282 TIMBER BONDS 



nances tliereunto appertaining, and together 

 with all other property which by the terms 

 hereof may become subject to this instrument, 

 unto the said Union Trust Company and the 

 said John K. Lyon, Trustees, their successors 

 in trust, and their assigns in fee simple for- 

 ever. And the party of the jfirst part covenants 

 that it is seized and possessed of the property 

 above described and conveyed in fee simple; 

 that the same is unencumbered and that it has 

 a good right to convey it; and it warrants to 

 forever defend the title thereto unto the said 

 Trustees, their successors and assigns, against 

 the lawful claims of all persons whomsoever — 

 In trust nevertheless for the purpose of se- 

 curing the prompt and punctual payment of 

 all and every of the bonds above described and 

 of the interest coupons thereto attached, with- 

 out preference or priority of one bond over 

 another, or of bonds over coupons, or of cou- 

 pons over bonds, with the same effect as if all 

 of said bonds matured upon the same date, and 

 regardless of the date or time of the issue or 

 negotiation thereof; and subject to the follow- 

 ing provisions, restrictions and conditions, 

 to wit: 



ARTICLE I. 



All of the bonds issued and certified here- 

 under shall stand upon equality without regard 

 to date of issue, certification or delivery. Only 

 such bonds as shall bear thereon endorsed the 



