Williams v. John L. Roper Lumber Co.

On 18 January, 1906, J. M. "Williams executed to defendants’ grantor a timber deed containing the following clause: “The party of the first part grants unto the party of the second part the full term of ten years from this date in which to cut and remove the timber hereinbefore described, and if not removed in that time, then the party of the second part, his heirs and assigns, shall have such additional time as they may desire, not exceeding ten years, by paying annually, on the first day of January of each year, to said J. M. "Williams, interest ■at 6 per cent on the purchase price…