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The Pamphlet Collection of Sir Robert Stout: Volume 71

Teems of Sale

page 36

Teems of Sale.

One-fourth of the purchase-money must be paid on the fall of [unclear: and] hammer, and the balance, with Crown-grant fee, £1, within [unclear: than] days thereafter; or, at the option of the applicant, declared in [unclear: write] one-fourth part of the purchase-money shall be paid in cash [unclear: immediate] on the close of the sale, one-fourth part thereof within thirty days [unclear: near] after the date of sale, and one-half part thereof, together with [unclear: Crown] grant fee, £1, in five years from the date of sale, such part to bear [unclear: interest] at the rate of £5 per centum per annum until payment, such interest [unclear: to] paid by the purchaser at the expiration of every half-year following [unclear: at] date of sale.

No certificate of title shall issue to any purchaser until full [unclear: payment] his purchase-money, interest, if any, and fees; and in case any [unclear: purchase] shall make default in payment of such purchase-money [unclear: or] interest, on part thereof respectively, for a period of sixty days after the [unclear: same] become due, as the case may be, the Minister may cause [unclear: possession] such land and of all improvements thereon to be recovered on [unclear: behalf] the Crown, as provided by "The Land Act, 1892," and [unclear: thereafter] sell or dispose of such land and improvements by public [unclear: auction] such terms and conditions as he thinks fit, and either for cash or pa for cash and partly upon like terms as the same was [unclear: originally] If the original purchaser-[unclear: money] has paid any part of the purchase-money before default, the Minister may repay the same to such [unclear: purchase] with the value of any improvements made on the land, or such of such purchase-money or value as the Minister thinks fit, [unclear: and] any loss occasioned to the Crown by any such resale, [unclear: together] the costs and expenses the Crown may have been put to in [unclear: recoved] possession and reselling such land.

Given under my hand, at Wellington, this tenth day of [unclear: October,] the year of our Lord one thousand eight hundred and [unclear: ninty] three.

John McKenzie,

Minister of Lands.