Imperial Valley press and the Imperial press., 1906-06-02
OUR WATER RIGHTS
fnrther construetion therooI.

veYed Co party or Ane HIhb paAb WhNOi said contract "Exnibit B' are the waters to be used by party of the first part in supplying party of the second part with water under this agreement;
 AND, WHEREAS, an assessment of sl .OO per share was levied by second party upon the 9th day June, 1901
 NOW, THEREFORE, This Agree ment Witnesseth:
 It is agreed between parties of the irst and second part hereto that said agreement of April 9th, 1900, Exhibit IA" hereto, be and the same is hereby rescinded and set aside; Provided, how ever. that the recissiOn of such agree ment shall not in any way affect any act which may have been done by eith- or of the parties thereto.
 First party hereby agrees upon de- mand of second party, to perpetually de- liver to second party an amount ot water not exceeding four (4) acre-feet Of water per annum for each outstanding share of stock of second party Provided, however, that the aggregate amount of water which first party is hereby obli- gated to deliver to second party, shall not exceed four hundred thousand (4OO, OOO) acre.feet of water per annum.
 First party further agrees to deliver said water to second party at the point upon the international boundary line between the United States of America and the Republic of Mexico, where the main canal constructed by first party crosses said line, being point distant about 21l miles easterly from monu- ment No. 220 of said international line; and it is hereby mutually agreed that first party shall have no interest in or control over said water after the de- livery thereof at said international boundary line.
 Second party hereby agrees that third party shall retain all moneys or other property which may have been, or may Sbe received by it, third party, from the sale of the capital stock of second party heretofore sold, and also that third party shall have the exclusive right to sell all of the remainder of the capital stock of sec ond party except two thousand five hun ldred shares, upon such terms as 1t may desire and to receive for it's sole use and benefit all moneys or other property that may be obtained therefor.
 It is further mutually agreed that the labove mentioned two thousand five hundred shares of the capital stock of second party shall be retained by second Ioarty as treasury stock, and that neith- er first or third party shall have any in- kerest therein or in the proceeds to be obtained from the sale thereof, and that said stock may be sold by second party from time to time as second party may require the proceeds of such sales to pay It's running expenses, at the same price and upon the same terms that third party is selling said stock.
 Second party further agrees that its Eapitai stock shall be issued by it's off lers at such times and to such persons, Ind in such amounts as third party may rom time to time in writing request, sntil the entire capital stock of second Sarty shall have been issued, except as provided in the preceding clause
 It is further mutually agreed between
 rst and second parties hereto that sec nd party shall receive and pay for not ess than one CD acre-fOOt of water for ach share of it's stock outstanding upon ne first day of July of each year, and nat second party shall pay first party he sum of fifty cents per acre-foot for
 ch acre-foot of water delivered to sec pd party by first party under this con-
 act, and it is further mutually agreed
 stween first and second parties that
 e price of fifty cents per acre-foot Irein agreed upon as the price which
 all be charged annually for the water
 be received by second party, shall in