Semi-weekly herald., 1912-10-17

vided, it will forthwith execute and
deliver to the said party of the first
part a release of all claims and de-
mands of every kind and character
arising from or growing out of the
aforesaid contract of July 2, 1910,
as modified and changed by the said
contract of April 10, 1911, which said
The Pioneer Construction Company
ever had, or which said party of the
second part as its successor in inter-
est now has or hereafter may have,
and will fully release and discharge
said party of the first part from all
liability or responsibility under said
contracts, or either of them.
vi.
Said party of the second part fur
ther covenants and agrees that, on
the execution and delivery of the in
struments of conveyance and assign
ment hereinbefore provided for, and
upon the delivery of the aforesaid
certificates of stock as hereinbefore
PAONAoSdy ~ Will 1OILuWllu uHueTIdhc
the work of construction on the irri-
CATION system projected for the ir-
rigation of the lands on the Florida
Mesa, and will complete the same sub
stantially as provided in the aforesaid
contract of July 2, 1910, as modified
and changed by the said contract OF
April 10, 1911, by or before the 1st
day of May, 1913.
VII.
Said party of the second part fur
ther covenants and agrees that, after
the execution and delivery of the in
struments of conveyance and assign
ment hereinbefore provided for, and
the delivery of the aforesaid certif-
Gates of stock as hereinbefore pro-
vided, it will at its own cost and ex-
pense defend any and all suits, ac-
tions and proceedings, whether in law
or equity, which may be brought, in
any way involving the validity or le-
gality of any of the acts or pro-
ceedings to be done or had under the
terms of this agreement, and will also,
at its own expense undertake and
prosecute any and all suits, actions and
proceedings, which may be necessary
to enable the parties hereto, or either
of them, fully to keep and perform the
covenants and agreements herein con-
tanned.
Said party of the second part fur
ther covenants and agrees that, after
the execution and delivery of the in
struments of conveyance and assign
ment hereinbefore provided for, and
the delivery of the aforesaid certiti-
Gates of stock as hereinbefore pro-
vided, it will, as soon thereafter as is
practicable, cause said party of the
first part to be dissolved and obtain
the entry of judgment or decree
of a court of competent jurisdiction
decreeing or cause proper proceed
ings to be had to procure such disso-
luton, it being understood that all
proceedings to that end, including the
expense of necessary meetings and
elections, shall be at the expense of
said party of the second part, which
shall also be liable for and hereby
agrees to pay the expenses of the
election herein provided to be called
for the purposes of voting on the ques-
tion as to whether this agreement
shall be ratified and approved.
1t is mutually understood and agreed
that the instruments of conveyance
and assignment hereinbefore provided
to be executed and delivered, and the
certificates of stock hereinbefore pro-
vided to be delivered by the said
party of the first part to the said
party of the second part, upon such
ratification and approval by its cleo
tors as aforesaid, shall be placed in
escrow with The Durango Trust Com
l pany of Durango, Colorado, with in
' structions to deliver the same to said
, party of the second part, as and when
said party of the second part shall
have executed contract or contracts
for the completion by or before the
1st day of May, 1913, of the irriga-
5 tion system for lands on the Florida
Mesa substantially as provided in the
aforesaid contract of July I'd, 1910, as
, modified and changed by the said con-
tract of April 10th, 1911, and shall
: have procured the deposit of seventy
! five per centum Of the outstanding
7 bonds and fifty per centum of the out
e standing warrants of said party of
5 the first part under an agreement
to accept the bonds of said party of
, the second part in the place and stead
/ of such District bonds and fifty per
r centum of the par value thereof in
z cash, in settlement for such warrants,
/, as to which fact the certificate of the
depository shall be conclusive.
e IN WITNESS WHEREOF, the said
! party of the first part has caused
7 these presents to be executed in its
: corporate name by its president, and
4 its corporate seal to be hereunto af-
, fixed, attested by its secretary, pur-
suant to resolution duly adopted at