New South Wales: Mrs. Payten’s Estate Leasing Act 50 Vic (NSW)

1886. 50° VIC. Urs. Puayten's Estate Leasing. An Act to enable the Trustees of a settlement ass. pavres's made on the marriage of Edward Payten and Hannah Rebecca Pye Rose to accept a surrender ofa lease of part of the lands comprised in the said settlement and to extend the power to grant leases conferred by the said settlement on the Trustees thereof. [17th August, 1886. ] Estate Leasinc, V TIEREAS by an indenture dated the twenty-fifth day of Preamble. January in the year of our Lord one thousand eight hundred and fifty-three and made between ITannah Rebecca Pye Rose of the first part Edward Payten of the second part and Charles Henry Jacob Rose and Alfred Marsom Nash Rose thereinafter designated Trustces of the third part being a settlement made in contemplation of a marriage then intended and afterwards duly solemnized between the said Edward Payten and Iannah Rebecea Pye Rose the undivided fifth part or share and all other parts or shares of her the said ITannah Rebecea Pye Rose of and in certain lands and hereditaments devisec by the will of her father Thomas Rose deceased to or for her use an benefit were conveyed and assured unto and to the use of the said Trustees their heirs and assigns upon certain trusts therein expressed and declared for the benefit of the said Hannah Rebecca Pye Rose and her children And it was by the said indenture agreed anc declared amongst other things that it should be lawful for the saic Trustees or the Trustees or Trustee for the time being of the saic indenture of settlement with the consent in writing of the saic Hannah Rebeeca Pye Rose during her life and after her decease anc during the minority or respective minorities of any child or children of her the said Hannah Rebecea Pye Rose of their or his own authority by any deed or decds writing or writings to demise or lease or join with the persons entitled to the other parts or shares of the said hereditaments thercinhefore mentioned in demising or leasing all or any part of the said hereditaments to any person or persous 'tor any term or number of years not exceeding twenty-one years to take effect in possession and not in reversion without taking any fine premium oy foregift for the making thereof and at such rent or rents and on such terms and conditions as the said Trustees or Trustee for the time being should think fit And whereas by an indenture dated the first day of January in the year one thousand cight hundred and fifty-eight 'and expressed to be made between James Pye of the first part the said Charles Tlenry Jacob Rose of the second part the said Charles Ienry Jacob Rose and Alfred Marsom Nash Rose of the third part the said Edward Payten and Hannah Rebecca Pye Payten his wife of the fowth part the said Alfred Marsom Nash Rose of the fifth part Reuben Uther Bartlett Rose of the sixth part Sarah Elizabeth Jane Rose of the seventh part Sarah Rose of the cighth part and Squire Mason of the ninth part being a decd of partition between the five younger children of the said Thomas Rose of the lands devised to them by his said will certain lands therein particularly deseribed and comprising fer alia the land deseribed in the Schedule to this Act were allotted to the said Hannah Rebecea Pye Payten as the fifth share of the said MWannah Rebecca Pye Payten of and in the lands and hereditaments so devised as aforesaid t for Power to accept sur- render of lease dated 50° VIC. 1886. Mrs. Payten's Estate Leasing. for her use and benefit by the will of the said Thomas Rose and were conveyed and assured to the use of the said Charles Henry Jacob Rose and Alfred Marsom Nash Rose as such Trustees as aforesaid of the hereinbefore recited indenture of settlement dated the twenty-fifth day of January one thousand eight hundred and fifty-three upon and for the trusts intents and purposes in the said indenture 'of settlement mentioned expressed and declared of and in respect of the undivided fifth part or share of the said Hannah Rebecca Pye Payten in the lands and here- ditaments devised by the said Thomas Rose to or for her use and benefit subject to the payment of an annuity to the said Sarah Rose which has since ceased And!whercas there is issue of the said marriage of the said Edward Pay ten and Hannah Rebecca Pye Payten now living And whereas by an indenture of lease dated the second day of September one thousand 'eight hundred and eighty and made between the said Charles Henry Jacob Rose and Alfred Marsom Nash Rose of the first part the said Hannah Rebecca Pye Payten of the second part and James Bentley Corbin and Phillip Nicolle of the third part the said Charles Henry Jacob Rose and Alfred Marsom Nash Rose in exercise of the power given to them in that behalf by the said indenture of settle- ment did demise and lease unto thesaid James Bentley Corbin and Phillip Nicolle a portion of the land comprised in