WHEREAS by an Act of the General Assembly of New Zealand known as “The Napier Athenӕum and Mechanics’ Institute Incorporation Act, 1876,” it was enacted that the persons therein described should be and they were thereby constituted a body corporate, by the name of “The Napier Athenæum and Mechanics’ Institute” (hereinafter referred to as “the said body corporate”), and by such name should have perpetual succession and a common seal, and by the said Act now in recital (hereinafter referred to as “the said Act”) it was further enacted that the piece of land specified in the Second Schedule thereto, being the piece of land described in the Schedule hereto, with the buildings thereon, and all the appurtenances, and the whole legal and equitable estate and interest therein, should by virtue of the said Act be vested in the said body corporate, and certain powers of mortgaging the said piece of land without power of sale, and of leasing the same, were thereby vested in and conferred upon the said body corporate, in exercise of which powers the said body corporate has conveyed and assured the said piece of land, by way of first mortgage, to one James Fulton, by deed of mortgage registered in the Deeds Registry Office, Napier, as No. 18704, to secure one thousand three hundred pounds and interest (upon which the principal sum of one thousand pounds only is now owing), and by way of second mortgage to one Lina Eliza Fulton, by deed of mortgage registered as aforesaid, No. 22311, to secure one hundred and fifty pounds and interest, and has granted leases of certain portions of the said piece of land to certain tenants: And whereas the said body corporate is desirous of vesting the said piece of land in the Mayor, Councillors, and Burgesses of the Borough of Napier (hereinafter called “the said borough”) for purposes coming within the purview of Part XXXII of “The Municipal Corporations Act, 1900,” and the amendments thereof, or some one or more of such purposes, but subject to the said deeds of mortgage and all leases granted as aforesaid and now current, and the said borough is desirous of acquiring the said piece of land in manner aforesaid: