It shall be lawful for the Governors to purchase the land described in the Schedule hereto, or any portion or portions thereof, on such terms and conditions as may be agreed upon, and may include, as the consideration for any such purchase or purchases, the waiver of any claim or claims against the Corporation in respect of lands injuriously affected by the execution of reclamation aforesaid; and may reconvey, by way of mortgage to the Corporation, the said lands so purchased, for the purpose of securing payment of the whole or any part of the purchase-money for the land so purchased, at such rate of interest, and upon such terms and conditions, and with such powers of sale or otherwise as the Governors may deem expedient.