Semi-weekly herald., 1908-01-16
ing the creditors thereof. and

WHEREAS, the said party OF tht
first part is desirous Of placing hiI
personal asets and property in sucf
condition that they may be applied Il
the discharge of the liabilities Of sait
bank. and that said assets and prop
erty may become assets Of said bank
and be distributed pro rata among the
creditors of said bank as provided By
law. and
WHEREAS, said party Of the rs,
t Is desirous of securing the l,ti
B.. payment to the creditors OF said
whatever sum may remain
& I'D creditors after the assets
bank have been realized upon
i. applied to the discharge of the
debts and liabilities of said bank.
NOW. THEREFORE,, It is hereby
agreed that the said party of the first
part for and in consideration Of his
liabilities rs a stockholder and officer
of said bank. and In further considers.
tion of the performance by the said
parties OF the second part Of the terms
and conditions of this agreement ON
their part to be performed, agrees to
make, execute and deliver and cause
to be made. executed and delivered to
the said Rowe N. Pingrey. as receiver
aforesaid. good and sufficient deeds Of
conveyance. duly conveying to the said
Rowe n. Pingrey, as receiver afore-
said. all real estate and interest In
real estate owned, controlled OF held
by the said party OF the first part
| either individually or as trustee for
any person. partnership or corporation.
and all interests In real estate held
by him for and on behalf of said bank,
and all real estate owned. held or
controlled by any and all corporations
of which the said Charles f. McCon-
nell owns or controls the majority OF
the stock, said real estate herein
agreed to be conveyed being more par
ticularly described as follows:
Lot numbered %. block A. city
of Durango. Also lots II. Is. 10 and
20. block s, Lockes second addition to
Pennington; S.h tract beginning at
point on north line OF Animas street
in the town of Farmington. at its
point OF intersection with the west line
of S.E.A N.EA 1S-2S-l3, thence run
ming north to point Z chains north
west corner OF said subdivision, east
chains 96A links south to north line
to place of beginning. all in San
Juan county. territory Of New Mexico
Excepting from the above the stock
owned by said Charles f. Mcconnell
in the Ely Revenue Copper company.
"The said Mcconnell In considera-
tion of above agrees that he will make
execute and deliver to party of the
second part or to Rowe N. Pingrey,
receiver. good and satisfactory bond In
the sum of 100000. signed by himself
as surety. conditioned that said
Charles e. Mcconnell will devote his
entire time. energy and ability to the
proper management and Carrying out Of
the terms and conditions Of the OBJ
legations OF this contract and by pay.
ing over Immediately. when received.
to the said party of the second part.
or Rowe N. Pingrey. receiver. or his
successor, all sums derived by him
from the sale or lease or any otAsf
means, or from any interest he has OF
can control from the said Ely Revenue
Copper company property or any other
come possessed or obtain control In
to the amount OF 100000 or so much
thereof as shall be sufficient TO dis
charge the Indebtedness. aforesaid Of
said bank II any. and said indebted
ness to bear S per cent interest from
date of suspension of bank until fully
paid.
THE said party of the first part fur
ther agrees for the consideration afore-
said. that he will secure from the hold
ers of the following Indebtedness.
proper release and discharge OF said
Indebtedness as against said bank. and
the said receiver, releasing and quit
claiming their and each Of their claims
and demands to participate In the dis
tribution OF said assets and property
to-wit:
1.-The claims OF Frank Goodman as
county treasurer for the county OF La
Plata, amounting to the sum OF 81
s70s6. The claim Of the state treas
urer of the state Of Colorado. amount.
ing to the sum Of 5000.
"The claim of Charles e. Mcconnell.
amounting to the sum OF 4s,34s.23.
THE claim of Thos. II. Mcconnell.
brother of the party OF the flrst part.
amounting in addition to the sum OF
$4,000.
| "The claim Of A. H. Whitney
amounting to the sum OF $2,72.7s.
THE claim OF the May Day Gold
Mining company. amount to the Sum
of s2.3l3.61.
Said party OF the first part fur
ther agrees for the consideration afore
said. to make and deliver To the said
receiver an order on the First Nationa