quantity of tobacco each year; but he shall deliver all the tobacco produced by or for him. You Deliver All the Tobacco You Raise. be 13. (a) This agreement shall binding upon the Grower as long as he produces tobacco directly or indirectly, or has the legal right to exercise control of any commercial tobacco or any interest therein as a producer or landlord during the term of this contract. (b) If this agreement is signed by the members of a co-partnership it shall apply to them and each of them individually in the event of the dissolution or termination of the said co-partnership. You May Make a Crop Mortgage The Association Will Try to Hely (c) If the Grower places a crop mortgage upon any of his crops during the term hereof, the Association shall have the right to take delivery of his tobacco and to pay off all or part of the crop mortgage for the account of the Grower and to charge the same against him individually. The Grower shall notify the Association prior to making any crop mortgage and the Association will assist the Grower in any such trans action as far as it deems proper. Statistics Are Needed. time to time the 14. From Grower agrees to mail to the Association any statistical data request ed, on the forms provided for that purpose by the Association. All Contracts Are Alike. 15. This agreement is one of a in terms series generally similar comprising with and the all such agreements, signed by individual growers, or otherwise, one single contract between the Association said Growers annually and individof the ually obligated under all terms thereof. The Association shall be deemed to be acting in its own name for all such growers in any action or legal proceedings on or arising out of this contract. cotton or any interest therein during the terms of this contract. (b) If this agreement is signed by the members of a copartnership it shall apply to them and each of them individually in the event of the dissolution or determination of the said copartnership. (c) If the Grower places a crop mortgage upon any of his crops during the term hereof, the Association shall have the right to take delivery of his cotton and to pay off all or part of the crop mortgage for the account of the Grower and to charge the same against him individually. The Grower shall notify the Association prior to making any crop mortgage, and the Association will advise the Grower in any such transactions. 14. From time to time the Grower agrees to mail to the Association any the statistical data requested, on forms provided for that purpose by the Association. 15. This agreement is one of a series generally similar in terms, comprising with all such agreements, signed by individual Growers, or otherwise, one single contract between the Association and the said Growers, mutually and individually obligated under all of the terms thereof. The Association shall be deemed to be acting in its name, for all such Growers, in any action or legal proceedings on arising out of this contract. own ΟΙ ex 16. (a) The Grower hereby pressly authorizes the Association to deliver to any warehousing corporation organized for co-operation with this Association, any or all of his cotton for handling, processing or storing, and to charge against his cotton the prorated costs of such services and his prorated share of the funds necessary to create a reserve, equivalent to one class of its preferred stock annually, plus bonus, to retire the said class, and to pay the interest on advances and the dividends on all outstanding preferred stock. The Grower Authorizes the Associa tion to Build Curing or Re-Drying Plants If It Needs Them. 16. (a) The Grower hereby expressly authorizes the Association to deliver to any warehousing or other corporation organized for co-operation with this Association, any or all of his tobacco for handling, processing, or manufacturing, or stor ing; and to charge against his tobacco and his prorated share of the funds necessary to create a reserve equivalent to one class of its preferred stock annually plus bonus, to retire the said class; and to pay the dividends on all outstanding stock thereof. (b) The Grower shall be charged for such deductions only on account of warehouses or plants within his district or within his benefit, as determined by the Association; and for such deductions the Grower shall receive a proportionate interest in such corporation. Any Old Crop Tobacco May Be De livered to the Association to Sell. 17. If the Grower has on hand on July 1, 1922, any tobacco of the 1920 or any crops, free of liens and capable of delivery, he shall deliver such tobacco to the Association, as it may direct, to be graded by the Association, and marketed by it, in pools wholly separate from all other deliveries hereunder, but generally in the manner here set forth. Do Not Break the Contract-This Is Expensive. 18. (a) Inasmuch as the remedy at law would be inadequate; and inasmuch as it is now and ever will be impracticable and extremely difficult to determine the actual damage resulting to the Association should the Grower fail so to sell and deliver all of his tobacco, the Grower hereby agrees to pay to the Association for all tobacco delivered, consigned or marketed or withheld by or for him other than in accordance with the terms hereof, the sum of five cents (b) The Grower shall not be charged for such deductions except on account of warehouses within his immediate district, as determined by the Association; and for such deductions the Grower shall receive a proportionate interest in such warehouses. Terminal plants shall be chargeable against all Growers. 