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replacement. In t;e event of disagreement, MCR reserves the <br /> right to terminate the magnetite/limestone plant Operating <br /> Agreement forthwith, in which event PITKIN shall deliver <br /> possession thereof to MCR and will sell MCR it ' s inventory of <br /> bags, supplies, replacement parts, and other accessory assets at <br /> cost. <br /> 10. Terms on amounts owing by PITKIN to MCR shall be <br /> net 30 days. ' Each party shall have the right of offset. <br /> 11. Limestone quarried and delivered in stockpile at <br /> the limestone/magnetite plant for use by MCR shall be billed to <br /> MCR at $6 . 50 per net ton, and limestone quarried and placed in <br /> stockpile for sale to other customers by PITKIN shall be <br /> estimated and stockpiled at PITKIN' s expense. Detailed scale <br /> weights shall be maintained and provided by PITKIN, available for <br /> inspection by MCR to verify quantities of limestone delivered to <br /> MCR, and those delivered to other customers. The same procedure <br /> shall be followed with respect to magnetite. <br /> 12. In addition to the foregoing, PITKIN shall pay MCR <br /> a rental on the limestone/magnetite plant at the rate of $3.00 <br /> per net ton to be billed monthly for the preceeding month, with <br /> terms net 30 days. The right of offset shall obtain as to this <br /> $3. 00 per ton. <br /> 13. Either party shall have the right to terminate <br /> this agreement in the event of default by the other party, upon <br /> giving not less than ten ( 10) days advance notice in writing, to <br /> be delivered to the other party, and with the right by the <br /> defaulting party to make correction within said ten ( 10) day <br /> period and thereby avoid the cancellation caused by default. <br /> 14. The term of this agreement shall be for five ( 5 ) <br /> years from the date hereof, and from month-to-month thereafter <br /> upon the expiration of the primary term, subject to the condition <br /> that either party may request in writing re-negotiation of price <br /> or terms and if agreement is not reached within ninety ( 90) days <br /> following notice, then either party shall have the right to <br /> terminate this agreement at the expiration of said ninety ( 90) <br /> day period. <br /> 15. This Agreement shall not be assigned without prior <br /> written consent. <br /> THIS AGREEMENT shall inure to and be binding upon the <br /> parties, their successors and assigns. <br /> 3 <br />