The daily Alaskan., 1907-06-01
LF FASE {

day Oi......, 1897, by and between Inc Northwest Light and Power Company a corporation organized under the laws of Lhe state e. Naine also SKagway Light and Water Company, a corpora lioa organized under the laws Of the state of Washington, the party of the first part, and lhe Town of Skagway, Alaska, g municipal corporation OrgG- niZed under the laws Of the District or Alaska, by its duly elected mayor and members Of the common council, tle party ut tAe second part, WIFNES- SETH:
 lsL
 The first party hereby leases, renJsr and transfers lhe management and Ope- ration Of all and singular that certain real and personal property situated In and near SzaEwgy Alaska, which 1t OwnS and is now operating as an cleo. lric lighting ant water supply system, 5o the party of -ha. second part for term ot five ,'l vars according to the following Jermss
 The ecOud party shall be, and the first party sha.l not be, liable, or re- syonsIble for aay and all debts, or claims which nay be incurred or asses sod against he property either for ma tsrlals, pr l8uoc D 9e Iseo iu the Oper- a|iOn, construction, repairs or eNten- sion Of the plll. or for materials or labor which may bs needed Co supply the requirements of the customers served under aud during the time spe~ cif.d by this ltasa. The indebtedness here referred 0 shall include any and all taxes, and license fees Of every ua- Jure,
 ard.
 The seconi parJy shall exercise judge. meut, and sLal diligently guard and preserve the property from a violent or Incompetent Infringement, and shall keep the property i'm it's present good condition md repair, and shall save the drst party tOu any and all loss, except such ss ls -sual in depreciation by wear only.
 4gh.
 The fIst party shall defend the sec oud pgrly iu the peaceful operation or the properties herein leased, hereby in~ suring the second party against any and all lndebte6ne5s of whatsoever nature, which could iu any way Cbs.rICt the management or operation of the proper ties, and che second party shall also by this agreement. covenant and promise 10 allow no 1grls, .r debt Co aCCummu- late or become as 8 lien or mortgage against the properties
 IIh.
 The second Dar5y shall not by the terms of this lease or agreement have the riabt to Jra0si5r to sell the rights hereby obtained, nor shall any pat or ylrczI Uf the wa.er rights, real estate, pipe lines, pole lines, or machinery be sod or otherwise disposed of, and by ghe terms oi this section reference Is made Co au appended list which des- .ribas the property which is leased by he first party tO the second party and $ made part of the lease.
 9th.
 No assessment, offset, OF charge shal! De made by the second party for repairs, ytensiOns, or betJermenls, against the .rsC party or it's properties and the tirsJ .arJy shall have the right to inspect md receive Information relative Go the rue condition of the property at all ines.
 7lh.
 The seCOI q. party shall pay Co the first DarJy, its successors or assignspaymeuLs Q the United States gold of the present tandard of weight and liueess, or in own warrants of equal value, which shall bear interest at s per enJ per aunum, properly drawn by he Town Of SAagWay, Alaska, as fol- oWs:.
 Sth.
 First payment of eight thousand dol ars, (SS, ,OOO) shall be made by the sec nd party to the first party, and the possession and control of the property will be given in exchange upon the da'e ,f the proper signing ofthis agreement Second payment of five thousand dol ars ,OOOJ shall be made On or before .une lst, 1908.
 Third payment of five thousand dol ars l55,0OO) to be made on OF be ore June Ist, 1909.
 Fourth payment of five thousand dol ars tS5,OOO) to be made on or before June lst, 1910
 Fifth payment of two thousand dol ars (S2,OC0) Co be made on or before June lsC, 1911, and not later than Jan lary lsLs 1912,