The £50 fee for the painting was paid for by a servant of Nicholas, Robert Boulton, who wanted Preston Corporation to have the portrait "as proof that they once had an honest man to represent them in Parliament".
Please note that although the people of Preston often spell his surname with a "c", Nicholas himself did not. The signature is underneath the photograph is genuine and does not have a "c"!
A high resolution copy of the portrait of Nicholas is available in the reference section of this site.
Nicholas lived in Prescot, but also owned property in London.
The High Street in Prescot was, until 1850, called Fazakerley Street, named after Nicholas, who lived at number 3. The house is still there today.