The Randall County news. (Canyon City, Tex.) 1908-1926, 1908-09-25

or some great and unusual financial
stringency, or by some Providential
hindrance, or the acts of God, or by
the impracticability of buying material,
over which the said second party may
have no control in which event or
events. he, his successors or assigns,
shall be allowed an extension of time
Tor one year for the completion of the
line from the point of beginning at
Canyon City to the point of terminus.
The said the second party hereby
agrees for himself, his successors or
assigns, to employ such of the sub
scribers to this contract who may de-
sire to do work or be in condition to
have it done on said railway, in grad
| ing. hauling ties. or other employment,
| to the extent that such work may be
mutually helpful and satisfactory, pay
ing for the same at the rate of Five
Dollars $500 per day for the labor
of one man and two good mules and
suitable harness, crediting such party
who may do this work on his note or
notes for the amount of such time and
labor furnished. The party furnishing
such labor and livestock shall feed the
man and team during the time so en-
ployed. This labor if desired, to be
applied for and subscribed for under
a separate contract.
The said second party hereby agrees
to begin the construction of said rail
way in grading the same within thirty
days after the twelve per cent 12%)
If said subscription shall have been
paid into the bank or banks as here
inbefore defined, and after the notes
and mortgages have been duly exc
cuted and placed in the hands of the
Trustee hereinbefore provided for.
Deeds of conveyance to the town
lots and the Three Hundred and Tween
ty acres of land are to be executed to
Eugene G. Gordon, Trustee, his sue
cessors or assigns, in fee simple and
free from any membranes, and
placed in trust, in escrow, with the
Trustee hereinbefore provided for, and
held by him until the railway shall
have been so completed to the eastern
line of Randall County in the direction
of Silverton, when one-half in value
shall be delivered to said Gordon, the
other one-half to be delivered upon
the completion of said railway to its
point of destination and the building
and installing of the shops, round
house and headquartcr Offices as here
in provided for.
In the event that there be any diff
ference of opinion as to the valuation
of the lands mortgaged to secure the
notes, il is hereby declared to be the
purpose of this contract that the valu
alton placed upon same shall be such
, as the land would bring at present II
exposed for sale for cash at public
, cutlery, and if this valuation cannot be
: agreed upon by the party making the
the valuation shall be arrived at b!
) arbitration, one party being chosen b!
, the subscriber, one party by the sale
r second party, his successors or assigns
. and these two to select third, who's
!. decision as to the valuation shall b.
;. final. 1t is understood tina, no les
). an acreage than forty acres shall b.
t accepted as security for any note.
i The said the second party, for him
u self. Successors and assigns, furthe
agrees and binds himself that any sui
Z scriber hereto having paid the twelv
per cent 02%) of his subscription INT
i the hands of the trustee or trustee
J. hereinbefore referred to at the tim
e required under this contract, may q
n any period during the grading of sal
p railway through Randall County, pa
e in cash the remainder of his subscril
ton into the hands of the Trustee
If be appointed to administer the tru'
n, hereby created, at which time the sal
NJ Trustee will not only deliver to sal
subscriber his note and mortgage ft
cancellation. but shall also deliver
said subscriber first mortgage bono
. of said railway company for Il
/, amount equalng his full subscriptio
. or to the extent that the same may |
- practicable; or in case the bonds ca