Minutes - 16

15

Agreement
between H.O. Co.
and Jno. H. Kirby

This agreemnt made this [gap] day of July 1901, between the
Houston Oil Company of Texas a corporation of said state party of
the first part and John. H. Kirby of Houston Texas party of the second
part.

Witnesseth as follows
Whereas the party of the first part has acquired and is about to
acquire certain oil lands and properties in the state of Texas
for the purpose of its oil business upon which is standing
yellow pine and other timber and the party of the second part
desires to contract for the purchase of the yellow pine timber
situated and standing upon said lands so aquired and to be
acquired - up to the aggregate of Eight billion feet - at the prices
upon the terms and subject to the conditions hereafter mentioned

Now this agreement witnesseth.
First the part of the first part hereby agrees to sell to the party of
the second part and his assigns - the yellow pine timber now standing
and being upon lands as aforesaid - situated in the following
counties in the state of Texas and elsewhere - Viz. San Augustine,
Sabine, Angelina, Hardin, Polk, Tyler, Jasper, Newton and Orange
in Texas and Calcasieu Parish in Louisiana - as particularly men-
tioned and described in a schedule thereof hereto annexed and made
part hereof. The timber on the above lands herby agreed to be sold
to the party of the second part is the merchantable yellow pine trees
and timber thereon in diameter twelve (12) inches and upwards at the
stump at the time of cutting whether said timber be standing or
growing upon said lands or be down as by the hand of Providence
not exceeding in the aggregate Eight billion feet sherring or
Beaumont measurement.

It is hereby expressly understood and agreed that in the event
the party of the first part shall fail to acquire all the lands
mentioned and described above and in the schedule annexed by
reason of failure of title or otherwise and shall be unable to deliver
the entire Eight billion feet above specified the party of the second part
shall be entitled only to such and so much of said quanity as
said party of the first part shall be able to furnish from such
of the lands above mentioned which it may acquire and said party of
the first part shall be in no wise responsible or liable in the
premises by reason of such failure.

Second. The party of the second part agrees to purchase and pay
for the said yellow pine timber at and after the rate of $300 per
thousand feet for the first 350,000,000 feet: $3.50 per thousand
feet for the next 350,000,000 feet: $4.00 per thousand feet for the
next 350,000,000 feet; $4.50 per thousand feet for the next 350,000,000 feet