Crown Lease: Heads of Terms
Registration Section: Virgin Gorda Central
Lessor: Her Majesty The Queen In Her Government Of The BVI
Lessee: Blunder Development Corporation Limited
Jurisdiction: British Virgin Islands
Registered Agent: Harkom Corporate Services Limited
Registered Office: P.O. Box 216, Road Town, Tortola, British Virgin Islands
Leased Area: Land measuring 20.75 acres as outlined in the Master Plan
Lease Term: Ninety nine (99) years.
Lease Commencement: Effective 1 January, 2013
Renewal Option: Option to renew for a further term of ninety nine (99) years.
Rent Review: In the twentieth year from the date of commencement
Revised Rent: Not exceed more than (3%) of unimproved value.
Sub-Let: Equivalent to 2.5% of base rent.
Rights Of Entry: Only with the prior written consent of any sub-lessee