BOROUGH LEASEHOLDERS.

Manawatu Standard, Volume XLI, Issue 9608, 6 September 1911, Page 6

BOROUGH LEASEHOLDERS.

A deputation of five leaseholders oil the borough reserve waited on tho Borough Council last evening, with, a request for the immediate formation of the road running parallel with, Fitzherbert street and the rqad run-' ning round tho back of the rifle range. The leaseholders also desired a footpath, for which they were willing to pay half the cost. < Mr C. F. Spooner acted as spokesman, and said the leaseholders wished further to have an amendment made in the method of taking out insurance. ' It seemed unfair that the borough should have power to hold tho insurance policy. The leaseholders would like clause ,4 of the lease waived, so that the insurance policy may be held by the mortgagee. Some oight or ten persons had taken up sections, intending to make permanent homes. If the borough did not see fit to rescind the clause referred to there would never be any houses erected, except { such as could be built without recourse! to loan money. Clause 6 provided' that no one should carry on offensive trades on the reserve. The stock accommodation might possibly, be deem- i ed to be an offensive trade.

Mr Gibbons said it might appeal to the Council that insurance never covered the full value of property. Suppose one put a mortgage of £I7OO 011 a house and it were destroyed, he could only rebuild to the value of about £IOOO. He did not think that in such cases as the present' the insurance usually wont to the leaser. The Council might very well allow tho insurance to remain in the names of the lessees. He had been told by several lawyers that clause 4 would militate against any negotiations with a view to borrowing. Tho matters were referred 1 to the Works Committee.