ARTICLES, &c. mi* W&m lli^P^ &$&<& the said covenantor, his heirs, executors, ad ministrators and assigns, will well and truly perform, fulfil and keep, so far as in them lies, all and singular the pro visions hereinbefore arid in the said trust deed contained ; and that he arid they will do all and every act and thing that may be necessary, and that may be lawfully done, to give full effect to the object and intent of this Association, and of the aforesaid trust deed. In Witness whereof, the original parties to these presents have hereunto inter changeably set their hands and seals, this thirtieth day of April, eighteen hundred and thirty-six ; and the other par ties to these presents becoming members of this Associa- 29 tion by the transfer of shares therein, have severally set their hands and seals thereto, at the times affixed to their respective name& Sealed and delivered ih presence of T. BARLOW; JOSEPH L. JOSEPH, (L. S.) HENRY DUDLEY, (L S.) JAMES L. CURTIS, (L. S.) JAMES B. MURRAY, (L. S.) GEORGE A. WARD, (L. S.J DEED OF TRUST. This Indenture, made the thirtieth day of April, in the year of our Lord one thousand eight hundred and thirty-six, between Joseph L. Joseph, of the city of New York, bro ker, and Ftances his wife ; Henry Dudley, of the same place, merchant, and Helen C. his wife ; James L. Curtis, of the same place, gentleman, and Clarissa E> his wife ; James B. Murray, of the same place, merchant, and Maria his wife ; and George A. Ward, of the same place, gentleman, and Mehitable his wife, of the first part : Louis M'Lane, Frederick Branson, and Edward A. Ni- coll, of the said city of New York, of the second part ; and Thomas E. Davis, of the same place, of the third part. Whereas the said Thomas E. Davis and Ann his wife, by Indenture bearing date the twenty-ninth day of April, in stant, did convey unto the above named Joseph L. Joseph, Henry Dudley, James L. Curtis, James B. Murray and George A. Ward, and to their heirs and assigns, for the con sideration of six hundred thousand dollars, all that certain piece or parcel of land situate in the town of Castleton, in the county of Richmond, and state of New York, bounded as follows, — (for description see pages 4 to 13) — as by the said deed or indenture, or the record thereof in the office of the clerk of the said county of Richmond, may more fully and at large appear. And whereas the said Joseph L. Joseph,' Henry Dudley, James L. Curtis, James B. Murray, and George A. Ward, parties of the first part, in order to secure the payment of a portion of the said consideration money, have executed to the said Thomas E. Davis their several bonds, bearing 31 even date with the said deed, conditioned for the pay ment of divers sums of money, with interest, said sums be ing the amount of their respective shares or portions in the said purchase, and amounting in the whole to the sum of four hundred and forty thousand dollars : And the said parties of the first part have also, as a further security for the payment of the said consideration money, with interest, by Indenture, bearing even date with the said bonds, mort gaged in fee to the said Thomas E. Davis the said lands so conveyed by him as aforesaid, said mortgage being conditioned for the payment of the said sum of four hun dred and forty thousand dollars with interest thereon, at the rate of seven per cent, per annum, payable semi-annually, as by the said bonds respectively, and the said mortgage, or the record of the said mortgage in the office of the clerk of the said county of Richmond, may, reference being there unto had, more fully appear : And whereas the said parties of the first part have form ed themselves into an Association, called the "New Brigh ton Association," for the purpose of managing, improving and disposing of the said premises, so purchased by them from the said Thomas E. Davis, as aforesaid : And whereas the nature and object of the said associa tion, and the respective interests of the said parties of the first part in the said purchase, will fully appear by refer ence to the articles of association, bearing date the thir tieth day of April, one thousand eight hundred and thirty-six, which articles are to be deemed as part of, and for all le gal and practical purposes considered and construed with, this Indenture : And whereas the said parties of the first part are desirous of being able to sell and dispose of such parts and propor tions of the premises as may command adequate prices, freed from the lien and incumbrance of the said mortgage so 32 given by them to the said Thomas E. Davis as aforesaid, upon terms and in a manner equally safe and convenient, as well to themselves as to the said Thomas E. Davis, and do also deem it important and desirable that the benefi cial interests of the said several parties in the proceeds of the said lands, when the same shall be sold as hereinafter mentioned, be so settled and arranged as that the same maybe represented and evidenced by certificates of stock, and may be transferable from time to time by the assign ment of such certificates, and for that purpose have enter ed into the articles of association herein before mentioned and refered to : And whereas the said Thomas E» Davis is disposed to facilitate the prosecution of the aforesaid objects, so far as the same can be done consistently with his own security, and it