Common use of Rights and Obligations of Owners Clause in Contracts

Rights and Obligations of Owners. 1. The First Owner shall at all times hereafter subject to and with the benefit of the Government Lease have the sole and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Assignee the whole of the Lot and the Development together with the appurtenances thereto and the entire rents and profits thereof SAVE AND EXCEPT the First Assignee’s Unit assigned to the First Assignee as aforesaid and SUBJECT TO the rights and privileges granted to the First Assignee by the Assignment referred to in paragraph (E) of the Recitals above and SUBJECT TO the provisions of this Deed. 2. The First Assignee shall at all times hereafter subject to and with the benefit of the Government Lease and these presents have the full and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Owner the First Assignee’s Unit assigned to the First Assignee by the Assignment referred to in paragraph (E) of the Recitals above together with the appurtenances thereto and the entire rents and profits thereof. 3. Each Undivided Share and the full and exclusive right and privilege to hold, use, occupy and enjoy any part of the Development shall be held by the person or persons from time to time entitled thereto subject to and with the benefit of the rights and privileges provided in the SECOND SCHEDULE hereto and the express covenants and provisions herein contained. 4. The Owner or Owners for the time being of each Undivided Share shall at all times hereafter be bound by and shall observe and perform the covenants, provisions and restrictions contained herein and in the THIRD SCHEDULE hereto and such Owner shall comply with the House Rules from time to time in force so far as the same are binding on such Owner. 5. Subject to the Government Lease, every Owner shall have the full right and liberty without reference to the other Owners or other persons who may be interested in any other Undivided Share or Shares in any way whatsoever and without the necessity of making such other Owners or other persons a party to the transaction to sell, assign, mortgage, lease, license or otherwise dispose of or deal with his Undivided Shares together with the exclusive right and privilege to hold, use, occupy and enjoy such part or parts of the Development which may be held therewith PROVIDED THAT any such sale, assignment, mortgage, lease or licence shall be made expressly subject to and with the benefit of this Deed. 6. The right to the exclusive use, occupation and enjoyment of any part of the Lot or the Development shall not be sold, assigned, mortgaged, charged, leased or otherwise dealt with separately from the Undivided Share with which the same is held PROVIDED ALWAYS THAT the provisions of this Clause shall not restrict the leasing or licensing of any Unit. (a) Every Owner, his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Development Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the same. (b) Every Owner with the exclusive right and privilege to hold, use, occupy and enjoy any Residential Unit together with his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Residential Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the same. (c) Every Owner shall at his own cost and expense be responsible for:- (i) the cleaning, repair, maintenance and replacement of all the windows of his Unit (including, in respect of any Residential Unit and for the avoidance of doubt, the openable window installed in or to any part of the Curtain Wall enclosing his Unit). In respect of the repair, maintenance and replacement of the openable windows install in or to any part of the Curtain Wall enclosing a Residential Unit, the Owner shall only engage contractors nominated and approved by the Manager to carry out such works. In respect of the replacement of the openable windows install in or to any part of the Curtain Wall enclosing his Unit, the Owner shall in addition use such materials as approved by the Manager; and (ii) cleaning of the internal surfaces of the Curtain Wall (including the openable windows and non-openable windows installed therein or thereto) enclosing his Unit. (d) In respect of the cleaning, repair, maintenance and replacement of the Curtain Wall enclosing the Commercial Accommodation, the Owner(s) of the Commercial Accommodation shall only engage contractors nominated and approved by the Manager to carry out such works. In respect of the replacement of any part of the Curtain Wall enclosing Commercial Accommodation, the Owner(s) of the Commercial Accommodation shall in addition use such materials as approved by the Manager. (e) The Owners of Units shall not object, and shall render full cooperation, to the Manager for the purpose of cleaning the external surfaces of, and carrying out any works with regards to, the Curtain Wall of the Development. For the avoidance of doubt, the Manager shall not be responsible for (i) the cleaning, repair, maintenance or replacement of any openable window installed in or to any part of the Curtain Wall which forms part of a Residential Unit which shall be the relevant Owner’s responsibility. (f) The following provisions shall apply to the Owner(s) of the Commercial Accommodation :- (i) Notwithstanding anything herein contained and without prejudice or any limitation to the rights reserved to the First Owner under this Deed, the Owner of the Commercial Accommodation (or Owners in accordance with the provisions in the relevant Sub-Deed (if any) in respect of the Commercial Accommodation) shall have the right to affix, erect, maintain, alter, renew, service, repair, replace and remove signs, signboards (illuminated or otherwise), advertisements, lightings, banners, posters or placards or other things or structures or visual images of whatsoever kind, size and description on the exterior or interior of the external walls and Curtain Wall (if any) enclosing the Commercial Accommodation or any part thereof for the purpose of advertising or otherwise and to grant the right to do so to any person PROVIDED HOWEVER THAT any such things, structures or visual images shall not, in the opinion of the Manager, unreasonably interfere with the use and enjoyment by other Owners of the parts of the Development owned by them and/or adversely affect the external appearance of the Development, and the opinion of the Manager in this respect shall be final and conclusive; and (ii) The sole Owner of the Commercial Accommodation shall have the right to enter into a Sub-Deed in respect of the Commercial Accommodation (the “Commercial Sub-DMC”) for the purpose of (i) allocating Undivided Shares to the Unit(s) within the Commercial Accommodation as common areas and common services and facilities for the common use and benefit of the Owners, occupiers and invitees of the Commercial Accommodation and allocate Undivided Shares thereto and (iii) making further provisions for the management, maintenance and servicing of the Commercial Accommodation and its equipment, services and apparatus and for the purpose of further defining and regulating the rights, interests and obligations of the Owners thereof Provided that the provisions of the Commercial Sub- DMC shall not conflict with the provisions of this Deed and shall not adversely affect or prejudice the rights, interests or obligations of the other Owners of the Development (other than the Owners of the Commercial Accommodation) under this Deed or any other previous Sub-Deed(s). (iii) The Owner(s) of the Commercial Accommodation shall have the right to have free and uninterrupted passage and running of electricity and various other services (if any) from and to the Curtain Wall forming part of the Commercial Accommodation (if any) through the ducts, cables, pipes, wires and other conducting media which now are or may at any time hereafter be in, under or passing through the Lot and the Development (including the Common Areas and Facilities) or any part or parts thereof for the proper use and enjoyment of the Curtain Walls forming part of the Commercial Accommodation (if any). (iv) Each Owner of the Commercial Accommodation, his tenants, servants, agents, invitees and licensees shall have the right to go pass and xxxxxx over and along the relevant part or parts of Residential Common Areas and Facilities for the following purposes only:- (1) fire escape or in cases of emergency provided that the relevant Owner of the Commercial Accommodation shall make good any damage to the Residential Common Areas and Facilities caused thereby; and (2) for the purpose of gaining access to relevant part or parts of the Development Common Areas and Facilities for purposes connected with the proper use and enjoyment of his part of the Land and Development if and only if (A) there is no other practicable means to enter into such part or parts of the Development Common Areas and Facilities and (B) where access to such part or parts of the Residential Common Areas and Facilities for such is unavoidable, and PROVIDED THAT such access shall be subject to such restrictions (including, without limitation, those in relation to the time and routing of such access) as may be imposed by the Manager. (g) Upon execution of this Deed, the First Owner shall assign to the Manager free of costs or consideration the whole of the Undivided Shares allocated to the Common Areas and Facilities under this Deed subject to and with the benefit of the Government Lease and this Deed. Such Undivided Shares together with the right to hold, use, occupy and enjoy the Common Areas and Facilities shall be held by the Manager as trustee for the benefit of all the Owners for the time being and in the event the Manager shall resign or be dismissed or wound up or a receiving order made against it and another manager appointed in its stead in accordance with these presents, then the Manager or the liquidator or the receiver (as the case may be) shall assign free of costs or consideration such Undivided Shares to the new manager upon the same trust PROVIDED THAT if an Owners’ Corporation is formed under the Building Management Ordinance it may require the Manager for the time being or its liquidator or receiver (as the case may be) to assign such Undivided Shares and transfer the management responsibility to it free of costs or consideration and in which event the Manager shall assign free of costs the Undivided Shares in respect of the Common Areas and Facilities and transfer free of costs the management responsibility to the Owners’ Corporation which shall hold such Undivided Shares on trust for the benefit of all the Owners.

Rights and Obligations of Owners. 1. The First Owner shall at all times hereafter subject to and with the benefit of the Government Lease Grant and this Deed have the sole and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Assignee the whole of the Lot and the Development Estate together with the appurtenances thereto and the entire rents and profits thereof SAVE AND EXCEPT the First Assignee’s 's Unit assigned to the First Assignee as aforesaid and the Common Areas and Facilities and SUBJECT TO the rights and privileges granted to the First Assignee by the said Assignment referred to in paragraph (E) of the Recitals above and AND SUBJECT TO the provisions of this DeedDeed so far as they are still subsisting. 2. The First Assignee shall at all times hereafter subject to and with the benefit of the Government Lease Grant and these presents this Deed have the full and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Owner the First Assignee’s 's Unit assigned to the First Assignee by the said Assignment referred to in paragraph (E) of the Recitals above together with the appurtenances thereto and the entire rents and profits thereof. 3. Each Undivided Share and the full and exclusive right and privilege to hold, use, occupy and enjoy a Unit or any part of the Development Estate and to receive rents and profits therefrom shall be held by the person Owner or persons Owners from time to time entitled thereto subject to and with the benefit of the rights and privileges provided in the SECOND SCHEDULE hereto and the express covenants and provisions herein contained. 4. The Owner or Owners for the time being of each Undivided Share shall at all times hereafter be bound by and shall observe and perform the covenants, provisions and restrictions contained herein and in the THIRD SCHEDULE hereto and such Owner shall comply with the House Rules from time to time in force so far as the same are binding on relate to such OwnerUndivided Share held by him or them. 5. Subject to the Government LeaseGrant and this Deed, every Owner shall have the full right and liberty without reference to the other Owners or other persons who may be interested in any other Undivided Share or Shares in any way whatsoever and without the necessity of making such other Owners or other persons a party to the transaction to sell, assign, mortgage, charge, lease, license or otherwise dispose of or deal with his Undivided Shares together with the exclusive right and privilege to hold, use, occupy and enjoy such Unit or part or parts of the Development Estate which may be held therewith PROVIDED THAT any such sale, assignment, mortgage, charge, lease or licence shall be made expressly subject to and with the benefit of this Deed. 6. (a) The right to the exclusive use, occupation and enjoyment of any Unit or part of the Lot or and the Development Estate shall not be sold, assigned, mortgaged, charged, leased charged or otherwise dealt with separately from the Undivided Share with which the same is held PROVIDED ALWAYS THAT the provisions of this Clause shall, subject to the Government Grant, not extend to leases or tenancies or licences in respect of any Unit or part of the Lot and the Estate. (b) The right to the exclusive use, occupation and enjoyment of a flat roof or roof, if any, shall not restrict be sold, assigned, mortgaged, charged, leased or otherwise dealt with separately from the leasing Residential Unit with which the flat roof or licensing of any Unitroof is held. (a) Every Owner, his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Development Estate Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the same. (b) Every The Owner with the exclusive right and privilege to hold, use, occupy and enjoy of any Residential Unit together with his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Residential Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the same. (c) Every Owner shall at his own cost and expense be responsible for:- (i) In each of the cleaning, repair, maintenance and replacement of all the windows of his Unit (including, in respect of any Residential Unit and for the avoidance of doubtabove cases, the openable window installed in or to any part of the Curtain Wall enclosing his Unit). In respect of the repair, maintenance right and replacement of the openable windows install in or to any part of the Curtain Wall enclosing a Residential Unit, the Owner shall only engage contractors nominated and approved by the Manager to carry out such works. In respect of the replacement of the openable windows install in or to any part of the Curtain Wall enclosing his Unit, the Owner shall in addition use such materials as approved by the Manager; and (ii) cleaning of the internal surfaces of the Curtain Wall (including the openable windows and non-openable windows installed therein or thereto) enclosing his Unit. (d) In respect of the cleaning, repair, maintenance and replacement of the Curtain Wall enclosing the Commercial Accommodation, the Owner(s) of the Commercial Accommodation shall only engage contractors nominated and approved by the Manager to carry out such works. In respect of the replacement of any part of the Curtain Wall enclosing Commercial Accommodation, the Owner(s) of the Commercial Accommodation shall in addition use such materials as approved by the Manager. (e) The Owners of Units shall not object, and shall render full cooperation, to the Manager for the purpose of cleaning the external surfaces of, and carrying out any works with regards to, the Curtain Wall of the Development. For the avoidance of doubt, the Manager shall not be responsible for (i) the cleaning, repair, maintenance or replacement of any openable window installed in or to any part of the Curtain Wall which forms part of a Residential Unit which shall be the relevant Owner’s responsibility. (f) The following provisions shall apply to the Owner(s) of the Commercial Accommodation :- (i) Notwithstanding anything herein contained and without prejudice or any limitation to the rights reserved to the First Owner under this Deed, the Owner of the Commercial Accommodation (or Owners in accordance with the provisions in the relevant Sub-Deed (if any) in respect of the Commercial Accommodation) shall have the right to affix, erect, maintain, alter, renew, service, repair, replace and remove signs, signboards (illuminated or otherwise), advertisements, lightings, banners, posters or placards or other things or structures or visual images of whatsoever kind, size and description on the exterior or interior of the external walls and Curtain Wall (if any) enclosing the Commercial Accommodation or any part thereof for the purpose of advertising or otherwise and to grant the right to do so to any person PROVIDED HOWEVER THAT any such things, structures or visual images shall not, in the opinion of the Manager, unreasonably interfere with the use and enjoyment by other Owners of the parts of the Development owned by them and/or adversely affect the external appearance of the Development, and the opinion of the Manager in this respect shall be final and conclusive; and (ii) The sole Owner of the Commercial Accommodation shall have the right to enter into a Sub-Deed in respect of the Commercial Accommodation (the “Commercial Sub-DMC”) for the purpose of (i) allocating Undivided Shares to the Unit(s) within the Commercial Accommodation as common areas and common services and facilities for the common use and benefit of the Owners, occupiers and invitees of the Commercial Accommodation and allocate Undivided Shares thereto and (iii) making further provisions for the management, maintenance and servicing of the Commercial Accommodation and its equipment, services and apparatus and for the purpose of further defining and regulating the rights, interests and obligations of the Owners thereof Provided that the provisions of the Commercial Sub- DMC shall not conflict with the provisions of this Deed and shall not adversely affect or prejudice the rights, interests or obligations of the other Owners of the Development (other than the Owners of the Commercial Accommodation) under this Deed or any other previous Sub-Deed(s). (iii) The Owner(s) of the Commercial Accommodation shall have the right to have free and uninterrupted passage and running of electricity and various other services (if any) from and to the Curtain Wall forming part of the Commercial Accommodation (if any) through the ducts, cables, pipes, wires and other conducting media which now are or may at any time hereafter be in, under or passing through the Lot and the Development (including the Common Areas and Facilities) or any part or parts thereof for the proper use and enjoyment of the Curtain Walls forming part of the Commercial Accommodation (if any). (iv) Each Owner of the Commercial Accommodation, his tenants, servants, agents, invitees and licensees shall have the right to go pass and xxxxxx over and along the relevant part or parts of Residential Common Areas and Facilities for the following purposes only:- (1) fire escape or in cases of emergency provided that the relevant Owner of the Commercial Accommodation shall make good any damage to the Residential Common Areas and Facilities caused thereby; and (2) for the purpose of gaining access to relevant part or parts of the Development Common Areas and Facilities for purposes connected with the proper use and enjoyment of his part of the Land and Development if and only if (A) there is no other practicable means to enter into such part or parts of the Development Common Areas and Facilities and (B) where access to such part or parts of the Residential Common Areas and Facilities for such is unavoidable, and PROVIDED THAT such access liberty shall be subject to such restrictions (including, without limitation, those in relation to the time and routing of such access) as may be imposed by the Manager. (g) Upon execution provisions of this Deed, the First Owner shall assign to rights of the Manager free of costs or consideration and the whole of the Undivided Shares allocated to the Common Areas and Facilities under this Deed subject to and with the benefit of the Government Lease and this Deed. Such Undivided Shares together with the right to hold, use, occupy and enjoy the Common Areas and Facilities shall be held by the Manager as trustee for the benefit of all the Owners for the time being and in the event the Manager shall resign or be dismissed or wound up or a receiving order made against it and another manager appointed in its stead in accordance with these presents, then the Manager or the liquidator or the receiver (as the case may be) shall assign free of costs or consideration such Undivided Shares to the new manager upon the same trust PROVIDED THAT if an Owners’ Corporation is formed under the Building Management Ordinance it may require the Manager for the time being or its liquidator or receiver (as the case may be) to assign such Undivided Shares and transfer the management responsibility to it free of costs or consideration and in which event the Manager shall assign free of costs the Undivided Shares in respect of the Common Areas and Facilities and transfer free of costs the management responsibility to the Owners’ Corporation which shall hold such Undivided Shares on trust for the benefit of all the OwnersEstate Rules relating thereto.

Rights and Obligations of Owners. 1. The First Owner shall at all times hereafter hereafter, subject to and with the benefit of the Government Lease Conditions and this Deed, have the sole and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Assignee the whole of the Lot and the Development Estate together with the appurtenances thereto and the entire rents and profits thereof SAVE AND EXCEPT the First Assignee’s Unit said premises assigned to the First Assignee as aforesaid and the Common Areas and Facilities and SUBJECT TO the rights and privileges granted to the First Assignee by the aforesaid Assignment referred to in paragraph (E) of the Recitals above and SUBJECT TO the provisions of this Deed. 2. The First Assignee shall at all times hereafter hereafter, subject to and with the benefit of the Government Lease Conditions and these presents this Deed have the full sole and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Owner the First Assignee’s Unit said premises assigned to the First Assignee by the said Assignment referred to in paragraph (E) of the Recitals above together with the appurtenances thereto and the entire rents and profits thereof. 3. Each Undivided Share and the full and exclusive right and privilege to hold, use, occupy and enjoy any part of the Development Estate shall be held by the person or persons from time to time entitled thereto subject to and with the benefit of the rights and privileges provided in the SECOND SCHEDULE Second Schedule hereto and the express covenants and provisions herein containedcontained and contained in the Conditions. 4. The Owner or Owners for the time being of each Undivided Share shall at all times hereafter be bound by and shall observe and perform the covenants, provisions and restrictions contained herein and in the THIRD SCHEDULE Third Schedule hereto and such Owner shall comply with contained in the House Rules from time to time in force so far as the same are binding on such OwnerConditions. 5. Subject to the Government LeaseConditions and this Deed, every Owner shall have the full right and liberty without reference to the other Owners or other persons who may be interested in any other Undivided Share or Undivided Shares in any way whatsoever and without the necessity of making such other Owners or other persons a party to the transaction to sell, assign, mortgage, lease, license or otherwise dispose of or deal with his Undivided Shares together with the exclusive right and privilege to hold, use, occupy and enjoy such part or parts of the Development Estate which may be held therewith PROVIDED THAT any such sale, assignment, mortgage, lease or licence shall be made expressly subject to and with the benefit of this DeedDeed and PROVIDED FURTHER THAT every such assignment, mortgage, lease or underletting for a term of more than three years or other alienation of the Lot or any part thereof or any interest therein shall be registered at the Land Registry. 6. (a) The right to the exclusive use, occupation and enjoyment of any part of the Lot or the Development Estate shall not be sold, assigned, mortgaged, charged, leased or otherwise dealt with separately from the Undivided Share Shares with which the same is held PROVIDED ALWAYS THAT the provisions of this Clause shall not restrict extend to leases or tenancies the leasing terms of which shall not exceed ten (10) years in aggregate including any right of renewal. (b) The right to the exclusive use occupation and enjoyment of (as the case may be) a garden, flat roofs, a green roof, an upper roof, a stairhood, a swimming pool and a jacuzzi shall not be sold assigned mortgaged charged leased or licensing otherwise dealt with separately from the Residential Unit with which the garden, the flat roofs, the green roof, the upper roof, the stairhood, the swimming pool and the jacuzzi is/are held. (c) Each Unit shall not be partitioned and sold assigned mortgaged charged leased or otherwise dealt with separately from other parts or portions of any that Unit. (a) Every Owner, his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Development Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the same. (b) Every Owner with the exclusive right and privilege to hold, use, occupy and enjoy any Residential Unit together with his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Residential Common Areas and Facilities and the Estate Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the same. (b) Every Owner with the exclusive right and privilege to hold, use, occupy and enjoy any Flat together with his tenants, servants, agents, invitees and licensees shall in addition to the right and liberty referred to in sub-clause (a) of this Clause have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Tower Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the same. (c) Every Owner shall at his own cost and expense be responsible for:- (i) the cleaning, repair, maintenance and replacement of all the windows of his Unit (including, in respect of any Residential Unit and for the avoidance of doubt, the openable window installed in or to any part of the Curtain Wall enclosing his Unit). In respect of the repair, maintenance and replacement of the openable windows install in or to any part of the Curtain Wall enclosing a Residential Unit, the Owner shall only engage contractors nominated and approved by the Manager to carry out such works. In respect of the replacement of the openable windows install in or to any part of the Curtain Wall enclosing his Unit, the Owner shall in addition use such materials as approved by the Manager; and (ii) cleaning of the internal surfaces of the Curtain Wall (including the openable windows and non-openable windows installed therein or thereto) enclosing his Unit. (d) In respect of the cleaning, repair, maintenance and replacement of the Curtain Wall enclosing the Commercial Accommodation, the Owner(s) of the Commercial Accommodation shall only engage contractors nominated and approved by the Manager to carry out such works. In respect of the replacement of any part of the Curtain Wall enclosing Commercial Accommodation, the Owner(s) of the Commercial Accommodation shall in addition use such materials as approved by the Manager. (e) The Owners of Units shall not object, and shall render full cooperation, to the Manager for the purpose of cleaning the external surfaces of, and carrying out any works with regards to, the Curtain Wall of the Development. For the avoidance of doubt, the Manager shall not be responsible for (i) the cleaning, repair, maintenance or replacement of any openable window installed in or to any part of the Curtain Wall which forms part of a Residential Unit which shall be the relevant Owner’s responsibility. (f) The following provisions shall apply to the Owner(s) of the Commercial Accommodation :- (i) Notwithstanding anything herein contained and without prejudice or any limitation to the rights reserved to the First Owner under this Deed, the Owner of the Commercial Accommodation (or Owners in accordance with the provisions in the relevant Sub-Deed (if any) in respect of the Commercial Accommodation) shall have the exclusive right and privilege to affixhold, erectuse, maintain, alter, renew, service, repair, replace occupy and remove signs, signboards (illuminated or otherwise), advertisements, lightings, banners, posters or placards or other things or structures or visual images of whatsoever kind, size and description on the exterior or interior of the external walls and Curtain Wall (if any) enclosing the Commercial Accommodation or enjoy any part thereof for the purpose of advertising or otherwise and to grant the right to do so to any person PROVIDED HOWEVER THAT any such things, structures or visual images shall not, in the opinion of the Manager, unreasonably interfere Parking Space together with the use and enjoyment by other Owners of the parts of the Development owned by them and/or adversely affect the external appearance of the Development, and the opinion of the Manager in this respect shall be final and conclusive; and (ii) The sole Owner of the Commercial Accommodation shall have the right to enter into a Sub-Deed in respect of the Commercial Accommodation (the “Commercial Sub-DMC”) for the purpose of (i) allocating Undivided Shares to the Unit(s) within the Commercial Accommodation as common areas and common services and facilities for the common use and benefit of the Owners, occupiers and invitees of the Commercial Accommodation and allocate Undivided Shares thereto and (iii) making further provisions for the management, maintenance and servicing of the Commercial Accommodation and its equipment, services and apparatus and for the purpose of further defining and regulating the rights, interests and obligations of the Owners thereof Provided that the provisions of the Commercial Sub- DMC shall not conflict with the provisions of this Deed and shall not adversely affect or prejudice the rights, interests or obligations of the other Owners of the Development (other than the Owners of the Commercial Accommodation) under this Deed or any other previous Sub-Deed(s). (iii) The Owner(s) of the Commercial Accommodation shall have the right to have free and uninterrupted passage and running of electricity and various other services (if any) from and to the Curtain Wall forming part of the Commercial Accommodation (if any) through the ducts, cables, pipes, wires and other conducting media which now are or may at any time hereafter be in, under or passing through the Lot and the Development (including the Common Areas and Facilities) or any part or parts thereof for the proper use and enjoyment of the Curtain Walls forming part of the Commercial Accommodation (if any). (iv) Each Owner of the Commercial Accommodation, his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the relevant part or parts of Residential Carpark Common Areas and Facilities and the Estate Common Areas and Facilities for the following purposes only:- (1) fire escape or in cases of emergency provided that the relevant Owner of the Commercial Accommodation shall make good any damage to the Residential Common Areas and Facilities caused thereby; and (2) for the purpose of gaining access to relevant part or parts of the Development Common Areas and Facilities for all purposes connected with the proper use and enjoyment of his part of the Land same. (d) The right and Development if liberty to use the Residential Common Areas and only if (A) there is no other practicable means to enter into such part or parts of Facilities, the Development Estate Common Areas and Facilities, the Tower Common Areas and Facilities and (B) where access to such part or parts of the Residential Carpark Common Areas and Facilities for such is unavoidableas referred to in sub-clauses (a), (b) and PROVIDED THAT such access (c) of this Clause shall be subject to such restrictions (includingthe provisions of this Deed, without limitation, those in relation to the time rights of the Manager and routing of such access) as may be imposed by the ManagerRules relating thereto. (ge) Upon execution of this Deed, the First Owner shall assign the whole of the Common Areas and Facilities together with the number of the Undivided Shares relating thereto to the Manager free of costs cost or consideration who must hold the Common Areas and Facilities and the whole of the Undivided Shares allocated to the Common Areas and Facilities under this Deed subject to and with the benefit of the Government Lease and this Deed. Such Undivided Shares together with the right to hold, use, occupy and enjoy the Common Areas and Facilities shall be held by the Manager relating thereto as trustee for the benefit of all the Owners for the time being and in the event the Manager shall resign or be dismissed or wound up or a receiving order made against it and another manager appointed in its stead in accordance with these presents, then the Manager or the liquidator or the receiver (as the case may be) shall assign free of costs or consideration such Undivided Shares subject to the new manager upon the same trust PROVIDED THAT if an Owners’ Corporation is formed under the Building Management Ordinance it may require the Manager for the time being or its liquidator or receiver (as the case may be) Conditions and subject to assign such Undivided Shares and transfer the management responsibility to it free of costs or consideration and in which event the Manager shall assign free of costs the Undivided Shares in respect of the Common Areas and Facilities and transfer free of costs the management responsibility to the Owners’ Corporation which shall hold such Undivided Shares on trust for with the benefit of all the Ownersthis Deed but otherwise free from encumbrances.

Rights and Obligations of Owners. 1. The First Owner shall at all times hereafter subject to and with the benefit of the Government Lease have the sole and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Assignee the whole of the Lot and the Development together with the appurtenances thereto and the entire rents and profits thereof SAVE AND EXCEPT the First Assignee’s Unit assigned to the First Assignee as aforesaid and SUBJECT TO the rights and privileges granted to the First Assignee by the Assignment referred to in paragraph (E) of the Recitals above and SUBJECT TO the provisions of this Deed. 2. The First Assignee shall at all times hereafter subject to and with the benefit of the Government Lease and these presents have the full and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Owner the First Assignee’s Unit assigned to the First Assignee by the Assignment referred to in paragraph (E) of the Recitals above together with the appurtenances thereto and the entire rents and profits thereof. 3. Each Undivided Share and the full and exclusive right and privilege to hold, use, occupy and enjoy any part of the Development shall be held by the person or persons from time to time entitled thereto subject to and with the benefit of the rights and privileges provided in the SECOND SCHEDULE hereto and the express covenants and provisions herein contained. 4. The Owner or Owners for the time being of each Undivided Share shall at all times hereafter be bound by and shall observe and perform the covenants, provisions and restrictions contained herein and in the THIRD SCHEDULE hereto and such Owner shall comply with the House Rules from time to time in force so far as the same are binding on such Owner. 5. Subject to the Government Lease, every Owner shall have the full right and liberty without reference to the other Owners or other persons who may be interested in any other Undivided Share or Shares in any way whatsoever and without the necessity of making such other Owners or other persons a party to the transaction to sell, assign, mortgage, lease, license or otherwise dispose of or deal with his Undivided Shares together with the exclusive right and privilege to hold, use, occupy and enjoy such part or parts of the Development which may be held therewith PROVIDED THAT any such sale, assignment, mortgage, lease or licence shall be made expressly subject to and with the benefit of this Deed. 6. The right to the exclusive use, occupation and enjoyment of any part of the Lot or the Development shall not be sold, assigned, mortgaged, charged, leased or otherwise dealt with separately from the Undivided Share with which the same is held PROVIDED ALWAYS THAT the provisions of this Clause shall not restrict the leasing or licensing of any Unit. (a) Every Owner, his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Development Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the same. (b) Every Owner with the exclusive right and privilege to hold, use, occupy and enjoy any Residential Unit together with his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Residential Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the same. (c) Every Owner shall at his own cost and expense be responsible for:- (i) for the cleaning, repair, repair and maintenance and replacement of all the windows of his Unit (including, in respect of any Residential Unit and for the avoidance of doubt, the openable window installed in or to any part of the Curtain Wall enclosing his Unitif there is any). In respect of the repair, maintenance and replacement of the openable windows install in or to any part of the Curtain Wall enclosing a Residential Unit, the Owner shall only engage contractors nominated and approved by the Manager to carry out such works. In respect of the replacement of the openable windows install in or to any part of the Curtain Wall enclosing his Unit, the Owner shall in addition use such materials as approved by the Manager; and (ii) cleaning of the internal surfaces of the Curtain Wall (including the openable windows and non-openable windows installed therein or thereto) enclosing his Unit. (d) In respect of the cleaning, repair, maintenance and replacement of the Curtain Wall enclosing the Commercial Accommodation, the Owner(s) of the Commercial Accommodation shall only engage contractors nominated and approved by the Manager to carry out such works. In respect of the replacement of any part of the Curtain Wall enclosing Commercial Accommodation, the Owner(s) of the Commercial Accommodation shall in addition use such materials as approved by the Manager. (e) The Owners of Units shall not object, and shall render full cooperation, to the Manager for the purpose of cleaning the external surfaces of, and carrying out any works with regards to, the Curtain Wall of the Development. For the avoidance of doubt, the Manager shall not be responsible for (i) the cleaning, repair, maintenance or replacement of any openable window installed in or to any part of the Curtain Wall which forms part of a Residential Unit which shall be the relevant Owner’s responsibility. (f) The following provisions shall apply to the Owner(s) Owner of the Commercial Accommodation :- (i) Notwithstanding anything herein contained and without prejudice or any limitation to the rights reserved to the First Owner under this Deed, the an Owner of the Commercial Accommodation (or Owners in accordance with the provisions in the relevant Sub-Deed (if any) in respect of the Commercial Accommodation) shall have the right to affix, erect, maintain, alter, renew, service, repair, replace and remove signs, signboards (illuminated or otherwise), advertisements, lightings, banners, posters or placards or other things or structures or visual images of whatsoever kind, size and description on the exterior or interior of the external walls and Curtain Wall curtain walls (if any) enclosing forming part of the Commercial Accommodation or any part thereof for the purpose of advertising or otherwise and to grant the right to do so to any person PROVIDED HOWEVER THAT any such things, things or structures or visual images shall not, in the opinion of the Manager, unreasonably interfere with the use and enjoyment by other Owners of the parts of the Development owned by them and/or adversely affect the external appearance of the Development, and the opinion of the Manager in this respect shall be final and conclusive; and. (ii) The sole Owner of the Commercial Accommodation shall have the right to enter into a Sub-Deed in respect of the Commercial Accommodation (the “Commercial Sub-DMC”) for the purpose of (i) allocating Undivided Shares to the Unit(s) within the Commercial Accommodation as common areas and common services and facilities for the common use and benefit of the Owners, occupiers and invitees of the Commercial Accommodation and allocate Undivided Shares thereto and (iii) making further provisions for the management, maintenance and servicing of the Commercial Accommodation and its equipment, services and apparatus and for the purpose of further defining and regulating the rights, interests and obligations of the Owners thereof Provided that the provisions of the Commercial Sub- DMC shall not conflict with the provisions of this Deed and shall not adversely affect or prejudice the rights, interests or obligations of the other Owners of the Development (other than the Owners of the Commercial Accommodation) under this Deed or any other previous Sub-Deed(s). (iii) The Owner(s) of the Commercial Accommodation shall have the right to have free and uninterrupted passage and running of electricity and various other services (if any) from and to the Curtain Wall curtain walls forming part of the Commercial Accommodation (if any) through the ducts, cables, pipes, wires and other conducting media which now are or may at any time hereafter be in, under or passing through the Lot and the Development (including the Common Areas and Facilities) or any part or parts thereof for the proper use and enjoyment of the Curtain Walls curtain walls forming part of the Commercial Accommodation (if any). (iviii) Each Owner of the Commercial Accommodation, his tenants, servants, agents, invitees and licensees shall have the right to go pass and xxxxxx over and along the relevant part or parts of Residential Common Areas and Facilities for the following purposes only:- (1) fire escape or in cases of emergency provided that the relevant The Owner of the Commercial Accommodation shall make good any damage permit the Manager and its authorized person(s) to the Residential Common Areas and Facilities caused thereby; and:- (2I) go pass or xxxxxx over and along and to use or open up the Ground Floor Open Area (forming part of the Commercial Accommodation) for the purpose of gaining access and/or for carrying out any repair and maintenance works to the Development (including the relevant part or parts of the Development Common Areas and Facilities for purposes connected with the proper use and enjoyment of his part on Ground Floor of the Land Development); (II) without prejudice to the generality of sub-clause (I) above, upon request by The Hongkong Electric Company Limited to lift up and Development if and only if (A) there is no other practicable means to enter into such part or parts put down of the Development Common Areas and Facilities and (B) where access to such part or parts matching covers on top of the Residential Common Areas cable draw pits and Facilities performed cable trench for such is unavoidable, and maintenance or operation works for the service cable located underneath the Ground Floor Open Area; PROVIDED THAT in exercising such access rights the Manager shall be subject to such restrictions (including, without limitation, those in relation cause as little disturbance as reasonably practicable and shall make good any damage caused thereby as soon as practicable including but not limited to the time damage caused to the Ground Floor Open Area and routing the matching covers on top of such access) as may be imposed by the Managercable draw pits and performed cable trench underneath the Ground Floor Open Area. (ge) Upon execution of this Deed, the First Owner shall assign to the Manager free of costs or consideration the whole of the Undivided Shares allocated to the Common Areas and Facilities under this Deed subject to and with the benefit of the Government Lease and this Deed. Such Undivided Shares together with the right to hold, use, occupy and enjoy the Common Areas and Facilities shall be held by the Manager as trustee for the benefit of all the Owners for the time being and in the event the Manager shall resign or be dismissed or wound up or a receiving order made against it and another manager appointed in its stead in accordance with these presents, then the Manager or the liquidator or the receiver (as the case may be) shall assign free of costs or consideration such Undivided Shares to the new manager upon the same trust PROVIDED THAT if an Owners’ Corporation is formed under the Building Management Ordinance it may require the Manager for the time being or its liquidator or receiver (as the case may be) to assign such Undivided Shares and transfer the management responsibility to it free of costs or consideration and in which event the Manager shall assign free of costs the Undivided Shares in respect of the Common Areas and Facilities and transfer free of costs the management responsibility to the Owners’ Corporation which shall hold such Undivided Shares on trust for the benefit of all the Owners.

