William F. Cody Archive: Documenting the life and times of Buffalo Bill

Title: Contractual Agreement

Date: September 24, 1901

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THIS AGREEMENT, made and entered into this 24th day of September A.D., 1901, by and between the LINCOLN LAND COMPANY, a corporation organized and existing under the laws of the State of Nebraska, and authorized to do business in the State of Wyoming, party of the first part; and Bronson Rumsey, of the City of Buffalo, and State of New York, acting as Trustee for William F. Cody, George T. Beck, Nathan Salsbury, George Bleistein, Horace C. Alger, H. Montgomery Gerrans and Bronson Rumsey, party of the second part:

WITNESSETH:

THAT WHEREAS; the said party of the first part is the owner of an undivided one-half (1/2) interest in and to the following described real Estate, to-wit: the North Half of the North-East Quarter (N1/2 NE1/4) of Section Numbered One (1), in Township Numbered Fifty-two (52) North, of Range Numbered One Hundred Two (102) West of the Sixth Principal Meridian; the South Half of the North-West Quarter (S1/2 NW1/4) and the North Half of the South-West Quarter (N1/2 SW1/4) of Section Numbered Twenty-nine (29), in Township Numbered Fifty-three (53) North, of Range Numbered One Hundred One (101) West of the Sixth Principal Meridian; the East Half of South East Quarter of Section 31 and all of Section Numbered Thirty-two (32), in Township Numbered Fifty-three (53) North, of Range Numbered One Hundred One (101) West of the Sixth Principal Meridian, including all of the lots in the town of Cody, located on said above described Section Numbered Thirty-two (32), except the lots contained in a schedule hereto attached and made a part of this agreement, marked"Exhibit A." And the seven individuals above named are the owners of the other undivided one-half (1/2) interest in said real estate ; and

WHEREAS; in order to better carry out the purpose of this agreement, the legal title to all of said real estate has been placed in the name of the party of the first part, including the lots in Cody contained in Exhibit "A", above referred to; and

WHEREAS; Bronson Rumsey, party of the second part, has been appointed Trustee to represent the seven individuals above stated, by written instrument dated the 25th day of July A.D., 1901: and

WHEREAS; it is the object of the owners of said real estate to establish a town on the above described land, and sell the lots thereof, and generally handle the said property to their mutual benefit and profit; and in conformity with said object the party of the first part has made a survey of a part of the above described premises, and platted the same as the town of"Cody": and

WHEREAS; it is the desire of the parties hereto that the LINCOLN LAND COMPANY shall have the management and sale of said property: and

WHEREAS; the said George T. Beck, acting as manager for the parties interested, had caused to be surveyed and platted the town of "Cody", on a part of the above described land, and at various times heretofore had contracted and given options to sell certain lots therein to various individuals, the lots so contracted being described in Exhibit "A" attached to this agreement:

NOW THEREFORE; It is mutually agreed by the parties hereto as follows, to-wit:

1. That the party of the first part is hereby authorized to convey to the Chicago, Burlington and Quincy Railroad Company the right of way for said Company's line of Railroad, as the same crosses any land herein described, and to further convey to said Company such an amount of said lands as may be required by said Company for Depot or working grounds at the station to be established North of the present town of Cody:

2. That the party of the first part shall survey and plat a portion of the lands herein described, and dedicate and record the same as the town of "CODY", and from time to time, as needs arise, shall survey, plat and dedicate other parts of said lands as additions to said town of Cody; and offer the lots therein for sale at prices to be fixed by the said party of the first part; and shall, in the name of said party of the first part, issue contracts of sale, deeds and leases; and said first party shall receive and care for money received from such sales and leases, pay agents commissions, and other legitimate expenses for surveying platting, selling and managing said property; and, at the close of each period of Six (6) months, redonning from the first day of January A.D., 1902, the said first party shall make a statement to the party of the second part showing the number of lots sold or leased, the number of acres sold or leased, and the total amount for which the same have been sold or leased: all monies received from the sales of lots or lands or otherwise from the above described property, the amounts paid out for expenses in managing the property, including the costs of surveying, platting, agent's commissions, taxes, advertising, etc., showing generally all transactions relating to the joint property; and, after deducting all of the aforesaid legitimate expenses from the total receipts, shall pay to the party of the second part one-half (1/2) of the balance, if any, as representing the net proceeds from the said party of the second part's half interest in sales and leases, and collections from the joint property: Providing, that the party of the first part shall be entitled to retain out of the net proceeds of the half interest of said party of the second part the sum of Twenty-five (25) Dollars per month for management, as provided in Clause "3".)

3. That the party of the second part shall pay to the party of the first part the sum of Three Hundred (300) Dollars per annum, for the services of its office force, for the care and management of said second party's interest in said real estate, which amount shall cover stationery, postage, book keeping and miscellaneous office expenses:

4. That the party of the first part shall handle and manage the aforesaid property in the same manner as it handles its own like property, and it shall not be held responsible for more than ordinary care in the management of the business:

5. It is agreed that the party of the first part shall on demand of the party of the second part issue its quit-claim deeds for the lots described in Exhibit "A", to the respective persons who have heretofore contracted to purchase the same, as referred to hereinbefore: Provided, that if any of the purchasers shall not consumate their purchases by the payment of the balance of the purchase price for the lots so purchased, any such lots so affected shall revert to and become the property of the two parties to this agreement:

6. That either of the parties hereto shall have the right to terminate this agreement by giving thirty days notice in writing to the other party, and in such event the parties hereto shall have an accounting, and make specific partition of all of the above described property then remaining unsold, which partition, and the conveyance by the party of the first part to the party of the second part of one-half of the property then remaining unsold, or in accordance with a partition agreed upon, shall be a fulfillment of this contract as to conveyance of this property; but the title to the property covered by outstanding contracts of sale shall remain in the hands of the party of the first part until said contracts shall have been paid, and the party of the first part shall continue to make deeds in its own name for said property as hereinbefore provided, and the proceeds of said unpaid contracts shall be collected and divided by the party of the first part in the same manner as provided for in this contract:

Signed by the parties hereto the day and year last above written.

(executed in duplicate)

Countersigned:-

ABMinor
Secretary

LINCOLN LAND COMPANY.

By C H Morrill
President.

Witness signature of President.

H M Gerrans.

Witness signature of Trustee.

GBleistein

Bronson Rumsey
As Trustee.

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STATE OF NEBRASKA,)
)SS.
LANCASTER COUNTY.)

BE IT KNOWN; That on this 17th day of December , A.D., 1902, before me, a Notary Public in and for said County, personally appeared C. H. Morrill, President of the LINCOLN LAND COMPANY, who is personally known to me to be the identical person whose name is subscribed to the foregoing instrument as said President, and then and there acknowledged the execution of said instrument to be his voluntary act and deed and the voluntary act and deed of said Company.

WITNESS my hand and Notorial Seal on the day last above written.

W. W. Turner
Notary Public

My Commission expires Sep. 12th-1907.

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STATE OF NEW YORK,)
)SS.
ERIE COUNTY. - - - - -)

BE IT KNOWN; That on this 15th day of Dec, A.D., 1902, before me, a Notary Public in and for said County, personally appeared Bronson Rumsey, who is personally known to me to be the identical person whose name is subscribed to the foregoing instrument as Trustee, and than and there acknowledged the execution of said instrument to be his voluntary act and deed. Witness my hand and Notorial Seal on the day last above written.

Wm. A Angus
Notary Public

My Commission expires Mch 30,1903.