62 TIMBER BONDS 



of this bond may be declared and become due and payable 

 in the manner and with the effect therein provided. 



This bond is purely a corporate obligation, and no re- 

 course shall be had for Its payment against any stockholder, 

 director or officer of the maker hereof, unless it be upon 

 his individual indorsement or guarantee. 



In the manner provided in said mortgage or deed of 

 trust, this bond may be redeemed at the election of the 

 Company, at any interest payment date before its date of 

 absolute maturity upon payment to the holder hereof, or 

 to Union Trust Company, one of the Trustees hereunder, 

 for the benefit of such holder, of the principal hereof and 

 all interest due thereon at the date fixed for such redemp- 

 tion, and a premium of two and one-half (2i/^) per centum 

 on the principal hereof. 



This bond shall pass by delivery unless registered, but 

 it may be registered as to the principal hereof in the 

 holder's name on books of Union Trust Company, Trustee, 

 kept for that purpose, such registry being noted hereon 

 by said Trustee, after which only such registered holder 

 shall be entitled to receive the principal hereof; and if 

 registered no subsequent transfer hereof shall be valid, 

 unless made on said Trustee's books and similarly noted 

 hereon; but the same may be discharged from registry by 

 transfer to bearer, after which it shall be transferable by 

 delivery. It may be registered again, however, in the man- 

 ner above provided. The registry of this bond shall not 

 impair the negotiability of the coupons, but they shall con- 

 tinue to be transferable by delivery notwithstanding such 

 registration. 



The Company hereby consents in case of the foreclosure 

 of the mortgage or deed of trust given to secure the pay- 

 ment of the said bonds, to the entry of a deficiency judg- 

 ment against it, and that the court may direct in any de- 

 cree of foreclosure of said mortgage or deed of trust that 

 any balance due with costs and interest, which may remain 

 unsatisfied after the sale of the said mortgaged premises 

 and the application of the proceeds of such sale toward 

 the payment of the said bonds, shall be satisfied from any 

 of its property. 



This bond shall not be obligatory for any purpose until 

 it shall have been authenticated by the certificate of Union 

 Trust Company, one of the Trustees under said mortgage 

 or deed of trust, indorsed hereon. 



In witness whereof, Linn and Lane Timber Com- 

 pany has caused this instrument to be signed in its cor- 

 porate name by its President and its corporate seal to be 

 hereto affixed and attested by its Secretary, and the in- 



