101. Upon payment or legal tender of the compensation or annual rent so agreed upon, to the party entitled to receive the same, or upon the deposit in court of the amount of such compensation in the manner hereinafter mentioned, the agreement shall vest in the company the power forthwith to take possession of the lands, or to exercise the right, or to do the thing for which such compensation or annual rent has been agreed upon.
R. S. 1964, c. 290, s. 101.