Description Agreement between Daniel McLeod and Thomas Watson

Outside:

“Agreement
Daniel McLeod
with
Thomas Watson and others
Dated October 5^th 1881”

Inside:

“This Agreement, made in duplicate this fifth day of October Anno Domini one thousand eight hundred and eight one. Between Daniel McLeod of West River in the County of Pictou farmer of the first part, AND Thomas Watson of Pictou, in the County and Province aforesaid, Bank Manager; Charles MacLellan of Rockport in the State of Massachusetts, in the United States of America, Trader; Charles D. MacDonald, of Pictou, aforesaid, Barrister,, and Robert P. Fraser of the same place Druggist all of the second part.

            Whereas by Indenture bearing even date herewith, made between the said Daniel McLeod and others of the first part, and the said Thomas Watson, Charles McLellan, Charles D. McDonald, and Robert P. Fraser of the second part the said Daniel McLeod did convey to the said parties of the second part, ALL such Ores, Minerals, Metals, Petroleum, Coal Oil, and other Mineral Oils and Mineral Substances of every nature and kind whatsoever, not reserved by the Crown, as may exist or be found within the limits of the lands owned by him the said Daniel McLeod in the County of Pictou, together with certain rights of entry upon said lands, and other rights and privileges in said Indenture more particularly set forth.

            Now this Agreement Witnesseth, that the conveyance made by the said Daniel McLeod in and by said hereinbefore recited Indenture to the said parties of the second part, is subject to the reservations, terms, conditions, covenants and agreements hereinafter set forth, that is to say:

FIRST: - The said Daniel McLeod hereby reserves to himself the one eighth part of all the Ores, Minerals, Metals, Petroleum, Coal Oil and other Mineral Oils and Mineral Substances of every nature and kind whatsoever, not served by the Crown, as may exist or be found within the limits of his said lands, which are described as follows:

All that lot of land situate at West River aforesaid and bounded as follows – on the north by lands of John Barry, on the east by lands of John Fraser, on the south by the waters of the West River and on the west by lands of Alexander McLeod and Robert Morrison containing two hundred acres more or less.

SECOND: - The said Daniel McLeod and the said parties of the second part, shall be co-partners for the purpose of searching for, mining, and disposing of all such Mineral Substances as may be found within the limits of the said lands above described, including the part reserved by the said Daniel McLeod any person, persons, or body Corporate, ALL or any of the Mineral Substances and Mining Rights and Privileges conveyed by said hereinbefore recited Indenture, including the reservation above made.

THIRD: - ALL expense and outlay incurred by the said co-partnership in connection with the said purpose shall be borne by the said parties of the second part, and the said Daniel McLeod shall be free from all liability therefore.

FOURTH: - The gross Receipts of the said Co-partnership business, and the gross amount acquired by the sale of the said Co-partnership Property shall be divided between the parties hereto, in the following proportions, that is to say: one eighth part to the said Daneil McLeod and the remainder to the said parties of the second part.

FIFTH: - None of the said co-partners shall be at liberty to sell his undivided share in the Co-partnership Property to any person other than one of the parties hereto, without the consent, in writing, of the majority of the other Co-partners.

SIXTH: - In case any four or more of the said Co-partners shall agree to sell any part of the whole of the said Co-partnership Property to any person or persons, or body corporate, they shall be at liberty to do so notwithstanding the dissent of the remaining Co-partners; and any conveyance of said Property, or any part thereof, duly executed by the four or more so agreeing, shall be as valid to convey the undivided shares of the remaining Co-partners, as if concurred in and executed by them, AND in case any difference or disagreement shall arise between the said Co-partners, touching in any way the said Co-Partnership business, the decision of four o more of them shall be binding upon the others and any act done by four or more of them shall be as affectual as if done by all.

SEVENTH: - The said Daniel McLeod shall not be entitled to receive any rent for the use of his land, nor damages for injury caused thereto, by the said Co-partnership, except where injury is done to growing crops, or buildings, in which case damages to be appraised as hereinafter provided, shall be paid to him therefor.

EIGHTH: - In case the Co-partnership hereby formed, or any person or persons or body corporate, to whom the said partnership property may hereafter be sold, shall require any part or parts of the said lands for the erection of buildings, machinery, or appliances of any description, and shall demand from the said Daniel McLeod his heirs, executors, administrators, or assigns, a conveyance of the same, then he the said Daniel McLeod his heirs, executors, administrators, or assigns, upon tender of the full price thereof to be fixed as hereinafter provided, shall duly execute and deliver to the said Co-partnership or to their assigns, a good and legal conveyance, either in fee simple or for any term of years of the said part or parts of said land.

NINTH: - The amount of damages payable to the said Daniel McLeod under the Seventh Section of this Agreement, and the price of land of which a conveyance is demanded under the Eighth Section, if not fixed by mutual agreement, shall be decided by the award in writing of three Arbitrators, or two of three Arbitrators appointed as follows, one by the said Daniel McLeod, his heirs, executors, administrators or assigns, one by the parties of the second part their heirs, executors, administrators, or assigns, and the third by the two so appointed, or in case of disagreement the said third Arbitrator to be appointed in the manner prescribed by the Revised Statues, Chapter 109 “of Arbitration,” and all proceedings in connection with said Arbitration shall be in writing.

And the said Daniel McLeod for himself his heirs and each of his heirs executers, administrators and assigns doth hereby covenant, promise and agree to and with the said parties of the second part, their heirs, executors, administrators, and assigns, and the said parties of the second part for themselves and each of them, their and each of their heirs, executors, administrators and assigns, DO hereby convent, promise and agree to and with the said Daniel McLeod, his heirs, executors, administrators and assigns, as follows, that is to day:

That he the said Daniel McLeod, his heirs, executors, administrators and assigns, and they the said parties of the second part, their heirs, executors, administrators and assigns, shall and will mutually, well and truly observe, fulfill, and keep all and singular, the agreements, terms and conditions of the foregoing Agreement, by him the said Daniel McLeod and them the said parties of the second part, the one to the other to be observed, fulfilled, and kept.

In Witness Whereof, the said parties to these presents have hereto their hands and seals subscribed, and set the day and year first above written.

Signed, Sealed and Delivered,
                        in presence of
                        James McRae              }                                                          Daniel McLeod

                                                                                                            Watson

                                                                                                            Charles McLellan

                                                                                                    Charles D. MacDonald      

                                                                                                            Robert P. Fraser”