[Commencement 3rd September, 1959]

WHEREAS by an indenture dated the 24th April A.D., 1913, and made between The Bahamas Plantations Company, Limited (hereinafter called "the Company") of the one part and Adelaide Clarke Dolley of the other part and now of record in the Registry of Records in the City of Nassau in the Island of New Providence in Book W. 10 at pages 579 to 582 the Company conveyed to the said Adelaide Clarke Dolley in fee simple by way of mortgage 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 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 Charles S. Dolley and Ella Bowen executed the said indenture dated the 24th April, A.D. 1913 and Charles S. Dopey and Paul A. Meeres executed the said indenture dated the 7th May A.D. 1914 and the 28th April A.D. 1922 respectively as President and Secretary respectively of The Nassau Trust Limited which purported to act as the director of the Company:

AND WHEREAS The Nassau Trust Limited was an unincorporated association of individuals and doubts have arisen as to whether such association could validly act as a director as aforesaid.

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 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.