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 ■iiiiMiriiim'iniMiiiwiMirfnmiTTnMWiirinriwinMMi 
 
 r^ IvBASB. 
 
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 i^ 
 
 EW BRUNSWICK ntWIlY 
 
 TO 
 
 FOB 990 YEARS 
 
 I>A.'rE>r> I^IK^'T JUT^Y, ISOO. 
 
 ^^; 
 
 MONTREAL. 
 
 189^. 
 
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 FOR !)1H) Yb:AKS 
 
 I>^VTrKl^ l^IRSa^ JXJl^Y, 1^41>0. 
 
 MONTREAL. 
 
 1890. 
 
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 V 
 
 V 
 
 
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LKASE 
 
 NEW BRUNSWICK RAILWAY COMPANY 
 
 1-1 
 
 TO 
 
 CANADIAN PACIFIC RAILWAY COMPANY 
 
 FOR 1)90 YEARS, DATED Isr JULY, 1890. 
 
 %\XXS ^indCntXXXC made th. fnvst day of 
 July ill the year oi' our Ijord ouo thousand oi;^ht 
 huiidred and ninety betwet^i Tii,<: Nkw Brun.swick 
 IvAiLWAY Company, hereiuntter called the Lessor, oi" the 
 one p'irt, and TiiE Canadian Tacjifio Kaiiav ay Company, 
 hennnal'ter called the Les&ce, of the other part . 
 
 Whereas the Lessor is the owner of certain lines of 
 railway ni the Province of New lirunswit'k, Dominion of 
 Canada, which it has constructed under its Act of Incor- 
 poration and v/hich are mentioned in the schedule hereto 
 attached and are therein respectively distinguished by the 
 letters A, B, C and D, they beino- (together with other 
 properties as hereinafter mentioned) subject, by virtue of 
 the two several mortgages to the Central Trust Company 
 of New York, hereinafter mentioned, to an annual charge 
 of 80,000 pounds sterling and 12,000 pounds sterling 
 respectively ; 
 
;«.;;v.i«f,V;i,.; 
 
 Andwiikimoas. l)y ii corlaiii IikU'IiIuic ol" Ic.isc. nuulotho 
 (\V('iity-s»'<()ii(l (liiy of August, A. 1). lSH-2, \v}ii< h \v;i>s toii- 
 liriiicd hy the Pailiamciii ol' the Dominion of (';iH!i<hi 
 iind llie ]i('<j;islalur(' oi th(> I'loviiicc oi' N<'W Bruiis. 
 wi<'k, Iht' New Uruiiswit'k and (^anadaliailioiid (^Jiiipaiiy 
 did demises and lease to tlie Lessor, its succi'ssors 
 and assij^ns, I'or a term ol' nine hundred and ninot y-nine 
 years from the lirsl (hiy of July, A. 1). l!^S-2, all its 
 railroad and other pi'operty and rin'hts ol projxTty as 
 therein described (which included those, lines of railroad 
 lettered ]*1, V and 1 in the s;iid schedule); also, all that 
 r;iilroiid, known as the St. Croix Railroad in the State 
 ol" Maine in th(^ United States (lettered .1 in the said 
 schedule), and its appurtenances and its interest in and 
 to the railroad known as the Vaucel>oro' branch (h'tler«'d 
 Gr in the said scheduh ). *l^t' title to one-hali' interi'st 
 therein beiii"- held by the New Drnnswick and (^nnida 
 Railroad C^)nipany by virtue oi' a lease and the other 
 hall" interest bein<>- owned by it absolutely, and also its 
 interest in and to a railroad, known as the Iloulton Uranch 
 (lettered H in the said schedule), the title to which 
 was then hold by it under h^ase, and all its rigvhts, 
 title and interest in and to any other railroad or branch, 
 upon the terms, conditions, provisoes and covenants 
 therein set out, which ir eluded anion<^st other things 
 the payment by the New Brunswi(;k Jiaiiway Com- 
 pany of the following annual charges, that is to say : 
 
 (1) Interest at three and a half i>er centum oii eighty- 
 two thousand pounds sterling of perpetual guaranteed 
 debenture stock, issued by the New Brunswick and 
 Canada Kailroad Company ; 
 
 (2) |(i,000 interest on a iirst mortgage of 1 100,000, 
 executed by the St. Stephen Branch Railroad Company ; 
 
 I 
 
I.kIc I lie 
 .';is t ((11- 
 
 Hruiis. 
 )iii|);tiiy 
 •ccssors 
 
 I y-niiic 
 all its 
 
 I'l'ty MS 
 ;iili-<)ii(l 
 
 II thai 
 e Stale 
 h(> said 
 
 ill and 
 t'tlcrcd 
 iitcrcst 
 Canada 
 other 
 til so its 
 JJraui'li 
 which 
 rig'hts, 
 ^raiuh, 
 tenants 
 things 
 r Coni- 
 ty: 
 
 L'ighty- 
 autucd 
 •k and 
 
 00,000, 
 ipany ; 
 
 i 
 
 (:i) !fi:^.,000 int. 'Vest on a, s.vond niorluauv of ^."lOjiOd, 
 oxt'cntt'd |»y Iht' last nauh'd Conipanv ; 
 
 (4) ^l.'JOO init rest on a niorti'-iu'c ••!' ^'20,000. cxt'iuted 
 by the Woodstock Uailway (Company ; 
 
 (T)) ill, 1 10 intorpst on a niortiinii-c of !<>;24,0(io, fxc. utcd 
 hy the Company known as the lloulton Ih'anch ii'ailroad 
 Company in Main*' ; 
 
 ((J) .1.1, 080 rent to the List named Company; 
 
 (7) 81J<J!> rent of an undivided half of the said Yance- 
 boro" liranch, and s:jr),l()0 rent to the New llrunswick 
 and Canada IJailroad Comi)any ; 
 
 And wniaiRAr^, sineo the makiniy of the said lease, th(» 
 said mort<i'au<' I'or twenty thousand dollars matured and 
 has l)een rephiced hy a new mortgage on the railroad ot 
 said Woodstock Railway Company known as the Wood- 
 stock Ih-anch lor the like amount, uiven by the N<nv llruns- 
 wick and Canada Uailroad Company to .1. Kennedy Tod 
 and Henry Osburu as Trustees lor the New llrunswick 
 Ivailway Company in pursuance of Article VI 1 1, ol'thesaid 
 lease; and the said two iiioitgages, one ol' one hundred 
 thousand dollars and on^' of lil'ty thousand dollars, 
 both on thi- railroad ol' the St. Stephen Branch Rail- 
 road Company matured and have been replaced by one 
 new mortgage thereon, Tor one hundred and lil'ty thou- 
 sand dollars, given by the New Brunswick and Canada 
 Kailroad Company to J. Kennedy Tod aiul Henry ( )sburn 
 as Trustees for the New I5ru!iswi(jk Railway Company 
 in pursuance oi' Article Vlll. oi' the said lease, whereupon 
 o])ligations of the New Hrunswi<;k and Canada Railway 
 Company, called mortgagee debentures, aggregating the 
 

 
 same amount ms Iho said <hr<'(» m()rli»!ii>'('s, n:inu'ly, 
 i|170,0()0, wtTo issued iiud th(^ pnyiucnt of tho iiil<M-osl 
 thon^ou at Ihc sninc riilc, njimoly, six per ('cntuni ixt 
 annum, was u^uaranlot'd l)y the LcKsor, and (hose obliufa- 
 tions, as w<'ll as thf said two niorli»'ag('s sriycMi lo 
 sof'ur(» the sanio, arc still outslandin^-, whoroby thn 
 said annual chari-es ol' )ii;ii,()0(), !|M,(J0O and sS; 1,200, rosp»M;- 
 tively mentioned in the next precediui^- parauraph are 
 still existing ; 
 
