TNAG-2958-FCO40-4237-Future-of-Hong-Kong-British-Consulate-General-Colvin-House--1993 — Page 43

GENERAL CONDITIONS

Rent

1.

Rateable value

Effective date

(a)

the

Particulars

Rent

of the Lot specified in as 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

a due in every

first yearly rent year, the proportion thereof becoming due and to be paid on the 1st day of July next following the date of this Agreement.

the

year,

shall

and pay

or

be

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

the rent for the lot shall term hereby granted calculated and paid with reference to the period commencing on the 1st day of April and ending on the 31st day of March in each

and the Grantee

there shall be collected by the Director of Buildings and Lands (hereinafter referred to as

"the Director") as rent for the lot for each such period an amount equal to 3% of the rateable value from time to time of the lot, the said rent to be paid by four

in advance on equal quarterly instalments

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.

purposes

this

the

(c) For the

of

General Condition

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 as "the Commissioner") under the Rating Ordinance or any legislation amending or replacing the of the tenement, or, if there is more than one tenement, 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.

same,

the

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

(i)

a

rateable value in a new list, when declared, and an interim valuation, when made, and a correction, alteration or

variation of a rateable value or an interim valuation, when made, shall take effect from the effective dates for the same under the Rating Ordinance;

Adjustment

(ii)

if

the effective date of an interim valuation is earlier than the date of the making of the interim valuation, or 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 of the correction, alteration or variation, and as a result the rent for the

lot

is increased, the rent due for the period.)