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J. H. F. refuses to make the first payout] (1/2 due 1st Jan. 1859)
until J. R. makes him a deed in his own name.
This J. R. was willing to do from the 1st to the 18th of Jany
JHR being then present & ready to make the deed either
to JR or JHF as he should be directed. J. H. F.'s plea up to
that time was that he did not have the money. On the 18th
[illegible line]
himself ready to make his payment provided JR would
make him a deed in his own name. (the [tiitle being still
in J.H.R.) J. H. R. upon having had left a deed from himself to
J.H.R. which however he was not willing to recover.
J. R. there upon wrote him a note containing these
propositions. 1st to give him J.H.R.'s deed & take his
bond with security for the last payment or 2nd Eexecute
a receipt to him for the amt. paid & good security
thereto holding himself bound to make a deed in
his own name when the whole amt. was paid.

By J.R. Can I sue Mr F in Equity immediatly for the penalty
($500]) or must I wait until the last payment is due to see whether
he intends to settle at all or not? I do not doubt that I am bound
to make him a deed in my own name but the question
is, am I bound by the articles to execute the deed before he
pays the full amt. of the purchase money, & if not am I
bound to wait until the last payment becomes due before
I can proceed [vs?] him for either the first payment or penalty

In short has he not broken the contract & if so am I not
intitled to claim the penalty & first payment immediately.