Page:1930 QLD Royal Commission into Racing Report.djvu/72

 containing such covenants conditions provisions and agreements as the vendor's Solicitors shall deem advisable to secure the payment to the vendors of the balance of purchase money and the purchasers shall pay all stamp duties fees and costs thereby occasioned.

6. The purchasers hereby agree to pay duly and punctually all taxes fees moneys charges and percentages levied or required to be paid to the Government of the State of Queensland or the Commonwealth of Australia under any Act of Parliament relating to horse racing wagering gaming entertainments or betting through the totalisator machine or otherwise and also all other fees moneys charges and percentages if any made payable in respect of the said racecourses and each of them on the said lands and hereby indemnify the vendors and each of them and their and his respective executors administrators and transferees against payment of the said taxes fees moneys charges percentages entertainment and betting taxes and each and every of them respectively.

7. Until the whole of the purchase moneys shall have been paid by the purchasers they shall insure and keep insured in an insurance company nominated by the vendors in the names of the vendors as unpaid vendors the whole of the insurable portion of the property hereby sold in such sum as the vendors may reasonably demand and shall forthwith as soon as received deliver all policies of fire insurance and renewal receipts therefor to the vendors.

8. While any money payable under this agreement remains unpaid the purchasers shall maintain hold repair and keep the whole of the premises including buildings out-buildings fences racing rails erections furniture machinery plant material and racing and training tracks lawns and gardens in good and sufficient repair order and condition and shall replace all such as may be worn out used up or lost with similar buildings out-buildings fences racing rails erections furniture machinery plant material racing and training tracks lawns and gardens and articles as often and when the same shall be necessary or required by the vendors and shall paint with two coats of oil paint of good quality and in proper and workmanlike manner all the wood iron and other work now or usually painted as often and whenever required by the vendors so to do And while any money payable under this agreement remains unpaid the purchasers shall not without the previous consent in writing of the vendors make any alterations or additions whatsoever in or to the property purchased or remove or alter any of the existing buildings or fixtures erected or now on the property.

9. The purchasers hereby expressly agree that while any money payable under this agreement remains unpaid they will at all proper times make all necessary applications for and will do all things necessary to obtain in each year the grant and renewal of all licenses permits and sanctions necessary in respect of the said racecourses and pay all fees necessary in respect thereof and further that they will properly hold carry on and conduct every race meeting for which sanction and authority can be obtained on the said racecourses and on no other lands or racecourses whatever whether the property of the purchasers or not that the purchasers will while any money payable under this agreement remains unpaid make all applications and do all things necessary and use their best endeavours to procure from time to time registration under the Queensland Turf Club in respect of both the said Albion Park Racecourse and Sandgate Racecourse and will not conduct any race meeting on either of the said courses except under the registration of the rules of the Queensland Turf Club.

10. For a period of not less than five years from the first day of April One thousand nine hundred and twenty-three the purchasers shall employ the following members of the present staff of the said racecourses during good behaviour and at not less than their respective present salaries namely:

and shall not during the said term without the consent in writing of the vendors dismiss any of them. The question of good behaviour shall be decided by the trustees and the said John Wren or his nominee.

11. This agreement shall be executed in triplicate and one of the originals thereof shall belong to each of the vendors and the other to the purchasers.