§ 2. If at any time hereafter, by operation of law or judicial proceedings or otherwise, either party hereto, or any Receiver, trustee under mortgage, or other person for it, shall have the right or option to terminate this agreement, then and in such case the other party, its successors and assigns shall also have the right to terminate it. ARTICLE VIII. This agreement shall extend to and be binding upon the respective lessees, successors and assigns of each of the parties hereto and shall run with the property. ARTICLE IX. The aforesaid agreement of November 26, 1899, as well as agreements supplementary thereto, are hereby terminated; but each party hereto shall nevertheless have the right to recover from the other party hereto any obligations or liability which may have accrued thereunder while the same were effective and in operation. It is further agreed that on the execution of this agreement, the agreement heretofore entered into between the Burlington Company and the Wabash Railroad Company, dated August 1, 1900, and covering certain facilities at Fall Creek, Illinois, shall be cancelled. In Witness Whereof, the first party and the said Wabash Railroad Company have caused their corporate names to be hereunto subscribed by their proper officers and their corporate seals to be affixed and attested by their respective Secretaries, and the Receiver being thereunto duly authorized has hereunto set his hand, the day and year first above written. [SEAL] Chicago, Burlington & Quincy Railroad Company, SUPPLEMENTAL AGREEMENT, November 1, 1915, Chicago, Burlington & Quincy Railroad Company and Wabash Railway Company. This Supplemental Agreement, made and entered into this first day of November, 1915, by and between the Chicago, Burlington & Quincy Railroad Company, a corporation, created under the laws of the State of Illinois, hereinafter called the "Burlington Company," first party, and the Wabash Railway Company, a corporation, created under the laws of the State of Indiana, hereinafter called the "Wabash Company," second party; Witnesseth: That, Whereas, under a certain contract, of date January 1, 1914, between the Burlington Company as first party and the Wabash Railroad Company, and Edward B. Pryor, Receiver of said Wabash Railroad Company, as second parties (the said second parties being referred to in said contract as the "Receiver"), the Burlington Company granted unto said Receiver the right to use during the term of said receivership, under the terms and conditions set forth in said contract, the railroad of the Burlington Company between Quincy, Illinois and East Hannibal, Illinois, as in said contract described and as shown in red on plat No. 26051-C attached to said contract and made a part thereof, the said railroad of the Burlington Company as so described and shown being referred to in said contract as the "joint line"; and, Whereas, effective on the date hereof said Receiver was discharged, said receivership terminated and the Wabash Company became the successor of the Receiver, and the parties hereto desire to continue said contract, as hereinafter amended, in force and effect for the term hereinafter set forth; Now, Therefore, in consideration of the premises it is agreed by and between the parties hereto as follows: I. Plat No. 26051-D, with the said joint line shown in red thereon, hereto attached, identified by the signatures of W. L. Breckinridge, Engineer Maintenance of Way of the Burlington Company, and A. O. Cunningham, Chief Engineer of the Wabash Company, and made a part hereof, is hereby substituted for said plat No. 26051-C attached to said contract, and said last named plat is hereby made void. II. The sum of Eighteen Hundred and eighteen dollars and sixty-four cents ($1818.64) per month, provided in Section 1 of Article II of said contract to be paid to the Burlington Company as rental for the use of said joint line and the rights and privileges granted in said contract shall be, and the same is hereby, amended to read Eighteen Hundred and fifty-four dollars and twenty cents ($1854.20) per month, and the Wabash Company hereby agrees to pay to the Burlington Company said sum of $1854.20 per month as rental for the use of said joint line. The Wabash Company further agrees to pay to the Burlington Company for the use of said joint line an annual sum equal to two and onehalf per cent (22%) interest, from the time when expenditure for each thereof shall be made, upon that portion of the cost of all additions, betterments and improvements which the Burlington Company may make to and on said joint line, and upon that portion of any assessments lawfully levied on said joint line and actually paid by the Burlington Company, which shall, under the rules of accounting then prescribed by the Interstate Commerce Commission be chargeable to capital account; and also such additional monthly sum as the General Managers of the parties hereto shall agree upon as representing the Wabash Company's proportion of the cost of maintenance, repair, renewal, operation and taxes on said additions, betterments and improvements. III. The said contract of date January 1, 1914, with all its terms and conditions as herein modified and amended, shall inure to the benefit of and be binding upon the parties hereto, their successors and assigns, and shall continue in force and effect for the term of One (1) year from the date hereof, and thereafter until terminated upon One (1) year's notice in writing by either party, unless sooner terminated under the provisions of Article II, Article V, or Section 2 of Article VII of said contract. In Witness Whereof, the parties hereto have caused