IX. Every such Debenture shall be for £100 and shall bear
interest after a rate to be therein fixed, which interest shall be
payable half-yearly from the date thereof: Provided always that
such interest shall not exceed eight pounds per centum per annum.

X. The said Debentures shall be a first charge upon the
several allotments or parcels of land comprised in the Deed of Grant
of the twenty-third day of March 1858, particularly described in
the Schedule A to this Act annexed; and it shall be lawful for the
holder of any such Debenture in case the money advanced upon
the same shall not be paid at the time fixed in the said Debenture
for the payment thereof, or in case any interest due in respect
of the same shall be in arrear for the space of six calendar months to
make a written demand of payment thereof on the Superintendent
for the time being of the said Province by leaving the same at his
usual office, and if default shall be made in payment of the said
money for the space of one month from the service of such demand,
then at any time after the expiration of the said last-mentioned
period, it shall be lawful for any such Debenture-holder to apply
summarily by petition to the Supreme Court of New Zealand,
praying a decree to the effect that the said lands or a sufficient
part thereof may be sold and the monies arising from such sale
may be paid into the said Court to be administered for the benefit
of all the holders of the said Debentures, and it shall be lawful for
the said Court to make such order upon such petition as to the
Court shall seem fit; and in particular to make such order for sale
of the said lands or a sufficient part thereof to raise money for
payment of all unpaid Debentures issued under this Act, and all
costs and arrears of interest thereon, and such sale shall be
altogether and in one lot or in parcels and several lots, and either
by auction or private contract, and generally in such manner as to
the Court shall seem fit, with liberty for the Court to order the
same to be bought in and resold in like manner; and to direct the
Registrar of the said Court or such other person as the Court may
direct to convey the lands sold to the purchaser or purchasers
of the same in fee-simple, or for such less estate as the Court shall
direct, which conveyance shall be binding and conclusive on the
said Superintendent and all other persons whomsoever, and
to direct the payment of the purchase money of the lands sold into
the said Court, (thereceipt of the Registrar of the said Court being a
sufficient discharge to the purchaser for the same), and out of the
proceeds of the lands sold to direct payment of all costs and
expenses attending the sale, or in any manner incident thereto,
or to such proceedings as aforesaid; and also the costs of the
petitioner in the matter of the petition, and all such other
costs as the Court shall direct; and subject thereto to direct
that the proceeds of such sale shall be carried to the
account of a fund in the said Court, to be called “The Auckland
Harbour Debenture Fund;” and from time to time to make such
order upon petition as to the Court shall seem fit for payment
out of the said fund to any holder of a Debenture issued under
this Act of all money due on such Debenture for principal and
interest; and of all costs incident to the petition, or incurred by
reason of the non-payment of such money; and it shall be lawful