Ngai Tahu Settlement

ATTACHMENT 10.6
DEED OF COVENANT RELATING TO THE FENCING OF THE ROUTEBURN FIELD AREA
(Clause
10.5.1(e))

Date:

BETWEEN

(1) TE RUNANGA O NGAI TAHU (the
Landholder)

(2) THE MINISTER OF CONSERVATION (the
Minister)

BACKGROUND

A The Landholder and the Crown are parties to a Deed of
Settlement dated [ ] 1997.

B Pursuant to that Deed, the Crown agreed to transfer to the
Landholder the Routeburn Field, such transfer to be subject to the Landholder
entering into a deed of covenant with the Minister providing for the fencing of
the Routeburn Field and in the area adjacent to it to prevent stock entering the
Mount Aspiring National Park.

C Under section [ ] of the Ngai Tahu Claims Settlement Act
1997, this covenant is deemed to have been entered into by the Minister pursuant
to section 77 of the Reserves Act 1977, and therefore binds future owners of the
Routeburn Station.

NOW THEREFORE the parties agree as
follows:

1 DEFINITIONS AND INTERPRETATION

1.1 In this deed, unless the context otherwise
requires:

Crown means Her Majesty the Queen
in right of New Zealand;

Mount Aspiring National Park means
The Mount Aspiring National Park referred to in section 6(i)(i) of the National
Parks Act 1980;

Routeburn Field means the area
identified as the Routeburn Field on the plan attached as Appendix
1;

Routeburn Station means the area
shown hatched with crossed lines on the plan attached as Appendix
1.

1.2 In the interpretation of this Deed, unless the context
otherwise requires:

1.2.1 headings appear as a matter of convenience and are not to
affect the interpretation of this Deed;

1.2.2 the singular includes the plural and vice versa, and
words importing one gender include the other genders;

1.2.3 a reference to an enactment or any regulations is a
reference to that enactment or those regulations as amended, or to any enactment
or regulations substituted for that enactment or those regulations but this
provision shall be read subject to clause 1.3;

1.2.4 a reference to a party to this Deed or any other document
or agreement includes that party's successors, heirs, executors and
assigns;

1.2.5 a reference to the Minister includes any officer or duly
authorised agent of the Minister; and

1.2.6 a reference to the Landholder includes any receiver,
liquidator, statutory manager or assignee in bankruptcy of the Landholder or any
lessee or mortgagee in possession of the Routeburn Station or any part of it.
Where there is more than one owner of the Routeburn Station, this Deed binds
them both jointly and severally.

1.3 The parties agree that the rule of interpretation referred
to in clause 1.2.3 is intended only to facilitate interpretation of this
Deed in circumstances where legislative changes make statutory references in
this Deed obsolete. It is not intended to indicate, and should not be
interpreted as indicating, any consent by the Landholder to, or acquiescence by
the Landholder in, the introduction to Parliament by the Crown of any proposed
statutory amendment which would adversely affect the redress provided by the
Crown pursuant to the Deed of Settlement referred to in Recital A or the
ability of either party to fulfil its obligations expressed in this Deed or in
that Deed of Settlement.

2 FENCING OF ROUTEBURN FIELD

2.1 The Landholder will maintain the fence currently erected on
the Routeburn Field in a stock-proof condition.

2.2 If the Minister reasonably believes that it has become
necessary to erect further fencing on the boundary between the Routeburn Field
and the Crown land which borders it in order to prevent stock from entering the
Mount Aspiring National Park, the Minister may, by notice to the Landholder,
require that the Landholder erect such further fencing on the boundary between
the Routeburn Field and the Crown land which borders it as is reasonably
required to prevent stock from entering the Mount Aspiring National Park.
Subject to clause 4, the Landholder will erect such further fencing as
soon as reasonably practical after receipt of such notice. Such fencing shall be
built to the standard referred to in Appendix 2.

3 FENCING ALONG AND ACROSS ROUTEBURN RIVER

3.1 Subject to clause 4, the Landholder will maintain,
and, if necessary, re-erect the fence on the southern side of the Routeburn
River, across the Routeburn River to the Routeburn Field, and along the
remaining boundary between Routeburn Station and The Mount Aspiring National
Park to prevent the entry of stock into the Mount Aspiring National
Park.