Rights and Obligations of Owners. 1. 2.1 The First Owner shall at all times hereafter hereafter, subject to and with the benefit of the Government Lease Grant, have the sole and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Assignee the whole of the Lot Land and the Development together with the appurtenances thereto and the entire rents and profits thereof SAVE AND EXCEPT the First Assignee’s 's Unit assigned to the First Assignee as aforesaid and the Common Areas and Facilities and SUBJECT TO the rights and privileges granted to the First Assignee by the aforesaid Assignment referred to in paragraph (E) of the Recitals above and SUBJECT TO the provisions of this Deed. 2. 2.2 The First Assignee shall at all times hereafter subject to and with the benefit of the Government Lease Grant and these presents have the full and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Owner the First Assignee’s 's Unit assigned to the First Assignee by the said Assignment referred to in paragraph (E) of the Recitals above together with the appurtenances thereto and the entire rents and profits thereof. 3. 2.3 Each Undivided Share and the full and exclusive right and privilege to hold, use, occupy and enjoy any part of the Development shall be held by the person or persons from time to time entitled thereto subject to and with the benefit of the rights and privileges provided in the SECOND SCHEDULE hereto and the express covenants and provisions herein containedhereto. 4. 2.4 The Owner or Owners for the time being of each Undivided Share shall at all times hereafter be bound by and shall observe and perform the covenants, provisions and restrictions contained herein and in the THIRD SCHEDULE hereto and such Owner shall comply with the House Development Rules from time to time in force in so far as the same are binding on such Owner. 5. 2.5 Subject to the Government LeaseGrant, every Owner shall have the full right and liberty without reference to the other Owners or other persons who may be interested in any other Undivided Share or Shares Share(s) in any way whatsoever and without the necessity of making such other Owners or other persons a party to the transaction to sell, assign, mortgage, lease, license or otherwise dispose of or deal with his Undivided Shares Share(s) or interest of and in the Land and the Development together with the exclusive right and privilege to hold, use, occupy and enjoy such part or parts of the Development which may be held therewith therewith. PROVIDED THAT THAT:- (a) any such sale, assignment, mortgage, lease or licence shall be made expressly subject to and with the benefit of this Deed; and (b) the Residential Motor Cycle Parking Space shall not be:- (i) assigned except (I) together with Undivided Shares giving the right of exclusive use and possession of a Residential House; or (II) to a person who is already the Owner of Undivided Shares in the Land and the Development with the right of exclusive use and possession of a Residential House; or (ii) underlet except to residents of a Residential House; (c) the two Residential Car Parking Spaces forming part of a Residential House shall not be assigned, mortgaged, leased or licensed separately from such Residential House; AND in any event not more than three (3) in number of the total of the Residential Car Parking Spaces and the Residential Motor Cycle Parking Space shall be assigned to the Owner or underlet to the resident of any one Residential House. 6. (a) The right to the exclusive use, occupation and enjoyment of any part of the Lot Land or the Development shall not be sold, assigned, mortgaged, charged, leased or otherwise dealt with separately from the Undivided Share with which the same is held PROVIDED ALWAYS THAT the provisions of this Clause Clause, subject to the Government Grant, shall not restrict extend to leases or tenancies or licences the leasing terms of which shall not exceed ten (10) years. (b) The right to the exclusive use, occupation and enjoyment of the carport within a Residential House (including the Residential Car Parking Spaces) and any balcony(ies), acoustic balcony (if any), flat roof(s), roof(s), staircase(s), utility platform(s), air-conditioning plant area(s), private garden(s), lift(s), swimming pool(s), external walls or licensing of any Unitfence walls appertaining to a Residential House shall not be sold, assigned, mortgaged, charged, leased or otherwise dealt with separately from a Residential House with which the carport within a Residential House (including the Residential Car Parking Spaces), such balcony(ies), acoustic balcony (if any), flat roof(s), roof(s), staircase(s), utility platform(s), air-conditioning plant area(s), private garden(s), lift(s), swimming pool(s), external walls or fence walls is held. (a) Every Owner, his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Development Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the samehis Unit. (b) Every Owner with In each of the exclusive right and privilege to holdabove cases, use, occupy and enjoy any Residential Unit together with his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Residential Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the same. (c) Every Owner shall at his own cost and expense be responsible for:- (i) the cleaning, repair, maintenance and replacement of all the windows of his Unit (including, in respect of any Residential Unit and for the avoidance of doubt, the openable window installed in or to any part of the Curtain Wall enclosing his Unit). In respect of the repair, maintenance and replacement of the openable windows install in or to any part of the Curtain Wall enclosing a Residential Unit, the Owner shall only engage contractors nominated and approved by the Manager to carry out such works. In respect of the replacement of the openable windows install in or to any part of the Curtain Wall enclosing his Unit, the Owner shall in addition use such materials as approved by the Manager; and (ii) cleaning of the internal surfaces of the Curtain Wall (including the openable windows and non-openable windows installed therein or thereto) enclosing his Unit. (d) In respect of the cleaning, repair, maintenance and replacement of the Curtain Wall enclosing the Commercial Accommodation, the Owner(s) of the Commercial Accommodation shall only engage contractors nominated and approved by the Manager to carry out such works. In respect of the replacement of any part of the Curtain Wall enclosing Commercial Accommodation, the Owner(s) of the Commercial Accommodation shall in addition use such materials as approved by the Manager. (e) The Owners of Units shall not object, and shall render full cooperation, subject to the Manager for the purpose provisions of cleaning the external surfaces of, and carrying out any works with regards to, the Curtain Wall of the Development. For the avoidance of doubt, the Manager shall not be responsible for (i) the cleaning, repair, maintenance or replacement of any openable window installed in or to any part of the Curtain Wall which forms part of a Residential Unit which shall be the relevant Owner’s responsibility. (f) The following provisions shall apply to the Owner(s) of the Commercial Accommodation :- (i) Notwithstanding anything herein contained and without prejudice or any limitation to the rights reserved to the First Owner under this Deed, the Owner of the Commercial Accommodation (or Owners in accordance with the provisions in the relevant Sub-Deed (if any) in respect of the Commercial Accommodation) shall have the right to affix, erect, maintain, alter, renew, service, repair, replace and remove signs, signboards (illuminated or otherwise), advertisements, lightings, banners, posters or placards or other things or structures or visual images of whatsoever kind, size and description on the exterior or interior of the external walls and Curtain Wall (if any) enclosing the Commercial Accommodation or any part thereof for the purpose of advertising or otherwise and to grant the right to do so to any person PROVIDED HOWEVER THAT any such things, structures or visual images shall not, in the opinion of the Manager, unreasonably interfere with the use and enjoyment by other Owners of the parts of the Development owned by them and/or adversely affect the external appearance of the Development, and the opinion rights of the Manager in this respect shall be final and conclusive; and (ii) The sole Owner of the Commercial Accommodation shall have the right to enter into a Sub-Deed in respect of the Commercial Accommodation (the “Commercial Sub-DMC”) for the purpose of (i) allocating Undivided Shares to the Unit(s) within the Commercial Accommodation as common areas and common services and facilities for the common use and benefit of the Owners, occupiers and invitees of the Commercial Accommodation and allocate Undivided Shares thereto and (iii) making further provisions for the management, maintenance and servicing of the Commercial Accommodation and its equipment, services and apparatus and for the purpose of further defining and regulating the rights, interests and obligations of the Owners thereof Provided that the provisions of the Commercial Sub- DMC shall not conflict with the provisions of this Deed and shall not adversely affect or prejudice the rights, interests or obligations of the other Owners of the Development (other than the Owners of the Commercial Accommodation) under this Deed or any other previous Sub-Deed(s). (iii) The Owner(s) of the Commercial Accommodation shall have the right to have free and uninterrupted passage and running of electricity and various other services (if any) from and to the Curtain Wall forming part of the Commercial Accommodation (if any) through the ducts, cables, pipes, wires and other conducting media which now are or may at any time hereafter be in, under or passing through the Lot and the Development (including the Common Areas and Facilities) or any part or parts thereof for the proper use and enjoyment of the Curtain Walls forming part of the Commercial Accommodation (if any)Rules. (iv) Each Owner of the Commercial Accommodation, his tenants, servants, agents, invitees and licensees shall have the right to go pass and xxxxxx over and along the relevant part or parts of Residential Common Areas and Facilities for the following purposes only:- (1) fire escape or in cases of emergency provided that the relevant Owner of the Commercial Accommodation shall make good any damage to the Residential Common Areas and Facilities caused thereby; and (2) for the purpose of gaining access to relevant part or parts of the Development Common Areas and Facilities for purposes connected with the proper use and enjoyment of his part of the Land and Development if and only if (A) there is no other practicable means to enter into such part or parts of the Development Common Areas and Facilities and (B) where access to such part or parts of the Residential Common Areas and Facilities for such is unavoidable, and PROVIDED THAT such access shall be subject to such restrictions (including, without limitation, those in relation to the time and routing of such access) as may be imposed by the Manager. (g) 2.8 Upon execution of this Deed, the First Owner shall assign to the Manager as trustee for all Owners free of costs or consideration the whole of the Undivided Shares allocated to the Common Areas and Facilities under this Deed together with the Common Areas and Facilities subject to and with the benefit of the Government Lease Grant and this Deed. Such Undivided Shares together with the right to hold, use, occupy and enjoy the Common Areas and Facilities shall be held by the Manager as trustee for the benefit of all the Owners for the time being and in In the event the Manager shall resign or be dismissed or on termination of his appointment or be wound up or a receiving order be made against it and another manager appointed in its stead in accordance with these presentsthe provisions of this Deed, then the outgoing Manager or the liquidator or the receiver (as the case may be) shall assign free of costs or consideration such Undivided Shares to the new manager upon the same trust PROVIDED THAT if an Owners’ ' Corporation is formed under the Building Management Ordinance it may require the Manager for the time being or its liquidator or receiver (as the case may be) to assign such Undivided Shares and transfer the management responsibility to it free of costs or consideration and in which event the Manager shall assign free of costs the Undivided Shares in respect of allocated to the Common Areas and Facilities and transfer free of costs the management responsibility to the Owners’ ' Corporation which shall hold such Undivided Shares on trust for the benefit of all the Owners.

Rights and Obligations of Owners. 1. The First Owner shall at all times hereafter subject to and with the benefit of the Government Lease Conditions so far as they are still subsisting and this Deed have the sole and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Assignee the whole of the Lot and the Development together with the appurtenances thereto and the entire rents and profits thereof SAVE AND EXCEPT the First Assignee’s Unit Premises assigned to the First Assignee as aforesaid and the Common Areas and Facilities and SUBJECT TO the rights and privileges granted to the First Assignee by the aforesaid Assignment referred to in paragraph (E) of the Recitals above and SUBJECT TO the provisions of this Deed. 2. The First Assignee shall at all times hereafter subject to and with the benefit of the Government Lease Conditions and these presents this Deed have the full and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Owner the First Assignee’s Unit Premises assigned to the First Assignee by the said Assignment referred to in paragraph (E) of the Recitals above together with the appurtenances thereto and the entire rents and profits thereofthereof SUBJECT TO the provisions of this Deed. 3. Each Undivided Share and the full sole and exclusive right and privilege to hold, use, occupy and enjoy any part of the Development shall be held by the person or persons Owner from time to time entitled thereto of such Undivided Share subject to and with the benefit of the rights easements, rights, privileges and privileges obligations provided in the SECOND SCHEDULE hereto and the express covenants and provisions herein containedcontained in this Deed. 4. The Owner or Owners for the time being of each Undivided Share shall at all times hereafter be bound by and shall observe and perform the covenants, provisions and restrictions contained herein and in the THIRD SCHEDULE hereto so far as the same relate to such Undivided Share held by him or them and shall hold each Undivided Share subject to the easements, rights and privileges set out in the FOURTH SCHEDULE hereto and such Owner shall comply with the House Rules from time to time in force so far as the same are binding on such Owner. 5. Subject to the Government Lease, every Every Owner shall have the full right and liberty without reference to the any other Owners Owner or other persons any person who may be interested in any other Undivided Share or Shares Share(s) in any way whatsoever and without the necessity of making such other Owners Owner or other persons such person a party to the transaction to sell, assign, mortgage, charge, lease, license or otherwise dispose of or deal with his Undivided Shares Share(s) or interest of and in the Lot and the Development together with the sole and exclusive right and privilege to hold, use, occupy and enjoy such part or parts part(s) of the Development which may be held therewith PROVIDED THAT any such sale, assignment, mortgage, lease or licence transaction shall be made expressly subject to and with the benefit of this DeedDeed and PROVIDED FURTHER THAT every such assignment, mortgage, charge, lease or underletting for a term of more than three years or other disposal shall be registered at the Land Registry. 6. (a) The sole and exclusive right and privilege to the exclusive hold, use, occupation occupy and enjoyment of enjoy any part of the Lot or the Development shall not be sold, assigned, mortgaged, charged, leased or otherwise dealt with separately from the Undivided Share Share(s) with which the same is held PROVIDED ALWAYS THAT that the provisions of this Clause shall Clause, subject to the Conditions, do not restrict the leasing extend to any lease, tenancy or licensing of any Unitlicence with a term not exceeding ten (10) years. (ab) The right to the exclusive use, occupation, and enjoyment of a carport, garden(s), flat roofs, and upper roof shall not be sold, assigned, mortgaged, charged, leased, or otherwise dealt with separately from the House with which the carport, the garden(s), the flat roofs, and the upper roof is/are held (as the case may be). (c) Any House shall not be partitioned and sold, assigned, mortgaged, charged leased, or otherwise dealt with separately from other parts or portions of the House. 7. Every Owner, his tenants, servants, agents, invitees invitees, and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go go, pass and xxxxxx over and along along, and to use the Development Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the same. (b) Every Owner with the exclusive right and privilege to hold, use, occupy and enjoy any Residential Unit together with his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Residential Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the same. (c) Every Owner shall at his own cost and expense be responsible for:- (i) the cleaning, repair, maintenance and replacement of all the windows of his Unit (including, in respect of any Residential Unit and for the avoidance of doubt, the openable window installed in or to any part of the Curtain Wall enclosing his Unit). In respect of the repair, maintenance and replacement of the openable windows install in or to any part of the Curtain Wall enclosing a Residential Unit, the Owner shall only engage contractors nominated and approved by the Manager to carry out such works. In respect of the replacement of the openable windows install in or to any part of the Curtain Wall enclosing his Unit, the Owner shall in addition use such materials as approved by the Manager; and (ii) cleaning of the internal surfaces of the Curtain Wall (including the openable windows and non-openable windows installed therein or thereto) enclosing his Unit. (d) In respect of the cleaning, repair, maintenance and replacement of the Curtain Wall enclosing the Commercial Accommodation, the Owner(s) of the Commercial Accommodation shall only engage contractors nominated and approved by the Manager to carry out such works. In respect of the replacement of any part of the Curtain Wall enclosing Commercial Accommodation, the Owner(s) of the Commercial Accommodation shall in addition use such materials as approved by the Manager. (e) The Owners of Units shall not object, and shall render full cooperation, subject to the Manager for the purpose provisions of cleaning the external surfaces of, and carrying out any works with regards to, the Curtain Wall of the Development. For the avoidance of doubt, the Manager shall not be responsible for (i) the cleaning, repair, maintenance or replacement of any openable window installed in or to any part of the Curtain Wall which forms part of a Residential Unit which shall be the relevant Owner’s responsibility. (f) The following provisions shall apply to the Owner(s) of the Commercial Accommodation :- (i) Notwithstanding anything herein contained and without prejudice or any limitation to the rights reserved to the First Owner under this Deed, the Owner of the Commercial Accommodation (or Owners in accordance with the provisions in the relevant Sub-Deed (if any) in respect of the Commercial Accommodation) shall have the right to affix, erect, maintain, alter, renew, service, repair, replace and remove signs, signboards (illuminated or otherwise), advertisements, lightings, banners, posters or placards or other things or structures or visual images of whatsoever kind, size and description on the exterior or interior of the external walls and Curtain Wall (if any) enclosing the Commercial Accommodation or any part thereof for the purpose of advertising or otherwise and to grant the right to do so to any person PROVIDED HOWEVER THAT any such things, structures or visual images shall not, in the opinion rights of the Manager, unreasonably interfere with the use and enjoyment by other Owners of House Rules, or the parts of the Development owned by them and/or adversely affect the external appearance of the Development, and the opinion of the Manager in this respect shall be final and conclusive; and (ii) The sole Owner of the Commercial Accommodation shall have the right to enter into a Sub-Deed in respect of the Commercial Accommodation (the “Commercial Sub-DMC”) for the purpose of (i) allocating Undivided Shares to the Unit(s) within the Commercial Accommodation as common areas and common services and facilities for the common use and benefit of the Owners, occupiers and invitees of the Commercial Accommodation and allocate Undivided Shares thereto and (iii) making further provisions for the management, maintenance and servicing of the Commercial Accommodation and its equipment, services and apparatus and for the purpose of further defining and regulating the rights, interests and obligations of the Owners thereof Provided that the provisions of the Commercial Sub- DMC shall not conflict with the provisions of this Deed and shall not adversely affect or prejudice the rights, interests or obligations of the other Owners of the Development (other than the Owners of the Commercial Accommodation) under this Deed or any other previous Sub-Deed(s). (iii) The Owner(s) of the Commercial Accommodation shall have the right to have free and uninterrupted passage and running of electricity and various other services (if any) from and to the Curtain Wall forming part of the Commercial Accommodation (if any) through the ducts, cables, pipes, wires and other conducting media which now are or may at any time hereafter be in, under or passing through the Lot and the Development (including the Common Areas and Facilities) or any part or parts thereof for the proper use and enjoyment of the Curtain Walls forming part of the Commercial Accommodation fitting out rules (if any). (iv) Each Owner of the Commercial Accommodation, his tenants, servants, agents, invitees and licensees shall have the right to go pass and xxxxxx over and along the relevant part or parts of Residential Common Areas and Facilities for the following purposes only:- (1) fire escape or in cases of emergency provided that the relevant Owner of the Commercial Accommodation shall make good any damage to the Residential Common Areas and Facilities caused thereby; and (2) for the purpose of gaining access to relevant part or parts of the Development Common Areas and Facilities for purposes connected with the proper use and enjoyment of his part of the Land and Development if and only if (A) there is no other practicable means to enter into such part or parts of the Development Common Areas and Facilities and (B) where access to such part or parts of the Residential Common Areas and Facilities for such is unavoidable, and PROVIDED THAT such access shall be subject to such restrictions (including, without limitation, those in relation to the time and routing of such access) as may be imposed by the Manager. (g) Upon execution of this Deed, the First Owner shall assign to the Manager free of costs or consideration the whole of the Undivided Shares allocated to the Common Areas and Facilities under this Deed subject to and with the benefit of the Government Lease and this Deed. Such Undivided Shares together with the right to hold, use, occupy and enjoy the Common Areas and Facilities shall be held by the Manager as trustee for the benefit of all the Owners for the time being and in the event the Manager shall resign or be dismissed or wound up or a receiving order made against it and another manager appointed in its stead in accordance with these presents, then the Manager or the liquidator or the receiver (as the case may be) shall assign free of costs or consideration such Undivided Shares to the new manager upon the same trust PROVIDED THAT if an Owners’ Corporation is formed under the Building Management Ordinance it may require the Manager for the time being or its liquidator or receiver (as the case may be) to assign such Undivided Shares and transfer the management responsibility to it free of costs or consideration and in which event the Manager shall assign free of costs the Undivided Shares in respect of the Common Areas and Facilities and transfer free of costs the management responsibility to the Owners’ Corporation which shall hold such Undivided Shares on trust for the benefit of all the Owners.

Rights and Obligations of Owners. 1. 2.1 The First Owner shall at all times hereafter subject to and with the benefit of the Government Lease Grant have the sole and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Assignee the whole of the Lot Land and the Development together with the appurtenances thereto and the entire rents and profits thereof SAVE AND EXCEPT the First Assignee’s Unit assigned to the First Assignee as aforesaid and SUBJECT TO the rights and privileges granted to the First Assignee by the aforesaid Assignment referred to in paragraph (E) of the Recitals above and SUBJECT TO the provisions of this Deed. 2. 2.2 The First Assignee shall at all times hereafter subject to and with the benefit of the Government Lease Grant and these presents have the full and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Owner the First Assignee’s Unit assigned to the First Assignee by the said Assignment referred to in paragraph (E) of the Recitals above together with the appurtenances thereto and the entire rents and profits thereof. 3. 2.3 Each Undivided Share and the full and exclusive right and privilege to hold, use, occupy and enjoy any part of the Development shall be held by the person or persons from time to time entitled thereto subject to and with the benefit of the rights and privileges provided in the SECOND SCHEDULE hereto and the express covenants and provisions herein contained. 4. 2.4 The Owner or Owners for the time being of each Undivided Share shall at all times hereafter be bound by and shall observe and perform the covenants, provisions and restrictions contained herein and in the THIRD SCHEDULE hereto and such Owner shall comply with the House Rules from time to time in force so far as the same are binding on such Owner. 5. 2.5 Subject to the Government LeaseGrant, every Owner shall have the full right and liberty without reference to the other Owners or other persons who may be interested in any other Undivided Share or Shares in any way whatsoever and without the necessity of making such other Owners or other persons a party to the transaction to sell, assign, mortgage, lease, license or otherwise dispose of or deal with his Undivided Shares together with the exclusive right and privilege to hold, use, occupy and enjoy such part or parts of the Development which may be held therewith PROVIDED THAT any such sale, assignment, mortgage, lease or licence shall be made expressly subject to and with the benefit of this Deed. 6. (a) The right to the exclusive use, occupation and enjoyment of any part of the Lot Land or the Development shall not be sold, assigned, mortgaged, charged, leased or otherwise dealt with separately from the Undivided Share with which the same is held PROVIDED ALWAYS THAT the provisions of this Clause shall not restrict the leasing or licensing of any Unit. (b) The right to the exclusive use, occupation and enjoyment of balcony, utility platform, flat roof or roof appertaining to a Residential Unit shall not be sold, assigned, mortgaged, charged, leased or otherwise dealt with separately from a Residential Unit with which such balcony, utility platform, flat roof or roof is held. (c) The right to the exclusive use, occupation and enjoyment of the Signboard shall not be sold, assigned, mortgaged, charged, leased or otherwise dealt with separately from the Undivided Share(s) allocated to the Commercial Accommodation. (a) Every Owner, his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Development Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the same. (b) Every Owner with the exclusive right and privilege to hold, use, occupy and enjoy any Residential Unit together with his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Residential Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the same. (c) Every In each of the above cases, the right and liberty shall be subject to the provisions of this Deed, the rights of the Manager and the House Rules. (a) Notwithstanding anything herein contained and without prejudice or any limitation to the rights reserved to the First Owner under this Deed and subject to observance and compliance with any applicable laws and regulations, an Owner of the Commercial Accommodation (or part(s) thereof) shall at his own cost have the right to affix, erect, maintain, alter, renew, service, repair, replace and expense remove canopies and awnings onto the shop front or to grant the right to do so to any person PROVIDED THAT any such canopies and awnings shall not unreasonably interfere with the use and enjoyment by other Owners of their Units and shall (unless the relevant part(s) of the Commercial Accommodation is owned by the First Owner) be responsible for:-subject to the prior written consent of the Manager who may in its discretion impose conditions to the consent and FOR THIS PURPOSE, an Owner of the Commercial Accommodation (or part(s) thereof) shall have:- (i) the cleaning, repair, maintenance right to enter into and replacement of all the windows of his Unit (including, in respect of any Residential Unit and for the avoidance of doubt, the openable window installed in or to upon any part of the Curtain Wall enclosing his Unit). In respect Land and the Development including all parts of the repairroofs, maintenance flat roofs, canopy(ies) and replacement related parapet(s) (save and except those parts of the openable windows install Land and the Development the sole and exclusive right to the use enjoyment and occupation of which have been assigned or otherwise disposed of to an Owner) with or without workmen and equipment at all reasonable times on giving prior written notice (save in case of emergency) and the right to affix or to dock gondolas on such roofs, flat roofs, canopy(ies) and related parapet(s) for any part or all of the Curtain Wall enclosing a Residential Unit, the Owner shall only engage contractors nominated and approved by the Manager to carry out such works. In respect of the replacement of the openable windows install in or to any part of the Curtain Wall enclosing his Unit, the Owner shall in addition use such materials as approved by the Managerpurposes aforesaid; and (ii) cleaning the right to license or otherwise permit or grant the right so to do to any other person on such terms as the Owner of the internal surfaces of the Curtain Wall (including the openable windows and non-openable windows installed therein or thereto) enclosing his Unit.Commercial (d) In respect of the cleaning, repair, maintenance and replacement of the Curtain Wall enclosing the Commercial Accommodation, the Owner(s) of the Commercial Accommodation shall only engage contractors nominated and approved by the Manager to carry out such works. In respect of the replacement of any part of the Curtain Wall enclosing Commercial Accommodation, the Owner(s) of the Commercial Accommodation shall in addition use such materials as approved by the Manager. (e) The Owners of Units shall not object, and shall render full cooperation, to the Manager for the purpose of cleaning the external surfaces of, and carrying out any works with regards to, the Curtain Wall of the Development. For the avoidance of doubt, the Manager shall not be responsible for (i) the cleaning, repair, maintenance or replacement of any openable window installed in or to any part of the Curtain Wall which forms part of a Residential Unit which shall be the relevant Owner’s responsibility. (f) The following provisions shall apply to the Owner(s) of the Commercial Accommodation :- (ib) Notwithstanding anything herein contained and without prejudice or any limitation to the rights reserved to the First Owner under this Deed, the Owner of the Commercial Accommodation (or Owners in accordance shall have the right to use the Signboard for all lawful purposes and, subject to compliance with the provisions in the relevant Sub-Deed (if any) in respect requirements of the Commercial Accommodation) Government authorities concerned and subject to the provisions of this Deed, shall have the right to affix, erect, maintain, alter, renew, service, repair, replace and remove signs, signs or signboards (illuminated or otherwise), advertisements, lightings, banners, posters or placards or other things or structures or visual images of whatsoever kind, size whatever kind and description on the exterior or interior of the external walls and Curtain Wall (if any) enclosing the Commercial Accommodation Signboard or any part thereof for the purpose of advertising or otherwise and to grant the right to do so to any person PROVIDED HOWEVER THAT and FOR THIS PURPOSE, such Owner shall have:- (i) the right to enter into and upon any such things, structures or visual images shall not, in the opinion part of the ManagerLand and the Development including all parts of the roofs, unreasonably interfere flat roofs, canopy(ies) and related parapet(s) (whether forming part of a Unit) with or without workmen and equipment at all reasonable times on giving prior written notice (save in case of emergency) and the right to affix or dock gondolas on such roofs, flat roofs, canopy(ies) and related parapet(s) for any or all of the purposes aforesaid; and (ii) the right to license or otherwise permit or grant the right so to do to any other person on such terms as such Owner may deem fit PROVIDED THAT the use and enjoyment by other Owners of the parts of the Development owned by them and/or adversely affect the external appearance of the Development, and the opinion of the Manager in this respect their Units shall not be final and conclusive; andunreasonably interfered with. (iic) The sole An Owner of the Commercial Accommodation (or part(s) thereof) shall have before carrying out any works in relation to his Unit and/or the right to enter into Signboard effect and keep at all times during the carrying out of such works comprehensive third party insurance cover in such amount and scope as shall be determined by the Manager or the Owners’ Committee and with a Sub-Deed in respect reputable insurance company as shall be approved by the Manager and endorsing the respective interests of the Commercial Accommodation (the “Commercial Sub-DMC”) for the purpose of (i) allocating Undivided Shares to the Unit(s) within the Commercial Accommodation as common areas and common services and facilities for the common use and benefit of the OwnersManager, occupiers and invitees of the Commercial Accommodation and allocate Undivided Shares thereto and (iii) making further provisions for the management, maintenance and servicing of the Commercial Accommodation and its equipment, services and apparatus and for the purpose of further defining and regulating the rights, interests and obligations of the Owners thereof Provided that the provisions of the Commercial Sub- DMC shall not conflict with the provisions of this Deed and shall not adversely affect or prejudice the rights, interests or obligations of the other all Owners of the Development and the Owners’ Corporation (other than the Owners of the Commercial Accommodation) under this Deed or any other previous Sub-Deed(sif formed). (iii) The Owner(s) of the Commercial Accommodation shall have the right to have free and uninterrupted passage and running of electricity and various other services (if any) from and to the Curtain Wall forming part of the Commercial Accommodation (if any) through the ducts, cables, pipes, wires and other conducting media which now are or may at any time hereafter be in, under or passing through the Lot and the Development (including the Common Areas and Facilities) or any part or parts thereof for the proper use and enjoyment of the Curtain Walls forming part of the Commercial Accommodation (if any). (iv) Each Owner of the Commercial Accommodation, his tenants, servants, agents, invitees and licensees shall have the right to go pass and xxxxxx over and along the relevant part or parts of Residential Common Areas and Facilities for the following purposes only:- (1) fire escape or in cases of emergency provided that the relevant Owner of the Commercial Accommodation shall make good any damage to the Residential Common Areas and Facilities caused thereby; and (2) for the purpose of gaining access to relevant part or parts of the Development Common Areas and Facilities for purposes connected with the proper use and enjoyment of his part of the Land and Development if and only if (A) there is no other practicable means to enter into such part or parts of the Development Common Areas and Facilities and (B) where access to such part or parts of the Residential Common Areas and Facilities for such is unavoidable, and PROVIDED THAT such access shall be subject to such restrictions (including, without limitation, those in relation to the time and routing of such access) as may be imposed by the Manager. (g) 2.9 Upon execution of this Deed, the First Owner shall assign to the Manager as trustee for all Owners free of costs or consideration the whole of the Undivided Shares allocated to the Common Areas and Facilities under this Deed together with the Common Areas and Facilities subject to and with the benefit of the Government Lease Grant and this Deed. Such Undivided Shares together with the right to hold, use, occupy and enjoy the Common Areas and Facilities shall be held by the Manager as trustee for the benefit of all the Owners for the time being and in In the event the Manager shall resign or be dismissed or wound up or a receiving order made against it and another manager appointed in its stead in accordance with these presents, then the Manager or the liquidator or the receiver (as the case may be) shall assign free of costs or consideration such Undivided Shares together with the Common Areas and Facilities to the new manager upon the same trust PROVIDED THAT if an Owners’ Corporation is formed under the Building Management Ordinance it may require the Manager for the time being or its liquidator or receiver (as the case may be) to assign such Undivided Shares together with the Common Areas and Facilities and transfer the management responsibility to it free of costs or consideration and in which event the Manager shall assign free of costs the Undivided Shares in respect of allocated to the Common Areas and Facilities together with the Common Areas and Facilities and transfer free of costs the management responsibility to the Owners’ Corporation which shall hold such Undivided Shares on trust for the benefit of all the Owners.

