70-022 Ordinance - Laserfiche WebLink

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~' shall at its own coat defend against such actions in its own Hama or in the name of the City of Fairview Park. It is further agreed between the parties berets that if the actual cost of operation, which shall include ~®a of driveze and other employees properly chargeable to said route, fuel and lubricants, tires and tubes, maintenance of equipment used on such routes, depreciation on such equipment, public liability and property damage insurance, together with such part of the general overhead of the City of North 0lmste8 as is properly applicable thereto, under methods of accounting in the bus transportation business accepted by recognized certified public accounts, shall increase or decrease materially during the life of this contract, then the City of ~iorth Olmsted shall have the right to increase .~ the rate of fares, and the City of Pairview Park, in the case of decreased operating cast, sha11 have the right to request a de- crease in the rate of fares, however, that no change in fare shall be made without first submitting the same. to the Couacil of the City of Fairview Park, and if the City of Fairview Park is dis- satisfied with the proposed change of fare, then the same shall be submitted to a Board of arbitrators to be appointed as hereinafter set Earth and the decision of the Board sha11 be final. It is mutually agreed between the parties hereto, that should any question arise regarding the interpretation or meaning of this contract which cannot be adjusted by the parties berets, then the aforementioned Board shall determine by majority vote the question involved. The decision of the arbitrators shall ba accepted by and be binding upon the parties hereto. It is further mutually agreed between the parties that no liability shall arise under the provisions of this coatxaat by reason of Acts of God, the public enemy or labor strikes. This cantract shall take affect sad be in farce from