LAND CLAUSES. Debt 108A) a) The Secretary of State has agreed to make payments of Capital Grant to the Academy Trust pursuant to Clause 37; 108A) b) The payments referred to at 108A(a) are made available to the Academy Trust on an interest free basis; 108A) c) In consideration of the Secretary of State making the payments referred to at 108A(a) and financing the acquisition of the Land, the Academy Trust shall pay the Debt upon termination of this Agreement or in accordance with clauses 108H(b) or 108K(a) or upon any disposition by way of sale of the whole or part of the Land, whether or not such sale has been consented to by the Secretary of State; and 108A) d) The Debt shall be secured by the Legal Charge.
LAND CLAUSES. For the majority of Studio Schools, variations of all or some of the following clauses will need to be inserted. The clauses below are based on the school land being leasehold land. Some of the clauses will be removed / amended if the land is held as freehold land. Clauses 10A, 10G, 10J to 10L, 10N and 10O will be inserted if the Secretary of State assists the Company to acquire the freehold of the school site or a premium is paid by the Secretary of State to acquire leasehold premises for the school. These clauses provide the Secretary of State with protection for the public monies invested in the site. Clause 10M will generally be inserted in such situations where clause 10H is also included (see below). Where 10H is not included, clause 10M will be removed and a minor amendment will be made to clause 10K to remove reference to the use of the option under clause 10E. Clause 10B will generally be inserted in all Funding Agreements. The choice of restriction will depend upon whether a legal charge is being taken over the school site, as well as whether the Company is a non-exempt or exempt charity at the time the school site is being acquired. An additional sub-clause will apply where the land will be subject to a legal charge, but is acquired prior to the Company becoming an exempt charity. Clauses 10C and 10D will be amended should the land in question be freehold land. Clauses 10E and 10F will be inserted into the majority of Funding Agreements; this enables the Secretary of State to continue to use the school site for another Free School or Academy should the Funding Agreement be terminated in order to protect the public investment in the land. Minor amendments may be made to these clauses to reflect the way that the land is held. Clause 10H will be inserted where there are possible conditions that may prevent the land being used as the permanent site of the Studio School – for example if it is deemed to be unsuitable prior to the opening of the Studio School (or where a temporary site is used in the first years of the Studio School before the Studio School moves to the permanent site). This enables the SoS to recover the land for use by another Free School or Academy, or to require the Company to sell the land in order to fund the purchase of an alternative site and to return any public monies not used to purchase the alternative site. Clause 10I will generally be inserted in all Funding Agreements, but will be subject to amendment where no Legal Char...
LAND CLAUSES. [The land clauses deal with the Academy Trust’s obligations in respect of the Academy site, and with protecting the public investment in the land used for the Academy. Other clauses and definitions may need to be inserted into this Agreement, depending on the specific land arrangements for the school site; for example, if the Academy is to open on a temporary site before moving to its permanent site, or if any of the land is unregistered. Choose the appropriate version of the land clauses from the options below, and delete the other versions. Is the Academy site being provided by the EFA? No: Use version 1 if the Academy’s existing site is a freehold. Use version 2 if the Academy’s existing site is held under a lease. Use version 3 if the Academy’s existing site is held under a church supplemental agreement or lease from private site trustees. Use both version 2 and version 3 if the Academy’s existing site is held partly under a lease provided by the LA or a third party landlord and partly under a church supplemental agreement or a lease provided by private site trustees. Yes: Is the new site being acquired freehold or leasehold? Freehold: Use version 4 if the Secretary of State is taking a legal charge over the new site. Use version 5 if the Secretary of State is not taking a legal charge over the new site. Leasehold: Use version 6 if the Secretary of State is taking a legal charge over the new site. Use version 7 if the Secretary of State is not taking a legal charge over the new site.] [Version 1: Existing freehold site]
LAND CLAUSES for insertion where freehold or leasehold land will be held by the Academy Trust • Where a freehold interest in publicly funded land for use by the Academy is to be transferred to the Academy Trust insert all of the following clauses (115A-115E and the definitions of “land” and “insured risks” at clause 4) • Where a leasehold interest in publicly funded land for use by the Academy is to be transferred to the Academy Trust using one of the DfE’s model leases, insert only clauses 115A and the definition of “land” at clause 4 (the other land clauses can be left out as these overlap with what is covered by the lease) • Where the Academy Trust will have both freehold and leasehold interests in publicly funded land, (because it has been transferred more than one piece of land), then insert all the land clauses but the Academy Trust may include a clause saying that clauses 115B-115E do not apply to land in which the Academy Trust holds a leasehold interest only. The following definitions are to be inserted into clause 4:
LAND CLAUSES. [The land clauses deal with the Academy Trust’s obligations in respect of the academy site, and with protecting the public investment in the land used for the academy. Other clauses and definitions may need to be inserted into this Agreement, depending on the specific land arrangements for the school site; for example, if the academy is to open on a temporary site before moving to its permanent site, or if any of the land is unregistered. Choose the appropriate version of the land clauses from the options below, and delete the other versions. Is the academy site being provided by the ESFA? No: Use version 1 if the academy’s existing site is a freehold. Use version 2 if the academy’s existing site is held under a lease. Use version 3 if the academy’s existing site is held under a church supplemental agreement or lease from private site trustees. Use both version 2 and version 3 if the academy’s existing site is held partly under a lease provided by the LA or a third party landlord and partly under a church supplemental agreement or a lease provided by private site trustees. Yes: Is the new site being acquired freehold or leasehold? Freehold: Use version 4 if the Secretary of State is taking a legal charge over the new site. Use version 5 if the Secretary of State is not taking a legal charge over the new site. Leasehold:
LAND CLAUSES. FOR INSERTION WHERE FREEHOLD OR LEASEHOLD LAND WILL BE HELD BY THE COMPANY Where a freehold interest in publicly funded land for use by the Academy is to be transferred to the Company insert all of the following clauses (6A-6D and the definitions of “land” and “insured risks” at clause 1.2). Where a leasehold interest in publicly funded land for use by the Academy is to be transferred to the Company using one of the DfE’s model leases, insert only clauses 6A and the definition of “land” at clause 1.2 (the other land clauses can be left out as these overlap with what is covered by the lease). Where the Company will have both freehold and leasehold interests in publicly funded land, (because it has been transferred more than one piece of land), then insert all the land clauses but the Company may include a clause saying that clauses 6B-6D do not apply to land in which the Company holds a leasehold interest only. The following definitions are to be inserted into clause 1.2:
LAND CLAUSES. Version 2
LAND CLAUSES. Debt 12A Not used Restrictions on Land transfer 12B) Not used. Obligations of the Company
LAND CLAUSES. Debt 108A) Not used. Restrictions on Land transfer 108B) In consideration that it has or will be obtaining a legal interest in the Land, such acquisition being financed by the Secretary of State, the Academy Trust:
LAND CLAUSES. Restrictions on Land transfer
