The Coconino sun., 1912-10-18

tion so as to enable the Committee
 to make delivery of the preferred
 stock and common stock as above
 provided to the Santa Fe Pacific
 Company and to Depositing Bond
 holders; and, in that event, the
 Railroad Company shall be deemed
 to be the new railroad company
 under the foregoing provisions of
 this plan.
 The Depositing Bondholders re-
 spectively authorize the Committee
 to do all acts and things which the
 Committee in its discretion may
 deem necessary for the purpose of
 carrying out said plan and this
 agreement. and each Depositing
 Bondholder for himself but not for
 the others by the deposit of his bonds, assigns and transfers the deposited bonds to the Committee
 and the survivor and their or his
 successors, as joint tenants, and
 agrees that the Committee shall be vested with ale the rights and
 powers of owners thereof. And without limiting the foregoing general provision, it is hereby ex- ! pressly declared that the Committee shall be authorized to exercise
 every power vested in the holders
 of said bonds; to purchase or other
 wise acquire or contract for the purchase or satisfaction of any , liens upon any part of the mort , gagged property or any claims , against said Railroad Company, . and to compromise with any such . lien claimants or other creditors of said Railroad Company; to take any action which said Committee may
 in its discretion deem proper for . the purpose of obtaining, securing or perfecting the title, ownership and possession of said railroad and l property of the Railroad Company or any part thereof for the pur- , pose of expediting the reorganiza- tion or avoiding litigation; to apply for said purposes the de- , posted bonds and any funds raised by the Committee, and to raise all 5 necessary funds upon pledge of the deposited bonds, charging there
 with the rights of depositors under
 this agreement and their interest in the new securities to be issued,
 and in general to do whatever in the opinion of the Committee may , be judicious or advisable for the purpose of carrying out the fore . going plan and this agreement: it being hereby expressly declared , that the specification of particular , powers herein shall not be con- , strued as limiting the general
 powers hereby granted, and that
 the exerclse of the powers by this
 agreement conferred upon the
 Committee shall be in all respects discretionary with it.
 It is, however, expressly under 2 stood and declared that the Con- mittee shall not have any power to , render any Depositlng Bondholder personally liable for any moneys borrowed by the Committee or
 voluntarily subject any Depositing Bondholder to any personal lia- bility or obligation, but only the property which is the subject mat
 ter of this agreement may be
 charged with the liabilities or ob-
 ligations incurred by the Com
 mittee.
 The amount to be bid by the Committee at any foreclosure or
 other sale ot the railroad or other
 property of the Railroad Company shall be entirely discretionary with the Committee.
 All bonds and other property
 deposited win or held by any de-
 positary hereunder shall be re-
 ceived and held by such depositary
 subject to the order and cotnrol
 of the Committee; and at any time
 the Committee may appoint new
 depositary.
 The committee may organize
 the new company proposed to be formed, in such manner as the Committee shall deem best, and may receive and vote upon the stock of such new company until the same shall be transferred to the parties entitled to receive the
 same hereunder.
 This agreement is to be opera tive whenever $500, ,000 par value of such bonds of the Railroad Com pany, or such less amount as the Committee shall deem to be suffi- cient, shall have been deposited . hereunder. In case for any reason the Committee shall determine that it has become expedient to
 attempt to carry out the plan, it