3

D.—ll

Act and of this contract shall, after the construction of the said railway or of any completed section or sections of the same, be conducted and carried out as follows, that is to say,— (a ) For the purposes of such selection, the estimated cost of constructing the said line of railway shall be the sum of three thousand pounds (£3,000) per mile throughout its whole length, estimated at nineteen, and a half (19^-) miles. (6.) For the purposes of such selection, the value of the lands shall be ascertained in the manner prescribed by section one hundred and two of the said Act, but to the " estimated market value " of the land as denned in the said section there shall be added the value to the Company of the surveys already made of, and roads already constructed through, the said lands. (<?.) For the purposes of such, selection as aforesaid, the said line of railway shall be divided into sections, and, when and so soon as the Minister for Public Works for the time being shall be satisfied that the said line of railway, or any section thereof which can be usefully woi'ked for public traffic, has been completed and is fit for such traffic in accordance with the said Act, the Company shall be at liberty to select and shall receive a grant for so much of the said land as they may be entitled to in respect of the number of miles of the said railway comprised in such completed section ; and, if there shall be any difference or dispute as to the area the Company is entitled to select, the decision ■ of the Governor shall be binding and conclusive on the Company, and every such selection shall be subject to the approval of the Governor. (2*berg grant made under the last preceding clause shall be subject to the provisions of " The Railways Construction and Land Act, 1881," respecting the terms and conditions upon which grants of Crown lands may be made to a company thereunder. Ett dealing by way of sale or otherwise with any land which shall become vested in the Company pursuant to any such selection as aforesaid, the Company shall conform to the rules and regulations set forth in. the Schedule hereto : however, that this and the two last preceding clauses shall not have any force or operation so as to give the Company any right, title, interest, or claim in or to the land proposed to be withdrawn from sale as aforesaid, unless and until the allocation of the land so set aside and intended to be granted to the Company shall be approved by the General Assembly of New Zealand in the manner prescribed by sections thirteen and fourteen of the said Act. 7. it is fterebg further agrcrti that the power of purchase conferred upon the Governor by the said Act may be exercised at any time after the expiration of three years from the completion of the said railway. 8. 9nti it is fjerrflg fttrttjer asrrrti that the maximum tolls, fares, and rates to he charged by the Company for the carriage upon the said railway of passengers, produce, animals, and goods, and for the storage of goods in any of the Company's sheds or warehouses, shall be according to the scale set forth in the Second Schedule hereto, or according to the scale for the time being in force on the AucklandHelens ville Railway. 9. $hiJi it IS hetefag lagtlg agttrtf that, in case this contract or any provision thereof shall be avoided or modified either wholly or in part by a resolution or resolutions to be passed by the General Assembly of New Zealand in the manner prescribed by the said Act, the Company shall not have any claim or demand upon or against the Queen or the Governor of New Zealand for any loss or damage by reason of such avoidance or modification, or in consequence of the operation of any such resolution; and any property, estate, right, or interest acquired by the Company from the Queen or the said Governor under or by virtue of the said contract or provision shall, to the extent and in the manner specified in any such resolution, be and be deemed to have again become the property or estate of the Queen or the Governor, or to revest in the Queen, as the nature of the case may require.