298 TIMBER BONDS 



benefit of the bondholders the sum of Seventy- 

 five (75) Cents per thousand feet stumpage on 

 the timber so injured or damaged, the land 

 descriptions on which the timber has been 

 injured or damaged being ascertained by in- 

 vestigation under direction of the Trustees, 

 and the amount of timber thereon so damaged, 

 on which the payments of Seventy-five (75) 

 Cents per thousand feet shall be made as above 

 expressed, being determined by the estimates 

 to be made by a cruiser to be selected by the 

 Trustees with the written approval of Lyon, 

 Gary & Company ; the expenses of ascertaining 

 such land descriptions and the amount of tim- 

 ber thereon so damaged to be paid by the Com- 

 pany and to be a charge against the property 

 herein conveyed and secured by this mortgage. 



The salvage of any timber so injured or 

 damaged, and on account of which damage pay- 

 ments are made as above provided, shall re- 

 main subject to the terms of this instrument, 

 notwithstanding such payments ; but should the 

 Company desire to cut and remove such tim- 

 ber, free from the lien or encumbrance of this 

 instrument, it shall have the right to do so 

 upon paying to the Corporation Trustee for the 

 benefit of the bondholders, the additional sum 

 of Seventy-five (75) Cents per thousand feet 

 stumpage for any such damaged timber. 



Should the Company not take and pay for 

 the salvage of such damaged timber within one 

 year from the time that it shall have been dam- 



