320 TIMBER BONDS 



of the first part to be kept and performed, nor 

 for or on account of any act of the Company 

 or of its agents or servants, of any kind, char- 

 acter or nature whatsoever. Said Trustees 

 shall have no responsibility as to the validity 

 of this mortgage or deed of trust, nor as to 

 the execution or acknowledgment thereof, nor 

 as to the amount or extent of the security af- 

 forded by the property covered hereby; nor 

 shall said Trustees in any other manner, or 

 under any circumstances, be answerable or ac- 

 countable, except for bad faith; it being ex- 

 pressly understood and agreed that the recit- 

 als herein contained are made by and on behalf 

 of the said party of the first part and that the 

 Trustees are not responsible for the correct- 

 ness thereof. 



Said Trustees shall not be under any obliga- 

 tion to take any action toward the execution 

 or enforcement of the trust hereby created, 

 which, in their opinion, would be likely to in- 

 volve them in expense or liability, nor to de- 

 fend any suit, unless one or more of the holders 

 of the bonds hereby secured shall, as often as 

 required by the said Trustees, furnish them 

 with reasonable and satisfactory indemnity 

 against such expense or liability; nor shall the 

 said Trustees be required to take notice of any 

 default hereunder, unless notified in writing of 

 such default by the holders of at least ten (10) 

 per centum of the amount of the bonds hereby 

 secured and then outstanding, nor to take any 



