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\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid16407831\charrsid11422238 of a}{\b\fs24\lang2057\langfe1033\langnp2057\insrsid16407831\charrsid11422238  DEED OF LEASE }{\fs24\lang2057\langfe1033\langnp2057\insrsid16407831\charrsid11422238 dated 
{\*\xmlopen\xmlns1{\factoidname date}{\xmlattr\xmlattrns0{\xmlattrname Month}{\xmlattrvalue 12}}{\xmlattr\xmlattrns0{\xmlattrname Day}{\xmlattrvalue 7}}{\xmlattr\xmlattrns0{\xmlattrname Year}{\xmlattrvalue 1950}}}the 7th December 1950}{
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\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid16407831\charrsid11422238 Mr }{\fs24\lang2057\langfe1033\langnp2057\insrsid1929912\charrsid11422238 McFadzien }{\fs24\lang2057\langfe1033\langnp2057\insrsid14096837 -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid1929912\charrsid11422238  for the Landowners;}{\fs24\lang2057\langfe1033\langnp2057\insrsid10709718\charrsid11422238 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid16407831\charrsid11422238 Mr Clarke }{\fs24\lang2057\langfe1033\langnp2057\insrsid14096837 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid16407831\charrsid11422238  for the Lessee.
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\par Judgment delivered:}{\fs24\lang2057\langfe1033\langnp2057\insrsid14096837 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid10709718\charrsid11422238  1}{\fs24\lang2057\langfe1033\langnp2057\insrsid16407831\charrsid11422238 7}{
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\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid204856\charrsid11422238 
\par This is an application by}{\fs24\lang2057\langfe1033\langnp2057\insrsid16407831\charrsid11422238  the present Lessee of the above land for the Court to determine its value as at {\*\xmlopen\xmlns1{\factoidname date}{\xmlattr\xmlattrns0{\xmlattrname Month}
{\xmlattrvalue 11}}{\xmlattr\xmlattrns0{\xmlattrname Day}{\xmlattrvalue 30}}{\xmlattr\xmlattrns0{\xmlattrname Year}{\xmlattrvalue 1980}}}the 30th November 1980{\*\xmlclose}.
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\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid16407831\charrsid11422238 The present Lessee is Jean Worthington who has had to apply to the Court previously for relief against the forfeiture of her l
ease by the owners for serious breaches of her obligations under that Lease. }{\fs24\lang2057\langfe1033\langnp2057\insrsid10709718\charrsid11422238 Suffice to say }{\fs24\lang2057\langfe1033\langnp2057\insrsid16407831\charrsid11422238 
that through unusual circumstances both she and the land owners have suffered financial losses.}{\fs24\lang2057\langfe1033\langnp2057\insrsid10709718\charrsid11422238  }{\fs24\lang2057\langfe1033\langnp2057\insrsid16407831\charrsid11422238 
The run of bad luck, if it can be called that, has continued even to this application sinc}{\fs24\lang2057\langfe1033\langnp2057\insrsid10709718\charrsid11422238 e it is only now that the file,}{
\fs24\lang2057\langfe1033\langnp2057\insrsid16407831\charrsid11422238  with the evidence and the supporting details of valuations, has been located and this Judgment completed.}{\fs24\lang2057\langfe1033\langnp2057\insrsid10709718\charrsid11422238  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid163734\charrsid11422238 The Court apologies for}{\fs24\lang2057\langfe1033\langnp2057\insrsid16407831\charrsid11422238  the delay as a result of the file being misplaced.
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\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid16407831\charrsid11422238 This property comprises an area of}{\fs24\lang2057\langfe1033\langnp2057\insrsid10709718\charrsid11422238  3 acres }{
\fs24\lang2057\langfe1033\langnp2057\insrsid16407831\charrsid11422238 2 roods 10 pe}{\fs24\lang2057\langfe1033\langnp2057\insrsid10709718\charrsid11422238 rches, located between the Main }{
\fs24\lang2057\langfe1033\langnp2057\insrsid16407831\charrsid11422238 Road and Muri Beach. It has a Main Road frontage of. 69 metres; a}{\fs24\lang2057\langfe1033\langnp2057\insrsid336106\charrsid11422238  beach frontage of}{
\fs24\lang2057\langfe1033\langnp2057\insrsid16407831\charrsid11422238  56.35 metres according to Mr Clarke; of 65.7 metres according to the evidence of Mr Tylor; and a depth of 172.5 metres.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid1256390\charrsid11422238 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid16407831\charrsid11422238 Its}{\fs24\lang2057\langfe1033\langnp2057\insrsid5597699\charrsid11422238  location at Muri was extolled }{\fs24\lang2057\langfe1033\langnp2057\insrsid16407831\charrsid11422238 
by Mr Tylor }{\fs24\lang2057\langfe1033\langnp2057\insrsid204856\charrsid11422238 and conceded by Mr Clarke as }{\fs24\lang2057\langfe1033\langnp2057\insrsid14096837 "}{\fs24\lang2057\langfe1033\langnp2057\insrsid204856\charrsid11422238 a}{
\fs24\lang2057\langfe1033\langnp2057\insrsid12657975\charrsid11422238  superior site}{\fs24\lang2057\langfe1033\langnp2057\insrsid16407831\charrsid11422238  to Aorangi}{\fs24\lang2057\langfe1033\langnp2057\insrsid15800091\charrsid11422238  and}{
\fs24\lang2057\langfe1033\langnp2057\insrsid204856\charrsid11422238  to}{\fs24\lang2057\langfe1033\langnp2057\insrsid16407831\charrsid11422238  the Rarotongan Hotel sit}{\fs24\lang2057\langfe1033\langnp2057\insrsid15800091\charrsid11422238 e. }{
\fs24\lang2057\langfe1033\langnp2057\insrsid1256390\charrsid11422238 Muri generally is}{\fs24\lang2057\langfe1033\langnp2057\insrsid16407831\charrsid11422238  superior to the Little Polyne}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15800091\charrsid11422238 sian area but the beach area of}{\fs24\lang2057\langfe1033\langnp2057\insrsid16407831\charrsid11422238  the Little Polynesian reduces the overall difference.}{
\fs24\lang2057\langfe1033\langnp2057\insrsid14096837 "}{\fs24\lang2057\langfe1033\langnp2057\insrsid15800091\charrsid11422238  }{\fs24\lang2057\langfe1033\langnp2057\insrsid16407831\charrsid11422238 
To be fair however Mr Clarke claimed that comparisons of beach and main road frontages with the Rarotongan Hotel; the Beach Hotel; the Edgewater Hotel; and the Little Polynesian Hotel all indicated that the present land }{
\fs24\lang2057\langfe1033\langnp2057\insrsid14096837 "}{\fs24\lang2057\langfe1033\langnp2057\insrsid16407831\charrsid11422238 is far inferior}{\fs24\lang2057\langfe1033\langnp2057\insrsid14096837 "}{
\fs24\lang2057\langfe1033\langnp2057\insrsid16407831\charrsid11422238  to those other Hotel properties just listed.
\par 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid5597699\charrsid11422238 Mr Clarke then went }{\fs24\lang2057\langfe1033\langnp2057\insrsid16407831\charrsid11422238 on to categorise this land into areas of not }{
\fs24\lang2057\langfe1033\langnp2057\insrsid1256390\charrsid11422238 usable}{\fs24\lang2057\langfe1033\langnp2057\insrsid16407831\charrsid11422238  or having very limited use or value as follows:
\par 
\par }\trowd \irow0\irowband0\ts15\trgaph108\trleft612\trftsWidth1\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrtbl 
\clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth3080\clshdrawnil \cellx3692\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth718\clshdrawnil \cellx4410\clvertalt
\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth540\clshdrawnil \cellx4950\pard\plain \ql \li0\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin0\pararsid16407831\yts15 
\fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid5065146\charrsid11422238 Taro area\cell 1500\cell m}{\fs24\lang2057\langfe1033\super\langnp2057\insrsid5065146\charrsid11422238 2}{
\fs24\lang2057\langfe1033\langnp2057\insrsid5065146\charrsid11422238 \cell }\pard\plain \ql \li0\ri0\widctlpar\intbl\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {
\fs24\lang2057\langfe1033\langnp2057\insrsid5065146\charrsid11422238 \trowd \irow0\irowband0
\ts15\trgaph108\trleft612\trftsWidth1\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb
\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth3080\clshdrawnil \cellx3692\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth718\clshdrawnil \cellx4410\clvertalt\clbrdrt\brdrtbl \clbrdrl
\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth540\clshdrawnil \cellx4950\row }\pard\plain \ql \li0\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin0\pararsid16407831\yts15 
\fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid5065146\charrsid11422238 Stream }{\fs24\lang2057\langfe1033\langnp2057\insrsid14096837 (}{
\fs24\lang2057\langfe1033\langnp2057\insrsid5065146\charrsid11422238 \'bd}{\fs24\lang2057\langfe1033\langnp2057\insrsid14096837 )}{\fs24\lang2057\langfe1033\langnp2057\insrsid5065146\charrsid11422238 \cell 250\cell m}{
\fs24\lang2057\langfe1033\super\langnp2057\insrsid5065146\charrsid11422238 2}{\fs24\lang2057\langfe1033\langnp2057\insrsid5065146\charrsid11422238 \cell }\pard\plain \ql \li0\ri0\widctlpar\intbl\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0 
\fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid5065146\charrsid11422238 \trowd \irow1\irowband1
\ts15\trgaph108\trleft612\trftsWidth1\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb
\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth3080\clshdrawnil \cellx3692\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth718\clshdrawnil \cellx4410\clvertalt\clbrdrt\brdrtbl \clbrdrl
\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth540\clshdrawnil \cellx4950\row }\pard\plain \ql \li0\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin0\pararsid16407831\yts15 
\fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid5065146\charrsid11422238 Divided by Stream\cell 1100\cell m}{\fs24\lang2057\langfe1033\super\langnp2057\insrsid5065146\charrsid11422238 2}{
\fs24\lang2057\langfe1033\langnp2057\insrsid5065146\charrsid11422238 \cell }\pard\plain \ql \li0\ri0\widctlpar\intbl\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {
\fs24\lang2057\langfe1033\langnp2057\insrsid5065146\charrsid11422238 \trowd \irow2\irowband2
\ts15\trgaph108\trleft612\trftsWidth1\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb
\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth3080\clshdrawnil \cellx3692\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth718\clshdrawnil \cellx4410\clvertalt\clbrdrt\brdrtbl \clbrdrl
\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth540\clshdrawnil \cellx4950\row }\trowd \irow3\irowband3
\ts15\trgaph108\trleft612\trftsWidth1\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb
\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth3080\clshdrawnil \cellx3692\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth718\clshdrawnil \cellx4410\clvertalt\clbrdrt\brdrtbl 
\clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth540\clshdrawnil \cellx4950\pard\plain \ql \li0\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin0\pararsid16407831\yts15 
\fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid5065146\charrsid11422238 Below vegetation\cell 300\cell m}{\fs24\lang2057\langfe1033\super\langnp2057\insrsid5065146\charrsid11422238 2}{
\fs24\lang2057\langfe1033\langnp2057\insrsid5065146\charrsid11422238 \cell }\pard\plain \ql \li0\ri0\widctlpar\intbl\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {
\fs24\lang2057\langfe1033\langnp2057\insrsid5065146\charrsid11422238 \trowd \irow3\irowband3
\ts15\trgaph108\trleft612\trftsWidth1\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb
\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth3080\clshdrawnil \cellx3692\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth718\clshdrawnil \cellx4410\clvertalt\clbrdrt\brdrtbl 
\clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth540\clshdrawnil \cellx4950\row }\trowd \irow4\irowband4\lastrow 
\ts15\trgaph108\trleft612\trftsWidth1\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb
\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth3080\clshdrawnil \cellx3692\clvertalt\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth718\clshdrawnil \cellx4410\clvertalt\clbrdrt\brdrtbl 
\clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth540\clshdrawnil \cellx4950\pard\plain \ql \li0\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin0\pararsid16407831\yts15 
\fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid5065146\charrsid11422238 \cell 3150\cell m}{\fs24\lang2057\langfe1033\super\langnp2057\insrsid5065146\charrsid11422238 2}{
\fs24\lang2057\langfe1033\langnp2057\insrsid5065146\charrsid11422238 \cell }\pard\plain \ql \li0\ri0\widctlpar\intbl\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {
\fs24\lang2057\langfe1033\langnp2057\insrsid5065146\charrsid11422238 \trowd \irow4\irowband4\lastrow 
\ts15\trgaph108\trleft612\trftsWidth1\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb
\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth3080\clshdrawnil \cellx3692\clvertalt\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth718\clshdrawnil \cellx4410\clvertalt\clbrdrt\brdrtbl 
\clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth540\clshdrawnil \cellx4950\row }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid16407831 {
\fs24\lang2057\langfe1033\langnp2057\insrsid5065146\charrsid11422238 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid16407831\charrsid11422238 Relating those areas to comparative values Mr Clarke claimed that the total valuation should be $36,100. He arrived at t}{
\fs24\lang2057\langfe1033\langnp2057\insrsid7411229\charrsid11422238 his figure by valuing the beach }{\fs24\lang2057\langfe1033\langnp2057\insrsid16407831\charrsid11422238 
area at $25,000 per acre; the main road and good land at $10,000 per acre and the Taro and low lying lan}{\fs24\lang2057\langfe1033\langnp2057\insrsid163734\charrsid11422238 d at $3,000 per acre. The }{
\fs24\lang2057\langfe1033\langnp2057\insrsid16407831\charrsid11422238 areas so valued I find difficult to reconcile with the total area.}{\fs24\lang2057\langfe1033\langnp2057\insrsid6119643\charrsid11422238  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid16407831\charrsid11422238 As I understand Mr Clarke}{\fs24\lang2057\langfe1033\langnp2057\insrsid14096837 '}{\fs24\lang2057\langfe1033\langnp2057\insrsid16407831\charrsid11422238 s submissions he says \endash 

\par 
\par }\trowd \irow0\irowband0\ts15\trgaph108\trleft612\trftsWidth1\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalc\clbrdrt\brdrtbl 
\clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth3528\clshdrawnil \cellx4140\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth720\clshdrawnil \cellx4860\clvertalt
\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth540\clshdrawnil \cellx5400\pard\plain \ql \li4\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin4\pararsid11155204\yts15 
\fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid10574360\charrsid11422238 Superior beach area\cell }\pard \ql \li0\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin0\pararsid16407831\yts15 {
\fs24\lang2057\langfe1033\langnp2057\insrsid10574360\charrsid11422238 2000\cell m}{\fs24\lang2057\langfe1033\super\langnp2057\insrsid10574360\charrsid11422238 2}{\fs24\lang2057\langfe1033\langnp2057\insrsid10574360\charrsid11422238 \cell }\pard\plain 
\ql \li0\ri0\widctlpar\intbl\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid10574360\charrsid11422238 \trowd \irow0\irowband0
\ts15\trgaph108\trleft612\trftsWidth1\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalc\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb
\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth3528\clshdrawnil \cellx4140\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth720\clshdrawnil \cellx4860\clvertalt\clbrdrt\brdrtbl \clbrdrl
