LAND LEASE 1988 - 1998

The attachment to this item is the 1988 to 1998 Lease Rental agreement for Reserve 28600, the land on which the MGGC golf course and clubhouse are located.

The agreement is between the MGGC and the City of Melville, in which the land is vested from the State of Western Australia. It was prepared by Robinson Cox Barristers and Solicitors.

The agreement specifies the annual rent:

• $10,000 adjusted annually for CPI for the first five years

• “… as may be agreed between the parties … determined by the President … of the Australian Institute of Valuers and Land Administrators” for the last five years

(During those last five years Annual Reports for 1995 and 1996 show a “Lease liability” of $13,514 for both years.)

The lease document is 25 pages in length.