The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1921-06-24
TENTATIVE Set II. IS. /.
ELEMENT MADE
T With BElSEKER
Continued from First Page)

tCOnClUucu lIOu Aot o6S/
and dollars ($1O0,00O) at the rate
of eight go per cent per annum,
Dayable annually, from the 18th
day Of February, 1921, to the
date upon which is executed the
final contract hereinafter referred
to, and interest on the sum OF one
hundred thirty-fiye thousand
(S135, O0O) at the rate of 2H per
cent per annum, payable quarter
" from the 18th day of Febru-
airy, 1921. at the date of the ex-
ecution of the final contract here
matter referred to, and interest
on the sum of two hundred thlr-
ty-five thousand dollars $685.
100000 at the rate of 3K per
cent per iannum, payable annually
from the date of the execution OF
the final contract to the date OF
said payment.
THIRD: That after said pay
ment of said interest and the
said sum Of at least twenty
three thousand five hundred dol
lars ($23,5OO) all deferred pay
ment shall bear interest at the
rate of 81 per cent per annum
payable annually. That after
said payment shall have beer
made, the balance of the princl'
nal sum remaining due shall b
/, paid on the basis of at least
three thousand five humid
red dollars ($23,5O0) on or befor.
the first day Of January in eacf
year beginning with 1923, ant
ending on the first day of Janu
airy, 1881, but it is expressly un
derstood, agreed and herein pro
vided that at any time said I. i
Beiseker may elect so to do, n
may pay or cause to be paid t.
said Sheridan County, any par
of the balance of the said princi
pal sum then remaining unpaid
and in the event that sum il
excess of twenty-three thousan
FIVE hundred dollars ($23,5O0
and accrued interest is paid II
any of said years, then tn
amount so paid in excess of TWEEN
ty-three thousand five hundre
dollars ($23,5OO) and accrued in
terest may be deemec to be PAL
of the payment Of All install
ment due in any succeeding yea
or years as said T. l.. Beiseke
may designate, and provided. tia
the said T. L. Beiseker shall d.
liver to The Minnesota Loan
Trust Company, certain secur
4, ties to be used by it in liquida'
& ing the indebtedness above me1
: toned, and said Minnesota Loa
g & Trust Company shall CONVEX
said securities into money as raj
=, idly as may by it be deemed al
yisable, and shall pay sue
money, less the reasonable CO.
of administering the said secur
ties, to Sheridan County, not la
er than January following tt
time of so converting said secur
i ties into money.
FOURTH: That the Minneso'
Loan & Trust Company, corpo
alton, of Minneapolis, Minnesot
will on or before sixty days her
from, or within such further e
tention of time as your Homo
able Board may grant, guarant'
and assume the responsibility II
the payment Of the amounts
money and interest at the tim
hereinbefore set forth when sa
principal and interest become d'
and payable, but it is hereby e
pressly understood and agree
!. that none of the parties here
have the authority or undertal
to bind and obligate the said Mi
nesota Loan & Trust Company
make such guarantee, but tn
agreement is subject to the a
ceptance and approval of the sa
Minnesota Loan & Trust Coz
pany, and that T. L. Beisek
will, with reasonable diligene
exercise his efforts to induce II
Minnesota Loan & Trust Comp
nv to guarantee and assume tt
performance of the conditions
this agreement.
FIFTH, That in the event !:
Minnesota Loan & Trust Col
pany, for any reason refuses
guarantee the payments abo
mentioned, but procures or aids
procuring some responsible SUI
L. .onn,nu hank Or other c.