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THIS AGREEMENT, made and entered into this 24th day of September A.D., 1901, by and between the
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;
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
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
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
Signed by the parties hereto the day and year last above written.
BE IT KNOWN; That on this
WITNESS my hand and Notorial Seal on the day last above written.
BE IT KNOWN; That on this th