290 TIMBER BONDS 



secured hereby, keep or cause to be kept in- 

 sured against loss by fire or cyclone, all of the 

 buildings now on any portion of the property 

 hereby mortgaged or which may hereafter be 

 erected thereon, and all the machinery, equip- 

 ment and apparatus used or pro\dded for use in 

 connection with said mill plants and equipment 

 that are usually insured by companieu or per- 

 sons engaged in like business, and in the same 

 manner, and to the same extent (but in an 

 amount not less than Eight Thousand Dollars), 

 and shall cause such insurance to be made pay- 

 able in case of loss to the Trustees hereunder 

 or their successors, by proper stipulation in the 

 face of the policies therefor. 



In case of loss or damage to any property 

 covered by such insurance policies the Trustees 

 may allow the amount of the insurance money 

 received from said policies on account of such 

 loss to be applied toward the replacement of, 

 or addition to the property destroyed or dam- 

 aged, if the Company shall in writing so re- 

 quest. In such case the Trustees shall from 

 time to time pay to the Company any or all of 

 the proceeds of such insurance money so col- 

 lected or received; but no such payment shall 

 be made until and unless the Trustees shall first 

 be furnished with a statement or statements 

 verified by the affida^dts of the President or 

 Vice-President of the Company showing that 

 the Company has theretofore made actual ex- 

 penditures to an amount equal to or greater 



