Monopolies -- United States; Railroads and state -- United States
The party of the third part, in consideration of the premises, hereby
agree to advance, as upon a loan, to the said parties of the second
part, their survivors and successors, all such sums of money, and at
such times as maybe necessary, to enable said trustees, economically and
promptly, to execute and perform the conditions of said contract, upon
the call of said parties of the second part, their survivors and
successors, such sums never to exceed in the whole the amount provided
for in said contract, to be paid by the Union Pacific railroad company,
for the execution and performance thereof, and to receive therefor
interest at the rate of seven per cent per annum, payable
semi-annually, on each sum so advanced, until the same are repaid.
And said party of the third part do further agree, for the consideration
aforesaid, and for an amount equal to two and one-half per cent on the
amount to be by them advanced, to be paid to them as commission, to, and
do hereby guarantee unto, the parties of the first part and second part,
the due performance and execution of the said contract, according to its
terms and conditions, and do indemnify and hold harmless the said
parties of the first and second part of and from all cost, liability,
loss or damage to them, or either of them, arising from or on account of
said contract, and to the faithful performance of the agreement,
contracts, and conditions herein above specified to be done and
performed by each.
And this conveyance and transfer is made upon the further trust and
condition.
That the trustees shall adjust and pay over to the Credit Mobilier of
America such portion of the net profits of the work done and material
furnished on the first one hundred miles west of the one-hundredth
meridian, as was done and performed prior to January 1, 1867.
In witness whereof, the party of the first part, the several parties of
the second part, in their own proper persons, have hereunto set their
hands and seals, and the party of the third part has caused these
presents to be executed by its president, attested by its secretary with
the seal of the said company, on the day and year above written.
OAKES AMES,
THOMAS C. DURANT,
OLIVER AMES,
JOHN B. ALLEY,
SIDNEY DILLON,
CORNELIUS S. BUSHNELL,
H. S. MCCOMB,
BENJAMIN E. BATES.
Signed, sealed, and delivered in presence of CLARK BELL.
The Credit Mobilier of America, by its president,
SIDNEY DILLON.
Attest: BENJAMIN F. HAM,
_Assistant Secretary_.
Public-domain text, read in full here on John Shaqi.
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