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As to Covenants to be contained in Leases made under this Act.
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VII. Every Lease made under this Act shall contain a Covenant that the Tenant shall pay the Rent reserved, and all Taxes and Impositions whatsoever which shall be payable in respect of the Lands thereby demised, save the Landlord’s Proportion of Poor’s Rates, and also a Condition and Agreement on the Part of the Lessee to erect in a permanent and substantial Manner on the demised Premises Buildings of a Value to be specified therein, and to keep such Buildings during the Term in good and substantial Repair, and insured against Damage by Fire in Three Fourths at least of the Value thereof, and also that the Lessee will lay out the Money to be received on any such Insurance, and all such other Sums of Money as shall be necessary, in substantially reinstating such Buildings as shall be destroyed or damaged by Fire, and to give up peaceable Possession of the Lands so demised, with all Buildings, Fixtures, and Improvements therein, on the Determination of such Lease; and also every such Lease shall contain a Power of Re-entry, in case such Buildings shall not have been erected within Five Years from the Commencement of the said Lease: Provided also, that nothing herein contained shall be construed to preclude the Lessor in any such Lease from covenanting that the Lessee may take from off the demised Premises Brick, Earth, Stone, Lime, or other Materials for the Erection or Repair of the said Buildings, or the Construction or Repair of Drains connected therewith, or that he may use such Portion of the demised Premises as shall be limited in such Lease for the Purpose of laying out new Streets or Approaches to such Buildings, or for making any Drainage necessary for such Buildings.
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