III Commissioners empowered to grant Leases.U.K.
It shall be lawful for the Commissioners of Chelsea Hospital and their Successors, and for any Trustee or Trustees of the said Lands and Tenements, by their Direction, signified as aforesaid, from Time to Time and at all Times hereafter, in such Manner as they shall deem expedient, to grant Leases of all or any of the Pieces or Parcels of Land so contracted for, or heretofore purchased with any Portion of the Legacy of the said Colonel Drouley, unto any Person or Persons, for any Term or Number of Years not exceeding Twenty-one Years for any such Lease, unless the same be a building or repairing Lease, and not exceeding Eighty Years for any such building or repairing Lease, and to take effect in Possession only, and not in Reversion or by way of future Interest, and so as in all such Leases there be respectively reserved and made payable during the Continuance thereof the best yearly Rent or Rents which can be reasonably obtained for the same, without taking any Fine, Premium, or Foregift for the making thereof, and so as in every such Demise and Lease there be contained a Condition of Re-entry for Nonpayment of the Rent thereby reserved, and so as the respective Lessees duly execute Counterparts of their said Leases respectively.