The weekly north Iowa times. [volume] (McGregor, Iowa) 1857-1867, 1857-12-16
Maulton City.

MaultOn City. rar e
ARTICLES OF AsRssMRNT PETwE. n pAcL. MORTON
CO., OF DECATUR, BURT COUNTY NEBRASKA TER
RiToRY, AND TIE SHAREHOLDERS OF THE MAUI.
TON CRY TOWN AND LAND COMPANY.
Article l. The company shall be organized on the
Gk n If sAS SGx CITY iowa iowa at the Office of caa
+ Article 2. regular account shall be kept OF the
the paee Of RESIDENCE the aeveraI
q list Of said shareholders published once month, in
the Sioux City Eagle newspaper published In Sioux
Article g. The Capital Stock of said town ard land
company shall consist of four thousand of land,
including the town site Of Maulton City, the description
OF which will fully appear hereafter reference be
ing had also to the diagram Of said City
Article 4. The said land shall be valued at fifty
thousand dollars; which shall be divided into Fifty
whole shares and one hundred half shares the value
Of which shall be respectively five hundred dollars and
two hundred aud fifty dolar3.
Article5 When any share or part Of share Is TAX
there shall DO paid down in cash twofths Of the
amount thereof and the balance shall be paid to Paul
Mourton Il Co., assigns in three equal annual pay
ncnt from the date thereof with interest At ten Per
cent. per annum. Twenty live per cent Of the said
twoEfths shall be paid to the said Paul Morton Co.,
for expense account and the balance shall be deposited
at interest with such Pe,,ons as may be agreed on,
Land Company, to be returned to the proper owner,
on failure to organize said company in Which the
said twenty-five per cent shall also be refunded One
fifth of the said two-fths, Ito Vit ten thousand dol
larso the said Maulton City Town and Land Company
shall expcnd in improving laid City, and the balance
shall be paid over to the said Paul, Morton 4 Co., OF
their order.
Article 6. In case the said shareholders or any o,
them, shall fsi! neglect to make payment to said
Paul, Morton l. Co. assigns, the amount with inter
est, to be paid annually the said SHARE shares OF
rarts thereof the same on presentation Of the dup
cate contract, to the Marlton City Town and Land
due shall be by them declared forfeited and of no eff
feet, and the said Town and Land Company shall be
and hereby, authorized thereupon, to issue to the
said Paul, Morton 4 Co. their assigns, new certif
Gates for said forfeited share, shares parts thereof
and from that time they, their assigns shall be the
only true aud lawful owners thereof Provided nc
share shares parts thereof, shall be forfeited q.
aforesaid unless thirty days notice to that aHect be rs
publ he'd in said Sioux City Eagle. fs5s5
Article I Each whole share shall be entitled to two
votes each half share to one vote and may be repre-
sented in person or by proxy in writing, in the man
agomcnt of the affairs of said company
Article s. The said company shall not be authoriz
ed to asses Or collect i'll any year, more than ter
per cent on the amount of any share. part Of
share, for any purpose whatever reasonable notic'
whereof to be given as they may deem proper. zE
Article O. All shares parts of shares not taken a
of the time of the Organization of said company shal
belong to the said Paul, Morton Co., their assigns
and shall be subject to the came liabilities as othe
shares.
Artic,e1o The said Paul, Morton L Co., bind them
selves their heirs executors, administrators and assign
to aud with the several shareholders and with the sat
| Maalton City Town and Land Company, when thu
same is organized, in the penal sum of one thousant
dollars per share and at that rate for parts of shares
well and truly to be made to them, their executors ad
| illustrators assigns. The condition Of which obi
CATION IL such, however, that II the said Paul, Norto,
& Co. their assigns shah we'll and truly perform al
ard singular, the things hereinafter forth for then
to do and perform, according to the true intent
meaning hereof and on the organization OF the Mau!
ton City Town and Lard Company convey to them il
trust for the shareholders of fad company, their heir
snd assigns by good and sufficient warranty deed, il
fee simple the following described pieces parcels
land situate in the counties OF Sioux, Clay and Pal
Alto, in the State of Iowa, viz:
For Haulton City town site Or and fri hf OF
r. S. X. ~ containing 46S l-2 acres or less
also the Or of sec Z the of sec the " fri
OF the or of so the Or of 81, T. 95 r.
" also the hf Of se'qr sec IL also lot No ], in
% also the or sec &c also the If sc or 2S
also OF Sc sec 2s T. 81 4S W also hf GO or re
ii hi Or Is, Inf Or and hf fri or %
also Or IS " Inf sw or 80 I. 95 Il. As "; ais
hf NV Or 10 or sec H. If sw or sec Fl. q
sec 21 halfnw Or 90 r. 90, II. Al W; also or
sw II geo %, To Sc IL 81 7. So, As W; also
hfne pr, and or Of fri or 25 I 90 II 43 n
in the county Of Sioux aforesaid, and also Inf q
/ and or sec or of NV Or and hi or sec 3,
hi NV Or and sw ar Of nwer and ne or and ga oin,
Or ec9, or and hi or sec 30 I 95, IS W; al
in Clay county aforesaid and also the Or of q
sec 81 hfne sr sec 3 I "a, X "a W; all in Patio Alt
county afore aid containing in all four thousand acre
| of land moce less. Provided said town and LAM
company shall within year from said organization
donate the following blocks in said Tau!toh City, 70
the following purposes, viz: Block "a for church pun
poses block AZ for court house block 46 for publ
park block So for hotel block 6s for Masonic pur
steam Grt Mill and block LOG for public school pun
| poses. On the performance of the above condition
| by the said Paul Moron Il Co. their assigns the
| this obligation to be null and void, otherwise +
! remain and he in full fierce and virtue in law an
| equity.