has therefore been agreed by and between the said parties of the first part and the said Thomas E. Davis, that the said lands and premises so conveyed by him as aforesaid should be conveyed by the said parties of the first part to the above named Louis M'Lane, Frederick Bronson, and Edward A- Nicoll, the said parties of the second part to these presents, in trust for the uses and purposes hereinafter mentioned ; Now therefore this Indenture icit- nesseth, that the said parties of the first part, in considera tion of the premises, and for the purpose of carrying into effect the agreement and understanding before mentioned, and in further consideration of one dollar, lawful money of the United States, to them in hand paid by the said Louis M'Lane, Frederick Bronson, and Edward A. Nicoll, the parties of the second part hereto, the receipt whereof is hereby acknowledged, and the said parties of the second part therefrom for ever acquitted and discharg ed, have granted, bargained and sold, aliened, remised, released, conveyed and confirmed, and by these presents 33 Do grant, bargain and sell, alien, remise, release, convey and confirm unto the said parties of the second part, and to the survivors and survivor of them, and to the heirs and assigns of such survivor, all and singular the lands and premises hereinbefore mentioned and described, be ing the same lands conveyed to the said parties of the first part, by the said Thomas E. Davis and Ann his wife, as aforesaid ; together with all and singular the rights, mem bers, privileges and appurtenances thereunto belonging or in anywise appertaining ; and also, alj the estate, right, title, interest, dower and right of dower, claim and demand what soever of them, the said parties of the first part, of, in and to the same, to have and to hold all and singular the said several pieces or parcels of land, with the appurtenances, unto the said parties of the second part, their heirs and assigns, to their own proper use, benefit and behoof for ever, upon trust, nevertheless, that they, the said parties of the se cond part, or any two of them, and the survivors and sui> vivor of them, and any persons and person who may be in-> troduced into the trust, by virtue of any clause or provision hereinafter inserted and contained, or any two of them, shall and do, at such time and tirqes, and in such manner, either at public or private sale, in such part or portions, and for such prices (not less, however, than the prices mentioned in a certain schedule or list of the said lands hereunto annexed) as to the said parties of the se cond part, or any two of them, and to the survivors or sur vivor of them, may seem most expedient, sell and dispose of the said lands ; and upon such sales shall and do exe cute good and sufficient deeds of conveyance, in fee sim-: pie, to the purchaser or purchasers thereof, and out of the proceeds of such sales, as there shall be received by them from time to time, shall and do pay the said Thomas E. E 34 Davis, his executors, administrators or assigns, the prin cipal and interest of the said sum of four hundred and forty thousand dollars, until the whole of the said sum, with the interest thereof, as reserved by the conditions of the said several bonds, and of the said mortgage, shall be fully sa- tisfiechjjajdand dischargedTrehdering the overplus of any moneys, and tranferring all securities, that may remain af ter satisfying the purposes of theisaicf trust, to the Directors for the time being of the said New Brighton Association. And it is hereby mutually agreed by and between the par ties hereto, and the said Thomas E. Davis, for himself, his heirs, executors and administrators, doth covenant and agree to and with the said parties of the first and second part, that he or they shall and will, upon any sale or sales of any part or parts of the said lands and premises being made by the said parties of the second part, on their request in writing, find at their cost and charges, release the said parts or portions of the said lands, which may be sold and conveyed as aforesaid, from the lien and encum brance of the mortgage so executed to him as above men tioned, provided at least twenty-five per cent, of the purchase money for which said parts or portions may be sold by the said parties of the second part, be paid to the said Thomas E. Davis, his heirs or assigns, in cash, at the time of exe cuting such release. And it is further agreed between the said parties hereto, that it may be lawful for the parties of the second part, upon sales of any part of the said lands to be made by them as aforesaid, to receive as a security for aportion of the consideration money, not exceeding, how ever, seventy-five per cent, thereof, the bonds of the said purchaser or purchasers, secured by his or their mortgage on the said peices or parcels of land purchased by them re spectively, and payable at a period not exceeding two years 35 from the date of said sale : it being, however, expressly unr der stood and agreed, that the said bonds and mortgages are to be held by the said parties of the second part, the survivors or survivor of them, and to be collected by them as the same shall become due and payable, and out of the proceeds of such sales, whether the same be made wholly for cash or partly on credit, as above provided, the said parties of the second part