New Mexico state record. (Santa Fe, N.M.) 1914-19??, 1918-05-17

entitled to the interest on such bonds as
it accrues.
The Commissioner shall hold such. de-
post and upon default OF the Purchaser
in the performance of any Of the terms
Of this contract, said sum Of Twenty Five
Thousand Dollars ts2s!ooo;l shall inuIe to
agreed that the amount of damages which
shall accrue to the State Of New Mexico
by virtue Of a breach of this contract
hereby declared to be, the sum OF Twenty
Five Thousand Dollars (s2s,OO0), and upon
such breach this contract shall terminate.
Upon faithful compliance with the terms
of this contract said deposit shall be re-
turned to the party of the second part
at the expiration Of the period covered
by the life Of this contract.
The Purchaser may assign the contract
for the purchase of lands in whole or in
part, but NJ assignment OF the same shall
be made for lands in any township un-
less all Of the lands in such, township
and covered by this contract be includ-
ed therein.
II. As long as the Purchaser shall
observe the covenants herein agreed by. it
to be performed, it shall have and enjoy
the right to occupy and use said lands.
And the Purchaser shall have and enjoy
all rights Of way privileges necessary and
convenient for logging. purposes, over, up
on, and across the said lands, with rights
of ingress and egress at all times for such
purposes. And this contcart is issued sub
ject to all valid existing rights, easements,
rights of way and reservations.
L " is UNDERSTOOD and agreed that
the timber on all Of the lands descrihrd
in Schedule "B", attached hereto and made
a part hereof, shall be sold, cut. logged,
and paid for, under all and singular the
terms and conditions herein expressed. And
in the event of the sale of any or all
of the said lands described in said Schedule
"B" to other than the Purchaser herein,
or If n" said lan1s are not sold a gen:
eral right of way for cutting, logging, and
operating thereon, shall be reserved, and
the same is hereby granted to the Pur-
chaser. But if the lands in said Schedule
''B" shall be bid in by and sold to the
p'.-chascr hercin. then said lands shall be
subject to all of the conditions in this
contract which are applicable to the lands
described in Schedule "a" hereto attach
ed.
10. At any time when there shall re.
main not more than ten QW sections of
the lanls uncut, but not later than January
LIST, 1887, the COMMISSIONS will submit
estimates Of all the timber remaining un.
paid for upon the lands herein, and the
Purchaser shall within thirty 500 days after
receipt of such notice, advise the Com
missioner of its concurrence or non-con-
Curr, nee in the correctness of such estim-
ates. If the Purchaser shall concur, final
settlement shall be made upon the basis
of such estimates. If the Purchaser shall
refuse to concur in the estimates SO sub
pute shall be determined by a cruise and
estimate made by one or more cruisers
appointed by the Judge of the United States
Court for Sw the District in ,. which Sh
Payment. shall thereafter be made as is
provided for in Paragraph Five 90 here
ten million 10000, OOO) feet, such excess
shall be paid for on December 3lst, for
he preceding year. On or before January
and the timber thereon must be made in
to avoid forfeiture of the contract
AMI all previous payments.
shall remain less than ten million no.
100000 feet of timber on the lands, the
payments provided for in Para
Five () hereof, shall be made on
4 basis of one-twelfth Q-l2) of the amount
IF such timber SO remaining.
ID. 1t is understood and agreed by both
parties hereto that the purpose of making
herein for annual payments on
he purchase price Of the lands is strict.
md protection Of the State of New Mex.
CO it being admitted to be in the in
crest of the State to require a more
stringent contract in this regard than is
pecified by statute,
IS. 1t is understood and agreed by
10Th parties hereto that inasmuch as the
Of the lands and timber herein des-
ribed, is made at public auction and up
m advertisement setting forth this contract
n full, no modification of this contract
= Of the terms thereof shall hereafter
Il made.
Is. This agreement shalt inure to the
eneht Of and be binding upon the parties;
he office Of Commissioner of Public
.ands shall be abolished, the public Of
Icial most nearly performing the present
hall be substituted for the Commissioner
I Public Lands for all purpose of this
greement.
THE PURCHASER AGREES that the
ayments to be made as hereinbefore set
,rth, will be made promptly and on the
ates on which they become due and