CO129-604-2 Crown Leases 23-2-1948 - 6-11-1948 — Page 26

of

<

proposed addition to paragraph 4 of the announcement

In these

contained in paragraph 7 of your despatch?

(further amendment circumstances would not/re-draft as follows of

paragraphs 4 and 5 of announcement clarify

the meaning?

(a) Paragraph 4. As amended in paragraph 1

of your despatch under reference, but emitting last two bus and ending with the words "at that time"

Cehmlth amint

to any Blows

나 (b) Paragraph 5Payment of a premium would

be required based on land values prevailing in the locality at the time of the application. Such premium would represent the balance of the value of the land (exclusive of the buildings thereon) over and above the Crown rent. It would be payable in one lump sum on acceptance of the application or (at the option of the lessee) by

3,

instalments over an agreed period of years

or over the unexpired residue of the existing term, together with the whole of the new term: in the case of payment by instalments, an addition would be made to allow for interest in respect of the deferred payments, such interest to be calculated at the rate of 5% per annum.

The calculation of the premium on the value of the and exclusive of the buildings thereon is a/concession arising from the special circumstances following on the war which will not constitute a precedent

for dealing with the renewal of other types of leases."

I suggest that the heading of the public

should make 't clear that the

exfrancamen

coment relenting

ما

(5-yea

the /non

re/non.

follows

растени

other perplexes."

announcement

ewable

le leaves

on-renew

only.

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