The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1921-10-14

- If the Sheridan County and Beiseker-sheridan e.
COMMISSIONERS
''''' PROCEEDINGS; ! !;
rue TRUST AGREEMENT

r,1r TRUST AGREEMENT
l''n Continued from last week.
,,orr-This agreement is SO long
Noln Producers News is running
that !nn :o1lv The readers should save
it seflansr nsners and read it together SO
all W Wv inform himself as to 1ne eAac'
ssets o. IS in the matter;
Trust Agreement
n rs UNDERSTOOD AND y, ;
dl1prEn II = that such control of the
AGEErSn rauntrv W. Banks and the said
salo ers Trust Company and the said
Farm far Home Credit Company as ISIS IS IN
fafnd :aont to the ownership OF stocks
elasI, easahv transferred is hereby vested
hereps+ 1,s,+e1v IL in the party of the second
aosolpTr Tristee, provided, however, that
par; snch times as said Trustee may
un.lt 4 fo> fo the contrary, the said party
eieI1 the " first part shall remain IN the
OF tne eament and supervision OF said
laanag 4s.1 Ranks, said Farmers Trust
Gouuyan Comnanv and said Farm Home Credit
com,pa eanpsny. and shall give his time, ef-
s ol4pd ond attention to each ..4esllage-
lolss ast and supervision as may be re-
nem; nuSsm;red a. and no less than he has al
lsars lvq devoted and exercised, and shall
j. sasH .ss;n On far as practicable and as
rssn r'. eaem to him best, the same oftl-
,.rs eers as at present, provided further
that That at any time, at the discretion OF
s.Si sa;d marty of the second part, Irus-
saa saa' + It shall deem it to be for the
tes+ sest interest Of all persons interested
;n H,II tho said Trust Estate, then the said
nar4v ~ sI, Of the first part shall, upon the
rpsnnest ps,ue of said Trustee, relinqulsh All
, ~ so much as shall be, requested, OF
the management and supervision OF
said Country Banks and corporations
aforesaid, including his resignation as
PRESIDENT or of such other office as
he now occupies therein or any other
act or thing incident thereto, winch
Tho said party Of the second part
shal M REQUIRE of him (including the
sssicnment of qualifying shares OF
stock held by hin) to the END and
for the purpose that the said party
Of the second part, Trustee, shall be
At all times in such control as may
he exercised by the holdings of stock
hereunder Of said Banks and corpor-
atoms when and in case in its Judg-
ment that becomes necessary. II IS
also agreed that at any time 1t de-
sired by said Trustee, said first party
may if possible have representatives
Of said second party elected as dlrec
tors Of each of the corporations in
this paragraph referred to.
IT IS UNDERSTOOD AND
AGREED that the said first party is
to act as agent for said second party
in the management of the lands de-
scribed in said Exhibit GA" in paying
taxes thereon, in the collection OF
rents therefrom or payments on &C.
count of the sale thereof, and in the
sale Of said lands in attending to oil
other reasonable and usual matters
incident of said management subject
at all times to the supervision and au-
thority of said Trustee, in so far as
it cares to exercise the same; it be-
ing understood that all leases. fol
more than three years must be made
with the written consent of said Sec
ond party, and that all earnest money
contracts, contracts for deeds or deeds
covering any or all Of said lands
must, before they become legally
binding upon the Trustee owner o1
said lands, be executed by said Irus.
tee or by a corporation or individual
approved by it. Said first party shal
make or cause to be made to sale
Trustee a statement on or before
the 18th day of each month, the frs
statements to be made on or befort
February 18th, 1921, covering all re-
celptS and disbursements for the pre-
nous month in connection with tht
management OF said real estate from
the date hereof and accompanying
Sad statement said agent shall re
mt to said Trustee any surplus furd:
On hand at the. end Of the month TO
b winch said report is made, arising
Oy reason Of said management, pay
ment Of taxes and other necessary dis
Oursements in the management O.
Md real estate may be deducted from
SAD receipts from time to time b!
Vouchers satisfactory to said Trus
- Snail be furnished to it in connec
non with said statement. The sal'
trustee in its discretion, however
may at any time during the continu
a aace OF this contract assume and TAX
tn'o itself full and complete authori
y as TO the management and sale O
we properties aforesaid.
AMI II Is FURTHER UNDERSTOOD
t,N hNg : AGREED that all of said Coun
Sy banks shall, if possible, cause t
De uenvered to such Of said thir
It.sy 10y banks as is entitled thereto, col
o~s. e1ais from their own assets in am
ss;a saass }, equal to the loans of each Q
rssi .u 0lrd parties if they have not al
tasy deposited such collateral, thi
ont e oone, as soon as possible with
Com, seriously inconveniencing sa,
ssesr sl'fy Banks, contemplated in tn
- future, as soon as the paper
/ saL,o M oe prepared, that Sill, 100000 fac
oshas Ass OF commission mortgages an
sa;s sr ;, securities now in the hands q
ass;. M FARMERS Trust Company will b
of XSned Xd to said Trustee in pursuanc
d an 1 foregoing but for the benef
ta,s. A Of its non-stock owning cred
SAID Trustee in its discretio
'con6nued on Page Fivs)