shall, from time to time, and as fast as the said proceeds shall be received, pay to the said Thomas E. Davis, his executors, administrators and as signs, the principal and interest of the said sum of four hundred and forty thousand dollars, until the whole of the) said sum, with the interest thereof, as reserved by the con ditions of the said several bonds, and of the said mortgage given to the said Thomas E. Davis by the parties of the first part, shall be fully satisfied, paid and discharged, ren dering the overplus of any moneys, and transferring all se curities that may remain after satisfying the purpose of the trustjiereinbefore expressed, and the costs, charges and expenses that may accrue in the execution thereof to the Directors for the time being of the said New Brighton Association. And it is hereby declared and agreed, by and between the parties to these presents, that all such parts of the said lands and premises so as aforesaid conveyed by the said Thomas E. Davis and Ann his wife, to the said parties of the first part, as shall remain unsold at the time of the ter mination of the trust estate above granted and declared, that is to say, when full payment of the principal and in terest due to the said Thomas E. Davis shall have been made as above provided, shall enure and belong to the several persons who shall at the time of the termination of the trust estate be shareholders in the said New Brighton 36 Association, in the shares and proportions evidenced and dc- termined by the certificates jjCjh^^aid^stock heJd.hyjhem respectively... And it is hereby jJeclarjed.and agreed, and these presents are made on this gxpress condition, that the estate, title and interest of the said stockholders shall be and shall continue to be subject to the execution of the trust power following ; that is to say; the said parties of the first part, for themselves, jointly and severally, and for their re spective heirs, executors, administrators and assigns, do hereby give and grant to the said parties of the second part, and to the survivors and survivor of them, full power and authority, and do hereby authorize, empower and di rect them, the said parties of the second part, or any two of them, and the survivors and survivor of them, to sell and convey all and singular the said remaining lands, and every part thereof, at public or private sale, at such time or times, to such person or persons, for such prices and on such terms of payment as to them or any two of them, and the survivors or survivor of them, may seem best ; and upon such sales to execute to the purchaser or purchasers thereof, under and by virtue of the trust power hereby created, good and sufficient conveyances in the law, in fee simple, there for ; and oh such sales to receive the purchase moneys agreed to be paid therefor, and to be paid therefor, and to pay the sajne over when collected, and any securities that may have been taken therefor to the Directors of the said Association for the time being, for the Use of the said share holders, according to their interest in the said shares and the capital of the said Association, according to the terms of the articles of agreement aforesaid. And it is hereby further expressly agreed and declared, that the trust and the trust powers hereby created, shall continue and be in force (if not sooner executed) for the term of five years from 37 the date hereof, provided that the said Frederick Bronsoji and Edward A. Nicoll, or the survivor of them, shall so long live. And it is hereby expressly agreed and declared, by and between the parties hereto, that the receipt of the Directors for the time being of the said Association for any sums of money that may be paid to them by the said trustees, or any or either of them, whether under and by virtue of the said trust power or in execution of any of the trusts by these presents created or declared, shall fully exonerate and discharge the said trustee and trustees, and each and every of them, from all liability or duty to see to the appli cation thereof. And it is further agreed, by and between all the parties hereto, that in case any one or all the parties of the second part to these presents shall die, or be desir ous of relinquishing the trusts declared in this indenture, whether under the trust estate or the trust power, before the final execution thereof, it shall and may be lawful for the shareholders for the time being of the said New Brigh ton Association, to appoint a new trustee or trustees, as may be necessary, in the manner provided in the said Ar ticles of Association — such appointment, however, if made before the termination of the trust hereinbefore granted, to be subject to the ratification and consent of the said Thomas E. Davis, if he shall then be living ; and from the time such new trustee or trustees shall be appointed by the said shareholders and the appointment ratified by the said Thomas E. Davis, (if such ratification be necessary,) all the powers and duties hereinbefore granted and declared, shall be vested in and shall devolve upon the remaining trustee, and such new trustee or trustees, as the case may be, in the same manner and with the like effect as if the said new trustee or trustees had been named in and by these presents ; and the trustee relinquishing his trust as aforesaid, shall 38 execute such conveyance or other