276 CONVEYANCING. [ART. 21

as to subsequent purchasers in good faith, and creditors; pro-
vided, the term during which the rent or instalments are to be-
paid shall not exceed ten years. Such contracts shall be in writ-
ing and shall be acknowledged and recorded as deeds in the
county in which the said vendor or lessor has its principal office
in this State.

1884, ch. 485. 1888, ch. 395.

85. All leases or sub-leases of land made in this State between
the 8th day of April, 1884, and the 5th day of April, 1888, for a
longer period than fifteen years, shall be redeemable at any time
after the expiration of fifteen years, at the option of the tenant, for
a sum of money equal to the capitalization of the rent reserved at
the rate of six per centum in gold coin of the United States, or its
equivalent, unless some other sum not exceeding four per cent,
capitalization of said rent in said coin shall be specified in said
lease, in which event said rent shall be redeemable for the sum
fixed in said lease or sub-lease. All rents reserved by leases or
sub-leases of land made in this State after April 5th, 1888, for a
longer period than fifteen years shall be redeemable at any time,
after the expiration of ten years from the date of such lease or
sub-lease, at the option of the tenant, after a notice of six months
to the landlord, for a sum of money equal to the capitalization of
the rent reserved at a rate not to exceed six per centum.

1884, ch. 238, secs. 1-2.

86. In all cases where proceedings shall have been or shall be
instituted for the renewal of leases for ninety-nine years, renew-
able forever, which shall have expired, or shall be about to expire,
and the court shall have decreed or shall decree the renewal of
such leases, such decree shall be sufficient to renew the title of all
parties to such leases, their heirs, personal representatives and
assigns, as the case may be, for another term of ninety-nine years,
as fully as if the lease so renewed had been originally made for a
length of time equivaient to such renewal term, added to the orig-
inal term; provided, that no such decree shall bind any person
not a party to said suit. A copy of such decree shall be recorded
among the land records of the county or city where the lands de-
mised in such leases lie.

1886, ch. 154.

87. Whenever the lessee or lessees named in any lease or sub-
lease containing a covenant for perpetual renewal, or any person