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A G R E E M E N T <br />THIS AGREEMENT made and entered into this day of <br />, 1960 by and between the CITY OF BATESVILLE, <br />ARKANSAS (herein called "City") and INDEPENDENCE COUNTY, ARKANSAS <br />(herein called "County"), <br />WITRMSSE'IT.: <br />WHEREAS, the City and the County have cooperated in secur- <br />ing an industry which will substantially benefit both parties hereto <br />and the citizens of both; and <br />WHEREAS, the industrial project involved consists of the <br />acquisition of lands, the construction on said lands of factory build- <br />ings and manufacturing facilities, the purchase and installation of <br />necessary machinery and equipment, and all other items included in the <br />term "project costs" as defined in Section 108 of the Lease Agreement, <br />hereinafter described (herein called the "project"); and <br />WHEREAS, arrangements have been made for the leasing of the <br />project to Batesville Rubber Company, an Arkansas corporation (herein <br />called "Batesville Rubber") and a wholly owned subsidiary of Seiber- <br />ling Rubber Company, a Delaware corporation (herein called "Seiber- <br />ling"); and Seiberling will unconditionally guarantee the performance <br />by Batesville Rubber of all its covenants and obligations under the <br />said lease; and <br />WHEREAS, in order to finance the cost of the project (except <br />for the portion to be furnished by Batesville Rubber), necessary ex- <br />penses incidental thereto, the cost of issuing bonds, hereinafter re- <br />ferred to, and the payment of debt service during construction, the <br />City submitted to the electors the question of issuing Revenue bonds <br />under Act No. 9 of the First Extraordinary Session of the Sixty -Second <br />General Assembly of the State of Arkansas, approved January 21, 1960 <br />(herein called "Act No. 911), in an amount not to exceed $1,000,000, <br />