\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth540\clshdrawnil \cellx5400\row }\trowd \irow1\irowband1
\ts15\trgaph108\trleft612\trftsWidth1\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb
\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth3528\clshdrawnil \cellx4140\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth720\clshdrawnil \cellx4860\clvertalt\clbrdrt\brdrtbl \clbrdrl
\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth540\clshdrawnil \cellx5400\pard\plain \ql \li0\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin0\pararsid16407831\yts15 
\fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid10574360\charrsid11422238 Remaining beach\cell 1000\cell m}{\fs24\lang2057\langfe1033\super\langnp2057\insrsid10574360\charrsid11422238 2}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10574360\charrsid11422238 \cell }\pard\plain \ql \li0\ri0\widctlpar\intbl\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {
\fs24\lang2057\langfe1033\langnp2057\insrsid10574360\charrsid11422238 \trowd \irow1\irowband1
\ts15\trgaph108\trleft612\trftsWidth1\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb
\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth3528\clshdrawnil \cellx4140\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth720\clshdrawnil \cellx4860\clvertalt\clbrdrt\brdrtbl \clbrdrl
\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth540\clshdrawnil \cellx5400\row }\pard\plain \ql \li0\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin0\pararsid16407831\yts15 
\fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid10574360\charrsid11422238 Main Road and good land\cell 8000\cell m}{\fs24\lang2057\langfe1033\super\langnp2057\insrsid10574360\charrsid11422238 2}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10574360\charrsid11422238 \cell }\pard\plain \ql \li0\ri0\widctlpar\intbl\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {
\fs24\lang2057\langfe1033\langnp2057\insrsid10574360\charrsid11422238 \trowd \irow2\irowband2
\ts15\trgaph108\trleft612\trftsWidth1\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb
\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth3528\clshdrawnil \cellx4140\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth720\clshdrawnil \cellx4860\clvertalt\clbrdrt\brdrtbl \clbrdrl
\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth540\clshdrawnil \cellx5400\row }\trowd \irow3\irowband3
\ts15\trgaph108\trleft612\trftsWidth1\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb
\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth3528\clshdrawnil \cellx4140\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth720\clshdrawnil \cellx4860\clvertalt\clbrdrt\brdrtbl 
\clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth540\clshdrawnil \cellx5400\pard\plain \ql \li0\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin0\pararsid16407831\yts15 
\fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid10574360\charrsid11422238 Taro and low lying\cell 1500\cell m}{\fs24\lang2057\langfe1033\super\langnp2057\insrsid10574360\charrsid11422238 2}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10574360\charrsid11422238 \cell }\pard\plain \ql \li0\ri0\widctlpar\intbl\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {
\fs24\lang2057\langfe1033\langnp2057\insrsid10574360\charrsid11422238 \trowd \irow3\irowband3
\ts15\trgaph108\trleft612\trftsWidth1\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb
\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth3528\clshdrawnil \cellx4140\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth720\clshdrawnil \cellx4860\clvertalt\clbrdrt\brdrtbl 
\clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth540\clshdrawnil \cellx5400\row }\trowd \irow4\irowband4\lastrow 
\ts15\trgaph108\trleft612\trftsWidth1\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb
\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth3258\clshdrawnil \cellx3870\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth990\clshdrawnil \cellx4860\clvertalt\clbrdrt\brdrtbl \clbrdrl
\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth540\clshdrawnil \cellx5400\pard\plain \ql \li0\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin0\pararsid16407831\yts15 
\fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid1531672\charrsid11422238 \cell }\pard \qr \li0\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin0\pararsid1531672\yts15 {
\fs24\lang2057\langfe1033\langnp2057\insrsid1531672\charrsid11422238 12500\cell }\pard \ql \li0\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin0\pararsid16407831\yts15 {\fs24\lang2057\langfe1033\langnp2057\insrsid1531672\charrsid11422238 m}{
\fs24\lang2057\langfe1033\super\langnp2057\insrsid1531672\charrsid11422238 2}{\fs24\lang2057\langfe1033\langnp2057\insrsid1531672\charrsid11422238 \cell }\pard\plain \ql \li0\ri0\widctlpar\intbl\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0 
\fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid1531672\charrsid11422238 \trowd \irow4\irowband4\lastrow 
\ts15\trgaph108\trleft612\trftsWidth1\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb
\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth3258\clshdrawnil \cellx3870\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth990\clshdrawnil \cellx4860\clvertalt\clbrdrt\brdrtbl \clbrdrl
\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth540\clshdrawnil \cellx5400\row }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid16407831 {
\fs24\lang2057\langfe1033\langnp2057\insrsid16407831\charrsid11422238 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid9577274\charrsid11422238 As I calculate the total area to be 14,250 m}{\fs24\lang2057\langfe1033\super\langnp2057\insrsid9577274\charrsid11422238 2 }{
\fs24\lang2057\langfe1033\langnp2057\insrsid9577274\charrsid11422238 the difference is 1,750 m}{\fs24\lang2057\langfe1033\super\langnp2057\insrsid9577274\charrsid11422238 2}{\fs24\lang2057\langfe1033\langnp2057\insrsid9835046\charrsid11422238 . }{
\fs24\lang2057\langfe1033\langnp2057\insrsid9577274\charrsid11422238 From the earlier division of limited use land referred to above, that is 3,150m}{\fs24\lang2057\langfe1033\super\langnp2057\insrsid9577274\charrsid11422238 2}{
\fs24\lang2057\langfe1033\langnp2057\insrsid9577274\charrsid11422238 , the balance over the Taro land is 1,650 m}{\fs24\lang2057\langfe1033\super\langnp2057\insrsid9577274\charrsid11422238 2}{
\fs24\lang2057\langfe1033\langnp2057\insrsid9835046\charrsid11422238 ? }{\fs24\lang2057\langfe1033\langnp2057\insrsid9577274\charrsid11422238 However I don}{\fs24\lang2057\langfe1033\langnp2057\insrsid14096837 '}{
\fs24\lang2057\langfe1033\langnp2057\insrsid9577274\charrsid11422238 t believe this discrepancy in the long run will affect the overall valuation I am required to make.}{\fs24\lang2057\langfe1033\langnp2057\insrsid16407831\charrsid11422238 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid9577274\charrsid11422238 
\par Mr Tylor referr
ed to the Little Polynesian valuation of $30,000; the lease of the Marine Zoo area which was just outside that area he had marked as yellow on a plan produced showing the very desirable sections and locations fronting on to the Muri Beach; he referred to 
the 1,200m}{\fs24\lang2057\langfe1033\super\langnp2057\insrsid9577274\charrsid11422238 2}{\fs24\lang2057\langfe1033\super\langnp2057\insrsid15221467\charrsid11422238  }{\fs24\lang2057\langfe1033\langnp2057\insrsid15221467\charrsid11422238 
section leased to South Pacific Consultants Ltd for $16,500 in 1982; another \'bd acre section nearby leased to Mr Swoboda in 1982 at a premium figure of $20,000; and, again outside the area marked yellow on his map, a \'bc acre section leased to Mrs 
Nicholas in 1978 }{\fs24\lang2057\langfe1033\langnp2057\insrsid7156869\charrsid11422238 at a consideration of $10,000. }{\fs24\lang2057\langfe1033\langnp2057\insrsid15221467\charrsid11422238 
However the important point stressed by Mr Tylor in his evidence was that the area marked yellow on his map was the prime area of Muri Beach; that Muri Beach was acknowledged as the best location in the whole
 of Rarotonga; and that this property was in the v}{\fs24\lang2057\langfe1033\langnp2057\insrsid7156869\charrsid11422238 ery centre of this prime area. }{\fs24\lang2057\langfe1033\langnp2057\insrsid15221467\charrsid11422238 
This Mr Tylor claimed with some justification made this section one of the best on Rarotonga.}{\fs24\lang2057\langfe1033\langnp2057\insrsid16407831\charrsid11422238 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid15221467\charrsid11422238 
\par In arriving at his estimate of value for this property Mr Tylor valued the beach front at $30,000; the middle and road front at $40,000 and the low lying area }{\fs24\lang2057\langfe1033\langnp2057\insrsid10573541\charrsid11422238 
at $1,000, a total of $71,000. }{\fs24\lang2057\langfe1033\langnp2057\insrsid15221467\charrsid11422238 He believed however that as a commercial proposition for hotel or motel development the section as a Block would be valued at between $90,000 and 
$100,000.
