Woodruff v. Semi-Tropic Land & Water Co.

Foote, C. The plaintiffs obtained judgment against the defendant for the sum of $3,405.75, and costs. From that judgment this appeal is prosecuted on the judgment roll.

The parties hereto entered into the following contract:—

“This agreement, made and entered into the twenty-fifth day of August, in the year of our Lord one thousand .eight hundred and eighty-seven, between the Semi-Tropic Land and Water Company, a corporation, party of the first part, and Jesse W. Woodruff and George E. Baldwin, of the city and- county of San Bernardino, state of California, the parties of the second part, witnesseth,—

“That said party of the first part, in pursuance of a resolution of the board of directors of said corporation, duly passed, authorizing this agreement, and in consideration of the covenants and agreements- on the part of the said parties of the second part hereinafter contained, agrees to sell and convey unto the said parties of tlve second [277]part all that certain lot or parcel of land situated in the county of San Bernardino and state of California, and bounded and more particularly described as follows, to vrit: Farm block 28, containing 20.6 acres (more or less) in accordance with the map of the town of Rialto and adjoining subdivisions, as recorded in the office of the ¡recorder of deeds in and for San Bernardino County, California, 18—, book —, page —.

" The party of the first part reserves from the premises above agreed to be sold the right of way to enter upon, to ditch., and to lay pipes for the distribution of water. And the said party of the first part agrees to sell said property for the sum of four thousand twelve dollars, gold coin of the United States, and the said parties of the second part, in consideration of the premises, agree to pay it© said party of the first part, the said sum of four thousand twelve dollars, gold coin, as follows, to wit; thirteen hundred thirty-eight dollars cash, on delivery of this agreement, receipt of which sum is hereby acknowledged tby party of the first part; thirteen hundred thirty-seven dollars on or before August 25, 1888; thirteen hundred thirty-seven dollars on or before August 25, 1889, with interest payable semi-annually upon the deferred payments at the rate -of eight per cent per annum; and if any part of the principal or interest be now [not] paid when due, it shall thereafter bear interest at the rate of twelve per cent per annum until fully paid, according to the-terms of two certain promissory notes of said second parties, of even date herewith, made in favor of said party of the first part, and payable at the Los Angeles National Bank, in Los Angeles, California.