Page:1930 QLD Royal Commission into Racing Report.djvu/85

85` APPENDIX C (vii.) (Exhibit No. 181.) "A"

made this Fifth day of February One thousand nine hundred and thirty between of "Ripponlea" Hotham Street Elsternwick in the State of Victoria in the Commonwealth of Australia 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 in the said Commonwealth Solicitor and  of Brisbane aforesaid Accountant the Trustees of Kedron Amateur Racing Club (hereinafter called "the Purchasers") of the other part Whereas by an agreement in writing bearing date the twenty-fourth day of August One thousand nine hundred and twenty-three and made between the vendors of the one part and the purchasers of the other part (hereinafter referred to as "the principal agreement") the vendors agreed to sell to the purchasers and the purchasers agreed to purchase from the vendors as from the first day of July One thousand nine hundred and twenty-three—


 * (a) The unencumbered fee-simple in possession of the hereditaments situate at Kedron near Brisbane aforesaid being subdivision 1 of resubdivision 2 of subdivision 1 of resubdivision 1 of subdivision 1 and subdivision 1 of resubdivision 221 of subdivision A of portions 196 and 200 situated in the County of Stanley Parish of Enoggera containing thirty-two acres three roods twenty-nine perches and half a perch and being the whole of the land described in Certificate of Title No. 265091 Register Book Volume 1484 folio 81 for the sum of Nineteen thousand five hundred pounds.


 * (b) The unencumbered fee-simple in possession of the hereditaments situate at Kedron aforesaid being subdivision 1 of portion 4 County of Stanley Parish of Kedron containing three roods ten perches and being the whole of the land described in Certificate of Title No. 196418 Volume 1170 folio 158 for the sum of Five 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 Edward Street Brisbane aforesaid for the sum of One thousand pounds.


 * (d) The goodwill of the business of horse racing carried on and conducted by the vendors together with the exclusive right to use the name Kedron Park Racing 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 Two hundred and twenty-nine thousand pounds;

And whereas the purchasers have from time to time made certain payments to the vendors on account of the purchase moneys payable under the said principal agreement 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 principal agreement the purchasers agreed to pay to the vendors the sum of Ten thousand pounds part of the purchase money by twelve monthly payments of Eight hundred and thirty-three pounds six shillings and eight pence as therein mentioned and the residue of the purchase money by annual payments of Twenty thousand pounds each payable by monthly instalments of One thousand six hundred and sixty-six pounds thirteen shillings and four pence as therein mentioned until the whole of the purchase money owing by the purchasers to the vendors shall have been paid And whereas the purchasers have owing to 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 principal agreement and believe that they will be unable to pay to the vendors the full purchase price of Two hundred and fifty thousand pounds mentioned in the said principal agreement And whereas the purchasers have applied to and requested the vendors to reduce the said total purchase money to the sum of Two hundred thousand pounds and also to reduce the annual instalments payable under the said principal agreement in the manner hereinafter provided And whereas the vendors have agreed to reduce the said total purchase money to the sum of Two hundred thousand pounds and also to reduce the annual instalments payable under the said recited agreement for and during the period of ten years from the first day of March One thousand nine hundred and thirty to Seven thousand pounds payable by equal monthly instalments of Five hundred and eighty-three pounds six shillings and eight pence each on the first day of each month