\par 
\par There is no doubt that this is a desirable section situated on the best beach frontage on Rarotonga; from a development point of view it has the added advantage of area uncluttered by occupation rights }{
\fs24\lang2057\langfe1033\langnp2057\insrsid2635066\charrsid11422238 or other similar restrictions. }{\fs24\lang2057\langfe1033\langnp2057\insrsid15221467\charrsid11422238 Perhaps at t
his point I should observe that this value assessment relates to the second term of 30}{\fs24\lang2057\langfe1033\langnp2057\insrsid2635066\charrsid11422238 
 years of the Lease in favour of Mrs Worthington. The rental for the first 30 year term of the lease was $14 p.a. as from 1st December 1950. This highlights the unfairness to Lessors of 21 of 30 year}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15221467\charrsid11422238  lease terms before any r}{\fs24\lang2057\langfe1033\langnp2057\insrsid3434915\charrsid11422238 eview of rental is undertaken. }{
\fs24\lang2057\langfe1033\langnp2057\insrsid15221467\charrsid11422238 However now it will probably highlight the difficulties of the Lessee in trying to cope with a one residential section usage while paying a ren
tal based on commercial property comparisons as have }{\fs24\lang2057\langfe1033\langnp2057\insrsid3434915\charrsid11422238 been submitted by both Counsel.}{\fs24\lang2057\langfe1033\langnp2057\insrsid15221467\charrsid11422238 
 The advantages to both parties in negotiating a new lease at this time}{\fs24\lang2057\langfe1033\langnp2057\insrsid1008871\charrsid11422238  would seem very desirable }{\fs24\lang2057\langfe1033\langnp2057\insrsid14096837 -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid3212731\charrsid11422238  the owners could have developed their land as a hotel or motel while at the same time giving Mrs Worthington a \'bc acre or less for the next 30 years or more as a}{
\fs24\lang2057\langfe1033\langnp2057\insrsid1008871\charrsid11422238  residence. Now the probable outcome of any rental I fix will}{\fs24\lang2057\langfe1033\langnp2057\insrsid3212731\charrsid11422238 
 mean that the landowners will be receiving too little }{\fs24\lang2057\langfe1033\langnp2057\insrsid204856\charrsid11422238 while}{\fs24\lang2057\langfe1033\langnp2057\insrsid3212731\charrsid11422238  Mrs Worthi}{
\fs24\lang2057\langfe1033\langnp2057\insrsid7481503\charrsid11422238 ngton will be paying too much. }{\fs24\lang2057\langfe1033\langnp2057\insrsid3212731\charrsid11422238 A negotiated arrangement would have corrected both anomalies which will}{
\fs24\lang2057\langfe1033\langnp2057\insrsid11615521\charrsid11422238  flow from any decision I make.}{\fs24\lang2057\langfe1033\langnp2057\insrsid3212731\charrsid11422238 
 However these observations are an aside and I am required now to determine the valuation on the facts presented.}{\fs24\lang2057\langfe1033\langnp2057\insrsid15221467\charrsid11422238 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid3212731\charrsid11422238 
\par The comparative values may be summarised as follows:
\par 
\par }\trowd \irow0\irowband0\ts15\trgaph108\trleft612\trftsWidth3\trwWidth5868\trftsWidthB3\trftsWidthA3\trautofit1\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 
\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth396\clshdrawnil \cellx1008\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl 
\cltxlrtb\clftsWidth3\clwWidth5472\clshdrawnil \cellx6480\pard\plain \ql \li0\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin0\pararsid16407831\yts15 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {
\fs24\lang2057\langfe1033\langnp2057\insrsid4850397\charrsid11422238 1.\cell Rarotongan Hotel \endash  8 acres, 1 rood, 14 perches}{\fs24\lang2057\langfe1033\langnp2057\insrsid14096837 -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid4850397\charrsid11422238 
\par }\pard \ql \li720\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin720\pararsid3560141\yts15 {\fs24\lang2057\langfe1033\langnp2057\insrsid3560141\charrsid11422238 Valuation 1982 }{\fs24\lang2057\langfe1033\langnp2057\insrsid14096837 -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid3560141\charrsid11422238  $20,000 per acre\cell }\pard\plain \ql \li0\ri0\widctlpar\intbl\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {
\fs24\lang2057\langfe1033\langnp2057\insrsid4850397\charrsid11422238 \trowd \irow0\irowband0
\ts15\trgaph108\trleft612\trftsWidth3\trwWidth5868\trftsWidthB3\trftsWidthA3\trautofit1\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrtbl 
\clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth396\clshdrawnil \cellx1008\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth5472\clshdrawnil \cellx6480\row 
}\pard\plain \ql \li0\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin0\pararsid16407831\yts15 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid4850397\charrsid11422238 \cell \cell 
}\pard\plain \ql \li0\ri0\widctlpar\intbl\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid4850397\charrsid11422238 \trowd \irow1\irowband1
\ts15\trgaph108\trleft612\trftsWidth3\trwWidth5868\trftsWidthB3\trftsWidthA3\trautofit1\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrtbl 
\clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth396\clshdrawnil \cellx1008\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth5472\clshdrawnil \cellx6480\row 
}\pard\plain \ql \li0\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin0\pararsid16407831\yts15 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid3560141\charrsid11422238 2.\cell 
Edgewater Motel
\par }\pard \ql \li720\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin720\pararsid3560141\yts15 {\fs24\lang2057\langfe1033\langnp2057\insrsid3560141\charrsid11422238 Valuation 1979 }{\fs24\lang2057\langfe1033\langnp2057\insrsid14096837 -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid3560141\charrsid11422238  $10,000 per acre\cell }\pard\plain \ql \li0\ri0\widctlpar\intbl\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {
\fs24\lang2057\langfe1033\langnp2057\insrsid3560141\charrsid11422238 \trowd \irow2\irowband2
\ts15\trgaph108\trleft612\trftsWidth3\trwWidth5868\trftsWidthB3\trftsWidthA3\trautofit1\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrtbl 
\clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth396\clshdrawnil \cellx1008\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth5472\clshdrawnil \cellx6480\row 
}\pard\plain \ql \li0\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin0\pararsid16407831\yts15 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid3560141\charrsid11422238 \cell }\pard 
\ql \li720\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin720\pararsid3560141\yts15 {\fs24\lang2057\langfe1033\langnp2057\insrsid3560141\charrsid11422238 \cell }\pard\plain 
\ql \li0\ri0\widctlpar\intbl\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid3560141\charrsid11422238 \trowd \irow3\irowband3
\ts15\trgaph108\trleft612\trftsWidth3\trwWidth5868\trftsWidthB3\trftsWidthA3\trautofit1\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrtbl 
\clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth396\clshdrawnil \cellx1008\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth5472\clshdrawnil \cellx6480\row 
}\pard\plain \ql \li0\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin0\pararsid16407831\yts15 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid3560141\charrsid11422238 3.\cell Beach Hotel

\par }\pard \ql \li720\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin720\pararsid3560141\yts15 {\fs24\lang2057\langfe1033\langnp2057\insrsid3560141\charrsid11422238 Valuation 1979 }{\fs24\lang2057\langfe1033\langnp2057\insrsid14096837 -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid3560141\charrsid11422238  $10,000 per acre\cell }\pard\plain \ql \li0\ri0\widctlpar\intbl\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {
\fs24\lang2057\langfe1033\langnp2057\insrsid3560141\charrsid11422238 \trowd \irow4\irowband4
\ts15\trgaph108\trleft612\trftsWidth3\trwWidth5868\trftsWidthB3\trftsWidthA3\trautofit1\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrtbl 
\clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth396\clshdrawnil \cellx1008\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth5472\clshdrawnil \cellx6480\row 
}\pard\plain \ql \li0\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin0\pararsid16407831\yts15 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid3560141\charrsid11422238 \cell \cell 
}\pard\plain \ql \li0\ri0\widctlpar\intbl\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid3560141\charrsid11422238 \trowd \irow5\irowband5
\ts15\trgaph108\trleft612\trftsWidth3\trwWidth5868\trftsWidthB3\trftsWidthA3\trautofit1\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrtbl 
\clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth396\clshdrawnil \cellx1008\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth5472\clshdrawnil \cellx6480\row 
