The weekly north Iowa times. [volume] (McGregor, Iowa) 1857-1867, 1858-01-20
HaultOu City,

| ARTICLES OF AGREEMENT BETwE PAUL, MORTON
a CO.. OF DECATUR, BURT COUNTY NEBRASKA TER.
RIToRY, AND THE sHARF HOLDERS of THE MAUI.
TON CITY TOWN AND LAND COMPANY.
Article l. The conn any shall be organized on the
first Monday Of May, A. ~ 1858 at the Office Casa
| day x Clark In Sioux City, Iowa.
Article z. regular account shall be kent OF the
number Of shares sold the amount paid thereon and
the place of residence OF the several shareholders and
list OF said shareholders published month, in
the Sioux City Eagle newspaper published in Sioux
City. Iowa.
Article 3. The Capital Stock of said town and land
company shall consist Of four thousand acres of land
including the town site of Maulon City, the description
OF which will more fully appear hereafter reference lie
ing had also to the diagram Of said City.
Article 4. The said land shall he valued at fifty
thousand dollars which shall be divided into Fifty
whole shares and one hundred half shares tho value
Of which shall be respectively five hundred dollars, and
two hundred and fifty dollars
Aricle5 When any share or part Of a share j. TAX
en- there shall be paid down i'm cash two-fths Of the
amount thereof and the balance shall be paid to Paul
Mourton Co.. or sgns. in three equal annual pay
ment from the date thereof, with interest at ten per
cent per annum. Twenty-Five per cent of the said
twoifths shall be paid to the said Paul Morton Co.
for expense account and the balance shall be deposited
at interest, with such per may be agreed on,
subject to the order Of the Maulton City Town and
Land Company or to be returned to the proper owner
ON failure to organize said company in which case the
.ail twenty-five per cent ha also be refunded One
eth OF the said two-Gtth (to it ten thousand dol
lars the said Maulton City Town and Land Company
shall cxpcnd in improving aid City, and the balance
shall be paid over to the said Paul, Morton Co.. or
Article G. In case the said shareholders or apy Of
them, shall fail neglect to make payment TO raid
Paul. Morton Co. assigns, the with inter
et to be paid annually the said share, shares or
arts thereof the same PRO entation OF the dupl-
cate contract, to the Nauton City Town aud Land
Company after any OF said payments shall become
due shall be by them declared forfeited and of no ef
fect, and the sad Town and Land Company shall tc
and are hereby authorized thcreupon issue to the
said Paul, Morton Il Co. their assigns certii-
Gates for sad forfeited hare share, parts thereof,
and from that time they, their assigns, shall be the
only true and lawful owners thereof Provided no
share shares or parts thereof. shall be forfeited
aore aid unless thirty days notice to that Affect be first
publ bed in said Sioux City Eagle.
Article Each whole share shall be entitled to two
sented ir per.on or by Proxy in writing, in the
agement OF the affairs Of aid company
Article s. The said company shall not be authoriz-
Ell to asses or collect in any ono year, than
per cent on the amount of any share or part Of
share, for any purpose whatever enable notice
whereof to be given as they may deem proper.
Article g. All shares parts of shares not taken at
at the time of the oragnizattn of said company shall
belong to the said Paul, Morton Co., or their assigns
and shall be subject to the liabilities other
Article 10. The said Paul, Morton & Co., bind them
selves their heirs executor administrator and assigns
to and with the several shareholders and with the tad
Maaton City Town and Land Company, when the
same is organized, in the penal sum of thousand
dollars per share and at that rate for parts of shares
well and truly to be made to them, their adj
lninistrators assigns. The condition which obli
CATION IL such, however that il the said Paul. rorton
q Co. or their assigns shall well and truly perform all
and singular, the things hereinafter 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 for the shareholders of aid conn, any, their her
snd 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 Palo
Alto, in the State of Iowa. viz
For .aulton City town site or and fri hf Of sec
L. 90, r. ~ containing 1858 2 acres more or less
also the ne qr Of sect, the ar Of s. the fri hr
OF the sw or OF sec - the ar of 81 T. 95 r. AZ
also the W hf of Or IL also lot No. /. in sec
~ aiso the NV or sec 20 also the Inf or sec 2S
also sw OF sc sec % I. 81 Il As also If Sc or sec
IL Sc or see 10, LII or and hi fri or 90:
also &c or sec 80 hf Or 36 r. 95 X. As W. also
hf NV or sec 10 or H. hf Or rec 81 NV or
sec Il halfnw gr 30 r. o. r. AZ W. also NV or of
hi ne Or and of fri Or 20 + 81 ~ w. all
IN the county of Sioux aforesaid, and also Inf ne ar
and &c or sec sw lr of NV qr and Inf or sec g.
nj NV or and sw Or OF or and or and "a otnw
Ir sec9 ne or and Inf sw or SO 4 o. 35 W: all
N Clay county afore aid and also the ar Of NV or
zee 2. hfne or sec r9i, r 81 W: all in Pao Alto
EQUITY aforesaid containing in all thousand Acres
II land moce Or less. Provided raid town and land
company shall within year from sad organization
ionate the following blocks in said Nauton City, for
ne following purposes, viz Block 81 for church pur-
poses block ~ fer court house block Al for public
lark block SO for hotel block 60 for Masonic pur
loses Block So for steam mill; block IS Tor
team Crit sill and bock lG6 for public school pur
'oses. On the performance Of the above conditions
y the said Paul NJ orion Il Co. their assigns then
his obligation 70 ba null aud void, otherwise to |
emain and be in full force and virtue in law and
'luity.