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4r„W 1400,
<br />SECOND AMENDMENT OF AND
<br />SUPPLEMENT TO LEASE
<br />T is SECOND AMENDM NT OF AND SUPPLEMENT TO LEASE made as
<br />of the day of 1982, by and between the City of
<br />Batesville, Arkansas, a city of the first class duly existing
<br />under the laws of the State of Arkansas (the "City" or the
<br />"Lessor"), and Emerson Electric Co., a Missouri corporation (the
<br />"Lessee"):
<br />WITNESSETH:
<br />WHEREAS, under date of January 27, 1961, Independence
<br />County, Arkansas Industrial Development Corporation, an Arkansas
<br />corporation (the "Corporation"), as lessor, entered into a lease
<br />with White -Rodgers Company, a Delaware corporation ("White -
<br />Rodgers"), as lessee, which lease is recorded in Lease and
<br />Contract Book 15, pages 316 to 365, of the records of the Circuit
<br />Clerk and Ex -Officio Recorder of Independence County, Arkansas
<br />(the "Lease"); and
<br />WHEREAS, the City pursuant to the authority granted
<br />under the provisions of Act No. 9 of the First Extraordinary
<br />Session of the Sixty -Second General Assembly of the State of
<br />Arkansas, approved January 21, 1960, as amended (the "Act"), did
<br />take from the Corporation a conveyance of the properties demised
<br />by the Lease and an assignment of the Corporation's rights, duties
<br />and obligations under the Lease, both dated March 1, 1961; and
<br />WHEREAS, pursuant to the authority granted under the
<br />provisions of the Act, the City issued its Industrial Development
<br />Revenue Bonds, dated February 1, 1961, in the aggregate principal
<br />amount of $1,500,000 (the "Bonds") to provide permanent financing
<br />of the costs of acquiring, constructing and equipping a
<br />manufacturing plant for use by White -Rodgers, as lessee under the
<br />Lease; and
<br />WHEREAS, White -Rodgers assigned all of its right, title
<br />and interest in and to the Lease to the Lessee, pursuant to an
<br />Amendment of and Supplement to Lease and Assignment Thereof, by
<br />and among the City, the Lessee and White -Rodgers (the "Amendment
<br />of and Supplement to Lease and Assignment Thereof"); and
<br />WHEREAS, the principal of, premium, if any, and
<br />interest on the Bonds has been paid in full by the City or
<br />provision made therefor from rentals paid by the Lessee under the
<br />Lease; and
<br />WHEREAS, The First National Bank in Little Rock, Little
<br />Rock, Arkansas (the "Trustee"), has released the lien of the Trust
<br />
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