Agreement

Whereby, in consideration of £250, John Linnett [sen.] (of High St., Coventry, milliner and draper) undertakes to let to John Simpson (of Earl St., Coventry; draper, furniture-manufacturer and furnisher) a messuage and appurtenances (except the cellar belonging to a neighbour) called 8, High St. (on the northern side of the street), occupied by J. Linnett [sen.] with sanitation and a right of road into Pepper Lane, for 21 years from 24th. June [, 1891], upon the following terms:-

I J. Simpson will pay £250 for the premises and the goodwill, contributing £100 now and £150 upon entry, but will be allowed £25 towards repair.

II A £175 p.a. rent will be quarterly paid with an appropriate fraction up to any re-entry date.

III The lease will include covenants by Simpson that he will pay rent punctually, discharge the usual imposts, insure the premises within one week of the lease's execution (until then upholding the current insurance-terms), paint the interior and exterior every three and seven years respectively (but Linnett will repair the roof before the lease begins), obtain written consent for structural alterations, prosecute no noxious trade, not sublet without written permission, suffer annual inspection and repair within one week of receiving notice to do so, and yield possession peaceably.

IV Linnett may re-enter if the rent or insurance-premium fall thirty days behind or Simpson breaks a covenant or becomes bankrupt.

V From 25th. Mar., 1891 to 29th. Sept., 1894 Simpson shall have the option of purchasing the premises for £5,000, and thence to 25th. Mar., 1898 for £5,250; the title will begin with the will of William Samuel Townsend (of Coventry, merchant) made on 21st. Jan., 1829.

[VI] Simpson will purchase the fixtures for a valuation to be agreed by a representative from each party (his being Mr. Whittindale) or their umpire.

[VII] Simpson will pay Linnett 8gn. towards costs.

[VIII] Linnett will covenant not to harm Simpson's custom.