Madison County Democrat. (London, Ohio) 19??-1958, 1950-07-28
THE sEMT-WEEKLY MADISON COUNTY DEMOCRAT LONDON OHIO

OF its council and with the written |
consent of the holders of not less |,
than 66-2/3% In aggregate principal |
amount of the outstanding Bonds /
Excluding Bonds held or owned by /
the Village), may modify or amend |
any covenant condition or provision |
of the Mortgage or any supplement |
thereto SO long as such action shall
not result in changing the redemp-
tion provisions or interest and prin-
cipal maturity dates or reducing
the principal amount or interest
rate on any Bond without the con-
sent of the holder thereof, nor
the rights or obligations !
of the Mortgage trustee without it's
consent, nor reducing the percent
age herein specified, nor imposing
upon any part of the properties or
revenues Of the Utility described
in the Mortgage or any supplement
thereto any mortgage or lien rank
ing prior to the lien of said Mort
gage.
Section 13. In the event of the
foreclosure of the Mortgage. the
purchaser or purchasers at such
foreclosure sale shall be entitled
to operate the Utility as improved
or extended under the terms of
the following franchise, which is
hereby ordained and established to
take effect Immediately upon the
confirmation of such foreclosure
sale, to wit:
FRANCHISE TO CONSTRUCT.
PUBLIC UTILITY KNOWN AS
THE WATERWORKS SYSTEM
IN AND FOR THE VILLAGE OF
LONDON, MADISON COUNTY.
OHIO. UPON, ALONG AND UN-
DER THE STREETS. LANES,
ALLEYS, AVENUES AND OTHER
PuBLIC THoRoUGHFAREs OF
AND TO FIX AND PRESCRIBE
THE TERMS AND CONDITIONS
UNDER WHICH SAID OPERAT-
ION SHALL BE CONDUCTED.
Section A: Hereafter when the
word grantee" appears in the
franchise, it shall be held to mean
and include the purchaser or pur-
chasers at a judicial sale upon fore
closure of the Mortgage on the
waterworks system Of the Village
of London and any person, associa-
tion of persons, partnership or
corporation who shall, upon such
foreclosure, become the owner of
said public utility by assignment
from said purchaser; and this fran
chise shall inure to the benefit of
such person, association, partner
ship or corporation and their heirs,
executors, administrators, success
ors and assigns. The term Village"
where used herein shall refer to
the Village of London, Ohio.
Section b: The said grantee is
hereby granted the right for the
full period of twenty years from
the date. Of the final confirmation
of such judicial sale on foreclosure
of mortgage to construct, main
tain, operate and extend upon,
along and under the streets, lanes,
alleys, avenues and other public
thoroughfares and public property
of the Village with the full and
necessary privileges for the use OF
the streets, lanes, alleys, avenues
and other public thoroughfares or
property for the purpose of con-
structing. erecting, maintaining,
operating and extending water
mains, valves, meters, fire hy-
apparatus necessary for the pro-
duction and distribution of water
for all purposes.
Section c.: This franchise SHAH pe
held to apply to and give the right to
own and operate all the properties,
property rights and interests there
tofore owned or operated by the
Village as or in connection with it's
public utility known as its water
works system, with all extensions,
betterments, replacements and new
equipment which has been made
or added thereto by said Village
prior to the taking effect of this
franchise, together with the ex-
tensions and betterments and equip
ment which may thereafter be
made from time to time by the
grantee during the life of the
| franchise.
Section d: The grantee. in the
maintenance, repair or extension
of said Utility shall not unneces-
sarily interrupt or obstruct use
! of any street, lane, alley or public
! thoroughfare, and in connection
with any such work shall obtain
such permits and approvals as
may be required by the ordinance
of the Village.
| When any streets, alleys or pub
lie grounds are entered upon, or
facilities removed therefrom. the
| grantee shall restore the same to
their original condition and shall
clear all such places of dirt, obstruc-
| tionsand anything that might consti-
tute a nuisance, or prevent such
street. alley or public ground from
being open and in repair. Such res
| toration to original condition shall
be made by the grantee under the
| supervision and control of the
Council of said Village who shall
determine what part, If any, ol
| such work, shall be done by the
Village and charged to the grantee
| Upon the doing of any such work
the Village shall furnish the gran.
tee with itemiZed bills of the cost
thereof, which bills shall be paid b,
the grantee within G0) days aftel
the receipt thereof.
Section e: The grantee shall a
all times be subject to the regula
tions imposed by the laws of tn
State of Ohio and such genera
reasonable regulatory ordinances o
the Village as may exist at the eff
fective date of this franchise o.
thereafter be adopted, including tn,
continuing right of said Village.
Council to require such reconstruc
ton, relocation, change or dis
continuance of the appliances uset
by said utility in the streets. alleys
avenues and highways of the Vii
lage, as shall ih the opinion o
Council be necessary in the public
interest. The grantee, however
shall haYe a right to a fair return
on its investment; it being under
|. stood, however. that the Villiag,
cannot waive or surrender any o
the police powers granted to, o
inherent in, municipal corporation
!, and nothing herein contained shal
! be construed as waiver or sur
render OF such powers or othe
rights conferred by law on muni
cipal corporations.
In construction, maintenance o
, repair of it's properties, the granite
. shall comply with all regulation
!. existing or that may thereafter b
made by the Village applicable t
said grantee. and the grantee shal
be liable for damages that ma.
arise by reason of it's failure o
neglect to comply with such regula
tions and shall save the Villag
. harmless from any and all claim
for damages by reason of sue
: failure or neglect.
Section r: The grantee shall full.
, indemnify the Village and save
. harmless from any and all damage