}\pard\plain \ql \li0\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin0\pararsid16407831\yts15 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid3560141\charrsid11422238 4.\cell 
Little Polynesian Hotel \endash  1 acre, 2 rood, 13 perches \endash 
\par }\pard \ql \li720\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin720\pararsid3560141\yts15 {\fs24\lang2057\langfe1033\langnp2057\insrsid3560141\charrsid11422238 Valuation 1979 }{\fs24\lang2057\langfe1033\langnp2057\insrsid14096837 -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid3560141\charrsid11422238  $20,000 per acre\cell }\pard\plain \ql \li0\ri0\widctlpar\intbl\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {
\fs24\lang2057\langfe1033\langnp2057\insrsid3560141\charrsid11422238 \trowd \irow6\irowband6
\ts15\trgaph108\trleft612\trftsWidth3\trwWidth5868\trftsWidthB3\trftsWidthA3\trautofit1\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrtbl 
\clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth396\clshdrawnil \cellx1008\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth5472\clshdrawnil \cellx6480\row 
}\pard\plain \ql \li0\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin0\pararsid16407831\yts15 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid3560141\charrsid11422238 \cell \cell 
}\pard\plain \ql \li0\ri0\widctlpar\intbl\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid3560141\charrsid11422238 \trowd \irow7\irowband7
\ts15\trgaph108\trleft612\trftsWidth3\trwWidth5868\trftsWidthB3\trftsWidthA3\trautofit1\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrtbl 
\clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth396\clshdrawnil \cellx1008\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth5472\clshdrawnil \cellx6480\row 
}\pard\plain \ql \li0\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin0\pararsid16407831\yts15 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid3560141\charrsid11422238 5.\cell Tamure Hotel 
}{\fs24\lang2057\langfe1033\langnp2057\insrsid14096837 (}{\fs24\lang2057\langfe1033\langnp2057\insrsid3560141\charrsid11422238 adjoining site}{\fs24\lang2057\langfe1033\langnp2057\insrsid14096837 )}{
\fs24\lang2057\langfe1033\langnp2057\insrsid3560141\charrsid11422238 
\par }\pard \ql \li720\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin720\pararsid3560141\yts15 {\fs24\lang2057\langfe1033\langnp2057\insrsid3560141\charrsid11422238 Valuation 1981 }{\fs24\lang2057\langfe1033\langnp2057\insrsid14096837 -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid3560141\charrsid11422238  $9,600 per acre\cell }\pard\plain \ql \li0\ri0\widctlpar\intbl\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {
\fs24\lang2057\langfe1033\langnp2057\insrsid3560141\charrsid11422238 \trowd \irow8\irowband8\lastrow 
\ts15\trgaph108\trleft612\trftsWidth3\trwWidth5868\trftsWidthB3\trftsWidthA3\trautofit1\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrtbl 
\clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth396\clshdrawnil \cellx1008\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth5472\clshdrawnil \cellx6480\row }\pard 
\ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid3212731 {\fs24\lang2057\langfe1033\langnp2057\insrsid3212731\charrsid11422238 
\par Mr Clarke submits that the ratios of the depth of this section }{\fs24\lang2057\langfe1033\langnp2057\insrsid14096837 "}{\fs24\lang2057\langfe1033\langnp2057\insrsid3212731\charrsid11422238 to the beach frontage and main road frontage }{
\fs24\lang2057\langfe1033\langnp2057\insrsid14096837 (}{\fs24\lang2057\langfe1033\langnp2057\insrsid3212731\charrsid11422238 where applicable}{\fs24\lang2057\langfe1033\langnp2057\insrsid14096837 )}{
\fs24\lang2057\langfe1033\langnp2057\insrsid3212731\charrsid11422238  is far infe}{\fs24\lang2057\langfe1033\langnp2057\insrsid7020030\charrsid11422238 rior to the other properties.}{\fs24\lang2057\langfe1033\langnp2057\insrsid14096837 "}{
\fs24\lang2057\langfe1033\langnp2057\insrsid7020030\charrsid11422238  }{\fs24\lang2057\langfe1033\langnp2057\insrsid3212731\charrsid11422238 Conceding that this may be so the acknowledged superiority of this site to Aorangi and the Rarotongan s}{
\fs24\lang2057\langfe1033\langnp2057\insrsid7020030\charrsid11422238 ite is confirmed by Mr Clarke. }{\fs24\lang2057\langfe1033\langnp2057\insrsid3212731\charrsid11422238 He goe}{\fs24\lang2057\langfe1033\langnp2057\insrsid7020030\charrsid11422238 
s further and concedes that Muri}{\fs24\lang2057\langfe1033\langnp2057\insrsid3212731\charrsid11422238  generally is superior to the Little Polynesian area and this must of necessity offset any disadvantages based on rati}{
\fs24\lang2057\langfe1033\langnp2057\insrsid2781925\charrsid11422238 os of depth to beach frontage. }{\fs24\lang2057\langfe1033\langnp2057\insrsid3212731\charrsid11422238 
For these reasons the following comparisons of the established valuations of the Rarotongan Hotel and Little Polynesian Motel fixed in 1982 and 1979 respectively would be relative to this present exercise, viz:
\par 
\par }\trowd \irow0\irowband0\ts15\trgaph108\trleft612\trftsWidth3\trwWidth9108\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt
\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth496\clshdrawnil \cellx1108\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth2310\clshdrawnil \cellx3418
\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth363\clshdrawnil \cellx3781\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl 
\cltxlrtb\clftsWidth3\clwWidth450\clshdrawnil \cellx4231\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth683\clshdrawnil \cellx4914\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl 
\clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth576\clshdrawnil \cellx5490\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth4230\clshdrawnil \cellx9720\pard\plain 
\ql \li0\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin0\pararsid3212731\yts15 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid14096837 (}{
\fs24\lang2057\langfe1033\langnp2057\insrsid9927996\charrsid11422238 a}{\fs24\lang2057\langfe1033\langnp2057\insrsid14096837 )}{\fs24\lang2057\langfe1033\langnp2057\insrsid9927996\charrsid11422238 \cell Little Polynesian area \cell =\cell 1a\cell 2r\cell 
13p\cell }\pard \ql \li0\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin0\pararsid9927996\yts15 {\fs24\lang2057\langfe1033\langnp2057\insrsid9927996\charrsid11422238 \cell }\pard\plain 
\ql \li0\ri0\widctlpar\intbl\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid6507239\charrsid11422238 \trowd \irow0\irowband0
\ts15\trgaph108\trleft612\trftsWidth3\trwWidth9108\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrtbl \clbrdrl
\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth496\clshdrawnil \cellx1108\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth2310\clshdrawnil \cellx3418\clvertalt\clbrdrt
\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth363\clshdrawnil \cellx3781\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth450\clshdrawnil \cellx4231
\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth683\clshdrawnil \cellx4914\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl 
\cltxlrtb\clftsWidth3\clwWidth576\clshdrawnil \cellx5490\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth4230\clshdrawnil \cellx9720\row }\trowd \irow1\irowband1
\ts15\trgaph108\trleft612\trftsWidth3\trwWidth9108\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrtbl \clbrdrl
\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth496\clshdrawnil \cellx1108\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth2310\clshdrawnil \cellx3418\clvertalt\clbrdrt
\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth363\clshdrawnil \cellx3781\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth450\clshdrawnil 
\cellx4231\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth683\clshdrawnil \cellx4914\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrtbl 
\cltxlrtb\clftsWidth3\clwWidth576\clshdrawnil \cellx5490\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth4230\clshdrawnil \cellx9720\pard\plain 
\ql \li0\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin0\pararsid3212731\yts15 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid9927996\charrsid11422238 \cell \cell \cell \cell x2}{
\fs24\lang2057\langfe1033\super\langnp2057\insrsid9927996\charrsid11422238 1}{\fs24\lang2057\langfe1033\langnp2057\insrsid9927996\charrsid11422238 /}{\fs24\lang2057\langfe1033\sub\langnp2057\insrsid9927996\charrsid11422238 4}{
\fs24\lang2057\langfe1033\langnp2057\insrsid9927996\charrsid11422238 \cell \cell \cell }\pard\plain \ql \li0\ri0\widctlpar\intbl\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {
\fs24\lang2057\langfe1033\langnp2057\insrsid9927996\charrsid11422238 \trowd \irow1\irowband1