Rights and Obligations of Owners. 1. The First Owner shall at all times hereafter subject to and with the benefit of the Government Lease have the sole and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Assignee the whole of the Lot and the Development together with the appurtenances thereto and the entire rents and profits thereof SAVE AND EXCEPT the First Assignee’s Unit Common Areas and Facilities and the said premises assigned to the First Assignee as aforesaid and SUBJECT TO the rights and privileges granted to the First Assignee by the aforesaid Assignment referred to in paragraph (E) of the Recitals above and SUBJECT TO the provisions of this Deed. 2. The First Assignee shall at all times hereafter subject to and with the benefit of the Government Lease and these presents have the full and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Owner the First Assignee’s Unit said premises assigned to the First Assignee by the said Assignment referred to in paragraph (E) of the Recitals above together with the appurtenances thereto and the entire rents and profits thereof. 3. Each Undivided Share and the full and exclusive right and privilege to hold, use, occupy and enjoy any part of the Development and to receive rents and profits therefrom shall be held by the person or persons from time to time entitled thereto subject to and with the benefit of the rights and privileges provided in the SECOND SCHEDULE hereto and the express covenants and provisions herein contained. 4. The Owner or Owners for the time being of each Undivided Share shall at all times hereafter be bound by and shall observe and perform the covenants, provisions and restrictions contained herein and in the THIRD SCHEDULE hereto and such Owner shall comply with the House Rules from time to time in force so far as the same are binding on such Owner. 5. Subject to the Government Lease, every Every Owner shall have the full right and liberty without reference to the other Owners or other persons who may be interested in any other Undivided Share or Shares in any way whatsoever and without the necessity of making such other Owners or other persons a party to the transaction to sell, assign, mortgage, lease, license or otherwise dispose of or deal with his Undivided Shares together with the exclusive right and privilege to hold, use, occupy and enjoy such part or parts of the Development which may be held therewith PROVIDED THAT any such sale, assignment, mortgage, lease or licence shall be made expressly subject to and with the benefit of the Government Lease and this DeedDeed AND PROVIDED FURTHER THAT any Car Parking Space of the Development shall only be sold and assigned to a person who is for the time being an Owner of the Development. 6. (a) The right to the exclusive use, occupation and enjoyment of any part of the Lot or the Development shall not be sold, assigned, mortgaged, charged, leased or otherwise dealt with separately from the Undivided Share with which the same is held PROVIDED ALWAYS THAT the provisions of this Clause shall not restrict the leasing extend to leases or licensing tenancies in respect of any Unitpart of the Lot and the Development, the terms of which (including any right of renewal) shall not exceed 10 years. (b) The right to the exclusive use, occupation and enjoyment of any curtain wall, flat roof, air-conditioning plant room, air-conditioning platform, utility platform or balcony shall not be sold, assigned, mortgaged, charged, leased or otherwise dealt with separately from the Unit with which the curtain wall, flat roof, air-conditioning plant room, air-conditioning platform, utility platform or balcony is held. (a) Every Owner, his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Development Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the same. (b) Every Owner with the exclusive right and privilege to hold, use, occupy and enjoy any Residential Unit together with his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Residential Common Areas and Facilities, the Commercial and Residential Common Areas and Facilities and the Residential and Car Park Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the same. (c) Every Owner shall at his own cost and expense be responsible for:- (i) the cleaning, repair, maintenance and replacement of all the windows of his Unit (including, in respect of any Residential Unit and for the avoidance of doubt, the openable window installed in or to any part of the Curtain Wall enclosing his Unit). In respect of the repair, maintenance and replacement of the openable windows install in or to any part of the Curtain Wall enclosing a Residential Unit, the Owner shall only engage contractors nominated and approved by the Manager to carry out such works. In respect of the replacement of the openable windows install in or to any part of the Curtain Wall enclosing his Unit, the Owner shall in addition use such materials as approved by the Manager; and (ii) cleaning of the internal surfaces of the Curtain Wall (including the openable windows and non-openable windows installed therein or thereto) enclosing his Unit. (d) In respect of the cleaning, repair, maintenance and replacement of the Curtain Wall enclosing the Commercial Accommodation, the Owner(s) of the Commercial Accommodation shall only engage contractors nominated and approved by the Manager to carry out such works. In respect of the replacement of any part of the Curtain Wall enclosing Commercial Accommodation, the Owner(s) of the Commercial Accommodation shall in addition use such materials as approved by the Manager. (e) The Owners of Units shall not object, and shall render full cooperation, to the Manager for the purpose of cleaning the external surfaces of, and carrying out any works with regards to, the Curtain Wall of the Development. For the avoidance of doubt, the Manager shall not be responsible for (i) the cleaning, repair, maintenance or replacement of any openable window installed in or to any part of the Curtain Wall which forms part of a Residential Unit which shall be the relevant Owner’s responsibility. (f) The following provisions shall apply to the Owner(s) of the Commercial Accommodation :- (i) Notwithstanding anything herein contained and without prejudice or any limitation to the rights reserved to the First Owner under this Deed, the Owner of the Commercial Accommodation (or Owners in accordance with the provisions in the relevant Sub-Deed (if any) in respect of the Commercial Accommodation) exclusive right and privilege to hold, use, occupy and enjoy any Car Parking Space shall have the full right and liberty (in common with the Manager and others having like rights) to affix, erect, maintain, alter, renew, service, repair, replace go pass and remove signs, signboards (illuminated or otherwise), advertisements, lightings, banners, posters or placards or other things or structures or visual images of whatsoever kind, size xxxxxx over and description on the exterior or interior of the external walls and Curtain Wall (if any) enclosing the Commercial Accommodation or any part thereof for the purpose of advertising or otherwise along and to grant use the right to do so to any person PROVIDED HOWEVER THAT any such things, structures or visual images shall not, in the opinion of the Manager, unreasonably interfere with the use and enjoyment by other Owners of the parts of the Development owned by them and/or adversely affect the external appearance of the Development, and the opinion of the Manager in this respect shall be final and conclusive; and (ii) The sole Owner of the Commercial Accommodation shall have the right to enter into a Sub-Deed in respect of the Commercial Accommodation (the “Commercial Sub-DMC”) for the purpose of (i) allocating Undivided Shares to the Unit(s) within the Commercial Accommodation as common areas and common services and facilities for the common use and benefit of the Owners, occupiers and invitees of the Commercial Accommodation and allocate Undivided Shares thereto and (iii) making further provisions for the management, maintenance and servicing of the Commercial Accommodation and its equipment, services and apparatus and for the purpose of further defining and regulating the rights, interests and obligations of the Owners thereof Provided that the provisions of the Commercial Sub- DMC shall not conflict with the provisions of this Deed and shall not adversely affect or prejudice the rights, interests or obligations of the other Owners of the Development (other than the Owners of the Commercial Accommodation) under this Deed or any other previous Sub-Deed(s). (iii) The Owner(s) of the Commercial Accommodation shall have the right to have free and uninterrupted passage and running of electricity and various other services (if any) from and to the Curtain Wall forming part of the Commercial Accommodation (if any) through the ducts, cables, pipes, wires and other conducting media which now are or may at any time hereafter be in, under or passing through the Lot and the Development (including the Car Park Common Areas and Facilities) or any part or parts thereof Facilities and the Residential and Car Park Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the Curtain Walls forming part of the Commercial Accommodation (if any)same. (ivd) Each Every Owner with the exclusive right and privilege to hold, use, occupy and enjoy any Commercial Unit shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Commercial and Residential Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the Commercial Accommodation, his tenants, servants, agents, invitees same. (e) Every Owner with the right to use the Development Common Areas and licensees Facilities shall have the right to go pass and xxxxxx over and along the relevant part or parts of Residential Common Areas and Facilities and/or (as the case may be) Car Park Common Areas and Facilities and/or (as the case may be) Commercial and Residential Common Areas and Facilities and/or (as the case may be) Residential and Car Park Common Areas and Facilities, where any of them is/are adjacent to the Development Common Areas and Facilities for all purpose connected with the following purposes only:-prior use and enjoyment of such part of the Development Common Areas and Facilities. (1f) fire escape or in cases of emergency provided that Every Owner with the relevant Owner of right to use the Residential Common Areas and Facilities shall have the right to go pass and xxxxxx over and along the Development Common Areas and Facilities and/or (as the case may be) the Car Park Common Areas and Facilities and/or (as the case may be) the Commercial Accommodation shall make good and Residential Common Areas and Facilities and/or (as the case may be) Residential and Car Park Common Areas and Facilities, where any damage of them is/are adjacent to the Residential Common Areas and Facilities caused thereby; and (2) for the purpose of gaining access to relevant part or parts of the Development Common Areas and Facilities for all purposes connected with the proper use and enjoyment of his such part of the Land Residential Common Areas and Development if Facilities. (g) Every Owner with the right to use the Car Park Common Areas and only if (A) there is no other practicable means Facilities shall have the right to enter into such part or parts of go pass and xxxxxx over and along the Development Common Areas and Facilities and/or (as the case may be) the Commercial and Residential Common Areas and Facilities and/or (Bas the case may be) Residential Common Areas and Facilities and/or (as the case may be) Residential and Car Park Common Areas and Facilities, where access any of them is/are adjacent to Car Park Common Areas and Facilities for all purposes connected with the proper use and enjoyment of such part or parts of Car Park Common Areas and Facilities. (h) Every Owner with the right to use the Commercial and Residential Common Areas and Facilities shall have the right to go pass and xxxxxx over and along the Development Common Areas and Facilities and/or (as the case may be) the Car Park Common Areas and Facilities and/or (as the case may be) Residential Common Areas and Facilities and/or (as the case may be) Residential and Car Park Common Areas and Facilities, where any of them is/are adjacent to Commercial and Residential Common Areas and Facilities for all purposes connected with the proper use and enjoyment of such is unavoidablepart of Commercial and Residential Common Areas and Facilities. (i) Every Owner with the right to use the Residential and Car Park Common Areas and Facilities shall have the right to go pass and xxxxxx over and along the Development Common Areas and Facilities and/or (as the case may be) Car Park Common Areas and Facilities and/or (as the case may be) the Commercial and Residential Common Areas and Facilities and/or (as the case may be) the Residential Common Areas and Facilities, where any of them is/are adjacent to the Residential and PROVIDED THAT Car Park Common Areas and Facilities for all purposes connected with the proper use and enjoyment of such access part of the Residential and Car Park Common Areas and Facilities. (j) In each of the above cases the right and liberty shall be subject to such restrictions (includingthe provisions of this Deed, without limitation, those in relation to the time rights of the Manager and routing of such access) as may be imposed by the Manager. (g) House Rules. Upon execution of this Deed, the First Owner shall assign to the Manager free of costs or consideration the whole of the Undivided Shares allocated to the Common Areas and Facilities under this Deed subject to and with the benefit of the Government Lease and this Deed. Such Undivided Shares together with the right to hold, use, occupy and enjoy the Common Areas and Facilities shall be held by the Manager as trustee for the benefit of all the Owners for the time being and in the event the Manager shall resign or be dismissed or wound up or a receiving order made against it and another manager appointed in its stead in accordance with these presents, then the Manager or the liquidator or the receiver (as the case may be) shall assign free of costs or consideration such Undivided Shares to the new manager upon the same trust PROVIDED THAT if an Owners’ ' Corporation is formed under the Building Management Ordinance it may require the Manager for the time being or its liquidator or receiver (as the case may be) to assign such Undivided Shares and transfer the management responsibility to it free of costs or consideration and in which event the Manager shall assign free of costs the Undivided Shares in respect of the Common Areas and Facilities and transfer free of costs the management responsibility to the Owners’ ' Corporation which shall hold such Undivided Shares on trust for the benefit of all the Owners.

Rights and Obligations of Owners. 1. The First Owner shall at all times hereafter subject to and with the benefit of the Government Lease Grant and this Deed have the sole and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Assignee Second Owner the whole of the Lot and the Development together with the appurtenances thereto and the entire rents and profits thereof SAVE AND EXCEPT the First Assignee’s Second Owner's Unit assigned to the First Assignee Second Owner as aforesaid and the Common Areas and Facilities and SUBJECT TO the rights and privileges granted to the First Assignee Second Owner by the said Assignment referred to in paragraph (E) of the Recitals above and AND SUBJECT TO the provisions of this DeedDeed so far as they are still subsisting. 2. The First Assignee Second Owner shall at all times hereafter subject to and with the benefit of the Government Lease Grant and these presents this Deed have the full and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Owner the First Assignee’s Second Owner's Unit assigned to the First Assignee Second Owner by the said Assignment referred to in paragraph (E) of the Recitals above together with the appurtenances thereto and the entire rents and profits thereof. 3. Each Undivided Share and the full and exclusive right and privilege to hold, use, occupy and enjoy a Unit or any part of the Development and to receive rents and profits therefrom shall be held by the person Owner or persons Owners from time to time entitled thereto subject to and with the benefit of the rights and privileges provided in the SECOND SCHEDULE hereto and the express covenants and provisions herein contained. 4. The Owner or Owners for the time being of each Undivided Share (including the First Owner) shall at all times hereafter be bound by and shall observe and perform the covenants, provisions and restrictions contained herein and in the THIRD SCHEDULE hereto and such Owner shall comply with the House Rules from time to time in force so far as the same are binding on relate to such OwnerUndivided Share held by him or them. 5. Subject to the Government LeaseGrant and this Deed, every Owner shall have the full right and liberty without reference to the other Owners or other persons who may be interested in any other Undivided Share or Shares in any way whatsoever and without the necessity of making such other Owners or other persons a party to the transaction to sell, assign, mortgage, charge, lease, license or otherwise dispose of or deal with his Undivided Shares together with the exclusive right and privilege to hold, use, occupy and enjoy such Unit or part or parts of the Development which may be held therewith PROVIDED THAT any such sale, assignment, mortgage, charge, lease or licence shall be made expressly subject to and with the benefit of the Government Grant and this Deed. 6. (a) The right to the exclusive use, occupation and enjoyment of any Unit or part of the Lot or and the Development shall not be sold, assigned, mortgaged, charged, leased or otherwise dealt with separately from the Undivided Share with which the same is held PROVIDED THAT nothing in this Clause shall be taken as restricting the rights of the Owner of the Commercial Accommodation to sub-divide the Commercial Accommodation or any part thereof and PROVIDED ALWAYS THAT the provisions of this Clause shall, subject to the Government Grant, not extend to leases or tenancies in respect of any Unit or part of the Lot and the Development the terms of which (including any renewals thereof) shall not restrict exceed ten (10) years. (b) The right to the leasing exclusive use, occupation and enjoyment of Non-enclosed Area or licensing of any Unitflat roof shall not be sold, assigned, mortgaged, charged, leased or otherwise dealt with separately from the Unit with which the Non-enclosed Area or flat roof is held. (a) Every Owner, his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Development Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the samesame subject to the provisions of this Deed, the rights of the Manager and the House Rules relating thereto. (b) Every The Owner with the exclusive right and privilege to hold, use, occupy and enjoy of any Residential Unit together with his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Residential Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the samesame subject to the provisions of this Deed, the rights of the Manager and the House Rules relating thereto. (c) Every Owner shall at his own cost and expense be responsible for:- (i) the cleaning, repair, maintenance and replacement of all the windows of his Unit (including, in respect of any Residential Unit and for the avoidance of doubt, the openable window installed in or to any part of the Curtain Wall enclosing his Unit). In respect of the repair, maintenance and replacement of the openable windows install in or to any part of the Curtain Wall enclosing a Residential Unit, the Owner shall only engage contractors nominated and approved by the Manager to carry out such works. In respect of the replacement of the openable windows install in or to any part of the Curtain Wall enclosing his Unit, the Owner shall in addition use such materials as approved by the Manager; and (ii) cleaning of the internal surfaces of the Curtain Wall (including the openable windows and non-openable windows installed therein or thereto) enclosing his Unit. (d) In respect of the cleaning, repair, maintenance and replacement of the Curtain Wall enclosing the Commercial Accommodation, the Owner(s) of the Commercial Accommodation shall only engage contractors nominated and approved by the Manager to carry out such works. In respect of the replacement of any part of the Curtain Wall enclosing Commercial Accommodation, the Owner(s) of the Commercial Accommodation shall in addition use such materials as approved by the Manager. (e) The Owners of Units shall not object, and shall render full cooperation, to the Manager for the purpose of cleaning the external surfaces of, and carrying out any works with regards to, the Curtain Wall of the Development. For the avoidance of doubt, the Manager shall not be responsible for (i) the cleaning, repair, maintenance or replacement of any openable window installed in or to any part of the Curtain Wall which forms part of a Residential Unit which shall be the relevant Owner’s responsibility. (f) The following provisions shall apply to the Owner(s) of the Commercial Accommodation :- (i) Notwithstanding anything herein contained and without prejudice or any limitation to the rights reserved to the First Owner under this Deed, the Owner of the Commercial Accommodation (or Owners in accordance together with the provisions in the relevant Sub-Deed (if any) in respect of the Commercial Accommodation) shall have the right to affix, erect, maintain, alter, renew, service, repair, replace and remove signs, signboards (illuminated or otherwise), advertisements, lightings, banners, posters or placards or other things or structures or visual images of whatsoever kind, size and description on the exterior or interior of the external walls and Curtain Wall (if any) enclosing the Commercial Accommodation or any part thereof for the purpose of advertising or otherwise and to grant the right to do so to any person PROVIDED HOWEVER THAT any such things, structures or visual images shall not, in the opinion of the Manager, unreasonably interfere with the use and enjoyment by other Owners of the parts of the Development owned by them and/or adversely affect the external appearance of the Development, and the opinion of the Manager in this respect shall be final and conclusive; and (ii) The sole Owner of the Commercial Accommodation shall have the right to enter into a Sub-Deed in respect of the Commercial Accommodation (the “Commercial Sub-DMC”) for the purpose of (i) allocating Undivided Shares to the Unit(s) within the Commercial Accommodation as common areas and common services and facilities for the common use and benefit of the Owners, occupiers and invitees of the Commercial Accommodation and allocate Undivided Shares thereto and (iii) making further provisions for the management, maintenance and servicing of the Commercial Accommodation and its equipment, services and apparatus and for the purpose of further defining and regulating the rights, interests and obligations of the Owners thereof Provided that the provisions of the Commercial Sub- DMC shall not conflict with the provisions of this Deed and shall not adversely affect or prejudice the rights, interests or obligations of the other Owners of the Development (other than the Owners of the Commercial Accommodation) under this Deed or any other previous Sub-Deed(s). (iii) The Owner(s) of the Commercial Accommodation shall have the right to have free and uninterrupted passage and running of electricity and various other services (if any) from and to the Curtain Wall forming part of the Commercial Accommodation (if any) through the ducts, cables, pipes, wires and other conducting media which now are or may at any time hereafter be in, under or passing through the Lot and the Development (including the Common Areas and Facilities) or any part or parts thereof for the proper use and enjoyment of the Curtain Walls forming part of the Commercial Accommodation (if any). (iv) Each Owner of the Commercial Accommodation, his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the relevant part or parts of Residential Commercial Common Areas and Facilities for the following purposes only:- (1) fire escape or in cases of emergency provided that the relevant Owner of the Commercial Accommodation shall make good any damage to the Residential Common Areas and Facilities caused thereby; and (2) for the purpose of gaining access to relevant part or parts of the Development Common Areas and Facilities for all purposes connected with the proper use and enjoyment of his part of the Land and Development if and only if (A) there is no other practicable means to enter into such part or parts of the Development Common Areas and Facilities and (B) where access to such part or parts of the Residential Common Areas and Facilities for such is unavoidable, and PROVIDED THAT such access shall be same subject to such restrictions (including, without limitation, those in relation to the time and routing of such access) as may be imposed by the Manager. (g) Upon execution provisions of this Deed, the rights of the Manager and the House Rules relating thereto. For this purpose, the Owner and occupier of the flat roof adjacent to the Planter (Greenery Area) on the First Floor of the Development shall permit the other Owners of the Commercial Accommodation and their tenants, servants, agents, invitees and licensees to have access to the said Planter (Greenery Area). (d) The Owner(s) or occupier(s) of the Commercial Accommodation shall permit other Owners of the Development and their tenants, servants, agents, invitees and licensees to have access to the First Floor of the Commercial Accommodation through the Notional Corridor for Change of Required Staircase in the event of fire or emergency. (e) For the avoidance of doubt and notwithstanding any provisions herein contained, the Owner of the Commercial Accommodation, or any part(s) thereof, shall have the right at any time(s) and from time to time as he shall think fit to do all or any of the following acts or deeds and to exercise all or any of the following rights :- (i) The right to partition and sub-divide the Commercial Accommodation, or any part(s) thereof, owned by him into such number of portions (subject to compliance with the Buildings Ordinance (Chapter 123 of the Laws of Hong Kong) and any other relevant ordinances, regulations and by-laws applicable thereto and to this Deed) as such Owner shall assign think fit. (ii) The right to allocate, re-allocate and/or sub-allocate the Undivided Shares and/or Management Units to the Manager free of costs Commercial Accommodation, or consideration any part(s) thereof, provided that the whole allocation of the Undivided Shares allocated and/or Management Units shall be calculated by reference to the Common Areas and Facilities under gross floor area of each sub-divided unit concerned and, PROVIDED THAT the exercise of this Deed subject to and right shall not interfere with the benefit of the Government Lease and this Deed. Such Undivided Shares together with the another Owner’s right to hold, use, occupy and enjoy the Common Areas and Facilities shall be held by part of the Manager as trustee for the benefit Commercial Accommodation which he owns. (iii) The right to enter into one or more sub-deed(s) of all the Owners for the time being and in the event the Manager shall resign or be dismissed or wound up or a receiving order made against it and another manager appointed in its stead in accordance with these presents, then the Manager or the liquidator or the receiver (as the case may be) shall assign free of costs or consideration such Undivided Shares to the new manager upon the same trust PROVIDED THAT if an Owners’ Corporation is formed under the Building Management Ordinance it may require the Manager for the time being or its liquidator or receiver (as the case may be) to assign such Undivided Shares and transfer the management responsibility to it free of costs or consideration and in which event the Manager shall assign free of costs the Undivided Shares mutual covenant in respect of the Commercial Accommodation, or any part(s) thereof, with any other Owner or Owners of the sub-divided portion(s) of the Commercial Accommodation, or any part(s) thereof, to regulate and define their rights and obligations Provided That no such sub-deed(s) of mutual covenant shall conflict with any provision hereof or any conditions of the Government Grant or any other sub-deed(s) of mutual covenant. (iv) The right to allocate lavatories or other areas or facilities within the Commercial Accommodation, or any part(s) thereof, for the exclusive use of any sub-divided portion(s) of the Commercial Accommodation, or any part(s) thereof PROVIDED THAT the exercise of this right shall not interfere with another Owner’s right to hold, use, occupy and enjoy the part of the Commercial Accommodation which he owns. (v) The right to designate or re-designate or alter the user of Commercial Accommodation, or any part(s) thereof, without the concurrence or approval of any other Owners or other person having an interest in the Lot and the Development and no such designation, re-designation or alteration shall give the other Owners any right of action against such Owner but nothing herein shall absolve such Owner from the requirements of obtaining the prior written consent of the Government pursuant to the Government Grant (if necessary) and/or other Government authorities and Provided always that such designation, re-designation or alteration shall not contravene the Government Grant and shall be subject to the provisions of this Deed. (vi) Subject to the prior approval of the Manager in writing, the right to erect and exhibit Signs on the external walls and/or the enclosing walls and/or the flat roof of the Commercial Accommodation or any part or parts thereof in such manner as the Owner thinks fit without the concurrence or approval of the other Owners. Nothing herein however shall absolve such Owner from the requirements of obtaining the approval (if necessary) of the Building Authority or any other statutory or Government authorities pursuant to the Government Grant or any applicable Ordinance. The Owner shall obtain written approval from the Manager prior to the commencement of works provided that such approval shall not be unreasonably withheld by the Manager. For the purpose of exercising its right herein, the Owner shall have the right to :- (a) add to or amend the Approved Building Plans or any plan or proposal (if any) prepared or which requires approval under the Government Grant or any law; (b) apply to the Government for, and negotiate and agree with the Government on, any variation or modification of the Government Grant or any provision thereof, or to obtain any approval, waiver or no-objection by the Government relating to any provision thereof; (c) execute any document relating to such variation, modification, approval, waiver or no-objection in the name of the Owner who exercises this right without joining in any other Owner; (d) obtain all necessary approvals under the Government Grant or the law; and (e) carry out any works. (vii) Subject to the provisions of this Deed, right to make or install in the Commercial Accommodation at his own expense any partitions, additions, improvements, lights, fittings, fixtures or decorations which can be installed, fixed and removed without structural alteration or damage and without affecting the existing design or external appearance of the façade or elevations of any building and the right to remove the same at his own expense. (viii) Subject to the provisions of this Deed the right to alter, re-arrange or demolish the interior structure of such Commercial Accommodation or any part thereof owned by him and to replace or construct or re-construct the same and/or any interior structure in such manner as such Owner thinks fit without the concurrence or approval of the other Owners but nothing herein shall absolve such Owner from the requirements of obtaining the prior written consent of the Building Authority and any other relevant statutory Government Authorities . (ix) The right to lay, maintain, alter, repair or remove any drains, pipes, cables, sewers, channels, wires or ducts or any other services and facilities in or upon the Common Areas and Facilities and transfer free of costs the management responsibility to the Owners’ Corporation which shall hold such Undivided Shares on trust for the use and benefit of the Commercial Accommodation or any part thereof and to enter with or without workmen and equipment at all reasonable times on written notice (except in case of emergency) into and upon all parts of the OwnersLot and the Development including any Unit and the Common Areas and Facilities for the purpose of carrying out such works causing as little disturbance as possible and forthwith making good any damage caused thereby.

Rights and Obligations of Owners. 1. 2.1 The First Owner shall at all times hereafter hereafter, subject to and with the benefit of the Government Lease Grant, have the sole and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Assignee the whole of the Lot Land and the Development together with the appurtenances thereto and the entire rents and profits thereof SAVE AND EXCEPT the First Assignee’s 's Unit assigned to the First Assignee as aforesaid and the Common Areas and Facilities and SUBJECT TO the rights and privileges granted to the First Assignee by the aforesaid Assignment referred to in paragraph (E) of the Recitals above and SUBJECT TO the provisions of this Deed. 2. 2.2 The First Assignee shall at all times hereafter subject to and with the benefit of the Government Lease Grant and these presents have the full and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Owner the First Assignee’s 's Unit assigned to the First Assignee by the said Assignment referred to in paragraph (E) of the Recitals above together with the appurtenances thereto and the entire rents and profits thereof. 3. 2.3 Each Undivided Share and the full sole and exclusive right and privilege to hold, use, occupy and enjoy any part of the Development shall be held by the person or persons Owner from time to time entitled thereto of such Undivided Share subject to and with the benefit of the easements, rights and privileges provided in the SECOND SCHEDULE hereto and the express covenants and provisions herein containedhereto. 4. 2.4 The Owner or Owners for the time being of each Undivided Share shall at all times hereafter be bound by and shall observe and perform the covenants, provisions and restrictions contained herein and in the THIRD SCHEDULE hereto and such Owner shall comply with the House Development Rules from time to time in force so far as the same are binding on such Owner. 5. Subject to the Government Lease, every 2.5 Every Owner shall have the full right and liberty without reference to the any other Owners Owner or other persons any person who may be interested in any other Undivided Share or Shares in any way whatsoever and without the necessity of making such other Owners Owner or other persons such person a party to the transaction to sell, assign, mortgage, charge, lease, license or otherwise dispose of or deal with his Undivided Shares Share or interest of and in the Land and the Development together with the sole and exclusive right and privilege to hold, use, occupy and enjoy such part or parts part(s) of the Development which may be held therewith PROVIDED THAT any such sale, assignment, mortgage, lease or licence transaction shall be made expressly subject to and with the benefit of this Deed. 6. (a) The sole and exclusive right and privilege to the exclusive hold, use, occupation occupy and enjoyment of enjoy any part of the Lot or the Development shall not be sold, assigned, mortgaged, charged, leased or otherwise dealt with separately from the Undivided Share with which the same is held PROVIDED ALWAYS THAT the provisions of this Clause 2.6 of Section II, subject to the Government Grant, do not extend to any lease, tenancy or licence with a term not exceeding ten (10) years. (b) The right to the exclusive use, occupation and enjoyment of the Residential Carport, staircase, garden, swimming pool, flat roof, roof, top roof, stairhood or external walls appertaining to a House shall not restrict be sold, assigned, mortgaged, charged, leased or otherwise dealt with separately from a House with which the leasing Residential Carport, such staircase, garden, swimming pool, flat roof, roof, top roof, stairhood or licensing of any Unitexternal walls is held. (a) Every Owner, his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Development Common Areas and Facilities for all purposes connected with the proper use and enjoyment of his Unit, the sameVisitor Parking Space and the Accessible Parking Space. (b) Every Owner with the exclusive right and privilege to hold, use, occupy and enjoy any Residential Unit together with his tenants, servants, agents, invitees and licensees shall have the full The right and liberty (mentioned in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Residential Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the same. (c) Every Owner shall at his own cost and expense be responsible for:- (i) the cleaning, repair, maintenance and replacement of all the windows of his Unit (including, in respect of any Residential Unit and for the avoidance of doubt, the openable window installed in or to any part of the Curtain Wall enclosing his Unit). In respect of the repair, maintenance and replacement of the openable windows install in or to any part of the Curtain Wall enclosing a Residential Unit, the Owner shall only engage contractors nominated and approved by the Manager to carry out such works. In respect of the replacement of the openable windows install in or to any part of the Curtain Wall enclosing his Unit, the Owner shall in addition use such materials as approved by the Manager; and (ii) cleaning of the internal surfaces of the Curtain Wall (including the openable windows and non-openable windows installed therein or thereto) enclosing his Unit. (d) In respect of the cleaning, repair, maintenance and replacement of the Curtain Wall enclosing the Commercial Accommodation, the Owner(sClause 2.7(a) of the Commercial Accommodation Section II shall only engage contractors nominated and approved by the Manager to carry out such works. In respect of the replacement of any part of the Curtain Wall enclosing Commercial Accommodation, the Owner(s) of the Commercial Accommodation shall in addition use such materials as approved by the Manager. (e) The Owners of Units shall not object, and shall render full cooperation, be subject to the Manager for the purpose provisions of cleaning the external surfaces of, and carrying out any works with regards to, the Curtain Wall of the Development. For the avoidance of doubt, the Manager shall not be responsible for (i) the cleaning, repair, maintenance or replacement of any openable window installed in or to any part of the Curtain Wall which forms part of a Residential Unit which shall be the relevant Owner’s responsibility. (f) The following provisions shall apply to the Owner(s) of the Commercial Accommodation :- (i) Notwithstanding anything herein contained and without prejudice or any limitation to the rights reserved to the First Owner under this Deed, the Owner of the Commercial Accommodation (or Owners in accordance with the provisions in the relevant Sub-Deed (if any) in respect of the Commercial Accommodation) shall have the right to affix, erect, maintain, alter, renew, service, repair, replace and remove signs, signboards (illuminated or otherwise), advertisements, lightings, banners, posters or placards or other things or structures or visual images of whatsoever kind, size and description on the exterior or interior of the external walls and Curtain Wall (if any) enclosing the Commercial Accommodation or any part thereof for the purpose of advertising or otherwise and to grant the right to do so to any person PROVIDED HOWEVER THAT any such things, structures or visual images shall not, in the opinion of the Manager, unreasonably interfere with the use and enjoyment by other Owners of the parts of the Development owned by them and/or adversely affect the external appearance of the Development, and the opinion rights of the Manager in this respect shall be final and conclusive; and (ii) The sole Owner of the Commercial Accommodation shall have the right to enter into a Sub-Deed in respect of the Commercial Accommodation (the “Commercial Sub-DMC”) for the purpose of (i) allocating Undivided Shares to the Unit(s) within the Commercial Accommodation as common areas and common services and facilities for the common use and benefit of the Owners, occupiers and invitees of the Commercial Accommodation and allocate Undivided Shares thereto and (iii) making further provisions for the management, maintenance and servicing of the Commercial Accommodation and its equipment, services and apparatus and for the purpose of further defining and regulating the rights, interests and obligations of the Owners thereof Provided that the provisions of the Commercial Sub- DMC shall not conflict with the provisions of this Deed and shall not adversely affect or prejudice the rights, interests or obligations of the other Owners of the Development (other than the Owners of the Commercial Accommodation) under this Deed or any other previous Sub-Deed(s). (iii) The Owner(s) of the Commercial Accommodation shall have the right to have free and uninterrupted passage and running of electricity and various other services (if any) from and to the Curtain Wall forming part of the Commercial Accommodation (if any) through the ducts, cables, pipes, wires and other conducting media which now are or may at any time hereafter be in, under or passing through the Lot and the Development (including the Common Areas and Facilities) or any part or parts thereof for the proper use and enjoyment of the Curtain Walls forming part of the Commercial Accommodation (if any)Rules. (iv) Each Owner of the Commercial Accommodation, his tenants, servants, agents, invitees and licensees shall have the right to go pass and xxxxxx over and along the relevant part or parts of Residential Common Areas and Facilities for the following purposes only:- (1) fire escape or in cases of emergency provided that the relevant Owner of the Commercial Accommodation shall make good any damage to the Residential Common Areas and Facilities caused thereby; and (2) for the purpose of gaining access to relevant part or parts of the Development Common Areas and Facilities for purposes connected with the proper use and enjoyment of his part of the Land and Development if and only if (A) there is no other practicable means to enter into such part or parts of the Development Common Areas and Facilities and (B) where access to such part or parts of the Residential Common Areas and Facilities for such is unavoidable, and PROVIDED THAT such access shall be subject to such restrictions (including, without limitation, those in relation to the time and routing of such access) as may be imposed by the Manager. (g) 2.8 Upon execution of this Deed, the First Owner shall assign to the Manager as trustee for all Owners free of costs or consideration the whole of the Undivided Shares allocated to the Common Areas and Facilities under this Deed together with the Common Areas and Facilities subject to and with the benefit of the Government Lease Grant and this Deed. Such Undivided Shares together with the right to hold, use, occupy and enjoy the Common Areas and Facilities shall be held by the Manager as trustee for the benefit of all the Owners for the time being and in In the event the Manager shall resign or be dismissed or wound up or a receiving order made against it and another manager appointed in its stead in accordance with these presents, then the Manager or the liquidator or the receiver (as the case may be) shall assign free of costs or consideration such Undivided Shares to the new manager upon the same trust PROVIDED THAT if an Owners’ ' Corporation is formed under the Building Management Ordinance it may require the Manager for the time being or its liquidator or receiver (as the case may be) to assign such Undivided Shares and transfer the management responsibility to it free of costs or consideration and in which event the Manager shall assign free of costs the Undivided Shares in respect of allocated to the Common Areas and Facilities and transfer free of costs the management responsibility to the Owners’ ' Corporation which shall hold such Undivided Shares on trust for the benefit of all the Owners.