 And WHEHEAS, by a certain Indenture of leaso, made 
 the twenty-lirst day of May, A. 1). 1.S8;}, which was con- 
 iirmcnl by an Act of the Parliament of Canada, the St. 
 John and Maine^ Railway Com])any demised and leased 
 to the Lessor, its successors and assigns, for a period ol" 
 nine hundred and ninety-seven years from the tjrst day 
 of July, A. T). 188o, all that line of railrt)ad from Vanco- 
 boTo' to Fairville, of a length of about eighty-cnght miles, 
 therein des(Tibed (letter»'d K in the said schedule), 
 and its rolling stock, property, moveable and immove- 
 able, situate in the Province of New Brunswick, upon 
 the terms, conditions and covenants therein set cmt ; 
 and amongst others on the condition, in etlect, that 
 the New Brunswick Railway Company should pay half 
 yearly by way of rent on the lirst day of the months of 
 April and October in each year the lixed sum of two 
 hundred and llfty pounds sterling, and also either 
 eighty-eight four hundred and twentieth parts of twenty- 
 three hundredths of the half-y«>arly aggregate gross earn- 
 ings therein described, or two thousand seven hundred 
 and llfty pounds sterling, whichever should be the larger 
 amount ; 
 
 I 
 
 And WHEREAS, since the execution of the last mentioned 
 Indenture, certain agreements, supplemental thereto and 
 
 I 
 I 
 
mm 
 
 inlorost 
 iiiii p<>r 
 
 ' <>l)li<rji- 
 
 by Hm 
 , r»'s|)('(- 
 •Mph iire 
 
 so, raadf 
 kViis con- 
 IhoSt. 
 
 (I IcMSl'd 
 
 x'liod ol' 
 • list (liiy 
 I Viiiicp- 
 li inilos. 
 h('(lul<'), 
 iminove- 
 k, upon 
 st'j oui ; 
 ct, that 
 pay hair 
 ouths ol' 
 1 of two 
 o cithiT 
 t\v«'iily- 
 )ss viini- 
 huiulrod 
 
 l«^ hll'U'cM" 
 
 >iilioii«^d 
 reto and 
 
 I 
 
 rchitinu,' to rollinii; stock and other ni!itt«'rs have hccn 
 outercd into })«»tw«MMi the Si. .hdni and Maim- Uailvviiy 
 Company 'ind the liCssor, thai is t(» say, oUf, dated the 
 ninlli day ol' Auii'iist, A. 1). IHS:!. oni', dated thi' twenly- 
 soventh (hiy of December, A. 1). l8H;i, and one, dated the 
 eiulijcenth day ol' January. A. 1). IHDO, all of whicii iiave 
 })tM'n produced to and inspected by the Lessoe ; 
 
 And WFIKKEAS, by an Indenture of lease, dated the 
 twelfth day of January, AD. ISTiS, the Aroostook UMver 
 Ivailroad Company, a Company duly incorporated by the 
 laws of the State of Maine, did demist> and lease to the 
 Lessor, its successor and assinns. all that line of railroad, 
 comniencini»' at a point on the boundary line between 
 Maine and New Brunswi<k, and runninu' to Fort Fair- 
 lield and thence to the viilag'e of C/ariboo, in the 
 town of Lyndon (lettered L in the said schedule), 
 for a term of nine hundred and ninety-nine years 
 from the dale IlKM'eo!', upon the terms, conditions and 
 covenants set onl in the |;u»t named Indejiture, which 
 is duly n'corded in the IJeuistry of Deeds of the County 
 of Aroostook in the said Stale of Maine ; 
 
 And WHKUEAS, by another Indenture, dated the lirst 
 day of September, AD. 18S.'), made between the said last 
 mentioned two Companies, the said Indenture, dated l-th 
 January, A D. 1STH, was ratilied and coniirmed, and it 
 was also I h(»reby deilared and agnn'd, that the said Inden- 
 ture^ and the sev«*ral agrecnnents and provisions thereof 
 should extend to aud include the line of railroad, then in 
 operation between the said villai>v of (Jariboo and the 
 town of Presque Isle, in th<^ said State of Maine (lett«M'ed 
 M in the said scIkmIuI''), and also any other railroad, 
 constructed under and by virtue* of the charter of the said 
 Aroostook River Kailroad Company ; the rental being one 
 dollar per annum ; 
 
And wtterear, by an as-roomoiil, dated l.ho first da}'^ of 
 .Taiiiiaiy, A.D. 188(1, IxHwt^cn Ilov Mitjcsty, iho Queen, 
 r<'present(>d hy the Minister of liuilvvays and C'iinals, and 
 the Lessor, running- powers were i^-ran led to the Lessor on 
 the Carleton Brunch liailroad from FairviUe to C'arhMon. 
 on the western side of the harlMir of St. John, and run- 
 ning powers wert'also gr'\nted to Her Majesty, the Queen, 
 over the Lessor's seetion of railroad, from Fairvilh' to 
 the St. John eantilever l>ridg'(\ on eeriain terms and condi- 
 tions, in the said a<»Teement contained, as hy refcrcMice 
 thereto will more fully ai)pear ; 
 
 And whereas the Lessor did, on the iirst day of 
 Aui'-ust, A.D. 1885, execute a mortgag'e to the Cenirnl 
 Trust Company of New York to secure the paynn^nt ol' 
 ])onds, issued bjMhe Ltissor, to the amount of six huiidred 
 thousand pounds sterling, which mortgiiue includinl only 
 the said railronds, owned ])y the Lessor and the ,'■ aid Aroos- 
 took River Ivifilroad Company, tog<'thcr with certain tim- 
 b(^r lands and other lands, owned hy the Lessor and 1 herein 
 destn'ibed ; and did, by anotht^r mortiiage, dated th(^ tenth 
 day of August, A.D. 1887, convey to the said Central 
 Trii.^'t C^ompany, to secure the paymt^it of a further 
 issue o{' ]>onds to the amount of two hundred tln)usand 
 pounds sterling, all the said lines of railrond, above men- 
 tioned, as well as the said timber lands and other lands, 
 and also the capital stock of the Fredericton Railway 
 Company, which stock was ownied by the Lessor; 
 
 And whereas certain portions of the rolling stodv 
 and equipment of the Lessor are subject to certain 
 trusts, contained in certain agreements, namely, an 
 agreement datt^I the second day of Novcnnber, A.D. 1885, 
 betwet^n Sir George Stephen and others, of the iirst part, 
 Walter Watson, Trustee, of tht» second part, and the 
 
