That each Purchaser shall, besides the Purchase-Money, be subject to the Payment of an Annual Quit-Rent to Us, Our Heirs, and Successors, of Six-pence per Acre, under the Penalty of Five Pounds per Acre upon Non-payment thereof; such Quit-Rents, in the Case of the Purchase of cleared Lands, to commence from the Date of the Grant; and the first Payment to be made at the Expiration of the First Year; and in Case of the Purchase of the uncleared Lands, such Quit-Rents to commence at the Expiration of Twelve Months from the Time each Acre is cleared.
That in Case of Failure in the Payment of the Purchase-Money in the Manner above directed, the Purchaser shall forfeit all Right to the Lands purchased.
That no Person shall purchase at any publick Sale more than Five Hundred Acres of cleared or uncleared Lands, in the Islands of Grenada, and the Grenadines, Tobago, and St. Vincent's, and in the Island of Dominica the Quantity shall be restrained to Three Hundred Acres; and in Order to enforce this necessary and essential Regulation, that a Condition shall be inserted in every Grant, to be made in Consequence of such Purchase, that in Case any Purchase shall be made contrary thereto, so that the Property of the Purchaser in the Islands where the Lands lie, shall thereby amount to more than the above Quantity respectively, the same shall be void, the Money paid thereon forfeited, and the consequential Grant of no Effect.
That all and every Purchaser of Lands, upon the foregoing Terms and Conditions, shall immediately, upon the Payment of the first Twenty per Cent. of the Purchase-Money, receive a Bill of Sale, signed by the said Commissioners, which shall entitle such Purchasers to a Grant of the said Lands, under the Seal of the Islands, containing the aforementioned Conditions and Reservations: Which said Purchase, and Grant in Consequence thereof, duly registered in the proper Offices, shall be good and valid in Law against Us, Our Heirs and Successors, unless the same shall be revoked: And We do hereby declare the same revocable by Our Commissioners of Our Treasury, or Our High Treasurer for the Time being, within Twelve Months from the Date thereof; in which Case such Purchase and Grant shall become void and of no Effect; and upon Notice of such Revocation, the said Commissioners shall return to such Purchaser the Money paid upon the Purchase, with legal Interest thereon, and reasonable Allowance for any Improvements made on the said Lands.