The weekly north Iowa times. [volume] (McGregor, Iowa) 1857-1867, 1857-12-09
Maulton CITY.

ARTICLES OF AGREEMENT BErwE PAUL, MORTON
* CO., DECATUR, BURT COUNTY NEBRASKA TER
RlToRY, AND THIS sHAR HOLD RS OF The MAUI.
TON CITY TOWN AND LAND COMPANY. ga.
Articc1. TIE conn any shall be organized on the
rt Monday of May, A. -, 1858 at the Office OF Casa
day & Clark in Sioux City, Iowa. .....
Article 2. regular account shall be kept Of the
number of share sold !; the paid thereon, and
the place of idcnce OF the several shareholder and
q 1T Of sa,d sharehoiders published once month, in
City, Iowa.
Article 8. The Capital Stock of said town and land
company shall nsst of four thousand acres of land
including the town site Of Maulton City, the description
of which will more fully appear hereafter REX renee be
ing had alo to the diagram Of said City.
Article 4. The said land shall be valued at fifty
thousand dollar which shall he divided into fifty
whole share and one hundred half shares the value
of which shall be respectively five hundred aoar and
| two hundred and fifty dollars. d. .-y-z
Article 5. When any share part of share is TAX
en- there shall be paid down in Gu twoffths Of the
amount thereof and the balance shall be paid to Paul,
Mourton tc Co. assigns in three equal annual pay
ment from the date thereof with interest at ten Fer
| cent rer annum. Twenty-Five Fer cent ct the said
two-ffths shall be raid to the aid Paul Morton Co.,
for expense account and the balance shall be deposited
at intere t, with uch onS as may be agreed on,
subject to the order Of the Maulton City Town and
Land Company, to be returned to the proper owner
on fa ura rganze said COM any in Which the
aid twenty five Icr cent hall also be refunded. One
Of Of the aid two-Gfh Ito 1t: ten thou and dol
| shall exIend in inn rowing aid City, aud the balance
shau be raid over to the said Paul, Morton & Co. CT
| the order.
Article g. In ca e the said shareholders or any Of
them, hall fail neglect to make ravment to said
Paul, Morton Il Co. or sign, the amount with inter
TO be paid annually on The aid hare, hare Q,
| cate contract, to the aulton C.ty Town and Land
Com any after any Of aid payments hall become
due hall he by them declared forfeited and of no ef
feet. and the sad Town and Land Comra ny hail he
and hereby, authorized thereup TO issue to Tho
| aid Paul. Morton Co. or their a ign, new cerdii
Gates for aid forfeited hare, hare or part thereof
| 4
only truo and lawful owncr thereof. Provided u,
share share! Parts thereof. hail be forfeited a
afore aid une thirty day notice to that affect be fir
| publ he'd ia said Sioux CT Eagle
Article I En- III whole hare hall be entitled to twt
vote each half hare to one vote and may he repre-
| sented in pcr or by proxy in writing, in the man
| asement of the affair of aid com any.
| Article 8. The aid conn any hall not be authorz
ed to collect in any year, than tel
Ter cent on the amount of any one hare, part Of
hare, for any rurpoe whatever rea enable notic
whereof to be Given "a they may deem proper.
Article o. All hara3 or farss of shares not taken O
at the time Of the oraan zai Of aid company shall
teo7g TO the aid Paul, Morton & Co., their sign
and hall be subject to the liabilities othe
hares
Article" The said Paul. Morton d Co., bind them
eve Their heir executor admiai tra.er and a sign
to and with the roveral hareho.dcr and with the sal,
I3lltDn City Town and Land Company, when TIN
anne is organized in the penal sum of one thou AM
do!iars per hare and at that rate for part5 of hare
mn.-traor* or as-igrs. The condition OF which obj
ra'ion l. such, however that Il the aid Paul, ortol
K Co. or their assigns shall well and trely perform al
and singular, the thnr' herenaf forth for then
to do and perform, according TO the true intent an
meaning hereof and the organization OF the Ma u
ton City own and Land Com any convey to them j
trust for the shar holders Of aid comrany their her
md assigns by good aud sufficient warranty decd, il
fee simplc the following de scrbod pieces parcel Q
land situate in the counHcSo o. Sioux Clay, and Pal
| Alto, in the State of Iowa, viz .. e..
For anton City town lite or and fri Inf of rec
r. 25, r. a. W. containing 4GS l-2 acres Or Les
al the Or Of zee = the Or Of s. the fri b
OF the pr 80 the or OF sec 81, 4. 9j II.
W alfo the hf of or IL al lot No. l, in
% also the or &c 90 al the hf se or g
al Sw OF sc see % 7. 81 II 4S W; al hf or Sc
Il Inf SO Or zee Is, hf or and hf fri %
also or 81 W bf wv 3S I. 95 X. 4s al
If NV Or sec 10 NV or II. hf or 81. q
y hall NV or %, 8. o. Il. a W; al or G
hfne Or and ne Or of fri or sec rs 1 81 Il 43 al
i'll the county Of Sioux aftre ail and al hf q
ana sc Or sec w or of NV or and w inf Or sec 3,
hf NV or and or of or and or aud ga OF N,
II Seq, or and W f Wv or 33, 4 95. r a5 W; al
in Clay county aforc aid and also the or OF NV q
&c . hfne Gr sec 3 81, II "a W: all in Pa'o Alt
county af0re aid containing in all four thousand acre
| Of land moee Or less Provided said town and Ian
company shall within year from said organization
donate the following blocks in aid aulton City, 10
the following purro e. viz: Block 81 for church pur
pc e block AZ for court hou block As for publ
park block 81 for hotel block 6s Tor asonic pur
| team Gri y i'll and block 1J6 for public school pur
DO e. On the Performance of the above condition
by the aid Paul ,orton & Co. their assigns theI
| this obligation TO be null and VOID, otlerwi t.
remain and lie in full force and virtue in law an
| equity. E-.sf ..... .t--..-s