Rights and Obligations of Owners. 1. 2.1 The First Owner shall at all times hereafter subject to and with the benefit of the Government Lease Grant have the sole and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Assignee the whole of the Lot Land and the Development together with the appurtenances thereto and the entire rents and profits thereof SAVE AND EXCEPT the First Assignee’s Unit assigned to the First Assignee as aforesaid and SUBJECT TO the rights and privileges granted to the First Assignee by the aforesaid Assignment referred to in paragraph (E) of the Recitals above and SUBJECT TO the provisions of this Deed. 2. 2.2 The First Assignee shall at all times hereafter subject to and with the benefit of the Government Lease Grant and these presents have the full and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Owner the First Assignee’s Unit assigned to the First Assignee by the said Assignment referred to in paragraph (E) of the Recitals above together with the appurtenances thereto and the entire rents and profits thereof. 3. 2.3 Each Undivided Share and the full and exclusive right and privilege to hold, use, occupy and enjoy any part of the Development shall be held by the person or persons from time to time entitled thereto subject to and with the benefit of the rights and privileges provided in the SECOND SCHEDULE hereto and the express covenants and provisions herein contained. 4. 2.4 The Owner or Owners for the time being of each Undivided Share shall at all times hereafter be bound by and shall observe and perform the covenants, provisions and restrictions contained herein and in the THIRD SCHEDULE hereto and such Owner shall comply with the House Rules from time to time in force so far as the same are binding on such Owner. 5. 2.5 Subject to the Government LeaseGrant, every Owner shall have the full right and liberty without reference to the other Owners or other persons who may be interested in any other Undivided Share or Shares in any way whatsoever and without the necessity of making such other Owners or other persons a party to the transaction to sell, assign, mortgage, lease, license or otherwise dispose of or deal with his Undivided Shares together with the exclusive right and privilege to hold, use, occupy and enjoy such part or parts of the Development which may be held therewith PROVIDED THAT any such sale, assignment, mortgage, lease or licence shall be made expressly subject to and with the benefit of this Deed. 6. (a) The right to the exclusive use, occupation and enjoyment of any part of the Lot Land or the Development shall not be sold, assigned, mortgaged, charged, leased or otherwise dealt with separately from the Undivided Share with which the same is held PROVIDED ALWAYS THAT the provisions of this Clause shall not restrict the leasing or licensing of any Unit. (b) The right to the exclusive use, occupation and enjoyment of balcony, utility platform, flat roof or roof appertaining to a Residential Unit shall not be sold, assigned, mortgaged, charged, leased or otherwise dealt with separately from a Residential Unit with which such balcony, utility platform, flat roof or roof is held. (a) Every Owner, his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Development Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the same. (b) Every Owner with the exclusive right and privilege to hold, use, occupy and enjoy any Residential Unit together with his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Residential Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the same. (c) Every In each of the above cases, the right and liberty shall be subject to the provisions of this Deed, the rights of the Manager and the House Rules. (a) Notwithstanding anything herein contained and without prejudice or any limitation to the rights reserved to the First Owner under this Deed and subject to observance and compliance with any applicable laws and regulations, an Owner of the Commercial Accommodation (or part(s) thereof but excluding the Signage Areas) shall at his own cost have the right to affix, erect, maintain, alter, renew, service, repair, replace and expense remove canopies and awnings onto the shop front or to grant the right to do so to any person PROVIDED THAT any such canopies and awnings shall not unreasonably interfere with the use and enjoyment by other Owners of their Units and shall (unless the relevant part(s) of the Commercial Accommodation is owned by the First Owner) be responsible for:-subject to the prior written consent of the Manager who may in its discretion impose conditions to the consent and FOR THIS PURPOSE, an Owner of the Commercial Accommodation (or part(s) thereof but excluding the Signage Areas) shall have:- (i) the cleaning, repair, maintenance right to enter into and replacement of all the windows of his Unit (including, in respect of any Residential Unit and for the avoidance of doubt, the openable window installed in or to upon any part of the Curtain Wall enclosing his Unit). In respect Land and the Development including all parts of the repairroofs, maintenance flat roofs, canopy(ies) and replacement related parapet(s) (save and except those parts of the openable windows install Land and the Development the sole and exclusive right to the use enjoyment and occupation of which have been assigned or otherwise disposed of to an Owner) with or without workmen and equipment at all reasonable times on giving prior written notice (save in case of emergency) and the right to affix or to dock gondolas on such roofs, flat roofs, canopy(ies) and related parapet(s) for any part or all of the Curtain Wall enclosing a Residential Unit, the Owner shall only engage contractors nominated and approved by the Manager to carry out such works. In respect of the replacement of the openable windows install in or to any part of the Curtain Wall enclosing his Unit, the Owner shall in addition use such materials as approved by the Managerpurposes aforesaid; and (ii) cleaning of the internal surfaces of right to license or otherwise permit or grant the Curtain Wall (including right so to do to any other person on such terms as the openable windows and non-openable windows installed therein or thereto) enclosing his Unit. (d) In respect of the cleaning, repair, maintenance and replacement of the Curtain Wall enclosing the Commercial Accommodation, the Owner(s) Owner of the Commercial Accommodation (or part(s) thereof but excluding the Signage Areas) may deem fit; (b) An Owner of the Commercial Accommodation (or part(s) thereof but excluding the Signage Areas) shall only engage contractors nominated before carrying out any works in relation to his Unit effect and keep at all times during the carrying out of such works comprehensive third party insurance cover in such amount and scope as shall be determined by the Manager or the Owners’ Committee and with a reputable insurance company as shall be approved by the Manager to carry out such works. In respect and endorsing the respective interests of the replacement of any part Manager, all Owners of the Curtain Wall enclosing Commercial Accommodation, Development and the Owner(s) of the Commercial Accommodation shall in addition use such materials as approved by the ManagerOwners’ Corporation (if formed). (e) The Owners of Units shall not object, and shall render full cooperation, to the Manager for the purpose of cleaning the external surfaces of, and carrying out any works with regards to, the Curtain Wall of the Development. For the avoidance of doubt, the Manager shall not be responsible for (i) the cleaning, repair, maintenance or replacement of any openable window installed in or to any part of the Curtain Wall which forms part of a Residential Unit which shall be the relevant Owner’s responsibility. (f) The following provisions shall apply to the Owner(s) of the Commercial Accommodation :- (ia) Notwithstanding anything herein contained and without prejudice or any limitation to the rights reserved to the First Owner under this Deed, the an Owner of a Signage Area shall have the Commercial Accommodation (or Owners in accordance right to use his Signage Area for all lawful purposes and subject to compliance with the provisions in the relevant Sub-Deed (if any) in respect requirements of the Commercial Accommodation) Government authorities concerned, shall have the right to affix, erect, maintain, alter, renew, service, repair, replace and remove signs, signboards signboards, advertisements (illuminated or otherwise), advertisements, lightings, banners, posters or placards or lighting fixtures and any other things or fixtures and structures or visual images of whatsoever kind, size and description on the exterior or interior of the external walls and Curtain Wall (if any) enclosing the Commercial Accommodation kind onto his Signage Area or any part thereof for the purpose of advertising or otherwise and to grant the right to do so to any person PROVIDED HOWEVER THAT any such thingssigns, signboards, advertisements, lighting fixtures, fixtures and structures or visual images shall not, in the opinion of the Manager, not unreasonably interfere with the use and enjoyment by other Owners of their Units and shall (unless the Signage Area or any part thereof is owned by the First Owner) be subject to the prior written consent of the Manager who may in its discretion impose conditions to the consent and FOR THIS PURPOSE, an Owner of the Signage Area shall have:- (i) the right to enter into and upon any part of the Land and the Development including all parts of the Development owned by them and/or adversely affect the external appearance roofs, flat roofs, canopy(ies) and related parapet(s) (save and except those parts of the Development, Land and the opinion Development the sole and exclusive right to the use enjoyment and occupation of which have been assigned or otherwise disposed of to an Owner) with or without workmen and equipment at all reasonable times on giving prior written notice (save in case of emergency) and the right to affix or dock gondolas on such roofs, flat roofs, canopy(ies) and related parapet(s) for any or all of the Manager in this respect shall be final and conclusivepurposes aforesaid; and (ii) The sole the right to license or otherwise permit or grant the right so to do to any other person on such terms as the Owner of the Commercial Accommodation Signage Area(s) may deem fit; (b) An Owner of a Signage Area shall have before carrying out any works in relation to his Signage Area effect and keep at all times during the right to enter into carrying out of such works comprehensive third party insurance cover in such amount and scope as shall be determined by the Manager or the Owners’ Committee and with a Sub-Deed in respect reputable insurance company as shall be approved by the Manager and endorsing the respective interests of the Commercial Accommodation (the “Commercial Sub-DMC”) for the purpose of (i) allocating Undivided Shares to the Unit(s) within the Commercial Accommodation as common areas and common services and facilities for the common use and benefit Manager, all Owners of the Development and the Owners, occupiers and invitees of the Commercial Accommodation and allocate Undivided Shares thereto and ’ Corporation (iiiif formed). (c) making further provisions for the management, maintenance and servicing of the Commercial Accommodation and its equipment, services and apparatus and for the purpose of further defining and regulating the rights, interests and obligations of the Owners thereof Provided that the provisions of the Commercial Sub- DMC shall not conflict with Subject to the provisions of this Deed Deed, an Owner of a Signage Area or any part thereof shall have the full right and shall not adversely affect or prejudice the rights, interests or obligations of liberty without reference to the other Owners of the Development (or other than the Owners of the Commercial Accommodation) under this Deed or persons who may be interested in any other previous Sub-Deed(s). (iii) The Owner(s) Undivided Share in any way whatsoever and without the necessity of the Commercial Accommodation shall have the right to have free and uninterrupted passage and running of electricity and various making such other services (if any) from and Owners or other persons a party to the Curtain Wall forming part of the Commercial Accommodation (if any) through the ducts, cables, pipes, wires and other conducting media which now are transaction to partition or may at any time hereafter be in, under or passing through the Lot and the Development (including the Common Areas and Facilities) sub-divide his Signage Area or any part thereof into various Units and to allocate, re-allocate or parts thereof for sub-allocate the proper use Undivided Shares in respect of his Signage Area to such various Units and enjoyment to sell, assign, mortgage, lease, license or otherwise dispose of the Curtain Walls forming part of the Commercial Accommodation (if any). (iv) Each Owner of the Commercial Accommodation, or deal with his tenants, servants, agents, invitees and licensees shall have the right to go pass and xxxxxx over and along the relevant part or parts of Residential Common Areas and Facilities for the following purposes only:- (1) fire escape or in cases of emergency provided that the relevant Owner of the Commercial Accommodation shall make good any damage to the Residential Common Areas and Facilities caused thereby; and (2) for the purpose of gaining access to relevant part or parts of the Development Common Areas and Facilities for purposes connected Undivided Shares together with the proper use exclusive right and enjoyment of his part of the Land privilege to hold, use, occupy and Development if and only if (A) there is no other practicable means to enter into enjoy such part or parts of the Development Common Areas and Facilities and (B) where access to such part or parts of the Residential Common Areas and Facilities for such is unavoidable, and his Signage Area which may be held therewith PROVIDED THAT any such access sale, assignment, mortgage, lease or licence shall be made expressly subject to such restrictions (including, without limitation, those in relation to and with the time and routing benefit of such access) as may be imposed by the Managerthis Deed. (g) 2.10 Upon execution of this Deed, the First Owner shall assign to the Manager as trustee for all Owners free of costs or consideration the whole of the Undivided Shares allocated to the Common Areas and Facilities under this Deed together with the Common Areas and Facilities subject to and with the benefit of the Government Lease Grant and this Deed. Such Undivided Shares together with the right to hold, use, occupy and enjoy the Common Areas and Facilities shall be held by the Manager as trustee for the benefit of all the Owners for the time being and in In the event the Manager shall resign or be dismissed or wound up or a receiving order made against it and another manager appointed in its stead in accordance with these presents, then the Manager or the liquidator or the receiver (as the case may be) shall assign free of costs or consideration such Undivided Shares together with the Common Areas and Facilities to the new manager upon the same trust PROVIDED THAT if an Owners’ Corporation is formed under the Building Management Ordinance it may require the Manager for the time being or its liquidator or receiver (as the case may be) to assign such Undivided Shares together with the Common Areas and Facilities and transfer the management responsibility to it free of costs or consideration and in which event the Manager shall assign free of costs the Undivided Shares in respect of allocated to the Common Areas and Facilities together with the Common Areas and Facilities and transfer free of costs the management responsibility to the Owners’ Corporation which shall hold such Undivided Shares on trust for the benefit of all the Owners.

Rights and Obligations of Owners. 1. 2.1 The First Owner shall at all times hereafter hereafter, subject to and with the benefit of the Government Lease Grant, have the sole and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Assignee the whole of the Lot Land and the Development together with the appurtenances thereto and the entire rents and profits thereof SAVE AND EXCEPT the First Assignee’s Unit assigned to the First Assignee as aforesaid and the Common Areas and Facilities and SUBJECT TO the rights and privileges granted to the First Assignee by the aforesaid Assignment referred to in paragraph (E) of the Recitals above and SUBJECT TO the provisions of this Deed. 2. 2.2 The First Assignee shall at all times hereafter subject to and with the benefit of the Government Lease Grant and these presents have the full and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Owner the First Assignee’s Unit assigned to the First Assignee by the said Assignment referred to in paragraph (E) of the Recitals above together with the appurtenances thereto and the entire rents and profits thereof. 3. 2.3 Each Undivided Share and the full sole and exclusive right and privilege to hold, use, occupy and enjoy any part of the Development shall be held by the person or persons Owner from time to time entitled thereto subject to and with the benefit of the rights easements, rights, privileges and privileges obligations, and the covenants and provisions contained in this Deed (including but not limited to those provided in the SECOND SCHEDULE hereto and the express covenants and provisions herein containedTHIRD SCHEDULE hereto). 4. The 2.4 Subject to the rights, easements and privileges reserved to FSI in this Deed and the Government Grant, the Owner or Owners for the time being of each Undivided Share shall at all times hereafter be bound by and shall observe and perform the covenants, provisions and restrictions contained herein in this Deed and in the THIRD SCHEDULE hereto and such Owner (excluding FSI) shall comply with the House Development Rules from time to time in force so far as the same are binding on such Owner. 5. 2.5 Subject to the Government LeaseGrant, every Owner shall have the full right and liberty without reference to the any other Owners Owner or other persons any person who may be interested in any other Undivided Share or Shares Share(s) in any way whatsoever and without the necessity of making such other Owners Owner or other persons such person a party to the transaction to sell, assign, mortgage, charge, lease, license or otherwise dispose of or deal with his Undivided Shares Share(s) or interest of and in the Land and the Development together with the sole and exclusive right and privilege to hold, use, occupy and enjoy such part or parts part(s) of the Development which may be held therewith PROVIDED THAT THAT:- (a) any such sale, assignment, mortgage, lease or licence transaction shall be made expressly subject to and with the benefit of this Deed; (b) the Residential Car Parking Space and the Residential Motor Cycle Parking Space shall not be:- (i) assigned except (I) together with Undivided Shares giving the right of exclusive use and possession of a Residential Unit; or (II) to a person who is already the Owner of Undivided Shares in the Land and the Development with the right of exclusive use and possession of a Residential Unit; or (ii) underlet except to residents of the Residential Units AND in any event not more than three (3) in number of the total of the Residential Car Parking Spaces and the Residential Motor Cycle Parking Space shall be assigned to the Owner or underlet to the resident of any one Residential Unit. 6. The right (c) Proviso (b) shall not apply to the assignment of all the Residential Car Parking Spaces and all the Residential Motor Cycle Parking Spaces as a whole to a wholly-owned subsidiary company of the First Owner with the prior written consent of the Director of Lands. (a) The sole and exclusive right and privilege to hold, use, occupation occupy and enjoyment of enjoy any part of the Lot or the Development shall not be sold, assigned, mortgaged, charged, leased or otherwise dealt with separately from the Undivided Share Share(s) with which the same is held PROVIDED ALWAYS THAT that :- (i) the provisions of this Clause shall not restrict be applicable to the leasing or licensing of any Unit. (a) Every Owner, his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Development Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the same. (b) Every Owner with the exclusive right and privilege to hold, use, occupy and enjoy any Residential Unit together with his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Residential Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the same. (c) Every Owner shall at his own cost and expense be responsible for:- (i) the cleaning, repair, maintenance and replacement of all the windows of his Unit (including, in respect of any Residential Unit and for the avoidance of doubt, the openable window installed in or to any part of the Curtain Wall enclosing his Unit). In respect of the repair, maintenance and replacement of the openable windows install in or to any part of the Curtain Wall enclosing a Residential Unit, the Owner shall only engage contractors nominated and approved by the Manager to carry out such works. In respect of the replacement of the openable windows install in or to any part of the Curtain Wall enclosing his Unit, the Owner shall in addition use such materials as approved by the ManagerGovernment Accommodation; and (ii) cleaning of the internal surfaces of the Curtain Wall (including the openable windows and non-openable windows installed therein or thereto) enclosing his Unit. (d) In respect of the cleaning, repair, maintenance and replacement of the Curtain Wall enclosing the Commercial Accommodation, the Owner(s) of the Commercial Accommodation shall only engage contractors nominated and approved by the Manager to carry out such works. In respect of the replacement of any part of the Curtain Wall enclosing Commercial Accommodation, the Owner(s) of the Commercial Accommodation shall in addition use such materials as approved by the Manager. (e) The Owners of Units shall not object, and shall render full cooperation, to the Manager for the purpose of cleaning the external surfaces of, and carrying out any works with regards to, the Curtain Wall of the Development. For the avoidance of doubt, the Manager shall not be responsible for (i) the cleaning, repair, maintenance or replacement of any openable window installed in or to any part of the Curtain Wall which forms part of a Residential Unit which shall be the relevant Owner’s responsibility. (f) The following provisions shall apply to the Owner(s) of the Commercial Accommodation :- (i) Notwithstanding anything herein contained and without prejudice or any limitation to the rights reserved to the First Owner under this Deed, the Owner of the Commercial Accommodation (or Owners in accordance with the provisions in the relevant Sub-Deed (if any) in respect of the Commercial Accommodation) shall have the right to affix, erect, maintain, alter, renew, service, repair, replace and remove signs, signboards (illuminated or otherwise), advertisements, lightings, banners, posters or placards or other things or structures or visual images of whatsoever kind, size and description on the exterior or interior of the external walls and Curtain Wall (if any) enclosing the Commercial Accommodation or any part thereof for the purpose of advertising or otherwise and to grant the right to do so to any person PROVIDED HOWEVER THAT any such things, structures or visual images shall not, in the opinion of the Manager, unreasonably interfere with the use and enjoyment by other Owners of the parts of the Development owned by them and/or adversely affect the external appearance of the Development, and the opinion of the Manager in this respect shall be final and conclusive; and (ii) The sole Owner of the Commercial Accommodation shall have the right to enter into a Sub-Deed in respect of the Commercial Accommodation (the “Commercial Sub-DMC”) for the purpose of (i) allocating Undivided Shares to the Unit(s) within the Commercial Accommodation as common areas and common services and facilities for the common use and benefit of the Owners, occupiers and invitees of the Commercial Accommodation and allocate Undivided Shares thereto and (iii) making further provisions for the management, maintenance and servicing of the Commercial Accommodation and its equipment, services and apparatus and for the purpose of further defining and regulating the rights, interests and obligations of the Owners thereof Provided that the provisions of the Commercial Sub- DMC shall not conflict with the provisions of this Deed and shall not adversely affect or prejudice the rightsClause, interests or obligations of the other Owners of the Development (other than the Owners of the Commercial Accommodation) under this Deed or any other previous Sub-Deed(s). (iii) The Owner(s) of the Commercial Accommodation shall have the right to have free and uninterrupted passage and running of electricity and various other services (if any) from and subject to the Curtain Wall forming part of the Commercial Accommodation (if any) through the ductsGovernment Grant, cables, pipes, wires and other conducting media which now are do not extend to any lease or may at any time hereafter be in, under tenancy or passing through the Lot and the Development (including the Common Areas and Facilities) or any part or parts thereof for the proper use and enjoyment of the Curtain Walls forming part of the Commercial Accommodation (if any). (iv) Each Owner of the Commercial Accommodation, his tenants, servants, agents, invitees and licensees shall have the right to go pass and xxxxxx over and along the relevant part or parts of Residential Common Areas and Facilities for the following purposes only:- (1) fire escape or in cases of emergency provided that the relevant Owner of the Commercial Accommodation shall make good any damage to the Residential Common Areas and Facilities caused thereby; and (2) for the purpose of gaining access to relevant part or parts of the Development Common Areas and Facilities for purposes connected licence with the proper use and enjoyment of his part of the Land and Development if and only if (A) there is no other practicable means to enter into such part or parts of the Development Common Areas and Facilities and (B) where access to such part or parts of the Residential Common Areas and Facilities for such is unavoidable, and PROVIDED THAT such access shall be subject to such restrictions (including, without limitation, those in relation to the time and routing of such access) as may be imposed by the Manager. (g) Upon execution of this Deed, the First Owner shall assign to the Manager free of costs or consideration the whole of the Undivided Shares allocated to the Common Areas and Facilities under this Deed subject to and with the benefit of the Government Lease and this Deed. Such Undivided Shares together with the right to hold, use, occupy and enjoy the Common Areas and Facilities shall be held by the Manager as trustee for the benefit of all the Owners for the time being and in the event the Manager shall resign or be dismissed or wound up or a receiving order made against it and another manager appointed in its stead in accordance with these presents, then the Manager or the liquidator or the receiver (as the case may be) shall assign free of costs or consideration such Undivided Shares to the new manager upon the same trust PROVIDED THAT if an Owners’ Corporation is formed under the Building Management Ordinance it may require the Manager for the time being or its liquidator or receiver (as the case may be) to assign such Undivided Shares and transfer the management responsibility to it free of costs or consideration and in which event the Manager shall assign free of costs the Undivided Shares in respect of the Common Areas and Facilities and transfer free of costs the management responsibility to the Owners’ Corporation which shall hold such Undivided Shares on trust for the benefit of all the Owners.term not exceeding ten

Rights and Obligations of Owners. 1. 2.1 The First Owner shall at all times hereafter hereafter, subject to and with the benefit of the Government Lease Grant and this Deed, have the sole and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Assignee the whole of the Lot Land and the Development together with the appurtenances thereto and the entire rents and profits thereof SAVE AND EXCEPT the First Assignee’s Unit assigned to the First Assignee as aforesaid and SUBJECT TO the rights and privileges granted to the First Assignee by the aforesaid Assignment referred to in paragraph (E) of the Recitals above and SUBJECT TO the provisions of this DeedDeed and any Sub-Deed(s). 2. 2.2 The First Assignee shall at all times hereafter subject to and with the benefit of the Government Lease Grant, this Deed and these presents any Sub-Deed(s) have the full and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Owner the First Assignee’s Unit assigned to the First Assignee by the said Assignment referred to in paragraph (E) of the Recitals above together with the appurtenances thereto and the entire rents and profits thereof. 3. 2.3 Each Undivided Share and the full sole and exclusive right and privilege to hold, use, occupy and enjoy any part of the Development and to receive rents and profits therefrom shall be held by the person or persons Owner from time to time entitled thereto of such Undivided Share subject to and with the benefit of the rights easements, rights, privileges and privileges obligations, and the covenants and provisions contained in this Deed (including but not limited to those provided in the SECOND SCHEDULE hereto to the Deed) and the express covenants and provisions herein contained. 4. 2.4 The Owner or Owners for the time being of each Undivided Share shall at all times hereafter be bound by and shall observe and perform the covenants, provisions and restrictions contained herein and in the THIRD SCHEDULE hereto to the Deed so far as the same relate to such Undivided Share held by him or them, and such Owner shall comply with the House Estate Rules from time to time in force so far as the same are binding on such Owner. 5. Subject to the Government Lease, every 2.5 Every Owner shall have the full right and liberty without reference to the other Owners Owner or other persons person who may be interested in any other Undivided Share or Shares Share(s) in any way whatsoever and without the necessity of making such other Owners Owner or other persons person a party to the transaction to sell, assign, mortgage, charge, lease, license or otherwise dispose of or deal with his Undivided Shares Share(s) or interest of and in the Land and the Development together with the sole and exclusive right and privilege to hold, use, occupy and enjoy such part or parts part(s) of the Development which may be held therewith PROVIDED THAT THAT: - (a) any such sale, assignment, mortgage, lease or licence transaction shall be made expressly subject to and with the benefit of this Deed; and (b) the Residential Car Parking Spaces and the Residential Motor Cycle Parking Spaces shall not be: - (i) assigned except: - (I) together with Undivided Shares giving the right of exclusive use and possession of a Residential Unit; or (II) to a person who is already the Owner of Undivided Shares in the Land and the Development with the right of exclusive use and possession of a Residential Unit; or (ii) underlet except to residents of the Residential Units PROVIDED THAT in any event not more than three (3) in number of the total of the Residential Car Parking Spaces and the Residential Motor Cycle Parking Spaces shall be assigned to the Owner or underlet to the resident of any one Residential Unit. 6. (a) The sole and exclusive right and privilege to the exclusive hold, use, occupation occupy and enjoyment of enjoy any part of the Lot or the Development shall not be sold, assigned, mortgaged, charged, leased or otherwise dealt with separately from the Undivided Share Share(s) with which the same is held PROVIDED ALWAYS THAT that the provisions of this Clause Clause, subject to the Government Grant, do not extend to any lease or tenancy in respect of any Unit or part of the Land and the Development with a term not exceeding ten (10) years in the aggregate including any right of renewal. (b) The right to the exclusive use, occupation and enjoyment of (if any) balcony, and utility platform appertaining to a Residential Unit shall not restrict the leasing be sold, assigned, mortgaged, charged, leased or licensing of any Unitotherwise dealt with separately from a Residential Unit with which (if any) such balcony and utility platform are held. (a) Every Owner, his tenants, servants, agents, invitees invitees, visitors and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Development Estate Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the samehis Unit. (b) Every Owner with the exclusive right and privilege to holdof a Residential Unit, use, occupy and enjoy any Residential Unit together with his tenants, servants, agents, invitees invitees, visitors and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Residential Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the samehis Residential Unit. (c) Every Owner shall at his own cost and expense be responsible for:- (i) the cleaning, repair, maintenance and replacement of all the windows of his Unit (including, in respect of any Residential Unit and for the avoidance of doubt, the openable window installed in or to any part of the Curtain Wall enclosing his Unit). In respect of the repair, maintenance and replacement of the openable windows install in or to any part of the Curtain Wall enclosing a Residential Unit, his tenants, servants, agents, invitees, visitors and licensees shall have the Owner shall only engage contractors nominated full right and approved by liberty (in common with the Manager and others having like rights) to carry out such works. In respect of go pass and xxxxxx over and along and to use the replacement of the openable windows install in or to any part of the Curtain Wall enclosing his Unit, the Owner shall in addition use such materials as approved by the Manager; and (ii) cleaning of the internal surfaces of the Curtain Wall (including the openable windows Carpark Common Areas and non-openable windows installed therein or thereto) enclosing his Unit. (d) In respect of the cleaning, repair, maintenance Facilities and replacement of the Curtain Wall enclosing the Commercial Accommodation, the Owner(s) of the Commercial Accommodation shall only engage contractors nominated and approved by the Manager to carry out such works. In respect of the replacement of any part of the Curtain Wall enclosing Commercial Accommodation, the Owner(s) of the Commercial Accommodation shall in addition use such materials as approved by the Manager. (e) The Owners of Units shall not object, and shall render full cooperation, to the Manager for the purpose of cleaning the external surfaces of, and carrying out any works all purposes connected with regards to, the Curtain Wall of the Development. For the avoidance of doubt, the Manager shall not be responsible for (i) the cleaning, repair, maintenance or replacement of any openable window installed in or to any part of the Curtain Wall which forms part of a Residential Unit which shall be the relevant Owner’s responsibility. (f) The following provisions shall apply to the Owner(s) of the Commercial Accommodation :- (i) Notwithstanding anything herein contained and without prejudice or any limitation to the rights reserved to the First Owner under this Deed, the Owner of the Commercial Accommodation (or Owners in accordance with the provisions in the relevant Sub-Deed (if any) in respect of the Commercial Accommodation) shall have the right to affix, erect, maintain, alter, renew, service, repair, replace and remove signs, signboards (illuminated or otherwise), advertisements, lightings, banners, posters or placards or other things or structures or visual images of whatsoever kind, size and description on the exterior or interior of the external walls and Curtain Wall (if any) enclosing the Commercial Accommodation or any part thereof for the purpose of advertising or otherwise and to grant the right to do so to any person PROVIDED HOWEVER THAT any such things, structures or visual images shall not, in the opinion of the Manager, unreasonably interfere with the use and enjoyment by other Owners of the parts of the Development owned by them and/or adversely affect the external appearance of the Development, and the opinion of the Manager in this respect shall be final and conclusive; and (ii) The sole Owner of the Commercial Accommodation shall have the right to enter into a Sub-Deed in respect of the Commercial Accommodation (the “Commercial Sub-DMC”) for the purpose of (i) allocating Undivided Shares to the Unit(s) within the Commercial Accommodation as common areas and common services and facilities for the common use and benefit of the Owners, occupiers and invitees of the Commercial Accommodation and allocate Undivided Shares thereto and (iii) making further provisions for the management, maintenance and servicing of the Commercial Accommodation and its equipment, services and apparatus and for the purpose of further defining and regulating the rights, interests and obligations of the Owners thereof Provided that the provisions of the Commercial Sub- DMC shall not conflict with the provisions of this Deed and shall not adversely affect or prejudice the rights, interests or obligations of the other Owners of the Development (other than the Owners of the Commercial Accommodation) under this Deed or any other previous Sub-Deed(s). (iii) The Owner(s) of the Commercial Accommodation shall have the right to have free and uninterrupted passage and running of electricity and various other services (if any) from and to the Curtain Wall forming part of the Commercial Accommodation (if any) through the ducts, cables, pipes, wires and other conducting media which now are or may at any time hereafter be in, under or passing through the Lot and the Development (including the Common Areas and Facilities) or any part or parts thereof for the proper use and enjoyment of the Curtain Walls forming part of Visitors’ Parking Spaces, the Commercial Accommodation (if any)Car Parking Spaces for Disabled Persons, the Residential Loading and Unloading Bay, the Residential Common Areas and Facilities and the Estate Common Areas and Facilities. (ivd) Each The Owner of the Commercial Accommodation, his tenants, servants, agents, invitees invitees, visitors and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the relevant part or parts of Residential Commercial Common Areas and Facilities and the Carpark Common Areas and Facilities for all purposes connected with the following purposes only:-proper use and enjoyment of the Commercial Accommodation, the Commercial Loading and Unloading Bays and the Estate Common Areas and Facilities. (1e) fire escape or in cases of emergency provided that the relevant The Owner of the Commercial Accommodation Accommodation, his tenants, servants, agents, invitees, visitors and licensees shall make good any damage have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Residential Common Areas and Facilities caused thereby; and (2) on the 3rd floor of the Development for the purpose of gaining access to relevant accessing the A/C decks and the common flat roofs (accessible through gondola for maintenance) (forming part or parts of the Development Commercial Accommodation and the Commercial Common Areas and Facilities respectively) on the 3rd floor of the Development. (f) Every Owner of a Parking Space, his tenants, servants, agents, invitees, visitors and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Carpark Common Areas and Facilities and the Estate Common Areas and Facilities for all purposes connected with the proper use and enjoyment of his part of the Land and Development if and only if (A) there is no other practicable means to enter into such part or parts of the Development Common Areas and Facilities and (B) where access to such part or parts of the Residential Common Areas and Facilities for such is unavoidable, and PROVIDED THAT such access shall be subject to such restrictions (including, without limitation, those in relation to the time and routing of such access) as may be imposed by the ManagerParking Space. (g) Upon execution In each of the above cases the right and liberty shall be subject to the provisions of this Deed or any Sub-Deed, the First Owner shall assign to rights of the Manager free of costs or consideration and the whole of the Undivided Shares allocated to the Common Areas and Facilities under this Deed subject to and with the benefit of the Government Lease and this Deed. Such Undivided Shares together with the right to hold, use, occupy and enjoy the Common Areas and Facilities shall be held by the Manager as trustee for the benefit of all the Owners for the time being and in the event the Manager shall resign or be dismissed or wound up or a receiving order made against it and another manager appointed in its stead in accordance with these presents, then the Manager or the liquidator or the receiver (as the case may be) shall assign free of costs or consideration such Undivided Shares to the new manager upon the same trust PROVIDED THAT if an Owners’ Corporation is formed under the Building Management Ordinance it may require the Manager for the time being or its liquidator or receiver (as the case may be) to assign such Undivided Shares and transfer the management responsibility to it free of costs or consideration and in which event the Manager shall assign free of costs the Undivided Shares in respect of the Common Areas and Facilities and transfer free of costs the management responsibility to the Owners’ Corporation which shall hold such Undivided Shares on trust for the benefit of all the OwnersEstate Rules.

