Contrast Between the US Irrigating Company, et al. and the Graham Ditch Company, et al.

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and all of said obligations to be payable at maker's option on or before the maturity thereof, and to bear interest at the rate of six per cent per annum, payable semi - annually. To the end that no one signatory party to this agreement shall be responsible or liable for more than its agreed proportionate share, as represented by its own obligation, neither of said second parties shall be bound for or obligated to pay the aggregate of the said sums so to be paid, nor any part or portion thereof beyond the amount of their respective individual noes or securities; provided, however, that second par- ties jointly guarantee the payment of any warrants tendered hereunder by The Otero Irrigation Distriet,.and in case of the payment of the amount of said ».!arrants by second panties, for The Otero Irrigation District, they shall receive the warrants or other securities issued by the said The Otero Irrigation District as evidence of its said obligation. VIII. Coincident with the delivery by the Secretary of The Arkan- sas Valley Ditch Association of one of the duplicate originals of this contract to the President of The United States Irrigating Company, as provided in subdivision (g) of paragraph I hereof, the said Secretary shall also deliver to the said President the said obligations of the signatory second parties hereto, evidencing the deferred portion of the money consideration for this contract, duly executed by the duly authorized officers of the signatory second parties hereto, and shall also then deliver to said President copies of the several resolutions of the stockholders or directors of the signatory second parties here- to, authorizing the signing, execution and delivery of said obligations, each of which copies of said resolutions shall be duly certified and attested by the Secretary of the corporation adopting said resolution, under the seal thereof, and shall also at said time pay to said Presi- dent the amount of said consideration, in paragraph VII hereof agreed to be paid in cash upon the execution and delivery hereof. The said President of the said The United States Irrigating Company, upon re- ceiving said duplicate original of this contract, said obligations of the said signatory second parties hereto, said certified copies of said resolutions, rnd said cash payment, shall deliver to said Secretary a stipulation entitled in said pending suit, duly signed by the com- plainant in said pending suit, authorizing and directing the immediate dismissal of said pending suit at the cost of said complainant, and upon the filing of said stipulation, the said suit shall be so dis- missed. In lieu of the stipulation last above mentioned, the said President of the said The United States Irrigating Company shall, upon ► receiving said duplicate original of this contract, said obligations of the signatory parties hereto, said certified copies of said resolu- tion, and said cash payment, if requested by the Secretary of The Ar- kansas Valley Ditch Association, deliver to said Secretary a disclaim - er, for itself and for each of the signatory first parties hereto, said disclaimer to be duly executed by said complainant, and to recite that all matters involved in said pending suit have been compromised, settled and fully disposed of, said disclaimer, so to be signed and executed by the complainant, to have the same force and effect as if - 18 -