I 
 
 lirst (la)^ of 
 tlio Queen, 
 
 'nnals, uiul 
 Lessor on 
 
 o C^irleion, 
 1, and run- 
 
 theQuoon, 
 ^'airville to 
 ; and eondi- 
 y roter(MU(» 
 
 9 
 
 Lessor, of ihe third piirt. ond ;ilso, nn na'reement, snpple- 
 nientiU-y thereU*, ln'l.wern !he snid parlies, daied Ihr lirst 
 day of Ani>'usl, A.D. IS.SS. which, taken l(>u'elh"r. eviclmce 
 an ininnibraiice on sneli I'oliinu' stock ;''(l ('([uipnient ^t[ 
 .^210,000. upon which ihe iinnual ch.i.rge nmounts to 
 >fiil2.!)00; 
 
 A\n wiiEKRAS tiiere ;irc lloatiiiu- o])liu;iti()ns of tlic 
 Lessor now outstMiidiiiu' ;iiid amounlini>' to ahoul the 
 suni of i|400,000 ; 
 
 irst day of 
 
 the CN'iitral 
 
 piiynienl ol' 
 
 six hu)idred 
 
 eluded only 
 
 ^ i-nid Aroos- 
 
 cerlain tini- 
 
 • and t herein 
 
 (m1 the tenth 
 
 laid Central 
 
 r a lurlher 
 
 ed thousand 
 
 al)ove nien- 
 
 other lands. 
 
 on Railway 
 
 ssor; 
 
 oiling- stock 
 to (HM'tain 
 namely, an 
 r, A.D. I8S5, 
 lie lirst part, 
 irt, and the 
 
 And whereas, luuL^r an Act oi' the Parliament of 
 Canada, passed in the lift y-third year of the reiun of Her 
 Majesty, intitnled " An Act respectiuL;- tln^ New r>runs- 
 wick Railway Company," the New lirunswick Rail- 
 way Company is authorized to^ issue consolidated dehcii- 
 ture stock in the manner and for the amounts stated in 
 the said Act, and it has hc-'ii agreed ])elvvccn the parties 
 hereto and as a i)arl of the consideration for this lease 
 1 hat the Lesseeshall guaraiil'-e, as is hereinafter mentioned, 
 the interest, as it shall from linii! to rimi^ fall due, upon 
 all the consolidated deheiiture stock, which may he 
 issued in pursuance of tlie |)rovisions of that Act ; 
 
 A\n wilEKEAS it is inteiuh'd. that the ])roceeds of all 
 the said consolidated del), nture stock shall he appli<'d. 
 under the supervision ami control of the Ticssee towards 
 the im})rovenient of the pro[)erties. demix'd hy these pre- 
 sents, in so fai- as such proceeds may not he required or 
 used for the purpose of satisfying or aequiring the pre- 
 sent outstanding' ohligations of the Lessor, as herein stated 
 and set forth and as int(Mided to he salislied aiul acfjuired 
 within the meaning of the last mentioned Act of Parlia- 
 ment ; 
 
i-^iiii.iiiiii iMmmtmrn 
 
 10 
 
 And whereas it has boon ai»Tood and concludod ])o- 
 twoon the pnriios to this Indontnro, that tho Lossoe shall 
 lease and oporato all tho said linos of railroad, upon tho 
 tornis horoinal'tor sot Ibrth ; 
 
 Now THEREFORE THIS INDENTURE WITNESSETH, that 
 
 Iho parties horoto havo mutually agrood, oach for itsolf, 
 its succossors and assjo'ns, with tho other, its successors 
 and assigns as follows, that is to say : 
 
 The Lessor doth hm-eby grant, lease and demise unto 
 the Lessee, its successors and assiuns, all tho lines of rail- 
 road, mentioned or reftnTod to in the scheduh^ hereto 
 attached, and having an aggregate length of about 4'20 
 miles, (all the said linos of railroad IxMiig hereinafter re- 
 ferred to in the aggr(\gato as " tho New Brunswi(^k 
 >?ystem"), together with, their appurtenances and Iho 
 appurtenances of each of them, including amongst other 
 things all lands, oiH'upiod, used or acquircul for the pur- 
 pose of being used in conneotion with tho construction, 
 maintenance or operation of tho Now Ih'unswick System, 
 or any part thereof, and i'.i.^nding also the right of way, 
 road bed, tracks, sidings, superstructure, })ridgos, viaducts, 
 culverts, loncos, shops, stations, docks, wharves, piers, 
 engine houses, car houses, fri'ight houses, engine shops, 
 and all other odilicos, shops and structures, hold or used, 
 or intended, to ho ludd or used, in connection with the 
 construction, maintenance or operation of tho Now 
 l^runswickfSystom or any part thereof, and all machinery, 
 plant, rolling stock, equipment, tools, furniture and 
 implements anil all other goods and chattels of every 
 kind, now owned or held or used by the Lessor for tho 
 purposes of the New Hrunswick Syst^nn or any p.-irt 
 th«n-eof, and all tolls and rovenu(\s, which may or might 
 bo derived or derivable^ from the Now Brunswick System, 
 
11 
 
 eluded l)p- 
 
 .t\s.soe shall 
 
 ^, upou tho 
 
 ^SETII, that 
 or itsolt', 
 successors 
 
 1 
 
 Bmiso unto 
 lies of rail- 
 ule hereto 
 about 420 
 eiiiarter re- 
 Brunswick 
 s and the 
 iiii>st other 
 r the pur- 
 iistruction, 
 ick System, 
 ;ht of way, 
 s, viaducts, 
 ry<'s, piers, 
 fine shops, 
 Id or used, 
 u with the 
 the ISTcnv 
 Tiachinery, 
 liture and 
 5 of every 
 ior for the 
 any part 
 r or mio-ht 
 -'k t:^ystem, 
 
 or any branch, siding' or (^xti'iisioii conn<^(tini>' theri^vith, 
 as well as all rii^'hts, privileu'cs, powers, innnuiiiti'^s, 
 exemptions and corporate and other frMnchiscs. which 
 can or could be held or enjoy'd in respect of (lie New 
 l»runswi('k Systcmi or any part or parts thoreoi, iiKdudinu' 
 all I'urthfM' riuht, title and interest of the Lessor, if tiiere 
 be any, in and to any and all raih'oads, opi^rated by it 
 under lease or otherwise, whether mentioned or not men- 
 tioned in the said schedule, and in and to any contract with 
 any other railroad com})any, corporation or individual in 
 respect of the business of the New IJrunswick System or 
 any part thereof and all advantages and benelils to l)e 
 derived therefrom, save and except the line of railroad 
 from l*'rederictoii Junction to the City of Fredericton and 
 save and except the said timber lands and othcu' lands of 
 the Lessor, which the Lessor mortgaged as aforesaid to 
 the said Central Trust Company of New York, but not 
 excepting the said several lines of railroad or any of the 
 lands used therewith or in anyway aj^purtesiiant thereto ; 
 
 To HAVE AND TO iioTii) the Ncnv Ih-uuswick System 
 and all the ]n'Oi)erties, real and personal, and the rights, 
 title and interest, privileges, fi-aiichises and all theoiliei" 
 pivnnises abovt^ described oi inteiubnl so to be, from and 
 after the date hereof until the (^id of nine hundred and 
 ninety years, to be comi)uted tVoni the first day of 
 •Tvdy. one thousand eiuhi hundred and nim^ty, the 
 Lesse(% its successors and assigns \ i(>ldinu' and paying 
 therefor yearly and every year durinu' the said period 
 (which p(M'iod is hereinal'tcr referi'ed to as " the said 
 term '') the several amou'its. which are hereinafter spivi- 
 lied as rental, and which ihe Lessee hereinafter sptH^JIic- 
 ally covenants to pay, the same to be paJd by instal- 
 ments at the resp(H;tive days and times and at the resj)ect- 
 ive places, if any. hereinafter specified for that purpose. 
 
