174 TIMBER BONDS 



THIS INSTRUMENT, made and entered into 

 this seventeenth day of November, A. D., 

 1910, by and between Southern Timber Com- 

 pany, a corporation organized and existing 

 under and by virtue of the laws of the State 

 of Georgia (sometimes liereinafter for brev- 

 ity called the Company), party of the first 

 part, and Union Trust Company, a corpora- 

 tion organized and existing under and by 

 virtue of the laws of the State of Illinois 

 (sometimes hereinafter referred to as the 

 Corporation Trustee), and John K. Lyon, of 

 Hubbard Woods, Cook County, State of Illi- 

 nois, as Trustees, parties of the second part, 



WITNESSETH : 



Wheeeas, Southern Timber Company is the 

 owner of certain timber, lands, logging rights, 

 logging plant and equipment, logging railroad 

 and equipment and other property in Liberty 

 County, State of Georgia; and has full power 

 and authority imder its charter and the laws 

 of the State of Georgia to borrow money for 

 the transaction of its business in the exercise 

 of its corporate powers, to issue its negotiable 

 bonds to evidence the indebtedness thus in- 

 curred, and to mortgage its property to secure 

 the payment of the same ; and 



Whereas, by the unanimous action of its 

 Board of Directors, concurred in by the own- 

 ers and holders of its entire capital stock (both 

 of which actions have been duly taken and ex- 

 pressed according to law) the Company has 



