4755 - 51 Agreement w/ co. for parking meters

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9, To give the City a bill ef sale for the netere when the full agreed value thereof, to-wit~ ~ixty-four Dollars ($6~.00) _h_a_~ Been paid to the Ccepau~. 10. To lease the meters described in paragraph one (1), at said agreed value, parmi% their inatall~tion a~d to pay tJle following rentals fca' themt The receipts shall be called #net revenue.. ?hirty (~0) days after the installation ef the meters, and not later than the fifteenth (15th) day of each calendar month there- afters the City shall l~y to the Coskuan~ $2.~O per meter per month of sueh net revenue until the agreed value ia paid or until the motors ers removed under the provis~ens of paragrapb~ seven (7) or sixteen (l~)o The sole otligatZon of the City hereunder to pay £er the meters ~ be from the receipts obtained from tho operation thereof. Il. To accompar~ each payment with & collection statement on forms to be gupplled by the Com~M~, SetS. iR forth collections and allueatioue thereof, 12. That if at an~ menthly payment date prior to ~ut ~u fullo the rentals to the Compar~ average bee than Two Do'mare Fifty Cents ($2.~0) per meter per month, the City will pro ptl UP the difference fFcm its share of the net rovenuo~ except that in au~ event ~t may ~etain twenty-five per Sent (2~) of the not Fe~smloo 14. ?o maintain the motors in ~ood operating acndition until the tgreed ~ue is paid, Xf this is met done, the Compa~ may co maintain them and the City will; upon demand, remit to the Company from the City*s share ~f the net reveme the coot thereof, 1~. Until the agreed value is paid or this lease ia terminated under paragraphs seven (7) or sixteen (16), to enact, maintain and enforce appropriate ordinances r®latina to the installation, maintenance ami operation of these meters and re- lating to vehicles parking next to them. 16. That if the City shall materially breach ~s Agreement, the Compar~ may terminate thi~ lease by giving to the City written notice of its intention so to do and may remove maid meters. In this event the Cit~ will pay to the Compd~ an additional amount ~ that the rentals shall be seventy-five per cent oft he net revenue, These righte shall mot ~e exolusive of any other rights ~r remedies given to the Cc~paay by law, 17. That the Company ~ not Be liable for delay in ~urniahiflg meters leased under paragraph on~ (l), if much delay ia eauaed by, er if the manufac.ture, de- livery, or installation of meters is l~evented, delayed ]~oause of~ a ttriko~ or other ~i~or f~3uble~ fire~ tornado~ flood~ e~rgo~ shortage of transportation, material or labor~ war~ preparation for war~ insurrection~ civil commotion~ goverument regulation or othe~ eaane beyond the control of the Compaq. 18. That the Company shall not ~e liable for damage to light ami power cables, gas mains, or other facilities and property, caused By the drJmm~qg of holes the installation of meters unless the holes are drilled in locations other than those designa+~d by the City to the Compar~ or the Compar~a Representative~ or authol'ized contractor, 19, That the Co~any ~ay assign this Agreement, or its right hereuadar, provided that such assignment shall n~t release the Company ~f its obligations hereunder, 20. No one shall have the p~wer ~r authority to a~ter the terms and conditions of this Agreement in ~ehalf of the C~pany except its P~esident, Executive Vice- ~sident, a Vice-President~ Secretary or Treasurer. 21. The C~mpa~y a,jrees to pay the hi~est prevailing wage rates as prescrl~d hy law for Cu~ahoga County, Ohio.