Imperial Valley press., 1916-01-04

Foulteenth-The Trustee shall col
lect the interest due on the purchase
price specified in Paragraph Fourth
hereof pending the determination of
the validity of said bonds under this
agreement and shall surrender the
coupons representing such interest TO
the Irrigation District or agency MAX
ing such payment. and shall pay to
the Southern Pacific Company all in
terest due January list. 1916, and all
interest collected thereafter during
the period that the Imperial Irriga-
tion District operates said irrigation
system as the agent of the Southern
Pacific Company under this agree
ment.
In the event that said Irrigation
District becomes the agent of the
Southern Pacific Company as herein
contemplated, but such agency is ter
minated before such bonds are ac-
cepted bv or become the property OF
the Southern Pacific Company under
this agreement. all interest accruing
during the period of such agency shall
be paid to the Southern Pacific Com
pany by the Trustee. the balance of
such interest being held by the Trus-
tee as hereinafter provided.
In the event that the Irrigation Dis
trict should not become the agent Of
the Southern Pacific Company in the
management of the said irrigation
system as herein contemplated, all in
terest accruing after January 1st. 1916
shall be collected by said Trustee, who
shall surrender the coupons represent
ing such interest to the Irrigation
District or the bank or agency MAX
ing such payment and shall turn over
such interest, with the bonds and cou-
pons representing unpaid interest
thereon. to the Southern Pacific Com
pany when such bends are accepted by
or become the property Of the South
ern Pacific Company under this
agreement. If said bonds shall not
become the property Of the Southern
Pacific Company under this agree
ment. such bonds and all interest paid
thereon and retained by the Trustee
pursuant to the terms of this agree
ment, together with the coupons rep
Iresenting unpaid interest, shall be re-
turned by said Trustee to the Imperial
Irrigation District, except in so far
as such coupons represent interest
which should have been paid through
the Trustee to the Southern Pacific
Company, and such coupons shall
thereupon be delivered to the South
ern Pacific Company for collection for
so much thereof as represents such
interest; and the fact that said bonds
are returned by the Trustee to the
said Irrigation District shall not re-
lieve the District from its obligation
to pay to the Southern Pacific Com
pany interest which it is hereinbefore
provided shall be paid by it, and the
Southern Pacific Company, its success
sors and assigns, shall have the right
to collect. in its own name, by suit
or otherwise, all such interest with
the interest thereon from the date
that it became due at the rate Of five
(5) per cent per annum.
Fifteenth-In the event that the
consent Of the Railroad Commission
of California or any other government
tai authority is necessary to consum-
mate the transaction contemplated by
this agreement and such consent can
not be obtained except upon terms
and conditions not provided fer herein
and which are not satisfactory to
both parties, either party may, at its
option, terminate this entire agree
ment.
Sixteenth-This agreement does not
transfer, or contemplate the transfer
of, any interest in the claim which
the Southern Pacific Company now
has pending before Congress for reim-
bIrsement for expenditures by the
Southern Pacific Company in prevent
ing the continuance of the flow of
the Colorado river into the Salton des-
ert, as the money thus expended and
represented in such claim are distinct
from and in addition to the money
expended and the damage sustained by
the Southern Pacific Company which
are represented in the judgments,
bonds and receivers certificates
agreed to be transferred herein to the
Imperial Irrigation District.
SeXenteenth-The said Imperial
Irrigation District agrees that it will,
at all times. co-operate TO secure the
inclusion within the boundaries OF sad
district of all lands belonging to the
said Southern Pacific Land Company
and its vendees which may be irrigat-
ed from the works Of said District, or
any extension thereof.
Eighteenth-The Southern Pacific
Company also agrees that it will in
demnify and protect the Imperial r.
Iigation District against, and when
necessary will pay any and all valid
fees, court costs, fees or charges OF
the Mexican government, or valid fees
or charges of the Depositario now
acting in charge of the aforesaid Mex
lean properties in Mexico that may
have accrued or been incurred prior
to the time that the Irrigation Dis
trict acquires the ownership and con-
troll Of said properties as herein con-
templated, and will, when requested
by the Imperial Irrigation District,
cause the deed conveying the Mexican
properties of the old Mexican Com
pany to the new Mexican Company
to be recorded. and delivered to the
new Mexican company and will take
whatever other steps which it may
legally take which the District may de-
sire with reference to the receivcrship
in Mexico OF court proceedings there
in in order to more fully effectUate the
intent Of the agreements herein eX-
Tho Cc,-+hn.,, D,o;g.a