OCR Text |
Show 55. AND, WHEREAS, none of the stock of the party of the iirst part other than Mid 30, 000 shares has been subscribed for, sold or issued; AND, WHEREAS, it is deemed for the best interests of both of the parties hereto that the arrangements no- in force between them in respect to selling said stock be changed as hereinafter in this agreement provided; NOW, THEREFORE, it is hereby agreed by and between the said parties hereto that said indenture or agreement of July 28th, 1908, be and the sane ia hereby modified in the manner hereinafter specified, and as follows, to-wit: 1st- It is agreed what the party of the first part shall be entitled to receive subscriptions for and to sell all of its capital stock which is not now subscribed for or sold, to-wit; 70,000 shares, and that the party of the second part shall not be entitled at any time after tho date hereof, to sell or cause to be issued or cause to be located on any land, any of said 70,000 shares of stock. 2nd- And it is further agreed that the party of the second part shall be sncitlod .o roceive tho cun of Fire Dollars (f.5.00) per share of and from the selling price of the first 30,000 shares of stock, which shall be sold by the party of the first part after the dato hereof; that is to say, tho party of the aeoond part shall be entitled to receive rive Dollars (*E.OO) per share of and fro.u the selling price of all stock whloh may be sold by the party of the first part after the date hereof until such sales aggregate 50,000 shares; said party of the second part hereby waives all of its right, title and intereet in and to said 50,000 shares of atook next hereafter to be sold, other than said sum of v5.00 per share and interest on same, aa hereinafter provided, and the purchase price for said rights of way, water righta, irrigation system and other property, is hereby, by mutual agreement, reduced to the extent herein provided; and it is further agreed that the right of the party of the second part to reoeive said sum of -?5.00 per share on said J3Q.000 shuros of 3tock, from the pur-ohase price thereof, is dependent and conditioned upon such stock being sold by the party of the first part, and the party of the second part shall not be ontitled to claim or demand such 3un of vf-^0 Per Bliare e::copt aa such stock is sold froza ti:ie to ti:..e, provided, that it ia agreed and understood that thera i- ~.\O~ unpaid, under the terms of this indenture, oi said purchase price oi said rights of way, water rights, irrigation systec and other property, the sun of .^150,000.00 and that the party of aeo-ond part herein shall be entitled to the payment of all said sum in the event of said property being sold by the party of the first part, or condernned. |
Source |
Original book: [State of Arizona, complainant v. State of California, Palo Verde Irrigation District, Coachella Valley County Water District, Metropolitan Water District of Southern California, City of Los Angeles, California, City of San Diego, California, and County of San Diego, California, defendants, United States of America, State of Nevada, State of New Mexico, State of Utah, interveners] : California exhibits. |