\ts15\trgaph108\trleft612\trftsWidth3\trwWidth9108\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrtbl \clbrdrl
\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth496\clshdrawnil \cellx1108\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth2310\clshdrawnil \cellx3418\clvertalt\clbrdrt
\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth363\clshdrawnil \cellx3781\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth450\clshdrawnil 
\cellx4231\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth683\clshdrawnil \cellx4914\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrtbl 
\cltxlrtb\clftsWidth3\clwWidth576\clshdrawnil \cellx5490\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth4230\clshdrawnil \cellx9720\row }\trowd \irow2\irowband2
\ts15\trgaph108\trleft612\trftsWidth3\trwWidth9108\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrtbl \clbrdrl
\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth496\clshdrawnil \cellx1108\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth2310\clshdrawnil \cellx3418\clvertalt\clbrdrt
\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth363\clshdrawnil \cellx3781\clvertalt\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth450\clshdrawnil 
\cellx4231\clvertalt\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth683\clshdrawnil \cellx4914\clvertalt\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl 
\cltxlrtb\clftsWidth3\clwWidth576\clshdrawnil \cellx5490\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth4230\clshdrawnil \cellx9720\pard\plain 
\ql \li0\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin0\pararsid3212731\yts15 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid9927996\charrsid11422238 \cell \cell =\cell 3a\cell 2r\cell 
09p\cell \cell }\pard\plain \ql \li0\ri0\widctlpar\intbl\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid9927996\charrsid11422238 
\trowd \irow2\irowband2\ts15\trgaph108\trleft612\trftsWidth3\trwWidth9108\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt
\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth496\clshdrawnil \cellx1108\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth2310\clshdrawnil \cellx3418
\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth363\clshdrawnil \cellx3781\clvertalt\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl 
\cltxlrtb\clftsWidth3\clwWidth450\clshdrawnil \cellx4231\clvertalt\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth683\clshdrawnil \cellx4914\clvertalt\clbrdrt\brdrs\brdrw10 \clbrdrl\brdrtbl \clbrdrb
\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth576\clshdrawnil \cellx5490\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth4230\clshdrawnil \cellx9720\row }\trowd \irow3\irowband3
\ts15\trgaph108\trleft612\trftsWidth3\trwWidth9108\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrtbl \clbrdrl
\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth9108\clshdrawnil \cellx9720\pard\plain \ql \li0\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin0\pararsid3212731\yts15 
\fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid6507239\charrsid11422238 \cell }\pard\plain \ql \li0\ri0\widctlpar\intbl\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0 
\fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid6507239\charrsid11422238 \trowd \irow3\irowband3
\ts15\trgaph108\trleft612\trftsWidth3\trwWidth9108\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrtbl \clbrdrl
\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth9108\clshdrawnil \cellx9720\row }\trowd \irow4\irowband4
\ts15\trgaph108\trleft612\trftsWidth3\trwWidth9108\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrtbl \clbrdrl
\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth496\clshdrawnil \cellx1108\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth8612\clshdrawnil \cellx9720\pard\plain 
\ql \li0\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin0\pararsid3212731\yts15 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid9927996\charrsid11422238 \cell 
The valuation of 1a 2r 13p = $ 30,000 x 2}{\fs24\lang2057\langfe1033\super\langnp2057\insrsid9927996\charrsid11422238 1}{\fs24\lang2057\langfe1033\langnp2057\insrsid9927996\charrsid11422238 /}{
\fs24\lang2057\langfe1033\sub\langnp2057\insrsid9927996\charrsid11422238 4}{\fs24\lang2057\langfe1033\langnp2057\insrsid9927996\charrsid11422238 \cell }\pard\plain \ql \li0\ri0\widctlpar\intbl\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0 
\fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid9927996\charrsid11422238 \trowd \irow4\irowband4
\ts15\trgaph108\trleft612\trftsWidth3\trwWidth9108\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrtbl \clbrdrl
\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth496\clshdrawnil \cellx1108\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth8612\clshdrawnil \cellx9720\row 
}\trowd \irow5\irowband5\ts15\trgaph108\trleft612\trftsWidth3\trwWidth9108\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt
\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth496\clshdrawnil \cellx1108\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth2051\clshdrawnil \cellx3159
\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth543\clshdrawnil \cellx3702\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl 
\cltxlrtb\clftsWidth3\clwWidth6018\clshdrawnil \cellx9720\pard\plain \ql \li0\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin0\pararsid3212731\yts15 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {
\fs24\lang2057\langfe1033\langnp2057\insrsid9927996\charrsid11422238 \cell \cell \cell = $ 67, 500.00\cell }\pard\plain \ql \li0\ri0\widctlpar\intbl\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0 
\fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid9927996\charrsid11422238 \trowd \irow5\irowband5
\ts15\trgaph108\trleft612\trftsWidth3\trwWidth9108\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrtbl \clbrdrl
\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth496\clshdrawnil \cellx1108\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth2051\clshdrawnil \cellx3159\clvertalt\clbrdrt
\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth543\clshdrawnil \cellx3702\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth6018\clshdrawnil \cellx9720
\row }\trowd \irow6\irowband6\ts15\trgaph108\trleft612\trftsWidth3\trwWidth9108\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt
\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth496\clshdrawnil \cellx1108\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth8612\clshdrawnil 
\cellx9720\pard\plain \ql \li0\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin0\pararsid3212731\yts15 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid9927996\charrsid11422238 \cell \cell 
}\pard\plain \ql \li0\ri0\widctlpar\intbl\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid9927996\charrsid11422238 \trowd \irow6\irowband6
\ts15\trgaph108\trleft612\trftsWidth3\trwWidth9108\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrtbl \clbrdrl
\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth496\clshdrawnil \cellx1108\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth8612\clshdrawnil \cellx9720\row }\pard\plain 
\ql \li0\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin0\pararsid3212731\yts15 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid9927996\charrsid11422238 \cell Thus, }{
\fs24\lang2057\langfe1033\langnp2057\insrsid6507239\charrsid11422238 on a comparative area basis of this section of 3a 2r 10p i.e. 2}{\fs24\lang2057\langfe1033\super\langnp2057\insrsid6507239\charrsid11422238 1}{
\fs24\lang2057\langfe1033\langnp2057\insrsid6507239\charrsid11422238 /}{\fs24\lang2057\langfe1033\sub\langnp2057\insrsid6507239\charrsid11422238 4 }{\fs24\lang2057\langfe1033\langnp2057\insrsid6507239\charrsid11422238 times the size of Little Polynesian 
\endash  a valuation of $67,500 is arrived at.}{\fs24\lang2057\langfe1033\langnp2057\insrsid9927996\charrsid11422238 \cell }\pard\plain \ql \li0\ri0\widctlpar\intbl\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0 
\fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid9927996\charrsid11422238 \trowd \irow7\irowband7
\ts15\trgaph108\trleft612\trftsWidth3\trwWidth9108\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tblrsid14096837\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt
\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth496\clshdrawnil \cellx1108\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth8612\clshdrawnil \cellx9720
\row }\trowd \irow8\irowband8\ts15\trgaph108\trleft612\trftsWidth3\trwWidth9108\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt
\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth9108\clshdrawnil \cellx9720\pard\plain \ql \li0\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin0\pararsid3212731\yts15 
\fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid6507239\charrsid11422238 \cell }\pard\plain \ql \li0\ri0\widctlpar\intbl\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0 
\fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid6507239\charrsid11422238 \trowd \irow8\irowband8
\ts15\trgaph108\trleft612\trftsWidth3\trwWidth9108\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrtbl \clbrdrl
\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth9108\clshdrawnil \cellx9720\row }\trowd \irow9\irowband9
\ts15\trgaph108\trleft612\trftsWidth3\trwWidth9108\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrtbl \clbrdrl
\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth496\clshdrawnil \cellx1108\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth8612\clshdrawnil \cellx9720\pard\plain 
\ql \li0\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin0\pararsid3212731\yts15 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid14096837 (}{
\fs24\lang2057\langfe1033\langnp2057\insrsid6507239\charrsid11422238 b}{\fs24\lang2057\langfe1033\langnp2057\insrsid14096837 )}{\fs24\lang2057\langfe1033\langnp2057\insrsid6507239\charrsid11422238 \cell Rarotongan Hotel area = 8a 1r 14p\cell }\pard\plain 
\ql \li0\ri0\widctlpar\intbl\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid6507239\charrsid11422238 \trowd \irow9\irowband9
\ts15\trgaph108\trleft612\trftsWidth3\trwWidth9108\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrtbl \clbrdrl
\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth496\clshdrawnil \cellx1108\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth8612\clshdrawnil \cellx9720\row 
}\trowd \irow10\irowband10\ts15\trgaph108\trleft612\trftsWidth3\trwWidth9108\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt
\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth496\clshdrawnil \cellx1108\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth2051\clshdrawnil 
\cellx3159\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth543\clshdrawnil \cellx3702\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl 
\cltxlrtb\clftsWidth3\clwWidth529\clshdrawnil \cellx4231\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth683\clshdrawnil \cellx4914\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl 
\clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth629\clshdrawnil \cellx5543\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth4177\clshdrawnil \cellx9720\pard\plain 
\ql \li0\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin0\pararsid3212731\yts15 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid9927996\charrsid11422238 \cell \cell \cell \cell \cell 
\cell \cell }\pard\plain \ql \li0\ri0\widctlpar\intbl\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid9927996\charrsid11422238 
\trowd \irow10\irowband10\ts15\trgaph108\trleft612\trftsWidth3\trwWidth9108\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt
\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth496\clshdrawnil \cellx1108\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth2051\clshdrawnil 
\cellx3159\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth543\clshdrawnil \cellx3702\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl 
\cltxlrtb\clftsWidth3\clwWidth529\clshdrawnil \cellx4231\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth683\clshdrawnil \cellx4914\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl 
\clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth629\clshdrawnil \cellx5543\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth4177\clshdrawnil \cellx9720\row }\trowd \irow11\irowband11
\ts15\trgaph108\trleft612\trftsWidth3\trwWidth9108\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrtbl \clbrdrl
\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth496\clshdrawnil \cellx1108\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth8612\clshdrawnil \cellx9720\pard\plain 
\ql \li0\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin0\pararsid3212731\yts15 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid6507239\charrsid11422238 \cell }{
\fs24\lang2057\langfe1033\langnp2057\insrsid9399131\charrsid11422238 The ratio to the present site is 33:14}{\fs24\lang2057\langfe1033\langnp2057\insrsid6507239\charrsid11422238 \cell }\pard\plain 
\ql \li0\ri0\widctlpar\intbl\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid6507239\charrsid11422238 \trowd \irow11\irowband11
\ts15\trgaph108\trleft612\trftsWidth3\trwWidth9108\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrtbl \clbrdrl
\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth496\clshdrawnil \cellx1108\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth8612\clshdrawnil \cellx9720\row 
}\trowd \irow12\irowband12\ts15\trgaph108\trleft612\trftsWidth3\trwWidth9108\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt
\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth9108\clshdrawnil \cellx9720\pard\plain \ql \li0\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin0\pararsid3212731\yts15 
\fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid5452669\charrsid11422238 \cell }\pard\plain \ql \li0\ri0\widctlpar\intbl\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0 
\fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid5452669\charrsid11422238 \trowd \irow12\irowband12
\ts15\trgaph108\trleft612\trftsWidth3\trwWidth9108\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrtbl \clbrdrl
\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth9108\clshdrawnil \cellx9720\row }\trowd \irow13\irowband13
\ts15\trgaph108\trleft612\trftsWidth3\trwWidth9108\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrtbl \clbrdrl
\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth496\clshdrawnil \cellx1108\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth8612\clshdrawnil \cellx9720\pard\plain 
\ql \li0\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin0\pararsid3212731\yts15 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid5452669\charrsid11422238 \cell 
The Hotel valuation was fixed at $166,666.00\cell }\pard\plain \ql \li0\ri0\widctlpar\intbl\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {
\fs24\lang2057\langfe1033\langnp2057\insrsid5452669\charrsid11422238 \trowd \irow13\irowband13
\ts15\trgaph108\trleft612\trftsWidth3\trwWidth9108\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrtbl \clbrdrl
\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth496\clshdrawnil \cellx1108\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth8612\clshdrawnil \cellx9720\row 
}\trowd \irow14\irowband14\ts15\trgaph108\trleft612\trftsWidth3\trwWidth9108\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt
\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth496\clshdrawnil \cellx1108\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth1142\clshdrawnil 
\cellx2250\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth996\clshdrawnil \cellx3246\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl 
\cltxlrtb\clftsWidth3\clwWidth444\clshdrawnil \cellx3690\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth469\clshdrawnil \cellx4159\clvmgf\clvertalc\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb
\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth611\clshdrawnil \cellx4770\clvmgf\clvertalc\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth4950\clshdrawnil \cellx9720\pard\plain 
\ql \li0\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin0\pararsid3212731\yts15 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid5452669\charrsid11422238 \cell \cell 166,666\cell x\cell 14
\cell }\pard \qc \li0\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin0\pararsid5452669\yts15 {\fs24\lang2057\langfe1033\langnp2057\insrsid5452669\charrsid11422238 =\cell }\pard 
\ql \li0\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin0\pararsid5452669\yts15 {\fs24\lang2057\langfe1033\langnp2057\insrsid5452669\charrsid11422238 $ 70,706.00\cell }\pard\plain 
\ql \li0\ri0\widctlpar\intbl\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid5452669\charrsid11422238 \trowd \irow14\irowband14
\ts15\trgaph108\trleft612\trftsWidth3\trwWidth9108\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrtbl \clbrdrl
\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth496\clshdrawnil \cellx1108\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth1142\clshdrawnil \cellx2250\clvertalt\clbrdrt
\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth996\clshdrawnil \cellx3246\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth444\clshdrawnil 
\cellx3690\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrs\brdrw10 \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth469\clshdrawnil \cellx4159\clvmgf\clvertalc\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl 
\cltxlrtb\clftsWidth3\clwWidth611\clshdrawnil \cellx4770\clvmgf\clvertalc\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth4950\clshdrawnil \cellx9720\row }\trowd \irow15\irowband15
