112 Third Annual Keport of the 



$3.30 per cord for all softwood and the sum of $1.50' per 

 cord for all hardwood ; the same to be paid as follows : 



One-half of the above mentioned price per cord to be 

 paid for the timber when cut and scaled in the woods, the 

 balance to be paid on removal from skidways. 



Sixth. The party of the second part shall upon the execu- 

 tion and the delivery of this contract execute and deliver to 

 the party of the first part a good and sufficient bond of in- 

 demnity in the sum of six thousand dollars ($6,000), as se- 

 curity for the faithful performance by the said party of the 

 second part of all the covenants and agreements on his part 

 contained in this contract. The security of such bond of 

 indemnity shall be a properly authorized surety corporation, 

 doing business as such in this State, and said bond must have 

 the acceptance and approval of the party of the first part 

 thereto. 



Seventh. It is further covenanted and agreed that the 

 agreement herein contained shall be binding upon and inure 

 to the benefit of the successors and assigns of the parties 

 hereto respectively. 



Eighth. Xo timber of any kind is to be removed from 

 the land hereinabove described, except such as is designated 

 by the foreman of lumbering of the Prison Department, as 

 dead timber, and his designation of such timber to be so re- 

 moved and covered by this contract is to be final and conclu- 

 sive upon the party of the second part, and said party of the 

 second part is to remove and pay for according to the terms of 

 this contract all the merchantable, dead timber designated as 

 such by said foreman of lumbering of the Prison Depart- 

 ment, upon the lands herein described. 



Ninth. It is further agreed that in the event there is a 

 misunderstanding or dispute concerning the description of 

 land covered by this contract, the foreman of lumbering of 

 the Prison Department shall be the arbitrator and his de- 

 termination as to the area covered by the contract shall be 

 binding and conclusive upon the party of the second part. 



