Mar. 17.] THE NEW ZEALAND GAZETTE. 651

due up to the date of the delivery of the aforesaid notice of
intention to purchase :

And whereas it is provided by the said Act that upon such
payment as aforesaid the lease shall determine, and the
lessee thereof shall hold the land under a license to occupy :

Now this deed witnesseth that His Majesty the King, in
consideration of the premises and of the covenants herein-
after expressed on the part of the licensee, and in pursuance
of section 82 of the Land for Settlements Act, 1925, doth
hereby grant to the licensee an exclusive license to occupy all
that piece of land, containing by admeasurement acres
roods perches, be the same a little more or
less, situated in the Land District of , and being
Section No. , Block ; as
the same is delineated on the plan drawn hereon and thereon
coloured red in outline : To hold the same unto the licensee,
under and subject to the covenants and conditions hereinafter
expressed, for the term of thirty-four and one-half years from
the day of , 19 , or until the said land is
sooner granted in fee-simple to the licensee. And the licensee
doth hereby covenant with His Majesty the King in manner
following :—

1. The licensee will pay to His Majesty the balance of the
   aforesaid price of the said land, together with interest thereon
   at the rate of five and one-half per centum per annum from
   the first day of , 19 , by sixty-nine instalments each
   of £ , payable on the thirtieth day of June and the
   thirty-first day of December in each year during the term
   aforesaid.

The first such instalment of purchase-money and interest
and also the interest on the balance of purchase-money from
the day of , to the day of ,
19 , shall be payable on the day of , 19 :

Provided always that the licensee may at any time pay to
His Majesty either the whole of the purchase-money or any
half-yearly instalment or instalments thereof remaining
unpaid. The payment of any half-yearly instalment of the
purchase-money so made shall not affect the periodical con-
tinuity of half-yearly instalments, but the amount of purchase-
money and interest included in the succeeding instalments
payable hereunder shall be calculated as if the half-yearly
periods corresponding to the instalments so paid had expired
and the term during which instalments of purchase-money
and interest would otherwise have been payable shall be
reduced accordingly.

2. The licensee will discharge and pay all rates, taxes, or
   other assessments duly imposed or levied in respect of the
   said land by any local authority or public body having juris-
   diction within the area in which the land is situate.

3. The licensee shall not at any time during the continuance
   of the license, without the previous consent in writing of the
   Land Board of the land district in which the said land is
   situated, cut any timber on the said land or remove any
   minerals therefrom, or commit any other species of waste in
   respect thereof :

Provided always, and it is hereby agreed and declared, that
if the licensee makes default in the due and full payment of
any instalment of the said price, or of any interest due in
respect thereof, or in the observance or performance of any of
the conditions expressed or implied in this license, the afore-
said Land Board may cause to be given to the licensee, or to
any person who is for the time being in occupation of the
land or of any part thereof, notice under the hand of the
Commissioner of Crown Lands that if the moneys so in arrear
are not paid within one calendar month after the date of the
notice, or if the aforesaid conditions are not observed or
performed within such time as may be fixed by the Land
Board in that behalf, the Land Board will forfeit this license.
And it is hereby agreed and declared that if the moneys so
in arrear are not paid within one calendar month after the
date of the aforesaid notice, or if the aforesaid conditions have
not been observed or performed within the time so fixed, the
Land Board may, in its discretion, without any further or
other notice, by resolution forfeit this license, and thereupon
this license and the contract between His Majesty and the
licensee for the purchase of the land, and the interest of the
licensee in the said land, shall absolutely cease and determine,
and all moneys theretofore paid by the licensee under this
license or in respect of the said contract shall remain the
property of His Majesty ; but no such forfeiture shall relieve
the licensee from his obligation to pay to His Majesty any
moneys in arrear under this license at the date of such for-
feiture, or from any liability for any breach theretofore
committed of the covenants herein expressed or implied.

And it is hereby agreed and declared that these presents
are intended to take effect as a license to occupy pending the
completion of purchase by deferred payments under the
provisions of section 82 of the Land for Settlements Act,
1925, and the provisions of the said section, and all other
provisions applicable to such licenses shall be as binding on
the parties hereto as if such provisions had respectively been
set out herein at length.

In witness whereof the Commissioner of Crown Lands for
the Land District of , on behalf of His Majesty the
King, has hereunto set his hand, and these presents have also
been executed by the licensee.

Signed by the aforesaid Commissioner of Crown Lands, on
behalf of His Majesty the King, in the presence of—

Signed by the above-named licensee in the presence of—

SECOND SCHEDULE.

Term, 34½ years. Interest, 5½ per Centum.

TABLE showing for every £100 of Purchase-money the
amount of Purchase-money and Interest included in
Instalments of £3 5s. payable at the end of each
Successive Period of Six Months during the Term.

F. D. THOMSON,
Clerk of the Executive Council.