Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1871-11-14
AND KENTUCKY RAIL
The Contract Between the Company,
the County of Davidson, and the
American Contract Company.

The Contract Between the Company,
the County of Davidson, and the
American Contract Company. +
We give 1elow the terms of contract be-
tween the Edgefeld and Kentucky Railroad
and American Contract Company, which
IS to be submitted to the County Court Tor
ratification to-day: fee .rl
Articles of agreement entered into this day
between the county of Davidson, State of
Tennessee, and its associate stockholders
in the Edgeield and Kentucky Railroad
Company, as hereinafter shown, OF the
first part, and the American Contract Com
pany, party of the second part, witnesseth:
One OF the parties on che first part, to-
wit, the county of Davidson, is the owner
of 5000 shares of stock in said railroad
company, each share valued at $50 per share,
and the whole at the face value of 500, 900,
the other party of the first part, to-wit, the
certain individual stockholders who have
paid their proportion of the first payment
due to the State of Tennessee, are the own
ers Of 1,S00 shares, valued at S25 per share,
at total value of 5000; now these two
parties constituting the first part, do hereby
agree to sell to the party of the second part
all the shares of stock owned by each in
said railroad company, said shares, amount
ing in the aggregate to $500 shares, togeth-
er with all their rights of property, real OF
personal, and their interest in the franchise
estates of any kind, contingent or vested, in
the company of the Edgefeld and Kentucky
Railroad. ..-.......s a.ss q
The party of the second part does hereby
agree to purchase the same upon the follow
ing terms, to wit:
The party of the second part hereby agrees
and contracts to pay off and discharge ac-
cording to its tenor and effect, certain
bond now held by the State of Tennessee
and payable to the said State in the penal
sum of $1,000 900, conditioned, however, to
pay said State by installments 675 bonds OF
said State with specified coupons attached,
and said bond is hereby referred to for a
full description of terms of the same and
adopted as part of this agreement, being
the same executed by the county of David
son and otherS for the purchase Of
said road; to secure the full and
faithful performance by the American Con
tract Company Of the above agree
ment to take up and discharge said bond,
said company agrees to deposit in the Of
fee of the Comptroller of the State Of
Tennessee, 100 bonds of the State of Ten
nessee of like character to those specified
above; and which bonds when deposited,
shall stand and be a security for the faith
full discharge of said first installment, and
the party of the second part shall have the
option, instead Of depOsiting said bonds
as security TO make them an absolute pay
ment in whole or in part, upon said bond,
and said party of the second part agrees to
deposit a similar number of bonds to Sc
cure each of the other installments, after
having paid the one previously due, and
with ike option as given above.
The party of the first part agree and
hereby bind themselves to protect, indem-
nifty and save harmless, the party of the
second part, from all loss or damage by
reason of any recovery at law in any action
now pending, or hereafter to be brought for
any cause or action against the Edgefield
and Kentucky Railroad Company, or such
parties of the first part as owners of the
road, which occurred or shall occur be-
fore the transfer of the stock and prop
erty herein before mentioned; but the
party of the second part hereby agrees and
releases the party of the first part from all
liability for any damage either said American
Contract Company or the Evansville, Hen
dersOn and Nashville Railroad Company
herein have in any way suffered from the
Edgefeld and Kentucky Railroad Company,
but this release is not to extend to the State
of Tennessee, nor to any other party, save
those herein especially excepted, and for
the faithful performance of the agreement
last recited above and to indemnify the
perty of the second part against loss by rea-
son of the suits above mentioned, the party
of the first part agrees to deposit with the
Comptroller aforesaid or in any of the banks
of Nashville to be selected by the party Of
the second part, fifty coupon bonds of the
State of Tennessee of like character to those
specified above, and the same to remain SO
deposited as indemnity and security for the
purpose aforesaid, until all suits now pend
ing have ended, but the withdrawal of said
bonds is not to release the party of the
second part from liability for any of said
suits.
The party of the second part agrees to
pay to the parties Of the first part, at the
time the stock aforesaid and the interest OF
said parties are transferred, and the cash
cost and incidental expenses to them, OF
procuring and paying over to the State the
225 bonds already paid to the State as the
first installment of the purchase money
and interest thereon, prOUided: such cash
cost and expenses and interest shall not ex-
coed 100000; and the party Of the second
part is thereupOn to receive and be substi-
tuted to the credit and receipt of said pay
ment.
The party of the second part further agrees
to pay to the party of the first part for the
stock and interest aforesaid, 225 bonds Ofthe
State of Tennessee, with all due coupons
attached, including such coupons Of July,
1869, said bonds and coupons to be of law
full issue and of 81 900 each.
1t is expressly understood that the subject
purchased by the payment specified, is to be
and include $500 shares of stock in said
railroad company, Of the value of SIS per
share, and also to include all the right, title
and interest which the parties of the first
part have in and to the property, real and
personal, or mixed, of the Edgefeld and
Kentucky Railroad, the road bed, depot
grounds and houses, shops, bridges, iron
rails, stock and all other property of said
road, and also the right of said parties to the
and privileges of said corporation,
and to the debt due from the Evansville,
and Nashville Railroad Compa-
ny, assigned by the State of Tennessee I'M
der the decree made by the Court at Nash
vile. All the payments to be made and Sc
cured within thirty days from the date here
Of, and a lien to be retained on the subject
purchased, and sold to secure all deferred
payments, but no payment to be made be
rOrp tho laUal transfer of the subject mr.
chased.
The parties of the first part do hereby
guarantee to the party of the second part
Ill their right, title and interest in and to
he subject matter of this contract as spec
fed above.
The party of the second part agrees to
'un and use said road as a continuous line
o the Ohio river so long as the Evansville,
and Nashville Railroad is sub
ect to their control.
TSigned1 AMERICAN CONTRACT Co.
Br L. G. SEBREE, Agent.
We, the Railroad Commissioners, ratify
md confirm the foregoing contract as fully
IS we are permitted to do by law.
TSignedl w. A. Glenn, f. II. Childress,
John 5. c. Davidson, B. F. Gleaves.
We, the undersigned cOpurchasers with
Davidson county, who have paid up their
pro rata with said county, hereby fully ratify
md confirm the foregoing contract.
lSignedl E. Cunningham, Geo. Nancy,
4. w. johnson, Jr., J. NJ. Hamilton, J. c.
Murray, Thomas Caldwell, r. G. Weakley,
4. c. x A. B. Beech, Jesse Jordan.
r. G. 8.