17. If the Grower has on hand any cotton of the 1921 or previous crops free of liens and capable of delivery, he shall deliver such cot ton to the Association as it may direct, to be graded by the Association and marketed by it in pools wholly separate from all other deliveries here made but generally in the manner hereinabove set forth. 18. (a) Inasmuch as the remedy at law would be inadequate, and inasmuch as it is now and ever will be impracticable and extremely difficult to determine the actual damage resulting to the Association, should the Grower fail so to sell and deliver all of his cotton, the Grower hereby agrees to pay to the Associa tion for all cotton delivered, sold, consigned, withheld or marketed by or for him, other than in accordance with the terms hereof, the sum of 5 cents a pound, as liquidated damages for the breach of this contract, all parties agreeing that this contract is one of a series dependent for its true value upon the adherence of each and all of the growers to each and all of the said contracts. (b) The Grower agrees that in the event of a breach or threatened breach by him of any provision re garding delivery of cotton, the Association shall be entitled to an injunction to prevent breach or further breach hereof, and to a decree for specific performance hereof; and the parties agree that this is a contract for the purchase and sale of personal property under special circumstances and conditions and that the buyer cannot go to the open market and buy cotton to replace any which the Grower may fail to deliver. per pound as liquidated damages, averaged for all types and grades of tobacco, for the breach of this contract; all parties agreeing that this contract is one of a series dependent for its true value upon the adhe. rance of each and all of the growers to each and all of the said contracts. We Will Get His Tobacco Anyway. (b) The Grower agrees that in the Violators Pay the Costs of Fighting (c) If the Association brings any The Contract Is Complete on Its ог 19. The parties agree that there other conditions, are no oral promises, covenants, representations or inducements in addition to or at variance with any of the terms hereof; and that this agreement represents the voluntary and clear understanding of both parties fully and completely. (c) If the Association brings any action whatsoever, by reason of a breach or threatened breach hereof, the Grower agrees to pay to the Association all costs of court, costs for bonds and otherwise, expenses of travel and all expenses arising out of or caused by the litigation and any reasonable attorney's fees expended or incurred by it in such proceedings; and all such costs and expenses shall be included in the judgment and shall be entitled to the benefit of any lien securing any payment thereunder. 19. The Association is expressly authorized to exercise any or all of the grading, inspecting, marketing or other powers or rights granted central hereunder through any agency to be organized for co-ordinating the activities of this and similar co-operative marketing asThe Associations in other states. sociation shall, if possible, enter into any contract for such purpose and may agree to pool the products delivered hereunder with products of similar variety, grade and quality delivered to generally similar Associations under marketing agreements substantially the same in effect as this agreement; and to unite with any such Associations in the joint purchase, construction, lease, or use of terminal or other facilities, and to assume obligations therefor. Any costs of maintaining such central agency shall be prorated among the said Associations on the basis of the gross sale proceeds from the products delivered by them respectively and shall be considered part of the costs and deductions provided for in paragraph 6. The Association agrees to assist in forming such central agency as soon three similar Associations organized in the United States. as are Read, considered and signed by the Grower, as of the date determined by the Association Contract, in the State of North Carolina. Adrian v. McCaskill, 103 N. C. 182, 9 S. E. 284 ....199, 204, 214 Alexander v. Farrow, 151 N. C. 320, 66 S. E. 209 Alexander v. Metropolitan Life Allen Fleming Co. v. Southern Alpha Mills V. Watertown 97 325 30 Atlantic Coast Line R. Co. v. Spencer, 166 N. C. 522, 82 S. E. 851 Attorney-General v. Bank, 21 N. C. 545 Attorney General v. Holly Shelter R. Co., 134 N. C. 481, 46 S. E. 959. Attorney General v. Petersburg & Roanoke R. Co., 28 N. C. 456 Page B. 42 .... 195, 205 Baker v. Atlantic Coast Line 75 43 33 .88, 102 158 American Nat. Bank v. Savannah Trust Co., 177 N. C. 254, 98 S. E. 595 220 196 Anthony v. Jeffress, 172 N. C. 378, 90 S. E. 414 Antietam Paper Co. v. Chronicle Publishing Co., 115 N. C. 143, 20 S. E. 366 44 193, 231, 232 Bank of New Hanover v. Bridgers, 98 N. C. 67, 3 S. E. 826.. 195 Hatcher, Bank of Sampson v. 151 N. C. 359, 66 S. E. 308 .... 188, 201, 206 Bank of U. S. v. Lane, 10 N. C. 453 Barber v. W. M. Absher Co., 175 N. C. 602, 96 S. E. 43 Barcello v. Hapgood, 118 N. C. 712, 24 S. E. 124 223 219 .36, 83 |