Imperial Valley press., 1916-01-04
Here Is the Contract By Which District Buys Irrigation Syster

Following is the contract in full
between the Southern Pacific Com.
pany and the Imperial Irrigation Dis
trict, which has been signed by the
former and probably will be signed
for the district late today:
This agreement, entered into be-
tween the Southern Pacific Company
corporation, organized under laws
OF the State of Kentucky, and I'M
perial Irrigation District, an irriga-
tion district, organized under the laws
Of the State of California, witnesseth
That Whereas, the parties hereto
have hitherto entered into two GER
tain agreements, each dated February
8th, 1915, providing for the sale and
transfer by the Southern Pacific Com
pany to the Imperial Irrigation Dis
trict Of the former company's right,
title and interest in and to certain
judgments, liens and properties af-
fecting the irrigation system of the
California Development Company in
the United States and Mexico upon the
terms and conditions and for the con-
sideration expressed in said agree
ments; and
Whereas, said agreements have
never been approved by the court as
to certain injunctive features as pro-
vided in said agreements; and
Whereas, since the execution of said
agreements the Supreme Court of CAL
ifOrnia has rendered decision in the
case of the Title Insurance & Trust
Company VS.. California Development
Company, ct al, referred to in said
agreements modifying in part the
judgment entered in said Case by the
Superior Court of Los Angeles Coun-
ty, but affirming the said judgment in
all other respects; and
Whereas, it has become necessary
to enter into new agreement between
the parties hereto;
Now, Therefore, in consideration of
the premises and the covenants and
agreements of the Imperial Irrigation
District hereinafter set forth, the
Southern Pacific Company agrees:
First-That upon the sale of the
properties under the decree entered
by the Superior Court of the State of
California, in and for the County of
Los Angeles, in the case of the Title
Insurance & Trust Company VS.. Cali
fornia Development Company, ct al,
above mentioned, it will offer to pur-
chase such properties for such an
amount as may be necessary to acquire
the title thereto; provided, that such
amount does not exceed the sum total
of the moneys due upon the bonds of
the California Development Company,
the certificates issued by the Receiver
of the California Development Com
pany, the judgment of the Southern
Pacific Company against the Califor-
MIA Development Company entered on
or about the 30th day of December,
1909, for the sum of $1,5O1 ,9O3. .63,
with interest thereon from December
30. 1909, at seven (7) per cent per
annum, the judgment of the New Liv-
erpool Salt Company against the CAL
ifornia Development Company entered
on or about January 10, 1908, for the
sum of $458,246.23, with interest
therefor at the rate of seven ca per
cent per annum, and the sum of $1,5OO,
directed by the decree to be paid to
the defendants, Heffernan, lockwood,
Blaisdell, Flores, Perry, Randolph and
Doran: provided, further, that in esti-
mating the sum total of the moneys
due upon the foregoing claims there
shall be deducted therefrom such
amount Of money as may be in the
hands of the Receiver at the date of
the sale applicable to the satisfaction
of said aforementioned claims, or
any of them.
Second-There shall be credited
against the bid of the Southern Pa