MAY 20.] THE NEW ZEALAND GAZETTE. 1427

14. If no bid or tender is received, any person may at any
    time thereafter apply for any one of such leases until the
    same shall have been withdrawn from sale by the Board,
    and be declared the lessee at the upset rental fixed. If, in
    any such case, two or more applicants shall lodge their
    applications on the same day, the right to this lease shall be
    decided by lot.

15. The Board may at any time reduce the upset value of
    land which it has failed to lease for three months, and either
    call for tenders or auction the same at such reduced value.

16. The term fixed by each lease shall be twenty-five years,
    with a right of renewal for a further term of twenty-five
    years.

17. Every lease shall be prepared by the Board, and
    shall be in such form and shall contain such covenants,
    conditions, and agreements, not being inconsistent with
    the provisions of the said Act or these regulations, as the
    Board may decide, and, when not otherwise provided, shall
    be subject to the stipulations following :—

(1.) The demise shall reserve unto the lessor all mines,
metals, minerals, coal, lignite, slate, or freestone
in or upon or under the land, with power to
work, win, use, possess, sell, and dispose of the
same or any part thereof respectively, except
such as may be required by the lessee for the
lessee's own use, but not for sale or disposal; with
power also to the lessor to make roads through
the demised lands, and for such purposes or any
of them to erect or build houses and other con-
venient buildings thereon, on paying compensation
for damage done to the surface only, the amount
of such compensation in case of disagreement to
be ascertained and determined by arbitration.

(2.) The lessee shall and will during the term of the
lease pay the rent reserved thereby free and clear
from all deductions or abatements whatsoever,
and shall and will pay all rates, taxes, charges, or
assessments now made or hereafter during the
said term assessed, charged, or imposed upon
the demised premises, or tenant in respect
thereof, or upon any buildings or improvements
thereon; and in case any of the said rents shall
at any time be and continue in arrear and
unpaid for fourteen days next after any of the
days appointed for payment thereof, the lessee
will (if demanded) pay to the lessor interest upon
such arrears at the rate of £8 per centum per
annum, calculated from the time appointed for
the actual payment of such rent to the time of
actual payment thereof; and such interest shall
for all purposes, whether of distress or otherwise,
be deemed to be rent payable under the demise,
and be payable and recoverable by distress or
otherwise in the same manner as the rent reserved
under the demise may or can be.

(3.) The lessee “ will insure in the name of the lessor.”

(4.) The lessee “ will fence.”

(5.) The lessee “ will paint outside every fourth year.”

(6.) The lessee “will cultivate,” and will preserve and
keep the demised premises in a clean and hus-
bandlike manner, free from all noxious weeds
growing or to grow on the said demised premises,
and will not plant on the demised premises, or
permit to spread thereon, gorse or furze, and will
keep properly cut and trimmed all live hedges and
fences on the demised premises.

(7.) No lessee shall transfer the possession or occupation
of the land leased to or occupied by him, or any
part thereof, by sale, under lease, or shall mort-
gage or make other disposition of such land,
except with the sanction of the Board first
obtained, and until such lessee has been twelve
months in possession or occupation of the de-
mised land.

(8.) No lessee shall mortgage his interest in any lease ex-
cept with the consent of the Board first obtained.

(9.) When a statutory declaration is required from
any lessee, no transferee and no purchaser of
any lease under any power of sale vested in
any mortgagee, assignee, or trustee in bank-
ruptcy shall be admitted into possession or
occupation of the land comprised in such lease
until he has deposited with the Board a statu-
tory declaration in the same form or to the same
effect.

(10.) Every lawful transferee of any lease, or purchaser
as aforesaid of any lease, shall have all the
rights and privileges, and be subject to the same
obligations, as the original lessee: Provided that
the transferor shall be liable for the instalment
of rent which shall become due next after such
transfer.

(11.) No transfer of any lease shall be valid unless all
the conditions upon which the lease was granted
have been complied with as to payment of rent
or otherwise up to the date of such transfer.