the Schedule to this Act fronting Castlereagh-strect for a term of twenty-one years from the second day of September one thousand eight hundred and eighty subject to the rent and covenants and conditions therein reserved and expressed and whereas the buildings on other portions of the land described in the Schedule to this Act not comprised in the said lease are old and require considerable outlay to keep them in repair and the rent obtainable for the same is inadequate to the value of the land occupied by such buildings And whereas the land comprised in the Schedule to this Act could be leased as a whole on terms very advantageous for the persons interested therein if the said Trustees were empow ered to accept a surrender of the said indenture of lease of the second day of September one thousand eight hundred and eighty and to grant a lease or leases of the said lands for a longer period than twenty-one years and it is expedient and desirable to grant such powers to the said Trustees Be it therefore enacted by the Queen's Most Excellent Majesty by and with the advice and consent of the Legis- lative Council and Legislative Assembly of New South Wales in Parliament assembled and by the authority of the same as follows :— ~ 1. It shall be lawful for the said Charles Henry Jacob Rose 2nd September 1880. and Alfred Marsom Nash Rose or the survivor of them or other the Power to grant leases for thirty years, Trustees or Trustee for the time being of the said indenture of settlement dated the twenty-fifth day of January one thousand eight hundred and fifty-three (hereinafter called and referred to as the said Trustees or Trustee) to accept the surrender of the lease dated the second day of September one thousand eight hundred and eighty hereinbefore mentioned and of the term thereby granted And also from time to time with the consent of the said Hannah Rebecca Pye Payten during her life and after her death and during the minority of any of her children of their or his own authority by deed to demise and lease the land described in the Schedule to this Act and either subject or not subject to the said indenture of lease of the second day of September one thousand eight hundred and eighty to any person or persons or corporation who shall covenant to improve the same by repairing any building or buildings now standing or which shall hereafter be standing on any 'part of the Iand thereby leased or by erecting and building any house or houses building or buildings on such land or any part thereof or by otherwise expending i in improvements thereon such moncys as shall be deemed by the said Trustees or Trustee adequate to the interest 1886. 50° VIC. 83 West Wallsend and Monk-Wearmouth Railway. interest parted with but so that every lease under this power shall be for a term not exceeding thirty years to take effect in possession and shall he at such rent as the said Trustees or Trustee shall having regard to the terms and conditions of such lease think proper and reasonable and such rent may be for a less amount during the first year of the term thereby granted than for the residue of such term but so that nothing be taken by way of premium or foregift Provided that every indenture of lease made under the provisions of this Act shall contain a covenant by the lessee or lessees to pay the rent thereby reserved and for insurance against fire of any building or buildings erected or to be erected on the land thereby demised and also a condition of re-entry on non-payment of rent within a time to be therein specified or on breach of any of the covenants in such lease contained And so also that a counterpart of such lease be executed ly the lessec or lessees. 2. The said Trustees or Trustee shall pay and apply the rents Application of rents, and profits received by them or him in respect of any leases granted under the power conferred by this Act to the same person or persons for the same purposes and in the same manner as if such leases had been granted under the power of leasing contained in the said indenture 'of settlement. 8. This Act may be cited as " Mrs. Payten's Estate Leasing short title, Act." SCHEDULE. All that parcel of land situated in the parish of Saint James in the city of Sydney in the Colony of New South Wales being part of allotment number three of section thirty-nine comprised in a grant to Thomas Rose of two roods and twenty-six perches dated the ninth day of March one thousand cight hundred and_ thirty-seven which said land and premises are bounded on the east by Elizabeth-strect bearing northerly forty- three fect ten inches on the north by allotment number four bearing westerly one hundred and fifty-three feet on the west by Castlereagh-strect bearing southerly forty- four feet and on the south by another portion of the above-mentioned grant conveyed to Alfred Marsom Nash Rose bearing easterly to Elizabetl-street one hundred and fifty- three feet.