12 
 
 ' Tho Li'ssi o lor ilsi'ir, its su<((-88ors iuul assigns, doih 
 In'vchy covt'iiiml, vvilh Ihc Lessor, iis successors :iikI 
 assiti'iis, as l'ollf)\vs. llial is losay; 
 
 1. 
 
 The railroads ami ])roporiios hero])y demised will be 
 used, managed and operalod l)y \ho Lesse«^ in a proper 
 and judiiious manncn-, ai-eording lo the best discretion 
 and judgment of its managers, so as to sc^cure the larg«\st 
 amount, that can bo realized thoretrom, with a due regard 
 to the service to bi^ rendered to the public and to the 
 ]>reservation of said roads and properties in good order 
 and condition lor rendering such service ellicientlv and 
 economically. 
 
 II. 
 
 The L(>ss(>e will assume all trallic balances and debts, 
 due or coming due from the Lessor, all its current liabili- 
 ties, other than those: referred lo in the said Acl of Parlia- 
 ment, passed at its last session, and those mentioned or 
 referred lo in thest^ presents, and will k*^ep and perform 
 the t(n'ms, conditions and covenants contained in the 
 several leases and agn^ements above mentioned on the 
 part of the L«^ssor, its successors or assigns to be kept, 
 pt>rformed and fullillcd, except those relating to the pay- 
 m«'nt either of interest on obligations outstanding at tln^ 
 the date of these presents or of rents, all which the Lessor 
 IS itself to satisfy and discharu'e ; and the Lessee will at all 
 times hereafter assume the cons(>quences of, and defend all 
 actions against the Lt\ssor, arising out of, or iu any way 
 connected with the use and occupation of the demised 
 premises during thi! said term, and will pay from the 
 gross (Earnings and as a part of the operatng expenses, all 
 such sums as it may be liable to pay in respect of such 
 use and occupation. 
 
 I 
 
 I 
 
 i 
 
 ^ 
 
 I 
 
13 
 
 signs, (lojh 
 •<'.s.sor,s and 
 
 if'd will bo 
 11 a pi'0])(>r 
 (liscrotiou 
 the largest 
 du(i I'egard 
 .'Uid to the 
 good order 
 licnlly and 
 
 and debts, 
 rout liabili- 
 il of Pari in - 
 i^iitioiicd or 
 lid porlonn 
 iit'd in the 
 lied on the 
 to be kept, 
 to the pay- 
 Jing" at the 
 
 tlie Lessor 
 ' will at all 
 I defend all 
 a any way 
 e demised 
 ■ from the 
 penses, all 
 ct of such 
 
 HI. 
 
 The i^essee will use and operate the railroads and 
 properties herein demised in accordanrc with the recpiin- 
 nuMits of the respective Acts of ln('()r})oration of the 
 respective Companies and of tln^ respect iv laws of Canada 
 and New Hrunswiidv and I he said State of Maine, so 
 far as the same are applicable th(n*eto, and will pnn'ide 
 all cars, locomotives, engines, rolling-stock and ecjiiip- 
 nicnt of every description, which, may be required, in 
 addition to tht» property hereby demised, for the due 
 operation of the railroads to be operated under and by 
 virtue of this lease, (the Lessee being hereby authorized 
 to dispose of therolling-stoi k, equipments and other per- 
 somil property herein demised as and wIkmi it may deem 
 it advisable so to do,) will rephu^e buildings or structures 
 on the demised premises, taken down or removed, with 
 other buildiniis, structures or permanent improvements, 
 (the Lessee beinu' hereby authorized to take down and 
 remove at its discretion any buihlings hereby demised.) 
 and the Lessee will keep thi' demised [iremises in the 
 same condition of repair, renewal and improvement as 
 that, ill which it shall keep its own property of the like 
 character, and, at the end of the term of this lease or at 
 any earlier termination thereof from any cause whatever, 
 will surrender the said demised real and personal estate, 
 with all improvements, additions or sul)stitutions thereto, 
 in tin' lik(! good order and condition, as that, in which 
 they are at the inception of this lease. 
 
 IV. 
 
 The Lessee will pay yearly and evi'ry year: 
 
 {(i). — The operating- exi>enses of the New Ih'unswick 
 System, which shall include, amongst other things, tho 
 
14 
 
 cost of maiiilainiiii^carli portion thoroorin good ordor an I 
 condition, also ordinary vcpnirs ;ind renewals, all expcndi- 
 tnrcs arisinu' out ol' any hnsiiu'ss or contract obligation, 
 nt'gligonco or niisi('asan(u\ or however otherwise in any 
 way connected with lln^ use and operation tliiu-eol', 
 including dai. -iges to persons or jn-operty, all taxes ol 
 every description, I'ediM'al, provinci;il or municipal, upon 
 the said demised ]iropertii's, or the business or franchises 
 thereof, and also any other expenditure, which is herein 
 declared to be operating expt-nses ; 
 
 (/;). — To the Lessor, on the tenth day of March next 
 after the datc^ of these presents and thereafter half yearly 
 on the tenth day of the months of March and Septi^mber 
 in each and every year including and ending with the 
 month of September next after the period of the said 
 term, an amount, equal to so mucli of eighty-eip'ht four 
 hundred and twentieths of twenty-three one hundredths 
 of the aggregate gross earnings of the Lessor during the 
 half year, ending on the ihirtieth day of June or the 
 thirty-first day of December (as the case may be), next 
 precedinir such day of payment, over the system of 
 railways, described in the third clause of the said 
 Indenture of lease, dated the tweuty-iirst day of May, 
 A. D. 1883, as shall exceed, if it do exceed, two 
 thousand seven hundred and iifty pounds sterling, 
 the amov.nt of this excess (if any) to be paid to the 
 Lessor, at such place in London, I^lngland, as it may from 
 time to time, in writing direct ; but it is to be paid only 
 so long as the St. John and Maine Railway Company or 
 its assigns shall continue to be entitled to receive tlie 
 same by way of rent under the terms of the said lea.^c, 
 and if the obligation of the Lessor to pay the sam(^ 
 be at any time hereafter satisfied or acquired on behalf 
 of the Lessor by meaus of the issue by the Lessor of cou- 
 