Rights and Obligations of Owners. 1. The First Owner shall at all times hereafter subject to and with the benefit of the Government Lease Grant and this Deed (and the Debenture insofar as it is subsisting) have the sole and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Assignee Second Owner the whole of the Lot and the Development Estate together with the appurtenances thereto and the entire rents and profits thereof SAVE AND EXCEPT the First Assignee’s Second Owner's Unit assigned to the First Assignee Second Owner as aforesaid and the Common Areas and Facilities and SUBJECT TO the rights and privileges granted to the First Assignee Second Owner by the said Assignment referred to in paragraph (E) of the Recitals above and AND SUBJECT TO the provisions of this DeedDeed so far as they are still subsisting. 2. The First Assignee Second Owner shall at all times hereafter subject to and with the benefit of the Government Lease Grant and these presents this Deed have the full and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Owner the First Assignee’s Second Owner's Unit assigned to the First Assignee Second Owner by the said Assignment referred to in paragraph (E) of the Recitals above together with the appurtenances thereto and the entire rents and profits thereof. 3. Each Undivided Share and the full and exclusive right and privilege to hold, use, occupy and enjoy a Unit or any part of the Development Estate and to receive rents and profits therefrom shall be held by the person Owner or persons Owners from time to time entitled thereto subject to and with the benefit of the rights and privileges provided in the SECOND SCHEDULE hereto and the express covenants and provisions herein contained. 4. The Owner or Owners for the time being of each Undivided Share (including the First Owner) shall at all times hereafter be bound by and shall observe and perform the covenants, provisions and restrictions contained herein and in the THIRD SCHEDULE hereto and such Owner shall comply with the House Rules from time to time in force so far as the same are binding on relate to such OwnerUndivided Share held by him or them. 5. Subject to the Government LeaseGrant and this Deed, every Owner shall have the full right and liberty without reference to the other Owners or other persons who may be interested in any other Undivided Share or Shares in any way whatsoever and without the necessity of making such other Owners or other persons a party to the transaction to sell, assign, mortgage, charge, lease, license or otherwise dispose of or deal with his Undivided Shares together with the exclusive right and privilege to hold, use, occupy and enjoy such Unit or part or parts of the Development Estate which may be held therewith PROVIDED THAT any such sale, assignment, mortgage, charge, lease or licence shall be made expressly subject to and with the benefit of the Government Grant and this Deed. 6. (a) The right to the exclusive use, occupation and enjoyment of any Unit or part of the Lot or and the Development Estate shall not be sold, assigned, mortgaged, charged, leased or otherwise dealt with separately from the Undivided Share with which the same is held PROVIDED ALWAYS THAT the provisions of this Clause shall, subject to the Government Grant, not extend to leases or tenancies in respect of any Unit or part of the Lot and the Estate the terms of which (including any renewals thereof) shall not restrict exceed ten (10) years. (b) The right to the leasing exclusive use, occupation and enjoyment of a flat roof, roof, upper roof, garden, Non-enclosed Area shall not be sold, assigned, mortgaged, charged, leased or licensing otherwise dealt with separately from the Residential Unit with which the flat roof, roof, garden the Non-enclosed Area is held. (c) The right to the exclusive use, occupation and enjoyment of a Residential Unit shall not be sold, assigned, mortgaged, charged, leased or disposed of except as a whole to the intent that each Residential Unit shall be owned occupied or used as a single residence. (d) The right to the exclusive use, occupation and enjoyment of a Parking Space shall not be sold or assigned except (i) together with Undivided Shares giving the right of the exclusive use and possession of a Residential Unit or Units; or (ii) to a person who is already an Owner of Undivided Shares together with the right of the exclusive use possession of a Residential Unit and Provided that not more than three (3) Parking Spaces shall be sold or assigned to the Owner of any one Residential Unit. For the avoidance of doubt, until sale or assignment, the First Owner may own and hold more than three (3) Parking Spaces. (e) No Parking Space shall be let except to a resident of a Residential Unit and Provided that not more than three (3) Parking Spaces shall be let to the resident of any one Residential Unit. (f) The Residential Parking Spaces shall not be used otherwise than for the purpose of parking motor vehicles licensed under the Road Traffic Ordinance, any regulations made thereunder and any amending legislation, and belonging to the residents of the Residential Units and their bona fide guests, visitors or invitees in accordance with the Government Grant. (g) The Motor Cycle Parking Spaces shall not be used otherwise than for the purpose of parking motor cycles licensed under the Road Traffic Ordinance, any regulations made thereunder and any amending legislation, and belonging to the residents of the Residential Units and their bona fide guests, visitors or invitees. (h) The Visitors’ Parking Spaces shall not be used otherwise than for the purpose of parking motor vehicles licensed under the Road Traffic Ordinance, any regulations made thereunder and any amending legislation, and belonging to the bona fide guests, visitors or invitees of the residents of the Residential Units. (a) Every Owner, his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Development Estate Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the same. (b) Every The Owner with the exclusive right and privilege to hold, use, occupy and enjoy of any Residential Unit Apartment Flat together with his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Apartment Common Areas and Facilities and the Residential Development Common Areas and Facilities, for all purposes connected with the proper use and enjoyment of the same. (c) The Owner of any House together with his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the House Common Areas and Facilities and the Residential Development Common Areas and Facilities, for all purposes connected with the proper use and enjoyment of the same. (d) The Owner of any Residential Units together with his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Car Park Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the Visitors’ Parking Spaces subject to payment of the Car Park Management Expenses in an appropriate proportion as the Manager may reasonably and properly determine. (e) The Owner of any Parking Space together with his tenants, servants, agents, invitees and licensees and person or persons authorised by the Manager shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Car Park Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the same. (f) The right and liberty set out in sub-clauses (a), (b), (c) Every Owner shall at his own cost and expense be responsible for:- (i) the cleaning), repair, maintenance and replacement of all the windows of his Unit (including, in respect of any Residential Unit and for the avoidance of doubt, the openable window installed in or to any part of the Curtain Wall enclosing his Unit). In respect of the repair, maintenance and replacement of the openable windows install in or to any part of the Curtain Wall enclosing a Residential Unit, the Owner shall only engage contractors nominated and approved by the Manager to carry out such works. In respect of the replacement of the openable windows install in or to any part of the Curtain Wall enclosing his Unit, the Owner shall in addition use such materials as approved by the Manager; and (ii) cleaning of the internal surfaces of the Curtain Wall (including the openable windows and non-openable windows installed therein or thereto) enclosing his Unit. (d) In respect of the cleaning, repair, maintenance and replacement of the Curtain Wall enclosing the Commercial Accommodation, the Owner(s) of the Commercial Accommodation shall only engage contractors nominated and approved by the Manager to carry out such works. In respect of the replacement of any part of the Curtain Wall enclosing Commercial Accommodation, the Owner(s) of the Commercial Accommodation shall in addition use such materials as approved by the Manager. (e) The Owners of Units shall not object, and shall render full cooperation, to the Manager for the purpose of cleaning the external surfaces of, and carrying out any works with regards to, the Curtain Wall of the Development. For the avoidance of doubt, the Manager shall not be responsible for (i) the cleaning, repair, maintenance or replacement of any openable window installed in or to any part of the Curtain Wall which forms part of a Residential Unit which shall be the relevant Owner’s responsibility. (f) The following provisions shall apply to the Owner(s) of the Commercial Accommodation :- (i) Notwithstanding anything herein contained and without prejudice or any limitation to the rights reserved to the First Owner under this Deed, the Owner of the Commercial Accommodation (or Owners in accordance with the provisions in the relevant Sub-Deed (if any) in respect of the Commercial Accommodation) shall have the right to affix, erect, maintain, alter, renew, service, repair, replace and remove signs, signboards (illuminated or otherwise), advertisements, lightings, banners, posters or placards or other things or structures or visual images of whatsoever kind, size and description on the exterior or interior of the external walls and Curtain Wall (if any) enclosing the Commercial Accommodation or any part thereof for the purpose of advertising or otherwise and to grant the right to do so to any person PROVIDED HOWEVER THAT any such things, structures or visual images shall not, in the opinion of the Manager, unreasonably interfere with the use and enjoyment by other Owners of the parts of the Development owned by them and/or adversely affect the external appearance of the Development, and the opinion of the Manager in this respect shall be final and conclusive; and (ii) The sole Owner of the Commercial Accommodation shall have the right to enter into a Sub-Deed in respect of the Commercial Accommodation (the “Commercial Sub-DMC”) for the purpose of (i) allocating Undivided Shares to the Unit(s) within the Commercial Accommodation as common areas and common services and facilities for the common use and benefit of the Owners, occupiers and invitees of the Commercial Accommodation and allocate Undivided Shares thereto and (iii) making further provisions for the management, maintenance and servicing of the Commercial Accommodation and its equipment, services and apparatus and for the purpose of further defining and regulating the rights, interests and obligations of the Owners thereof Provided that the provisions of the Commercial Sub- DMC shall not conflict with the provisions of this Deed and shall not adversely affect or prejudice the rights, interests or obligations of the other Owners of the Development (other than the Owners of the Commercial Accommodation) under this Deed or any other previous Sub-Deed(s). (iii) The Owner(s) of the Commercial Accommodation shall have the right to have free and uninterrupted passage and running of electricity and various other services (if any) from and to the Curtain Wall forming part of the Commercial Accommodation (if any) through the ducts, cables, pipes, wires and other conducting media which now are or may at any time hereafter be in, under or passing through the Lot and the Development (including the Common Areas and Facilities) or any part or parts thereof for the proper use and enjoyment of the Curtain Walls forming part of the Commercial Accommodation (if any). (iv) Each Owner of the Commercial Accommodation, his tenants, servants, agents, invitees and licensees shall have the right to go pass and xxxxxx over and along the relevant part or parts of Residential Common Areas and Facilities for the following purposes only:- (1) fire escape or in cases of emergency provided that the relevant Owner of the Commercial Accommodation shall make good any damage to the Residential Common Areas and Facilities caused thereby; and (2) for the purpose of gaining access to relevant part or parts of the Development Common Areas and Facilities for purposes connected with the proper use and enjoyment of his part of the Land and Development if and only if (A) there is no other practicable means to enter into such part or parts of the Development Common Areas and Facilities and (B) where access to such part or parts of the Residential Common Areas and Facilities for such is unavoidable, and PROVIDED THAT such access above shall be subject to such restrictions (including, without limitation, those in relation to the time and routing of such access) as may be imposed by the Manager. (g) Upon execution provisions of this Deed, the First Owner shall assign to rights of the Manager free of costs or consideration and the whole of the Undivided Shares allocated to the Common Areas and Facilities under this Deed subject to and with the benefit of the Government Lease and this Deed. Such Undivided Shares together with the right to hold, use, occupy and enjoy the Common Areas and Facilities shall be held by the Manager as trustee for the benefit of all the Owners for the time being and in the event the Manager shall resign or be dismissed or wound up or a receiving order made against it and another manager appointed in its stead in accordance with these presents, then the Manager or the liquidator or the receiver (as the case may be) shall assign free of costs or consideration such Undivided Shares to the new manager upon the same trust PROVIDED THAT if an Owners’ Corporation is formed under the Building Management Ordinance it may require the Manager for the time being or its liquidator or receiver (as the case may be) to assign such Undivided Shares and transfer the management responsibility to it free of costs or consideration and in which event the Manager shall assign free of costs the Undivided Shares in respect of the Common Areas and Facilities and transfer free of costs the management responsibility to the Owners’ Corporation which shall hold such Undivided Shares on trust for the benefit of all the OwnersEstate Rules relating thereto.

Rights and Obligations of Owners. 1. The First Owner shall at all times hereafter subject to and with the benefit of the Government Lease Grant and this Deed have the sole and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Assignee the whole of the Lot and the Development Estate together with the appurtenances thereto and the entire rents and profits thereof SAVE AND EXCEPT the First Assignee’s 's Unit assigned to the First Assignee as aforesaid and the Common Areas and Facilities and SUBJECT TO the rights and privileges granted to the First Assignee by the said Assignment referred to in paragraph (E) of the Recitals above and AND SUBJECT TO the provisions of this DeedDeed so far as they are still subsisting. 2. The First Assignee shall at all times hereafter subject to and with the benefit of the Government Lease Grant and these presents this Deed have the full and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Owner the First Assignee’s 's Unit assigned to the First Assignee by the said Assignment referred to in paragraph (E) of the Recitals above together with the appurtenances thereto and the entire rents and profits thereof. 3. Each Undivided Share and the full and exclusive right and privilege to hold, use, occupy and enjoy a Unit or any part of the Development Estate and to receive rents and profits therefrom shall be held by the person Owner or persons Owners from time to time entitled thereto subject to and with the benefit of the rights and privileges provided in the SECOND SCHEDULE hereto and the express covenants and provisions herein contained. 4. The Owner or Owners for the time being (including the First Owner) of each Undivided Share shall at all times hereafter be bound by and shall observe and perform the covenants, provisions and restrictions contained herein and in the THIRD SCHEDULE hereto and such Owner shall comply with the House Rules from time to time in force so far as the same are binding on relate to such OwnerUndivided Share held by him or them. 5. Subject to the Government LeaseGrant and this Deed, every Owner shall have the full right and liberty without reference to the other Owners or other persons who may be interested in any other Undivided Share or Shares in any way whatsoever and without the necessity of making such other Owners or other persons a party to the transaction to sell, assign, mortgage, charge, lease, license or otherwise dispose of or deal with his Undivided Shares together with the exclusive right and privilege to hold, use, occupy and enjoy such Unit or part or parts of the Development Estate which may be held therewith PROVIDED THAT any such sale, assignment, mortgage, charge, lease or licence shall be made expressly subject to and with the benefit of this Deed. 6. (a) The right to the exclusive use, occupation and enjoyment of any Unit or part of the Lot or and the Development Estate shall not be sold, assigned, mortgaged, charged, leased charged or otherwise dealt with separately from the Undivided Share with which the same is held PROVIDED ALWAYS THAT the provisions of this Clause shall, subject to the Government Grant, not extend to leases or tenancies or licences in respect of any Unit or part of the Lot and the Estate. (b) The right to the exclusive use, occupation and enjoyment of a roof and/or a flat roof, if any, shall not restrict be sold, assigned, mortgaged, charged, leased or otherwise dealt with separately from the leasing Residential Unit with which the roof and/or the flat roof is held. (c) The right to the exclusive use, occupation and enjoyment of an air-conditioning plant room and/or an open yard, if any, shall not be sold, assigned, mortgaged, charged, leased or licensing otherwise dealt with separately from (upon execution of any Unita Sub-Deed in respect of the Commercial Development) a Unit in the Commercial Development with which the air-conditioning plant room and/or the open yard is held. (a) Every Owner, his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Development Estate Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the samehis Unit. (b) Every The Owner with the exclusive right and privilege to hold, use, occupy and enjoy of any Residential Unit together with his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Residential Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the same. (c) Every Owner shall at his own cost and expense be responsible for:- (i) In each of the cleaning, repair, maintenance and replacement of all the windows of his Unit (including, in respect of any Residential Unit and for the avoidance of doubtabove cases, the openable window installed in or to any part of the Curtain Wall enclosing his Unit). In respect of the repair, maintenance right and replacement of the openable windows install in or to any part of the Curtain Wall enclosing a Residential Unit, the Owner shall only engage contractors nominated and approved by the Manager to carry out such works. In respect of the replacement of the openable windows install in or to any part of the Curtain Wall enclosing his Unit, the Owner shall in addition use such materials as approved by the Manager; and (ii) cleaning of the internal surfaces of the Curtain Wall (including the openable windows and non-openable windows installed therein or thereto) enclosing his Unit. (d) In respect of the cleaning, repair, maintenance and replacement of the Curtain Wall enclosing the Commercial Accommodation, the Owner(s) of the Commercial Accommodation shall only engage contractors nominated and approved by the Manager to carry out such works. In respect of the replacement of any part of the Curtain Wall enclosing Commercial Accommodation, the Owner(s) of the Commercial Accommodation shall in addition use such materials as approved by the Manager. (e) The Owners of Units shall not object, and shall render full cooperation, to the Manager for the purpose of cleaning the external surfaces of, and carrying out any works with regards to, the Curtain Wall of the Development. For the avoidance of doubt, the Manager shall not be responsible for (i) the cleaning, repair, maintenance or replacement of any openable window installed in or to any part of the Curtain Wall which forms part of a Residential Unit which shall be the relevant Owner’s responsibility. (f) The following provisions shall apply to the Owner(s) of the Commercial Accommodation :- (i) Notwithstanding anything herein contained and without prejudice or any limitation to the rights reserved to the First Owner under this Deed, the Owner of the Commercial Accommodation (or Owners in accordance with the provisions in the relevant Sub-Deed (if any) in respect of the Commercial Accommodation) shall have the right to affix, erect, maintain, alter, renew, service, repair, replace and remove signs, signboards (illuminated or otherwise), advertisements, lightings, banners, posters or placards or other things or structures or visual images of whatsoever kind, size and description on the exterior or interior of the external walls and Curtain Wall (if any) enclosing the Commercial Accommodation or any part thereof for the purpose of advertising or otherwise and to grant the right to do so to any person PROVIDED HOWEVER THAT any such things, structures or visual images shall not, in the opinion of the Manager, unreasonably interfere with the use and enjoyment by other Owners of the parts of the Development owned by them and/or adversely affect the external appearance of the Development, and the opinion of the Manager in this respect shall be final and conclusive; and (ii) The sole Owner of the Commercial Accommodation shall have the right to enter into a Sub-Deed in respect of the Commercial Accommodation (the “Commercial Sub-DMC”) for the purpose of (i) allocating Undivided Shares to the Unit(s) within the Commercial Accommodation as common areas and common services and facilities for the common use and benefit of the Owners, occupiers and invitees of the Commercial Accommodation and allocate Undivided Shares thereto and (iii) making further provisions for the management, maintenance and servicing of the Commercial Accommodation and its equipment, services and apparatus and for the purpose of further defining and regulating the rights, interests and obligations of the Owners thereof Provided that the provisions of the Commercial Sub- DMC shall not conflict with the provisions of this Deed and shall not adversely affect or prejudice the rights, interests or obligations of the other Owners of the Development (other than the Owners of the Commercial Accommodation) under this Deed or any other previous Sub-Deed(s). (iii) The Owner(s) of the Commercial Accommodation shall have the right to have free and uninterrupted passage and running of electricity and various other services (if any) from and to the Curtain Wall forming part of the Commercial Accommodation (if any) through the ducts, cables, pipes, wires and other conducting media which now are or may at any time hereafter be in, under or passing through the Lot and the Development (including the Common Areas and Facilities) or any part or parts thereof for the proper use and enjoyment of the Curtain Walls forming part of the Commercial Accommodation (if any). (iv) Each Owner of the Commercial Accommodation, his tenants, servants, agents, invitees and licensees shall have the right to go pass and xxxxxx over and along the relevant part or parts of Residential Common Areas and Facilities for the following purposes only:- (1) fire escape or in cases of emergency provided that the relevant Owner of the Commercial Accommodation shall make good any damage to the Residential Common Areas and Facilities caused thereby; and (2) for the purpose of gaining access to relevant part or parts of the Development Common Areas and Facilities for purposes connected with the proper use and enjoyment of his part of the Land and Development if and only if (A) there is no other practicable means to enter into such part or parts of the Development Common Areas and Facilities and (B) where access to such part or parts of the Residential Common Areas and Facilities for such is unavoidable, and PROVIDED THAT such access liberty shall be subject to such restrictions (including, without limitation, those in relation to the time and routing of such access) as may be imposed by the Manager. (g) Upon execution provisions of this Deed, the First Owner shall assign to rights of the Manager free of costs or consideration and the whole of the Undivided Shares allocated to the Common Areas and Facilities under this Deed subject to and with the benefit of the Government Lease and this Deed. Such Undivided Shares together with the right to hold, use, occupy and enjoy the Common Areas and Facilities shall be held by the Manager as trustee for the benefit of all the Owners for the time being and in the event the Manager shall resign or be dismissed or wound up or a receiving order made against it and another manager appointed in its stead in accordance with these presents, then the Manager or the liquidator or the receiver (as the case may be) shall assign free of costs or consideration such Undivided Shares to the new manager upon the same trust PROVIDED THAT if an Owners’ Corporation is formed under the Building Management Ordinance it may require the Manager for the time being or its liquidator or receiver (as the case may be) to assign such Undivided Shares and transfer the management responsibility to it free of costs or consideration and in which event the Manager shall assign free of costs the Undivided Shares in respect of the Common Areas and Facilities and transfer free of costs the management responsibility to the Owners’ Corporation which shall hold such Undivided Shares on trust for the benefit of all the OwnersEstate Rules relating thereto.

Rights and Obligations of Owners. 1. 2.1 The First Owner shall at all times hereafter hereafter, subject to and with the benefit of the Government Lease Grant and this Deed, have the sole and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Assignee the whole of the Lot Land and the Development together with the appurtenances thereto and the entire rents and profits thereof SAVE AND EXCEPT the First Assignee’s Unit assigned to the First Assignee as aforesaid and SUBJECT TO the rights and privileges granted to the First Assignee by the aforesaid Assignment referred to in paragraph (E) of the Recitals above and SUBJECT TO the provisions of this DeedDeed and any Sub-Deed(s). 2. 2.2 The First Assignee shall at all times hereafter subject to and with the benefit of the Government Lease Grant, this Deed and these presents any Sub-Deed(s) have the full and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Owner the First Assignee’s Unit assigned to the First Assignee by the said Assignment referred to in paragraph (E) of the Recitals above together with the appurtenances thereto and the entire rents and profits thereof. 3. 2.3 Each Undivided Share and the full sole and exclusive right and privilege to hold, use, occupy and enjoy any part of the Development and to receive rents and profits therefrom shall be held by the person or persons from time to time entitled thereto subject to and with the benefit of the rights and privileges provided in the SECOND SCHEDULE hereto and the express covenants and provisions herein contained. 4. 2.4 The Owner or Owners for the time being of each Undivided Share shall at all times hereafter be bound by and shall observe and perform the covenants, provisions and restrictions contained herein and in the THIRD SCHEDULE hereto so far as the same relate to such Undivided Share held by him or them, and such Owner shall comply with the House Estate Rules from time to time in force so far as the same are binding on such Owner. 5. 2.5 Subject to the Government LeaseGrant, this Deed and any Sub-Deed(s), every Owner shall have the full right and liberty without reference to the other Owners or other persons who may be interested in any other Undivided Share or Shares in any way whatsoever and without the necessity of making such other Owners or other persons a party to the transaction to sell, assign, mortgage, charge, lease, license or otherwise dispose of or deal with his Undivided Shares or interest of and in the Land and the Development, together with the exclusive right and privilege to hold, use, occupy and enjoy such part or parts of the Development which may be held therewith PROVIDED THAT THAT: - (a) any such sale, assignment, mortgage, lease or licence shall be made expressly subject to and with the benefit of this Deed; and (b) the Parking Spaces shall not be: - (i) assigned except (I) together with Undivided Shares giving the right of exclusive use and possession of a Residential Unit; or (II) to a person who is already the Owner of Undivided Shares in the Land and the Development with the right of exclusive use and possession of a Residential Unit; or (ii) underlet except to residents of the Residential Units PROVIDED THAT in any event not more than three (3) in number of the total of the Residential Car Parking Spaces, the House Car Parking Spaces and the Residential Motor Cycle Parking Spaces shall be assigned to the Owner or underlet to the resident of any one Residential Unit. 6. (a) The right to the exclusive use, occupation and enjoyment of any part of the Lot Land or the Development shall not be sold, assigned, mortgaged, charged, leased or otherwise dealt with separately from the Undivided Share with which the same is held PROVIDED ALWAYS THAT the provisions of this Clause shall shall, subject to the Government Grant, not restrict the leasing extend to leases or licensing of any Unit. (a) Every Owner, his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Development Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the same. (b) Every Owner with the exclusive right and privilege to hold, use, occupy and enjoy any Residential Unit together with his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Residential Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the same. (c) Every Owner shall at his own cost and expense be responsible for:- (i) the cleaning, repair, maintenance and replacement of all the windows of his Unit (including, tenancies in respect of any Residential Unit and for the avoidance of doubt, the openable window installed in or to any part of the Curtain Wall enclosing his Unit). In respect of the repair, maintenance and replacement of the openable windows install in or to any part of the Curtain Wall enclosing a Residential Unit, the Owner shall only engage contractors nominated and approved by the Manager to carry out such works. In respect of the replacement of the openable windows install in or to any part of the Curtain Wall enclosing his Unit, the Owner shall in addition use such materials as approved by the Manager; and (ii) cleaning of the internal surfaces of the Curtain Wall (including the openable windows and non-openable windows installed therein or thereto) enclosing his Unit. (d) In respect of the cleaning, repair, maintenance and replacement of the Curtain Wall enclosing the Commercial Accommodation, the Owner(s) of the Commercial Accommodation shall only engage contractors nominated and approved by the Manager to carry out such works. In respect of the replacement of any part of the Curtain Wall enclosing Commercial Accommodation, the Owner(s) of the Commercial Accommodation shall in addition use such materials as approved by the Manager. (e) The Owners of Units shall not object, and shall render full cooperation, to the Manager for the purpose of cleaning the external surfaces of, and carrying out any works with regards to, the Curtain Wall of the Development. For the avoidance of doubt, the Manager shall not be responsible for (i) the cleaning, repair, maintenance or replacement of any openable window installed in or to any part of the Curtain Wall which forms part of a Residential Unit which shall be the relevant Owner’s responsibility. (f) The following provisions shall apply to the Owner(s) of the Commercial Accommodation :- (i) Notwithstanding anything herein contained and without prejudice or any limitation to the rights reserved to the First Owner under this Deed, the Owner of the Commercial Accommodation (or Owners in accordance with the provisions in the relevant Sub-Deed (if any) in respect of the Commercial Accommodation) shall have the right to affix, erect, maintain, alter, renew, service, repair, replace and remove signs, signboards (illuminated or otherwise), advertisements, lightings, banners, posters or placards or other things or structures or visual images of whatsoever kind, size and description on the exterior or interior of the external walls and Curtain Wall (if any) enclosing the Commercial Accommodation or any part thereof for the purpose of advertising or otherwise and to grant the right to do so to any person PROVIDED HOWEVER THAT any such things, structures or visual images shall not, in the opinion of the Manager, unreasonably interfere with the use and enjoyment by other Owners of the parts of the Development owned by them and/or adversely affect the external appearance of the Development, and the opinion of the Manager in this respect shall be final and conclusive; and (ii) The sole Owner of the Commercial Accommodation shall have the right to enter into a Sub-Deed in respect of the Commercial Accommodation (the “Commercial Sub-DMC”) for the purpose of (i) allocating Undivided Shares to the Unit(s) within the Commercial Accommodation as common areas and common services and facilities for the common use and benefit of the Owners, occupiers and invitees of the Commercial Accommodation and allocate Undivided Shares thereto and (iii) making further provisions for the management, maintenance and servicing of the Commercial Accommodation and its equipment, services and apparatus and for the purpose of further defining and regulating the rights, interests and obligations of the Owners thereof Provided that the provisions of the Commercial Sub- DMC shall not conflict with the provisions of this Deed and shall not adversely affect or prejudice the rights, interests or obligations of the other Owners of the Development (other than the Owners of the Commercial Accommodation) under this Deed or any other previous Sub-Deed(s). (iii) The Owner(s) of the Commercial Accommodation shall have the right to have free and uninterrupted passage and running of electricity and various other services (if any) from and to the Curtain Wall forming part of the Commercial Accommodation (if any) through the ducts, cables, pipes, wires and other conducting media which now are or may at any time hereafter be in, under or passing through the Lot and the Development (including the Common Areas and Facilities) or any part or parts thereof for the proper use and enjoyment of the Curtain Walls forming part of the Commercial Accommodation (if any). (iv) Each Owner of the Commercial Accommodation, his tenants, servants, agents, invitees and licensees shall have the right to go pass and xxxxxx over and along the relevant part or parts of Residential Common Areas and Facilities for the following purposes only:- (1) fire escape or in cases of emergency provided that the relevant Owner of the Commercial Accommodation shall make good any damage to the Residential Common Areas and Facilities caused thereby; and (2) for the purpose of gaining access to relevant part or parts of the Development Common Areas and Facilities for purposes connected with the proper use and enjoyment of his part of the Land and Development if and only if (A) there is no other practicable means to enter into such part or parts of the Development Common Areas and Facilities and (B) where access to such part or parts the terms of the Residential Common Areas and Facilities for such is unavoidable, and PROVIDED THAT such access shall be subject to such restrictions (including, without limitation, those in relation to the time and routing of such access) as may be imposed by the Manager. (g) Upon execution of this Deed, the First Owner shall assign to the Manager free of costs or consideration the whole of the Undivided Shares allocated to the Common Areas and Facilities under this Deed subject to and with the benefit of the Government Lease and this Deed. Such Undivided Shares together with the right to hold, use, occupy and enjoy the Common Areas and Facilities shall be held by the Manager as trustee for the benefit of all the Owners for the time being and in the event the Manager shall resign or be dismissed or wound up or a receiving order made against it and another manager appointed in its stead in accordance with these presents, then the Manager or the liquidator or the receiver (as the case may be) shall assign free of costs or consideration such Undivided Shares to the new manager upon the same trust PROVIDED THAT if an Owners’ Corporation is formed under the Building Management Ordinance it may require the Manager for the time being or its liquidator or receiver (as the case may be) to assign such Undivided Shares and transfer the management responsibility to it free of costs or consideration and in which event the Manager shall assign free of costs the Undivided Shares in respect of the Common Areas and Facilities and transfer free of costs the management responsibility to the Owners’ Corporation which shall hold such Undivided Shares on trust for the benefit of all the Owners.not exceed ten

Rights and Obligations of Owners. 1. 2.1 The First Owner shall at all times hereafter hereafter, subject to and with the benefit of the Government Lease Grant, have the sole and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Assignee the whole of the Lot Land and the Development together with the appurtenances thereto and the entire rents and profits thereof SAVE AND EXCEPT the First Assignee’s Unit assigned to the First Assignee as aforesaid and the Common Areas and Facilities and SUBJECT TO the rights and privileges granted to the First Assignee by the aforesaid Assignment referred to in paragraph (E) of the Recitals above and SUBJECT TO the provisions of this Deed. 2. 2.2 The First Assignee shall at all times hereafter subject to and with the benefit of the Government Lease Grant and these presents have the full and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Owner the First Assignee’s Unit assigned to the First Assignee by the said Assignment referred to in paragraph (E) of the Recitals above together with the appurtenances thereto and the entire rents and profits thereof. 3. 2.3 Each Undivided Share and the full and exclusive right and privilege to hold, use, occupy and enjoy any part of the Development shall be held by the person or persons from time to time entitled thereto subject to and with the benefit of the rights rights, privileges and privileges easements provided in the SECOND SCHEDULE hereto and the express covenants and provisions herein containedhereto. 4. 2.4 The Owner or Owners for the time being of each Undivided Share shall at all times hereafter be bound by and shall observe and perform the covenants, provisions and restrictions contained herein and in the THIRD SCHEDULE hereto and such Owner shall comply with the House Development Rules from time to time in force so far as the same are binding on such Owner. 5. 2.5 Subject to the Government LeaseGrant, every Owner shall have the full right and liberty without reference to the other Owners or other persons who may be interested in any other Undivided Share or Shares in any way whatsoever and without the necessity of making such other Owners or other persons a party to the transaction to sell, assign, mortgage, lease, license or otherwise dispose of or deal with his Undivided Shares together with the exclusive right and privilege to hold, use, occupy and enjoy such part or parts of the Development which may be held therewith PROVIDED THAT THAT:- (a) any such sale, assignment, mortgage, lease or licence shall be made expressly subject to and with the benefit of this Deed; and (b) the Residential Car Parking Spaces and Residential Motor Cycle Parking Spaces shall not be:- (i) assigned except (I) together with Undivided Shares giving the right of exclusive use and possession of a Residential Unit; or (II) to a person who is already the Owner of Undivided Shares in the Land and the Development with the right of exclusive use and possession of a Residential Unit; or (ii) underlet except to residents of the Residential Units AND in any event not more than three (3) in number of the total of the Residential Car Parking Spaces and Residential Motor Cycle Parking Spaces shall be assigned to the Owner or underlet to the resident of any one Residential Unit. 6. (a) The right to the exclusive use, occupation and enjoyment of any part of the Lot Land or the Development shall not be sold, assigned, mortgaged, charged, leased or otherwise dealt with separately from the Undivided Share with which the same is held PROVIDED ALWAYS THAT the provisions of this Clause shall not restrict extend to leases or tenancies the leasing terms of which shall not exceed ten (10) years. (b) The right to the exclusive use, occupation and enjoyment of balcony, utility platform, flat roof or licensing of any Unitroof appertaining to a Residential Unit shall not be sold, assigned, mortgaged, charged, leased or otherwise dealt with separately from a Residential Unit with which such balcony, utility platform, flat roof or roof is held. (a) Every Owner, his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Development Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the samehis Unit. (b) Every Owner with the exclusive right and privilege to holdof a Residential Unit, use, occupy and enjoy any Residential Unit together with his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Residential Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the samehis Residential Unit. (c) Every Owner shall at his own cost and expense be responsible for:- (i) the cleaning, repair, maintenance and replacement of all the windows of his Unit (including, in respect of any Residential Unit and for the avoidance of doubt, the openable window installed in or to any part of the Curtain Wall enclosing his Unit). In respect of the repair, maintenance and replacement of the openable windows install in or to any part of the Curtain Wall enclosing a Residential Unit, the Owner shall only engage contractors nominated and approved by the Manager to carry out such works. In respect of the replacement of the openable windows install in or to any part of the Curtain Wall enclosing his Unit, the Owner shall in addition use such materials as approved by the Manager; and (ii) cleaning of the internal surfaces of the Curtain Wall (including the openable windows and non-openable windows installed therein or thereto) enclosing his Unit. (d) In respect of the cleaning, repair, maintenance and replacement of the Curtain Wall enclosing the Commercial Accommodation, the Owner(s) of the Commercial Accommodation shall only engage contractors nominated and approved by the Manager to carry out such works. In respect of the replacement of any part of the Curtain Wall enclosing Commercial Accommodation, the Owner(s) of the Commercial Accommodation shall in addition use such materials as approved by the Manager. (e) The Owners of Units shall not object, and shall render full cooperation, to the Manager for the purpose of cleaning the external surfaces of, and carrying out any works with regards to, the Curtain Wall of the Development. For the avoidance of doubt, the Manager shall not be responsible for (i) the cleaning, repair, maintenance or replacement of any openable window installed in or to any part of the Curtain Wall which forms part of a Residential Unit which shall be the relevant Owner’s responsibility. (f) The following provisions shall apply to the Owner(s) of the Commercial Accommodation :- (i) Notwithstanding anything herein contained and without prejudice or any limitation to the rights reserved to the First Owner under this Deed, the Owner of the Commercial Accommodation (or Owners in accordance with the provisions in the relevant Sub-Deed (if any) in respect of the Commercial Accommodation) shall have the right to affix, erect, maintain, alter, renew, service, repair, replace and remove signs, signboards (illuminated or otherwise), advertisements, lightings, banners, posters or placards or other things or structures or visual images of whatsoever kind, size and description on the exterior or interior of the external walls and Curtain Wall (if any) enclosing the Commercial Accommodation or any part thereof for the purpose of advertising or otherwise and to grant the right to do so to any person PROVIDED HOWEVER THAT any such things, structures or visual images shall not, in the opinion of the Manager, unreasonably interfere with the use and enjoyment by other Owners of the parts of the Development owned by them and/or adversely affect the external appearance of the Development, and the opinion of the Manager in this respect shall be final and conclusive; and (ii) The sole Owner of the Commercial Accommodation shall have the right to enter into a Sub-Deed in respect of the Commercial Accommodation (the “Commercial Sub-DMC”) for the purpose of (i) allocating Undivided Shares to the Unit(s) within the Commercial Accommodation as common areas and common services and facilities for the common use and benefit of the Owners, occupiers and invitees of the Commercial Accommodation and allocate Undivided Shares thereto and (iii) making further provisions for the management, maintenance and servicing of the Commercial Accommodation and its equipment, services and apparatus and for the purpose of further defining and regulating the rights, interests and obligations of the Owners thereof Provided that the provisions of the Commercial Sub- DMC shall not conflict with the provisions of this Deed and shall not adversely affect or prejudice the rights, interests or obligations of the other Owners of the Development (other than the Owners of the Commercial Accommodation) under this Deed or any other previous Sub-Deed(s). (iii) The Owner(s) of the Commercial Accommodation shall have the right to have free and uninterrupted passage and running of electricity and various other services (if any) from and to the Curtain Wall forming part of the Commercial Accommodation (if any) through the ducts, cables, pipes, wires and other conducting media which now are or may at any time hereafter be in, under or passing through the Lot and the Development (including the Common Areas and Facilities) or any part or parts thereof for the proper use and enjoyment of the Curtain Walls forming part of the Commercial Accommodation (if any). (iv) Each Owner of the Commercial Accommodation, his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the relevant part or parts of Residential Carpark Common Areas and Facilities for all purposes connected with the following purposes only:-proper use and enjoyment of the Accessible Car Parking Space and the Visitor Parking Space. (1d) fire escape or in cases of emergency provided that the relevant Every Owner of a Commercial Unit, his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Commercial Accommodation shall make good any damage to the Residential Common Areas and Facilities caused thereby; and (2) for the purpose of gaining access to relevant part or parts of the Development Common Areas and Facilities for all purposes connected with the proper use and enjoyment of his part Unit. (e) Every Owner of a Commercial Unit, his tenants, servants, agents, invitees and licensees shall have the Land full right and Development if liberty (in common with the Manager and only if (Aothers having like rights) there is no other practicable means to enter into such part or parts of go pass and xxxxxx over and along and to use the Development Common Areas and Facilities and (B) where access to such part or parts of the Residential Capark Common Areas and Facilities for such is unavoidableall purposes connected with the proper use and enjoyment of the Commercial Common Areas and Facilities. (f) Every Owner of a Parking Space, his tenants, servants, agents, invitees and PROVIDED THAT such access licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Carpark Common Areas and Facilities for all purposes connected with the proper use and enjoyment of his Parking Space. (g) In each of the above cases, the right and liberty shall be subject to the provisions of this Deed, the rights of the Manager and the Development Rules. 2.8 Subject to the Government Grant, the Owner or occupiers of a Commercial Unit shall have the exclusive right to erect or affix or paint on or to the exterior of, the external walls or curtain wall of his Unit flags, poles, banners, sunshades, sculptures, signs, signboards and advertisements (collectively called “Signs”) subject to the following conditions:- (a) No Signs shall extend beyond the boundaries of his Unit. (b) Detailed specifications, plans and drawings of the Signs and the erection, fixing or installation works thereof (collectively called “Signage Installation Works”) shall first be submitted for approval by the Manager and no Signs shall be erected or affixed or painted and no Signage Installation Works shall be carried out without the prior written approval of the Manager. (c) In addition, all other necessary consents and permissions from the relevant Government authorities shall first be obtained before commencement of the Signage Installation Works and all relevant laws, regulations and rules in force in Hong Kong from time to time shall be complied with. (d) The Signs and the Signage Installation Works shall not cause any damage to the Development or cause the maximum loading weight of the relevant part of the external walls of the Development to be exceeded or cause any material nuisance to the other Owners and occupiers of the Development or otherwise interfere with the use and enjoyment by the other Owners and occupiers of their Units. (e) The Owner or occupier shall insure and keep insured the Signs and the Signage Installation Works owned by him against third party risks or liability in such restrictions sum as the Manager shall require and the Owner shall indemnify and keep indemnified the Manager and all other Owners and occupiers of the Development against all losses damages liabilities claims expenses and costs in respect of the Signage Installation Works and the Signs and any damage caused to any person or property in connection therewith. (includingf) The Owner and occupier shall at his sole cost and expense paint, repair, maintain and keep in good clean and safe repair and condition at all times to the reasonable satisfaction of the Manager his own external wall spaces and any part thereof and the Signs and any other signs, signboards, advertisements, relevant supporting frames thereof, or other erections, installations, fixtures or fittings thereto or thereon and if there shall be any default by the Owner, the Manager, without limitationprejudice to other rights and remedies, those in relation shall have the right to carry out all necessary painting repair and maintenance works at the time costs and routing expenses of the defaulting Owner who shall bear and pay all such access) as may be imposed costs and expenses on demand by the Manager. (g) 2.9 Upon execution of this Deed, the First Owner shall assign to and vested in the Manager free of costs or consideration the whole of the Undivided Shares allocated to the Common Areas and Facilities under this Deed together with the Common Areas and Facilities subject to and with the benefit of the Government Lease Grant and this Deed. Such The Manager shall hold the Undivided Shares together with the right allocated to hold, use, occupy and enjoy the Common Areas and Facilities shall be held by together with the Manager as trustee Common Areas and Facilities on trust for the benefit of all the Owners for the time being and in Owners. In the event the Manager shall resign or be dismissed or wound up or a receiving order made against it and another manager appointed in its stead in accordance with these presents, then the Manager or the liquidator or the receiver (as the case may be) shall assign free of costs or consideration such Undivided Shares together with the Common Areas and Facilities to the new manager upon the same trust PROVIDED THAT if an Owners’ Corporation is formed under the Building Management Ordinance it may require the Manager for the time being or its liquidator or receiver (as the case may be) to assign such Undivided Shares together with the Common Areas and Facilities and transfer the management responsibility to it free of costs or consideration and in which event the Manager shall assign free of costs the Undivided Shares in respect of allocated to the Common Areas and Facilities together with the Common Areas and Facilities and transfer free of costs the management responsibility to the Owners’ Corporation which shall hold such Undivided Shares on trust for the benefit of all the Owners.

