agreement

Agreement
These articles of agreement made this 26th day of March, A.D. 1918, by and between Hans Ebbe of Waupaca, Wisconsin, party ofthe first part; Albert Johnson of Marshfield, Wisconsin, party of the second part; and John E. Johnson of Marshfield, Wisconsin, party of the third part; l. WITTESSETH: That whereas, said parties are the jointowners of two residences in the City of Marshfield, Wisconsin, which are rented by the, to tenants,2. And whereas, said parties have conducted coal, produce, flour and feed business at the City of Marshfield, Wisconsin, for a number of years as partners under the firm name of H. Ebbe & Co.;said party of the first part owning the real estate and warehouse, and all of said parties being the owners of the personal property used in the operation of said business; and at this time it being the desire of said parties to reduce to writing the agreement under which they have been operating; 3. NOW THEREFORE it is hereby agreed between said parties that on the 1st day of July, 1917, said first party had invested in said business; including the warehouse and real estate connected therewith and said residences, the sum of Seventeen Thousand ($17,000,00) Dollars. That said second party had invested in said business and said residences the sum of $14,775.35. That said third party had invested in said business and said residences the sum of $14,775.35. 4. It is further agreed that the said second and third parties shall each be paid a salary of $10.00 per week for their services connected with said business, and that said first party shall continue to assist in running said business in the future, as he has done in the past, without salary. 5, It is further agreed that on the lst day of July, 1918, and each year after while said Co-Partnership continues, said parties shall make a statement showing the actual condition of the business on that date, allowing each party 6% interest on the money he has invested for the preceding year, and the said interest shall be paid to each party at that times, and the net profits of the business at that time shall be equally divided among the said three parties, and paid or credited to them in the business; and that any of said parties may draw out such sums of the principal invested by him at any time as may be agreed upon by the parties. 6. That in case of the demise of any of said parties, is it hereby agreed that the surviving partners shall have the first option to purchase the share of the deceased partner, for the price shown in the books of the Co-Partnership to have been invested in said partnership business on the lst day of the preceding July by said deceased partner. It being agreed that the books shall be balanced down to the date of the death of the deceased partner, and whatever profits there are shall be paid to the estate of said partner, and if any losses there be, the same shall be charged to his estate. 7. This agreement is to be binding on each party, and each of their heirs, executors and administrators. WHEREFORE, in consideration of the premises, the above named parties have hereunto set their hands and seals the day and year first above written, This is a re-creation of the agreement originally typed on legal size paper. The original was two separate pages

Return to Ebbe Co. page

These articles of agreement made this 26th day of March, A.D. 1918, by and between Hans Ebbe of Waupaca, Wisconsin, party ofthe first part; Albert Johnson of Marshfield, Wisconsin, party of the second part; and John E. Johnson of Marshfield, Wisconsin, party of the third part;

l. WITTESSETH: That whereas, said parties are the jointowners of two residences in the City of Marshfield, Wisconsin, which are rented by the, to tenants,2. And whereas, said parties have conducted coal, produce, flour and feed business at the City of Marshfield, Wisconsin, for a number of years as partners under the firm name of H. Ebbe & Co.;said party of the first part owning the real estate and warehouse, and all of said parties being the owners of the personal property used in the operation of said business; and at this time it being the desire of said parties to reduce to writing the agreement under which they have been operating;

3. NOW THEREFORE it is hereby agreed between said parties that on the 1st day of July, 1917, said first party had invested in said business; including the warehouse and real estate connected therewith and said residences, the sum of Seventeen Thousand ($17,000,00) Dollars.

That said second party had invested in said business and said residences the sum of $14,775.35.

That said third party had invested in said business and said residences the sum of $14,775.35.

4. It is further agreed that the said second and third parties shall each be paid a salary of $10.00 per week for their services connected with said business, and that said first party shall continue to assist in running said business in the future, as he has done in the past, without salary.

5, It is further agreed that on the lst day of July, 1918, and each year after while said Co-Partnership continues, said parties shall make a statement showing the actual condition of the business on that date, allowing each party 6% interest on the money he has invested for the preceding year, and the said interest shall be paid to each party at that times, and the net profits of the business at that time shall be equally divided among the said three parties, and paid or credited to them in the business; and that any of said parties may draw out such sums of the principal invested by him at any time as may be agreed upon by the parties.

6. That in case of the demise of any of said parties, is it hereby agreed that the surviving partners shall have the first option to purchase the share of the deceased partner, for the price shown in the books of the Co-Partnership to have been invested in said partnership business on the lst day of the preceding July by said deceased partner. It being agreed that the books shall be balanced down to the date of the death of the deceased partner, and whatever profits there are shall be paid to the estate of said partner, and if any losses there be, the same shall be charged to his estate.

7. This agreement is to be binding on each party, and each of their heirs, executors and administrators.

WHEREFORE, in consideration of the premises, the above named parties have hereunto set their hands and seals the day and year first above written,

sign
This is a re-creation of the agreement originally typed on legal size paper. The original was two separate pages