AZ vs. CA:07 California Exhibits, Vol. VII; Nos. 326-370

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sonal property belonging to the first party, excepting only the non-operative personal property hereinafter particularly excepted. The properties belonging to the first party excepted from this contract of sale are as follows: (a) All notes, mortgages, deeds of trust, book accounts or other accounts receivable, and the books, papers and records of the first party. (b) All money or cash on hand or on deposit in banks; and (c) 138 acres of land situate in the Palo Verde Valley which is not connected with and does not relate to the irrigation system or used in connection therewith. 2. The purchase price which the second party shall pay for all of said properties shall be: (a) A sum equal to twenty-seven and 50/100 Dollars ($27.50) for each share of the capital stock of the first party which shall be subscribed for, outstanding and issued at twelve o'clock, noon, on August 31, 1925, payable in lawful money of the United States; (b) An additional amount of one hundred twenty-five thousand and no/100 Dollars ($125,000.00), lawful money of the United States, and (c) That as a part of said purchase price, the second party shall, by a valid legal and effective instrument in writing, assume, promise and agree to pay, at or before the time the same shall, respectively, become due (1) the balance of the principal now remaining unpaid of the outstanding and unpaid bonds of the first party, amounting to the sum of three hundred fifty thousand and no/100 Dollars ($350,000), and (2) all interest becom-