Rights and Obligations of Owners. 1. 2.1 The First Owner shall at all times hereafter subject to and with the benefit of the Government Lease Grant have the sole and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Assignee the whole of the Lot Land and the Development together with the appurtenances thereto and the entire rents and profits thereof SAVE AND EXCEPT the First Assignee’s Unit assigned to the First Assignee as aforesaid and SUBJECT TO the rights and privileges granted to the First Assignee by the aforesaid Assignment referred to in paragraph (E) of the Recitals above and SUBJECT TO this Deed and the provisions Deed of this DeedGrant of Right of Way. 2. 2.2 The First Assignee shall at all times hereafter subject to and with the benefit of the Government Lease and these presents Grant have the full and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Owner the First Assignee’s Unit assigned to the First Assignee by the said Assignment referred Subject to in paragraph (E) this Deed and the Deed of the Recitals above Grant of Right of Way together with the appurtenances thereto and the entire rents and profits thereof. 3. 2.3 Each Undivided Share and the full and exclusive right and privilege to hold, use, occupy and enjoy any part of the Development shall be held by the person or persons from time to time entitled thereto subject to and with the benefit of the rights rights, privileges and privileges easements provided in the SECOND SCHEDULE hereto and the express covenants and provisions herein contained. 4. 2.4 The Owner or Owners for the time being of each Undivided Share shall at all times hereafter be bound by and shall observe and perform the covenants, provisions and restrictions contained herein and in the THIRD SCHEDULE hereto and such Owner shall comply with the House Rules from time to time in force so far as the same are binding on such Owner. 5. 2.5 Subject to the Government LeaseGrant, every Owner shall have the full right and liberty without reference to the other Owners or other persons who may be interested in any other Undivided Share or Shares in any way whatsoever and without the necessity of making such other Owners or other persons a party to the transaction to sell, assign, mortgage, charge, lease, license or otherwise dispose of or deal with his Undivided Shares together with the exclusive right and privilege to hold, use, occupy and enjoy such part or parts of the Development which may be held therewith PROVIDED THAT any such sale, assignment, mortgage, charge, lease or licence shall be made expressly subject to and with the benefit of this DeedDeed and the Deed of Grant of Right of Way. 6. (a) The right to the exclusive use, occupation and enjoyment of any part of the Lot Land or the Development shall not be sold, assigned, mortgaged, charged, leased or otherwise dealt with separately from the Undivided Share with which the same is held PROVIDED ALWAYS THAT the provisions of this Clause shall not restrict the leasing or licensing of any Unit. (b) The right to the exclusive use, occupation and enjoyment of balcony, utility platform, flat roof or roof appertaining to a Residential Unit shall not be sold, assigned, mortgaged, charged, leased or otherwise dealt with separately from a Residential Unit with which such balcony, utility platform, flat roof or roof is held. (a) Every Owner, his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Development Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the same, and to go pass and xxxxxx over and along and to use the Residential Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the caretaker quarter forming part of the Development Common Areas and Facilities. (b) Every Owner with the exclusive right and privilege to hold, use, occupy and enjoy any Residential Unit together with his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Residential Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the same. (c) Every Owner shall at his own cost and expense be responsible for:- (i) In each of the cleaning, repair, maintenance and replacement of all the windows of his Unit (including, in respect of any Residential Unit and for the avoidance of doubtabove cases, the openable window installed in or to any part of the Curtain Wall enclosing his Unit). In respect of the repair, maintenance right and replacement of the openable windows install in or to any part of the Curtain Wall enclosing a Residential Unit, the Owner liberty shall only engage contractors nominated and approved by the Manager to carry out such works. In respect of the replacement of the openable windows install in or to any part of the Curtain Wall enclosing his Unit, the Owner shall in addition use such materials as approved by the Manager; and (ii) cleaning of the internal surfaces of the Curtain Wall (including the openable windows and non-openable windows installed therein or thereto) enclosing his Unit. (d) In respect of the cleaning, repair, maintenance and replacement of the Curtain Wall enclosing the Commercial Accommodation, the Owner(s) of the Commercial Accommodation shall only engage contractors nominated and approved by the Manager to carry out such works. In respect of the replacement of any part of the Curtain Wall enclosing Commercial Accommodation, the Owner(s) of the Commercial Accommodation shall in addition use such materials as approved by the Manager. (e) The Owners of Units shall not object, and shall render full cooperation, be subject to the Manager for the purpose provisions of cleaning the external surfaces of, and carrying out any works with regards to, the Curtain Wall of the Development. For the avoidance of doubt, the Manager shall not be responsible for (i) the cleaning, repair, maintenance or replacement of any openable window installed in or to any part of the Curtain Wall which forms part of a Residential Unit which shall be the relevant Owner’s responsibility. (f) The following provisions shall apply to the Owner(s) of the Commercial Accommodation :- (i) Notwithstanding anything herein contained and without prejudice or any limitation to the rights reserved to the First Owner under this Deed, the Owner Deed of Grant of Right of Way, the Commercial Accommodation (or Owners in accordance with the provisions in the relevant Sub-Deed (if any) in respect of the Commercial Accommodation) shall have the right to affix, erect, maintain, alter, renew, service, repair, replace and remove signs, signboards (illuminated or otherwise), advertisements, lightings, banners, posters or placards or other things or structures or visual images of whatsoever kind, size and description on the exterior or interior of the external walls and Curtain Wall (if any) enclosing the Commercial Accommodation or any part thereof for the purpose of advertising or otherwise and to grant the right to do so to any person PROVIDED HOWEVER THAT any such things, structures or visual images shall not, in the opinion of the Manager, unreasonably interfere with the use and enjoyment by other Owners of the parts of the Development owned by them and/or adversely affect the external appearance of the Development, and the opinion rights of the Manager in this respect shall be final and conclusive; and (ii) The sole Owner of the Commercial Accommodation shall have the right to enter into a Sub-Deed in respect of the Commercial Accommodation (the “Commercial Sub-DMC”) for the purpose of (i) allocating Undivided Shares to the Unit(s) within the Commercial Accommodation as common areas and common services and facilities for the common use and benefit of the Owners, occupiers and invitees of the Commercial Accommodation and allocate Undivided Shares thereto and (iii) making further provisions for the management, maintenance and servicing of the Commercial Accommodation and its equipment, services and apparatus and for the purpose of further defining and regulating the rights, interests and obligations of the Owners thereof Provided that the provisions of the Commercial Sub- DMC shall not conflict with the provisions of this Deed and shall not adversely affect or prejudice the rights, interests or obligations of the other Owners of the Development (other than the Owners of the Commercial Accommodation) under this Deed or any other previous Sub-Deed(s)House Rules. (iii) The Owner(s) of the Commercial Accommodation shall have the right to have free and uninterrupted passage and running of electricity and various other services (if any) from and to the Curtain Wall forming part of the Commercial Accommodation (if any) through the ducts, cables, pipes, wires and other conducting media which now are or may at any time hereafter be in, under or passing through the Lot and the Development (including the Common Areas and Facilities) or any part or parts thereof for the proper use and enjoyment of the Curtain Walls forming part of the Commercial Accommodation (if any). (iv) Each Owner of the Commercial Accommodation, his tenants, servants, agents, invitees and licensees shall have the right to go pass and xxxxxx over and along the relevant part or parts of Residential Common Areas and Facilities for the following purposes only:- (1) fire escape or in cases of emergency provided that the relevant Owner of the Commercial Accommodation shall make good any damage to the Residential Common Areas and Facilities caused thereby; and (2) for the purpose of gaining access to relevant part or parts of the Development Common Areas and Facilities for purposes connected with the proper use and enjoyment of his part of the Land and Development if and only if (A) there is no other practicable means to enter into such part or parts of the Development Common Areas and Facilities and (B) where access to such part or parts of the Residential Common Areas and Facilities for such is unavoidable, and PROVIDED THAT such access shall be subject to such restrictions (including, without limitation, those in relation to the time and routing of such access) as may be imposed by the Manager. (g) 2.8 Upon execution of this Deed, the First Owner shall assign to the Manager as trustee for all Owners free of costs or consideration the whole of the Undivided Shares allocated to the Common Areas and Facilities under this Deed together with the Common Areas and Facilities subject to and with the benefit of the Government Lease Grant, this Deed and this Deedthe Deed of Grant of Right of Way. Such Undivided Shares together with the right to hold, use, occupy and enjoy the Common Areas and Facilities shall be held by the Manager as trustee for the benefit of all the Owners for the time being and in In the event that the Manager shall resign or be dismissed or wound up or a receiving order made against it and another manager appointed in its stead in accordance with these presents, then the Manager or the liquidator or the receiver (as the case may be) shall assign free of costs or consideration such Undivided Shares together with the Common Areas and Facilities to the new manager upon the same trust PROVIDED THAT if an Owners’ Corporation is formed under the Building Management Ordinance it may require the Manager for the time being or its liquidator or receiver (as the case may be) to assign such Undivided Shares together with the Common Areas and Facilities and transfer the management responsibility to it free of costs or consideration and in which event the Manager shall assign free of costs and consideration the Undivided Shares in respect of allocated to the Common Areas and Facilities together with the Common Areas and Facilities and transfer free of costs and consideration the management responsibility to the Owners’ Corporation which shall hold such Undivided Shares on trust for the benefit of all the Owners.

Rights and Obligations of Owners. 1. The First Owner shall at all times hereafter hereafter, subject to and with the benefit of the Government Lease Conditions and this Deed, have the sole and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Assignee the whole of the Lot and the Development Estate together with the appurtenances thereto and the entire rents and profits thereof SAVE AND EXCEPT the First Assignee’s Unit said premises assigned to the First Assignee as aforesaid and the Common Areas and Facilities and SUBJECT TO the rights and privileges granted to the First Assignee by the aforesaid Assignment referred to in paragraph (E) of the Recitals above and SUBJECT TO the provisions of this Deed. 2. The First Assignee shall at all times hereafter hereafter, subject to and with the benefit of the Government Lease Conditions and these presents this Deed have the full sole and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Owner the First Assignee’s Unit said premises assigned to the First Assignee by the said Assignment referred to in paragraph (E) of the Recitals above together with the appurtenances thereto and the entire rents and profits thereof. 3. Each Undivided Share and the full and exclusive right and privilege to hold, use, occupy and enjoy any part of the Development Estate shall be held by the person or persons from time to time entitled thereto subject to and with the benefit of the rights and privileges provided in the SECOND SCHEDULE hereto and the express covenants and provisions herein containedcontained and contained in the Conditions. 4. The Owner or Owners for the time being of each Undivided Share shall at all times hereafter be bound by and shall observe and perform the covenants, provisions and restrictions contained herein and in the THIRD SCHEDULE hereto and such Owner shall comply with contained in the House Rules from time to time in force so far as the same are binding on such OwnerConditions. 5. Subject to the Government LeaseConditions and this Deed, every Owner shall have the full right and liberty without reference to the other Owners or other persons who may be interested in any other Undivided Share or Undivided Shares in any way whatsoever and without the necessity of making such other Owners or other persons a party to the transaction to sell, assign, mortgage, charge, lease, license or otherwise dispose of or deal with his Undivided Share or Undivided Shares together with the exclusive right and privilege to hold, use, occupy and enjoy such part or parts of the Development Estate which may be held therewith PROVIDED THAT any such sale, assignment, mortgage, charge, lease or licence shall be made expressly subject to and with the benefit of this DeedDeed and PROVIDED FURTHER THAT every such assignment, mortgage, charge, lease or underletting for a term of more than three years or other alienation of the Lot or any part thereof or any interest therein shall be registered at the Land Registry. 6. (a) The right to the exclusive use, occupation and enjoyment of any part of the Lot or the Development Estate shall not be sold, assigned, mortgaged, charged, leased or otherwise dealt with separately from the Undivided Share or the Undivided Shares with which the same is held PROVIDED ALWAYS THAT the provisions of this Clause shall not restrict extend to leases or tenancies the leasing or licensing terms of which shall not exceed ten (10) years in aggregate including any right of renewal. (b) The right to the exclusive use occupation and enjoyment of any flat roof, portion of the roof, garden, Balcony or Utility Platform (as the case may be) shall not be sold assigned mortgaged charged leased or otherwise dealt with separately from the Residential Unit with which the flat roof, the portion of the roof, the garden, the Balcony or the Utility Platform is held. (c) Each Unit shall not be partitioned or sold assigned mortgaged charged leased or otherwise dealt with separately from other parts or portions of that Unit. (a) Every Owner, his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Development Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the same. (b) Every Owner with the exclusive right and privilege to hold, use, occupy and enjoy any Residential Unit together with his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Residential Common Areas and Facilities and the Estate Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the same. (b) Every Owner with the exclusive right and privilege to hold, use, occupy and enjoy any Parking Space together with his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Carpark Common Areas and Facilities and the Estate Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the same. (c) Every Owner shall at his own cost The right and expense be responsible for:- (i) the cleaning, repair, maintenance and replacement of all the windows of his Unit (including, in respect of any Residential Unit and for the avoidance of doubt, the openable window installed in or liberty to any part of the Curtain Wall enclosing his Unit). In respect of the repair, maintenance and replacement of the openable windows install in or to any part of the Curtain Wall enclosing a Residential Unit, the Owner shall only engage contractors nominated and approved by the Manager to carry out such works. In respect of the replacement of the openable windows install in or to any part of the Curtain Wall enclosing his Unit, the Owner shall in addition use such materials as approved by the Manager; and (ii) cleaning of the internal surfaces of the Curtain Wall (including the openable windows and non-openable windows installed therein or thereto) enclosing his Unit. (d) In respect of the cleaning, repair, maintenance and replacement of the Curtain Wall enclosing the Commercial Accommodation, the Owner(s) of the Commercial Accommodation shall only engage contractors nominated and approved by the Manager to carry out such works. In respect of the replacement of any part of the Curtain Wall enclosing Commercial Accommodation, the Owner(s) of the Commercial Accommodation shall in addition use such materials as approved by the Manager. (e) The Owners of Units shall not object, and shall render full cooperation, to the Manager for the purpose of cleaning the external surfaces of, and carrying out any works with regards to, the Curtain Wall of the Development. For the avoidance of doubt, the Manager shall not be responsible for (i) the cleaning, repair, maintenance or replacement of any openable window installed in or to any part of the Curtain Wall which forms part of a Residential Unit which shall be the relevant Owner’s responsibility. (f) The following provisions shall apply to the Owner(s) of the Commercial Accommodation :- (i) Notwithstanding anything herein contained and without prejudice or any limitation to the rights reserved to the First Owner under this Deed, the Owner of the Commercial Accommodation (or Owners in accordance with the provisions in the relevant Sub-Deed (if any) in respect of the Commercial Accommodation) shall have the right to affix, erect, maintain, alter, renew, service, repair, replace and remove signs, signboards (illuminated or otherwise), advertisements, lightings, banners, posters or placards or other things or structures or visual images of whatsoever kind, size and description on the exterior or interior of the external walls and Curtain Wall (if any) enclosing the Commercial Accommodation or any part thereof for the purpose of advertising or otherwise and to grant the right to do so to any person PROVIDED HOWEVER THAT any such things, structures or visual images shall not, in the opinion of the Manager, unreasonably interfere with the use and enjoyment by other Owners of the parts of the Development owned by them and/or adversely affect the external appearance of the Development, and the opinion of the Manager in this respect shall be final and conclusive; and (ii) The sole Owner of the Commercial Accommodation shall have the right to enter into a Sub-Deed in respect of the Commercial Accommodation (the “Commercial Sub-DMC”) for the purpose of (i) allocating Undivided Shares to the Unit(s) within the Commercial Accommodation as common areas and common services and facilities for the common use and benefit of the Owners, occupiers and invitees of the Commercial Accommodation and allocate Undivided Shares thereto and (iii) making further provisions for the management, maintenance and servicing of the Commercial Accommodation and its equipment, services and apparatus and for the purpose of further defining and regulating the rights, interests and obligations of the Owners thereof Provided that the provisions of the Commercial Sub- DMC shall not conflict with the provisions of this Deed and shall not adversely affect or prejudice the rights, interests or obligations of the other Owners of the Development (other than the Owners of the Commercial Accommodation) under this Deed or any other previous Sub-Deed(s). (iii) The Owner(s) of the Commercial Accommodation shall have the right to have free and uninterrupted passage and running of electricity and various other services (if any) from and to the Curtain Wall forming part of the Commercial Accommodation (if any) through the ducts, cables, pipes, wires and other conducting media which now are or may at any time hereafter be in, under or passing through the Lot and the Development (including the Common Areas and Facilities) or any part or parts thereof for the proper use and enjoyment of the Curtain Walls forming part of the Commercial Accommodation (if any). (iv) Each Owner of the Commercial Accommodation, his tenants, servants, agents, invitees and licensees shall have the right to go pass and xxxxxx over and along the relevant part or parts of Residential Common Areas and Facilities for the following purposes only:- (1) fire escape or in cases of emergency provided that the relevant Owner of the Commercial Accommodation shall make good any damage to the Residential Common Areas and Facilities caused thereby; and (2) for Facilities, the purpose of gaining access to relevant part or parts of the Development Common Areas and Facilities for purposes connected with the proper use and enjoyment of his part of the Land and Development if and only if (A) there is no other practicable means to enter into such part or parts of the Development Estate Common Areas and Facilities and (B) where access to such part or parts of the Residential Carpark Common Areas and Facilities for such is unavoidable, as referred to in Clauses 7(a) and PROVIDED THAT such access (b) above shall be subject to such restrictions (includingthe provisions of this Deed, without limitation, those in relation to the time and routing rights of such access) as may be imposed by the Manager, the Estate Rules and the fitting out rules (if any) relating thereto. (gd) Upon execution of this Deed, the First Owner shall assign the whole of the Common Areas and Facilities together with the number of the Undivided Shares relating thereto to the Manager free of costs cost or consideration who must hold the Common Areas and Facilities and the whole of the Undivided Shares allocated to the Common Areas and Facilities under this Deed subject to and with the benefit of the Government Lease and this Deed. Such Undivided Shares together with the right to hold, use, occupy and enjoy the Common Areas and Facilities shall be held by the Manager relating thereto as trustee for the benefit of all the Owners for the time being and in the event the Manager shall resign or be dismissed or wound up or a receiving order made against it and another manager appointed in its stead in accordance with these presents, then the Manager or the liquidator or the receiver (as the case may be) shall assign free of costs or consideration such Undivided Shares subject to the new manager upon the same trust PROVIDED THAT if an Owners’ Corporation is formed under the Building Management Ordinance it may require the Manager for the time being or its liquidator or receiver (as the case may be) Conditions and subject to assign such Undivided Shares and transfer the management responsibility to it free of costs or consideration and in which event the Manager shall assign free of costs the Undivided Shares in respect of the Common Areas and Facilities and transfer free of costs the management responsibility to the Owners’ Corporation which shall hold such Undivided Shares on trust for with the benefit of all the Ownersthis Deed but otherwise free from encumbrances.

Rights and Obligations of Owners. 1. The First Owner shall at all times hereafter hereafter, subject to and with the benefit of the Government Lease Conditions and this Deed, have the sole and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Assignee the whole of the Lot and the Development Estate together with the appurtenances thereto and the entire rents and profits thereof SAVE AND EXCEPT the First Assignee’s Unit said premises assigned to the First Assignee as aforesaid and the Common Areas and Facilities and SUBJECT TO the rights and privileges granted to the First Assignee by the aforesaid Assignment referred to in paragraph (E) of the Recitals above and SUBJECT TO the provisions of this Deed. 2. The First Assignee shall at all times hereafter hereafter, subject to and with the benefit of the Government Lease Conditions and these presents this Deed have the full sole and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Owner the First Assignee’s Unit said premises assigned to the First Assignee by the said Assignment referred to in paragraph (E) of the Recitals above together with the appurtenances thereto and the entire rents and profits thereof. 3. Each Undivided Share and the full and exclusive right and privilege to hold, use, occupy and enjoy any part of the Development Estate shall be held by the person or persons from time to time entitled thereto subject to and with the benefit of the rights and privileges provided in the SECOND SCHEDULE hereto and the express covenants and provisions herein containedcontained and contained in the Conditions. 4. The Owner or Owners for the time being of each Undivided Share shall at all times hereafter be bound by and shall observe and perform the covenants, provisions and restrictions contained herein and in the THIRD SCHEDULE hereto and such Owner shall comply with contained in the House Rules from time to time in force so far as the same are binding on such OwnerConditions. 5. Subject to the Government LeaseConditions and this Deed, every Owner shall have the full right and liberty without reference to the other Owners or other persons who may be interested in any other Undivided Share or Undivided Shares in any way whatsoever and without the necessity of making such other Owners or other persons a party to the transaction to sell, assign, mortgage, charge, lease, license or otherwise dispose of or deal with his Undivided Share or Undivided Shares together with the exclusive right and privilege to hold, use, occupy and enjoy such part or parts of the Development Estate which may be held therewith PROVIDED THAT any such sale, assignment, mortgage, charge, lease or licence shall be made expressly subject to and with the benefit of this DeedDeed and PROVIDED FURTHER THAT every such assignment, mortgage, charge, lease or underletting for a term of more than three years or other alienation of the Lot or any part thereof or any interest therein shall be registered at the Land Registry. 6. (a) The right to the exclusive use, occupation and enjoyment of any part of the Lot or the Development Estate shall not be sold, assigned, mortgaged, charged, leased or otherwise dealt with separately from the Undivided Share or the Undivided Shares with which the same is held PROVIDED ALWAYS THAT the provisions of this Clause shall not restrict extend to leases or tenancies the leasing or licensing terms of which shall not exceed ten (10) years in aggregate including any right of renewal. (b) The right to the exclusive use occupation and enjoyment of any flat roof, portion of the roof, private garden, Balcony or Utility Platform (as the case may be) shall not be sold assigned mortgaged charged leased or otherwise dealt with separately from the Residential Unit with which the flat roof, the portion of the roof, the private garden, the Balcony or the Utility Platform is held. (c) Each Unit shall not be partitioned or sold assigned mortgaged charged leased or otherwise dealt with separately from other parts or portions of that Unit. (a) Every Owner, his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Development Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the same. (b) Every Owner with the exclusive right and privilege to hold, use, occupy and enjoy any Residential Unit together with his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Residential Common Areas and Facilities and the Estate Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the same. (b) Every Owner with the exclusive right and privilege to hold, use, occupy and enjoy any Parking Space together with his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Carpark Common Areas and Facilities and the Estate Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the same. (c) Every Owner shall at his own cost The right and expense be responsible for:- (i) the cleaning, repair, maintenance and replacement of all the windows of his Unit (including, in respect of any Residential Unit and for the avoidance of doubt, the openable window installed in or liberty to any part of the Curtain Wall enclosing his Unit). In respect of the repair, maintenance and replacement of the openable windows install in or to any part of the Curtain Wall enclosing a Residential Unit, the Owner shall only engage contractors nominated and approved by the Manager to carry out such works. In respect of the replacement of the openable windows install in or to any part of the Curtain Wall enclosing his Unit, the Owner shall in addition use such materials as approved by the Manager; and (ii) cleaning of the internal surfaces of the Curtain Wall (including the openable windows and non-openable windows installed therein or thereto) enclosing his Unit. (d) In respect of the cleaning, repair, maintenance and replacement of the Curtain Wall enclosing the Commercial Accommodation, the Owner(s) of the Commercial Accommodation shall only engage contractors nominated and approved by the Manager to carry out such works. In respect of the replacement of any part of the Curtain Wall enclosing Commercial Accommodation, the Owner(s) of the Commercial Accommodation shall in addition use such materials as approved by the Manager. (e) The Owners of Units shall not object, and shall render full cooperation, to the Manager for the purpose of cleaning the external surfaces of, and carrying out any works with regards to, the Curtain Wall of the Development. For the avoidance of doubt, the Manager shall not be responsible for (i) the cleaning, repair, maintenance or replacement of any openable window installed in or to any part of the Curtain Wall which forms part of a Residential Unit which shall be the relevant Owner’s responsibility. (f) The following provisions shall apply to the Owner(s) of the Commercial Accommodation :- (i) Notwithstanding anything herein contained and without prejudice or any limitation to the rights reserved to the First Owner under this Deed, the Owner of the Commercial Accommodation (or Owners in accordance with the provisions in the relevant Sub-Deed (if any) in respect of the Commercial Accommodation) shall have the right to affix, erect, maintain, alter, renew, service, repair, replace and remove signs, signboards (illuminated or otherwise), advertisements, lightings, banners, posters or placards or other things or structures or visual images of whatsoever kind, size and description on the exterior or interior of the external walls and Curtain Wall (if any) enclosing the Commercial Accommodation or any part thereof for the purpose of advertising or otherwise and to grant the right to do so to any person PROVIDED HOWEVER THAT any such things, structures or visual images shall not, in the opinion of the Manager, unreasonably interfere with the use and enjoyment by other Owners of the parts of the Development owned by them and/or adversely affect the external appearance of the Development, and the opinion of the Manager in this respect shall be final and conclusive; and (ii) The sole Owner of the Commercial Accommodation shall have the right to enter into a Sub-Deed in respect of the Commercial Accommodation (the “Commercial Sub-DMC”) for the purpose of (i) allocating Undivided Shares to the Unit(s) within the Commercial Accommodation as common areas and common services and facilities for the common use and benefit of the Owners, occupiers and invitees of the Commercial Accommodation and allocate Undivided Shares thereto and (iii) making further provisions for the management, maintenance and servicing of the Commercial Accommodation and its equipment, services and apparatus and for the purpose of further defining and regulating the rights, interests and obligations of the Owners thereof Provided that the provisions of the Commercial Sub- DMC shall not conflict with the provisions of this Deed and shall not adversely affect or prejudice the rights, interests or obligations of the other Owners of the Development (other than the Owners of the Commercial Accommodation) under this Deed or any other previous Sub-Deed(s). (iii) The Owner(s) of the Commercial Accommodation shall have the right to have free and uninterrupted passage and running of electricity and various other services (if any) from and to the Curtain Wall forming part of the Commercial Accommodation (if any) through the ducts, cables, pipes, wires and other conducting media which now are or may at any time hereafter be in, under or passing through the Lot and the Development (including the Common Areas and Facilities) or any part or parts thereof for the proper use and enjoyment of the Curtain Walls forming part of the Commercial Accommodation (if any). (iv) Each Owner of the Commercial Accommodation, his tenants, servants, agents, invitees and licensees shall have the right to go pass and xxxxxx over and along the relevant part or parts of Residential Common Areas and Facilities for the following purposes only:- (1) fire escape or in cases of emergency provided that the relevant Owner of the Commercial Accommodation shall make good any damage to the Residential Common Areas and Facilities caused thereby; and (2) for Facilities, the purpose of gaining access to relevant part or parts of the Development Common Areas and Facilities for purposes connected with the proper use and enjoyment of his part of the Land and Development if and only if (A) there is no other practicable means to enter into such part or parts of the Development Estate Common Areas and Facilities and (B) where access to such part or parts of the Residential Carpark Common Areas and Facilities for such is unavoidable, as referred to in Clauses 7(a) and PROVIDED THAT such access (b) above shall be subject to such restrictions (includingthe provisions of this Deed, without limitation, those in relation to the time and routing rights of such access) as may be imposed by the Manager, the Estate Rules and the fitting out rules (if any) relating thereto. (gd) Upon execution of this Deed, the First Owner shall assign the whole of the Common Areas and Facilities together with the number of the Undivided Shares relating thereto to the Manager free of costs cost or consideration who must hold the Common Areas and Facilities and the whole of the Undivided Shares allocated to the Common Areas and Facilities under this Deed subject to and with the benefit of the Government Lease and this Deed. Such Undivided Shares together with the right to hold, use, occupy and enjoy the Common Areas and Facilities shall be held by the Manager relating thereto as trustee for the benefit of all the Owners for the time being and in the event the Manager shall resign or be dismissed or wound up or a receiving order made against it and another manager appointed in its stead in accordance with these presents, then the Manager or the liquidator or the receiver (as the case may be) shall assign free of costs or consideration such Undivided Shares subject to the new manager upon the same trust PROVIDED THAT if an Owners’ Corporation is formed under the Building Management Ordinance it may require the Manager for the time being or its liquidator or receiver (as the case may be) Conditions and subject to assign such Undivided Shares and transfer the management responsibility to it free of costs or consideration and in which event the Manager shall assign free of costs the Undivided Shares in respect of the Common Areas and Facilities and transfer free of costs the management responsibility to the Owners’ Corporation which shall hold such Undivided Shares on trust for with the benefit of all the Ownersthis Deed but otherwise free from encumbrances.

