HomeMy WebLinkAboutMinutes - City Council - Regular - 11/27/1922i
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One Note for $1500.00 payable February 15th, 1924
to 11 to 2000.00 it 11 15th, 1925
it it 2000.00 It It 18th, 1926
tt It it 2000.00 It it 15th, 1927
It it 2000.00 it It 15th, 1928
tt it to 2000.00 it It 15th, 1929
said notes or warrants to have written on same the dates on which they are to
be paid, and also that they bear interest at the rate of six per cent per annum
from ten days after delivery and acceptance of apparatus and equipment until
paidpayableon each installment as it matures.
All contracts are taken subject to the written acceptance of the Company, and
when requested by the Company the buyer is to furnish to the Company a satis-
factory opinion of the city of town attorney as to the power of the municipality
to make the contract, and also that the notes or warrants, if any, to be given
in payment for any part of the above -named purchase price, are valid, legal
and enf6rcable obligations of the municipality.
And tt Is futher antually agreed and understood that the Company shall remain
the owner find retain the title to the property above described until the whole
of the purchase price thereof and any obligation or obligations,security or
securities given therefor, are actually paid;and that in case of any attempt
by the Buyer to sell,encumber, conceal, remove, or dispose of any of said proper
erty before the same shall be fully paid for, said Company may resume possessio'�
and control of said property.and for that purpose may enter any buildings or
places where the same or any part thereof may be; and all payments that shall
have been made upon or by reason of this contract shall be applied as.and
shall be in full for , the rent,and use of said property up to the date of
such taking.
If this contract covers more than one piece of apparatus, it is agreed by the
parties hereto, that the party of the second part shall pay for each piece in
accordance with the terms of payment herein stated and when each piece Id
delivered and accepted.
WITNESSour hands and official seals this 27th dad of November, 1922,
A.MRRICAN*LaFRA',J10E FI_-�E ENGINE COMPAYY.
Party of first part
BY J.Ed Schmitz
ATTEST: Manager Dallas Branch
J.R.Germany City of Lubbock Texas
7ty secretary. By Percy Spencer Mayor.
Party of the second part.