171

I.—3a

" and he should purchase the above-mentioned piece of land together with Subdivisions 1g 1h and " 1j of the said Mokau-Mohakatino Block and all the right title estate and interest of the Native owners " therein for the total sum of £25,000 in cash and £2,500 in fully-paid-up shares in the Mokau Coal and " Estates Company (Limited) to be paid to the Native owners of such blocks in proportion to their " respective interests therein and so that the owners of each block shall receive the same proportion " of the said sums of £25,000 and £2,500 as the Government valuation of the owners' interest in such " block bears to the total of the Government valuation of the owners' interest in the whole of the said " four blocks and so also that each of the Native owners of each block shall receive in cash not less than " the Government valuation of his interest in such block And further that the Maori Land Board " of the Waikato-Maniapoto Maori Land District be and it is hereby empowered to execute as the agent " of the Native owners in the name of the Board an agreement for sale of the said lands to the said " Herrman Lewis his executors administrators and assigns at the said price such agreement to contain " all such terms as to the said Board shall seem fit including a power to the said Board to execute all " such instruments of alienation as may be reasonably required for the purpose of carrying out the " terms of such agreement " And whereas the Board has subsequently to the passing of the said resolution confirmed the said resolution by confirmation in writing under the seal of the Board executed at a meeting of the Board held at Auckland on the twenty-fourth day of March one thousand nine hundred and eleven has in pursuance of section 356 (6) of the Act become the agent of the Native owners for the time being to execute and is duly authorized to execute as such agent in the name of the Board an instrument of alienation in accordance with the terms of the said resolution as confirmed Now it is hereby agreed by and between the parties hereto as follows 1. It is hereby declared that this agreement or instrument of alienation is executed by the Board as agent for the Native owners and pursuant to the statutory authority conferred upon it by Part XVIII of the Act and of all other statutory authorities it thereunto empowering 2. The Board shall sell and the purchaser shall purchase all that piece or parcel of land containing twenty-six thousand four hundred and eighty acres (26480 acres) more or less being Block Number If Mokau-Mohakatino Block the whole of the land comprised in Provisional Register Volume 11 folio 699 Taranaki and also all the right title estate and interest of the Native owners therein for the price specified in the resolution above referred to 3. The said purchase-money in cash shall be paid by the purchaser to the Board in one sum and the said fully-paid-up shares shall be allotted to the Board within three calendar months from the day of the date of these presents (time in this respect being strictly of the essence of the contract) 4. If the purchaser shall fail to pay the said purchase-money and allot the said shares within the said period of three calendar months (time being in this respect strictly of the essence of the contract) then and in such case the Board may cancel and determine this agreement without prejudice to any liability theretofore incurred by the purchaser and the purchaser shall be liable to pay to the Board on behalf of the Native owners or to the Native owners as the case may be all costs and expenses incurred by them in connection with this agreement and the sale hereby agreed upon together with such damages as may be sustained or recoverable by the Native owners As the Native owners dispute the validity of the lease of the said land to Joshua Jones appearing on the said Provisional Register and also alternatively claim to be entitled to re-enter and determine the same which right the purchaser disputes it is expressly agreed and declared that in the event of the Board cancelling and determining this agreement pursuant to this provision then and in such case nothing herein contained shall be deemed to affect the existing rights or liabilities (if any) of the Native owners or the purchaser in reference to the said lease or to be an admission by the Native owners of the validity or existence of the said lease or any waiver of any right which may exist in the Native owners to re-enter upon the said lands or to affect or prejudice the right (if any) of the Native owners to dispute the validity of such lease or to re-enter upon the said lands or to determine the said lease or any other right or remedy which the Native owners or the purchaser may now possess all which rights or remedies shall subsist and may be prosecuted in the same manner and as fally as if these presents had never been executed 5. Upon payment of the purchase-money in accordance with the provisions of paragraph 3 hereof the Board shall forthwith transfer the fee-simple of the said land to Walter Harry Bowler the President of the Board to hold the same upon the trusts following namely (a) Upon trust for the Board to enable the Board to execute and perform and carry out all and singular the trusts and purposes hereinafter expressed (b) Upon trust at the request and by the direction of the Board to execute such assurances and transfers of the fee-simple of the said lands and any parts or part thereof as may be necessary to execute perform and carry out the trusts and purposes expressed in paragraphs 7 8 9 and 10 hereof or otherwise in this agreement (c) Upon trust in the event of the Board being unable to execute and perform such trusts and purposes or any of them then himself to execute or perform in the same degree and manner as if such trusts and purposes had been originally vested in and conferred upon him (d) Subject to the aforesaid trusts purposes and provisions upon trust for the purchaser and so that the said Walter Harry Bowler shall at the request and at the expense in all things of the purchaser execute all such mortgages and other charges deeds of dedication and other instruments of alienation of any kind which the purchaser shall require him to execute and which are not inconsistent with the trusts referred to in paragraphs (a) (b) and (c) hereof