Rights and Obligations of Owners. 1. The First Registered Owner shall at all times hereafter subject to and with the benefit of the Government Lease and the Mortgage have the sole and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Assignee Purchaser the whole of the Lot and the Development together with the appurtenances thereto and the entire rents and profits thereof SAVE AND EXCEPT the First Assignee’s Assigned Unit assigned to the First Assignee as aforesaid and SUBJECT TO the rights and privileges granted to the First Assignee Purchaser by the aforesaid Assignment referred to in paragraph (E) of the Recitals above and SUBJECT TO the provisions of this Deed. 2. The First Assignee Purchaser shall at all times hereafter subject to and with the benefit of the Government Lease and these presents subject to and with the benefit of this Deed have the full sole and exclusive right and privilege to hold, use, occupy and enjoy to All That the exclusion of the First Owner the First Assignee’s Unit assigned to the First Assignee by the Assignment referred to in paragraph (E) of the Recitals above together with the appurtenances thereto and the entire rents and profits thereofAssigned Unit. 3. Each Undivided Share and the full and exclusive right and privilege to hold, use, occupy and enjoy any part of the Development shall be held by the person or persons from time to time entitled thereto subject to and with the benefit of the rights easements, rights, privileges and privileges provided in the SECOND SCHEDULE hereto and the express covenants and provisions obligations herein contained. 4. The Every Owner or Owners for the time being of each Undivided Share shall at all times hereafter be bound by and shall observe and perform the covenants, provisions and restrictions contained herein and in the THIRD SCHEDULE hereto benefit and such Owner burden thereof shall comply with be annexed to every part of the House Rules from Lot and the Development and the Undivided Share or Shares as held therewith. The Conveyancing and Property Ordinance (Cap.219) and any statutory amendments, modifications and re-enactments thereof for time to time being in force so far as the same are binding on such Ownershall apply to this Deed. 5. Subject to the Government LeaseClause 6 of Section II, every Owner shall have the full right and liberty without reference to the other Owners or other persons who may be interested in any other Undivided Share or Shares in any way whatsoever and without the necessity of making such other Owners or other persons a party to the transaction to sell, assign, mortgage, lease, license or otherwise dispose of or deal with his Undivided Shares share or interest in the Lot and the Development together with the exclusive right and privilege to hold, use, occupy and enjoy such part or parts of the Development which may be held therewith PROVIDED THAT but any such sale, assignment, mortgage, lease or licence shall be expressly made expressly subject to and with the benefit of the Government Lease and this Deed. 6. (a) The right to the exclusive use, occupation and enjoyment of any part of the Lot or the Development shall not be sold, assigned, mortgaged, charged, leased or otherwise dealt with separately from the Undivided Share with which the same is held PROVIDED ALWAYS THAT the provisions of this Clause shall not restrict extend to lease or tenancy the leasing or licensing term of which (including any Unit. renewals thereof) does not exceed ten (a10) Every Owner, his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Development Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the sameyears. (b) Every The right to the exclusive use, occupation and enjoyment of roof, flat roof or Yard(s) specifically assigned by the Registered Owner shall not at any time thereafter be sold, assigned, mortgaged, charged, leased or otherwise dealt with separately from the Residential Unit with which such roof, flat roof or Yard(s) is held. (c) The Owner of the Car Park(s) shall not : (1) assign the Car Park or any interest therein without also and at the same time assigning the Undivided Shares of and in the Lot and the Development together with the right to the exclusive use and occupation of a Residential Unit; nor (2) underlet the same or any interest therein or enter into any agreement so to do except to the resident of a Residential Unit PROVIDED THAT nothing herein contained shall prevent (i) the assignment of such Car Park to any person who is already at that time the Owner of the Undivided Shares of and in the Lot and the Development together with the right to the exclusive use and occupation of a Residential Unit or (ii) the use of such Car Park by the resident of a Residential Unit or his bona fide visitors or invitees. 7. Notwithstanding anything herein to the contrary, there is reserved unto the Registered Owner the following rights and privileges :- (a) The exclusive right and privilege to change, amend, vary, add to or alter the Approved Plans existing at the date hereof (without the consent or concurrence of the First Purchaser or any Owner at any time hereinafter subject to the approval of the Building Authority (if required) PROVIDED THAT any such change, amendment, variation, addition or alteration shall not interfere with an Owner's right to hold, use, occupy and enjoy the part of the Development which he owns or unreasonably impede or restrict the access to and from any such part of the Development PROVIDED FURTHER THAT any exercise of this right affecting the Common Areas and Facilities shall require the prior written approval of the Owners' Committee (or the Owners' Corporation, if formed) or the Manager in the absence of the Owners’ Committee and the Owners’ Corporation and PROVIDED FURTHER THAT if any exercise of this right should affect the Common Areas and Facilities or any part of the Development owned by certain Owner or Owners, then any benefit, concession or compensation, whether monetary or otherwise, acquired as a result of such exercise of this right shall be accrued to all Owners or the relevant Owner or Owners concerned as the case may be. (b) The exclusive and unrestricted right and privilege to apply negotiate and agree with the Government to amend, vary or modify the Government Lease (including the Plan(s) annexed thereto) in such manner as the Registered Owner may deem fit without the concurrence or approval of any Owner and to execute any documents in the name of the Registered Owner in connection therewith without the necessity of joining in any other Owner PROVIDED THAT the exercise of this right shall not interfere with an Owner's right to hold, use, occupy and enjoy the part of the Development which he owns or unreasonably impede or restrict the access to or from any such part of the Development and PROVIDED FURTHER THAT any exercise of this right affecting the Common Areas and Facilities shall require the prior written approval of the Owners' Committee (or the Owners' Corporation, if formed) or the Manager in the absence of the Owners’ Committee and the Owners’ Corporation and PROVIDED FURTHER THAT if any exercise of this right should affect the Common Areas and Facilities or any part of the Development owned by certain Owner or Owners, then any benefit, concession or compensation, whether monetary or otherwise, acquired as a result of such exercise of this right shall be accrued to all Owners or the relevant Owner or Owners concerned as the case may be. (c) The full and unrestricted right to enter into and upon all parts of the Lot and the Development (save and except those parts of the Lot and the Development the sole and exclusive right to the use enjoyment and occupation of which have been assigned or otherwise disposed of to an Owner) with all necessary equipment, plant and materials for the purposes of constructing or completing the other parts of the Development and may, for such purpose, carry out all such works in, under, on or over the Lot and the Development (save and except those parts as aforesaid) as it may from time to time see fit. The right of the Registered Owner to enter the Lot and the Development (save and except those parts as aforesaid) to carry out such works shall extend equally to all necessary contractors, agents, workers and other persons authorised by the Registered Owner PROVIDED THAT the Registered Owner shall cause as little disturbance as reasonably possible to the Owners and make good any damage in connection with or in the exercise of the right under this Clause. (d) At all times hereafter but subject to and with the benefit of the Government Lease and this Deed insofar as they relate thereto, the full and unrestricted right without interference by the Owners to assign, mortgage, charge, lease, license, franchise, part with possession of or otherwise deal with the Undivided Shares retained by the Registered Owner (other than the Undivided Shares in respect of the Common Areas and Facilities) and to re-allocate the Undivided Shares so retained by the Registered Owner to any of the Units within the Development retained by the Registered Owner PROVIDED THAT the total number of Undivided Shares for each such part remains unchanged, and to assign, mortgage, charge, lease, license or franchise the full and exclusive right and privilege to hold, use, occupy and enjoy any Residential Unit together with his tenants, servants, agents, invitees such Units within the Development retained by the Registered Owner and licensees PROVIDED FURTHER THAT such dealings shall have not contravene the full right terms and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Residential Common Areas and Facilities for all purposes connected with the proper use and enjoyment conditions of the same. (c) Every Owner Government Lease and this Deed and PROVIDED FURTHER THAT such re-allocation of Undivided Shares shall at his own cost and expense be responsible for:- (i) not affect the cleaning, repair, maintenance and replacement Undivided Shares of all the windows of his Unit (including, in respect of any Residential Unit and for the avoidance of doubt, the openable window installed in or to any part of the Curtain Wall enclosing his Unit). In respect of the repair, maintenance and replacement of the openable windows install in or to any part of the Curtain Wall enclosing a Residential Unit, the Owner shall only engage contractors nominated and approved other Units held by the Manager to carry out such works. In respect of the replacement of the openable windows install in or to any part of the Curtain Wall enclosing his Unit, the Owner shall in addition use such materials as approved by the Manager; and (ii) cleaning of the internal surfaces of the Curtain Wall (including the openable windows and non-openable windows installed therein or thereto) enclosing his Unit. (d) In respect of the cleaning, repair, maintenance and replacement of the Curtain Wall enclosing the Commercial Accommodation, the Owner(s) of the Commercial Accommodation shall only engage contractors nominated and approved by the Manager to carry out such works. In respect of the replacement of any part of the Curtain Wall enclosing Commercial Accommodation, the Owner(s) of the Commercial Accommodation shall in addition use such materials as approved by the Managerother Owners. (e) The Owners exclusive right to name or change the name of Units shall not object, the Development at any time and shall render full cooperation, to execute any documents in the name of the Registered Owner in connection therewith without the necessity of joining in any other Owner upon giving six months' notice to the Manager for the purpose of cleaning the external surfaces of, Owners and carrying out any works with regards to, the Curtain Wall of the Development. For the avoidance of doubt, the Manager shall not be responsible for (i) the cleaning, repair, maintenance or replacement of any openable window installed in or liable to any part of Owner or other person having an interest in the Curtain Wall which forms part of a Residential Unit which shall be the relevant Owner’s responsibilityDevelopment for any damages, claims, costs or expenses resulting therefrom or in connection therewith. (f) The following provisions shall apply full and unrestricted right to effect surrender of land or dedication of areas to the Owner(s) of the Commercial Accommodation :- (i) Notwithstanding anything herein contained Government and without prejudice or any limitation pursuant to the rights reserved Government Lease or wherever required by the Government to the First Owner under this Deed, the Owner of the Commercial Accommodation (or Owners in accordance with the provisions in the relevant Sub-Deed (if any) in respect of the Commercial Accommodation) shall have the right to affix, erect, maintain, alter, renew, service, repair, replace and remove signs, signboards (illuminated or otherwise), advertisements, lightings, banners, posters or placards or other things or structures or visual images of whatsoever kind, size and description on the exterior or interior of the external walls and Curtain Wall (if any) enclosing the Commercial Accommodation or do being any part thereof for the purpose of advertising or otherwise and to grant the right to do so to any person PROVIDED HOWEVER THAT any such things, structures or visual images shall not, in the opinion of the Manager, unreasonably interfere with the use and enjoyment by other Owners of the parts of the Development owned by them and/or adversely affect the external appearance of the Development, and the opinion of the Manager in this respect shall be final and conclusive; and (ii) The sole Owner of the Commercial Accommodation shall have the right to enter into a Sub-Deed in respect of the Commercial Accommodation (the “Commercial Sub-DMC”) for the purpose of (i) allocating Undivided Shares to the Unit(s) within the Commercial Accommodation as common areas and common services and facilities for the common use and benefit of the Owners, occupiers and invitees of the Commercial Accommodation and allocate Undivided Shares thereto and (iii) making further provisions for the management, maintenance and servicing of the Commercial Accommodation and its equipment, services and apparatus and for the purpose of further defining and regulating the rights, interests and obligations of the Owners thereof Provided that the provisions of the Commercial Sub- DMC shall not conflict with the provisions of this Deed and shall not adversely affect or prejudice the rights, interests or obligations of the other Owners of the Development (other than the Owners of the Commercial Accommodation) under this Deed or any other previous Sub-Deed(s). (iii) The Owner(s) of the Commercial Accommodation shall have the right to have free and uninterrupted passage and running of electricity and various other services (if any) from and to the Curtain Wall forming part of the Commercial Accommodation (if any) through the ducts, cables, pipes, wires and other conducting media which now are or may at any time hereafter be in, under or passing through the Lot and the Development (including the Common Areas and Facilities) or any part or parts thereof for the proper use and enjoyment of the Curtain Walls forming part of the Commercial Accommodation (if any). (iv) Each Owner of the Commercial Accommodation, his tenants, servants, agents, invitees and licensees shall have the right to go pass and xxxxxx over and along the relevant part or parts of Residential Common Areas and Facilities for the following purposes only:- (1) fire escape or in cases of emergency provided that the relevant Owner of the Commercial Accommodation shall make good any damage to the Residential Common Areas and Facilities caused thereby; and (2) for the purpose of gaining access to relevant part or parts of the Development Common Areas and Facilities for purposes connected with the proper use and enjoyment of his part of the Land and Development if and only if (A) there is no other practicable means to enter into such part or parts of the Development Common Areas and Facilities and (B) where access to such part or parts of the Residential Common Areas and Facilities for such is unavoidable, and PROVIDED THAT in making such access shall be subject to such restrictions (including, without limitation, those in relation to surrender or dedication the time and routing of such access) as may be imposed by the Manager. (g) Upon execution of this Deed, the First Registered Owner shall assign to the Manager free of costs or consideration the whole of the Undivided Shares allocated to the Common Areas and Facilities under this Deed subject to and not interfere with the benefit of the Government Lease and this Deed. Such Undivided Shares together with the an Owner's right to hold, use, occupy and enjoy the part of the Development which he owns or unreasonably impede or restrict an Owner's right of access to and from his part of the Development and PROVIDED FURTHER THAT if any exercise of this right should affect the Common Areas and Facilities or any part of the Development owned by certain Owner or Owners, then any benefit, concession or compensation, whether monetary or otherwise, acquired as a result of such exercise of this right shall be held accrued to all Owners or the relevant Owner or Owners concerned as the case may be and PROVIDED FURTHER THAT if any exercise of this right should affect the Common Areas and Facilities, the exercise of such right shall be subject to the prior written approval of the Owners’ Committee (or the Owners’ Corporation, if formed) or the Manager in the absence of the Owners’ Committee and the Owners’ Corporation. (g) The full and unreserved right to adjust or re-align the boundary of the Lot and to negotiate and agree with the Government in connection therewith and for that purpose to effect any surrender, extension or regrant PROVIDED THAT the exercise of this right shall not adversely affect the right of the Owners to hold, use, occupy and enjoy their respective parts of the Development and PROVIDED FURTHER THAT if any exercise of this right should affect the Common Areas and Facilities or any part of the Development owned by certain Owner or Owners, then any benefit, concession or compensation, whether monetary or otherwise, acquired as a result of such exercise of this right shall be accrued to all Owners or the relevant Owner or Owners concerned as the case may be and PROVIDED FURTHER THAT if any exercise of this right should affect the Common Areas and Facilities, the exercise of such right shall be subject to the prior written approval of the Owners’ Committee (or the Owners’ Corporation, if formed) or the Manager in the absence of the Owners’ Committee and the Owners’ Corporation. (h) The right to enter into a supplemental deed or supplemental deed of mutual covenant and/or a sub-deed of mutual covenant in respect of any part or parts of the Development still owned by the Manager Registered Owner without joining in Owners of other parts of the Development PROVIDED THAT such supplemental deed or supplemented deed of mutual covenant and/or sub-deed or sub-deeds of mutual covenant shall not contradict with the provisions of this Deed nor affect the rights, interests or obligations of any Owner not bound by such supplemental deed(s) and/or sub-deed(s). 8. The Owners hereby jointly and severally and irrevocably APPOINT the Registered Owner as trustee their attorney and grant unto the Registered Owner the full right power and authority to do all acts deeds matters and things and to execute and sign seal and as their act and deed deliver such deed or deeds and to sign such documents or instruments as may be necessary for the benefit exercise of all or incidental to the Registered Owner's rights mentioned in Clause 7 above and the Owners for hereby further jointly and severally undertake to do all acts deeds matters and things and to execute sign seal and deliver such deeds and to sign such documents or instruments as may be necessary to give effect to the time being abovementioned appointment and in grant and to ratify and confirm all that the event Registered Owner as such attorney shall lawfully do or cause to be done by virtue thereof and that the Manager power of attorney hereby given shall resign bind the executor(s) and the administrator(s) and the successor(s) and assign(s) of such Owners and shall not be revoked by the death incapacity bankruptcy or be dismissed or wound winding-up or a receiving order made against it and another manager appointed in its stead in accordance with these presents, then the Manager or the liquidator or the receiver (as the case may be) of any of such Owners. 9. An Owner shall not be entitled to assign free of costs or consideration such Undivided Shares the Unit which he owns unless he includes a covenant in substantially the following terms: - “The Purchaser covenants with the Vendor and its successors assigns and attorneys to the new manager upon intent that such covenants shall bind the same trust PROVIDED THAT if an Owners’ Corporation is formed under Property and the Building Management Ordinance it may require the Manager owner or owners thereof for the time being and other person or its liquidator or receiver persons deriving title under the Covenanting Purchaser (as each and all of whom including the case may bePurchaser is and are hereinafter included in the expression “the Covenanting Purchaser”) to assign such Undivided Shares and transfer the management responsibility to it free of costs or consideration and in which event the Manager shall assign free of costs the Undivided Shares in respect of the Common Areas and Facilities and transfer free of costs the management responsibility to the Owners’ Corporation which shall hold such Undivided Shares on trust enure for the benefit of the Development and be enforceable by the Vendor and its successors and assigns that :- (a) the Covenanting Purchaser confirms and acknowledges the covenants, rights, entitlements, exceptions and reservations granted and conferred on Zen Wei Xxx Xxxxxxx ("the Developer" which expression shall include his successors and attorneys) under Clause 7 of Section II of a Deed of Mutual Covenant dated the day of and the Covenanting Purchaser shall not do or permit anything to be done which will in any way affect or hinder the exercise of the said rights by the Developer; (b) the Covenanting Purchaser hereby expressly and irrevocably appoints the Developer to be its attorney and grants unto the Developer the full right power and authority to give all consents and to do all acts deeds matters and things and to execute and sign seal and as the Ownersacts and deeds of the Covenanting Purchaser deliver such deeds and to sign such documents or instruments as may be necessary for the exercise of or incidental to the exercise of the rights conferred on the Developer as aforesaid with the full power of delegation and the Covenanting Purchaser hereby further covenants to do all acts deeds matters and things and to execute sign seal and deliver such deed or deeds and to sign such documents or instruments as may be necessary to give effect to such appointment and grant; and (c) in the event of the Covenanting Purchaser selling or otherwise disposing of the Property, the Covenanting Purchaser shall sell or otherwise dispose of the Property upon the condition that the purchaser or assignee thereof shall enter into the same binding covenants on terms similar in scope and extent as the covenants (a) and (b) hereinbefore contained PROVIDED that upon the Covenanting Purchaser complying with and performing the covenant (c) hereinbefore contained, the Covenanting Purchaser shall not be liable for any breach of the covenants (a) and (b) hereinbefore contained which may happen after the Covenanting Purchaser shall have sold or otherwise disposed of the Property in respect whereof such purchaser or assignee shall have entered into such covenants similar in scope and extent as the covenants (a), (b) and (c) hereinbefore contained”.

Rights and Obligations of Owners. 1. 2.1 The First Owner shall at all times hereafter hereafter, subject to and with the benefit of the Government Lease Grant, have the sole and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Assignee the whole of the Lot Land and the Development together with the appurtenances thereto and the entire rents and profits thereof SAVE AND EXCEPT the First Assignee’s 's Unit assigned to the First Assignee as aforesaid and SUBJECT TO the rights and privileges granted to the First Assignee by the aforesaid Assignment referred to in paragraph (E) of the Recitals above and SUBJECT TO the provisions of this Deed. 2. 2.2 The First Assignee shall at all times hereafter subject to and with the benefit of the Government Lease Grant and these presents have the full and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Owner the First Assignee’s 's Unit assigned to the First Assignee by the said Assignment referred to in paragraph (E) of the Recitals above together with the appurtenances thereto and the entire rents and profits thereof. 3. 2.3 Each Undivided Share and the full and exclusive right and privilege to hold, use, occupy and enjoy any part of the Development shall be held by the person or persons from time to time entitled thereto subject to and with the benefit of the rights and privileges provided in the SECOND SCHEDULE hereto and the express covenants and provisions herein containedhereto. 4. 2.4 The Owner or Owners for the time being of each Undivided Share shall at all times hereafter be bound by and shall observe and perform the covenants, provisions and restrictions contained herein and in the THIRD SCHEDULE hereto and such Owner shall comply with the House Development Rules from time to time in force so far as the same are binding on such Owner. 5. 2.5 Subject to the Government LeaseGrant, every Owner shall have the full right and liberty without reference to the other Owners or other persons who may be interested in any other Undivided Share or Shares in any way whatsoever and without the necessity of making such other Owners or other persons a party to the transaction to sell, assign, mortgage, lease, license or otherwise dispose of or deal with his Undivided Shares together with the exclusive right and privilege to hold, use, occupy and enjoy such part or parts of the Development which may be held therewith PROVIDED THAT THAT:- (a) any such sale, assignment, mortgage, lease or licence shall be made expressly subject to and with the benefit of this Deed; and (b) the Residential Car Parking Spaces and Residential Motor Cycle Parking Spaces shall not be:- (i) assigned except (I) together with Undivided Shares giving the right of exclusive use and possession of a Residential Unit; or (II) to a person who is already the Owner of Undivided Shares in the Land and the Development with the right of exclusive use and possession of a Residential Unit; or (ii) underlet except to residents of the Residential Units AND in any event not more than three (3) in number of the total of the Residential Car Parking Spaces and the Residential Motor Cycle Parking Spaces shall be assigned to the Owner or underlet to the resident of any one Residential Unit. 6. 2.6 (a) The right to the exclusive use, occupation and enjoyment of any part of the Lot Land or the Development shall not be sold, assigned, mortgaged, charged, leased or otherwise dealt with separately from the Undivided Share with which the same is held PROVIDED ALWAYS THAT the provisions of this Clause shall not restrict extend to leases or tenancies the leasing or licensing terms of any Unit. (a) Every Owner, his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Development Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the same. (b) Every Owner with the exclusive right and privilege to hold, use, occupy and enjoy any Residential Unit together with his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Residential Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the same. (c) Every Owner shall at his own cost and expense be responsible for:- (i) the cleaning, repair, maintenance and replacement of all the windows of his Unit (including, in respect of any Residential Unit and for the avoidance of doubt, the openable window installed in or to any part of the Curtain Wall enclosing his Unit). In respect of the repair, maintenance and replacement of the openable windows install in or to any part of the Curtain Wall enclosing a Residential Unit, the Owner shall only engage contractors nominated and approved by the Manager to carry out such works. In respect of the replacement of the openable windows install in or to any part of the Curtain Wall enclosing his Unit, the Owner shall in addition use such materials as approved by the Manager; and (ii) cleaning of the internal surfaces of the Curtain Wall (including the openable windows and non-openable windows installed therein or thereto) enclosing his Unit. (d) In respect of the cleaning, repair, maintenance and replacement of the Curtain Wall enclosing the Commercial Accommodation, the Owner(s) of the Commercial Accommodation shall only engage contractors nominated and approved by the Manager to carry out such works. In respect of the replacement of any part of the Curtain Wall enclosing Commercial Accommodation, the Owner(s) of the Commercial Accommodation shall in addition use such materials as approved by the Manager. (e) The Owners of Units which shall not object, and shall render full cooperation, to the Manager for the purpose of cleaning the external surfaces of, and carrying out any works with regards to, the Curtain Wall of the Development. For the avoidance of doubt, the Manager shall not be responsible for exceed ten (i10) the cleaning, repair, maintenance or replacement of any openable window installed in or to any part of the Curtain Wall which forms part of a Residential Unit which shall be the relevant Owner’s responsibilityyears. (f) The following provisions shall apply to the Owner(s) of the Commercial Accommodation :- (i) Notwithstanding anything herein contained and without prejudice or any limitation to the rights reserved to the First Owner under this Deed, the Owner of the Commercial Accommodation (or Owners in accordance with the provisions in the relevant Sub-Deed (if any) in respect of the Commercial Accommodation) shall have the right to affix, erect, maintain, alter, renew, service, repair, replace and remove signs, signboards (illuminated or otherwise), advertisements, lightings, banners, posters or placards or other things or structures or visual images of whatsoever kind, size and description on the exterior or interior of the external walls and Curtain Wall (if any) enclosing the Commercial Accommodation or any part thereof for the purpose of advertising or otherwise and to grant the right to do so to any person PROVIDED HOWEVER THAT any such things, structures or visual images shall not, in the opinion of the Manager, unreasonably interfere with the use and enjoyment by other Owners of the parts of the Development owned by them and/or adversely affect the external appearance of the Development, and the opinion of the Manager in this respect shall be final and conclusive; and (ii) The sole Owner of the Commercial Accommodation shall have the right to enter into a Sub-Deed in respect of the Commercial Accommodation (the “Commercial Sub-DMC”) for the purpose of (i) allocating Undivided Shares to the Unit(s) within the Commercial Accommodation as common areas and common services and facilities for the common use and benefit of the Owners, occupiers and invitees of the Commercial Accommodation and allocate Undivided Shares thereto and (iii) making further provisions for the management, maintenance and servicing of the Commercial Accommodation and its equipment, services and apparatus and for the purpose of further defining and regulating the rights, interests and obligations of the Owners thereof Provided that the provisions of the Commercial Sub- DMC shall not conflict with the provisions of this Deed and shall not adversely affect or prejudice the rights, interests or obligations of the other Owners of the Development (other than the Owners of the Commercial Accommodation) under this Deed or any other previous Sub-Deed(s). (iii) The Owner(s) of the Commercial Accommodation shall have the right to have free and uninterrupted passage and running of electricity and various other services (if any) from and to the Curtain Wall forming part of the Commercial Accommodation (if any) through the ducts, cables, pipes, wires and other conducting media which now are or may at any time hereafter be in, under or passing through the Lot and the Development (including the Common Areas and Facilities) or any part or parts thereof for the proper use and enjoyment of the Curtain Walls forming part of the Commercial Accommodation (if any). (iv) Each Owner of the Commercial Accommodation, his tenants, servants, agents, invitees and licensees shall have the right to go pass and xxxxxx over and along the relevant part or parts of Residential Common Areas and Facilities for the following purposes only:- (1) fire escape or in cases of emergency provided that the relevant Owner of the Commercial Accommodation shall make good any damage to the Residential Common Areas and Facilities caused thereby; and (2) for the purpose of gaining access to relevant part or parts of the Development Common Areas and Facilities for purposes connected with the proper use and enjoyment of his part of the Land and Development if and only if (A) there is no other practicable means to enter into such part or parts of the Development Common Areas and Facilities and (B) where access to such part or parts of the Residential Common Areas and Facilities for such is unavoidable, and PROVIDED THAT such access shall be subject to such restrictions (including, without limitation, those in relation to the time and routing of such access) as may be imposed by the Manager. (g) Upon execution of this Deed, the First Owner shall assign to the Manager free of costs or consideration the whole of the Undivided Shares allocated to the Common Areas and Facilities under this Deed subject to and with the benefit of the Government Lease and this Deed. Such Undivided Shares together with the right to hold, use, occupy and enjoy the Common Areas and Facilities shall be held by the Manager as trustee for the benefit of all the Owners for the time being and in the event the Manager shall resign or be dismissed or wound up or a receiving order made against it and another manager appointed in its stead in accordance with these presents, then the Manager or the liquidator or the receiver (as the case may be) shall assign free of costs or consideration such Undivided Shares to the new manager upon the same trust PROVIDED THAT if an Owners’ Corporation is formed under the Building Management Ordinance it may require the Manager for the time being or its liquidator or receiver (as the case may be) to assign such Undivided Shares and transfer the management responsibility to it free of costs or consideration and in which event the Manager shall assign free of costs the Undivided Shares in respect of the Common Areas and Facilities and transfer free of costs the management responsibility to the Owners’ Corporation which shall hold such Undivided Shares on trust for the benefit of all the Owners.

Rights and Obligations of Owners. 1. 2.1 The First Owner shall at all times hereafter timeserheafter, subject to and with the benefit of the Government Lease Grant, have the sole and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Assignee the whole of the Lot Land and the Development together with the appurtenances thereto appurteneasncthereto and the entire rents and profits thereof SAVE AND EXCEPT the First Assignee’s 's Unit assigned to the First Assignee as aforesaid and SUBJECT TO the rights and privileges granted to the First Assignee by the aforesaid Assignment referred to in paragraph (E) of the Recitals above and SUBJECT TO the provisions TOptrhoevisions of this Deed. 2. 2.2 The First Assignee shall at all times hereafter subject to and with the benefit of the Government Lease Grant and these presents have the full and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Owner thet FOirwsner the First Assignee’s 's Unit assigned to the First Assignee by the said Assignment referred to in paragraph (E) of the Recitals above together with the appurtenances thereto and the entire rents and profits thereof. 3. 2.3 Each Undivided Share and the full and exclusive right and privilege to hold, use, occupy and enjoy any part of the Development shall be held by the person or persons from time to time entitled thereto subject to and with the benefit of the rights and privileges provided in the SECOND SCHEDULE hereto and the express covenants and provisions herein containedhereto. 4. 2.4 The Owner or Owners for the time being of beinogf each Undivided Share shall at all times hereafter be bound by and shall observe and perform the covenants, provisions and restrictions contained herein and in the THIRD SCHEDULE hereto and such Owner shall comply with the House Development Rules from time to time timetimtoe in force so far as the same are binding on such Owner. 5. 2.5 Subject to the Government LeaseGrant, every Owner shall have the full right and liberty without reference to the other Owners or other persons who may be interested in any other Undivided Share or Shares Sarhes in any way whatsoever and without the necessity of making such other Owners or other persons a party to the transaction to sell, assign, mortgage, lease, license or otherwise dispose of or deal with his Undivided Shares together with the exclusive right and privilege to hold, use, occupy and enjoy such part or parts of the Development which may be held therewith PROVIDED THAT THAT:- (a) any such sale, assignment, mortgage, lease or licence shall be made expressly subject to and with the benefit of this Ddeaend subject to Special Condition No.(51)(d) of the Government Grant; and (b) subject to Clause 2.6(c) of this Deed, the Residential Car Parking Spaces, the Residential House Parking Spaces and Residential Motor Cycle Parking Spaces shall not be-: (i) assigned except (I) together with Undivided Shares giving the right of exclusive use and possession of a Residential Unit; or (II) to a person who is already the Owner of Undivided Shares with the right of exclusive use and possession of a Residentiita; loUr n (ii) underlet except to residents of the Residential Units AND in any event not more than three (3) in number of the total of the Residential Car Parking Spaces, the Residential House Parking Spaces and the Residential Motor Cycle Parking Scpeas shall be assigned to the Owner or underlet to the resident of any one Residential Unit. 6. (a) The right to the exclusive use, occupation and enjoyment of any part of the Lot Land or the Development shall not be sold, assigned, mortgaged, charged, leased or otherwise dealt with separately from the Undivided Share with which the same is held PROVIDED ALWAYS THAT the provisions of this Clause shall not restrict extend to leases or tenancies the leasing or licensing terms of any Unit. which shall not exceed ten (a10) Every Owner, his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Development Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the sameyears. (b) Every Owner with The right to the exclusive right and privilege to hold, use, occupy and enjoy any Residential Unit together with his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Residential Common Areas and Facilities for all purposes connected with the proper use eu,s occupation and enjoyment of the samebalcony, terrace, flat roof, roof, staircase, a-cironditioning platform, garden, external walls or fence walls appertaining to a Residential Unit shall not be sold, assigned, mortgaged, charged, leased or otherwise dealt wsiethparately from a Residential Unit with which sucbhalcony, terrace,laft roof, roof, staircase, a-ir conditioning platform, garden, external walls or fence walls is held. (c) Every Owner shall at his own cost and expense be responsible for:- (i) the cleaning, repair, maintenance and replacement of all the windows of his Unit (including, in respect of any Residential Unit and for the avoidance of doubt, the openable window installed in or to any part of the Curtain Wall enclosing his Unit). In respect of the repair, maintenance and replacement of the openable windows install in or to any part of the Curtain Wall enclosing a Residential Unit, the Owner shall only engage contractors nominated and approved by the Manager to carry out such works. In respect of the replacement of the openable windows install in or to any part of the Curtain Wall enclosing his Unit, the Owner shall in addition use such materials as approved by the Manager; and (ii) cleaning of the internal surfaces of the Curtain Wall (including the openable windows and non-openable windows installed therein or thereto) enclosing his Unit. (d) In respect of the cleaning, repair, maintenance and replacement of the Curtain Wall enclosing the Commercial Accommodation, the Owner(s) of the Commercial Accommodation shall only engage contractors nominated and approved by the Manager to carry out such works. In respect of the replacement of any part of the Curtain Wall enclosing Commercial Accommodation, the Owner(s) of the Commercial Accommodation shall in addition use such materials as approved by the Manager. (e) The Owners of Units shall not object, and shall render full cooperation, right to the Manager for the purpose of cleaning the external surfaces ofexclusive use, and carrying out any works with regards to, the Curtain Wall of the Development. For the avoidance of doubt, the Manager shall not be responsible for (i) the cleaning, repair, maintenance or replacement of any openable window installed in or to any part of the Curtain Wall which forms part of a Residential Unit which shall be the relevant Owner’s responsibility. (f) The following provisions shall apply to the Owner(s) of the Commercial Accommodation :- (i) Notwithstanding anything herein contained and without prejudice or any limitation to the rights reserved to the First Owner under this Deed, the Owner of the Commercial Accommodation (or Owners in accordance with the provisions in the relevant Sub-Deed (if any) in respect of the Commercial Accommodation) shall have the right to affix, erect, maintain, alter, renew, service, repair, replace and remove signs, signboards (illuminated or otherwise), advertisements, lightings, banners, posters or placards or other things or structures or visual images of whatsoever kind, size and description on the exterior or interior of the external walls and Curtain Wall (if any) enclosing the Commercial Accommodation or any part thereof for the purpose of advertising or otherwise and to grant the right to do so to any person PROVIDED HOWEVER THAT any such things, structures or visual images shall not, in the opinion of the Manager, unreasonably interfere with the use and enjoyment by other Owners of the parts of the Development owned by them and/or adversely affect the external appearance of the Development, and the opinion of the Manager in this respect shall be final and conclusive; and (ii) The sole Owner of the Commercial Accommodation shall have the right to enter into a Sub-Deed in respect of the Commercial Accommodation (the “Commercial Sub-DMC”) for the purpose of (i) allocating Undivided Shares to the Unit(s) within the Commercial Accommodation as common areas and common services and facilities for the common use and benefit of the Owners, occupiers and invitees of the Commercial Accommodation and allocate Undivided Shares thereto and (iii) making further provisions for the management, maintenance and servicing of the Commercial Accommodation and its equipment, services and apparatus and for the purpose of further defining and regulating the rights, interests and obligations of the Owners thereof Provided that the provisions of the Commercial Sub- DMC shall not conflict with the provisions of this Deed and shall not adversely affect or prejudice the rights, interests or obligations of the other Owners of the Development (other than the Owners of the Commercial Accommodation) under this Deed or any other previous Sub-Deed(s). (iii) The Owner(s) of the Commercial Accommodation shall have the right to have free and uninterrupted passage and running of electricity and various other services (if any) from and to the Curtain Wall forming part of the Commercial Accommodation (if any) through the ducts, cables, pipes, wires and other conducting media which now are or may at any time hereafter be in, under or passing through the Lot and the Development (including the Common Areas and Facilities) or any part or parts thereof for the proper use occupation and enjoyment of the Curtain Walls forming part of the Commercial Accommodation (if any)Residential House Parking Space appertaining to a Residential House shall not be sold, assigned, mortgaged, charged, leased or otherwise dealt with separately from a Residential House with which such Residential House Parking Space is held. (iv) Each Owner of the Commercial Accommodation, his tenants, servants, agents, invitees and licensees shall have the right to go pass and xxxxxx over and along the relevant part or parts of Residential Common Areas and Facilities for the following purposes only:- (1) fire escape or in cases of emergency provided that the relevant Owner of the Commercial Accommodation shall make good any damage to the Residential Common Areas and Facilities caused thereby; and (2) for the purpose of gaining access to relevant part or parts of the Development Common Areas and Facilities for purposes connected with the proper use and enjoyment of his part of the Land and Development if and only if (A) there is no other practicable means to enter into such part or parts of the Development Common Areas and Facilities and (B) where access to such part or parts of the Residential Common Areas and Facilities for such is unavoidable, and PROVIDED THAT such access shall be subject to such restrictions (including, without limitation, those in relation to the time and routing of such access) as may be imposed by the Manager. (g) 2.7 Upon execution of this Deed, the Xxxxxx,e First Owner shall assign to the Manager as trustee for all Owners free of costs or consideration the whole of the Undivided Shares allocated to the Common Areas and Facilities under this Deed together with the Common Areas and Facilities subject to and with the benefit of the Government Lease Grant and this Deed. Such Undivided Shares together with the right to hold, use, occupy and enjoy the Common Areas and Facilities shall be held by the Manager as trustee for the benefit of all the Owners for the time being and in In the event the appointment of the Manager shall resign or be dismissed or wound up or a receiving order made against it is terminated and another manager appointed in its stead in accordance with these presents, then the Manager or the liquidator or the receiver (as the case may be) shall assign free of costs or consideration such Undivided Shares to the new manager upon the same trust PROVIDED THAT if an Owners’ Corporation is formed under the Building Management Ordinance it may require the Manager for the time being or its liquidator or receiver (as the case may be) to assign such Undivided Shares and transfer the management responsibility to it free of costs or consideration and in which event the Manager shall assign free of costs the Undivided Shares in respect of allocated to the Common Areas and Facilities and transfer free of costs the management responsibility to the Owners’ Corporation which shall hold such Undivided Shares on trust for the benefit of all the Owners.

