Satisfaction of Mortgage.

New York Form.

I do hereby certify that a certain indenture of mortgage bear

ing date the

day of

clerk of the county of

on the day of

utes A. M., is with the bond accompanying it fully paid and satAnd I do hereby consent that the same be discharged of Dated the

isfied. record.

day of, 18-.

day of

dollars, 18-, re

book

the said party of the third part, in order to secure to the said party of the second part the payment of the sum of did, by his deed bearing date on the corded in the office of the clerk of the county of page, convey to the said parties of the first part, their heirs and assigns, a certain parcel of real estate described in the said deed as follows, etc.; and the said sum of money having been fully paid to the said party of the second part, he, the said party of the second part, has requested that the estate conveyed by the said deed of trust to the said parties of the first part in the said property herein before mentioned and described be now released to him, the said party of the third part: this deed, therefore, witnesseth, that for and in consideration of the premises, as well as of the sum of five dollars, the said parties of the first part, with the consent of the said party of the second part, signified by his signing and sealing this deed, do release to the said party of the third part all his claim upon the said property. Witness the following signatures and seals.

The Railroad Company promises to pay to bearer, if not registered, or to the registered owner hereof, if registered, the sum of one thousand dollars, at the agency of the said company in the city of in lawful gold coin of the United States of America, of the present standard of weight and fineness, on the first day of in the year

with interest thereon in the per cent. per annum, payable

mean time at the rate of semi-annually, in like gold coin, at the same place, on the surrender of the annexed coupons, or, if registered, to the regis tered owner hereof.

This bond is one of a series of this date, aggregating million dollars, each for one thousand dollars, numbered from one onward consecutively, secured by and subject to all the provisions of a mortgage deed of trust, dated the day of

eighteen hundred and

conveying and assigning to the

Trust Company of as trustee, all the entire railways, rolling stock, equipment, franchises, leaseholds, lands and land grants, property, and income of said company, as specified in said deed of trust.

This bond may, upon surrender for cancellation of the unmatured coupons, be registered upon the books kept by said railroad company for the purpose, at its agency in, which registration shall be noted by indorsement hereon, after which registration the interest shall be payable only to the registered holder thereof, and the bond shall be transferable only in writing upon said books at such agency by the registered holder or his lawful attorney, and such transfer shall be noted by indorsement hereon.

This bond is not to become obligatory on the company until the certificate indorsed hereon is signed by the trustee.

In testimony whereof the said company has hereunto affixed

its corporate seal, and caused the same to be attested by its president, on the

18-.

day of

Form of Coupon.

$

On the first day of, 18, the

will pay to bearer, at its office in the city of

No.
Railroad Company

dollars in lawful money, being the interest due that day on bond No. (unless said bond be previously called in as provided in the mortgage).1 Treasurer.

Grant and Description of Property.

Now, therefore, this indenture witnesseth, that the said Railroad Company, in consideration of the premises, and the sum of five dollars to it in hand paid by said parties of the scond part, the receipt whereof is hereby acknowledged, and in order to secure the due and punctual payment of the principal and interest of the bonds aforesaid to the amount of dollars, to be issued or which may be issued as herein before mentioned, has granted, bargained, sold, assigned, set over, released, conveyed, and confirmed, and by these presents does grant, bargain, sell, assign, set over, release, convey, and confirm, unto the said parties of the second part, as trustees as aforesaid, and to their successors and assigns, forever, all the right, title, and interest of the said party of the first part in and to all the railroad and property now owned or hereafter to be acquired by the party of the first part, and all its estate, right, title, interest, and equity of redemption therein, that is to say, all of its railroad now made and in operation, and constructed or yet to be constructed as aforesaid, including the right of way, roadbed, superstructure, iron, ties,

