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CITY-OF-BATESVILLE
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4/30/2019 1:37:45 PM
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8/22/2018 12:06:04 PM
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r <br />0 <br />Page S <br />Also, the County agrees to enter into a Subordination Agree- <br />ment with Batesville Rubber and Seiberling pursuant to which the <br />County will s:bord nate its interests declared herein to the interests <br />of Batesville Rubber and Seiberling and pursuant to which it author- <br />izes the City to act with reference to the said interests of the <br />County and affirmatively so represents to Batesville Rubber and Seiber- <br />ling. To that end, Batesville Rubber and Seiberling are made third <br />party beneficiaries hereunder. <br />4. As provided in Section 204 of the Lease Agreement, <br />after all Act No. 9 Revenue Bonds and Amendment No. 49 Bonds are <br />fully paid and discharged, or provisions made therefor, all rental <br />payments under the Lease Agreement shall be paid by the Lessee into <br />a special trustee account for the City and the County. The parties <br />agree to establish said special trustee account in First National <br />Bank, Batesville, Arkansas. The said First National Bank shall be <br />instructed to continuously invest and reinvest all money in said <br />special trustee account in direct or fully guaranteed obligations <br />of the United States of America. If any funds are not so invested, <br />or in any event, if deposits are made of these funds, all such de- <br />posits will be made in these banking institutions, to -wit: First <br />National Bank, Batesville, Arkansas, The Citizens Bank, Batesville, <br />Arkansas and Bank of Newark, Newark, Arkansas, all being in the <br />County, or their successors in the County, or, if all do not at any <br />particular time exist in present or successor form, then to those <br />which do exist in ratio to their total deposits. There shall also <br />be deposited in said special trustee account all other moneys of <br />whatever nature which, under the terms of the Lease Agreement and <br />said Renewal Lease Agreement, are to be deposited therein. It is <br />agreed that the moneys in said trustee account shall be used for the <br />securing, financing and developing of industry in the City and the <br />
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