The Oklahoma City times. [volume] (Oklahoma City, Okla.) 1908-1984, 1917-04-20

Oklahoma State Fair and Exposition shall he
maintained at a high standard OF excellence
during the entire period OF this lease and con-
tract and without cost 70 the first party, i
being specifically understood and agreed that
the first party shall never IN any event be held
liable for any OF the costs OF expenses incurred
IN tho operation OF said Oklahoma State Fair
and exposition
(l) 1t is further covcnanted and agreed by
the second party that any collection recelpt'
and revenues OF the Oklahoma state Fair and
Exposition from whatever source shall be used
and expended exclusively and entirely III the
conduit OF the said annual Oklahoma State FAIR
and Exposition and III contributing to the con-
SruCtlon OF buildings and improvements, and
IN the maintenance and Improvements OF the
said grounds for State Fair purposes and use
and for premiums, purses attractions and other
expenses necessary to the proper conducting OF
irst-ClaSS annual fairs, eXposi,lonS and enter
tainmcut'. Except as hereinafter provided
1t is. however understood and agreed, that
az much as fifty t5O) percent OF the net profits
OF the Oklahoma State Fair and Exhibition for
any year, not exceeding S2S0O0O, may Be set
aside and retained by the second party for the
purpose Of the creation working capital, and to
provide for the events OF the next succeeding
ycdr. but !, IS expressly understood and agreed
that no dividends shall ever be declared in favor
Of or paid to the shareholders or owners and
holdcIs OF the capital stock OF said Oklahoma
State Fair and Exposition and no pecuniary
profit shall result to said shareholders as such
from the operation OF the business of said cor
poratlon, and no salary shall even be paid 10
the directors OF said corporation
II is further understood, agreed and pro-
Ndcd that It there shall remain IN the treasury
OF the Oklahoma State Fair and Exposition,
alter paving all expenses OF It's annual Far,
and after dcdurtlug the sums necessary to he
retained for working capital, as above provided,
and after the expenditure OF such SUMS as may
be used or devoted To the beautying OF said
property or ITS improvement or improvement,
20 buildings thereon. or IN additional buildings
thereon, or IN repair OF the same. sum in
excess OF Fifty Thousand Dollars (S500O0OO)
shall remain, that such sum so IN excess OF SAID
sum shall he converted into the treasury of
Oklahoma City and become part Of the moneys
and property Of said City to be applied 10 the
payment OF interest upon the bonds issued in
payment for SAID park, and the improvements
thereon, or 10 the payment OF the principal OF
said bonds or ii said bonds principal and
interest, have been paid OF and discharged shall
he converted into the treasury u Oklahoma
CITY. generally for the use OF said City
FOURTH II iS further understood and
agreed that all buildings, improvements and
fixtures annexed or placed upon the lands herein
described, IN whatever form. shall be and remalr
the property of the first party except such as
are hereafter annexed or placed upon the
GROUNDS, Wnctner wholly or III part, with funds
OF the second party and such improvements 20
placed upon sad grounds II permanent in their
nature, shall be the property OF the first party,
but shall be subject to the lease, easement and
license hereby granted to tho second party bu,
It Is, however, provided that any structures no,
permanent IN nature but made for the tempor-
AIRY use OF the second marty may be removed by
the second party, their lcssceS or SION
erS, afct the annual State Fair and ExpoSi.
ton provided that such erection and improve
rcntS shall he constructed and removed wthou,
permanent detrlment or damage to any OF the
property OF the first party. All Improvement,
made by the second party, permanent in char.
acter shall he permitted to remain upon the
grounds for the use o the second party at such
time as It Is IN possession OF said lands ant
appurtenanoes under this contract and subject
TO the terms OF this contract
FIFTH II is further agreed and understood
that il the second party shall wiliuly fail Il
StipulatlonS, conditions and agreements hereir
made that the properly constituted goyernin,
powers OF the first party may declare the eaN
hereby granted and given by this contract for
icitcd and at an end and may enforce such for
ciure in any Court Of competent jurisdiction
I'm Witne" Whereof the Parties Hereto hav,
hereunto set their hands and seals the day anc
year first above written.
THE CITY Or OKLAHOMA CITY,
Party OF the First Pare