if they shall be considered worth, agreeably to the average price of the whole, that sum, but if they should not be worth that amount agreeably to the said average, their estimated value is to be paid on their delivery, but the balance required to make up the amount of twenty five thousand dollars, shall be paid on the delivery of the other slaves in the fall. For the remaining sum of ninety thousand dollars, which J. Beatty & H. Johnson agree to pay, they are to have a credit of ten years, paying interest at the rate of six percent annually thereon; it being agreed and understood, that at the end of five years from the delivery of the said slaves at Alexandria, in the fall, as stipulated, the payments are to be made in five equal annual installments of eighteen thousand dollars each, from that time; that is, the first payment is to be made in the month of March next after the said time thus designated, and the other installments annually thereafter. It is distinctly understood , however, that the interest is to be paid from the time of the delivery of the slaves, as aforesaid, and that the first payment of interest will commence from the time of said delivery, and be calculated up to the period of
Page:Articles of agreement between Thomas F. Mulledy, of Georgetown, District of Columbia, of one part, and Jesse Beatty and Henry Johnson, of the State of Louisiana, of the other part. 19th June 1838.pdf/5
