The weekly north Iowa times. [volume] (McGregor, Iowa) 1857-1867, 1857-10-14
Maultod CITY.

ARTICLES OF AsREEMENT BIrwE'N PAUL, MORTON
AGO., OF DECATUR, BURT COUNTY NEBRASKA TER.
RIrORY, AND The sHAE, HOLDERS OF THE MALL.
TON CITY TOWN AND LAND COMPANY.
Article ]. The company shall be organized on the
hrst Monday OF May A. o., 1858 ut tho Office of Casa
day. &c. G''sk in s siou1 City, Iowa
Number of shares sold the amount Uaid thereon and
place Of residence Of the several shareholders and
the Sioux City Eagle. newspaper published in Sioux
City, Iowa.
Article 8: The Capital Stock of said town and land
company shall consist of four thousand Of land
Including tho town site OF Maul.on City, the description
Of which viii more fully appear hereafter reference BE-
Ing had also to the diagram Of s.d City.
Article 4. The said land shall be valued ct ffty
thousand dollars which shall be divided into fifty
whole shares and one hundred half shares tho value
Of which shall be respectively five hundred dollars aud
two hundred and fifty dollars.
Article When any share or part Of share il TAX
en- there shall be paid down in cash twofths Of the
amount thereof and the balance shall be paid to
Mourton Co.. assigns. in three equal annual pay
nent from the date thereof with interest ut ten per
cent: per :nnum Twenty-Five Per cent Of the said
two-ffths shall be paid to the sad Paul MortoA & Co.
Tor expense account and the balance shall be deposited
1t interest, with such per ons may be agreed on
subject to the order OF the Mauton City Town and
Land Company or to be returned to the rrorer owner
ON failure to organize said company in W ih tho
said twenty-five per cent hall sio be refunded. One
lars the aid Mauton City Town and Land Company
all expend in improving raid City, and the balance
rhal be paid over to the said Paul, Morton Il Co.
Article s. In the said shareholders or any Of
them, shall fail or neglect to make payment to said
Paul, Morton C,. assigns, the amount with inter
et to he paid annually the said share, ,hares or
Iart' thereof the same on pre- entaion Of the dup.
cate contract, to the rauton City Town and Land
COMPANY after any Of said payments shall become
due shall be by them declared forfeited and of no ei
feet, and the raid Town and Land Company shall be
and Are hereby authorized thersupon, to issue to the
eald Paul, Morton Il Co. or their assigns, ccrth-
Gates for said forfeited SHARE harcs, parts thereof
and from that time they, their assigns, shall be the
only true and lawful owners thereof Provided no
share share: or parts thereof. shall be forfeited
afore aid unless thirty day. notice that affect be frat
publ he'd in said Sioux CT Eagle.
Article Zach whole share hall be entitled to two
votes each half share to vote and may re re;rs
rented in per on or by proxy in writing, in tn: man
ascment Of the affair: of aid company.
Article 8. The said company shall not be authoriz-
Ell to ascs or collect in any one year. more than ten
per cent on the amount of any share part Of a
share, for any purpo whatever rca enable notice
whereof to be given "a they may deem proper.
aArticln9 All hares or parts Of shares not ta.en ct
at the time tf The oraynx,t'n OF said company shall
belong to the aid Paul, Morton Co.. or their asgne,
and shall be subject to the liabilities other
s1sres.
Article L.. The sad Paul, Morton ( Co., bind them
felves their heirs. executor administrator and sign,
to and with the several share holders and with the raid
Maul:on City Town and Land Company, when tine
ZANE IL organized, in the penal of thou and
dollars hare and at that rate for rarts eli shares,
well and truly 70 be made to them, their executors ad
mini traitors assigns The condition of which obli
CATION -uch however, that if tie aid Pau,
Co. their assigns shah well and truly perform all
and singular. the things hereinafter forth for them
To do and peri rn, according to the true intent and
meaning hereof and the organization of the Maui
ton City Town and Land Company convey to them in
Euss for the Shareholders Of ,aid company, their herr
Nd assigns by good and sufficient warranty deed, in
fee impe tie following de cr.bed pieces parcel. OF
land situate in the counties of Sioux Clay, and Palo
Alto, in the State of Iowa. viz
For Naulton City town site or and fri Inf OF re-.
T. sj Il. Ew containing ass l-2 acres, or less;
also the OF sec l. the or 8, the fri hr
81 the ar of 80 the or Of 81, r. 95 r. ~
~ also the hi Of Or II also lot No. l, in
slso sw Of IS T. "a 4S also hf sc or zee
II chfse or IT, III or and hf ri Or %;
Also or So Inf ~ Or 3j T. 95 r. 4s also
Y ut INV or sec 10 NV or IL, hf or 81 or
sec 81 hafnw or 90, as K. ~ W; also Of
~ IL feo 90, IL SC IL Il r. 9j, X 40 also
hfne or, and or of fri ar 25 I 9S 43 w all
in the county Of Sioux sfJrc aid and al hf or
and sc or sec Or Of NV ar and W lif qr g.
hf nv or and or Of or and or and IA OF nv
or scc0 or and hi or 33. I 95. Il IS W. all
in Clay county afores aid and al the or or
sec 2. hfne Or sec 7 81, 81 W: all in Palo Alto
county aforesaid containing in all four thousand
Of land moee or. less. Provided sad iowa and land
company shall wthn-one year from said organization,
donate tho following blocks in said taulton City, for
tho following purPo viz: Block 81 for church pur-
po'es block AZ for court house block IS for public
park block So for hotel block IS for Masonic pur-
Grt Mill and block lu6 for public school pur-
poses On the performance Of the above conditions
by tho said Paul morton Co. their gns then
this obligation to be null and void otherwise to
remain and 10 in full force and virtue in law and
equity.