OCR Text |
Show -22- or Association for supplying Colonists to the lands subject to the lien of this Indenture; provided however, that such grants, conveyances and donations shall not exceed in all the amount of five thousand (5000) acres; It is further covenanted and agreed that the Trustee shall, from time to time, if the Company is not in default, for the period aforesaid, upon application similar to that described as aforesaid execute and deliver in a similar manner, similar releases of such land so donated, not exceeding in all releases of five thousand (5000) acres. A certificate similar to that described above shall be sufficient authority to the Trustee to execute and deliver such releases except that the said certificate shall specify that the land for which such release is applied for has been donated by the Company as aforesaid in which case the Trustee shall require no payment of money by the Company upon executing and delivering such release. It is further covenanted and agreed that the Mexican Company and the Company, may, from time to time, sell and convey any of its lands now owned or hereafter acquired, and not constituting a part of its main canal, to any owner and holder of any of the bonds of the series secured by this indenture with all immatured coupons attached and receive in payment such bonds at face value, with such coupons attached in lieu of money. It is further covenanted and agreed that the Company shall receive in lieu of cash any of said bonds with all immatured coupons attached, secured by this indenture at the face value of the bonds tendered, in payment for land sold by the Company; provided that the price at which the lands of the Mexican Company can be sold for bonds shall not be less than Two and 50/100 ($2.50) Dollars per acre. |
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. |