 I 
 
15 
 
 I order and 
 
 II cxpciidi- 
 ()])ligalion, 
 vise ill any 
 u thereoi", 
 II taxes ol 
 •ipal, upon 
 
 lVanclii«es 
 li is herein 
 
 dareh next 
 
 lair yearly 
 
 Septinnber 
 
 g' with the 
 
 dI' th(^ said 
 
 ^-eip'ht lour 
 
 liundredths 
 
 during the 
 
 me or the 
 
 y be), next 
 
 system oi' 
 
 I' the said 
 
 ay of May, 
 
 seeed, two 
 
 Is sterling, 
 
 )aid to the 
 
 t may I'roia 
 
 3 paid only 
 
 ompany or 
 
 reeeive the 
 
 said lea.ic, 
 
 the same 
 
 on behalf 
 
 isor of con- 
 
 I 
 
 f 
 
 solidated del)enlare slock to speh an amount as may be 
 neeessary for thai i)urpose, then the Lcssei; will thereafter 
 pay direetly to the respeetivc holders of eonsolidatcd 
 debenture stoek the interest as it shall fall due half yearly 
 on so mueh of such (lonsolidated debenture stoek, as shall 
 have been so issued for that purpose ; 
 
 {(j. To the Lessor, as and when and where they res- 
 peetively fall due, all sueh sums, as may be neeessary from 
 time to time to meet the interest at the rate of three and 
 a half per centum per annum on eighty-two tiiousand 
 pounds sterling of perpetual guaranteed debenture stock, 
 issued by the New Urunswiek and Canada liaiiway 
 Company ; 
 
 (f/). To the Lessor aniuially the sum of three 
 hundred and nineteen thousand three hundred and 
 ninety dollars in half /vnirly payments of one hundred 
 and iifty-nine thousand six hundred and ninety-live 
 dollars each on the iirst day of the months of .lanuary 
 and July in every year; after deducting from each 
 such half-yt'arly instalment whatever sum tlie Lessee 
 shall have paid or shall have become lia])le to i)ay on 
 account of any part of the six months, next preceding the 
 day, on which such half yearly instalment shall matur(>, 
 in respect of consolidated debenture stock, to be issued 
 by the I/cssor, as provided for in the next succeeding 
 paragraph ; 
 
 (c). To every holder of any consolidated debenture 
 stock, which may be hereafter at any time issued by the 
 Lessor upon the written re(iuest of the Lessee and under 
 the provisions of the Act of the Parliament of Canada, 
 53 Victoria chapter 71, or of any subsequent or amoiding 
 Act or Acts, as and when and where they respectively fall 
 
 Rmi-fj 
 
16 
 
 due, ull such surif> us may Ix' ut'tcssary liuin tiinr l<» lime 
 toiiKM'i till' intcrt'sl ihfivoii aciMudiiig' lo I lie rale at and tlic 
 terms, on \vhi<ii il shall have hiM'ii issued, aiul will execute 
 on earh ccrtiliciste, which shall he issued in respect oluny 
 sucli stock, or in such other maimer as may ))e requisite, a, 
 valid and suliicii'Ut uiuhn'takiiiii' and guaranty to that 
 oH'ect ; 
 
 (/). Il'at the re(|uestol'the iicssee (Consolidated debenture 
 stock shall be at any time or times issued by the Lessor 
 in respect oi" iloatin<«' obligations under parauraph {ri) ol' 
 Clause 111. ol" the said Act, <'xce('(lin<.>; in the aggregate 
 four hundred thousand dollars, then the Lessee will 
 pay as rent, in addition to the amounts, covered by the 
 two next preceding ]iaragraphs, taken together, a I'urther 
 sum, c(]ual to lour [)er centum per annum on the 
 excess whatever it )iiay be IVom time to time beyond the 
 said sum ol' ibur hundred t housand dollars, such additional 
 renl. to be i).iid to the several holders ol" debenture stock 
 in the same manner, as is heretol'ore provi(h'd I'or in 
 respect oi' other portions ol" such consolidated debenture 
 stock. 
 
 V. 
 
 This lease is upon the ciondition that, ii' the Lessee 
 shall at any time Tail to pay the said sums ol' money 
 reserved by way ol" rent as albresaid, or any sum meii- 
 tioned and provided Tor by (Clause IV. ol' this lease, 
 and such default shall continue lor the space of ninety 
 days, then and in every such case the Lessor may enter 
 upon the demised premises or upon any part tlior '>f as 
 for the whole and expel the Lessee therefrom, and deter- 
 mine the estate hereby granted, and shall thereupon 
 become seised and possessed ol' the demised premises 
 and. ol' every part thereof in its original right and as 11' 
 
 J 
 
 I 
 
 ??; 
 
Hit' l(» (iirio 
 
 ill <'Xt'tii((' 
 "'<l ol' any 
 •Hjuisilc, a 
 ly to iliai 
 
 (It'lx'iilurc 
 
 the Lessor 
 
 iph (f/) ()]' 
 
 ag-gr('g;itc 
 
 lOssoo will 
 
 led by tht! 
 
 , .'I lurtlicr 
 
 m on th(^ 
 
 >'yon(l llu' 
 
 iiddilioiKil 
 
 I lure stock 
 
 idcd I'or ill 
 
 debt' 11 lure 
 
 the [jcssco 
 of money 
 sum meii- 
 Llii.s lease, 
 of ninety 
 nay enter 
 tlior '>fas 
 and deter- 
 thereupon 
 premises 
 and as ii' 
 
 i 
 
 I 
 
 It 
 
 this least! had u«!ver been made, j>rovided, however, thai 
 such entry by the Lessor shall in no wise prejudice or 
 impair iiny remedies to which it mii«ht otherwise Ix^ en- 
 titlcvl lor arrears of rent or precedinu' breachtss of covenants 
 or conditions. 
 
 The Lessor for itself, its successors and assij^ns, (cove- 
 nants with the Lessee, its sU(.'cessors aud assigns, as fol- 
 lows, that is to say ; 
 
 VI. 
 
 The Lessor will not at any time issue any portion of 
 the consolidated debenture stock, so authorized by the 
 said Act as aforesaid, or which may be authorized by any 
 subsequent or amending" Act or Acts, except upon and after 
 the written request of the Lessee ; but, upon every sui;h 
 request bein<^ made in respect of any portion or portions of 
 such d(>henture stock, the Lessor will without unnecessary 
 delay caiise to be issued the portion or portions covered by 
 such request, and will cause the same o'- the proceeds 
 thereof to be made available for the purposes, for which it 
 shall be issued, to the end that the Lessee may get the 
 benelit thereof within the true meaning of the under- 
 standing embodied in these presents. 
 
