Page:1930 QLD Royal Commission into Racing Report.djvu/77

 APPENDIX C (iii.)—continued. "A."

made this sixth day of December One thousand nine hundred and twenty-nine between of "Ripponlea" Hotham Street Elsternwick in the State of Victoria Warehouseman and  of Studley Park Kew in the said State Gentleman (hereinafter called "the Vendors") of the one part and  of Brisbane in the State of Queensland Accountant and  of Brisbane aforesaid Accountant the Trustees of Brisbane Amateur Turf Club (hereinafter called "the Purchaser") of the other part) Whereas by an agreement in writing bearing date the Seventeenth day of April One thousand nine hundred and twenty-three and made between the vendors of the one part and the purchasers of the other part the vendors agreed to sell to the purchasers and the purchasers agreed to purchase from the vendors as from the first day of January One thousand nine hundred and twenty-three—


 * (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 of subdivisions A17 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 subdivision 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 situated 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 the 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 horses 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.

And whereas the purchasers have from time to time made certain payments to the vendors on account of the purchase monies payable under the said recited agreement of the Seventeenth day of April One thousand nine hundred and twenty-three but have not paid to the vendors the full amount of the annual instalments of purchase money as provided thereby And whereas under the said recited agreement the purchasers agreed to pay to the vendors annual payments of Forty-eight Thousand Pounds each payable by monthly instalments of Four Thousand Pounds each in reduction of the balance of purchase money due by the purchasers to the vendors And whereas the purchasers have by reason of unforeseen circumstances found themselves unable to pay to the vendors the full amount of the annual instalments agreed to be paid by them to the vendors under the said recited agreement of the Seventeenth day of April One thousand nine hundred and twenty-three and have applied to and requested the vendors to reduce the annual instalments payable thereunder And whereas the vendors have agreed to reduce the annual instalments payable under the said recited agreement to Twenty-four Thousand Pounds payable by equal monthly instalments of Two Thousand Pounds each on the first day of each month as from the thirty-first day of December One thousand nine hundred and twenty-nine And whereas the purchasers have agreed to pay to the vendors the said annual sum of Twenty-four Thousand Pounds payable by equal monthly instalments of Two Thousand Pounds each at the times and in the manner required by the vendors and to pay the whole of the purchase money on or before the first day of March One thousand nine hundred and forty And whereas under clause 13 of the said recited agreement of the Seventeenth day of April One thousand nine hundred and twenty-three the vendors had an option upon the terms in