An agreement, made between Ellen Agnes Neame, wife of John Armstrong Neame, of Wanganui, schoolmaster (hereinafter called “the vendor”), of the one part, and the Corporation of the Mayor, Councillors, and Burgesses of the Borough of Wanganui (hereinafter called “the Corporation”) of the other part: Whereas Henry Sarjeant, late of Wanganui, gentleman, duly made and executed his last will and testament, dated the 12th day of April, 1910, and thereby appointed the Public Trustee of the Dominion of New Zealand to be his executor and trustee: And whereas, by the said will, the said testator, alter a bequest to his wife, Ellen Agnes Sarjeant (now Ellen Agnes Neame), absolutely of certain furniture and effects and other personal property, and a devise to her for her life of all his freehold properties within the Borough of Wanganui, devised and bequeathed to the said Public Trustee all the residue of hi? real and personal property, whatsoever and wheresoever situate, including his said freehold properties in the Borough of Wanganui, after the death of his said wife, upon trust to sell and convert into money his said trust estate, or such parts thereof as should be of a saleable or convertible nature, and to get in the remainder thereof, with full power to suspend for such period as his said trustee should deem expedient such sale, conversion, or getting-in; and upon further trust thereout, in the first place, to pay his funeral and testamentary expenses, and the expenses of erecting a suitable tombstone to his memory, and his debts, and all duties payable from his estate; and, in the second place, to pay certain pecuniary legacies by the said will bequeathed; and upon trust-in the last place, to pay or transfer the whole of the remainder of his trust estate to the Corporation, to be held by the Corporation in trust to establish and maintain in the Borough of Wanganui a fine-arts gallery, subject to the conditions and recommendations set out in the said will: And whereas the said testator died on or about the 12th day of February, 1912, without having revoked or altered his said will, and probate thereof was granted in the Supreme Court of New Zealand, Wellington District, to the said Public Trustee, as such executor as aforesaid, on the 11th day of March, 1912: And whereas, pursuant to the trusts of the said will, the vendor is now registered as proprietor of an estate for her life, as set forth and described in certificate of title, Volume 217, folio 136, in the lands described in the first schedule hereto, and the fee-simple in remainder thereof is vested in the Corporation: And whereas, pursuant to the trusts of the said will, the Corporation is seised of an estate in fee-simple in the lands described in the second schedule hereto, subject to an estate for life of the vendor therein: And whereas the Corporation has established in terms of the said will a fine-arts gallery in the Borough of Wanganui, known as the “Sarjeant Art Gallery”: And whereas for the purpose of enabling the Corporation to exercise more fully its powers of maintenance of the said Sarjeant Art Gallery it has been agreed that the vendor shall sell, and the Corporation shall purchase, upon the terms hereinafter appearing, the life interest of the vendor in the properties described in the first and second schedules hereto, excepting as hereinafter appearing: Now, therefore, it is hereby agreed as follows:—

THE FIRST SCHEDULE HERETO.

All those parcels of land containing together 3 acres 1 rood perches, more or less, and being Town Sections 31 and 368, and parts of Suburban Sections 26, 32, 37, 42, and 44, of the Town of Wanganui, and being the lands in certificate of title, Volume 217, folio 136, subject to—

THE SECOND SCHEDULE HERETO.

First, all that piece of land containing 25 perches, more or less, being Allotment 42 on a plan deposited in the office of the Registrar of Deeds at Wellington as No. 43 of a subdivision into allotments of Suburban Block No. 14 on the plan of the Town of Wanganui; and, secondly, all that piece of land containing 24f perches, more or less, being the allotment numbered 49 of the aforesaid Suburban Block No 14, as shown on the plans drawn hereon, edged red, subject to all tenancies affecting the said lands.