Know All Men by These Presents, that Hiram White, of the County of Ventura, State of California, the party of the first part, hereinafter designated as the vendor, and William Willard, of the County and State aforesaid, the party of the second part, hereinafter designated as the vendee, have entered into the following agreement, that is to say: the said vendor has sold, and the said vendee has purchased, the following described land, situate in the County of Ventura, State of California, to-wit: the Southwest Quarter (S. W. ¼) of Section Twelve (12), in Township Seven (7) North, Range Thirty-three (33) West of S. B M., containing one hundred and sixty (160) acres, more or less, on the following terms and conditions, viz:
The purchase price is Seven Thousand Dollars ($7000), to be paid in United States Gold Coin, of which the sum of Two Thousand Dollars ($2000) is paid this date by the vendee to the vendor, the receipt whereof is hereby acknowledged.
A deed executed by the vendor conveying said land to the vendee, as aforesaid, is to be executed and placed in escrow with the Bank of! Ventura, in the town of Ventura, to be held by said Bank according to the terms of this agreement.
If the payment of the remainder, to-wit: the sum of Five Thousand Dollars ($5000), together with interest thereon from this date until paid, is made on or before November 1, 1905, then said Bank is authorized and instructed to deliver said deed to the vendee and said sale shall be consummated. If said payment is not made within the time limited, as aforesaid, then said deed shall be returned to said vendor and all payments theretofore made shall be forfeited to the vendor as liquidated damages, and the vendee shall acquire no rights to said land by reason of such payments.
The vendor shall be permitted to retain possession of said land and to cultivate and graze the same until November 1, 1905, and to receive and retain the benefits thereof.
This agreement is made in triplicate, one copy to be kept by the vendor, one copy by the vendee, and one copy to be delivered to and retained by the said Bank of Ventura as its authority and instructions in the premises.
Time is of the essence of this agreement and a non-compliance with the terms hereof will work a forfeiture.
In Witness Whereof, the parties hereto have hereunto set their hands and seals this 29th day of July, 1905.
Hiram White. (Seal.) William Willard. (Seal.)