Agreement as to past due rent.
Agreement made _________[year], between _________ company, a corporation duly organized under the laws of the state of _________(company), and _________, as executor of the estate of _________, deceased, as lessee.
_________ estate is owner and holder of two certain leases of land and water power made by company under date of _________[year], for two mill power, and _________[year], for four mill power, and
The mill and buildings located on the premises in city of _________, described in aforesaid grants have been destroyed by fire
Therefore this agreement witnesseth:
Company agrees that for a period of one year from this date it will institute no steps, legal or otherwise, for reentry on leased premises or to recover rents now past due and in arrears, amounting on _________ day of _________ to $_____, and that during such period of one year from date of this agreement lessee shall have full and free opportunity to sell its interest in property described in such leases of land and water power.
In case the interest of lessee in such lands is not sold before expiration of period of one year from this date, lessee agrees to surrender and cancel such grants made by company, on waiver by company of all rents due and in arrears and payment by company to lessee of $_____.
It is further agreed between the parties hereto that in case a sale should be made by lessee of its interest in the property described in such grants, that such sale shall be on condition that purchaser shall, upon taking title, pay to company all rents then past due and in arrears, and sign, execute and deliver with company a contract for electrical power in place and stead of water power referred to in such guaranty, in either the knitting mill or bat mill form of electrical contract, as purchaser shall then elect.
It is further agreed between the parties hereto that lessee shall have right to cancel and surrender above-mentioned grants of land and water power at any time which it may desire, prior to expiration of one year from date hereof, and upon such cancellation and surrender company shall waive and release all payments for rent in arrears, and company shall pay to lessee a sum of $_____.
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