CASE, Judge.
On or about 8 March 1962, J.N. Harber, as first beneficiary, and Luke Land and Development Co., as second beneficiary, entered into what is commonly called a subdivision trust. This trust provided that Luke would purchase 2,315 acres of land from Harber for $1,000,000.00 under an agreement providing for a down payment of $100,000.00 and annual installments of $90,000.00 or more, with five percent interest. Luke was given the right to subdivide the land...
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