The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1921-10-21
i, Recently Ratified b
COMMISSIONERS
PROCEEDINGS
THE TRUST AGREEMENT

THE TRUST AGREEMENT
(Continued from last week.
NOTE This agreement is so long
that the Producers News IS running
it serially The readers should save
all the papers and read It together
so as to inform himself as to the ex-
act facts in the matter.
EXHIBIT A
Trust Agreement
In case the second party shall pur-
chase for the said Trust Estate mort
cages or other securities upon which
the borrower has paid to it a commits.
sion, such commission in excess OF
the actual cost to the second party for
its services and disbursements incl
dent to the purchase and negotiatlon
Of such securities, shall be considered
ds additional interest and credited to.
! the trust hereby created as income
received thereon, it being agreed that
the actual cost Of such services and
disbursements shall be left to the de-
termination of said second party.
That said second party shall use it's
/ UCSt JOUSll1CliS III tAAC PCAAOAhASAAASS@ NJ
ali Of its duties he1 eunder in the se-
| lection of securities for and in the 2
! care of the properties belonging to
the said Trust Estate, but that it shall
not be held for any loss by reason OF
any mistakes or errors Of Judgment
made by it in goe.l faith in the ex1-
curion of said trust.
It is further mutually understood
emo agreed by and between the par-
ties hereto, that the effect of shis IN
strument shall be to vest in the said
j second party the legal and equitable
title to all of the securities and pro-
1perties hereby transferred, and that
said title is so vested and shall be
4 held and distributed by it as herein
before set forth.
Il It is furthermore agreed that said
first party will cause to be mailed to
said second party each week a fin
ancial report Of each Of said Country
Banks, and will cause to be furnished
monthly trial balance of said Farm
ers Trust Company satisfactory IN
form to said second party; and that
I if possible as MAY be requested from
!, time to time, said first party will also
! have forwarded to said second party
E Immediately after each stakeholder or
5 directors meetings. Of any of said
Country Banks or Of said Farmers
!. Trust Company and said Farm Home
: Credit Company complete copy OF
: such meetings.
Il is mutually understood and
agreed that the within contract is. a
Minnesota contract and shall be con-
strued as such under the laws of the
. State Of Minnesota.
: The said Trustee shall be entitled
: to reasonable compensation for its
!, services hereunder to be deducted
= from time to time out of said Trust
, Estate and shall also be entitled to
be reimbursed out of said Trust Es-
j tate for all moneys expended by it in
- the employment Of attorneys, agents,
! auditors, for travelling expenses and
: - for all other disbursements reasonably
= incurred by it in connection with the
= management Of said Trust Estate.
y, This contract is made in quintupli-
- cate and shall not be binding upon any
= = parties herto until and unless it shall
4; : be executed by all of such parties
= : The terms and conditions of this con
= tract shall inure to the benefit Of ane
:, are hereby made binding upon The
-. respective heirs, administrators, exc
- cutors assigns and successors of tts
az az parties hereto as they themselves o.
IS. :. are bound.
;; S IN WITNESS WHEREOF sal,
d party hereunto sets his hand ant
seal, and said second and third par
~ - ties have caused this instrument &
Is be executed by their proper officers
rf # respectively, and their respective cor
:, = porate seals to be- attached on tn
II Y Il e1o
Z. L. BEISEKER, fSeal
The Minnesota Loan and Trust &C
as By II. D. Thrall, Vice Pres
ler C. v. Smith. (Seal
Secretary
ne The Northwestern National Ban
od, of Minneapolis,
s. BY E. W. Decker, (seal
old Presiden
IRE IRE S. H. Plummer,
UT Cashie
lad The First National Bank in Mir
II neapolis,
ISL By A. A. Crane,
m m Vice President
MS S. II. Bezoir, (Seal
lnd Cashier.
ely The Merchants National Bank ,
St Paul,
By R. C.. Lilly,
President
. A. B. Lathrop,
SS A. Cashier (Sea
md State Of North Dakota
the County Of Wells
OBJ On this 31st day of Decembe
and 1920, personally appeared before y
NY. e L. Beiseker, known to me to
lTS. fhn nnrsnn who nYecnfnd tl1e fnr