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and creditors of said Bank, entered into a contract of settlement with the said O. L. Copeland, subject to the approval of said District Court, adjusting and settling the liability of said O. L. Copeland as a partner and shareholder in said Bank, to said Receiver and said depositors and creditors of said Bank. You are further notifled that by the terms of said contract of settlement the said O. L. Copeland has agreed to endorse, transfer, and deliver to said Receiver, promissory notes owned and held by him in the aggregate principal sum of approximately Thirty-one Thousand Eight Hundred ($31,838.00) Dollars, and further to release to said Receiver any and all claim as a depositor in said Bank including his one-half interest, less offset, in the Copeaccount in said Bank, and that said O. L. Copeland has agreed to convey to said Receiver the following described real estate, to-wit: Lot 158 in the Original Town of Lenox, Iowa, and Lot Number 230 in the Original Town of Lenox, Iowa. Further, that by said Contract it is agreed that on the conveyance and transfer of said property hereinbefore described to said Receiver by the said O. Copeland the same shall constitute a full settlement of all claims of every kind and character which the Receiver of said Bank and the depositors and creditors thereof have or might have against the said L. Copeland. That further by the said contract of settlement it is agreed that the Receiver and the depositors and creditors of said Bank shall release all claim to the equity in the farm of the said O. L. Copeland in Linn County, Missouri, and his undivided one-half interest in Lots 227 and 228 in the Original Town of Lenox, Iowa. For further particulars you are referred to said petition and application on file with copy of said stipulation attached thereto.
You are further notified that said application and petition of said Receiver and said contract of settlement of the liabilities of L. Copeland to the said receiver and to the depositors and creditors of said Bank will come for hearing before the District Court of Taylor County, Iowa, in the court room in the Court House at Bedford, Iowa, on February 17th, 1931, at 9 o'clock A. M. and that unless objections in writing are filed application and petition and contract of settlement between the said Receiver and the said O. L. Copeland on or before said date and hour, an order will be entered as prayed for in said petition and application approving said contract of settlement between said Receiver and said O. L. Copeland and all other relief granted as prayed for in said application and petition. W. H. PAIGE, Receiver of the Farmers & Merchants Bank, Lenox, Ia. James R. Locke, Attorney for Said Receiver.
District Court of Taylor County, Iowa, the petition and application of W. H. Paige, Receiver for the Farmers & Merchants Bank of Lenox, Iowa, asking for an order of Court approving a certain contract of settlement entered into February 4th, 1931, by and between said Receiver and William R. Bennison and Fred W. Bennison, wherein said Receiver as such receiver and for and in behalf of the individual depositors and creditors of said Bank, entered into a contract of settlement with the said William R. Bennison and Fred W Bennison, subject to the approval of said District Court, adjusting and settling the liability of said William R. Bennison and Fred W Bennison, as partners and shareholders in said Bank, to said Receiver and said depositors and creditors of said Bank. You are further notified that by the terms of said contract of settlement. the said William R. Bennison and Fred W. Bennison have agreed to pay to said Receiver the sum of Six Thousand ($6,000.00) Dollars in cash on or before the 15th day of March, 1931, and further to relinquish and release to the said receiver any and all claims as depositors which they hold-against said Bank and said Receiver That further, by said application and petition for the approval of said contract of settlement, the said receiver has agreed to accept said sum of Six Thousand ($6,000.00) Dollars and the release of said claims of said depositors, William R. Bennison and Fred W. Bennison in full settlement of all liability of said William R. Bennison and Fred W. Bennison as shareholders and partners-in the Farmers & Merchants Bank of Lenox, Iowa and that by said contract of settlement it is agreed that by said payment of said sum of Six Thousand Dollars and the release of their deposits in said Bank, the said William R. Bennison and Fred W. Bennison shall released from all further liability to said receiver and to said depositors and creditors of said Bank. You are further notified that for further particulars you are referred to said petition and application on file with copy of said stipulation attached thereto.
You are further notified that said application and petition of said Receiver and said contract of settlement of the liabilities of William R. Bennison and Fred W. Bennison to the said receiver and to the depositors and creditors of said Bank will come on for hearing before the District Court of Taylor County, Iowa, in the Court room in the Court House at Bedford, Iowa, on February 17th, 1931, at 9 o'clock A. M. and that unless objections in writing are filed to said application and petition and contract of settlement between the said Receiver and the said William R. Bennison and Fred W. Bennison on or before said date and hour, an order will be entered as prayed for in said petition and application approving said contract of settlement between said Receiver and said William R. Bennison and Fred W. Bennison, and all other relief granted as prayed for in said application and petition.
W. H. PAIGE, Receiver of the Farmers & Merchants Bank, Lenox, Ia. James R. Locke, Attorney for Said Receiver.