Minutes 03/31/1909 - Laserfiche WebLink

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Narch 31, 1909. i47 should there be a succeeding lessee; one copy to the Board of Supervisors of the County, one to the Council of the City, one to the lessee,~and one to the succeeding lessee; and if such valuation shall be less than the valuation of the property turned over to him, the lessee shall pay ts the 0ity and County the amount of such deficiency; but if the. valuation of the property turned over by the property him at the termination of h~ lease shall be in excess of the valuation of~turned over to him by them at the commencement of the lease, then the said 0oun~y and City shall pay to him the excess of such valuation; but the lessee shall turn over, at the 'expiration of said lease, good and suf- ficient boats to run the schedule as required by the lease and as herein above stated. ~AYM~IT OF RENT~. FIFTH. The amount for which the said Ferries shall be leased shall be paid in monthly installments to the proper officers as required by law; and in the event of failure of the lessee to pay over and deposit any. of the aforesaid monthly installments within ten days from the time the same shall become due and payable he shaI1 fbrfeit and pay.to the 0ounty $50 for each and every --day, after said ten days., that he is in arrears to the said County, and shall forfeit and pay to the City ~50 for each -and every day, after ten days, +~hat he is in arrears.to the said SIXTH; Should-an opposition ferry be. operated between Fortsmouth and Norfolk or between Berkley and Norfolk, having a terminal within one-half mile of any ferry terminalof the Norfolk County Ferries, whereby the receipts of the lessee are affected and reduced $10,000 or more per ann~un, then the lessee shall have the right to dIsconti~me his lease or have his rental reduced as may be determined by the County and City, Should the County and City determine, to reduce, the rent, then the annual rental shall be reduced in proportion to the reduction of the gross receipts for each subsequent year from the receipts for'the year previous to the year when the said opposition ferry commenced operation, said reduction in rental for any year to be dedueted from the monthly installments of the ~ent for the months in the next suecee_ding year;.and the lessee shall keep a correct and separate account of his gross receipts, derived from all sources under the lease; but before the.said lessee shall receive any reduction in his rental on account of such opposition ferry he shall, if requi~ed so to do, submit tb the representatives of the Ferry Committee of the County and City all books or separate accounts of his gross receipts so that the County and City may ascertain what reduction there is in said gross receipts and what reduction in rental the les- see is entitled to. But Should the County andrCity ~etemine not to reduce the rent then the les- see may discontinue his lease upon giving to the City and County six months written notice of his intention to discontinue the same. SEVENTH. The prope~y leased is to be turned over and delivered to the lessee on the ist day of April, 1909, And the County and City are to keep the said lessee in quiet and undis- turbed possession of the same during the continuance of the lease, EIGHTH. If, after the said property shall be turned over to the lessee, there shall be any claim preferred against the steamers turned over to the lessee on account of material or labor heretofore furnished the same. so as to create a lien in admiralty upon said steamers, then the said lessee, if he shall pay off the same, shall be entitled to credit the amount so paid to what he is to pay under the lease. NINTH. Bhould the General Assembly of the State of Virginia by any future legislation, or should the.City ~f Norfolk or City of Fortsmouth-enaet any law or pass any ordinanee increasing the tax or laying any additional tax for the operation of the said ferries, over and above that in ferce for the year 1908, the annual rental for the lease of the said ferries shall be reduced in an amount equal to said increased or additional tax paid by the lessee, the same to be deducted