The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1908-09-15

electricity, other than the city, from
eleven cents Q1c) per thousand watts
to ten cents Q0c) per thousand watts,
with the same provision for discounts
to consumers of electricity as provid-
ed and set out in this contract. Such
reduction shall be effective beginning
with the month Immediately succeed
ing the month in which it has been
ascertained that such population has
so increased to twenty-five thousand
! (25,000).
9TH. t is further agreed by the com
pany, in consideration of the making
and execution of this contract for the
taking of water, gas and electricity by
the city, that it does hereby give and
grant to the city an option to purchase
and acquire the waterworks plant and
appurtenances of the company as To-
caed and constructed in said city at
| the expiration of the first five year
period of the term of this contract
or at the expiration of said ten-vear
period, and which plant and appur
tenances shall also include the follow
ing real estate in said city. to wit.
New Town Lot Number Two Thou
sand and Ninety-four (2094 and that
portion of Old Town Lot Fifty-one (5D
described as follows: Beginning at the
intersection of the East Inc of OgIe
thorpe street with the Southern line
Of F street and running thence south
along the East line of Oslethorpe
street to the North wall of the pres
ent electric power-house of said com
pany (and which wall shall be party
VAIL; thence running East along the
North wall of said power house and
on a line extending beyond il to the
Western line of Grant street, being =
total distance from the East line of
Oglethorpe street to the Western line
of Grant street of one hundred and
eighty 1S0) feet; thence running
North along the Western line of Grant
street to the South line of F street:
, thence running Westerly along the
South line of f street one hundred
and eighty 08O feet to the point of
, beginning. The value of said wafer
works plant and arpurtenances, in
, ; Guiding said real estate, to be deter
mined by arbitration, the city TO Sc
, lect one arbitrator and the company
to select one, and if said arbitrators
; fail to agree on such valuation thev
! shall select an umpire, and the decis-
, ion of such umpire as to such valu-
| alton shall be final and binding on
, the parties hereto. If the city should
! desire to exercise this option, it must
, | give notice of its intention six Co
months prior to the expiration Of the
| first five 90 year period, or six months
, ! prior to the expiration of the ten
0O) year period. as the case may be,
I such notice to be by formal resolu-
p ton CT ordinance copy of which must
5 be served upon the president, vice
president, or manager of the com
+ pany. Such valuation or appraisment
must be made and submitted to each
' party hereto within two Co months
, | from the date of the service of such
: notice, both parties agreeing to
: promptly select their arbtrators af-
ter the service Of such notice In
the event OF such purchase, the city
shall pay in cash to the company the
amount so determined as the value of
, ! such water plant at the expiration of
said five 60 year period or said ten
10) year period, according as the city
may elect to purchase at the expira-
ton of said five (5) year or ten (10)
year period, or if the city should not
desire to pay cash for such property.
then the terms and conditions of pay
ment may be mutually agreed upon
In giving notice Of its desire to pur-
, chase, the city must state whether or
net it desires to paw cash and if not
then 1t must set out the terms and
conditions upon which it desires to
purchase If the city. after giving such
notice, should fail to make purchase
: and payment for said water-works
plant and appurtenances, as herein
provided, then the city shall pay the
entire expense incurred by the com
; pany in connection with such arbitra
ton, as we'll as the expense Of the
umpire and its own expenses. In as
certain;ng the value Ct such water
works plant and appurtenances, such
arbitrators or appraisers shall con
slider and appra'se tho physical value
, Ct all ofMuch waterworEs properties and
appurtenaDcas at the time Of arbtra-
ton, without taking into consideration
, any franchise or commercial value In
the event Of such purchase by the
city. the company agrees that it win
convey and deliver all Of said water
! works plant and aRSurtcnanees free
from liens MORTGAGES, bonds and any
fand all other encumbtances and in
debtedncas of every KIND and charac
ter Whatsoever. In the event of pur-
chase Of such waterworks plant al
the expiration Of the first five ~
wear period this contract in respect to
the furnishing Of water shan term
nate, but shall continue and remain
Of force in re@Dect to gas and cleo
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