OCR Text |
Show -3- Terrenos de la Baja California," which said corporation shall in this contract hereafter be called and known as the "Mexican Company." Said Mexican Company when formed shall have a capital stock of Sixty-two thousand, five hundred dollars ($62,500) divided into twelve thousand five hundred (12,500) shares of a par value of Five Dollars ($5.00) each. Second : Party of the first part shall immediately upon the formation of said Mexican Company convey to said Mexican Company, free of all encumbrances, the title to the Northerly one hundred thousand (100,000) acres of the said lands of party of the first part in said Lower California, and being the Northerly 100,000 acres of land which he agreed, as above stated, to convey to said party of the second part under said contract of May 8th, 1897. Said conveyance to said "Mexican Company" by said party of the first part shall be subject to the conditions and provisions, and each and every article thereof, of the grant or concession from the Republic of Mexico under which party of the first part now owns and holds said lands. Party of the first part shall take and receive in full payment for said 100,000 acres so conveyed to said "Mexican Company," twelve thousand (12,000) shares of the twelve thousand five hundred (12,500) shares of the capital stock of the said "Mexican Company," which said shares shall legally be delivered and set over to him at the time he passes the title to said 100,000 acres of land to and into said "Mexican Company." Third: After said "Mexican Company" is incorporated, and after said lands have been conveyed to it by |
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. |