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i <br /> A G R E E M E N T <br /> WHEREAS, Batesville Rubber Company ( "BRC") has exercised <br /> its option to purchase the premises presently leased by the City <br /> of Batesville ( "CITY") , to BRC and the closing of this purchase <br /> was intended to occur on May 1, 1978; <br /> WHEREAS, subsequent to the exercise of this option and <br /> prior to May 1, 1978, the parties hereto learned of certain liens <br /> and judgments against Arkansas Technical Industries ( "ATI") , forme - <br /> sub-lessee of the premises , which affect title to the premises ; <br /> and <br /> WHEREAS, it is in the best interest of the parties here- <br /> to that the closing of this purchase be postponed from May 1, 1978, <br /> in order that appropriate action be taken to litigate any such <br /> claims affecting title to the premises . <br /> NOW, THEREFORE, the parties for a valuable consideration <br /> agree as follows : <br /> 1. In consideration of the mutual benefits to the City <br /> and BRC, they do hereby agree that the closing of the purchase <br /> of the premises in accordance with the lease purchase option <br /> previously exercised by BRC is hereby postponed from May 1, 19783 <br /> to October 1, 1978, provided, however, that such closing date <br /> may be extended by the mutual consent of the parties hereto, if <br /> the litigation of the claims involving the title to these premises <br /> is not concluded on or before October 1, 1978 . <br /> 2 . The parties further agree that BRC, at its sole <br /> expense, will institute, as soon as possible, appropriate <br /> litigation to eliminate any claims affecting the title to the <br /> premises and the City will join as a partyin such litigation for <br /> that purpose . <br /> 3 . It is expressly understood that no sumsshall be due <br /> in connection with the lease or purchase during this postponement <br /> or any extension thereof. <br />