Semi-weekly herald., 1912-10-10

part release OIL 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
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
provided, it will forthwith undertake
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, 1918.
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-
rense 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
PioSCCdhiSoy may Dc iCSCoodiy
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 certifi-
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 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
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-
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
bonds and fifty per centum of the out
standing warrants of said party of
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
centum of the par value thereof in
cash, in settlement for such warrants,
as to which fact the certificate of the
depository shall be conclusive.
IN WITNESS WHEREOF, the said
party of the first part has caused
these presents to be executed in its
corporate name by its president, and
its corporate seal to be hereunto af-
fixed, attested by its secretary, pur-
suant to resolution duly adopted at
a regular meeting of its Board of
Directors this day held, and the said
party of the second part has caused
these presents to be executed in its