58 TIMBER BONDS 



the laws of the States of Minnesota and Ore- 

 gon, to borrow money for the transaction of its 

 business and the exercise of its corporate pow- 

 ers, to issue its negotiable bonds to evidence 

 the indebtedness thus incurred, and to mort- 

 gage its property to secure the payment of the 

 same; and 



Wheeeas, by unanimous action of its Board 

 of Directors, concurred in by the owners and 

 holders of its entire capital stock (both of 

 which actions have been duly expressed accord- 

 ing to law) the Company has resolved to bor- 

 row money for its corporate purposes, and to 

 issue and dispose of its negotiable mortgage 

 bonds therefor, and to secure the payment of 

 said bonds, together with the interest thereon, 

 by a mortgage or deed of trust in the form of 

 this instrument, upon its property hereinafter 

 described, together with the rents, issues and 

 profits of the same, and which mortgage or 

 deed of trust shall be a first lien thereon; and 



Whereas, by unanimous action of its Board 

 of Directors, concurred in by the owners and 

 holders of its entire capital stock (both of which 

 actions have been duly expressed according to 

 law) the Company has further resolved that 

 said bonds shall bear date of June 6, 1910, shall 

 be for the aggregate amount of One Million, 

 Five Hundred Thousand (1,500,000) Dollars, 

 shall be numbered consecutively from 1 to 1,575, 

 both numbers inclusive, bonds numbered 1 to 

 •1,425, both numbers inclusive, being for the 