Rights and Obligations of Owners. 1. 2.1 The First Owner shall at all times hereafter subject to and with the benefit of the Government Lease Grant have the sole and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Assignee the whole of the Lot Land and the Development together with the appurtenances thereto and the entire rents and profits thereof SAVE AND EXCEPT the First Assignee’s Unit assigned to the First Assignee as aforesaid and SUBJECT TO the rights and privileges granted to the First Assignee by the aforesaid Assignment referred to in paragraph (E) of the Recitals above and SUBJECT TO the provisions of this Deed. 2. 2.2 The First Assignee shall at all times hereafter subject to and with the benefit of the Government Lease Grant and these presents have the full and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Owner the First Assignee’s Unit assigned to the First Assignee by the said Assignment referred to in paragraph (E) of the Recitals above together with the appurtenances thereto and the entire rents and profits thereof. 3. 2.3 Each Undivided Share and the full and exclusive right and privilege to hold, use, occupy and enjoy any part of the Development shall be held by the person or persons from time to time entitled thereto subject to and with the benefit of the rights and privileges provided in the SECOND SCHEDULE hereto and the express covenants and provisions herein contained. 4. 2.4 The Owner or Owners for the time being of each Undivided Share shall at all times hereafter be bound by and shall observe and perform the covenants, provisions and restrictions contained herein and in the THIRD SCHEDULE hereto and such Owner shall comply with the House Rules from time to time in force so far as the same are binding on such Owner. 5. 2.5 Subject to the Government LeaseGrant, every Owner shall have the full right and liberty without reference to the other Owners or other persons who may be interested in any other Undivided Share or Shares in any way whatsoever and without the necessity of making such other Owners or other persons a party to the transaction to sell, assign, mortgage, lease, license or otherwise dispose of or deal with his Undivided Shares together with the exclusive right and privilege to hold, use, occupy and enjoy such part or parts of the Development which may be held therewith PROVIDED THAT any such sale, assignment, mortgage, lease or licence shall be made expressly subject to and with the benefit of this Deed. 6. (a) The right to the exclusive use, occupation and enjoyment of any part of the Lot Land or the Development shall not be sold, assigned, mortgaged, charged, leased or otherwise dealt with separately from the Undivided Share with which the same is held PROVIDED ALWAYS THAT the provisions of this Clause shall not restrict the leasing or licensing of any Unit. (b) The right to the exclusive use, occupation and enjoyment of balcony, utility platform, flat roof or roof appertaining to a Residential Unit shall not be sold, assigned, mortgaged, charged, leased or otherwise dealt with separately from a Residential Unit with which such balcony, utility platform, flat roof or roof is held. (a) Every Owner, his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Development Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the same. (b) Every Owner with the exclusive right and privilege to hold, use, occupy and enjoy any Residential Unit together with his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Residential Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the same. (c) Every In each of the above cases, the right and liberty shall be subject to the provisions of this Deed, the rights of the Manager and the House Rules. (a) Notwithstanding anything herein contained and without prejudice or any limitation to the rights reserved to the First Owner under this Deed and subject to observance and compliance with any applicable laws and regulations, an Owner of the Commercial Accommodation (or part(s) thereof) shall at his own cost have the right to affix, erect, maintain, alter, renew, service, repair, replace and expense remove canopies and awnings onto the shop front or to grant the right to do so to any person PROVIDED THAT any such canopies and awnings shall not unreasonably interfere with the use and enjoyment by other Owners of their Units and shall (unless the relevant part(s) of the Commercial Accommodation is owned by the First Owner) be responsible for:-subject to the prior written consent of the Manager who may in its discretion impose conditions to the consent and FOR THIS PURPOSE, an Owner of the Commercial Accommodation (or part(s) thereof) shall have:- (i) the cleaning, repair, maintenance right to enter into and replacement of all the windows of his Unit (including, in respect of any Residential Unit and for the avoidance of doubt, the openable window installed in or to upon any part of the Curtain Wall enclosing his Unit). In respect Land and the Development including all parts of the repairroofs, maintenance flat roofs, canopy(ies) and replacement related parapet(s) (save and except those parts of the openable windows install Land and the Development the sole and exclusive right to the use enjoyment and occupation of which have been assigned or otherwise disposed of to an Owner) with or without workmen and equipment at all reasonable times on giving prior written notice (save in case of emergency) and the right to affix or to dock gondolas on such roofs, flat roofs, canopy(ies) and related parapet(s) for any part or all of the Curtain Wall enclosing a Residential Unit, the Owner shall only engage contractors nominated and approved by the Manager to carry out such works. In respect of the replacement of the openable windows install in or to any part of the Curtain Wall enclosing his Unit, the Owner shall in addition use such materials as approved by the Managerpurposes aforesaid; and (ii) cleaning of the internal surfaces of right to license or otherwise permit or grant the Curtain Wall (including right so to do to any other person on such terms as the openable windows and non-openable windows installed therein or thereto) enclosing his Unit. (d) In respect of the cleaning, repair, maintenance and replacement of the Curtain Wall enclosing the Commercial Accommodation, the Owner(s) Owner of the Commercial Accommodation (or part(s) thereof) may deem fit; (b) An Owner of the Commercial Accommodation (or part(s) thereof) shall only engage contractors nominated before carrying out any works in relation to his Unit effect and keep at all times during the carrying out of such works comprehensive third party insurance cover in such amount and scope as shall be determined by the Manager or the Owners’ Committee and with a reputable insurance company as shall be approved by the Manager to carry out such works. In respect and endorsing the respective interests of the replacement of any part Manager, all Owners of the Curtain Wall enclosing Commercial Accommodation, Development and the Owner(s) of the Commercial Accommodation shall in addition use such materials as approved by the ManagerOwners’ Corporation (if formed). (e) The Owners of Units shall not object, and shall render full cooperation, to the Manager for the purpose of cleaning the external surfaces of, and carrying out any works with regards to, the Curtain Wall of the Development. For the avoidance of doubt, the Manager shall not be responsible for (i) the cleaning, repair, maintenance or replacement of any openable window installed in or to any part of the Curtain Wall which forms part of a Residential Unit which shall be the relevant Owner’s responsibility. (f) The following provisions shall apply to the Owner(s) of the Commercial Accommodation :- (ia) Notwithstanding anything herein contained and without prejudice or any limitation to the rights reserved to the First Owner under this Deed, the an Owner of the Commercial Accommodation (or Owners in accordance with the provisions in the relevant Sub-Deed (if anypart(s) in respect of the Commercial Accommodationthereof) shall have the right to affix, erect, maintain, alter, renew, service, repair, replace and remove signs, signboards signboards, advertisements (illuminated or otherwise), advertisements, lightings, banners, posters or placards or lighting fixtures and any other things or fixtures and structures or visual images of whatsoever kind, size and description on kind (the exterior or interior of “Signs”) onto the external walls and Curtain Wall (if any) enclosing of the Commercial Accommodation (or any part thereof part(s) thereof) for the purpose of advertising or otherwise and to grant the right to do so to any person PROVIDED HOWEVER THAT any such things, structures or visual images Signs shall not, in the opinion of the Manager, not unreasonably interfere with the use and enjoyment by other Owners of their Units and shall (unless the Commercial Accommodation (or part(s) thereof) is owned by the First Owner) be subject to the prior written consent of the Manager who may in its discretion impose conditions to the consent and FOR THIS PURPOSE, an Owner of the Commercial Accommodation (or part(s) thereof) shall have:- (i) the right to enter into and upon any part of the Land and the Development including all parts of the Development owned by them and/or adversely affect the external appearance roofs, flat roofs, canopy(ies) and related parapet(s) (save and except those parts of the Development, Land and the opinion Development the sole and exclusive right to the use enjoyment and occupation of which have been assigned or otherwise disposed of to an Owner) with or without workmen and equipment at all reasonable times on giving prior written notice (save in case of emergency) and the right to affix or dock gondolas on such roofs, flat roofs, canopy(ies) and related parapet(s) for any or all of the Manager in this respect shall be final and conclusivepurposes aforesaid; and (ii) The sole the right to license or otherwise permit or grant the right so to do to any other person on such terms as the Owner of the Commercial Accommodation shall have the right to enter into a Sub-Deed in respect (or part(s) thereof) may deem fit; (b) An Owner of the Commercial Accommodation (the “Commercial Sub-DMC”or part(s) for the purpose of (ithereof) allocating Undivided Shares shall before carrying out any works in relation to the Unit(s) within Signs effect and keep at all times during the Commercial Accommodation carrying out of such works comprehensive third party insurance cover in such amount and scope as common areas shall be determined by the Manager or the Owners’ Committee and common services with a reputable insurance company as shall be approved by the Manager and facilities for endorsing the common use and benefit respective interests of the OwnersManager, occupiers and invitees of the Commercial Accommodation and allocate Undivided Shares thereto and (iii) making further provisions for the management, maintenance and servicing of the Commercial Accommodation and its equipment, services and apparatus and for the purpose of further defining and regulating the rights, interests and obligations of the Owners thereof Provided that the provisions of the Commercial Sub- DMC shall not conflict with the provisions of this Deed and shall not adversely affect or prejudice the rights, interests or obligations of the other all Owners of the Development and the Owners’ Corporation (other than the Owners of the Commercial Accommodation) under this Deed or any other previous Sub-Deed(sif formed). (iii) The Owner(s) of the Commercial Accommodation shall have the right to have free and uninterrupted passage and running of electricity and various other services (if any) from and to the Curtain Wall forming part of the Commercial Accommodation (if any) through the ducts, cables, pipes, wires and other conducting media which now are or may at any time hereafter be in, under or passing through the Lot and the Development (including the Common Areas and Facilities) or any part or parts thereof for the proper use and enjoyment of the Curtain Walls forming part of the Commercial Accommodation (if any). (iv) Each Owner of the Commercial Accommodation, his tenants, servants, agents, invitees and licensees shall have the right to go pass and xxxxxx over and along the relevant part or parts of Residential Common Areas and Facilities for the following purposes only:- (1) fire escape or in cases of emergency provided that the relevant Owner of the Commercial Accommodation shall make good any damage to the Residential Common Areas and Facilities caused thereby; and (2) for the purpose of gaining access to relevant part or parts of the Development Common Areas and Facilities for purposes connected with the proper use and enjoyment of his part of the Land and Development if and only if (A) there is no other practicable means to enter into such part or parts of the Development Common Areas and Facilities and (B) where access to such part or parts of the Residential Common Areas and Facilities for such is unavoidable, and PROVIDED THAT such access shall be subject to such restrictions (including, without limitation, those in relation to the time and routing of such access) as may be imposed by the Manager. (g) 2.10 Upon execution of this Deed, the First Owner shall assign to the Manager as trustee for all Owners free of costs or consideration the whole of the Undivided Shares allocated to the Common Areas and Facilities under this Deed together with the Common Areas and Facilities subject to and with the benefit of the Government Lease Grant and this Deed. Such Undivided Shares together with the right to hold, use, occupy and enjoy the Common Areas and Facilities shall be held by the Manager as trustee for the benefit of all the Owners for the time being and in In the event the Manager shall resign or be dismissed or wound up or a receiving order made against it and another manager appointed in its stead in accordance with these presents, then the Manager or the liquidator or the receiver (as the case may be) shall assign free of costs or consideration such Undivided Shares together with the Common Areas and Facilities to the new manager upon the same trust PROVIDED THAT if an Owners’ Corporation is formed under the Building Management Ordinance it may require the Manager for the time being or its liquidator or receiver (as the case may be) to assign such Undivided Shares together with the Common Areas and Facilities and transfer the management responsibility to it free of costs or consideration and in which event the Manager shall assign free of costs the Undivided Shares in respect of allocated to the Common Areas and Facilities together with the Common Areas and Facilities and transfer free of costs the management responsibility to the Owners’ Corporation which shall hold such Undivided Shares on trust for the benefit of all the Owners.

Rights and Obligations of Owners. 1. 2.1 The First Owner shall at all times hereafter hereafter, subject to and with the benefit of the Government Lease Grant, have the sole and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Assignee the whole of the Lot Land and the Development together with the appurtenances thereto and the entire rents and profits thereof SAVE AND EXCEPT the First Assignee’s Unit assigned to the First Assignee as aforesaid and SUBJECT TO the rights and privileges granted to the First Assignee by the aforesaid Assignment referred to in paragraph (E) of the Recitals above and SUBJECT TO the provisions of this Deed. 2. 2.2 The First Assignee shall at all times hereafter subject to and with the benefit of the Government Lease Grant and these presents have the full and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Owner the First Assignee’s Unit assigned to the First Assignee by the said Assignment referred to in paragraph (E) of the Recitals above together with the appurtenances thereto and the entire rents and profits thereof. 3. 2.3 Each Undivided Share and the full sole and exclusive right and privilege to hold, use, occupy and enjoy any part of the Development shall be held by the person or persons Owner from time to time entitled thereto of such Undivided Share subject to and with the benefit of the rights easements, rights, privileges and privileges obligations, and the covenants and provisions contained in this Deed (including but not limited to those provided in the SECOND SCHEDULE hereto and the express covenants and provisions herein containedTHIRD SCHEDULE hereto). 4. 2.4 The Owner or Owners for the time being of each Undivided Share shall at all times hereafter be bound by and shall observe and perform the covenants, provisions and restrictions contained herein and in the THIRD SCHEDULE hereto and such Owner shall comply with the House Development Rules from time to time in force so far as the same are binding on such Owner. 5. Subject to the Government Lease, every 2.5 Every Owner shall have the full right and liberty without reference to the any other Owners Owner or other persons any person who may be interested in any other Undivided Share or Shares Share(s) in any way whatsoever and without the necessity of making such other Owners Owner or other persons such person a party to the transaction to sell, assign, mortgage, charge, lease, license or otherwise dispose of or deal with his Undivided Shares Share(s) or interest of and in the Land and the Development together with the sole and exclusive right and privilege to hold, use, occupy and enjoy such part or parts part(s) of the Development which may be held therewith PROVIDED THAT THAT:- (a) any such sale, assignment, mortgage, lease or licence transaction shall be made expressly subject to and with the benefit of this Deed; and (b) the Parking Spaces shall not be:- (i) assigned except (I) together with Undivided Shares giving the right of exclusive use and possession of a Residential Unit; or (II) to a person who is already the Owner of Undivided Shares in the Land and the Development with the right of exclusive use and possession of a Residential Unit; or (ii) underlet except to residents of the Residential Units PROVIDED THAT in any event not more than three (3) in number of the total of the Residential Car Parking Spaces and the Residential Motor Cycle Parking Spaces shall be assigned to the Owner or underlet to the resident of any one Flat and not more than three (3) in number of the total of the Residential Car Parking Spaces and the Residential Motor Cycle Parking Spaces shall be assigned to the Owner or underlet to the resident of any one House. 6. (a) The sole and exclusive right and privilege to the exclusive hold, use, occupation occupy and enjoyment of enjoy any part of the Lot or the Development shall not be sold, assigned, mortgaged, charged, leased or otherwise dealt with separately from the Undivided Share Share(s) with which the same is held PROVIDED ALWAYS THAT that the provisions of this Clause Clause, subject to the Government Grant, do not extend to any lease, tenancy or licence with a term not exceeding ten (10) years. (b) The right to the exclusive use, occupation and enjoyment of (if any) balcony, utility platform, flat roof, roof, garden, stairhood, staircase, conservatory, lobby area, electrical room, telecommunication cabinet and water meter cabinet appertaining to a Flat shall not restrict be sold, assigned, mortgaged, charged, leased or otherwise dealt with separately from a Flat with which (if any) such balcony, utility platform, flat roof, roof, garden, stairhood, staircase, conservatory, lobby area, electrical room, telecommunication cabinet and water meter cabinet is held. (c) The right to the leasing exclusive use, occupation and enjoyment of (if any) balcony, flat roof, roof, garden, swimming pool, stairhood, staircase, lift lobbies, lobby area, electrical cabinet, electrical room, telecommunication cabinet and water meter cabinet appertaining to a House shall not be sold, assigned, mortgaged, charged, leased or licensing of any Unitotherwise dealt with separately from a House with which (if any) such balcony, flat roof, roof, garden, swimming pool, stairhood, staircase, lift lobbies, lobby area, electrical cabinet, electrical room, telecommunication cabinet and water meter cabinet is held. (a) Every Owner, his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Development Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the samehis Unit. (b) Every Owner with the exclusive right and privilege to holdof a Residential Unit, use, occupy and enjoy any Residential Unit together with his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Residential Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the samehis Residential Unit. (c) Every Owner shall at his own cost and expense be responsible for:- (i) the cleaning, repair, maintenance and replacement of all the windows of his Unit (including, in respect of any Residential Unit and for the avoidance of doubt, the openable window installed in or to any part of the Curtain Wall enclosing his Unit). In respect of the repair, maintenance and replacement of the openable windows install in or to any part of the Curtain Wall enclosing a Residential Unit, the Owner shall only engage contractors nominated and approved by the Manager to carry out such works. In respect of the replacement of the openable windows install in or to any part of the Curtain Wall enclosing his Unit, the Owner shall in addition use such materials as approved by the Manager; and (ii) cleaning of the internal surfaces of the Curtain Wall (including the openable windows and non-openable windows installed therein or thereto) enclosing his Unit. (d) In respect of the cleaning, repair, maintenance and replacement of the Curtain Wall enclosing the Commercial Accommodation, the Owner(s) of the Commercial Accommodation shall only engage contractors nominated and approved by the Manager to carry out such works. In respect of the replacement of any part of the Curtain Wall enclosing Commercial Accommodation, the Owner(s) of the Commercial Accommodation shall in addition use such materials as approved by the Manager. (e) The Owners of Units shall not object, and shall render full cooperation, to the Manager for the purpose of cleaning the external surfaces of, and carrying out any works with regards to, the Curtain Wall of the Development. For the avoidance of doubt, the Manager shall not be responsible for (i) the cleaning, repair, maintenance or replacement of any openable window installed in or to any part of the Curtain Wall which forms part of a Residential Unit which shall be the relevant Owner’s responsibility. (f) The following provisions shall apply to the Owner(s) of the Commercial Accommodation :- (i) Notwithstanding anything herein contained and without prejudice or any limitation to the rights reserved to the First Owner under this Deed, the Owner of the Commercial Accommodation (or Owners in accordance with the provisions in the relevant Sub-Deed (if any) in respect of the Commercial Accommodation) shall have the right to affix, erect, maintain, alter, renew, service, repair, replace and remove signs, signboards (illuminated or otherwise), advertisements, lightings, banners, posters or placards or other things or structures or visual images of whatsoever kind, size and description on the exterior or interior of the external walls and Curtain Wall (if any) enclosing the Commercial Accommodation or any part thereof for the purpose of advertising or otherwise and to grant the right to do so to any person PROVIDED HOWEVER THAT any such things, structures or visual images shall not, in the opinion of the Manager, unreasonably interfere with the use and enjoyment by other Owners of the parts of the Development owned by them and/or adversely affect the external appearance of the Development, and the opinion of the Manager in this respect shall be final and conclusive; and (ii) The sole Owner of the Commercial Accommodation shall have the right to enter into a Sub-Deed in respect of the Commercial Accommodation (the “Commercial Sub-DMC”) for the purpose of (i) allocating Undivided Shares to the Unit(s) within the Commercial Accommodation as common areas and common services and facilities for the common use and benefit of the Owners, occupiers and invitees of the Commercial Accommodation and allocate Undivided Shares thereto and (iii) making further provisions for the management, maintenance and servicing of the Commercial Accommodation and its equipment, services and apparatus and for the purpose of further defining and regulating the rights, interests and obligations of the Owners thereof Provided that the provisions of the Commercial Sub- DMC shall not conflict with the provisions of this Deed and shall not adversely affect or prejudice the rights, interests or obligations of the other Owners of the Development (other than the Owners of the Commercial Accommodation) under this Deed or any other previous Sub-Deed(s). (iii) The Owner(s) of the Commercial Accommodation shall have the right to have free and uninterrupted passage and running of electricity and various other services (if any) from and to the Curtain Wall forming part of the Commercial Accommodation (if any) through the ducts, cables, pipes, wires and other conducting media which now are or may at any time hereafter be in, under or passing through the Lot and the Development (including the Common Areas and Facilities) or any part or parts thereof for the proper use and enjoyment of the Curtain Walls forming part of the Commercial Accommodation (if any). (iv) Each Owner of the Commercial Accommodation, his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the relevant part or parts of Residential Carpark Common Areas and Facilities for all purposes connected with the following purposes only:-proper use and enjoyment of the Visitors’ Parking Spaces and the Residential Car Parking Spaces for Disabled Persons, and the electrical cabinet (if any), electrical room (if any), lobby area (if any), telecommunication cabinet (if any) and water meter cabinet (if any) forming part of his Residential Unit on Upper B1 Floor or B1 Floor (as the case may be). (1d) fire escape or in cases of emergency provided that the relevant Every Owner of a Flat, his tenants, servants, agents, invitees and licensees shall have the Commercial Accommodation shall make good any damage full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Residential Common Areas and Facilities caused thereby; and (2) for the purpose of gaining access to relevant part or parts of the Development Tower Common Areas and Facilities for all purposes connected with the proper use and enjoyment of his part Flat. (e) Every Owner of a House, his tenants, servants, agents, invitees and licensees shall have the Land full right and Development if liberty (in common with the Manager and only if (Aothers having like rights) there is no other practicable means to enter into such part or parts of the Development Common Areas go pass and Facilities xxxxxx over and (B) where access along and to such part or parts of use the Residential House Common Areas and Facilities for such is unavoidableall purposes connected with the proper use and enjoyment of his House. (f) Every Owner of a Parking Space, his tenants, servants, agents, invitees and PROVIDED THAT such access licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Carpark Common Areas and Facilities for all purposes connected with the proper use and enjoyment of his Parking Space. (g) The Owner of the Kindergarten, his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Carpark Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the part of the Kindergarten located on B2 Floor. (h) In each of the above cases the right and liberty shall be subject to the provisions of this Deed, the rights of the Manager and the Development Rules. 2.8 Subject to the Government Grant, the Owner or occupiers of the Kindergarten shall have the exclusive right to erect or affix or paint on or to the exterior of, the external walls or curtain wall of the Kindergarten flags, poles, banners, sunshades, sculptures, signs, signboards and advertisements (collectively called “Signs”) subject to the following conditions:- (a) No Signs shall extend beyond the boundaries of the Kindergarten. (b) Detailed specifications, plans and drawings of the Signs and the erection, fixing or installation works thereof (collectively called “Signage Installation Works”) shall first be submitted for approval by the Manager and no Signs shall be erected or affixed or painted and no Signage Installation Works shall be carried out without the prior written approval of the Manager. (c) In addition, all other necessary consents and permissions from the relevant Government authorities shall first be obtained before commencement of the Signage Installation Works and all relevant laws, regulations and rules in force in Hong Kong from time to time shall be complied with. (d) The Signs and the Signage Installation Works shall not cause any damage to the Development or cause the maximum loading weight of the relevant part of the external walls of the Kindergarten to be exceeded or cause any material nuisance to the other Owners and occupiers of the Development or otherwise interfere with the use and enjoyment by the other Owners and occupiers of their Units. (e) The Owner or occupier of the Kindergarten shall insure and keep insured the Signs and the Signage Installation Works owned by him against third party risks or liability in such restrictions sum as the Manager shall require and the Owner or occupier of the Kindergarten shall indemnify and keep indemnified the Manager and all other Owners and occupiers of the Development against all losses damages liabilities claims expenses and costs in respect of the Signage Installation Works and the Signs and any damage caused to any person or property in connection therewith. (includingf) The Owner and occupier of the Kindergarten shall at his sole cost and expense paint, repair, maintain and keep in good clean and safe repair and condition at all times to the reasonable satisfaction of the Manager his own external wall spaces and any part thereof and the Signs and any other signs, signboards, advertisements, relevant supporting frames thereof, or other erections, installations, fixtures or fittings thereto or thereon and if there shall be any default by the Owner or occupier of the Kindergarten, the Manager, without limitationprejudice to other rights and remedies, those in relation shall have the right to carry out all necessary painting repair and maintenance works at the time costs and routing expenses of the defaulting Owner or occupier of the Kindergarten who shall bear and pay all such access) as may be imposed costs and expenses on demand by the Manager. (ga) Upon execution of this Deed, the First Owner shall assign to the Manager as trustee for all Owners free of costs or consideration the whole of the Undivided Shares allocated to the Common Areas and Facilities under this Deed together with the Common Areas and Facilities subject to and with the benefit of the Government Lease Grant and this Deed. Such Undivided Shares together with the right to hold, use, occupy and enjoy the Common Areas and Facilities shall be held by the Manager as trustee for the benefit of all the Owners for the time being and in . (b) In the event the Manager shall resign or be dismissed or wound up or a receiving order made against it and another manager appointed in its stead in accordance with these presents, then the Manager or the liquidator or the receiver (as the case may be) shall assign free of costs or consideration such the Undivided Shares allocated to the Common Areas and Facilities together with the Common Areas and Facilities to the new manager upon the same trust PROVIDED THAT if trust. (c) If an Owners’ Corporation is formed under the Building Management Ordinance formed, it may require the Manager for the time being or its liquidator or receiver (as the case may be) to assign such the Undivided Shares allocated to the Common Areas and Facilities together with the Common Areas and Facilities and transfer the management responsibility to it free of costs or consideration and in which event event, the Manager shall assign free of costs the Undivided Shares in respect of allocated to the Common Areas and Facilities together with the Common Areas and Facilities and transfer free of costs the management responsibility to the Owners’ Corporation which shall hold such the Undivided Shares allocated to the Common Areas and Facilities together with the Common Areas and Facilities on trust for the benefit of all the Owners.

Rights and Obligations of Owners. 1. The First Owner shall at all times hereafter hereafter, subject to and with the benefit of the Government Lease and this Deed and subject to the Security Documents in so far as they are still subsisting have the sole and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Assignee the whole of the Lot and the Development Estate together with the appurtenances thereto and the entire rents and profits thereof SAVE AND EXCEPT the First Assignee’s Unit said premises assigned to the First Assignee as aforesaid and SUBJECT TO the rights Common Areas and privileges granted to the First Assignee by the Assignment referred to in paragraph (E) of the Recitals above and SUBJECT TO the provisions of this DeedFacilities. 2. The First Assignee shall at all times hereafter subject to and with the benefit of the Government Lease and these presents this Deed have the full sole and exclusive right and privilege to hold, use, occupy and enjoy to the exclusion of the First Owner the First Assignee’s Unit said premises assigned to the First Assignee by the said Assignment referred to in paragraph (E) of the Recitals above together with the appurtenances thereto and the entire rents and profits thereofthereof and subject to and with the benefit of the rights and privileges granted to the First Assignee by the said Assignment. 3. Each Undivided Share and the full and exclusive right and privilege to hold, use, occupy and enjoy any part of the Development Estate shall be held by the person or persons from time to time entitled thereto subject to and with the benefit of the rights and privileges provided in the SECOND SCHEDULE hereto and the express covenants and provisions herein containedcontained and contained in the Government Lease. 4. The Owner or Owners for the time being of each Undivided Share shall at all times hereafter be bound by and shall observe and perform the covenants, provisions and restrictions contained herein and in the THIRD SCHEDULE hereto and such Owner shall comply with contained in the House Rules from time to time in force so far as the same are binding on such OwnerGovernment Lease. 5. Subject to the Government LeaseLease and this Deed, every Owner shall have the full right and liberty without reference to the other Owners or other persons who may be interested in any other Undivided Share or Undivided Shares in any way whatsoever and without the necessity of making such other Owners or other persons a party to the transaction to sell, assign, mortgage, lease, license or otherwise dispose of or deal with his Undivided Shares together with the exclusive right and privilege to hold, use, occupy and enjoy such part or parts of the Development Estate which may be held therewith PROVIDED THAT any such sale, assignment, mortgage, lease or licence shall be made expressly subject to and with the benefit of this DeedDeed and PROVIDED FURTHER THAT every such assignment, mortgage, lease or underletting for a term of more than three years or other disposal shall be registered at the Land Registry. 6. (a) The right to the exclusive use, occupation and enjoyment of any part of the Lot or the Development Estate shall not be sold, assigned, mortgaged, charged, leased or otherwise dealt with separately from the Undivided Share with which the same is held PROVIDED ALWAYS THAT the provisions of this Clause shall, subject to the Government Lease, not extend to leases or tenancies the terms of which shall not restrict exceed ten (10) years. (b) The right to the leasing exclusive use occupation and enjoyment of a swimming pool, any garage, any garden(s), any gas heater cabinet(s), any yard, upper roof, roofs, flat roofs, external walls, a lift, a filtration plant room, a staircase or licensing a stair hood shall not be sold assigned mortgaged charged leased or otherwise dealt with separately from the House with which the swimming pool, the garage, the gas heater cabinets, the yard, the upper roof, the external walls, the garden(s), the roofs, the flat roofs, the lift, the filtration plant room, the staircase or the stair hood is/are held. (c) Any House shall not be partitioned nor sold assigned mortgaged charged leased or otherwise dealt with separately from other parts or portions of any Unitthe House. (a) Every Owner, his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Development Common Areas and Facilities for all purposes connected with the proper use and enjoyment of his House SUBJECT ALWAYS TO the sameprovisions herein, the rights of the Manager and the House Rules. (b) Every Owner with the exclusive right and privilege to hold, use, occupy and enjoy any Residential Unit together with his tenants, servants, agents, invitees and licensees shall have the full right and liberty (in common with the Manager and others having like rights) to go pass and xxxxxx over and along and to use the Residential Common Areas and Facilities for all purposes connected with the proper use and enjoyment of the same. (c) Every Owner shall at his own cost and expense be responsible for:- (i) the cleaning, repair, maintenance and replacement of all the windows of his Unit (including, in respect of any Residential Unit and for the avoidance of doubt, the openable window installed in or to any part of the Curtain Wall enclosing his Unit). In respect of the repair, maintenance and replacement of the openable windows install in or to any part of the Curtain Wall enclosing a Residential Unit, the Owner shall only engage contractors nominated and approved by the Manager to carry out such works. In respect of the replacement of the openable windows install in or to any part of the Curtain Wall enclosing his Unit, the Owner shall in addition use such materials as approved by the Manager; and (ii) cleaning of the internal surfaces of the Curtain Wall (including the openable windows and non-openable windows installed therein or thereto) enclosing his Unit. (d) In respect of the cleaning, repair, maintenance and replacement of the Curtain Wall enclosing the Commercial Accommodation, the Owner(s) of the Commercial Accommodation shall only engage contractors nominated and approved by the Manager to carry out such works. In respect of the replacement of any part of the Curtain Wall enclosing Commercial Accommodation, the Owner(s) of the Commercial Accommodation shall in addition use such materials as approved by the Manager. (e) The Owners of Units shall not object, and shall render full cooperation, to the Manager for the purpose of cleaning the external surfaces of, and carrying out any works with regards to, the Curtain Wall of the Development. For the avoidance of doubt, the Manager shall not be responsible for (i) the cleaning, repair, maintenance or replacement of any openable window installed in or to any part of the Curtain Wall which forms part of a Residential Unit which shall be the relevant Owner’s responsibility. (f) The following provisions shall apply to the Owner(s) of the Commercial Accommodation :- (i) Notwithstanding anything herein contained and without prejudice or any limitation to the rights reserved to the First Owner under this Deed, the Owner of the Commercial Accommodation (or Owners in accordance with the provisions in the relevant Sub-Deed (if any) in respect of the Commercial Accommodation) shall have the right to affix, erect, maintain, alter, renew, service, repair, replace and remove signs, signboards (illuminated or otherwise), advertisements, lightings, banners, posters or placards or other things or structures or visual images of whatsoever kind, size and description on the exterior or interior of the external walls and Curtain Wall (if any) enclosing the Commercial Accommodation or any part thereof for the purpose of advertising or otherwise and to grant the right to do so to any person PROVIDED HOWEVER THAT any such things, structures or visual images shall not, in the opinion of the Manager, unreasonably interfere with the use and enjoyment by other Owners of the parts of the Development owned by them and/or adversely affect the external appearance of the Development, and the opinion of the Manager in this respect shall be final and conclusive; and (ii) The sole Owner of the Commercial Accommodation shall have the right to enter into a Sub-Deed in respect of the Commercial Accommodation (the “Commercial Sub-DMC”) for the purpose of (i) allocating Undivided Shares to the Unit(s) within the Commercial Accommodation as common areas and common services and facilities for the common use and benefit of the Owners, occupiers and invitees of the Commercial Accommodation and allocate Undivided Shares thereto and (iii) making further provisions for the management, maintenance and servicing of the Commercial Accommodation and its equipment, services and apparatus and for the purpose of further defining and regulating the rights, interests and obligations of the Owners thereof Provided that the provisions of the Commercial Sub- DMC shall not conflict with the provisions of this Deed and shall not adversely affect or prejudice the rights, interests or obligations of the other Owners of the Development (other than the Owners of the Commercial Accommodation) under this Deed or any other previous Sub-Deed(s). (iii) The Owner(s) of the Commercial Accommodation shall have the right to have free and uninterrupted passage and running of electricity and various other services (if any) from and to the Curtain Wall forming part of the Commercial Accommodation (if any) through the ducts, cables, pipes, wires and other conducting media which now are or may at any time hereafter be in, under or passing through the Lot and the Development (including the Common Areas and Facilities) or any part or parts thereof for the proper use and enjoyment of the Curtain Walls forming part of the Commercial Accommodation (if any). (iv) Each Owner of the Commercial Accommodation, his tenants, servants, agents, invitees and licensees shall have the right to go pass and xxxxxx over and along the relevant part or parts of Residential Common Areas and Facilities for the following purposes only:- (1) fire escape or in cases of emergency provided that the relevant Owner of the Commercial Accommodation shall make good any damage to the Residential Common Areas and Facilities caused thereby; and (2) for the purpose of gaining access to relevant part or parts of the Development Common Areas and Facilities for purposes connected with the proper use and enjoyment of his part of the Land and Development if and only if (A) there is no other practicable means to enter into such part or parts of the Development Common Areas and Facilities and (B) where access to such part or parts of the Residential Common Areas and Facilities for such is unavoidable, and PROVIDED THAT such access shall be subject to such restrictions (including, without limitation, those in relation to the time and routing of such access) as may be imposed by the Manager. (g) Upon execution of this Deed, the First Owner shall assign the whole of the Common Areas and Facilities together with the number of Undivided Shares relating thereto to the Manager free of costs cost or consideration as trustee for all the whole of the Undivided Shares allocated to the Common Areas and Facilities under this Deed Owners subject to and with the benefit of the Government Lease and this DeedDeed but otherwise free from encumbrances. Such Undivided Shares together with the right to hold, use, occupy and enjoy the Common Areas and Facilities shall be held by the Manager as trustee for the benefit of all the Owners for the time being and in the event the Manager shall resign or be dismissed or wound up or a receiving order made against it or shall resign or be removed pursuant to the provisions of this Deed and another manager Manager appointed in its stead in accordance with these presentsthis Deed, then the Manager or the liquidator or the receiver (as the case may be) shall assign free of costs or consideration such Undivided Shares together with the Common Areas and Facilities they represent to the new manager Manager upon the same trust PROVIDED THAT and if there is an Owners’ Corporation is formed under Incorporation, then notwithstanding anything contained in the Building Management Ordinance it may require foregoing provisions, the Manager for (or, in the time event of the Manager being wound up or a receiving order being made against it, its liquidator or receiver (as the case may be)) to shall at any time upon the request of the Owners’ Incorporation assign such Undivided Shares and transfer the management responsibility to it free of costs or consideration and in which event the Manager shall assign free of costs the such Undivided Shares in respect of together with the Common Areas and Facilities and transfer free of costs the management responsibility they represent to the Owners’ Corporation which shall hold such Undivided Shares on trust for Incorporation upon the benefit of all the Ownerssame trust.