3.2 If the Minister reasonably believes that the fencing
referred to in clause 3.1 is not of sufficient standard to prevent the
entry of stock into the Mount Aspiring National Park, the Minister may, by
notice to the Landholder, require that such fencing be improved to a higher
standard to prevent entry of stock into Mount Aspiring National Park. Subject to
clause 4, the Landholder will undertake such improvement as soon as
reasonably practical after receipt of such notice.

4 SHARING OF COSTS

Unless the Minister and the Landholder agree otherwise, the
costs of maintaining, erecting and improving the fences referred to in this Deed
and any other fences reasonably required to prevent stock entering the Mount
Aspiring National Park will be shared equally. If required by the Minister, the
Landholder will provide to the Minister estimates of cost for the Minister's
approval before undertaking any work for which the Minister will be liable to
pay half of the costs.

5 REGISTRATION OF COVENANT

The Minister will cause a notification of this covenant to be
recorded against the title to the Routeburn Station in the manner provided for
in section 77 of the Reserves Act 1977, as soon as reasonably practicable after
the execution of this Deed. The intention of recording the covenant against the
title in this way is to bind future owners and to allow for the application of
sections 93-105 of the Reserves Act 1977.

6 ACCESS FOR MINISTER

The Landholder grants to the Minister a right of access onto
and through the Routeburn Station for the purpose of examining and recording the
condition of the fences referred to in this Deed. In exercising this right of
access, the Minister shall obtain the prior consent of the Landholder and take
all reasonable steps to minimise disruption to the Landholder's operations on
the Routeburn Station. The Landholder will not unreasonably withhold or delay
consent.

7 NOTICES

Any notice required to be given to either party under this Deed
will be sufficiently given if in writing and served in the manner provided in
Section 152 of the Property Law Act 1952. In the case of the Landholder, the
notice will be sufficiently given by post or delivered to the residential or
business address of the Landholder. In the case of the Minister, the notice will
be sufficiently given if sent by post or delivered to the office for the time
being of the Regional Conservator, Department of Conservation, Otago. Any
consent under clause 6 may be obtained from the manager of the
Landholder's pastoral farming operation on the Routeburn Station.

8 TERM

This Deed shall apply in perpetuity.

9 DISPUTE RESOLUTION

Any dispute which arises between the Landholder and the
Minister in any way relating to this Deed may be resolved by referring the
dispute to an agreed third party for decision or by arbitration under the
provisions of the Arbitration Act 1996.

EXECUTED as a deed on the date
first written above.

[Execution provisions to follow]

APPENDIX 1

PLAN OF ROUTEBURN STATION SHOWING ROUTEBURN
FIELD

(Clause 1.1, Definitions of Routeburn Field and Routeburn
Station)

[Detail from Allocation Plan HC 515 to be inserted
here]

APPENDIX 2

STANDARD OF FENCING

(Clause 2.2)

(a) Areas of low - moderate flood risk - Fence type - post,
standard with 1 barb and 6 plain wires.

Strainers	2.1m x 175 - 225mm located at end of each strain.
Posts	1.8m x 125 - 150mm at 21m spacing.
Waratah standards	1.65m at 3m spacing.
Barb wire 2.5mm high tensile 150mm barb - Top wire.
Plain wire 2.5mm high tensile steel. 6 wires spaced to suit waratah.

(b) Area of moderate flood risk (Dart River) - Fence type -
waratah standard with 3 electrified wires.

Strainers	2.1m x 175 x 225mm located at end of each strain.
Angle posts	1.8m x 125 - 150mm.
Waratah standards	1.65m at 6m spacing.
Plain wire 2.5mm high tensile steel 3 wires to suit waratah and electrified.

(c) Area of high flood risk -normal annual flood floodway of
Burn Stream. Fence type - waratah standard, 3 electrified wires and
tapes.

Waratah standards	1.65m at 20m spacing.
Plain wire 2.5mm high tensile steel. 3 wires electrified.
Electric tape 3 strands fix with plain wire as visual warning barrier for stock.

(d) River crossing, river banks and unstable flood areas
with frequent debris and log movement. Single electrified plain 2.5mm high
tensile electrified steel wire with electrified tape as marker tape positioned
as necessary according to terrain.