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�w <br /> CONTRACT <br /> THIS AGREEMENT made this 91 day of October, 1981, between the <br /> City of Batesville, a municipal corporation and existing under the laws of <br /> the State of Arkansas, hereinafter referred to as Party of the First Part <br /> and, Hassell Myers, Bob Slaughter, R. E. Bell , Edward L. House, Lynn Lanier <br /> and Mrs. Earl Landers all of Batesville, Independence County, Arkansas , <br /> hereinafter referred to as Parties of the Second Part, witnesseth: <br /> WHEREAS, the Party of the First Part, in an attempt to make its <br /> streets safe and attractive has adopted a policy of paying for the install- <br /> ation and maintenance of street lights on the city streets; and, <br /> WHEREAS, the Parties of the Second Part, citizens of Batesville, <br /> residing on Briar Drive, desires to have Briar Drive equipped with street <br /> lights; and, <br /> WHEREAS, the Party of the First Part would install no more than <br /> three such street lights free of charge, the Party of the First Part and <br /> Parties of the Second Part have entered into this agreement whereby Briar <br /> Drive would be allowed six such street lights but only upon the condition <br /> and terms of this agreement. <br /> NOW, THEREFORE, the parties hereto in consideration of the mutual <br /> promisesand valuable considerations certify and agree: <br /> 1. That the Parties of the Second Part agree to give to Party <br /> of the First Part six street lights, six light poles and all other necessary <br /> equipment required for the operation of the said street lights. Furthermore, <br /> Parties of the Second Part agree to provide the necessary excavations for <br /> underground wiring. <br /> 2. That the Parties of the Second Part agree to pay the sum of <br /> Five Dollars ($5.00) per month for three of the said street lights, in ad- <br /> vance for the year 1981. That the,parties agree that the cost of operation <br /> for these three street lights will be determined upon a mutual basis for <br /> each year thereafter with the sum agreed upon payable in advance. In all <br /> such future determinations of costs, actual , actual cost of operation will <br /> be taken into account including cost of fuel adjustments. If the parties <br /> should fail to meet or establish a cost of operation figure, it will remain <br /> at $5.00 per month plus cost of fuel adjustments and electric rate increases. <br /> 3. Parties of the Second Part agree that they shall be responsible <br />