Imperial press and farmer., 1902-02-22

such sales to pay its running expenses, at the same price and upon the same terms that third party is selling said stock.
 Second party further agrees that it's cap ital stock shall be issued by it's officers at such times and to such persons and in such amounts as third party may from time to time in writing request until the entire capital stock of second party shall have been issued. except as provided in the pre- cedng clause.
 It is further mutually agreed between first and second parties hereto that second party shall receive and pay for not less than one (1) acre-foot of water for each share of it's stock outstanding upon the first day of July of each year, and that second party shall pay first party the sum of fifty cents per acre-foot for each acre-foot of water delivered to second party by first party under this contract, and it is further mutually agreed between first and second parties that the price of fifty cents per acre-foot herein agreed upon as the price which shall be charged annually for the water to be received by second party, shall in no event and under no condition of cir cumstances be increased, and that first party will never charge more than the said sum of fifty cents per acre-foot per annum for the water to be delivered to second party hereunder.
 It is hereby mutually agreed that all water received by second party prior to the first day of July of each year, shall be paid for that day, and that all other sums due for water each year shall be paid for on the first day of January of the follow ing year; Provided. that for the failure by or default of the second party for period ot ninety days to make any payment Of money for delivery of such water, after the same becomes due. the first and third parties, or either of them, may cease to deliver such water from said main canal into the laterals of the second party until such arrearage is fully paid.
 VII.
 Third party hereby agrees that it will construct and maintain main canal com mencing at the point upon said international boundary line where said water is to be delivered to second party, and continuing from said point of commencement through the lands described in the Articles of lncor- poration of second party; said canal to be of sufficient capacity, either in it's original construction or through subsequent enlarge ments made from time to time by third party at it's own cost and expense, to con- vey an amount of water sufficient at all times for the irrigation of the lands owned or located by the stockholders of second party, and being an amount in the aggre- gate not less than sufficient to furnish four acre-feet of water per annum for each out standing share of stock of second party. Said canal to be owned and maintained by third party, and third party to have the exclusive right to navigate said canal, and to develop and all power that may be developed from the waters flowing therein. Third party further agrees to convey the water to be delivered by first party to second party hereunder through said canal to the lateral ditches to be constructed by it as hereinafter provided
 VIII
 In the event that third party shall fail to construct or maintain the main canal herein agreed to be constructed by it, or to convey and deliver the water agreed by third party to be conveyed through said canal to the lateral ditches to be constructe by third party as hereinafter provided, then second party shall have the right to enter upon said canal, and to make such additions and repairs thereto and changes therein as may be necessary in order that said canal shall have a capacity sufficient for the con- veyance of the water to be conveyed therein hereunder, and second party shall