TERMS OF PURCHASE.

Lyttelton Times, Volume I, Issue 7, 22 February 1851, Page 2

TERMS OF PURCHASE.

[The following are the altered Terms of Purchase which were issued after the second portion of the first body of Land Purchasers Avas made up. As these terms are new to most of our readers-we insert them at length] :— 1. With the exception of such land as has already been or may hereafter be selected by the agent of the Association for the site of the capital town, and of harbour and port towns, and of such land as may be reserved by the Association for works of public utility under the present or any other terms of purchase, all the lands shall be open for purchase as rural land. N.B. The Association has resolved not to exercise the right; of selecting the sites of towns beyond the site of the capital; and in case Port Lj'ttelton should not be selected as the capital, then of one port town. 2. Any quantity of land may be purchased as a rural allotment, not being less than 50 acres. Any person desirous of purchasing land in distinct allotments may do so by separate forms of application, each allotment not to be less than 50 acres. The extent of a town allotment shall be one half acre ; and in the port town, if any, one quarter of an acre. 3. The rural land shall be sold at 31. per acre, including the sums contributed for special purposes. Town allotments may be sold in the Colony in the following manner: An allotment of half an acre in the capital at 24/., and an allotment of a quarter of an acre in the port town, if any, at 121. ; but no such; allotments shall be sold upon the foregoing terms without being first put up for sale by auction, at upset prices of those amounts respectively. ■4. All land for the time being remaining unsold shall be open, under licence, for pasturage purpose, at the rate of 20s. per annum for every hundred acres. And until 100,000 acres, being the quantity of land originally appropriated to the first body of colonists, shall be sold, every purchaser of rural land, and ,no other person, will be entitled to a transferable license for pasturage, renewable by such purchaser from year to year, in the proportion of five acres of pasturage to one acre of land purchased. 5. Holders of pasturage licenses under the last condition, will be entitled to a pre-emptive right of purchase of the lands comprised in such licenses, subject to the conditions herein contained, applicable to the purchase of rural land, except that instead of applications for purchase being made to the secretary of the Association, and the purchase-money being paid to the bankers of the Association, such applications may be made to the principal agent of the Association at the Land Office in the Colony, and payment of the purchase-money may be made to him. 6. Lands held under pasturage licenses may notbe purchased by any persons other than the licensees, until after one month's notice in writing given by an intending purchaser at the

Land Office in the Colony, stating the inteil^ tion to purchase, and specifying the lands proffT posed to be purchased ; the intending purchuv ser being' required at the time of such notice to deposit his full purchase-money at the Land Office. N.B. Pasturage, Licenses will confer no. right to the soil. 7. Subject to the foregoing conditions, all lands included in such pasturage licenses will be open for purchase in like manner as other unappropriated lands. ■ 8. Applications for the purchase of rural land must be made according to a printed form which may be obtained at the office of the Asso- *„ ciation, 29, Cockspur Street. Before any application can be received, one-half of the pur-chase-money must be paid to the bankers of the Association, Messrs. Cocks, Biddulph and Co., Charing Cross, and their receipt produced. Land Orders will not he issued until the purchase money shall be paid in full. Land Orders will be issued according to forma which may be seen at the office of the Association. 9. The selection of land in the Golony will be made according to the order in which Land Orders shall be presented at the Land Office of i the Association in the colony. But if it should ! ever so happen that two or more persons should '■■ aPPty at tae same time for the same allotment, the preference of selection between them shall be determined by lot. 10. Every allotment of Eural Land must be selected of a rectangular form, so far as circumstances and the natural features of the country will admit. 11. Every allotment fronting upon a river, road, lake, lagoon, or coast, must be of a depth from the front of at least half a mile. 12. Every allotment not fronting upon a river, road, lake, lagoon, or coast, must be not lessthan 300 yards in width, and not less than half a mile distant from a river, road, lake, lagoon, or coast. 13. Each section under a Pasturage License must be in one block, and of a rectangular form as far as possible. 15. The intended application of purchasemoney is as follows : one-sixth part is to be paid for the land ; one-sixth part for miscellaneous expences, including surveys, roads, &c.; onethird part for religious and educational purposes ; and one-third part for emigration. Subject to the regulations of the Association with respect to the selection of the emigrants, every purchaser will be entitled to recommend emigrants, proportioned in number, to. the amount of his contribution to the Emigration Fund; but not more than ten shillings per acre will be allowed towards the passage of the purchaser and his family. 15. The Association reserves to itself the right of selecting, and appropriating, and obtaining a Conveyance to itself, for public use only, of all such lands as may be required for streets, squares, roads, sites of churches, churchyards, schools, parsonage-houses, wharfs, land-ing-places, jetties, or other objects of public utility and convenience. 16. The Association reserves to itself the right of making such modifications in these terms as experience may prove hereafter to be expedient or deisrable for the general benefit of the Settlement, and as may be consistent with the con- - ditions under which the land has been'reserved to the Association. N.B. No Rural Land will he sold in the Colony until after due notice to that effect. '•* Subject to the engagements which tbe Asso-" ciation has made by previous Terms of Purchase, Town Land maybe sold in the colony at any time after the date of these Terms of Purchase. And the foregoing Conditions shall (so far as they properly can) apply to « such Town Lands, except that instead of § applications for purchase being made to the Secretary of the Association, they may be made to the principal ageut of the Association at the Land Office in the Colony; and instead of the purchase-money being paid to the bankers of the Association, tbe same must be paid to such Agent. By order of the Gommit'ce of Management, 11. F. ALSTON, Secretary, ficpt. 25, 1850.