The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1908-09-19

electricity, other than the city from
eleven cents (11c) per thousand watts
to ten cents QOc) 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
(z5.O00).
9Th. 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 bv
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 wear
| period of the term of this contract
or at the expiration of said ten-year
| 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 Then.
sand and Ninety-four (2094) and that
| portion of Old Town Lot Fiftv-one (5D
| described as follows: Beginning at the
intersection of the East line of Ogla
thorpe street with the Southern line
Of F street and running thence south
along the East line of Oglethorpe
street to the North wall OF the pres
ent electric power-house of said com !
pany (and which wall shall be a party
WALL; thence running East along the
North wall of said power house and
on a line extending beyond it 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 CS0) feet; thence running
North along the Western line of Grant
street to the South line of street:
thence running Westerly alcng the
South line of street one hundred
and eighty GSG) feet to the point of
beginning. The value of said water
works plant and arpurtenances. in
Guiding said real estate, to be deter
mined by arbitration, the city to Sc
lect one arbitrator and the comnanv
TO select one, and if said arbitrator
fail to agree on such valuation. they
shall select an umpire and the dects-
ion of such umpire as to such vaIu-
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 C6)
months prior to the expiration Of the
first five 60 year period, or six months
prior to the expiration of the ten
! G0) year period as the case may be.
such notice to be by formal resoiu-
ton CT ordinance, copy of which must
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 (2) months
from the date Of the service of such
notice, both parties agreeing to
promptly select their arbitrator af
ter the service of cuch notice In
the event oil 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 I
said five 80 year period or said ten |
| (1O) year period according as the city |
may elect to purchase at the expira- |
| ton Of said five 90 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 pay cash, and if not,
| then 1t must set odt 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 well as the expense of the
! umpire and its own expenses, In 9s-
| pertaining the value CT such water
works plant and appurtenances, such
arbitrators or appraisers shall con
slider and appraise the physical value
OF all of such waterworks properties and
appurtenances at the time of arbitra-
ton, without taking into consideration |
any franchise or commercial value. In |
the event Of such purchase by the |
city, the company agrees that it will |
convey and deliver all of said water
works plant and appurtenances free |
J from liens, MORTGAGES, bonds and any |
and all other encumbrances and in |
debtedness of every kind and charac
; ter whatsoever In the event of pur-
chase of such water-works plant at
the expiration of the first five 80 |
year period. this contract in respect to
the furnishing of water shall termi
nate, but shall continue and remain /
| nF fnrno rn-nnnt 10 nnd n1ac