AND THE EOYAL HORTICULTURAL SOCIETY. 537 



missioners (provided the original term shall not have become 

 liable to forfeiture after the giving of such notice) will either 

 grant a renewal in accordance with such notice and these presents, 

 or, at their option, may decline to grant such renewal on the Conditioas 

 terms and conditions of their taking upon themselves at the end ^^ "wJiich 

 of the original term of 31 years, the payment of such amount of ^°™j'^j,g^ 

 the original debenture debt of £40,000 as may remain unpaid and may decline 

 undischarged at the expiration of that term, provided such amount to renew. 

 do not exceed £30,000, or upon condition of taking upon them- 

 selves the payment of £20,000, part of such debt, if there remain 

 owing a larger sum than £20,000 at the expiration of such term, 

 which sum of £20,000 so to be paid by the Commissioners shall 

 be applied in discharge or satisfaction of the unpaid debentures 

 for the time being rateably and without preference or priority. 

 If, on the other hand, the debenture debt shall at the expiration 

 of such term be less than £15,000, or in case there should be no 

 part of the said debenture debt then owing or unpaid, the Com- 

 missioners, in the former case, shall pay to the Society such a 

 sum as when added to the amount of debenture debt then owing 

 or unpaid, shall constitute a total sum of £15,000 ; and the Com- 

 missioners shall in the latter case pay to the Society the full sum 

 of £15,000 ; and the Commissioners shall make their election to 

 renew or take upon themselves such payment within six calendar 

 months from the receipt of the notice requiring a renewal. If 

 the Commissioners elect to renew, a renewal shall take place 

 accordingly, but the proviso for re-entry shall be so framed as to 

 operate immediately and without a suspension of the first five 

 years of the renewed term. 



31. If the Commissioners elect not to renew, they shall give a Obligation 

 bond under their common seal to the Society, to secure the due to ^ 

 performance of the obligation which they are to undertake in ^q^. 

 respect of the portion of debt of the Society, not exceeding miBsioncrs, 

 £20,000 remaining unpaid, or of the payment of the sum not jfttey elect 

 exceeding £15,000 as aforesaid, as the case may be, in which bond ^°^^^^ 

 some certain day, not being more than 12 months from the date 

 thereof, shall be named for the principal sum of money thereby 

 conditioned to be paid, and in the meantime interest at the rate 

 of £5 per cent, per annum shall be payable thereon. 



22. The costs of the original lease and counterpart, and of — "-^^ " 

 renewal, and of these presents shall be paid by the Society. 



23. If either of the parties hereto shall differ as to the 

 struction of the terms and provisions herein contained, or 





