The weekly north Iowa times. [volume] (McGregor, Iowa) 1857-1867, 1857-11-04
Maultou City.

ARTICLES OF AGREEMENT RkTwE PAUL, MORTON
RIToRY, AND THE CHAR sHsLprRs OF the MAUI
TON cIrr rowN AND LAND COMPANY. H#%1
Afticlei. The company shall be organised on the
first Monday of May, A.. a., 1858 at the office Of Casa
day & Clark 10 Sioux City, Iowa. '.''-"- III
Article 2. A regular account shsll be kept Of the
number Of shares sold the amount paid thereon, and
list Of said shareholders Published once month, in
the Sioux City Eagle newspaper published in Sioux
Article 8. The Capital Stock of said town and land
company shall consist Of four thousand acres Of land,
including the town site Of Maultcn City the descrpon
of which Will more fully appear hereafter reference pc
| Ing had also to the diagram of said City.
Article 4. The said land shall be valued at nifty
thou and dollars which shall be divided into fifty
whole shares and one hundred half shares the value
Of which shall be respectively five hundred dollars aud
two hundred and fifty dollars. (. 50
Article s. When any share part Of share Is TAX
en- thers shall be paid down in cash two-fths Of the
amount thereof and the balance shall be paid to Paul,
Mourton Co.. or assigns in three equal annual pay
from tho date thereof with interest ut ten per
| cent. per snnum. Twenty-Five per cent OF the said
two-fths shall be paid the said Paul Morton 4 Co.,
at interest," with such persons as may DO agreed on
| subject to the order of the Mauton City Town and
Land Company, be returned to the proper owner
failure to organize said company in which ease the
said twenty Eve per cent shall also be refunded One
fifth Of the said twofhs, Ito VT ten thousand dol
lars the said Maulton City Town and Land Company
shall expend in improving said City, and tho balance
shall be paid over to the said Paul, Morton Co., or
their order. .. 81, -.
Article D. In case the salu SHAREHOLDERS OF any OF
them shall fail neglect to make payment to said
Paul, Morton Il Co. assigns the amount with inter-
est to be paid annually the said share, shares or
parts thereof the same on presentation Of the dupi.
cate contract, to the Nauton City Town and Land
Company after any Of faid payments shall become
due shall be by them declared forfeited and Of no ef
feet, and the said Town and Land Company shall be
and hereby, authorized thereupon to issue to the
said Paul, Morton Co. or their assigns new certif
and from that time they or their assigns shall be the
only true and lawful owners thereof Provided nc
share shares parts thereof shall be forfeited ..
aforesaid unless thirty days notice to that affect be FIRST
publ he'd in said Sioux City Eagle.
Article Each whole share shall be entitled to tws
each half share to one vote and may be repre-
sented in person or by proxy in writing in the man
agement Of the affairs Of said company.
Article g. The said company shall not be authoriz
per cent the amount OF any one share or part Of
, share, for any purpose whatever. enable notic
whereof to be given as they may deem proper.
at the time of the Organization Of sad company shall
belong to the said Paul. Morton Co., their assigns
and shall be subject to the same liabilities as othe
0 shares. 81 Z q ia
Article In. The said Paul, Morton Co., bind then,
selves their heirs executor, administrator and sign
to and with the several SHAREHOLDER and with the san
5 Maulton City Town and Land Company, when tn
= is organized in the penal sum of one thousan
dollars share and at that rate for parts of shares
well and truly to he made to Them their executors ad
mnstrators or assigns. The condition of which obi
CATION is such, however, that if the said Paul, orto
& Co. or their assigns shall well and truly perform al
and singular the things hereinafter set forth for then
to do and perform, according to the true intent an
meaning hereof aud the organization Of the Maui
ton City Y own and Land Company convey to them il
trust for the shareholders Of said CONF any, their heir
snd assigns by good and sufficient warranty decd,
fee simple the following described pieces parcel
land situate in the counties of Sioux, Clay, and Pal
Alto, in the State of Iowa, viz: mrs.
For "aulton City town site Sc or and fri hi OF zee
T. e5, r. Al ". containing 1853 IL acres, more or less
also the or of l. the or Of sec 8, tho fri
Of the or of sec 80 the or of 81, T. 95 r.
b also the hf of or IL also lot No. l. in Sc
22 also the ar % also the hf Or sec "a
also Of SO % T Of n ~ -; al~o " hf or se
IL ehfse Or Is, hf or and hf fri sec %
also Or sec IS hf sw or sec SO 7. 95 r. 4S W; ais
hf NV or sec 10 Or IL, hf or 2l. NV
see 81 halfnw or sec 20, .96, R. Al VI also NV or
Ia SEQ %, IL Sc Ia sec II T. 0S, As "; aiso
hfn Or and Or Of fri or sec rs % r 43 " al
in the county of Sioux aforeaid, and also hf ne
h NV or and or Of and ne or and NV "a Of M
or CO, ne or and Inf sw or 33, 95, IS w; al
in Clay county afore aid and also the or of NV
sec 2 hfne or sec T 81, "a "; all in Palo ALI
county aforesaid containing in all four thousand acre
of land moee less. Provided said town and LAM
company shall within year from said organization
donate the following blocks in said aulton City, 70
the following purposes, viz Block 81 for church puz
poses block AZ for court house block 46 for publ
park block So for hotel block e8 for Masonic pur
poses Block 06 for a steam mill; block So for
steam Grst will and block los for public school pur
poses On the performance Of the above condition
by the said Paul Morton Co. or their assigns the
this obligation to be null and void, otherwise 4
remain and be In full force aud virtue in law an,
equity. E#E ET ls+E-=aHs s5tt sis oi %