The sun., 1897-12-24

70 build upon, by purchase, lease or other
wise; and
WHEREAS, the said New England
Company has duly covenanted, in and by
the terms Of said agreement, to deliver to
the Improvement Company or the per-
son or persons, firm, copartnership, or
from whom or which said
Company shall obtain said
loan, at or before the making Of the
same, the securities and property herein
after mentioned,
NOW, THEREFORE, in consideration
of the premises and Of the mutual cov-
enants and agreements herein contained,
the said parties have agreed, and do
hereby agree each with the other as fol-
lows -,
l. The Trust Company agrees to loan
to the Improvement Company the sum
of twelve million dollars ($l2, ,000)
upon the promissory note of said I'm
provement Company, to which reference
is hereby made, dated December l, 1897,
payable on the LIST day of August, 1898,
with interest at the rate Of per cent
per annum from the date thereof and
as compensation and commissions said
Improvement Company agrees to
deliver to said Trust Company shares
owned by it of the capital stock of said
New England Company to the aggregate
amount of two million four hundred
thousand dollars, par value.
1.-the Improvement Company shall
deliver to the Trust Company, at the
time of the making Of the loan aforesaid,
certificates Of stock of said New England
Company, duly endorsed in blank, or as
may be required by the Trust Company,
representing four million eight hundred
thousand dollars, par value, of such cap.
ital stock of total issue of seventeen
million five hundred thousand dollars,
par .value, and also its bonds to the
amount, parsvalue, of twelve million dol
lars of q total issue of seventeen milliOr
five hundred thousand dollars, par value
such bonds to bear interest at the rate o
five per cent. per annum from Decembe
l, 1897, payable semi-annually, and to b.
secured by the transfer and pledge tt
said Trust Company, as Trustee, of al
the securities and personal property 81
to be purchased and acquired by tn
New:England Company, and the trans
fer and mortgage Of all the real estat
, now owned or to be purchased and &C
quired by said New England Company
under an instrument in the natur
of pledge or mortgage to be approved b.
said. Company. All Of the sail
shares of stock and bonds shall be hell
by the Trust Company az security for tn
payment Of said loan.
f III. The New England Company shal
4 not be entitled to draw any portion {
J, said ST., 100000 loan, except for the pu'
s poses hereinbeforc recited, and all proE
). erty which shall be acquired by the Ne,
@ England Company by means ofsnch loa
e shall forthwith be transferred or cor
j veyed to the said Trust Company, d
It Trustee, for the security OF the New Eng
e land Company's bonds aforesaid.
u ". The said loan is made upon tn
e faith and credit of an underwriting agree
# ment in the form, ,or substantially tn
G form, hereunto ANNEXED, marked "a,
If and the Improvement Company agree
that on or before the first day,,of; Decen
d Der, 1897, it will procure, or cause to /
n procured, an execution of such undel
o writing agreement by persons, firms {
y corporations satisfactory to the TruI
II Company, whereby such persons, firm
8 or corporations shall agree to take til
II entire amount of said shares of stock an
n bonds of the New England Company 5
It to be delivered to the Trust Compan,