The weekly north Iowa times. [volume] (McGregor, Iowa) 1857-1867, 1858-01-06
ATKINS & STEELE.
Maulton City.

ARTICLES OF AGREEMENT BErwE PAUL, MORTON
| N CO., or DECATUR, Burt COUNTY NEBRASKA TER
| RiToRY. AND TIiE SHAREHOLDERS OF THE MAUI.
TON CITY TOWN AND LAND coMpANF. ..
Article l. The conn any shall lie organized on the
ir Monday Of May, A. ~, 1858 ut the Office Of Casa
| day & Clark in Sioux City, Iowa.
Article 2 A regular account shall be Kept OF the
number of shares sold the amount pad thereon and
the place Of idence OF the several shareholder, and
iit Of said shareholders published month, in
the Sioux City Eagle newspaper published III Sioux
Article g. The Capital Stock of said town and land
company all consist of four thousand of land.
including the town site OF Mauton City, the de crpon
OF wica will more fully appear hereafter reference be
ing had also to the diagram Of said City.
Article T. The said land shall be valued a. 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 dollar and
two hundred aud fifty dollars.
Article 8. When any share part of share is TAX
en- there shall be paid down in cash tw0ifths Of the
amour. thereof and the balance shall be paid to Paul
Mourton 4 Co. assigns in three equal annual pay
nlent from the date thereof with interest per
cent per aunuEl. Twenty-Five per cent OF the said
twoGfths shall be paid to the said Paul Morton Co..
for expense account aud the balance shall be deposited
at interest. with SUCH Porous may be agreed
subject TO the order Of the Mauton City Town and
Land Company he returned to the proper owner
OH failure to organize said company in which the
aid twenty five per cent hall also be refunded. One
fifth Of the said two-ftth'. 20 it ten thousand dol
lars the aid Mauiton City Town and Land Company
shall cxpend in improving said City, and the balance
shall be paid over to tho laid Paul, Morton Co..
| their order.
ArticioJ6 In case the said shareholders or any of
them, shall fail or neglect to MAKE payment to SAID
Paul, Morton Co. assigns, the amount with inter
ct, to be paid annually on the said share, .harcs
arts thereof the Same presentation OF the dupli-
cate contract, to the Maulton City Town aud Land
Company after any OF raid payments shalt become
due shall be by them declared forfeited and of ef
feet and the said Town and Land Company sall be
and are hereby authorized thereupon to issue to the
said Paul, Morton Il Co. their assigns, ccrtif-
for said forfeited share shares or parts thereof
asSion shall be ne
only true and lawful owners thereof. Provided no
share share. or parts thereof: shall be forfeited as
aforesaid unless thirty days notice to that affect be first
publ he'd in said Sioux City Eagle @s$-
Article Each whole share shall be entitled to two
votes each half share to one vote and may he repre-
sented IN person or by proxy ia writing, in the man
| agement of the affairs Of fad company.
Article 3. Thesaid company shall not be authoriz-
ed to asses OF collect in any more than ten
Per cent ON the amount of any share, part Of
STARE, for any pnrpoe whatever reasonable notice
whereof to be given as they may deem proper.
Article 9. All shares or parts Of shares not taken at
at the time of the oragnnatitn of said company fha
belong the said Paul, Morton Co., or their assign
and shall be subject to the same liabilities other
shares. =a ~ E#N
Article 10. The said Paul, Morton & Co., bind them
selves their heirs EXECUTOR admin and signs
to and with the several shareholders and with the sad
Mauton City Town and Land Company, when the
same is organized, in the penal of thou and
dollars per hare and at that rate for parts of shares
well and truly to be made to em their executors ad
ministratcrs or assigns The condition of which obi
CATION such however, that If the said Paul, rorton
Go. or their assigns shah 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 the organization Of the Maui
ton City Town and Land Company convey to them in
trlst for the shareholders OF said company their heir
sid assigns by good and sufficient warranty decd in
fee simple the following e:cribed pieces or parcels OF
land situate in the counties Of Sioux Clay and Pao
Alto, in the State Of Iowa. viz:
For "aulton City town site Ir ard fri hf of sec.
t. 90 H. ~ w. containing 4GS i-2 acres or less:
al-o the he Of sec7 the of g. the fri hf
OF the Or of 50 the or of 81. T. 9j II. AZ
W al o the W lf of or ii also lot No /, in sec
~ also the or sec 20 ALTO the Inf Sc qr rec 2S
also sw OF % T.94 Il As also hi &c or sec
IA chfse or Is, hf Or and hf fri Or 90;
also &c or sec 50 hf sw or 3G II. % r.. As al,o
ht NV qr rec 10 or sec II. Inf or 2l ar
see u hall NV ar % r. o. r. ~ also ar of
sw II seq ~, IL re Ia y =. 95, a. W. altos
htne ar, and IT Of fri or IS I 95 i3 w. all
and ar sw or Of or aud hf sw Or sec 3,e
hf NV lr and or Of or and or and ga ofnw
Ir sec9, Or and If or SO, I 95, IS ": all
IN Clay county aforc AID and also the or of ar
sec z hi ne 3 4 81 IL "a ell in Paio Alto
county afores aid containing in ali four thousand
of land moes or less. Provided sa!d town aud land
company sha within from said organization,
donate the following blocks in sii aulton City, for
the following purpoae, viz: Block "a for church pir-
poSes block AZ for court house block Al for public
park block So for hotel block GS for Masonic pur-
steam Gr will and block loo for public school pur-
poses. On the performance Of the above conditions
by TIE said Paul aorton d. Co. or their assigns then
| this obligation to he nul and void, otherwise to
remaia and 10 in full! free GSd virtue in law aud
equity.