XN000022-1992-06-04 — Page 14

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THURSDAY, JUNE 4, 1992

RENT PAYERS

SHOULD SET OUT IN THE DEMAND

IF THE ABOVE WORDING IS NOT SHOWN CROWN MAKE PAYMENTS ACCORDING TO THE INSTRUCTIONS NOTES.

TO AVOID QUEUEING, PAYERS ARE URGED TO PAY BY CHEQUE OR MONEY ORDER SENT BY POST OR BY EARLY PERSONAL ATTENDANCE AT ANY OF THE OFFICES LISTED ON THE BACK OF THE DEMAND NOTE.

A SPOKESMAN FOR THE TREASURY URGED CROWN RENT PAYERS TO NOTE THE FOLLOWING:

* TO AVOID LEGAL ACTION FOR RE-ENTRY OF A PROPERTY THE OWNER FOR THE TIME BEING TOF THAT PROPERTY IS OBLIGED TO PAY CROWN RENT INCLUDING ANY ARREARS AS DEMANDED.

THE CROWN RENT PAYABLE UNDER A LEASE OF A PROPERTY THAT HAS BEEN RENEWED UNDER THE CROWN LEASES ORDINANCE AND RE- DEVELOPED, WILL BE 3% OF THE RATEABLE VALUE OF THAT PROPERTY AS ASSESSED FOLLOWING THE DEVELOPMENT.

PENDING COMPLETION OF THE ASSESSMENT AND OTHER RELATED PROCEDURES, CROWN RENT DEMANDS WILL BE BASED UPON THE PRE- REDEVELOPMENT RATEABLE VALUE.

IN DUE COURSE, CROWN RENT FOR THE DIFFERENCE BETWEEN THE RENT BASED UPON PRE AND POST-REDEVELOPMENT RATEABLE VALUES WILL BE DEMANDED AND THE OWNER FOR THE TIME BEING IS OBLIGED TO PAY THE RENT AS DEMANDED.

IF HE DOES NOT, LEGAL ACTION FOR RE-ENTRY OF THE PROPERTY MAY BE INSTITUTED.

HE ADVISED PROPERTY PURCHASERS TO INSTRUCT THEIR SOLICITORS то ENSURE THAT AT THE TIME OF PURCHASE THE CROWN RENT IS PAID UP TO DATE.

IF A PROPERTY IS SUBJECT TO THE CROWN LEASES ORDINANCE AND HAS BEEN REDEVELOPED BUT THE RENTAL PAID UP TO THE DATE

OF THE PURCHASE IS NOT BASED UPON AN ASSESSMENT OF THE RATEABLE VALUE OF THE PROPERTY SINCE ITS REDEVELOPMENT, APPROPRIATE STEPS SHOULD BE TAKEN BY THE PURCHASER OR HIS SOLICITORS TO PROTECT THE PURCHASER.

ENQUIRIES ON OUTSTANDING ACCOUNTS MAY BE ADDRESSED TO DIRECTOR OF ACCOUNTING SERVICES: THE FEE IS $45 FOR EACH ENQUIRY PROPERTY.

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