Page:1930 QLD Royal Commission into Racing Report.djvu/81

 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 racecourse and will pay all fees necessary in respect thereof and will properly hold carry on and conduct every race meeting for which sanction and authority if required can be obtained on the said racecourse and on no other land or racecourse whatever whether the property of the purchasers or not.

10. The vendors shall while any money payable under this agreement remains unpaid have the right should they think fit so to do to employ or nominate the officials and staff necessary for the purpose of carrying on the said racecourse and the purchasers shall not while any money remains payable hereunder without the consent in writing of the vendors dismiss any of such officials or staff.

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.

12. While any money payable under this agreement remains unpaid the purchasers hereby expressly agree with the vendors that they will not without the previous consent in writing of both vendors sell transfer or assign the contract set out in this agreement or any part thereof or any of their rights or interests thereunder or mortgage encumber let sublet or lease pledge charge part with or otherwise deal with the possession of the properties or assets contracted to be sold or any part thereof or of this agreement to any person or persons company or association whatsoever.

13. In the event of any of the said instalments not being duly and punctually paid upon the respective days hereinbefore fixed for payment thereof then at the option of the vendors and if and when such option, shall be exercised by notice in writing interest shall be paid by the purchasers after the rate of Seven Pounds per centum per annum upon any and all such overdue instalments from the respective dates upon which the said respective instalments became payable until the same shall have been paid but without prejudice to the vendors' rights under clause 21 of this agreement.

14. The vendors are the registered proprietors as tenants in common of the said freehold lands and the said respective titles shall be produced to the purchasers or their solicitor for inspection upon their making application for the same to the vendors' solicitors within fourteen days from the date hereof and the purchasers shall within twenty-eight days from the day of signing or executing this agreement deliver to the vendors' solicitors Messrs. O'Shea & O'Shea 43 Queen Street Brisbane aforesaid a statement in writing of all objections and requisitions (if any) to or upon the titles and all objections or requisitions not included in such statement shall be considered as absolutely waived and the purchasers shall (subject to any objection or requisition so delivered) be considered as having accepted the title.

15. If the purchasers shall within the time aforesaid make any objection or requisition to or upon the title which the vendors shall be unable or unwilling or shall in their absolute discretion refuse to remove or comply with (which right of refusal the vendors absolutely reserve to themselves) the vendors may by notice in writing to the purchasers or their solicitors annul the sale and the vendors shall within one week after giving such notice repay to the purchasers the whole amount of the purchase money which shall have been paid but without any interest costs or expenses of investigation of title or any other costs or expenses whatsoever.

16. Upon payment of the full amount of the purchase money and other moneys arising under this agreement or under any indemnity herein contained and any interest which may become due and payable hereunder the vendors will sign a proper transfer of the said lands to the purchasers. Such transfer shall be prepared by and at the cost of the purchasers who shall also pay all stamp duties fees costs and charges in respect thereof.