50
THE NEW ZEALAND GAZETTE.
[No. 1]

14

(7.) In the event of the buildings so insured, or any of them, being destroyed
or damaged by fire, all moneys payable to the lessor under the
insurance shall be recoverable by the Commissioner, who, after
deducting the expense (if any) incurred in recovering the same,
shall, in his discretion, apply the residue thereof, or a sufficient
part thereof, either in or towards restoring the buildings or in or
towards paying the unpaid instalments (a due rebate of interest
being made in the case of instalments not then due), and any surplus
shall be payable to the lessee.

And it is hereby decreed and declared as follows, that is to say:—

(a.) For the purposes of these presents the following proportion, to wit,
acres of the demised land shall be deemed to be agricultural
land, acres shall be deemed to be mixed agricultural and pastoral
land, and acres shall be deemed to be third-class land.

(b.) Subject to the provisions herein contained and implied, and also to
those of the said Acts and the said regulations, the provisions of
“ The Land Act, 1892,” and the regulations thereunder with respect
to applications for and the grant of renewable leases, the stipula-
tions and conditions subject to which such leases may be granted,
the rights and powers of the lessor and of every person or authority
in his behalf, the rights, powers, and functions of the Land Board
and the Commissioner in relation to land and premises comprised
in such leases, and the estate, interest, rights, duties, and liabilities
of the lessees, shall, so far as the same are applicable, apply to this
lease as fully as if they were fully set out herein.

(c.) If and so often as the lessee makes default in the due and full payment
of any rent hereby reserved, or of any instalment in respect of the
value of buildings as aforesaid, or of any sum in respect of cost of
insurance as aforesaid, or of any other moneys payable under this
lease, or in the faithful observance and performance of any other of
the covenants, conditions, or stipulations herein contained or im-
plied, and by him to be observed or performed, then and in any
such case the Land Board may, without any previous or other notice
or demand, forfeit this lease ; and in such case all the lessee’s interest
therein shall absolutely cease and determine, subject, nevertheless,
to the provisions of the next following clause respecting valuation
of improvements ; but such forfeiture shall not affect any right or
remedy on the part of the lessor to recover from the lessee any
money due to the lessor, nor release the lessee from any penalty or
liability in respect to anything done or omitted to be done by him.

(d.) In the event of the forfeiture or surrender of this lease, the pro-
visions of “ The Land Act, 1892,” respecting valuation of improve-
ments and the payment or other disposal thereof shall, so far as the
same are applicable, apply to the improvements made by the lessee.

(e.) For the purpose of distinguishing the improvements existing on the
demised land at the date of this lease from those subsequently
made by the lessee, the first-mentioned improvements and their value
shall be deemed to be those specified in the Third Schedule hereto :
Provided that to the extent to which the lessee pays the aforesaid
instalments in respect of the value of buildings specified in the
Second Schedule hereto, to the same extent shall such buildings
be deemed to be improvements made by him.

[Insert such additional provisions (if any), not inconsistent with the said Acts
and the regulations thereunder, as, with the approval of the Minister, the Land Board
thinks fit.]

In witness whereof the Commissioner of Crown Lands for the Land District
of , on behalf of the lessor, hath hereunto set his hand, and these
presents have been also executed by or on behalf of the lessee.

The First Schedule hereinbefore referred to.

Description of the demised land :