:
Enclosure
300
Conditions for the grant of a piece of Crown Lapt by to
Government of Hongkong to be known as 16671
"THE PORTUGUESE RESERVATION AREA".
RECE RES 7 MAY 14
(A). The area of Crow Land to be taken up shall be about 45 acres
(more or less) situate approximately in the position shown in red on the plan hereunto annexed and such area shall be known as the "Portuguese Reservation Area" or by such other designation as may be approved by the Government. (In these conditions hereinafter referred to as "THE RESERVED AREA").
(B). Premium at the rate of two cents per square foot shall be paid
into the Colonial Treasury within 7 days of the date of a notifica- -tion in writing signed by the Director of Public Works of the amount payable.
(C). Crown Rent at the rate of 100 per acre par anum shall be payable
as from the date of the notification referred to in Condition B above. For the purpose of determining the area in respect of which premium and Crown Rent shall be paid in the first instance, the exact amounts payable will be determined as development proceeds.
On completion of the laying out the amount of premium payable shall be adjusted in accordance with the actual areas of the lota when any further amount found to be due to the Government shall be paid by the Lessees or any excess amount already paid by the Lessees shall be refunded to them by the Government, but no interest shall be paid in either of such cases.
The mount of Crown Rant to be paid shall be adjusted from time to time as development proceeds.
No arrears shall be charged in respect of any additional Crow Rent that may from time to time be found to be payable and similarly no refund shall be made in respect of any reduced Crown Rent that may from time to time be found to be payable. (D). The term of the lease of "The Reserved Area" to be granted to the Lessees shall be 75 years (renewable for a further term of 75 years at a re-assessed Crow Rent) and shall commence from the
date
No comments yet.
Private notes are available after approval.