128 TIMBER BONDS 



received; but no such, payment shall be made 

 until and unless the Trustees shall iBrst be fur- 

 nished with a statement or statements verified 

 by the affidavits of the President or Vice-Presi- 

 dent of the Company or of the Lumber and 

 Manufacturing Company as the case may be, 

 showing that such Company has theretofore 

 made actual expenditures to an amount equal 

 to or greater than the amount of insurance 

 money sought to be thus obtained from the Trus- 

 tees, in or about the repair or the replacement 

 of the property damaged or destroyed for or 

 on account of which such insurance money was 

 collected; and all such repairs or replacements 

 shall be and become subject to the lien of this 

 instrument in like manner and to the same ex- 

 tent as was the property damaged or destroyed. 

 The Trustees shall not be compelled to act upon 

 such affidavits, but should they deem proper 

 they may before making such payments of in- 

 surance money make or cause to be made such 

 further investigation with reference to such ex- 

 penditures, repairs or replacements, as they 

 see fit. 



But if within ninety days from the time of 

 the collection of the proceeds of any such in- 

 surance policy the Company shall not in writ- 

 ing request the Trustees to hold such proceeds 

 for the purpose of applying the same on such 

 repairs or replacements, then the said sums so 

 collected shall be credited to and become a part 

 of the fund held by the Corporation Trustee 



