The weekly north Iowa times. [volume] (McGregor, Iowa) 1857-1867, 1858-03-31
Maulton City.


| ARTICLES OF AGREEMENT BErwE PAUL, MORTON
q CO., OF DECATUR, BURT COUNTY NEBRASKA TER
RIToRY, AND The SHAREHOLDERS THE MAUI
TON CITY TOWN AND LAND COMPANY.
| Article l. The company shall be organized on tn,
first Monday of May, A. 1858 at the office of Casa
| day & Clark in Sioux City, Iowa.
Article 2. regular account shall be kept of tn,
the place Of residence OF the several shareholder, ana
list Of said shareholders published once a month In
the Sioux City Eagle newspaper published in Sioux
Article 8. The Capital Stock of said town and land
company shall consist of four thousand of land
including the town site Of Maulton City, the cptior
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
thousand dollars which shall be divided into ffts
whole shares and one hundred half shares the value
Of which shall be respectively five hundred dollars and
two hundred and fifty dollars
Article 8. When any share part of share l. TAX
en- there shall be paid down in cash two-fths Of the
amount thereof and the balance shall be paid to Paul
Mourton 4 Co.. or assigns in three equal annual pay
ment from the date thereof with interest at ten be,
cent. per annum. Twenty-Five per cent Of the said
twoffths shall be paid to the said Paul Morton Co.
expense account and the balance shall be Deposited
subject to the order Of the Maulton Guy Town and
Land Company to be returned to the proper owner
on failure 70 organize said company in which the
said twenty-five per cent shall also be refunded. One
NTH Of the said two-ffths Ito it ten thousand dol.
lars the said Maulton City Town and Land Company
shall expend in improving said City, and the balance
shall be paid over to the said Paul. Morton Co. OF
! their order.
Article g. In the said shareholders or any OF
them, shall fail or neglect to make payment said
Paul, Morton q Co. assigns, the amount with inter-
est, to be paid annually the said SHARE shares or
parts thereof the same entation OF the dupi-
cate contract, to the aulton City Town aud Land
Company after any Of said payments shall become
due shall be by them declared forfeited and of no ef
feet, and the said Town and Land Company shall be
and are hereby authorized hereupon, to issue to the
said Paul. Morton Il Co. their assigns, certi-
Gates for aid forfeited hare, hare, parts thereof
and from that time they, or their assigns, shall be the
only true and lawful owners thereof Provided no
share shares or parts thereof shall be forfeited as
aforesaid unless thirty days notice to that affect be first
publ bed in said Sioux City Eagle.
Article Each whole share hall be entitled to two
votes each half share to vote and may be
sented in person or by proxy in writing in the
agement OF the affairs OF said company.
Article g. The said company shall not be authoriz-
ed to assess or collect In any year, than ten
per cent on the amount of any share, part Of
share, for any purpose whatever enable notice
whereof to be given rs they may deem proper
Artcle9 Q. All -hares parts of shares not taken ct
at the time Of the Organization Of said company shall
belong the said Paul. Morton Co., or their assigns,
ana shall DO subject to the same Liabilities rs other
shares
Article 10. The sad Paul, Morton 4 Co., bind them
selves their heirs executors, administrator and assigns
to and with the several shareholders and with the said
Mac'ton City Town and Land Company, when the
ss.ue Is organized, in the penal sum of thousand
dollars per share at that rate for parts of shares
well and truly to be made to tem their executors ad
ministrators or assigns The condition of which obi
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 the organization OF the Maui.
ton City Town and Land Company convey to them in
trust for the shareholders of said their heir
snd assigns by good and sufficient warranty deed in
fee simple the following described pieces parcels Of
land situate In the counties of Sioux Clay and Palo
Alto, In the State Of Iowa, Wig:
For aulton City town site Or and fri hf of
T. 05, r. W. containing 46S IL acres more or less
also the no ar OF sec the Of g. the fri hf
OF the sw or Of 80 the or Of 81 T. % r. Al
also the hf of ar IL also lot No /, in sec
% also the NV or sec rs also the Inf or sec %
also sw OF 2S +. "a X 48 also hf SO ar sec
II ehfs or sec Is, Inf or aud hf fri or sec 3d.
also SO Or sec % hf or 80 T. 95 r. As W; also
hf NV or sec 10 NV ar sec II, hf Or 81 Or
sec ~ halfnw or sec 49, 86 X. Al "; also Or Of
wv Ia SEQ ", IL sc Ia Fl T. &c. As W; also
hfne ~ and ne Or Of fri or sec rs % 43 all
and &c or sec sw Or Of Or and Inf or sec 3,
Int NV ar and sw or Of or and or and NV % ofnw
or sec9, ne Or and hf or 80, 95, IS "; all
in Clay county AZORES aid and also the or of or
sec 2 hfne ar 8 + 94, X "a W; all in Palo Alto
county aforesaid containing in all four thousand acres
Of land, moee less Provided faid town and land
company shall within year from said organization
donate the following blocks in said Naulton City, for
the following purposes viz: Block "a for church pur
poses block AZ for court house block 46 for public
park block sc for hotel block 50 for Masonic pur-
poses Block SO for a steam saw mill; block IS for
steam Grst Mill and block LOG for public school pur.
poses On the performance OF the above conditions
~ the said Paul. morton Co. their assigns then
ibis obligation to be null and void, otherwise to
remain and b In full tcrcs and virtue in Law and
squity.