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CITY-OF-BATESVILLE
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4/30/2019 1:37:45 PM
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Page 6 <br />County. The said account shall be so established that withdrawals <br />therefrom shall be made only for said purpose, as una,iiimously deter- <br />mined by the City, the County, and the Batesville Chamber of Commerce <br />and that all withdrawals must be jointly made by a duly designated <br />representative of each. Said special trustee account shall be main- <br />tained throughout the Lease Agreement and the Renewal Lease Agree- <br />ment; provided, however, any unexpended money in said account on <br />July 1,1981 may, unless the parties otherwise agree at that time, <br />be distributed to the parties in accordance with their interests <br />therein (60f to the County and 40% to the City) for use by each for <br />any lawful purposes; and such a distribution may be made each five <br />(5) years thereafter. It is agreed that the County shall own sixty <br />per cent (601) of said special trustee account and that the City <br />shall own forty per cent (40jo) thereof. If any disputes arise con- <br />cerning the moneys in the said special trustee account which cannot <br />be resolved by the City and the County, the same shall be submitted <br />to the Chancery Court of the County for decision. In the absence <br />of fraud or bad faith the Trustee shall not be liable for any losses <br />which might occur in making investments. Interest accruing on such <br />investments and profits realized from such investments shall be <br />deposited to the trustee account. <br />5. The City hereby agrees that it will submit to the <br />County all matters arising under the Lease Agreement and the Renewal <br />Lease Agreement and the Trust Indenture so that the County will be <br />fully informed and have an opportunity to approve any action taken <br />or to be taken by the City, it being expressly understood, however, <br />that Batesville Rubber and Seiberling shall in no wise be bound <br />by this agreement of the City, but on the other hand shall be <br />entitled to look solely to and deal exclusively with the City. <br />In this respect, the parties agree that all expenses necessarily <br />incurred in the taking of any such action <br />
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