The weekly north Iowa times. [volume] (McGregor, Iowa) 1857-1867, 1857-12-30
Maultou CITY.

ARTICLES or AGREEMENT pErwE N PAUL, MORTON
& CO., OF DECATUR, BURT COUNTY NEBRASKA TER
KIroKY, AND THE sHAR, HOLDERS OF THE MAUI.
TON CITY TOWN AND LAND COMPANY. tRsssss f O.
Article l. The company shall be organized on the
first Monday Of May A. ~, 1858 at the Office Of Casa
day & Clark in Sioux City, Iowa.
number of shares sold the amount paid thereon, and
the place of residence OF the several sareholder
list of said shareholders published 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 lana
Of which will more fully appear hereafter reference be
ing had also to the diagram Of said City.
Article 4. Tho 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 and fifty dollars E'
Artclc5 When any share or part of a share ia tax.
there shall be paid down in cash two-ths Of tho
amount thereof and the balance shall be paid to Paul
Mourton Il Co.. asgns in three equal annual Pay
mcnt from tho date thereof with interest at Per
cent. per annum. Twenty-Five per cent OF the raid
twoffths shall be paid to the said Paul Morton Co.,
for cxpene account and the balance shall be deposited
at interest, with such per ons may he agreed on,
subject to the order Of the Maulton City Town and
Land Company, to be returned to the proper owner
on failure to organize said company in which the
aid twenty five Per cont shall also be refunded. One
fifth of the said two6f.h, Ito it: ten thousand dol
shall cxpend in improving sad City, and the balance
shall be paid over to the said Paul. Morton Co. or
Their order. z a
Article 9. In case the said shareholders or any Of
them, shall fail neglect to make payment to raid
Paul, Morton 4 Co. assigns, the with inter-
est to be paid annually the sad share, shares
cate contract, to tho Naulton City Town and Land
Company after any OF raid payments shall become
due shall be ~ them declared forfeited and Of e.
feet, and the said Town and Land Company shall be
and are hereby authorized thereupon to issue to the
sad Paul, Morton Co. or their assigns, new cefti6
Gates for ad forfeited hare sharc parts thereof
shall hA
only true and lawful owners thereof Provided no
share shares or parts thereof shall DO forfeited as
publ he'd In said Sioux City Eagle -.
Article Each whole share shall be entitled to two
votes each halfshare to ono vote and may be rspre
ascment q the affair: q ai said company. ~ -
Article 8. The said company fhaii not be nuthors-
ed to are or collect in any year, than ton
per cent on the amount OF any ono share, part Of
share, for any purpose whatever reasonable notice
whereof to be given as they may deem proper
at the time Of the orasnixae Of raid company shall
belong to the said Paul. Morton Co., their assigns,
and shall DO subject to the came liabilities Is other
shares.
Article lo The said Paul, Morton Co., bind them.
selves their heirs, executors, administrators and Assigns
to and Nth he several and With the said
same is organised in the penal susE of ono thousand
dollars per share and that rate for parts Of share
well aud truly to be made to them their executors nd
CATION il SUCH however, that II the said Paul. uorton
II Co. their assigns shall we'll and truly perform oil
and singular the things hereinafter 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 ad company their hrs
snd assigns by good and sufficient warranty decd. in
fec simple the following described pieces parcels OF
land stustcin the counties Of Sioux, Clay and Palo
Alto, In the State Of Iowa, viz
For saulton City town site or and fri hf Of rec.
T. 95 f. AZ containing 46S l-2 acre. more less;
also the he or Of sec the or Of sec the fri BIZ
OF the or Of 80 the or of 81 T. 9J'R. Al
also the hf of Sc qr II also lot No. L. In sec
~ also the NV Or rs also the hf 20 ar %;
also sw OF Sc sec Is T. 81 4S also hf or sec
IA ehfse Or Is, hf Or and hf fri or 49,
also or IS hf sw Or 80 7. 00 Il. 40 W. also
hf NV Or sec 10 Or II, hf sw or 81 Or
sec FL halfnw ar sec 49, T. &c. K. AZ "; also NV Or
sw k4tea he V IL scc Il =: %. . Y; aisos
hfne or, and ne ar OF fri ar rec rs % 43 W. all
in the county OF Sioux Aforesaid and also hf ne or
and or sec or Of NV or and " hf sw Or sec 3
hi NV q and or Of Or and ne or and nwqa ofnw
Or zoe ar and hf Or sec IS, o., - v; ~
In Clay counfy atom aid and aso the or Of nv Or
sec O. hfn or sec o., X - "; all In Pao Alto
county containing In all four thousand
Of laad smocs az hssa Provided rssd torn and epd
company shall within year from said organization,
donate the following blocks IN raid sutton CITY, for
the following purpose viz: Block 81 for church pur
park block So for hotel block IS for Nssonc pur-
poses Block SO for steam saw MILL block SO fer .
steam Crit N and block Loo for public school pur-
poses. On the performance Of the above conditions
BY the ssid Paul a.ortea Co their sssigns then
this obligation TO be null and void, Otherwise to
remain and 10 In full force sad vstus In Law and
s2uiU. 5.f .4fa la, 50 Il