§ 8.  

Latest version.
  • On the termination of the term hereof, by lapse of time or otherwise, the Company shall have the right to remove at its own expense, at any time within six (6) months after such termination, all machinery, equipment, improvements and other property, which it has placed on said premises or has been placed on said premises by others and whose interests to said machinery, equipment, improvements and other property has been acquired by the Company. The Company, however, if required by the City Engineer, before so removing any buildings or improvements placed on said premises, shall furnish to the City a bond in an amount sufficient to cover the reasonable cost of putting the premises back into their condition before the erection thereof, with a responsible surety company authorized to do business in the State of Minnesota, conditioned that the Company will remove such buildings or improvements so to be removed promptly and put back the premises in substantially their condition before the erection of such buildings or improvements. The Company, however, shall not remove any of such buildings or improvements placed by it on said premises while any payments payable by the Company to the City, which have become due and payable, remain unpaid; and after any default in making any payments required to be made by the Company to the City, the City shall have a lien on such buildings and improvements placed or owned by the Company upon said premises, until such payments so in default to the City have been made.