The herald. [volume] (New Orleans, La.) 1905-1953, 1915-04-22

and Thirtytwo; all of Section Thirty
three west of Section Forty-four; in
Township Fourteen, South, Range
Twenty-one. East.
That part of Section Four west Of
Section Thirty-seven; all of Sections
Five, Six and Seven; that part of Sec
ton Eight west of Section Thirty-seven:
all of Section Seventeen west of Sec
ton Thirty-seven; the North half of
Section Eighteen; all of fractional Sec
ton Nineteen west of Section Thirty
seven; in Township Fifteen, South,
Range Twenty-one. East:
All of Section Twenty-Five; all of Sec
ton Thirty-five east of Grand Bayou.
except the Northwest quarter; all of
Section Thirty-siX: in Township Four
teen. South, Range Twenty. East.
All of Sections One and Two; all of
Section Three East of Grand Bayou; all
portions of Sections Ten and Eleven
east of Grand Bayou and North of
Black Prince Bayou; all of Section
Twelve and fractional Section Thirteen;
in Township Fifteen, South. Range
Twenty, East.
All being in the Southern Land Dis
triCt west of the Mississippi River and
embracing thirteen thousand six hun
dred and forty-eight and eighty-three
one hundredths G3,64S S3-100ths) acres
of land, more or less, the said acreage
being taken from the government plats
and original government surveys.
Together with all buildings, improve
ments, canals, bitches, levees pumping
plants, with pumps and appuTtenances.
farming implements. machinery, and all
fixtures and appliances of every sort,
kind and description thereto attached or
Herewith connected-of which land two
thousand eight hundred and sixty acres
are substantially reclaimed:
. Which said land. property, improve
ments, buildings, etc, are valued and
appraised by the Board of Directors of
said corporation and by the subscribers
hereto, at the sum of seven hundred and
thirty-three thousand and five hundred
dollars.
For said property, said corporation is
to pay to said Moore the sum of seven
hundred and thirty-three thousand and
five hundred dollars. to be paid and set
tied as follows:
First: This corporation shall issue to
said Moore seventeen hundred shares of
it's preferred stock and six thousand,
nine hundred and seventy shares of its
common stock all full paid and non
assessable; and said Moore hereby sub
scribes for said shares of stock, the
same to be paid for by being accepted
as part of the price of said property and
real estate to said corporations:
Second: This corporation shall pay to
said Moore the sum of siXty-five thous-
and dollars, cash, at the signing and eX-
ecution of the contract of sale, and shall
make further payments as follows:
Thirty thousand dollars on or before
Thirty thousand dollars on or before
March Is, 1917;
, Thirty thousand dollars on or before
March Is, 1918;
Thirty thousand dollars on or before
March Is, 1919; and
Fifteen thousand dollars on or before
March Is, 1920;
Said deferred payments to be repre-
scented by promissory notes to be given
by this corporation, drawn to its own
order and by itself endorsed, bearing
| interest at the rate of six per cent per
annum, payable annually, from date un-
| til paid. and secured by vendors lien
and special mortgage upon said proper
~ and real estate with all the usual
security clauses, the same to be exc
cuted at the time of the making and de-
| livery of the title by said Moore to this
| corporation; and
Third: For the balance of the pur-
chase price, s100,000.OO, the said Moore
shall proceed to form. or cause to be
formed. a drainage or sub-dra1nage as
| trict covering a tract of land contain
| ing approximately twenty-eight hun
| dred acres, (part of the land above de-
scribed) on which reclamation work is
substantially completed, and shall
cause to be issued thereon bonds to
cover such reclamation work already
done and to be done, said bonds to be
| issued under and in accordance with
Article PSI, of the Constitution of the
State of Louisiana, in the sum of one
hundred thousand dollars, which bonds
shall be accepted and taken over by said
Moore at par. in full payment OF said
balance of said price; provided, how
ever, that this corporation. or its as
signs, shall have the right to take over
| said bonds at par, and to pay SAID
Moore in lieu thereof the sum of one
hundred thousand dollars in cash at the
| time of the issuance and delivering OF
said bonds-it being understood that
| this corporation is to pay the expenses
| of forming said drainage or sub-drain-
age district, not exceeding, however, the
sum of three thousand dollars.
other subscriptions to said capital
stock shall be paid in cash, at such time
| and in such amounts as may be deter
mined by the Board of Directors.
All of the net earnings OF said corpo-
ration and all of the net proceeds OF
property sold, except such as snail or
nav be invested in property and real
estate to be acquired by this corpora
tion and except such as shall be paid as