Imperial Valley press and the Imperial press., 1906-06-02

be delivered to second patty by first party shall be measured at the point where the same is delivered from the main canal (s0 to be constructed by third party as herein provided) into the main laterals oisecond party And par ties hereto hereby agree that second party shall receive at said last named points the full amount of water agreed to be furnished by first party to second party hereunder, and also an additional two per cent.
 XI.
 IL is further mutually agreed between second and third parties that all the collected and to be collected by second party from the assessment levied upon the 9th day of June, 1901, being assessment No. 1, of second party, shall be paid by the treasurer of second party to third party, to be used by third party in the construction of the canals and laterals to be constructed by it hereun- der.
 Third party hereby agrees that it will at the option of the stockholders of sec ond party paying said assessment No. 1 credit said stockholders with the amount 80 paid by them upon their obligations to third party last falling due or issue to such stockholders receipts as herein after provided.
 XII.
 It is hereby mutually agreed between parties hereto that third party may from time to time, issue receipts to the ockholders of second party for the amount of assessment No. l, paid by them and for labor done, money paid or other obligations of third party to the stockholders of second party, and that second party shall receive such receipts at par, from it's stockholders, in pay men of it's assessments, levied by it for the amount to be paid to first party for water furnished by first party to second party, and that frst party will receive said receipts at par from second party in payment of second party's obligations to first party; Provided, that the fact that such receipts may be used as above specified shall be stated upon the face of each receipt issued hereunder
 XIII.
 It is mutually agreed between parties hereto that the interest upon the obli- gations due from the stockholders of second party to third party shall not commence prior to January 1, 1902; that no money shall be collected from second party for any water furnished to it prior to January 1, 1902
 That the main canal and system of lateral ditches to be constructed by third party hereunder shall be in opera ton by the first of January, 1902.
 XIV.
 The term "acre foot of water" as used herein shall be construed to mean 43 ,560 cubic feet of water.
 XIV.
 Wherever money Is mentioned in this contract, it is understood between the parties hereto that United States Gold Coin is referred to, and that all pay ments made under the provisions of this contract shall be made in United States Gold Coin.
 XVI.
 And for the faithful performance of all the terms and conditions of this agreement severally to be performed by the first and third parties, or by either of them to tr second party. or to the stockholders of the latter, that the said first and third parties severally do each perpetually guarantee such performance by the other, and do severally and per- petualy bind themselves by these pres ents to said second party and it's stock holders that such performance shall be made.
 In witness whereof, parties of the first and second part have caused these pres. ents to be executed and their respective seals to be hereto attached by their re- spective vice. presidents and secretaries duly authorized by resolution of their respective Boards of Directors, and