The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1904-08-27
OLAA GIVES
A MORTGAGE
To Bishop & Co. Under
Terms of Agency
Contract.

An indenture of mortgage was fled
for record yesterday, between the Olaa
Sugar Company, Limited. and 5. NJ
Damon and S. E. Damon. carrying on
the business of bankers in copartner-
ship under the name of Bishop & Co
The parties are Identified in the in-
strument as respectively the .mortga-
gor company and the mortgages. :
In the preamble the following facts
are set out:
1. The mortgagor company is essi-
powered by its articles of association
to borrow money for the purpose Of its
business in such amounts may from
time TO time be required, and as Sc
curity for the repayment thereof may
execute and deliver mortgage or
mortgages of its property.
2. By an indenture dated June q.
1904, the mort gal gees were made the
general agents of the mortgagor COM
pany for the purposes therein mentions
ed, and the mortgagor company there
by charged all of its assets. subject TO
its bonds then outstanding, with the
payment to the mortgages of all sums
of money then owing or which should
thereafter be owing by the mortgag0r
company to the mortgages, and agreed
with the mortgages that it would ON
demand by the mortgages execute 70
the mortgages a legal mortgage of the
said assets subject to the said bonds to
secure the payment of the said money!
8. The mortgagor company is in-
70 he in ~ errfFz
of $633, ,61S.3S, little more or less, Of
which sum S40O, 900 is evidenced bx
eight promissory notes of the mortga-
gor company for $4,000 each, all dated
July 1, 1904, and payable one year afters
date TO the order of the mortgages
with interest al per cent. per annurn
payable monthly.
4. Pursuant to the said contract og
| agency the mortgages have requested
! the Tnortgagor company to secure the
payment of the said eight notes and
| all other sum or sums of money which
are now owing and which shall at any
| time during the continuance of this
security be owing by the mortgagor
| company to the mortgages on any and
every account, together with Interest,"
as already stated.
5. At meeting of the directors of4
the mortgagor company held In Homo
| lulu on July 19. 1904. it was resolved
| that the mortgagor company conveys
to the mortgages, by way of mort 4
gage, all of the assets of the company|
present and future (subject only to the :
bonds of the company then outstaad- u
ing and to the deed of trust dated's
August 1, 1900. executed by tie mors-
gagor company to secure the boIlds3 s#
such mortgage being TO secure the pay-A
ment of the said eight promissoryk
notes and all other sums of money owl
ing by the murtgagor company TO fha4
mortgages on any and every account d
together with interest on the daily ball
ance of it's Indebtedness to the n,ort-f
gagees at the rate of Z per cent. perl
annum payable monthly, and also OF alfE|
sums of money which shall at any tinasB
hereafter be owing by the mortgagori'
company TO the mortgages on any andfa
every account, together with interestf:
as aforesaid. The president and treas-if
urer Of the company We're by the sanaets
meeting authorized to execute the mort-ik
gage, a copy of which was submitted3f
to the board of directors and approvediE
by all of the members thereof.
Then the ndenture witnesseth thasss
the nortgagor company in pursuancaI;
of the agreement and the resolutiossN
aforementioned. and in cons1deratiouls
of the said sum of s63S, 61s.3S. includIngIs
the eight promissory notes for $50006
each, and in consideration also OF al
covenant by the mortgages therein4
after contained, doth hereby granflf
and convey unto the mortgages andsk
their heirs all of the lands, tenementa
and hereditaments situate on the IsIandI
of Hawaii, Territory of Hawaii, men-
toned or described in the deeds and
land patents hereinafter mentioned.
The list of deeds and patents num5ers
II. comprising an aggregate of aboutl
IA, ,407 acres.
All other lands. tenements and here-s ]
ditaments and all shares or interestsI.
N such wherever situate, now held orI
owned by the mortgagor company orr Il
which may hereafter be acquired BY
t. its successors or assigns. during theH
existence Of this security; and all the
diversions. remainders. rents. issues
nd profits thereof: and all the estate.
light. title and interest Of the mort
yagor company, both at law and in's
.quity, therein and thereto, are withi}
he lands above mentioned granted 10
he mortgages:
CONTINUED on page p