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200102877
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200102877
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Last modified
10/14/2011 2:22:33 AM
Creation date
10/20/2005 8:20:28 PM
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DEEDS
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200102877
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20010287'7 <br />2. One Hundred and No /100 Dollars ($100.00) on the <br />first day of each month during the term of this easement; <br />provided, however, that on the first day of October each year <br />beginning in 1989 and continuing through the following years of <br />the term of this easement the monthly payment for the twelve <br />(12) consecutive months beginning with each October shall be <br />increased by a percentage equal to the percentage increase in the <br />C.P.I. as of the first day of September of that same calendar <br />year over the C.P.I. for the first day of September the <br />immediately prior year. <br />3. As used in this easement the initials C.P.I. mean <br />the U.S. Department of Labor Consumers Price Index - all cities <br />as of the date indicated; provided that if the publication of <br />that index is discontinued prior to any of the dates indicated <br />then, thereafter, the amount of the increase in monthly payment <br />shall be determined by mutual agreement of Econ -O -Lux and <br />Bosselman and if mutual agreement is not reached prior to July 1 <br />in any given year for the rental year beginning October 1 of that <br />same year, then the amount of the increase shall be determined by <br />arbitration under the rules of the American Arbitration <br />Association, the decision to be binding upon Econ -O -Lux and <br />Bosselman and each to pay one half (h) of the costs thereof. <br />4. To determine the percent increase in the C.P.I. as <br />of a first designated date over the C.P.I. for a second <br />designated date (i) subtract the C.P.I. as of the second <br />designated date from the C.P.I. as of the first designated date <br />and then (ii) divide_ the remainder by_the C.P.I. as of the second <br />designated date and then (iii) convert the resulting decimal <br />number into a percentage number by moving the decimal point two <br />positions to the right. <br />ARTICLE V <br />Termination <br />1. The term of this easement shall commence on the date <br />that the pipeline in the easement is first connected for use or <br />the Ten Thousand and No /100 Dollars ($10,000.00) payment is made <br />and continue until terminated as hereinafter set forth; provided, <br />however, that if the pipeline is not first connected for use or <br />the Ten Thousand and No /100 Dollars ($10,000.00) payment is not <br />made on or before December 31, 1988, then the easement herein <br />granted and all other terms and conditions of this Wastewater <br />Pipeline Easement shall be void. <br />2. Econ -O -Lux may terminate this easement by (i) failing <br />to timely make the initial payment of Ten Thousand and No /100 <br />Dollars ($10,000.00) when the same is due or by (ii) failing to <br />make any monthly payment which is due on the first day of each <br />3 <br />
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