The weekly north Iowa times. [volume] (McGregor, Iowa) 1857-1867, 1857-11-18
Maulton CITY.

ARTICLES OF AGREEMENT rETwEtN PAUL, MORTON
CO., OF DECATUR, BURT COUNTY NEBRASKA TER
RIToRY, AND THE SHAREHOLDERS OF THE MAUI
TON CITY TOWN AND LAND COMPANY. e..
Article The company shall be organized the
first Monday of May, A. o. 1858 at the Office Of Casa
day h Clark in Sioux City, Iowa.
ubr rsFsaF shall ss kept
the place of residence Of the several Shareholder and
a list Of said shareholders published once month, in
the Sioux City Eagle. newspaper published in Sioux
City, Iowa.
Article 3. The Capital Stock of said town and land
company shall consist of four thousand acres of land
including the town site Of Maulton City, the description
Of which will more fully appear hereafter reference be
ing had also to the diagram of said City.
Article 4. The said land shall be valued at nifty
thousand dollars which shall be divided into fifty
whole shares and one hundred half shares the value
Of which shall be respectively i've hundred dollars, and
two hundred and fifty dollars.
Articles. When any share or part Of share Is TAX
there shall be 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
ment from the date thereof with interest at ten per
cent. per annum. Twenty five per cent Of the said
two-fths shall be paid to the said Paul Morton Co.,
expense account and the balance shall be deposited
at interest, with such persons may be agreed on,
subject to the order Of the Maulton City Town and
Land Company, or to be returned to the proer owner
failure to organize sad company in which the
said twenty-five per shall also be refunded One
fifth Of the lid twoffth, Ito it ten thou and dol
lars the said Maulton City Town and Land Company
shall expend in improving aid City, and the balance
shall be paid to the said Paul, Morton Co.
their order ...s
Article 8. In case the said shareholders or any OF
them, shall fail neglect to make payment to said
Paul. Morton Il Co. assigns the amount with inter-
ct, to be paid annually on the said 'hare, shares or
parts thereof the presentation Of the dupl-
cate contract, to the Naulton City Town and Land
Company after any of said payments shall become
due shall be by them declared forfeited and Of no e
feet and the laid Town and Land Company shall be
and hereby, authorized hercupon, to issue to the
said Paul, Morton Co. their assigns, new certf-
Gates for said forfeited share, thare parts thereof
only true and lawful owners thereof Provided no
share shares parts thereof shall be forfeited as
aforesaid unless thirty days notice to that Affect be t
| publ he'd in said Sioux City Eagle.
Article Each whole share hall be entitled to two
votes each half share to one vote and may be repre
sentcd in person by proxy in writing, in the man
| agement of the affairs of aid company.
Article 8. The said company shall not be authoriz
ed to assess or collect in any one year more than ten
per cent on the amount of any share part Of
| share, for any purpose whatever enable notice
whereof to be given as they may deem proper.
Article All hares or parts of shares not taken at
at the time of the organization of said company shall
belong to the said Paul, Morton Co.. or their assign
and shall be subject to the liabilities Other
| sh8res.
Article 10. The said Paul Morton & Co.. bind them
selves their heirs executor administrator and assigns
to and with the several shareholders and with the said
Mauiton City Town and Land Company, when the
same is organized in the penal sum of thou and
dollars per hare and at that rate for parts of shares
well and truly to be made to Them their executors adj
ministrators assigns. The condition Of which obi
CATION Is such, however that if the said Paul, ortor
& Co. or their assigns shah well and truly perform al
and singular the things hereinafter set forth for them
to do and perform, according to the true intent and
meaning hereof and the organization OF the Maui
ton City Town and Land Company convey to them in
trust for the shareholders Of said company their heirs
snd assigns by good and sufficient warranty deed, in
fee simple the following described pieces parcels Of
land situate in the counties of Sioux, Clay and Pale
| Alto, in the State of Iowa, viz
For Naulton City town site or and fri Inf of
4. 95, X. Al ". containing 46S 1-2 acres less
also the or Of T. the or of sec g. the fri h
of the or of 80 the or of 81 T. 95 r. Al
also the hf of Or IL also lot No. l, in
% also the Or 26 also the Inf &c pr %
also Of % +. "a Il 4S also bf Sc or sec
IA ehf or Is, hf or and hf fri or 20
also Or So hf or SO T. 95 X. 4S "; also
hf NV Or sec 10 NV or IL, hf or 81. 81
sec 81 hafnw or sec 20, T. &C. II. Al also or
sw Ia o. 1-2 Sc Ia sec p II. &c. As W; also
hfne Or. and or of fri or rs 7 95 43 ": all
in the county CT Sioux aforesaid and also hf qI
and sc or sec sw or Of or and W hf Or 3,
or sec o. or and hf or IS, 95, IS W; all
in Clay county aforesaid and also the or Of Of
sec 2. IS hf ne or 3 "a, "a W; all in Palo Alto
county aforesaid containing in all four thousand
Of land moee less. Provided said town and land
company shall within year from said organization
donate the following blocks in said "aulton City, for
the following purposes, viz Block "a for church pur-
poses block AZ for court house block 46 for public
park block So for hotel block GS for Masonic pur-
poses Block Sc for steam mills block So for q
steam Grt Mil and block LOG for public school pur-
poses. On the performance of the above conditions
by the said Paul Morton Co. their assigns then
remain and 10 in full force and virtue in law and