Ngati Haua Deed of Settlement - Terabyte Interactive

NGĀTI HAUĀ DEED OF SETTLEMENT7: FINANCIAL AND COMMERCIAL REDRESS7.15 If this clause applies in respect of a commercial redress property -7.15.1 the Crown may, at any time before the settlement legislation is enacted, givewritten notice to the trustees that the property -(a)(b)is surplus to the land holding agency’s requirements; andceases to be a commercial redress property; and7.15.2 if notice is given by the Crown to the trustees in relation to the property underclause 7.15.1, -(a)(b)(c)(d)the property ceases to be a commercial redress property; andthe Crown’s obligations under this deed in relation to the property as acommercial redress property end; andthe amount referred to in clause 7.1.2 is reduced by the amount of thetransfer value of the property; andthe amount the Crown must pay to the trustees under clause 7.1.3 isincreased by the amount of the transfer value of the property.DEFERRED SELECTION PROPERTIES7.16 The trustees have, for six months from the settlement date, the right to purchase, onand subject to the terms and conditions in part 7 of the property redress schedule, theproperties described in part 5 of the property redress schedule.SECOND RIGHT OF DEFERRED PURCHASE OF CERTAIN PROPERTIES7.17 The trustees have the right to purchase, on and subject to the terms and conditions inpart 8 of the property redress schedule, -7.17.1 the Former School House, Stanley Road, Te Aroha, if the deeds of settlementwith the iwi of Hauraki and the Hauraki Collective do not provide redress inrelation to that property, or all redress in relation to that property under thethose deeds of settlement ends without the fee simple in that property havingbeen transferred or vested under that redress; and7.17.2 any of the following properties, if the Ngāti Hinerangi deed of settlement doesnot provide redress in relation to that property, or all redress in relation to theproperty under the Ngāti Hinerangi deed of settlement ends without the feesimple in that property having been transferred or vested under that redress:(a)(b)(c)Former Turangaomoana School, Corner Tower and Mowbray Roads,Turangaomoana:9 Inaka Place, Matamata:Matamata Police Station.7.18 A purchased second right of deferred purchase property is to be as described in part 6of the property redress schedule.62