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LEASE AGREEMENT <br />THIS AGREEMENT made and entered into this day of <br />1960, by and between the CITY OF BATESVILLF4 <br />ARKANSAS (hereinafter referred to as "Lessor") and BATESVILLE <br />RUBBER COMPANY, an Arkansas corporation, with its principal offices <br />in Batesville, A:olransas (hereinafter referred to as "Lessee"), <br />W I T N E S S E T H: <br />WHEPEAS, the Lessor is a duly existing municipality, a <br />city of the fir^s;, class, with full power and authority under the <br />laws of the State of Arkansas to enter into all of the terms and <br />conditions of this agreement, and the Lessor, acting by and through <br />its duly authorized Mayor and City Clerk, is authorized to enter <br />into this agreement in furtherance of the best interests of the <br />citizens of Lessor and Independence County, Arkansas, to provide <br />employment for considerable numbers of persons and to add to the <br />welfare and prosperity of said persons, of Lessor and of <br />Independence County; and <br />WHEREAS, the Lessor has acqui-red the fee simple title <br />to certain real estate in Independence County, Arkansas, described <br />in Section 201 (a) hereof, (hereinafter sometimes referred to as <br />the "site"); and <br />WHEREAS, Lessor proposes to construct factory buildings <br />and manufacturing facilities thereon and purchase and install <br />necessary machinery and equipment thereon (which, together with <br />the site, will be hereinafter sometimes referred to as the <br />"project"); and <br />WHEREAS, the Lessee is willing to lease said project <br />under the terms and conditions set forth in this agreement; and <br />WHEREAS, the Lessee is a duly organized and existing <br />corporation under the laws of the State of Arkansas and is a wholly <br />owned subsidiary of Seiberling Rubber Company, a Delaware corpora- <br />tion, with its principal offices in Barberton, Ohio (hereinafter <br />referred to as "Seiberling"), and Seiberling has agreed to and will <br />by a separate instrument executed contemporaneously herewith <br />unconditionally guarantee the performance by the Lessee of all its <br />covenants and obligations in this Lease Agreement set forth and <br />