(12.) If any lessee shall fail to fulfil any of the con-
ditions of his lease within sixty days after the
day on which the same ought to be fulfilled,
his lease shall be liable to be forfeited, and he
shall be deemed, upon such forfeiture, to be in
illegal occupation of the land comprised in the
lease, and the Board may proceed for recovery
of possession thereof without prejudice to the
right of the lessor to recover any rent then due or
payable, or any right of distress, action, or suit
that may have arisen prior to such re-entry.

The foregoing conditions as regards leases shall operate
and shall be deemed to bind the Board and the lessee
as fully and effectually as if they were set forth in every
lease.

18. The lessee shall be liable for all rates, taxes, or assess-
    ments of every nature or kind whatsoever imposed upon
    the occupier of the lands included in his lease during the
    term for which he is lessee.

19. The Board, upon being satisfied that any lease has
    been lost or accidentally destroyed, may grant a new lease
    in lieu thereof, upon such terms and conditions and upon
    payment of such fee in each case as it shall think fit.
    When any indorsement is required to be made on any lease,
    and the same is lost or destroyed as aforesaid, the Board
    may grant a new lease in lieu thereof, and make the required
    indorsements thereon, or, if it shall so think fit, may incor-
    porate the substance of the indorsements with the terms of
    the original lease, and insert them together in the new lease.

20. The Board, acting on behalf of the Native proprietors,
    and the lessee shall each execute the lease in triplicate.

21. Every lease, after execution thereof as aforesaid, shall
    be registered by the Board under “The Land Transfer Act,
    1908,” but no fee shall be payable by way of contribution to
    the assurance fund on the registration of any such lease.

All dealings with or transmissions of land comprised in
such lease shall be made in accordance with the provisions
of the last-mentioned Act, and be in all respects subject
thereto.

22. All dealings with or under leases in contravention of
    the provisions of the said Act or these regulations shall
    be absolutely void, and the District Land Registrar shall
    refuse to register any dealing with or under a lease until he
    is satisfied that the said provisions have been complied with.

IMPROVEMENTS.

23. Every lessee shall bring into cultivation,—
    (a.) Within one year from the date of his lease, not less
    than one-twentieth of the land leased by him ;
    (b.) Within two years from the date of his lease, not
    less than one-tenth of the land leased by him ;
    (c.) Within four years from the date of his lease, not less
    than one-fifth of the land leased by him ;
    and shall, within six years from the date of his lease, in
    addition to the cultivation of one-fifth of the land, have put
    substantial improvements of a permanent character on first-
    class land to the value of £1 for every acre of such land, and
    on second-class land to an amount equal to the net price of
    every acre of such land: Provided that in no case shall the
    additional improvements required on second-class land be
    more than 10s. per acre.

24. The lessee will during the term well and sufficiently
    repair, maintain, and keep the said premises and all build-
    ings and erections from time to time placed or built thereon
    in good and substantial repair and condition (reasonable
    wear-and-tear and damage by fire, storm, earthquake, or
    tempest only excepted).

25. Every lease shall, on the termination of the full
    term of fifty years, confer upon the lessee a right to com-
    pensation for all substantial improvements of a permanent
    character put upon the land during the continuance of the
    lease and renewal thereof and unexhausted on the termina-
    tion thereof. The amount of such compensation shall be
    assessed by way of arbitration between the Board and lessee
    in manner hereinafter provided, but shall not exceed the
    amount specified in the special conditions in each case.

26. For the purpose of providing a fund for paying such
    compensation, the Board shall from time to time during the
    currency of the lease set aside 10 per centum of the rent re-
    ceived for each section.

27. Such moneys so set aside shall from time to time be
    paid to the Public Trustee or lodged in a bank as fixed
    deposit, and with the interest thereon shall at the expira-
    tion of the full term of fifty years be applied in payment of
    the amount of compensation as aforesaid.

28. If on the expiration of the full term of fifty years the
    amount so set aside, together with the accumulations of in-
    terest thereon, exceeds the amount of the valuation the