The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1925-11-20

properly and insufficiently housed:
WHEREAS, Sheridan County, Montana,
has claim against State Bank of
Plentywood, for the deposit of county
moneys, in the sum Of about Eigty-Five
Hundred ($8500.00) Dollars INSULT
GENTLY secured, and on which said
state Bank of PlentyWood, an insolvent
banking corporation will probably make
only small prOportionate payment:
and WHEREAS, Fred Ibsen, Receiver
or said State Bank of Plentywood, an
his possession and among the assets
of said insolvent banking corporation,
Lot Numbered Seven Cd of the Block
Numbered (12), Of the Original Town
Montana, with the banking building and
office building thereon situated, togeth-
| er with the lighting fixtures and vaults
/ in said two buildings, and has offered
to sell, subject to the confirmation of
/ the court, said lot, with said two build
/ ings and said vaults and lighting fix
lures, for the sum of Two Thousand
| (S2,OOO.OO) Dollars, cash, plus the as
sumption by Sheridan County, Mon
tana, Of the delinquent taxes upon said
lot and buildings, and in the sum of
about Fifteen Hundred ($1500.00) Dol
lars, and will accept as a part of the
purchase price of said building a salts
faction of the claim of said Sheridan
County, Montana, for said county de-
Five Hundred (s85OOOO) Dollars, max.
ing a total of the purchase price of said
property the sum of Twelve Thousand
Q2,0O0.0O) Dollars:
AND, WHEREAS said Sheridan
County, Montana rents an office build
ing for the County Attorney at the
monthly rental Of Thirty-five ($35.00l
Dollars, and desires to use said Office
building on said lot as an office for tn
County Attorney of Sheridan County
Montana, and WHEREAS, said offic
building is offered for sale by said Re
ceiver, at the sum of Two Thousan'
-
building is offered by him for the puT
pose of a County Library, at the sur
Of Ten Thousand 100000 Dollars:
NOW. THEREFORE, Sheridan Coun
ty, Montana, acting through its Boar
of County Commissioners, meeting i
regular session, offers to purchase o
and from the said Fred Ibsen, as Re
> ceiver of said State Bank of Plenty
wood, an insolVent banking corporation
said lot and the bank building there
e on located, for the sum Of Ten Thous
and ($10,000.00) Dollars, said buildin
to be used as County Library buildin
I and purchased for that purpose, and tn
balance of said lot and the office builC
ing thereon located for the sum of Tw
Thousand ($2,00O.OO) Dollars, said Of
J flee building to be used as an office fc
3 the County Attorney of said county, tn
4 payments thereof to be made up g
J hereinbefore set forth, to-wit: TW
Thousand (S2,000.00) Dollars in Casl
the assumption of Fifteen Hundre
4
e the satisfaction by said county of i
T claim against said State Bank of Plel
the amount of it's county deposit
amounting to about the sum of Eight
4 Five Hundred (S8500.00) Dollars: al
q said County agrees to make the pu
a chase of said lot and said buildings
, and from said Ibsen, as Receiver, #
= which purchase prices hereinbefore s
n forth, and upon the terms and cond
o lions hereinbefore set forth.
e 1925.
Il Chairma
NIELS MADSEN,
County Clerk & Recorder.
The following Resolution was intr
duced and adopted
RESOLUTION
BE IT RESOLVED, by the Board
County Commissioners Of Sheridi
County, Montana, that whereas a sc
tlementment has been made by Sherid
County, Montana, with Fred IbSen, II
r ceiver Of State Bank of PlentywoC
Montana, an insolvent banking corpoT
ton, by which compromise and settl
a. ment the indebtedness of said Sta
Bank of Plentywood and the Receiv
f. thereof has been paid to said County
full; and WHEREAS said indebtedne
was secured by an Assignment to sa
IA County by said State Bank of Plent
wood Of the Mlortgage of Ole P. N
son and Dorothea Nelson, his wi
covering certain real estate in So
County, and which said Mortgage "
q recorded on January goth, 1922 in 30
'T 222 of Mort cages on Page "a, and viii
N said Assignment was recorded on Ap
L 9Th 1928 in Book 1876 of Assignmel
on page 81; and whereas said indebt
ness was further securde by the w
ranty Deed of said Bank to D. ].
son, County Treasurer Of SheriC
nd County, Montana, covering certain Ian
ID. in said County, and which said w
d. ranty Deed was recorded on the 9Th {
of April, 1928, in Book PA of Deeds
II page 466 thereof,
ar NOW, THEREFORE,, said indebt
ia ness being paid, the said collateral
tv curity shall be returned to said Ba
an to-Wit to the receiver thereof; and Il
n Torstenson, County Treasurer and s
n cessor in office of said d. j. Olson, Sh
ed execute a good and Su---cient Deed
Warranty covering said premises;
said County shall execute, through
Chairman and Clerk, a good and su
cient Assignment of said Mortgage
the said Bank and the said Ibsen
Receiver thereof.
Nineteen Hundred and Twenty-Five.
nv EDWARD INVERSION
m Chairman of the Board Of Coul
nd Commissioners.
\ NIELS MADSEN
MS County Clerk of said County Z
Clerk of said Board of County Comm
Sioners.
IA. At 1900 o'clock the Board adjourn
EDWARD INVERSION
Chairman of the Boa