1. The Mumbles Railway and Pier Company Limited and The Swansea and Mumbles Railways Limited, registered office at Midland Bank Buildings, Castle Square, Swansea (the lessors)
2. The South Wales Transport Company Limited, registered office at 88 Kingsway, London (the lessees)
3. The Mayor, Aldermen and Burgesses of the County Borough of Swansea (the licensees)
1. and 2. agree to permit 3. to construct and maintain a six inch diameter sewer and manhole within and under land belonging to 1. and 2.
Consideration: 3. will pay to 2. the sum of £1