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The Pamphlet Collection of Sir Robert Stout: Volume 62

Provisions as to Term, Payment of Rent, and Taxes

Provisions as to Term, Payment of Rent, and Taxes.

1.Every lease shall be for a fixed term, so as to expire on the 30th June after the expiration of thirty years from the date of the commencement of the term.
2.All leases shall be renewable under the following conditions: The lease is for thirty years, with the first offer at the end of the term for a lease of another twenty-one years. If the lease is page 29 refused by the holder it is put up to auction burdened with the value of improvements, which has to be paid by the incoming tenant to the Receiver of Land Revenue, and by him to the outgoing tenant when the transfer has been accomplished. If the Lessee elects to accept a fresh lease of the land for a further term, he executes a fresh lease paying a rental equal to per cent, on the gross value of the lands, after deducting the value of the substantial improvements of a permanent character as fixed by arbitration. It will be seen therefore that the lessee, and not the Crown, gets the benefit of all permanent improvements which he places on the land.
3.All rents shall be payable to the Receiver of Land Revenue of the district by equal half-yearly instalments, in advance, on the 1st January and the 1st July in each year.
4.One-third of the rents paid during the first fifteen years of each lease will be handed over to the County Council or Road Board of the district, to be expended on roads and bridges leading to or opening up the land leased, or on water-supply. Lessees shall be liable for all rates, taxes, or assessments of any kind whatsoever.