The national Republican. [volume] (Washington City [D.C.]) 1866-1870, 1869-12-08

rs.aa ~ a. X Iii ,as.,rn .n, ~ Wv out'r
hen 'h TS Sos So.p my se M snnn,o,
.S,I s,,ut, tSsSa,,a,ns eom ne es wS
q. .hsn supsr,ntsna AZ ,t Improvement made OK
b: nssd * the Sosrd; n ,,v,oun,,,.. .,,u
constitute q working quorum Of such com:
miNse. q, r III, ,, -, ,,.
.hsi nom ,ss &c tin. s.ss, ahfse nsn, not
for this .ssoeiation, and unto whom shall be
.oei..ion o. held thereby Al, Security, There
uu snn Rsmotm tns unUes hne uush
imposed upon mem, end shsll receive com.
Ing that SLOWED By the courts OF this District
:, ART; s1Sso: l.ImProvsmsnt and Sales q
tion shall warrant y, one or more lots, i'm.
proved OF unimRroved, shaI DC purchased By
shsli only be putchssed upon the wsitten ~.
guest oil member who shall obligate himself,
giving sansisctory security TO comply with
an .dvsnee Of as per cent, on tn. actual cost
thereof, and upon ne other terms hereinafter
Ptovideui oiprov'osa, nfe,rthskI, mat At no
proved property, than ssIs per cent. OF the
tunds ~ tne disposai OF the association:
$50. 2; Wheneyer the association shall have
improvement thereof the fact shall be an.
nouneeu, rsunk the NUMBER Of lots and the
proyement At the next occurring, regular
meetine OF tne assoclauon; Al members who
a ss,r 70 procure homs'te.ds shall signify
.helf uesne N WItine, eMuns In general
want. Ths board OF Directors shall then, at
and description. o. houses to s. crested, and
cause the Arcnltect 70 prepare plans And speci-
neanons lot ihe asme: me p isns and .pseih.
ONCE Of the secretary OF the association for
tne Petioa OF we Wesks, ana pids or proposals
10. tnsn esseuon ,nv.su from among the
and addressed to the board OF directors, and
nay 20 LOT tne e.seuoh oi one o. more OF me
hounes p.op0,sea W re puit; AZ we neht iol'
opened and considered In the presence OF q
Suoum % 'no oos'a suu al sne o.auess VINO
snooss 70 ns1a spd Soni h,sn shall &c
aae,s. 20 ~. tio om my Peson no. memoer
onsn ,s,,h ~. ..o,,.smsn,. ~ M ~ seo ooi
sbsiI se entes,.i"ea All eon,r,ctn,. se whcn
re eqs ~ w vosu ", sn Iut-
MN ss.s'so.o.y seeufIy, anu oinu mem.
one Or norsJ and Who shall hold ia !hsi; own
tnn sa,,h ~ ,.s,t VIZ ,is. Oh ~
. ION ~o sun ~ e "a. ho. uSa 10 saeh penal
isNhinl periornsnse OF ali the eonditions OF
mica ~ enne,. 1h.n oVIs S, % re-
Sur - 70, 70 eonu 1 NJ lat ~ posi-
-
ploynent 81 mechanic: and iaborers to the
msmper 20 oit ass9eiauon, niieontia9,s shall
Vgepa.t tor ~ weehiy 2, monnny insanments,
.PPSe ssta,m MI. "a scsnt nr
a.,.,s.s ,ain p,i sh OF eaeh
,1on na .n..n,.p, ~ ne a,a " w nc eompe
s mon ana S oy me ooLa 9I me VOTE
SSonh.i.aetea Lot' UPsh We eVnpteuon o. any
,s s,, sn' ~, % .v'u ~ tne sose '
ne pfes,de e1a sne h f fe ,s meenng o,
Of such buildings shall announce the fact and
inv!e spp,.icAtions theIeIo. ~ price 10 DC
hsed y AIDING ~ per cent 10 ,he actual cost
applicants exceed the number OF houses OF.
fered, or should there DO any choice on &C.
then III. house shall be disposed Of BY lot or
drawing. Should there be no application from
among the members for any property offered
person who will pay one fourth or more OF tho
purchase N oney cash, and the balance on such
terms as the board may deem advisable.
SEC. 8. An property purchased by the men,
bers OF the association shall be paid for, rim.
cipal and interest, In one hundred and enty
monthly in, y, Al Before entering into
81 shall assign 10 he sssoei.,ion or IL rus
tees the amount OF stock held by him, or so
% hs Of ri SHsSs
mands due by him to the associations and all
pronts aoeruing from his said stock shall also
have paid ali claims due the sssocistion; and
II those claims are not paid before the
termination OF the association, he shall then be
PROFITS, which shall be deducted from his in.
| debtedness. The purchaser shall also, before
entering Into possession Of the property, enter
into written agreement with the trustees,
| stipulating for the payment to tho treasurer
| Of a rent, which shall be equal to the ono hun.
dred and twentieth part OF The purchase money
| and interest thereon, the same to be paid In
each and every month. Whoever the amount
Of rent paid In by said member, exclusive Of
equal to rs per cent. Of the principal and inter;
be conveyed BY the trustees to the member, no
| at the same time executing a bond and deed OF
.ss.: ;, s;is t.a:,es, 70 secure further install.
ments 70 pe paid on MS ssid purchase, and TO
secure Al aamnges, tepsirs,taxe easements
lnsurance anu ~ o. ne, ehpenses aeemeu neee''
ssrysnd requisite oy the board OF directors
$50: -. ~ nne mehoer ensas,ns 70 putehhse
prope tx nsYms ns ~ 81 ten, 'ns as make
belofe ptoviueu LOT, ana shaIl remain In de.
iault LOT the space OF three months MS
tenancy ana Az his interest In sag properly
shail cease, aetetmine anu become ioiieited o
the name OF Its trustees, may forthwith re-
enter ana re possess itself OF SAID property,
manner as 10 provided for with respect to the
| SAFE OF properly oy me ASSOCIATION; When pJ
reason OF the deiauit AZ any time OF any mem
Der IN paying the installmcnts due upon ms
| purchase the Msociatteh shAil te,posssss Nseli
o. ne properly. as before provided ior, the
| STOCK OF buch memper signeu As hereihOelore
provided for shall be returned to him; pro-
vided he shall have satisfied all charges
| abhuht nun upoh 'he oooks VI 'ho hhsoeiitloh
on account OF taxes, insurance and expenses,
aud all dues and INES
SIC. D.. No member shall acquire title
Through THIS association TO more than oas
house and lot, under the provisions Of the
constitution, until All other members wishing
homeste,ds shall have been similarly pro
| Videu Tor, and no member may purchase prop
erty exceeding the nominal value OF his shares.
SIC, q. No Improved property shall b" pur'
chased o. house or structure erected Tor any
one member by the association during the hfs'
year OF Its organization at cost exceeding
5000
$40. l. All Interest on account OF purchases
Of property by members from the association
shail De computed at the rate OF one haif OF
one per cent per month anu snail pc charged
only upon the principsl then actually nue.
ART. t-Dspoins.-The board OF directors
may, and are hereby authorized, to receive de-
posits Of moaey from any person or persons
members or not members ofthis associat lou, and
pay Interest thereon, when such deposits shal
amount to one hundred dollars or more, and
made payable after six months from date Of
deposit, on thirty days notice, at rate no,
exceeding six per cent. per annum. They sh al
have power 70 make All needtul regulations 10
conducting this branch oithe business OF III,
association;
ART io-fronn'-All prohts earned by mn
association shall be credited to profit fund
| A OOAp association hoard n