Laserfiche WebLink
• <br /> choose an arbitrator and the two so chosen shall choose a third and <br /> the decision of a majority shall be final. <br /> The covenants and agreements of this lease shall extend <br /> to and be binding upon the heirs, executors and assigns of the par- <br /> ties hereto as covenants running with the land. " <br /> and, <br /> ?WHEREAS, the CORPORATION has commenced the erection and <br /> construction of a building on said Lot Four (4) to utilize the party <br /> wall now supporting the building on the 'Westerly Two-thirds 2/3) <br /> of Lot Three (3) , with extensions to be conistructedabove said' existing <br /> wall, below said party wall, and to the south of said present party <br /> wall, such extensions to require additional underpinning and footings; <br /> and, <br /> WHEREAS, since all of the facts relating to the various <br /> constructions of walls built by the various parties since 1206 and <br /> the scttlem_ents which may have been made and as to other facts which <br /> are material to a proper determination at this time of the amount <br /> which should be paid under said party wall agreement by the CORPORA- <br /> TiON to the PAINES, is in dispute and doubt, and, <br /> WHEREAS, on June 12, 1954, Frank N. I;icNett, as appraiser <br /> for the PAINES, and Leonard A. Melkus, as appraiser for the CORPORA- <br /> TION, submitted their joint report to the parties, finding that the <br /> total value of the existing party wall as of the date of said report <br /> was Nine Thousand, Two Hundred ($9,200.00) Dollars; that one-half <br /> of said value would be Four Thousand, Six Hundred ($4, 600.00) Dollars; <br /> and, <br /> WHEREAS, the parties hereto have agreed that the CORPORA- <br /> TION shall pay to the PAINES as of the date of the execution of this <br /> agreement, the sum of Two Thousand, Three Hundred ($2,300.00) Dollars, <br /> being fifty (500) per cent of said sumof Four Thousand, Six Hundred <br /> ($4, 600.00) Dollars, as a compromise settlement in full of all dis- <br /> puted claims by either of the parties hereto against the other as <br /> the amount due for the use by the CORPORATION of the party wall now <br /> existing, and, <br /> WHEREAS, the parties hereto desire to enter into a further <br /> extension and agreement of said lease agreement, dated April 11, 1906, <br /> -2- <br />