The weekly north Iowa times. [volume] (McGregor, Iowa) 1857-1867, 1858-02-03
ATKINS & STEELE.
Maultou CitY.

ARTICLES OF AGREEMENT BETWEEN PAUL, MORTON
CO., OF DECATUR, BURT COUNTY NEBRASKA TER
RfroRy, AND THE SHAREHOLDERS OF THE MAUI
TON CITY TOWN AND LAND COMPANY.
Article1. The company shall be organized on the
first Monday of May A. D., 1858 at the Office of Casa
day Clark. in Sioux City, Iowa.
Article 2. regular account shall be kept Of the
number of shares sold the amount paid thereon and
the place of residence OF the several Shareholders
list Of said shareholders published month, in
the Sioux City Eagle newspaper published in Sioux
Articles. The Capital Stock of said town and land
company shall consist Of four thousand acres Of land
including the town site OF Maulton City, the description
OF which will more fully appear hereafter reference be
ing had also to the diagram Of said City.
Article The said land shall be valued at fifty
thousand dollars which shall be divided into fifty
whole shares and hundred half shares the value
of which shall be respectively five hundred dollars and
two hundred and fifty dollars.
Articles When any share part of a share is TAX
en- there shall DO paid down in cash twofths Of the
amount thereof and the balance shall be paid to Paul.
Mourton & Co.. assigns In three equal annual pay
from the date thereof with interest at ten per
cent. per annum. Twenty-Five per cent Of the said
two-fths shall be paid to the said Paul Morton Co.,
for expense account and the balance shall be deposited
at interest, with such persons may be agreed on,
subject to the order Of the Maulton City Town and
Land Company or to be returned to the proper owner
failure to organize said company in which the
said twenty-five per cent shall also be refunded. One
fifth Of the said two-fths, Ito wit: ten thousand dol
shall expend in improving said City and the balance
shall be paid over TO the sold Pasl, Morton Co., or
their order. @
Article g. In case the said shareholder or any of
them, shall fail neglect make payment to said
Paul. Morton 4 Co. or assigns the amount with inter-
est TO be paid annually the said share, shares
cate contract, to the Maulton City Town and Land
Company after any Of said payments shall become
feet, and the said Town and Land Company shall be
and are hereby authorized thereupon to issue to the
said Paul, Morton Il Co.. their assigns certi6
for ,s s share o. parts ss
only true and lawful owners thereof Provided no
share shares or parts thereof shall be forfeited
aforesaid unless thirty days notice to that affect be first
publ he'd in said Sioux City Eagle.
Article Each whole share shall be entitled to two
votes each half share to one vote and may be repre-
agement of the affairs Of said company. : l4.@f
Article 8. The said company shall not be authoriz-
ed to collect in any year, than ten
per cent on the amount OF share, part OF
share, for any purpose whatever reasonable notice
whereof to be given as they may deem proper.
at the time Of the oraynxation Of said company shall
belong TO the said Paul, Morton Co., their assigns
and shall be subject to the Liabilities rs other
shares
Article 10. The said Paul, Morton Co., bind them
selves their heirs executors administrators and assigns
to and with the several shareholders and with the said
same Is organized In the penal sum of thousand
dollars per share and ut that for parts Of shares
well and truly to be made to them their executors ad
illustrators assigns. The condition of which obi
CATION Is such, however, that ii the said Paul. Morton
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 tho organization of the Maui
ton City Town and Land Company convey to them in
trust for the shareholders Of raid company, their heirs
snd assigns by good and sufficient warranty deed. In
fee simple the following described pieces parcels
land situate In the counties of Sioux, Clay, and Pao
Alto, in the State of Iowa, viz: rs4s ss
For Naulton City town site qr and fri hf of
I. So, r. AZ W. containing 466 LIZ acres, less;
also the ne or OF sec the Of 8, the fri hf
Of the Or of 80 the or of 81, H. 95 X. ~
also the hit Of or IL also lot No !, in sec
% also the or 20 also the hf SC or 20
also sw OF sc %, L. 81 Il 4S also Inf or
IA ehfse Or l5, hf or and hf fri or %;
also sc or sec 80 hf or SO T. 95 Il. As WI also
hf NV or sec 10 nv az H. hf or q. or
II. halfnw or 49, T. 96, r. Al WI also ar Of
sw Ia SEQ %, IL Sc IA 81 r. SO, As W. also
hf me Or and qr Of fri or rs, 96 As all
and &c or sec sw ar Of NV or aud W hf or B.
ar sec9, Or and hf ar 33, 95, IS W; all
in Clay county aforcsaid and also the or Of or
sec 2 hfne Or g. I o., II 81 W. all in PalO Alto
county aforesaid containing In all four thousand acres
Of land moce or less Provided said town and land
company shall within year FROM said organization,
donate the following blocks in raid haulton City, for
the following purposes, viz: Block "a for church pur-
poses block AZ for court house block 40 for public
park block SO for hotel block 6S for Masonic pur-
poses Block Sc for steam MILL block So for a
steam Grst Mill and block log for public school pur-
by the said Paul Morton Il Co. their assigns then
this obligation to be null and void, otherwise to
remain and be in full force and virtue in law and
equity.