[Commencement 3rd September, 1959]

WHEREAS by an indenture dated the 5th April A.D. 1913 and made between Francis Manuel Menendez of the first part and others of the second, third, fourth and fifth parts and The Bahamas Plantations Company, Limited (hereinafter called "the Company") of the sixth part and now of record in the Registry of Records in the City of Nassau in the Island of New Providence in Book Z. 10 at pages 177 to 181 the parties of the first five parts granted, conveyed, released and confirmed unto the Company in fee simple All the hereditaments (hereinafter referred to as "the said hereditaments") described in the Schedule thereto which description is set out in the Schedule hereto:

AND WHEREAS the Company was not incorporated until the 8th April A.D. 1913, and The Bahamas Fibre and Produce Company, Limited in which the fee simple estate of and in the said hereditaments was vested was not joined as a party to the said indenture dated the 5th April A.D. 1913 to convey such fee simple estate to the Company:

AND WHEREAS by an indenture dated the 24th April A.D. 1913, and made between the Company of the one part and Adelaide Clarke Dolley of the other part and now of record in the said Registry of Records in Book W. 10 at pages 579 to 582 the Company conveyed the said hereditaments to the said Adelaide Clarke Dolley in fee simple by way of mortgage:

AND WHEREAS by an indenture dated the 7th May, A.D. 1914 and made between the Company of the one part and the said Adelaide Clarke Dolley of the other part and now of record in the said Registry of Records in Book W. 10 at pages 583 to 586 the Company further charged the said hereditaments to the said Adelaide Clarke Dolley:

AND WHEREAS by an indenture dated the 28th April A.D. 1922 and made between the Company of the one part and the said Adelaide Clarke Dolley of the other part and now of record in the said Registry of Records in Book S. 11 at pages 136 to 139 the Company granted and released the said hereditaments unto the said Adelaide Clarke Dolley in fee simple free from all right or equity of redemption and from all claims and demands under the said indenture of mortgage and the said indenture of further charge:

AND WHEREAS the said indentures dated the 24th April A.D. 1913, the 7th May A.D. 1914 and the 28th April 1922 were executed by and on behalf of the Company by its Director, The Nassau Trust, Limited only notwithstanding that the Articles of Association of the Company required that the seal of the Company be affixed in the presence of two directors.

1. All That lot of land situate in the Western District of the Island of New Providence and containing by admeasurement Seven hundred and ninety-five and one-half acres or thereabouts bounded on the Northwest by the Sea on the Southwest by a swamp and the Waterloo Estate on the Southeast by land belonging to William Joseph Menendez and on the Northeast by Crown Land the Love Estate and the Bradford Estate which said premises were formerly part and parcel of a lot of land originally granted to a certain Micklethwaite and of lands known respectively as Charlotte Ville Estate and Wilderness Estate or however otherwise the same way may be abutted bounded known or described.

2. All that piece parcel or tract of land situate in the Western District of the Island of New Providence called or known as "Love's" and containing Two hundred and Thirty-two acres bounded on the North by the Sea and on the East partly by land the property of Andrew Deveaux and partly by Vacant Land on the South by Vacant Land and on the West by land belonging to William Bradford or however otherwise the same may be abutted bounded known or described.