And also the said Gyles Alleyn and Sara his wife do by these presents demise, grant, and to farm lett unto the said James Burbage all the right, title, and interest which the said Gyles and Sara have or ought to have in or to all the grounds and soil lying between the aforesaid Great Barn and the barn being at the time of the said former demise in the occupation of the Earl of Rutland or of his assigns, extending in length from the aforesaid pond and from the aforesaid stable or barn then in the occupation of the aforesaid Earl of Rutland or of his assigns, down to the aforesaid brick wall next the aforesaid Fields.[40]
And also the said Gyles and Sara do by these presents demise, grant, and to farm lett to the said James all the said void ground lying and being betwixt the aforesaid ditch and the aforesaid brick wall, extending in length from the aforesaid [great stone] wall[41] which encloseth part of the aforesaid garden being at the time of the making of the said former demise or late before that in the occupation of the said Gyles Allen, unto the aforesaid barn then in the occupation of the aforesaid Earl or of his assigns.
The lease was formally signed on April 13, 1576, and Burbage entered into the possession of his property. Since the terms of the lease are important for an understanding of the subsequent history of the playhouse, I shall set these forth briefly:
First, the lease was to run for twenty-one years from April 13, 1576, at an annual rental of £14.
Secondly, Burbage was to spend before the expiration of ten years the sum of £200 in rebuilding and improving the decayed tenements.
Thirdly, in view of this expenditure of £200, Burbage was to have at the end of the ten years the right to renew the lease at the same rental of £14 a year for twenty-one years, thus making the lease good in all for thirty-one years:
And the said Gyles Alleyn and Sara his wife did thereby covenant with the said James Burbage that they should and would at any time within the ten years next ensuing at or upon the lawful request or demand of the said James Burbage make or cause to be made to the said James Burbage a new lease or grant like to the same presents for the term of one and twenty years more, to begin from the date of making the same lease, yielding therefor the rent reserved in the former indenture.[42]
Fourthly, it was agreed that at any time before the expiration of the lease, Burbage might take down and carry away to his own use any building that in the mean time he might have erected on the vacant ground for the purpose of a playhouse:
And farther, the said Gyles Alleyn and Sara his wife did covenant and grant to the said James Burbage that it should and might be lawful to the said James Burbage (in consideration of the imploying and bestowing the foresaid two hundred pounds in forme aforesaid) at any time or times before the end of the said term of one and twenty years, to have, take down, and carry away to his own proper use for ever all such buildings and other things as should be builded, erected, or set up in or upon the gardens and void grounds by the said James, either for a theatre or playing place, or for any other lawful use, without any stop, claim, let, trouble, or interruption of the said Gyles Alleyn and Sara his wife.[43]
Protected by these specific terms, Burbage proceeded to the erection of his playhouse. He must have had faith and abundant courage, for he was a poor man, quite unequal to the large expenditures called for by his plans. A person who had known him for many years, deposed in 1592 that "James Burbage was not at the time of the first beginning of the building of the premises worth above one hundred marks[44] in all his substance, for he and this deponent were familiarly acquainted long before that time and ever since."[45] We are not surprised to learn, therefore, that he was "constrained to borrow diverse sums of money," and that he actually pawned the lease itself to a money-lender.[46] Even so, without assistance, we are told, he "should never be able to build it, for it would cost five times as much as he was worth."