The Saline County journal. [volume] (Salina, Kan.) 1871-1893, 1873-08-21

1
bridges, put on the rails and have 90 completed
the road that it can be operated from the south
boundary line Of the said county OF Saline to
the town of Salina, then said trustees shall
deliver to said party Of the first part the further
| amount Of fifty thousand dollars Of such bonds,
and the remaining sum Of fifty thousand dol
las to be delivered to the said party Of the first
part. ON the completion and operation OF the
| road through the said county of Saline. But
| no bonds issued to the said party OF the first
part shall draw any interest prior to the date
fixed In the certificate Of the Governor determ-
| lining that said read has been properly graded
and the masonry completed to the town OF Sa-
lima, which date thus fixed shall DC the date OF
accruing interest on the bonds; Proridcd that
in case the said party Of the first part or his
assigns fail to complete said road In the man
ner and within the time specified in this con-
tract. then and IN that event tile said party OF
the first part shall be deemed to have forfeited
and shall forfeit any and all rights and interest
he may lave in and to said county bonds. by
virtue of this contract and said trustees shall
return such bonds of the said county Of Saline
to the treasurer of said county Of Saline, ac-
cording TO the tenor and effect Of the PROPOSE
ton voted for by which the bonds Of the said
county Of Saline. to the amount of one hundred
aud fifty thousand dollars. were voted to the
said party Of the second part to aid in the con-
structiOn of said road. and to which PROPOSE
ton reference is hereby had for greater ccr-
+. Woollcy. and L. j. +. Hanna. Of the pres
ent board Of directors of said railway co;npa-
nv. shall see fit to extend the time for the
completion Of said road. Or any part thereof.
rs stipulated in this contract And in case SUCH
bonds or any part Of them are thus forfeited
BY reason OF the nOn-perfOrmance by said first
party of his agreement with the sail second
party. such forfeiture shall be held and deemed
to include both principal and interest OF such
bonds SO forfeited. The said party OF the sec
ond part agrees to issue and pay over forthwith
to the sid party of the first part. eleven hun
dred thou. ,nd dollars tSl,l0O!ooo) OF PAID up
stock OF said Republican. SaliDa & Arkansas
Valley Railway Company, also seventeen thou
sand dollars per ME- Of road constructed UNI
der this contract Of the bonds Of said Rcpubli-
can, Salina g. Arkansas Valley Railway COmpa-
ny. said bonds to run thir::. years from the
date OF issue. and to be secured ~ first mort
gage on the road herein provided 10 be built.
Said bonds shall draw interest at the rate Of sew
en- per cent. per annum. payable semi-anhi!a-
~ In the city OF New York. As additional pay
men: for the construction rs aforesaid OF sald
road. the party of the second part agrees to Is.
sue its bonds to the party of the first part and
secured by a mortgage on said road. SO agreed
to he built. in the amount of three thousand
dollars per mile of said road. which mortgage
shall be lien on said road SO agreed to be built
aud all its franchises appurtenances. next to
the first mortgage hcncinbcforc agreed 10 De Is
si,cd. Said bonds shall bear the same date. rate
of interest. and run the same time as the bonds
hereinbefore agreed to issued to the party of
the first part And it is further stipulated that
said last mentioned bonds shall contain cove
nant To the effect that the principal of said
bonds shall be due and payable, upon failure
to pay the interest coupons or any part t'Irre0
when due and the holders of said bonds shall
have the right to proceed 10 :1rec!osc the said
mortgage upon such failure to nay interest Tor
the principal aud interest on sai,s bends. and
said mortgage shall contain also a waiver OF all
benefits of the appraiSemcnt laws. The sar'
party Of the first part shall ply all interest that
may accrue on said mortgage bonds before said
road shall he completed and in operation. and
said party of the second part shall pay all in
terest which may accrue after said road IS com
pletetl and i'm operation rs hr-einJefore prOvid-
/ ell. As further consideration the said party
of the first part shall have and b: entitled 10
all further lOnds and other franchises which
may bc secured from the slid county OF Sa-
| line. in the name OF the said party OF the sec
Ond part over and above the county bonds first
named herein. The party Of the first part
shall pay for preparing and registering said
bond and mortgage. The SAID county bonds
shall be executed within ninety days from the
late hereof. and placed in tnv lands oil WINS
| low, Ianicr L. Co, bankers o: the city Of New
York. to he by them delivered TO the said par
;y ofthe first part, subject TO the conditions
upon which said bonds were voted. Said hrs:
mortgage bonds shall ne tOrtNwl'n dcposNec
with ". A. simpson. president OF the Dana Vi
Simpson Bros. 1T f5awrcnce. KANSAS, withau-
thorty 10 issue anu deiiSeT me sau oonas
bonds 10 me parry OF the nrst part. as the
WORK Herein contracted 10 ne done shaii pro,
Sress. IS IN tie Judgment OF 'aid simpson snail
Dc eNpedient and safe win reference 10 tne
progress ot the work. anu III" security OF lis
complexion. SAID party of me hrst part anu
his assigns as further consideration Oh tne
ROAD herein provided 10 oe D'iii,' anu ior the
rates hereinafter 10 he paid' siaii on ihe COM
p;ction OF said ROAD. retain possession anu OPP
crate the same together with lie app'irtenaiices
bciohSin. thereto: Tor the period OIL iihet!
nine years. Win iuii ana exclusive rS,. W
hiah:iSe .he SINE, ana 10 r.S"ia.e anu "eie.
iiihe rates Oh !oli. irei2H. Ia.e anu o.,ei
charge, over s;iiu ROAD or any part ',ieeoI. anu
10 charge ana collect me same. an" aPproPr.-
aic 10 ms or their use. anu 10 nave, use. eAer
c>e anu ehJo! All t,e riS",r. PoMcr anu au-
IhorIt!, over inc r'li.r"au :,.ofes. a. i'.! -
saiu parry VI uie seconu par, mIS"a w. - W,
erauhS .!e ro''u in Hs o", i''.'ne. s"",ses On!
70 the restT'c.,ons herein co,,taIneu ~ - su
ther agIeeu. uhat tne party Oh t,e iHs' p". s,i'
pay 70 the party OF tne seeoIu pa'. as ie,,
Tor .ne Use u SAM roau. re. soi
Oh the gross earhinSs Oh s'iiu Fo'lu ~ ."I Ioi-
lowing manner: an ainou'. tqu na " e'es:n
hundred anu ninety uoiiars' lsI,lW PeI n,ue
Oh une roar so cohs,ruc.cu pr ai, pay "ye
semi-ahhul =. suen ,iii,.s anu p,...s S ~