1 In case the mortgage provides for calling in bonds for redemption, the interest thereon to cease after a certain date named in the call, it is important to add the concluding clause in this form. The form of coupon generally in use does not protect the company from a liability to pay the interest represented by the coupons on bonds called in for redemption, if the holder of the bonds chooses to detach the coupons and sell them, for value, to a purchaser without notice that the bouds have been called in, and that interest was no longer payable thereon. Hence, if the mortgage provides for calling in bonds for redemption, there should be added the words, in substance, “unless said bond be previously called in as provided in the mortgage." Although the addition of these words to the form of coupon doubtless renders it a non-negoti able instrument, yet it protects the company in the case supposed.

splices, chairs, bolts, nuts, and spikes; all lands and depot grounds, station-houses, and depots, viaducts, bridges, timber, materials, and property purchased or to be purchased for the construction, equipment, or operation of said road; all machine-shops, tools, implements, and personal property used thereon, or upon or along the line of said railroad, or at its stations; all engines, tenders, cars, and machinery, and all kinds of rolling stock, whether now owned or hereafter purchased by said party of the first part, and all other property of said company, and all its rights and privileges therein or appertaining thereto, and all the revenues, tolls, and income of said railroad and property, and all the franchises and rights of said party of the first part, and all property and rights acquired by virtue and under authority thereof, now owned or hereafter to be acquired.

Description of Land Grant mortgaged.

Also all the lands granted by the Congress of the United States to aid in the construction and equipment of said railroad, being acres of land per mile of said main line and branch through the territories of the United States, and acres per mile when the line passes through any state, and situate and being in the states of and - and the territories of and, with the hereditaments and appurtenances thereto belonging or in any wise appertaining; except such of said lands as the said party of the first part has sold and disposed of to aid in the construction and equipment of those parts of said main line and branch heretofore constructed and now being constructed, as hereinbefore mentioned; and all the estate, right, title, interest, claim, and demand whatsoever, which the said party of the first part now has, or may at any time hereafter acquire or become entitled to, of, in, and to all the lands aforesaid, and also all the indemnity lands, wherever the same may be situated, that shall or may be acquired to supply deficiencies in the quantities of said granted lands, in pursuance of, and in accordance with, the terms and provisions of said grants; subject, however, as to the lands in the state of and territory of, until any default shall occur in some of the provisions of the bonds hereby secured, to the right of the holders of the preferred stock of the said railroad company to convert their stock into said lands, and to the application of the proceeds thereof to the extinguishment of such stock; and subject, also, to the pro

visions and conditions of the said mortgages on the said and divisions of said railroad, as hereinbefore mentioned.

Subject to Existing Mortgages which are to be paid off from Proceeds. Subject, nevertheless, as to so much of said railroad line heretofore constructed and firstly hereinbefore described, the equipments, franchises, and other property appertaining thereto, as is embraced within the deed of trust firstly herein before mentioned, bearing date the day of, 18, to the lien by said trust deed created; subject, also, as to so much of said railroad line heretofore constructed and firstly hereinbefore described, the equipments, franchises, and other property appertaining thereto, as is embraced within the deed of trust secondly hereinbefore mentioned, bearing date the day of, 18—, to the lien by said last mentioned trust deed created: provided, however, and it is the true intent and meaning of these presents, and hereby declared to be, that these presents shall be and constitute a first lien on all the railroad property and premises present and future which the said company now owns or may hereafter acquire, and on account whereof bonds secured hereby may or shall be issued, or that may be acquired with the proceeds of bonds issued hereunder and not embraced within said several deeds of trust, and a second lien on the property therein embraced until the bonds of said company, heretofore issued as aforesaid, shall be exchanged for bonds to be issued under and secured by these presents, or be paid off by the proceeds thereof.

Reservations and Exceptions.

Hereby specifically excluding and excepting from this mortgage, and from the lien and provisions thereof, property of the party of the first part, as follows, etc.

Habendum in Trust.

To have and to hold the above described and hereby granted property, rights, franchises, and appurtenances, unto the said parties of the second part, their successors and assigns, forever, for the only proper use, benefit, and behoof of said parties of the second part, their successors and assigns.

In trust, nevertheless, for the equal pro rata benefit and security of all of the holders of any of the above mentioned bonds, at what period soever the same may be issued, without any pref