\ts15\trgaph108\trrh260\trleft612\trftsWidth3\trwWidth9108\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrtbl 
\clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth496\clshdrawnil \cellx1108\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth1142\clshdrawnil \cellx2250\clvertalt
\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth996\clshdrawnil \cellx3246\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth444\clshdrawnil 
\cellx3690\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth469\clshdrawnil \cellx4159\clvmrg\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl 
\cltxlrtb\clftsWidth3\clwWidth611\clshdrawnil \cellx4770\clvmrg\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth4950\clshdrawnil \cellx9720\pard\plain 
\ql \li0\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin0\pararsid3212731\yts15 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid5452669\charrsid11422238 \cell \cell }\pard 
\qc \li0\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin0\pararsid5452669\yts15 {\fs24\lang2057\langfe1033\langnp2057\insrsid5452669\charrsid11422238 1\cell }\pard 
\ql \li0\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin0\pararsid3212731\yts15 {\fs24\lang2057\langfe1033\langnp2057\insrsid5452669\charrsid11422238 \cell 33\cell \cell \cell }\pard\plain 
\ql \li0\ri0\widctlpar\intbl\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid5452669\charrsid11422238 \trowd \irow15\irowband15
\ts15\trgaph108\trrh260\trleft612\trftsWidth3\trwWidth9108\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrtbl 
\clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth496\clshdrawnil \cellx1108\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth1142\clshdrawnil \cellx2250\clvertalt
\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth996\clshdrawnil \cellx3246\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth444\clshdrawnil 
\cellx3690\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth469\clshdrawnil \cellx4159\clvmrg\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl 
\cltxlrtb\clftsWidth3\clwWidth611\clshdrawnil \cellx4770\clvmrg\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth4950\clshdrawnil \cellx9720\row }\trowd \irow16\irowband16
\ts15\trgaph108\trleft612\trftsWidth3\trwWidth9108\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrtbl \clbrdrl
\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth9108\clshdrawnil \cellx9720\pard\plain \ql \li0\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin0\pararsid3212731\yts15 
\fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid5452669\charrsid11422238 \cell }\pard\plain \ql \li0\ri0\widctlpar\intbl\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0 
\fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid5452669\charrsid11422238 \trowd \irow16\irowband16
\ts15\trgaph108\trleft612\trftsWidth3\trwWidth9108\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrtbl \clbrdrl
\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth9108\clshdrawnil \cellx9720\row }\trowd \irow17\irowband17\lastrow 
\ts15\trgaph108\trleft612\trftsWidth3\trwWidth9108\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrtbl \clbrdrl
\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth496\clshdrawnil \cellx1108\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth8612\clshdrawnil \cellx9720\pard\plain 
\ql \li0\ri0\nowidctlpar\intbl\wrapdefault\faauto\adjustright\rin0\lin0\pararsid3212731\yts15 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid14096837 (}{
\fs24\lang2057\langfe1033\langnp2057\insrsid5452669\charrsid11422238 c}{\fs24\lang2057\langfe1033\langnp2057\insrsid14096837 )}{\fs24\lang2057\langfe1033\langnp2057\insrsid5452669\charrsid11422238 \cell 
This land at Muri comprises 3a 2r 10p Valued at $20,000 per acre }{\fs24\lang2057\langfe1033\langnp2057\insrsid14096837 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid5452669\charrsid11422238  the valuation }{
\fs24\lang2057\langfe1033\langnp2057\insrsid14096837\charrsid11422238 fixed}{\fs24\lang2057\langfe1033\langnp2057\insrsid5452669\charrsid11422238  for both the Rarotongan Hotel and the Little Polynesian Motel }{
\fs24\lang2057\langfe1033\langnp2057\insrsid14096837 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid5452669\charrsid11422238  the total valuation is $71,250.00.\cell }\pard\plain 
\ql \li0\ri0\widctlpar\intbl\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs24\lang2057\langfe1033\langnp2057\insrsid5452669\charrsid11422238 \trowd \irow17\irowband17\lastrow 
\ts15\trgaph108\trleft612\trftsWidth3\trwWidth9108\trftsWidthB3\trftsWidthA3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tbllkhdrrows\tbllklastrow\tbllkhdrcols\tbllklastcol\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrtbl \clbrdrl
\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth496\clshdrawnil \cellx1108\clvertalt\clbrdrt\brdrtbl \clbrdrl\brdrtbl \clbrdrb\brdrtbl \clbrdrr\brdrtbl \cltxlrtb\clftsWidth3\clwWidth8612\clshdrawnil \cellx9720\row }\pard 
\ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid10833116 {\fs24\lang2057\langfe1033\langnp2057\insrsid2249331\charrsid11422238 
\par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid16407831 {\fs24\lang2057\langfe1033\langnp2057\insrsid16407831\charrsid11422238 Thus related to these comparative areas, one the lesser, the other}{
\fs24\lang2057\langfe1033\langnp2057\insrsid2249331\charrsid11422238  }{\fs24\lang2057\langfe1033\langnp2057\insrsid16407831\charrsid11422238 the larger, and calculated at $20,000 per acre the results approximate each other. Mr Cl
arke would no doubt contend that it is unreasonable to place an overall value on the total area which would mean a}{\fs24\lang2057\langfe1033\langnp2057\insrsid2249331\charrsid11422238  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid16407831\charrsid11422238 $20,000 per acre valuation on that area of swamp which he values at $3}{\fs24\lang2057\langfe1033\langnp2057\insrsid2249331\charrsid11422238 ,}{
\fs24\lang2057\langfe1033\langnp2057\insrsid16407831\charrsid11422238 000}{\fs24\lang2057\langfe1033\langnp2057\insrsid2249331\charrsid11422238  per acre.}{\fs24\lang2057\langfe1033\langnp2057\insrsid6119643\charrsid11422238  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid2249331\charrsid11422238 On the other hand Mr }{\fs24\lang2057\langfe1033\langnp2057\insrsid16407831\charrsid11422238 Tylor wo}{\fs24\lang2057\langfe1033\langnp2057\insrsid2249331\charrsid11422238 
uld no doubt contend that it is}{\fs24\lang2057\langfe1033\langnp2057\insrsid16407831\charrsid11422238 
 unreasonable to use a $20,000 per acre figure for beach frontage which he values at $60,000 per acre. However those are areas in isolation, and the variation from $60,000 to $3,000 indicates the anomolies that could flow fro
m this isolation valuation approach.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid2249331\charrsid11422238 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid16407831\charrsid11422238 This is a comparatively large Block of land, sited on an attractive beach frontage. It is acknowledged as probably one }{
\fs24\lang2057\langfe1033\langnp2057\insrsid921006\charrsid11422238 of the best sites on Rarotonga. }{\fs24\lang2057\langfe1033\langnp2057\insrsid16407831\charrsid11422238 It seems reasonable that it should be related to valuations establi
shed on other comparable }{\fs24\lang2057\langfe1033\langnp2057\insrsid13185454\charrsid11422238 sites. The Rarotongan Hotel and the Little Polynesian Motel sites are comparable and the valuation dates of those }{
\fs24\lang2057\langfe1033\langnp2057\insrsid16407831\charrsid11422238 properties are relevant.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid7411229\charrsid11422238 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid11539702\charrsid11422238 I therefore fix}{\fs24\lang2057\langfe1033\langnp2057\insrsid5322522\charrsid11422238  the value of this land as at}{
\fs24\lang2057\langfe1033\langnp2057\insrsid16407831\charrsid11422238  the }{\fs24\lang2057\langfe1033\langnp2057\insrsid8142171\charrsid11422238 30th}{\fs24\lang2057\langfe1033\langnp2057\insrsid16407831\charrsid11422238  November 1980 at $71,250 a}{
\fs24\lang2057\langfe1033\langnp2057\insrsid5322522\charrsid11422238 nd a consequential rental of $3}{\fs24\lang2057\langfe1033\langnp2057\insrsid10306677\charrsid11422238 ,562.50 p.a. Costs of $150 }{
\fs24\lang2057\langfe1033\langnp2057\insrsid16407831\charrsid11422238 to be paid}{\fs24\lang2057\langfe1033\langnp2057\insrsid13185454\charrsid11422238  }{\fs24\lang2057\langfe1033\langnp2057\insrsid16407831\charrsid11422238 to Mr McFadzien.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid921006\charrsid11422238 
\par }\pard \qc \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid921006 {\b\fs24\lang2057\langfe1033\langnp2057\insrsid5322522\charrsid11422238 Judge}{\b\fs24\lang2057\langfe1033\langnp2057\insrsid921006\charrsid11422238 
\par }}