The weekly north Iowa times. [volume] (McGregor, Iowa) 1857-1867, 1858-04-21
MaultOn CITY.

ARTICLES OF AGREEMENT BETwE PAUL, MORTON
CO., OF DECATUR, BURT COUNTY NEBRASKA TER
RlToRf, AND The SHAR HOLD RS OF THE MAUI.
TON CITY TOWN AND LAND COMPANY.
Articlel The conn any hall be organized on the
first Monday Of May, A. 1858 at the Office Of Ca a.
day Clark in Sioux City, Iowa.
Article z. regular account shall be kept Of the
number Of share soid the amount paid thereon, and
the place of re dence OF the several shareholder and
lit Of said shareholders publ he'd once a MONTH in
ths sioux City Eagle newspaper published in Sioux
Article 8. The Capital Stock of said town and land
company shall con it of four thousand of land
including the town site OF Mauton City, tho dc crptio
OF which will more fully appear hereafter reference be
ing had also to the diagram OF said City.
Article 4. The said land shall be valued at fifty
thou and dollars which shall be divided into fifty
whole shares and one hundred half shares the value
Of which shall he respectively five hundred loar and
two hundred and fifty dollars.
Articles. When any share or part of a share Is TAX
en- there shall be paid down in Gu twofths Of the
amount thereof and the balance shall be paid to Paul
Mourton 20. or assigns in three equal annual pay
ment from the date thereof with interest at ten per
cent. per annum. Twenty-Five per cent OF the raid
two-fths shall be paid to the aid Paul Morton & Co.,
for cxpene account and the balance shall be deposited
at interest, with such Ter ons may be agreed on,
subject to the order of the Maulton City Town and
Land Company, to be returned to the proper owner
ad twenty five per cent hall also be refunded One
fifth Of the said two-fh, Ito it ten thouand dol
lars the aid Maulton City Town and Land Company
shall expend In improving said City and the balance
Their order
Article 8. In case the said shareholders or any OF
them, shall fail or neglect to make payment said
Paul. Morton d Co. assigns, the amount with inter-
est, to be paid annually the said share, hares or
art thereof the lame on Pre- entaon OF the dupli;
Company after any Of raid payments shall become
due shall be by them declared forfeited and of cf-
feet, and the said Town and Land Company shall be
and arc hereby authorized thereupon issue to the
said Paul, Morton Co. their assigns new ccrtifi-
Gates for sad forfeited hare hares parts thereof
and hat tI,,v r..
only true and lawful owners thereof. Provided no
share share. or parts thereof. shall be forfeited
unless thirty days notice to that affect be FIRST
publ he'd in said Sioux City Eagle.
Article Z. Each whole share shaL be entitled to two
votes each half to one vote and may be repre-
agemen. Of the affair: Of a ala company ' - 'A' A'
Article 3. The said company shall not be huthoriz-
e to Or sasis y one or part sn q
share for any purpo.e whatever rea enable notice
whereof to be given as they may deem proper.
Article ~ All shares parts Of shares not taken at
ut the time Of the Organization of said company shall
belong to the said Paul. Morton Co., their assigns
and shall be subject to the same liabilities as other
shares
Article ~. The said Paul, Morton & Co., bind them
selves their heirs executor, administrator and signs
to and with the several shareholders and with the said
Marton City Town and Land Company, when the
sane is organizcd in the penal of one thou and
dollars per share and at that rate for parts share
well and truly to be made to Lem their executors ad
mini TRAITORS or asst gins. The condition Of which obi
CATION is such, however, that ii the said Paul. orion
Co. their assigns shal we'll and truly perform all
and singular the things hereinafter set forth for them
to do and PERFORM according to the true intent and
meaning hereof and on the organization OF the Maui
ton City Town and Land Company convey to them in
trust tor the shareholders said any, their heir
sud assigns by good and sufficient warranty deed in
fee simple the following described pieces or parcels OF
land situate IN the counties OF Sioux Clay and PaIo
Alto, in the State Of Iowa, viz:
For aulton City town lite or and fri hf of Sec
T. Us, II. AZ W. containing 46S IL acres less
also the Or Of sec the Or of s. the fri hf
OF the Or Of 80 the or of 81 T. 95 Il. Il
also the hf of or II al.o lot No. l. in sec
~ also the NV Or &C 20 al the hf &c or 2S ;
also sw Of rs I. "a Il 4S al hf So or sec
IA hse or sec -, hf re or and hf fri or 49,
also Sc Or 80 hf or 80 7. 90 X. As W; also
hf NV or sec 10 NV Or ii, hf or 81 or
sec n. hafnw ar 90 90 II. II "; also or OF
hfn ~ and Or of fri Or IS 95 43 w. all
in the county OF Sioux aforesaid and also Inf or
and &c Or sec or Of NV or and W hf or 8,
Inf NV or and sw or Of NV or and ne and otnw
Or sec9 or and " Inf or SO, L 95, IS W; all
in Clay county afore aid and also the or of ar
sec 2. hfne sr sec o., X "a vi all in Palo Alto
county afore aid containing in all four thousand
Of land moee less. Provided aid town and land
company shall within year from said organization,
donate the following blocks in said aulton City, for
the following purposes, viz Block "a for church pur-
poses block ~ for court house block 46 for public
park block 81 for hotel block Is for asonc pur-
steam Grit Will and block 100 for public school pur-
poses. On the performance VI the above conditions
~ the sad Paul orion q Co. their assigns then
his obligation to be null and void, otherwise to
remain aud DO IN full force and virtue in Law aud
equity.