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2008-11-01
CITY-OF-BATESVILLE
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2008-11-01
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• the Company acknowledge that under their and other interpretations of present law, no part of the <br /> Project will be subject to ad valorem taxation by the State of Arkansas or by any political or taxing <br /> subdivision thereof,and these factors,among others;materially induced the Company to enter into <br /> this Lease Agreement. However,the Company will pay all impositions, if any, in connection with <br /> the Project which maybe lawfully levied or assessed upon the Project when the same shall become <br /> due; provided, however, that the Company may contest any such impositions and need not pay <br /> during the pendency of such contest except the Company shall in all events, pay to prevent the <br /> Project becoming subject to loss or forfeiture. The Issuer hereby agrees that it will cooperate with <br /> the Company in resisting any such impositions if and to whatever extent the Company may request. <br /> Section 6.10. Issuer to Grant Easements. The Issuer agrees that, when requested by the <br /> Company but not otherwise, it will take the necessary steps to grant sewer, utility, road and other <br /> easements and rights of way over,along,across and under the Premises. Instruments granting such <br /> easements and rights of way may be executed by the Mayor and Clerk of the Issuer, who shall be <br /> entitled to rely upon and act in accordance with the written request of the Company signed by its <br /> Company Representative. <br /> Section 6.11. Condemnation. (a) If all or any part of the Premises is taken or condemned <br /> as the result of the exercise of the power of eminent domain, this Lease Agreement shall not <br /> terminate and the rentals hereunder shall not abate. The net amount awarded as damages or paid as <br /> a result of such taking (being the gross award less attorney's fees and other expenses and costs <br /> incurred in the condemnation proceedings) shall be paid to the Company. <br /> • (b) The Company shall have the right, proceeding in the name of the Issuer, to handle <br /> defense or prosecution of any condemnation proceeding and to negotiate any settlement or <br /> compensation for a taking pertaining to or affecting the Premises. The Issuer agrees that it will <br /> cooperate with the Company in such manner as it requests with the end in view of obtaining the <br /> maximum possible amount justifiable as damages for the taking, and will not settle any <br /> condemnation proceeding without the prior written consent of the Company. <br /> (c) Notwithstanding the fact that all or any part of the Premises shall be taken by right <br /> of eminent domain, the Company shall have the right to exercise any option granted to it by the <br /> provisions of Article X hereof. <br /> Section 6.12. Damage or Destruction. If all or any part of the Premises is damaged or <br /> destroyed by fire or other casualty, this Lease Agreement shall not terminate and the rentals <br /> hereunder shall not abate. In repairing any damage to the Premises resulting from any casualty,the <br /> Company may make such repairs in such manner and to such extent as it deems appropriate for its <br /> purposes, and shall not be liable for the restoration of the Premises to the condition existing prior <br /> to such casualty. In the event of any claim for insurance,the Issuer agrees that it will not join in the <br /> settlement of any claim without the prior written consent of the Company. <br /> • <br /> 19 <br />
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