TOWN BELT LEASES.

New Zealand Times, Volume XXXII, Issue 5052, 2 June 1877, Page 3

TOWN BELT LEASES.

The following are the conditions of sale:— 1. The term to be granted is to be fourteen years, computed from and inclusive of the first day of July next. 2. Each lot is to he put up at a yearly rental, payable half-yearly on the thirty-first day of December and the thirtieth day of June in each year. 3. The highest bidder at a yearly rental is to be the purchaser ; and if any dispute shall arise as to the highest or last bidder, the lot is to be put up again at a former bidding. 4. The first half-year's rent is to be paid in advance on the fall of the hammer.

5. Each purchaser will he entitled, at his own expense, to a lease of the lot purchased by him, and shall also bear the expense of a counterpart lease. 6. In addition to the covenants, powers, and conditions to be implied in leases under the laws now in force in New Zealand in that behalf, modified as hereinafter mentioned, each lessee shall covenant as follows (that is to say): — (a.) That he will not.assign, underlet, orpart with the demised premises without the lessors’ consent in writing. (i.) That no buildings shall be erected on any part of the property. 7. That the modifications in the implied powers shall be as follows:—(a.) That the right of re-entry shall apply to breach of any covenant as well as to non-payment of rent. (b.) That the right of re-entry may be exercised at the expiration of twenty-eight days after breach of covenant or non-payment of rent, (c.) That the right to distrain for rent in arrear may be exercised at the expiration of fourteen days after date fixed for payment. { d.) That any repairs required to be done by virtue of any notice to be given by the lessors shall be executed within one calendar month after notice.

8. The lessors reserve out rif each lease a right to the inhabitants of the city to enter and walk through or over the demised land for the purpose of recreation, hut no person exercising such right by reason of such reservation shall be freed from liability for wilful damage. 9. The lessors also reserve the right to determine the lease by notice in writing at the expiration of twenty-eight days after such notice as to all or any part of the land demised which may be required by the lessors for roads, footways, or recreation grounds, the lessee being at liberty in case such right be exercised as to part only of the laud demised to surrender the whole, or to be entitled to a proportionate abatement of the rent for the residue of the term as he may within one week after such notice, by writing, elect.

10. Each lessee further to covenant not to cut down or damage any timber or shrubs growing upon the land ; and from time to time to renew any fences which may become decayed or useless. 11. The lessors reserve to themselves the right to insert in the lease any other reasonable conditions, powers, and covenants which may be necessary for the due protection of the public interest. 12. No lessee shall be entitled to require the production of the lessors’ title. 13. Possession will he given to each lessee on the first day of July next. 14. If any purchaser shall not comply with these conditions the lessors may declare the agreement with such purchaser to be at an end, and the same shall thereupon cease to be binding upon the lessors, any rule or doctrine of law or equity to the contrary notwithstanding ; and the lessors may retain the deposit paid at this sale as and for liquidated and ascertained damages by reason of such default, and may proceed forthwith to re-let the premises.