The north Iowa times. [volume] (M'Gregor [i.e. McGregor], Iowa) 1856-1857, 1857-10-07
Maulton CITY.

! ARTICLES OF AGREEMENT sErwE n PAUL. MORT, y
800, ." of Decatur nrRr COUNTY NEsaAsKA 1IH-
TON CITY TOWN AND LAND COMPANY.
Article J. The comI asy shall be oryanized on the
FIRST Monday of May, A. o., 1858 at the Office Of Casa
day Clark in Sioux City, Iowa.
Artice z A regular account shall be kept Of IL Q
number of shares sold the amount paid there o. and
the place of residence OF the several shar. holder and
list OF said shareholders published once month"; in
City, Iowa.
Article g. The Capital Stock of said town and land
company shai consist Of four thousand land,
lhcuang the town site Of Maulton City, the description
OF Which VIII more fully appear hereafter reference be-
ing had also to the diagram of said City.
Article T. The said land shall be valued at 6fty
thousand dollars which shall he divided into fifty
whole share; and one hundred half shares the value
OF winch shall be respectively five hundred dollar, and
two hundred and fifty dollars
Article 5. When share or part Of share I. TAX
en- there shall be paid down in cash twoGfths Of the
amount thereof and the balance shall he aid Paul
Mourton Co. or assigns in three equal annual p =.
ment from the date thereof with interest at ten Ter
cent Ter annum. Twenty five rcr cent Of the said
two1ths shall be paid to the sad Paul Morton Co..
1or expense account and the balance shall be depoed
a. interest with such per ons as may be agreed on
suhJect to the order of the Maulton City Town and
Company or to be returned to the proper owner,
Oh ahuEs 10 organize said company in which the
sald twenty-five per cent hall also be refunded One-
NTH Of the said twoffhs. Ito it ten thousand dol
Jar the said Naulton City Town and Lan6 Company
al exrend in improving said City, and the balance
Their order
Article q. In the said shareholder. or sny OF
them, sha'l fiji or neglect make payment to sa;d
fau Morton Il Co. assigns, the amount with inter-
e., TO DC paid annually the said sharc, shares or
cate contract, to the Naulton City Town md Land
company affer any Of said payments shall become
due shall be by them declared forfeited and of no e.
rect, ana the sad Town and Land Company shall be
ana are hereby, authorized to issue to tho
said Paul, Morton Co. their assigns new certi6.
a lor ad forfeited share .hares parts thereof
abr gsu hall b. kkA
only true and lawful owners thereof Provided No
mare shares or parts thereof shall be forfeited -
publ he'd in said Sioux CT Eagle.
Article Psch whole share hall be entitled to two
eaen nall share to one vote and may be repre-
agen' en- Of the affairs Of aid company
Article =. The said company shall not be authors
Gu 20 or collect in any year, than ten
snare, tor any purpose whatever. Iea enable notice
whereof to be given as they may deem proper.
aess Al shares or parts Of shares not taken at
the time q the cracn:zati' OF said company sha
belong to the aid Paul. Morton x Co., or their assigns.
shares.
Article 10. The said Paul, Morton 4 Co., bind them
selves their heirs, utor administrator and gns
20 ana with the several har holders and with the sad
sann 70 .nty Town and Land Company, when ths
same Is organized, in the penal rum Of thou.and
dollars per share ard that for rnrts OF ehares
wen ana truly to be made to them their executors ad
illustrators or assigns The condition Of which obi
CATION SUCH however, that if the laid Paul Norton
Co. or their assigns shall well and truly perform all
ana the things hereinafter set forth for them
70 10 ana 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 LOT the shareholders Of said com any, their heirs
ina assigns by good and sufficient warranty deed in
Zee simple the following described pieces or parcels Of
iad situate In the counties of Sioux Clay, and Palo
Alto, In the State Of Iowa. viz:
For anlton City town rite sc ar and fri hf Of rec
-, H. ". containing 46S l2 acr,s, more or less;
also the ne Or OF rec the or Of sec 8, the fri hi
OF the sw Or Of 80 the ar of sec 81 T. o. r. II
also the nj Of Sc or sec IL also lot No. l. In
.. also the nv Or sec 70 also the If sc or zee %;
sfo sw or sc sec % T. % 4S also hf &c ar go
~ ehfse or sec Is, hf or and hf fri ar FEC c3
also re or sec 80 Inf sw 36 r. 95 r. IS "; also
"a, II" qr sec 10 NV Or sec II, If or rec 81 Or
rec haifnw ar sec 90, T. 90, r. ~ "; also NV or or
- SEQ -, IL Sc Ia sec 81 \. 90, As "; also
M ne Or and ne or Of fri or sec Is 9s AZ y: all
in the county Of Sioux aforesaid, ana also nj ne az
ana &c ar sec wv or Of Or and hf sw or sec g.
III NV or and sw or Of Or and or and NV "a
or sec9, he or and hf or sec So 95 X IS "; all
IN Gay county afore aid and also the w ar Of NV ar
sec Z hi he or sec "a. 81 W: all in Palo Alto
county AFORESAID containing in all four thousand
OF land moec or less. Provided said town and land
company snail within one year from said organization,
uo'..e the following blocks in raid auton City, for
the following purpo'es viz: Block 81 for church pur.
Poes block ~ for court house block 10 for public
PARK block OF for hotel block CO for Mas onic pur
pores Block 81 for steam mill: block IS for
steam Grt Mil and block loo for public school pur
pose. On the performance If the above conditions
~ TIE aid Paul Norton Co. or their as igns then
ths obligation to be null and void, otherwise to
remain and lie in full force and virtue in law aAd
equity.