Guild Wars 2

I have a few question for Custom Arena.I’m deciding to buy one but i’m just curious about some things.
So here is what i know so far:

• I buy one for 1600 gems
• To play in it i buy tokens(Play time)
• If i don’t pay every time i will lose access to the Arena and i won’t be able to play.

Now my question is will the whole arena disappear if i don’t pay for it a long time?(Six months for instance)
Will i lose my 1600gems investment?
Will i have to buy again new Arena for 1600gems?

Ahh yea and one more question.
Is the arena account bound or character bound.What i mean by this is.
If i buy the arena with character A can character B on the same account become the host?

If you run out of time you have a two-week grace period before it is removed.
Your custom arena belongs to you, you can use it on any character.

http://wiki.guildwars2.com/wiki/Custom_PvP_Arenas