, 1935-05-05

chased. It win be seen that the remaining half win
then be ali clear profit and viii have cost the Found
er Member nothing except the temporary use Of
what payments he may have made.
1t is further provided. however, that should
the Founder Member purchaser Of any property build
within one year, or give satisfactory assurance Of in
tention to build. a building to be agreed upon. with
In a time to be agreed upon, then in such event the
right to resell one half Of the property Of such
Founder Member for the purpose OF building on the
other half as above outlined viii be postponed until
after the time agreed upon for the Founder member
to build; and IL the Founder Member or successor
in ownership shall build, within q time to be agreed
upon, then the right to 50 resell one half for such
purpose shall automatically expire.
It is further provided that after a building il
built by or for any Founder Member, or any success
sor in ownership, that the right to keep such build
ing in presentable and disable repair and to rent such
building is retained, provided the owner does not use
the building and does not have some other party who
will keep 1t in presentable and disable condition, and
keep it satisfactorily rented for the owner.
1t is provided when this right is exercised.
which is retained in order to keep such improvements
In presentable and disable repair and to rent such
improvements to others, that all cost Of such repairs
shall be charged only against rents to be collected
to pay for such repairs, and that all balance Of all
rents collected shall be RENTED to the owner or
order, or deposited subject to check Of owner. less
ten per cent Of the balance Of rents left after paying
for any such repairs. This ten per cent is to be
the total charge for all supervision and care Of the
property and for the collection Of rents
BY these wise provisions for the benefit OF all
Founder Member purchasers. and their successors in
ownership, Of lots or portions Of lots in our beauti-
full little new city Of East Brownsville. all portions
of this property which may be purchased by our
Founder Members can be made to rise rapidly and
permanently In value and to produce for each own
er a handsome income in proportion to the size OF
the original investment made by Each Founder
Member.
All Founder Members and their successors in
ownership can by this plan Of building and develop
ment always know that their investment will be
cared for in the best available and practical way, and
in the most responsible and honorable way, in order
to provide for them the greatest permanent value.
security, satisfaction and income, whether or not
they are present, or have others available to loyalty
and carefully look after and preserve their best in
terest for them
Whenever Founder Members purchase less than
one whole lot, and one half Of what they shall have
purchased Is sold as above provided for making in
come producing improvements on all or any part
of the other half Of what they purchased. then
such Founder Members or their successors in owner
ship, Of the other half which is 50 improved shall
own the portion OF such Improvements made on the
ether half Of the portion Of the lot which Is not re-
scld.
II Is provided, however, that such portion OF
improvements, unless used by the owner. shall be
rented, when most practical to do so. In such way
as to add to the advantage Of renting the whole
building. Then the owner or owners Of each por-
ton OF such building shall receive their part OF the
total net rentals from such building which shall be
paid to each one in proportion to the number Of
cubic feet Of such building owned by each one.
These are fair and equitable provisions for the
protection and benefit OF all owners at any time OF
any lot or lots. or for any part or parts Of any lot
or lots, however large or small such part or parts
may be.
This makes Il both possible and practicable for
all Founder Members to own and retain for them
selves and their decendents or other heirs free Of
all Indebtedness. q portion Of the central business
property Of our beautiful little new city OF East
Brownsville. or q portion Of any other section or sec
tons Of East Brownsville Properties
BY our Founder Member plan Of building and
development we are making very rare and ex-
traordinarily valuable provisions for those who may
avail themselves Of the great and special oppor-
tunity offered them 70 become Founder Members Of
this beautiful little new city Of East Brownsville.
BY the above provisions for the fair and just
benefit Of all Of our Founder Members, each one will
be helped by every improvement made on any Of the
property Of any Founder Member. Every improve
ment made on any portion win help to increase the
value Of both every other improved and every un-
improved portion.
Soma Founder Members. by this plan. VII