 VIL 
 
 There shall be expended on improvements of the pro- 
 perties, hereby demised, without unnecessary delay, and 
 under the supervision and direction of the Lessee, so 
 much of the net proceeds of all the consolidated deben- 
 ture stock, which shall be issued by the Lessor under the 
 provisions of the said Act of Parliament, or of any subse- 
 quent or amending Act or Acts, as shall not be actually 
 
 2 
 
18 
 
 and proporly jipplicd uiidor such provisioiiis in the NJiiiNfao- 
 tion or ii(«[uisili()n of I he Kiiid pn'scnl (Mil.slaudiii'4' <»l)linii- 
 lioiiK ol' tlio LesNor, or somi? porliim tlu'rcol": tud iit the 
 option ol" Iho Lt'Hisoc I hi' lunount of tin; p'*'" Is, so to bo 
 t.'XpDiidi'd on improvcnionts, shall, iron. .-. to time, ou 
 llic r('qu«*st ol' tho Lessee, bo lianded over to tlie Lessee 
 lor the purpose ol' hein^' f^o expended. 
 
 VITI. 
 
 The Lessor will, on or immediately alter the eommenee- 
 ment of the said term and at its own eosis and eharges 
 in all respects, pro(;ur«' the following' obligations of the 
 Lessor to be satislied or acquired by the application of the 
 proceeds of consolidated debenture stock, to be issued 
 (under the provisions of the said Act) to an amount, not 
 exceeding the par value of su(.'h outstanding obligations, 
 as below stated, that is to say : 
 
 Floating oljli<,'ation,s, referred to in paragrapii ('/) ol' Section 3 of tlio 
 said Act, four hundred thousand dollara $-100,000 
 
 New Brunnwick Railway second mortgage bonds, two hundred thou- 
 sand pounds sterling X200,000 
 
 New I?runswick Railway Car Trust on rolling stock, two hundred 
 and fifteen thousand dollars §215,000 
 
 SO that the future annual charge in respect of those obli- 
 gations shall be forthwith reduced to sixty-throe thou- 
 sand live hundred and thirty-four dollars, or its equiva- 
 lent in sterling money. 
 
 IX. 
 
 All leases and contracts of the Lessor for the operation 
 of other railroads, terminating during the term of this 
 lease, if any, shall at th« request of tho Lessee be renewed 
 
 .!*ft..:,^>».««j»B iB atf. Mtf >vi^aiJwi gr *^ ' ' ' 
 
 ■Hii(ijl1lJi4liil|MlEim;^' ' 
 
10 
 
 lie .S!ltiNf;iV- 
 
 .11(1 ;il tlu' 
 
 !n, ho lo l)t' 
 
 o iirrii', oil 
 hi' Lt-'Kyuu 
 
 omniL'iicc- 
 (l chiirgt's 
 oils ol' the 
 tion oltho 
 bo issued 
 lount, iiol 
 )ligatious, 
 
 Jon 3 of tlie 
 • . ■ . $-100,000 
 
 lulred tliou- 
 . . . . £200,000 
 
 iVo 1 111 11(1 rod 
 . . . . $215,000 
 
 hose obli- 
 roe thou- 
 s equiva- 
 
 )peratioii 
 fi of this 
 renewed 
 
 4 
 
 by the Lessor upon tlio most rnvoiirablf terms iiracticabU', 
 ;md, b<'ini>' so reiievvt'd, Ihe pidperty allt'tled thereby, as 
 well as the said leases and coiitrai^ts, shall be siibjcel to 
 all the provisions of (his least' as edl-ctually as it now 
 existinn' nnd ht'irin inrhided, ;ind at the request of the 
 Lessee shall be validly Jissii^iifd to the Lesse*' ; and in 
 ease the Lessor make and conelude with the consent o| 
 the Lessee any new and siitist'aelory arrangement with 
 the Fn'dericton Uailroad C'ouipaiiy to work and operate 
 the line ol' railway from the City of I'redcrieton to the 
 Frederieton .lunetion, then nnd in such ease sueh 
 arrangement shall enure to llie benelit of the Li'ssee and 
 sueh railroad shall be included in the demise herein ron- 
 tained and shall become subject to the terms and condi- 
 tions of this lease in the same manner and to the same 
 extent, as if it had been originally included and named 
 herein, the Lessee, its sueccssors and assigns assuming 
 the obligations so entered into with the said Kredericton 
 Company by the Lessor with the cons«»nt of the Lessee as 
 aforesaid ; and thereafter the proportion of earnings, to be 
 paid under paragraph {h} of Clause IV. of these pn'seuts. 
 shall be modified according loan agreement, made lietwe n 
 the St. John and Maine Tvailway Company of the one 
 part and the Lessor of the other part, and dated the 27th 
 day of December, 1883. 
 
 In t\ase it is found necessary and in the interest of the 
 Lessee, that the Lessor shall construct lease or purchase 
 lines of or interests in railroads, not demised by this present 
 lease, or any railroad bridges, «>ither in the provinces of 
 New Brunswick or Quebec, or the said State of Maine, sueh 
 construction, leasing or pui base will be authorized by the 
 Lessor at the request of the Lessee, and shall be made, 
 
 Mmmt ntiBiiiiiifi 
 
20 
 
 oiitorod into and «'()mpl<'t<»(l at th«* oxponso of iho L«»nn»m* ; 
 bill, IK) inoiicy orolln-r compciisiition by way of nMilal 
 sball 1)1' payubic by tb»' Less*'*' lo tli«' LcHsor in rcspcrl of 
 siicb lin<'N of ruilroiids or bri<lu(\s, so to be constrnctiMl, 
 b'ast'd or a((piir('d as alorcsaid. 
 
 I 
 
 t 
 
 XT. 
 
 Tho Lofisor will from timo lo tiino and al all tinios 
 bciviiri.'r on Ihc wrilliMi rtuiucst of Ihc L»«ss(m» and without 
 prico translcr and sot ov«'r by a valid (ionvoy;i lu^o to th»» 
 L(»ssoo, its successors and assig'iis or its or their nominees, 
 the shares in the capital slock or the bonds or other 
 securities (if any) of, or Iho contracts entered into with, 
 any of the (companies, from which the Lessor has directly 
 or indirectly acquired any of the properties demisted by 
 these presents, which it may, either in its own name or 
 by or through any trustee or trustiu^s or otln'rwise how- 
 soever, then hold or ]>e entitled to, to the end, that the 
 Lessee may from tim«^ to time and at all times hereafter 
 have an interest in and a control ovtn* eac^h of the said 
 properties and of the transactions of the Company own- 
 ing it as full and complete as the Lessor now has or is 
 entithid to have. 
 
 xn. 
 
 To prevent uncertainty as to the persoiial property, 
 herein demised and so to be accounted for as aforesaid 
 at the termination of this L'ase, there shall be made by 
 the Lessor a full, complete and particular inventory, des- 
 cription and appraisal of all such property as at the 
 commencement of the said term, such inventory to be 
 made in duplicate, and an original furnished and sig'ied 
 by an official of each of the parties thereto. 
 
 
 *u 
 
 'J. ".nil .inu i . ii t i — i - I'.i -I. mi,ftw. i im. ■ --nu-in..inj i wt.» r 
 
 i"iiBl l .n i ! i ..u«iiiy- 
 
<»f n'liliil 
 
 r<'.s|M'<( of 
 
 iiNtnii t('«|. 
 