instrument expressive of his relinquishment and transfer, as the said parties to these presents shall be advised is expedient or proper in the premises. And it is further agreed, by and between the said parties to these presents, and the said parties of the first part, for themselves, their heirs, executors and admin istrators, do hereby grant, covenant and agree, to and with the said parties of the second part, and the survivors and survivor of them, and to and with the assigns of the said parties of the second part, and of any two of them, and of the survivors and survivor of them, that each and every con veyance of any part or portion of the premises herein above described, duly made and executed by any two of the per sons who may at the time of the execution of such convey ance be trustees of the said premises, whether the same shall be original trustees, or any othef person or persons substituted in their place, or the place of any of them, by virtue of the provision hereinafter contained, and whether such Conveyance be made before or after the termination of the trust estate herein before granted, shall be sufficient to vest in the grantee or grantees therein named, the whole legal title and estate of the lands intended to be conveyed, in the same manner and with the like effect as if the three trustees for the time being, and all the parties of the first part and their assigns, had executed such conveyance. And it is further agreed, by and between the parties hereto, that it shall and may be lawful for the said parties of the second part, and for such persons as may from time to time be the trustees under this indenture, to retain out of the moneys that may come into their hands, under and by virtue of the several trusts herein created, all costs, charges and expenses of every kind to which they may be subjected, or which they may incur, including for their own 39 compensation in the premises ; and, also, that such trustees, and each of them, shall only be responsible for wilful default, and that no one of them shall be responsible for any act or omission of any other of the said trustees, but each shall only be responsible for his personal defaults in the premises. In witness whereof, the parties to these presents have hereunto interchangeably set their respective hands and seals the day and year first above written. Sealed and delivered, in presence of H. ULSHOEFFER. JOSEPH L. JOSEPH, (L. S.) FRANCES JOSEPH, (L. S.) HENRY DUDLEY, (L. S.) HELEN C. DUDLEY, {L. S.) JAMES L. CURTIS, (L. S.) CLARISSA E. CURTIS, (L. S.) JAMES B. MURRAY, (L. S.) MARIA MURRAY, {L. S.) GEORGE A. WARD, (L. S.) MEHITABLE WARD, (L. S.) LOUIS M'LANE, (L. S.) FREDERIC BRONSON, (L. S.) EDWARD A. NICOLL, {L. S.) THOMAS E. DAVIS, (L. S.) 40 CERTIFICATE, We certify that we have examined the annexed Arti cles of Agreement between the New Brighton Associates, and also the Deed of Trust referred to in the said arti cles ; and are of opinion that the articles are valid and binding under the provisions of the Revised Statutes, and that a conveyance by the Trustees of the premises men tioned in the deed, under the trust power therein contain ed, would vest in the purchaser an indefeasible title, ast= suming the title of Mr. Davis to be valid. April 9th, 1836. JOHN DUER, HENRY R. STORRS, BENJ'N F, BUTLER. 41 CERTIFICATE. We certify, that we have examined the titles of the se veral pieces of land belonging to the New Brighton Asso ciation, and laid down on a map, entitled "Map of New Brighton Property belonging to the New Brighton Associa tion, in the toivri of Casleton, county of Richmond, and state of New York, surveyed and drawn by J. Lyons, 1835," and signed by us, up to the time (9th June, 1836) of the recording of the deed of trust from Joseph L. Jo seph and others, to Louis McLane, Frederick Bronson, and Edward A. Nicoll, bearing date the 30th day of April, 1836 ; and have carefully searched, both personally and by the clerk of Richmond county, for mortgages, conveyances and other incumbrances thereon, and have also caused searches for judgments to be made so far as appeared to us necessary, against the different parties through whom the titles were derived ; and are of opinion that the title to the said pieces of land is good, and free from all incum brances, except the mortgage from Joseph L. Joseph and others, to Thomas E. Davis, for four hundred and forty thousand dollars, the payment whereof is provided for in and by the said deed of trust. We do not include, however, in this certificate the seve ral pieces of land marked on the said map as " not pur chased," nor the four several pieces marked on the said map as having been conveyed by Thomas E. Davis to Peter Stuyvesant, Henry P. Robertson, Newton Hayes, and Joseph W. Meeks, respectively; nor a piece of land colored light yellow on said map, and mentioned F 42 therein as having been conveyed by John M. Catlin and Peter Stuyvesant to Thomas E. Davis, bounded north erly by Wall street, westerly by Stuyvesant street, east erly by the New York Bay, and southerly by a line drawn from the said Bay parallel with Wall street to the junction of South and Tompkins streets. In making our investigations, we have relied, as to quantities and dimensions of the several pieces of land, on the surveyors employed to make the surveys. New York, Oct. 24, 1836. CHARLES GRAHAM, JOHN L. MASON.