TNAG-2958-FCO40-4237-Future-of-Hong-Kong-British-Consulate-General-Colvin-House--1993 — Page 50

8

Re-entry

No refund of premium

on re-entry

Lease

Government's right of re-entry for or on account of such default or any other rights, remedies or claims of the Government in respect thereof under these Conditions which shall continue in force and shall apply also in respect of default by the Grantee in the fulfilment of his obligations under the se Conditions within any extended or substituted period as if it had been the period originally provided.

12.

(a) Upon

Upon any failure or neglect by the Grantee to perform, observe or comply with any of these Conditions, the Government shall be entitled to re-enter upon and take back possession of the lot or any part thereof and all or any buildings, erections and works thereon or on such part, and thereupon this Agreement and the rights of the Grantee hereunder shall absolutely cease and determine (in respect of such part if the

the re-entry is upon a part only) but without prejudice nevertheless to the rights, remedies and claims of the Government in respect of any breach, non-observance or non-performance of any of these Conditions.

(b) In the event of re-entry by the Government for or in respect of or arising out of the breach, non-observance or non-performance by the Grantee of the provisions of these Conditions, the Grantee shall not be entitled to any refund of the premium paid by him or any part thereof, or to any payment compensation whatsoever whether in respect of the value of the land, or for any buildings thereon, or for any amount expended by the Grantee in the preparation, formation or development of the lot or otherwise.

or

13. (a) When these Conditions have been performed and complied

with to the satisfaction of the Director, the Grantee shall subject to approval of his title by the Director be entitled to a lease of the lot for the term stated in the preamble to these Conditions.

(b) The Grantee shall execute and take up a lease of the lot when called upon to do so by the Director and shall pay the prescribed fees therefor. In the event of more than one building being

being erected on the lot the Grantee may be required to take up a separate lease for the site of each separate building and shall pay the Director the prescribed fees for every additional lease so required to be taken up.