 .'ill liinos 
 I wilhouj 
 • <■(' lo lh<' 
 ii<>inin(>,is, 
 or otluT 
 nU) wilh, 
 •^ (lirccily 
 
 namo or 
 iso how- 
 ill ill Iho 
 hcri'aricr 
 ' tho said 
 11 y own- 
 has or is 
 
 property, 
 if'orosaid 
 made })y 
 ory, des- 
 !> at the 
 ry to be 
 1 sio'ii«(i 
 
 21 
 
 Mil. 
 
 Tht' Iwt's.sor will m:iiiiliiin its exisleijcc and or<iaiii/:i- 
 iioii as a corporation duriiti>- the s.iid t«>rin, nud to that 
 end will comply with all th«' reciuisitcs and forms of 
 liuv ; will do all a<'l8 niid thinus iind cxceiilc all Icijal 
 iiiHtrumcnls nc<'cHsary ami proper to put and seciin' the 
 Ij«»sHee in the lull enjoyment ol'all the properties, rij»;hts, 
 IVaiichises and interests herein demised, and so as to 
 carry into ell'ecit the true interest and mean in t;' ol' this 
 lease ; and will permit the Lessee to use the name of 
 the Lessor (aiwl it here))y iirants the use of such name 
 irrevocably,) in all leufal jiroceedint^s jind in all «ases 
 needful for obtaining, holdini^ and enjoying* the premises 
 h«*re})y <lemiscd and every part thereof, and for all 
 purposes consistent with the tru«' scope and intent of this 
 lease, and, on the demand of I he Lessee, the proper ollicials 
 of the Lessor will alUx to any document. ])res(»nled for that 
 purpose, the corporate seal of the Lessor and the siixnature 
 of such of its ollicials as may be pr(»per and necessary, 
 and the said ollicials are her(>by imnocably empowered 
 so to do, upon the condition, however, that the l^essee 
 shall in every case hold harmless and keep indemnilied 
 th(^ Lessor from the consequences thereof. 
 
 XIV. 
 
 The Lessor will cause to be assiii'iied and transferred, 
 wheu thereto requested and as directed, to the Lessee or 
 its nominees the stu'cral mortgages and deeds of trust 
 held by the said Trustees for the Lessor on the 
 St. Stephens branch and the Woodstock branch of the 
 New Brunswick and Canada Kailroad Company, or auy 
 of them, and also all or any of the leases of land, held by 
 it, situate in the City of St. John or in the towns of 
 St. Sti'phen, Woodstock and St. Andrews or any of them. 
 
22 
 
 XV. 
 
 During the coiitiiivianco of this loaso tho Lessor will 
 well and truly pay or cause to be paid all rentals, inter- 
 est and sums ol money, due and payable by virtue of 
 the said several herein mentioned Indentures of lease, 
 aecordinii' to the resi)('ctive terms and conditions thereof, 
 except the sums to be paid by the Lessee under para- 
 graph {(i) of Clause IV. of this lease, and also will 
 perform and keep all th(^ covenants and conditions in the 
 said Indentures contained and on the part and behalf of 
 the Lessor, its successors or assigns, to ])e kept, performed 
 and fulfilled, and also will not do or cause to be done iinj 
 act, matter or thing' to impair the validity of the said In- 
 dentures, or w^hereby the said sev(»ral demises, any or 
 eith(>r of them, may be determined and cease. 
 
 XVI. 
 
 The Lessee, its successors and assigns, duly paying 
 the rent reserved by these presents and performing tht* 
 covenants herein contained on its and their part to })e 
 performed, shall and may peaceably possess and enjoy at 
 all times during the said term the railroads and othtn* 
 properties and tolls, revenues, franchises and privileges, 
 hereinbefore demised, without any lawful interruption or 
 disturbance from or by the Lessor or its successors or any 
 other party or parties whomsoever. 
 
 XVII. 
 
 The Lessee shall have and is hereby given the right at 
 its option to acquire and purchase all the said timber 
 lands and other lands, so mortgaged as aforesaid to the 
 Central Trust Company of New York, and containing in 
 round numbers about one million six hundred and fifty 
 
23 
 
 or will 
 s, iiitor- 
 rtue of 
 i' Ic'iso, 
 horcof, 
 r pai'a- 
 o will 
 ill the 
 half of 
 formed 
 puo any 
 aid Tu- 
 auy or 
 
 paying 
 ug" the 
 to ho 
 ijoy at 
 I othor 
 ileges, 
 tiou or 
 3r any 
 
 ^'ht at 
 imbor 
 to the 
 ug in 
 I fifty 
 
 thousand acres, except Ihose, 11' any, whi»'h are hereinbe- 
 fore demised, and those, if any, which have been hereto- 
 fore sold and «;onveyed by deed from the Lessor, at and 
 for the sum of nine hundred and twenty-sevi^i thousand 
 six hundred dollars ($02Y,()00) and interest, to be paid as 
 hereinafter mentioned, provided such option be exercised 
 within two years from the lirst day of July, A.D. 1800, 
 and upon payment of the said purchase money within 
 the time aforesaid, or otherwise as may be mutually 
 agreed upon, the Lessor shall execute and acknowledge 
 all such di^eds, conveyances and assurances as may be 
 deemed requisite, in order to vest the title in fee simple 
 of all the said timber lands and other lands in the Les- 
 see, except in so far as that may ])e prevented by the exist- 
 ence of the mortgages thereon to the said Central Trust 
 Company hereinbefore mentioned, and su})ject, however, 
 to any licenses, granted by the Lessor, to cut logs, bark or 
 other timber upon the said lands or any part thereof, 
 then existing, and also any contracts of sale of any of the 
 said lands, heretofore made by the Lessor and then in 
 force, the Lessee, however, to have the benefit and ad- 
 vantage of, and all the interest of the Lessor in, the said 
 licenses and contracts, and also subject to the proviso, 
 that the Lessor, anything herein contained to the con- 
 trary notwithstanding, may, during the said period of 
 two years, grant lii-enses to cut timber, logs, bark or other 
 lumber off the said lands as heretofore accustomed. And 
 inasmuch as the said lands are encumbered as aforesaid 
 by the two Indt^ntures of mortgage made by the Lessor, 
 herein already mentioned, and, inasmuch as the inten- 
 tion of the understanding embodied in these presents 
 is, that amongst other obligations those of thi; Lessor to 
 the said Central Trust Company, created by the 
 two mortgages aforesaid shall, eventually be satisfied or 
 acquired by the issue by the Lessor, under the authority 
 
24 
 
 of the said Act of Parliaraoiit, of «'oiiKoli(lated debtMiture 
 stock, the inler.^st on which will be saiisfied at all times 
 out of the rentals to be paid as aforesaid by the Lessee, 
 and inasmuch as, when those obli«;ations shall be so dis- 
 charged, the said lands will be freed from any incum- 
 brance created, by the said two mortgages or either 
 of them, therefore it is hereby agreed that the 
 conveyance to the Lessee, if any, may be of the equity of 
 redemption only in such lands and subject to the incum- 
 brances created by the said two mortgages, and such 
 conveyance shall be sullicient undtT the meaning of this 
 clause. 
 
 la 
 o 
 ti 
 a 
 
 6i 
 i 
 
 S 
 
 a 
 
 The said purchase money, if paid, is to be paid with 
 interest at the rate of live per cent, per annum from the 
 first day of July, 1890, the aggregate of the principal and 
 interest to be reduced by such net sums, as shall be in 
 the meantime received or receivable by or for account ol" 
 the Lessor, either from or by way of stumpage, license 
 dues or other rents, issues and profits, growing out of 
 and derived from the said lands or any part thereof after 
 the said first day of July, 1800, by virtue of any contract 
 in respect thereof, whether made before or on or after that 
 date, and further to be reduced by such other sum or 
 sums, if any, as shall be received as purchase money by 
 or for account of any sales of the said lands, wlii(;h shall 
 be made on or after the said iirst day of July, 1800. 
 
