Page:1930 QLD Royal Commission into Racing Report.djvu/71

 Whereby it is agreed as follows:—

1. The vendors will sell and the purchasers will buy as from the first day of January One thousand nine hundred and twenty-three (from which date the purchasers shall take over and be responsible for all the liabilities of the vendors in connection with the business hereinafter mentioned existing on that date or subsequently incurred) for the respective sums set opposite the respective properties and assets:

(a) The unencumbered fee-simple in possession of the hereditaments situated at Breakfast Creek near Brisbane in the said State of Queensland comprising allotment 12, subdivisions A, 17, 18, 26, 27, 28 and 60 to 62 of allotment 1, resubdivisions 13 to 18, 30 to 33, 41, 58 and 59 of subdivisions A and 1 of allotment 2, subdivisions B and 2 of part of allotment 3, subdivisions 1 to 6 and C of resubdivision 1 of subdivision 7 of section 1, resubdivision A of subdivisions 1 to 8 of section 2 and part of resubdivisions 21 and 22 of subdivision 19 of section 4 of allotment 3, resubdivision A of subdivision 1 of part of allotment 11 and subdivision 1 of resubdivision 2 of subdivision 2 and of subdivision 1 of allotment 11 of portion 1 situated in the Parish of Toombul and subdivision 43 of allotment 3 situate in the Parish of Enoggera containing thirty-nine acres twenty-four perches and sixty-two one-hundredths of a perch being part of the land described in Deeds of Grant Number 110015 and 110016 entered in the Register Book Volume 1512 Folios 25 and 26, for the sum of Forty-five Thousand Pounds,

(b) The unencumbered fee-simple in possession of the hereditaments situated at Sandgate in the said State of Queensland comprising the racecourse reserve, portion 12, containing eighty-seven acres and twenty-two perches situated in the County of Stanley Parish of Nundah being the whole of the land described in Certificates of Title Numbers 201064 and 201065 Volume 1194 Folios 54 and 55 for the sum of Three Thousand Two Hundred Pounds,

(c) All horses, drays, carts, rollers, harness, tools, machinery, plant, hoses, nozzles, chairs, seats, fixtures, fittings, furniture and effects belonging to the vendors, and now in about upon or used in connection with the said lands and premises and the offices of the vendors at Kent's Buildings, Adelaide Street Brisbane aforesaid for the sum of One Thousand Eight Hundred Pounds,

(d) The goodwill of the business of horse racing carried on and conducted by the vendors together with the exclusive right to use names "Albion Park Jockey Club" and "Sandgate Jockey Club" and all other rights and privileges now used in connection with or appertaining to the said business and now or usually enjoyed therewith for the sum of Four Hundred Thousand Pounds.

2. The purchasers shall pay to the vendors in cash as a deposit the sum of Ten Thousand Pounds of the Purchase money and shall pay the residue of the purchase money as follows:—Forty-eight Thousand Pounds per annum payable by twelve monthly payments of Four Thousand Pounds each on the first day of each and every month in each year until the whole of the purchase money Four Hundred and Fifty Thousand Pounds shall have been paid the first of which monthly payments shall be made on the first day of May One thousand nine hundred and twenty-three. The purchasers shall have the right of paying to the vendors on any of the said monthly days for payment a sum of not less than Five Hundred Pounds in excess of the said sum of Four Thousand Pounds and may at any time pay off the balance of the purchase money remaining unpaid.

All moneys payable under or in pursuance of this agreement shall be paid to the credit of the vendors at the National Bank of Australasia Limited Melbourne aforesaid free to the vendors of exchange or other charges.

3. The freehold property is sold subject to any easement or easements existing thereon.

4. All rates taxes fire insurance premiums and other outgoings including State and Federal Land Tax at the rates charged to and payable by the vendors in respect of the properties sold shall be paid by the purchasers as and from the first day of January one thousand nine hundred and twenty-three and the same shall if necessary be apportioned between the vendors and the purchasers.

5. The purchasers shall whenever required by the vendors accept and take a transfer of the freehold property before mentioned and execute a mortgage thereon in such form and