TNAG-2662-FCO40-3858-Future-of-Hong-Kong-British-Consulate-General-1992 — Page 134

GENERAL CONDITIONS

1 m

Rent

Rateable value

Effective date

(a) Rent as specified in the Particulars of the Lot shall commence from the date of this Agreement and until the 30th day of June 1997 shall be paid in arrear on the 1st day of July in every year, the first yearly rent or a due proportion thereof becoming due and to be paid on the 1st day of July next following the date of this Agreement.

the

the each

day

of

year,

and

collected

by

referred

to

as

rent

(b) From the 1st day of July 1997 until the expiry of term hereby granted the

for th lot shall be calculated and paid with reference to the period commencing on

1st

April and ending on the 31st day of March in the Grantee shall pay and there shall be the Director of Buildings and Lands (hereinafter "the Director") as rent for the lot for each such period an amount equal to 3% of the rateable value from time to time

lot, the said rent to be paid by four equal quarterly instalments in advance on the 1st day of April, the 1st day of July, the 1st day of October and the 1st day of January in each year, and the first quarterly payment together with all accrued arrears of rent becoming due and to be paid on the 1st day of July 1997.

(c)

For

of

the

the

purposes of this General Condition the rateable value

Of

the lot shall be the rateable value as set out from time to time in the list declared or the interim valuation made by the Commissioner of Rating and Valuation (hereinafter referred to සුස "the Commissioner") under the Rating Ordinance or any legislation amending or replacing the same, of the tenement, or, if there is more than one tenement, the aggregate of the rateable values and/or interim valuations as so set out or made of all the tenements comprised wholly or partly within the lot.

(d) For the purposes of sub-clause (c) hereof :-

(i)

rateable

new

when

when

value in

list, declared, and an interim valuation, made, and සු correction, alteration or

Adjustment

(ii)

rateable value or an interim made, shall take effect from

for

the same under the

variation

of

valuation,

when

the effective dates

Rating Ordinance;

or

if the effective date of an interim valuation is earlier than the date of the making of the interim valuation,

if the rateable value has been corrected, altered or varied and the effective date of such correction, alteration or variation is earlier than the date of the making

the correction, alteration or variation, and as a result the rent for the is increased, the rent due for the period

lot

of