To all to whom these presents shall come The Florida Land
and Mortgage Company Limited a Company incorporated in England under the Companies Acts 1862 to
1880 and having its present Registered Office at No 20 Bucklersbury in the City of London hereinafter called the
Company SENDS GREETING WHEREAS by an indenture made the twenty-ninth day of October one thousand
eight hundred and eighty three between the Company of the one part and Charles Townshend Murdoch, The Hon-
ourable Leonidas Moreau Lawson and Jan Anne Languerhuizen (thereinafter and hereinafter called "the Trustees")
of the other part   After reciting that the Company was seized for an estate of inheritance in fee simple of the lands
situate in the State of Florida in the United States of America therein described the Company granted and assigned
unto the Trustees their heirs and assigns (among other things) the said lands   To hold unto and to the use of the
Trustees their heirs and assigns  Upon certain trusts therein set forth being trusts for securing to the holders of
certain Debentures therein mentioned the principal moneys interest and premiums payable thereunder in manner
following that was to say  Upon trust that until some default should be made in payment of some principal moneys
secured by the said debentures or in the payment of some interest or premium on the said debentures for the period
of Three Calendar months after such principal moneys interest or premium respectively should become due according
to the terms of the said debentures the Trustees should permit the Company and its assigns to hold and enjoy the
said lands and to carry on all or any part of the business of the Company thereon and therewith and for that purpose
sell and dispose of the said lands or any part thereof   And from and after such default as aforesaid upon the
trusts in the now reciting Indenture contained PROVIDED ALWAYS and it was by the now reciting Indenture
agreed and declared that so long as and from time to time whenever no moneys should be immediately due and
owing upon any of the said debentures and so long as and whenever even although there might be money due and
owing thereon the Trustees should not have been requested as therein mentioned in virtue of the moneys so owing
to make entry or sale and for the period of Three Calendar months after receiving such request the Trustees should
permit the Company to sell or dispose of and should convey and join in and execute all such documents and do all
such acts and things as might be deemed by them expedient for the purposes of assisting the Company to sell dispose
of and convey such part or parts of the said lands or any interest therein at such price or prices and on such terms
as the Company might from time to time think fit and permit the Company to receive and retain for the use of the
Company the proceeds to arise from any such transactions.  AND whereas by an Indenture dated the second day
of July one thousand eight hundred and eighty four and made between the Company of the one part and the Trustees
of the other part it was agreed that not withstanding the proviso in the hereinbefore recited Indenture that the
Trustees should under the circumstances therein mentioned permit the Company to sell and dispose of and should
convey such part or parts of the said lands or any interest therein as therein mentioned and permit the Company to
receive and retain for the use of the Company the proceeds to arise from any such transactions and that notwith-
standing any other proviso or trust in the hereinbefore recited Indenture contained the following provisions should
take effect that was to say (a) The Company should not except with the previous consent in writing of the Trustees
be entitled to sell and dispose of at such price or prices and on such terms as the Company might from time to time
think fit before the first day of January one thousand eight hundred and eighty six a larger quantity of land than
fifty thousand acres in all or such smaller quantity of land as would produce the sum of one hundred thousand
dollars purchase money (whichever limit should be first reached) and the Company should except with such consent
as aforesaid only be entitled to sell and dispose of the remainder of the said lands being two million two hundred
and fifty thousand acres should be made at a less price than one dollar per acre net such price to be
paid either immediately on the execution of the Contract for sale or other disposition or on completion or by
instalments after completion of the purchase or other disposition but if such payment be by instalments after
completion of the purchase or other disposition the balance for the time being of the money agreed to be paid should
be secured until payment by a charge or lien on the property sold or disposed of  (c) One half of the net proceeds
of every sale or disposition of any part of the said two million two hundred and fifty thousand acres should be paid
by the purchased into the hands of the Trustees or their Agents to be held upon the trusts in the now reciting
Indenture referred to AND whereas by a Deed Poll or Power of Attorney dated the nineteenth day of
December one thousand eight hundred and eighty three under the Common seal of the Company the Company