CO129-520-12 Development of Kowloon Tong Estate 11-12-1929 - 16-6-1930 — Page 18

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Johnson, Stokes & Master, as to the subscribers portion

for their account, and as to the Government' contri-

bution for the Hong Kong Government account, until

final settlement with the Company, and only to be used

in and for such final settlement.

the

The Government's proportion to be refunded in full if/

settlement falls through.

In the event of the fund proving more than sufficient,

one half of the balance or surplus to be refunded to

the Government.

The settlement to extinguish completely all actions and

claims relating to the Kowloon Tong Scheme by and

between,-

:

(a) Company and Government, and the converse;

(b) Subscribers and Government, and the converse;

(c) Company and, subscribers, and the converse.

Provided that no claim by the Government in respect of

unpaid premium on or Crown rent of any Lot, or the

Crown Lease or tenancy of any Lot shall bo, extinguished

or in anywise affected And provided that any Kowloon

Tong cbscriber or Lot owner who does not subscrib● his

due proportion to the fund may be sued by the Company

and its assigns for any debt or chose in action whatso-

ever An provided that negotiations between the subscri

bers and the Government for a Kowloon Tong Property

water supply for flushing and gardening purposes shall

not be interrupted by reason of or during the pendency

of the settlement or be terminated by or upon completion

of such settlement, but the Government gives no under-

taking that the negotiations will lead to any result.

Furthermore the settlement to be and provide for,-

1. Payment, with and out of the fund, as augmented, of

the eighty per cent, to be accepted by the creditors of

the Company in full settlement of their claims less the

9.