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<br /> ---------- ------------- <br /> CITY NEW BRIGHTON TEL:6382044 Rug 19'96 16:59 No.024 P.O? <br /> -- I <br /> IX. ALIENATION OF INTBJlEST .4"" <br /> AIly plICtl/l1ay lieU. panltlon or aJl'l\4te Its into"",t in llw [IloUity or ill !.hls "sreelnelllln IIftY olher .1 <br /> P8/t)' to thJI ~I OD lu,h temlllllld ~\lndilions as they may agree among themselveM. No part)' <br /> sball attempt to Ilr sell, pan1don or alienate jll; inlereat in the facility or In thls agreement to a non.plll1y <br /> without finl offeriDJ such Interet!. to tbl, other pMI;~. tn rhl~ R8recment under ~uc:h lI:rm~ conditions an I <br /> d procedures u may bt delermln~ by the board of directonl, If the bourcl of directors tails to elllCl <br /> tonnS pnx:cdllreJ and COlldltloos for more than 60 days &nor n\ldu of Intent 10 .liCD~llllP vt:D to lite <br /> board at the addre&S of MASC, The party may lieU, partition or alienate ila IIItcre5t a& il _s fit. , <br /> X. AMENDMENTS <br /> Thisllll'X'rneDt may not be amended exc:ept by Wlanimous vote of the undcrsiif1CCl or th8ir successors I <br /> !II o&ko or In1cn:st && the cue may be. <br /> X. STAft A{rnm <br /> Tile boob, records, documents llnd accounting procedUlU and pnctlces of the CONTRAeroR rele- 1 <br /> Y8nt to thI1 comr....l ~1IIlII be 5ubJa:t 10 examinlltion by thl< conUllctlng doputmonr "nd l.bl Logisllltive <br /> Auditor, <br /> XI. END or TERM-lUGHT OF RENEWAL I <br /> If at the end of the lenn of lhis agreement. MASC in i\li sole dlacretloo elccts to continue to operate <br /> the facility as at least. tQ\ll' surface Ice IItl:nll 0lWh pany may renew Its lIChecluUng rlghus PUT1IUIIUI tu I <br /> tM laDowia, tomI8 and conditiOl\8. <br /> A. No funllor l\I#anllxJ~ IIf ronl4ll'OVOl\UO ..... required from the party , <br /> B. MASC In 15 role disc:retloll will establish reasonable opel1lling &DCl capital reserYc... <br /> C. "Profits" above toose required. for operating reserve purposes shall be distributed pro ratlllO the .. <br /> panle~ under such tennl anll ""lIll1liu,,~ "" lll~ d~rmhlQd by the bovd at dlrect",.,.. <br /> D, Bach pany may renew its rights twice Cot cOllecutive five: year eltllclnslol18. , <br /> E. If a party elec15 1101 be renew its schedulln& rights ~t the end of the ori,lnal or utended lenn of this I <br /> agteelnOllts thai party will be peld Ita pro rata SIIare ottbe operatlnJ lIml CIlJlhlll illIj.lIV'~III"'lll <br /> reserve accounts al1(l shall have no further rights or intereslln the faclllty. <br /> fl, Olhcl rc;a~nllble tetlll5 lUlll condltlQIa and pl'OI;lIduN& may be impn.ed by lhe boArd of directOR I <br /> relatlDllo renewal or non renewal of schedullna: rigbta, <br /> I <br /> Dare Attorney Oenual I <br /> ..- <br /> Date CommissIoner of A4mIni5tnIliQl1 I <br /> Date City \If Moundsvlew I <br /> 6 .. <br /> I <br /> ,- <br />