296 TIMBER BONDS 



bonds SO delivered sliall be treated the same 

 as if a like amount had been paid to the Trus- 

 tees in cash. 



(c) By the payment of any of the bonds 

 secured hereby — treating only the amount of 

 principal paid as a consideration for re- 

 leases. 



In the event that the Company shall acquire 

 and deliver bonds to the Trustees, as provided 

 in paragraph (b) above, the Trustees shall can- 

 cel the said bonds so delivered and forming the 

 consideration or part of the consideration for 

 such releases and also the coupons attached 

 thereto. 



The Trustees shall keep a list of the numbers 

 of all bonds so used for the purpose of securing 

 releases of portions of the timber and shall 

 indicate on each such bond that it has been so 

 used — together with the date of such use. 



All money received by the Corporation Trus- 

 tee under this Article shall be used for the re- 

 tirement of bonds secured hereby as provided 

 in Article VII hereof. 



The Company may enter upon any land from 

 which the timber has been so released and may 

 conduct logging operations thereon as it may 

 desire ; and the Company may also, at its pleas- 

 ure, remove any logging railroad or other prop- 

 erty which it may place on such land. 



The Company covenants that it will keep 

 proper books of record and account showing 

 full, true and perfect entries of all dealings 



