Letter from Franklin Snyder Richards, 19 April 1894
Salt Lake City, Utah, .
President Wilford Woodruff,
City.
Dear Brother:
I have examined the accompanying contract for the sale
of land of the Corinne Mill Canal & Stock Company and find that the
provisions of the same are very stringent against the purchaser who
pays about $30. an acre for the land in ten annual installments with
interest at eight per cent. per annum on the deferred payments. The
contract provides that "in case a failure on the part of the party of
the second part to pay any of said installments or the interest theron,
or to pay any charges or costs for water as herein provided, or to pay
any Territorial, County, School, or other taxes or assesments as herein
provided, or to comply with any stipulation of this contract, that the
amount theretofore paid hereunder shall be forefeited to and belong to
the party of the first part as liquidated damages for the failure and as
rental in full for the use and occupancy of the property, and this
contract shall terminate and cease, and all rights secured to or acquired
by the party of the second part hereunder shall be immediately forfeited
to the first party without any further act, action, proceeding or
declaration of forfeiture by the first party, and the said party of the
first part shall have the right to re-enter and take possession of said
premises with all the improvements then thereon, with or without force,
and with or without notice, at its option, and the party of the second
part will quit and surrender to the party of the first part of the quiet
and peaceable possession thereof." Under this provision after the
purchaser has paid nine installments of the purchase money $27. an
