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upr000089 143

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upr000089-143
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disbursed for the purposes hereinafter stated* Section 6 * Upon commencement of construction by Union Pacific of the said pipe line facilities and pumping station re­ferred to in Section 2 hereof the said Bank shall pay to the Un­ion Pacific all amounts then deposited in said trust fund plus interest! if any, and thereupon the obligation of the District to make payments into said trust fund as provided in Section 5 hereof shall terminate. Thereafter the District shall pay monthly to the Union Pacific on or before the tenth (10th) day of each month the sum of Twelve Hundred Fifty Dollars ($1,250*00) until the Union Pacific shall have been reimbursed for the entire cost of said pipe line facilities and pumping station plus in­terest on unpaid balances thereof at the rate of per annum* Until the District shall have paid the Union Pacific in full the amounts required to be paid to Union Pacific under the terms of Sections 6 and 7 of this agreement, the title to said pipe lines and pumping station constructed by Union Pacific pursuant to the provisions of Section 2 hereof shall remain in the Union Pacific* So long as the Union Pacific shall con­tinue to make the monthly payments provided for in Sections 6 and 7 hereof, the District shall have the ri^ht to possess and use the said pipe lines and pumping station. During all tha time the District shall be in possession of and use said pipe linas and pumping station, the District at its sole cost and expense shall maintain said facilities in good condition in accordance with sound engineering practice* When the District shall have paid in full to Union Pacific the amounts required to he paid under the provisions of Sections 6 and 7 hereof,Un­ion Pacific shall convey the said pipe lines and pumping sta­tion to the District* Section 7 . Within thirty (30) days after the com­pletion of said pipe line facilities and pumping station the District, at its sole expense, shall connect thereto its wa­ter producing facilities and shall within six (6) months af—