 
 XVIII. 
 
 It is hereby expressly covenanted and agreed between 
 the parties hereto that, if any of the timber lands or other 
 lands (other than the lands hereby demised), so encumber- 
 ed as aforesaid by two mortgages from the Lessor to the 
 said Central Trust Company, such timber lands or other 
 
26 
 
 Iture 
 [mi3s 
 issee, 
 
 dis- 
 mm- 
 Ither 
 
 the 
 
 fyoi' 
 
 mm- 
 mch 
 this 
 
 I 
 
 lands not havin«^ been purchased by theLossne undorthe 
 option given by the last clause), should hereafter at any 
 time or times be taken or sold or otherwise made avail- 
 able for the satisfaction of any of the principal or interest, 
 secured by the said two mortgages or either of them, 
 then and in every such case consolidated debenture 
 stock to an amount or amounts equal to the amount or 
 amounts, which shall be so satisfied, may be issued under 
 the said Act of Parliament (53rd Victoria), bearing interest 
 at the rate of four per centum per annum, and the 
 proceeds thereof shall be taken by the Lessor and its 
 assigns as and for its own and their own uses instead of 
 being applied towards the improvement of the properties 
 hereby demised as above mentioned, the interest thereon 
 to bo nevertheless paid as aforesaid by tht^ Lessee by way 
 of rent in the same manner and to the same extent, as if the 
 proceeds were to be applied towards such improvement, 
 provided, however, that the Lessee shall in every such case 
 have the option of paying in cash either in whole or in 
 part the amount or amounts, which shall b^ so satisfied 
 as aforesaid by any of the said timber lauds or other lands, 
 or the proceeds thereof, and, if any amount or amounts be 
 so paid in cash by the Lessee under such option, then con- 
 solidated debenture stock shall be issued for the same 
 amount or amounts, and the proceeds of it shall be ap- 
 plied towards the improvement of the demised properties 
 as provided for in Clause VII. of these presents, instead 
 of being taken by the Lessor and its assigns as above 
 mentioned ; but nothing herein contained shall be held 
 to affect or abridge the right of the Lessor to issue addi- 
 tional consolidated debenture stock, in respect of so much 
 of the obligations, created by th'^ "xid two mortgages or 
 either of them, as shall be so satisfied to the extent to 
 which it may be authorized under the provisions of the 
 said Act of Parliament (o3rd Victoria), or any subsequent 
 or amending Act or Acts. 
 
•■•»- - TTP>| i ■ 
 
 26 
 
 XIX. 
 
 And it is hereby mutually agreed between the parties 
 hereto, that they shall join in procuring the requisite 
 legislation, if any be needed, to ratify and confirm this 
 Indenture of Lease and all the terms hereol' and to enable 
 each of the parties hereto to do whatever may be neces- 
 sary to give effect to the substance and intention of these 
 presents, and the parties hereto hereby agree to share 
 equally the expense of procuring such legislation. 
 
 IN WITNESS WHEREOF, each of the said parties 
 hath caused to be set hereto its corporate seal and the 
 signatures of its President and its Secretary. 
 
 THE NEW BRUNSWICK RAILWAY 
 COMPANY. 
 
 Robert Meighen, 
 
 President. 
 
 Alfred Seely, 
 
 Secretary. 
 
 THE CANADIAN PACIFIC RAILWAY 
 COMPANY. 
 
 W. C. YanHorne, 
 
 President. 
 
 C. Drinkwater. 
 
 Secretary. 
 
 i 
 
rties 
 isito 
 this 
 able 
 
 bcHe 
 liare 
 
 rties 
 the 
 
 ay 
 
 21 
 
 THE SrilEinTLV'] REFERRED TO IN THE ANNEXED INDENTURE 
 
 HIIOWINQ THB DKMIHKI) LINES OK RAILWAY. 
 
 (I 
 
 Distin- 
 guishing 
 Letter. 
 
 dent. 
 
 tary. 
 AY 
 
 A. 
 B. 
 C. 
 
 D. 
 E. 
 
 F. 
 
 G. 
 
 Location, &c. 
 
 L 
 J. 
 
 K. 
 
 dent, 
 tary. 
 
 M. 
 
 From GibHon on East biinkof Rivor St. Jolin opposite Fred- 
 ericton nortlierly to Newburg, about h" miles. 
 
 From Newburg sontliwosterly (oros.sing River St. .lohn) to 
 Woodstock, about (> milee. 
 
 From Newburg along the P>aflt 'oank of River St. .lohn to 
 Perth, thence acroH.s the river to Aiidover, thence to 
 Grand Falls, thence (crossing the river again to the 
 East bank) to Kdmundaton, about lOfi^ miles. 
 
 From Aroostock westerly to a point on the bounda;y line 
 between New lirnnswick and the State of Maine, about 
 4 miles. 
 
 From St. Andrew's in New Brunswick to a point on the 
 boundary line between New Brunswick and Maine near 
 the town of Houlton, about 88 miles. 
 
 From St. Stephen to Watt Junction on the said line between 
 St. Andrew's and the point near Houlton, about 10 miles. 
 
 (Vanceboro Branch.) From McAdam Junction, a point on 
 the said line from St. Andrew's to the point near 
 Houlton, westerly to a point on the international boun- 
 dary near Vanceboro, about 7 miles. 
 
 From the said point on the said boundary line near Houlton 
 to Houlton in tho State of Maine, about 3 miles. 
 
 From Debec Junction to Woodstock aforesaid, about U miles 
 
 From the Maine Central Station at Vanceboro' to the 
 international boundary and there coiuiecting with the 
 so-called Vanceboro' branch from the boundary to 
 McAdam Junction (known as the "it. Croix Road). 
 
 From the Western bank of the River St. John at the 
 Cantilever Bridge at the Falls near the City of St. John, 
 in New Brunswick, to tlie River St. Croix at the boun- 
 dary line between New Brunswick and the State of 
 Maine, about 88 miles. 
 
 From the Western terminus of the line above mentioned as 
 running from Aroostook to a point on the boundary 
 line between New Brunswick and the State of iNIaine, 
 thence through Fort Fairfield to Cariboo in the State of 
 Maine, about 16 miles. 
 
 From Cariboo to Presque Isle, in the State of Maine, about 
 14 miles.