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Allowance to be made on renewed Leases in certain Cases.
If any Difference arise thereupon, the same shall be referred to Arbitration.
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CLXI. Provided always, and be it enacted, That in case the Value of any new Lease or Interest so to be granted as aforesaid shall at any Time appear to the said Commissioners to be increased or diminished in any Manner whatsoever, it shall and may be lawful for the said Commissioners to accept or require such greater or lesser Renewal Fine or Fines as in their Judgment may be just and reasonable with regard to such increased or diminished Value: Provided nevertheless, that if any Difference as to the Increase or Reduction of such average Renewal Fine should arise between the said Commissioners and the Tenant or Tenants, Lessee or Lessees claiming such Renewal, the same shall be referred to the Determination of Three Arbitrators, to be appointed in manner herein-before provided for the Appointment of Arbitrators to adjust Differences between the said Commissioners and Tenants or Lessees applying for the Purchase of Perpetuities under this Act, and with the like Powers and Authorities so far as the same are applicable; and the Determination of such Arbitrators as to the Amount of such Increase or Reduction of the said Fine shall be conclusive and binding upon all Persons whomsoever; and the Expence of such Arbitration shall be borne by the said Commissioners, or by the said Tenant or Tenants, or Lessee or Lessees, as such Arbitrators shall direct.
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