Milford chronicle., 1952-01-11

pletion of installation;
Twelve per centum. 12%) thereof
on or before the expiration of
eighty-seven $50 months from
completion of installation:
Twelve per centum Q2%) thereof
on or before the expiration of
ninety (99) months from the
completion of installation; /
Twelve per centum O29el thereof
on or before the expiration of one /
hundred eleven 11D months from /,
the completion of installation:
Twelve per centum G2%) thereof
on or before the expiration OF one
hundred twenty -threeO 1879 months
from the completion OF installa-
ton;
Eight per centum (S96) thereof on
or before the expiration of one
hundred tWenty-three O23) months
from the completion OF installa-
ton.
In. the event the net revenues" de- |
rived by the Municipality from the
operation Of the machinery and mat
erials purchased hereunder during any
yearly period commencing with the
date of the completion of installation
and asceTtained i'm the manner pro-
vided in paragraph ga hereof. shall
be insufficient to meet in full the pay
ment of principal due in respect of
such yearly period and payable as
above provided, the unpaid balance
of principal shall be payable from the
first available excess of net reVe-
nues" for a subsequent yearly period,
and so on from yearly period to yearly
period until all such unpaid balances
are fully hquidated and paid; and if
there shall be a balance or balances
of principal remaining unpaid at the
: end of the aforesaid period of one
| hundred thirty-five 135) months from
| the completion of installation, such
! balance or balances shall he payable
! from the met revenues of the Mum
/ icipalty derived from the operation
| of such machinery and materials, as
! certained in the manner provided in
! paragraph ga hereof, from yearly
/ period to yearly period thereafter un-
! til the same shall have been fully paid
! and iQuidated, together with interest
as provided herein. All deferred pay
| ments shall be evidenced by revenue
| certificates or notes of the Municip-
ality payable to the order of the
| Company or bearer dated and deliV-
cred as of the date of completion of
! installation, and shall bear interest
from said date at the rate Ot three
I per Centum (3%o) per annum, payable
| annually; provided, however, that the
! Municipality shall have the right and
i privilege Of anticipating annual pay
1 ments of principal and/Or interest by
| making payments on account in It's
discretion to the Company or bearer
at any time prior to the due date of
i any such revenue certificate or note
and all such revenue certificates or
notes shall contain a provision to TINS
effect.
The Municipality agrees - furnish
and make available to the Company
Immediately upon the delivery of the
machinery and materials specified, a
f suitable site and structure wherein
the Company may install such mach
. inery and materials.
= If any Governmental price regula-
tiOn, or any other applicable law, OF
any rule or regulation of any Govern
, mental authority in pursuance of law
! should limit the maximum price
chargeabIe by the Company for any
item of machinery or materials TO bt
! furnished under this agreement TO al
II amount below the price therefor here
4 in specified, or if the Company ag'
= gregate cost of construction, purchaSC
; and furnishing of the various items o.
machinery, equipment, and material:
to he furnished under this agreement
found and computed as hereinafter
- in the next following paragropn pro
. vided, shall become increased by a!
, much as .....--....-.-~ per ceAtum 70
: over and above the amount of sucl
q cost, similarly calculated, as of th'
date of the execution OF this agree
| ment the Company may, in any Sucl
i, case, terminate this agreement D!
notice in writing to the Municipality
whereupOn all obligations, liability
. and responsibility of either of tn
| parties hereto to the other under thi
! | agreement and in respect OF the sun
= iect matter hereof shall cease ter
20 inmate, and be eXtingulshed. .,
;fI 1t is hereby stipulated and mutuall
"a agreed, that the amount and percent
= age of increase in the COmpany'S ag
y gTegate cost of construction, purchase
- and furnishing under the toregOln
r. provision shall he taken as that de
!, termined and computed in the follow
n ing manner: ....,,to.o .
y herein shall be divided into three sep
y, arate parts or divisions as follows:
y Ca5 %, or 5 shall be
n taken as representing machinery
% manufactured by the Company;
- Cbl %, or snau De
\, taken as representing machinery
y equipment, and materials furnish
- ed hereunder which are not man
ufactured by the Company .,
,e (c) %, or s shall ne
70 taken as representing trahsPOs-
D. tation, taxes or any on tne s.,rIiS19 gIoSs
or the sale. delivery, or turnlsn-
"a ing thereof borne by the Company
~ andother incidental items.
81 IT. The increase in the cost OF DlN
~ ision (a) shall be determined In II
h following manner r,.--.-,o..
IL CaS shall be multiplied by the per-
a. centage which D the average
,oa hourly straight time base rate
.lo for employees whose wages are
"a paid on an hourly basis at the
~ ~ works of the Company for the
IN. L,u month in which the Company
~ elects to terminate this agreement
le' as aforesaid, bears to (2) the aV-
x erage hourly straight time Dase
a. rate for employees of said class at
,9,, said works in the month in WHICH
- this agreement is dated, ana the
~, difference between such resulting
~; figure and said 500 OF the amount
III of Division (a) shall be deemed
he the increase in labor cost OF sald
n division. -,....
III (a) shall be multiplied by the per-
,oo certage by which the hueX vi
iOe wholesale prices for iron and Steel
as listed under Metal and Metal
ny Products in the indices of whole
lC:,,, sale prices compiled by the UnlLeO
VIZ states Department OF Labor Gas
~ now promulgated by said Depart
- ment, or according 10 Ihe IhoS.
~ nearly similar index comphed by
co. eaid Oepartment then available
ne has then increased taking as tn'
pn, base the index compiled TOT tn'
MP Deriod most closely preceding th'
Ine date Of this agreement ana laklhs
~, as the increase the dIlIerehce "
IS tween such base index and tn
ne corresponding index promulgate'
dr- bv said Department for the ,perio'
p =. most closely preceding the date
ned tne dlo' - so' Co,Dnonv. the TesuI
tt1ee of such multiplication heing takel
con as ~, 1F..;,,io,' ioG
rhe iii. The totals of the labor AM
Try, materials cost increases louHG u y
the PLoNI'TieN PROV ~ daar1ed tn he the increas
re- Sl'ha. ., OF Division (a1.
lct l, UI. The increase in the cost
nai' Division (b) shall be the dinere
-eI- -. - the rricaS at WnlCn