OCR Text |
Show __2__ Whereas, second party will include in said trust deed all its interest in certain lands in San Diego County, upon which the head works of its irrigation system are situated, and will also include its rights of way and other valuable rights owned by it; and will deliver to said Trustee said stock in said Mexican Company; and, Whereas, said Mexican Company is the owner of a large tract of land in Lower California, the Republic of Mexico; and, Whereas second party and said Mexican Company are about to establish and create an extensive irrigation system for the purpose of irrigating the lands belonging to said Mexican Company, situated in said Lower California, Republic of Mexico, and other lands; Now Therefore, this Agreement further Witnesseth: First: Party of the second part agrees to execute and issue in the manner and as provided by the laws of New Jersey its debenture bonds for the full face or principal value of $500,000.00 said bonds to be of such denominations each as second party may determine, to secure which said bonds second party is to execute to the Title Insurance and Trust Company Trustee (or to some other trustee to be agreed upon by first and second parties hereto) a trust deed transferring and conveying to said trustee all of its properties, lands, interests in lands and canals in the State of California. Second: That for and in consideration of the sum of Forty Thousand Dollars ($40,000), Gold Coin of the United States, payable as hereinafter specified, party of the first part, hereby sells and conveys to party of the second part, said $80,000 of the land scrip of party of |
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. |