The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1921-11-04

Recently R,tned
v. AlOfficial Blocks North Dakota Farm IDans


PKOCEEDlNG
Mote: Final installment Of the
Belseker- Sheridan County Bank set
tlement agreement Readers should
save all. papers and study. terms Of
sagreement). 3,
4. Said second partysiss. hereby given
full. power and authority at any time
to sell, assign, transfer and convey
sufficient of said collateral properties
and such of them as it may deem best
to indemnify said The Northwestern
National Bank Of Minneapolis and
said The First National Bank in Min
neapolis and said The Merchants Ma
tional Bank of Saint Paul and other
creditors as aforesaid fo1, their losses.
if any, as aforesaid except that none
of said collateral properties shall be
sold by said second party prior to the
complete exhaustion of all assets of
the T. L. Beiseker as aforesaid ex-
cept with the written approval of said
first parties. 81
Also agreed that until such times
as said assets of T. L. Beiseker are
completely exhausted and at least un-
til January 1st, 1927, said first par
ties shall be entitled to the possession
and management of all real properties
described in said Exhibit AZ as their
interests may appear, and that all net
income realized therefron shall be
paid to said Trustee from time to
time; but they shall pay all taxes on
said real estate from time to time be-
fore they become delinquent and shall
furnish vouchers covering said pay
ments to said second party immedi-
ately as said payments are made. s@
Further agreed that all cash iiqui-
dation dividends from said Beiseker
and Davidson Limited, stock described
in Exhibit "a" after the date here
Of, shall be paid to said Trustee from
time to time, but that it shall pay to
said first parties, as their respective
interests may appear, $15,O00.00 per
annum therefrom; and that the vot-
ing power of said stock shall remain
in them until the exhaustion of the
assets Of I'll. Beiseker, as aforesaid,
and at least until January 1st, 1927.
All of the remainder of said net il
come and lquidation disbursements
shall be paid to said Trustee and be
by it invested and reinvested in au-
thorized income producing securities
authorized by law for the investment
Of trust funds and held hereunder for
the benefit Of the three banks and 9th
er creditors rs hereinbefore set, forth,
FOR loaned to Trustee under said trust
agreement for payneAt. IF such items
as Trustee and :irst larties may deem
hest consistent with the terms thereof
-;;-
All expenses incident to this Agree.
ment shall be paid ost Of the 1rus,
Estate created by r. I. Beiseker un.
der the Trust Agreement aforesaid as
q part of the administration expenses
thereof.
-7-
All terms and conditions of this
agreement shall inure 10 the benefit
of and be as binding upon the re:
spective heirs, administrators, execu-
tors, assigns and successors to the
parties hereto as they themselves afe
This This :, .s,sres is mad. IN sttriipli.
E@11Set dill StEt1 III 0kS M 1f1EGte 0E S1JltEt
unit. sis1ed III oil the paatses here
to and approved by The Northwest
ern National Bank :f Minneapolis
The First National Bank in Minneapo-
lis and The Merchants National Bank
of Saint Paul. q
IN WITNESS WHEREOF. said
filst parties have hereunto set their
hands and said second party has
caused this instrumeur to be executed
by its proper a:ers An0i It's corporate
SCI $, Il, to beat be affixed en- tle dte first
CHAR rs HssI1,Bi.IsEkER
LILA Az NEYCHER
THE MiHNESQTA LOAN AND
TRu - CCtIE.hNl
>eall Ev H. T.. THRALL. :.
Wee President.
C. V. SMITH, Secretary.
The above arrangement is hereby
approved by the undersigned as of the
date first above written:
Continued on Page Four)