The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1904-09-03

the property enumerated insured as
hercinbefore provided, then the lessor
shall, upon giving to the lessee at least
thirty days notice, have the right,
should the lessee still remain in de-
fault to dispose of and apply the de-
post to any unpaid rent or unpaid
taxes, or unpaid insurance, or interest
on funded debt of lessor, or unpaid
judgments lawfully made against the
lessor, which by the terms of this lease
it has agreed to pay for and on ac-
count of the lessor and shall have the
right to enter upon and resume pos
session of the said railroad and of the
other property. rights franchises of
every kind and description; and the
term and estate of the lessee therein
shall at once determine; provided,
however, this stipulation shall not be
so construed as to abridge or discharge
any of the said covenants which re-
quire and provide by the payment of
such Semi-annual rent, or for every
part thereof and for the payment of
the other sums herinbefore provided,
and for the return of the said railroad
and other property according to the
terms of such covenants, at any termi-
nation of said term; and provided fur
Their, that the same shall be so con-
strued that the said lessor shall be en-
titled to all the rent due at any ter
mination Of said lease and to have the
said road and other property of every
kind returned as aforesaid, to the said
lessor, and any damages for any fail
ure to so return the same.
1t is further mutually agreed by
and between the parties that fair
valuation and inventory of the said
railroad and all and every part and
parcel of the said other property shall
~ a ac
cable, and before the first day of Jan
uary next, after the execution OF these
presents, by two competent experts
one to be selected by the lessor and
the other by the lessee, who shall in
case of disagreement, select an UNI
plre; and the valuation and inventory
SO made and taken shall be finally es-
tabl1shed kept, recognized, and acted
upon at all times: and annually there
after in the first week in October in
each year, if the lessor shall so require,
like valuation and inventory shall be
made and taken by like competent ex-
perts and their umpire, to be chosen
as aforesaid; and in case the said rail-
road and said property are not in like
good condition and repair as provided
In the covenants in that respect herein
before set out, then the lessee may
have until the first day of January
IlCAl stLlcT Suc1 default 50 u IIletlAG
good said railroad and said other
property; and the said party of the
first part shall not have the right to
enter and take possession of said rail-
road and other property for such de-
fault and breach of such covenant
until the said first day of January next
after such default; and not then on
such account if said default in the
meantime shall be repaired to the sat
isfaction of the said experts or their
umpire.
It is further mutually agreed by
and between the said parties that at
any termination Of said lease and
term whether by its own limitation or
otherwise, the said railroad and all
the said property of every kind what
soever shall be valued and an inven-
tory thereof taken by like competent
experts and their umpire, to be Sc
lected as aforesaid.
1t is further mutually agreed by and
between the said parties that if the
said lease shall be determined other
wise than by its own limitation, the
lessor shall only be entitled to have
the rent due at such termination
thereof and the interest on the funded