their corporate names to be hereunto subscribed by their proper officers, and their corporate seals to be affixed and attested by their respective Secretaries, or Assistant Secretaries, as of the day and year first above written. On May 3rd, 1918, the Burlington Company completed some track changes and installed a track in the vicinity of Adams and Monroe Streets, Quincy, Ill., at an expense of $5,873.57, for the purpose of serving the American Strawboard Company, the said track so installed being shown in red on attached Burlington print No. 53569. This track serving the Strawboard Company and running in a northwesterly direction leads out of the Burlington main line which is used jointly by the Wabash under contract dated January 1st, 1914, and supplemental agreement dated Nov. 1, 1915. It is understood that, effeetive Jan. 15th, 1923, the Wabash Company shall likewise be permitted to use said trackage, shown in red on attached print, such use by the Wabash Company to be subject to all the terms and conditions of said contract dated Jan. 1st, 1914 and supplemental agreement dated Nov. 1, 1915, covering joint use of Burlington main line. It is agreed that for the use of said trackage, shown in red on attached blue print, the Wabash Company will pay to the Burlington Company the sum of Four Hundred Thirty Dollars and Fifty Two Cents ($430.52) per annum, computed upon the following basis: 22% per year on $5873.57...... Perishable material renewals-15 yr. life. Permanent material, 50% net renewals 20 year life... Wabash wheelage proportion-87%. Taxes ($130) Wabash proportion-50%.. $146.84 .$ 96.78 54.58 100.00 $251.36 $218.68 65.00 $430.52 Bills rendered the Wabash Company under said contract dated Jan. 1, 1914, and supplemental agreement dated Nov. 1, 1915, shall be increased to cover the amount herein agreed to be paid by the Wabash for the use of said trackage shown in red on print hereto attached. This supplemental arrangement as to said trackage, shown on attached print, may be terminated by either party giving to the other ninety (90) days' notice in writing of its desire to terminate the same and unless so terminated shall run concurrently with, and terminate with, said contract dated January 1st, 1914 and supplemental agreement dated November 1st, 1915. This letter is written and executed in duplicate by me, and if the terms and conditions as herein set forth meet with your approval, please likewise execute both copies for the Wabash and return one of the copies to methis letter agreement to stand in lieu of formal supplemental contract. Yours truly, Accepted: Wabash Railway Company, By S. E. COTTER. Form approved: N. S. BROWN. Approved as to form, THOS. J. LAWLESS. W. F. THIEHOFF, Chicago, April 11, 1923. Mr. S. E. Cotter, VP&GM, Wabash Ry. Co., Dear Sir: You are using certain Burlington facilities Quincy to East Hannibal under terms of contract of January 1st, 1914 and supplement of November 1st, 1915, on an interest rental and user basis. The second paragraph of Article 2 of the supplemental contract above mentioned states that your company is also to pay 22% per annum interest from the time when expenditure for each thereof shall be made, upon that portion of the cost of all additions, betterments and improvements which the Burlington Company may make to and on said joint line. In 1919 certain trackage was constructed to lead out of the joint line to serve the American Strawboard Company, and your company expressed a desire to use such trackage on the basis of the second paragraph of Article 2 above mentioned. After such trackage to the Strawboard Company was completed, your company decided that it would be cheaper for you to pay a switching charge on all business that came in or out of these tracks via your line than to secure the use of the tracks on the interest rental and user basis mentioned in Article 2 of the supplemental contract. The latter part of 1922, you decided that you would like to use the tracks on the said interest rental and user basis. This you will observe is the third decision made by your company in connection with this particular trackage. We have no assurance but what some day if conditions change, your company may serve a notice on us that you will discontinue paying the interest rental, maintenance, etc. charges for use of the said trackage and go back to the switching arrangement. I am sure you will agree with me that the contracts above mentioned did not contemplate that your company was to be at Liberty to use the tracks under one arrangement for one period and on another arrangement for a second period and, perhaps, go back to the first arrangement at a third period. It seems to me we should at the present time arrive at an understanding for future guidance that after your company once decides to join in the use of industrial trackage under the contracts in question, per the provisions of Article 2 of the supplemental contract of November 1st, 1915, your company is not to have the privilege of withdrawing from that arrangement during the life of said agreements; also that if your company once decides that you do not care to join in the use of such industrial trackage under the provisions of said contracts, you have not at some later date a right to withdraw such decision and demand right to use of the industrial trackage. We gave you the benefit of the doubt in the case of the trackage serving the American Strawboard Company, but we do not feel that we should leave the situation, with reference to other tracks, in such a position that we will have a recurrence of the American Strawboard case. We are perfectly willing to agree to the same understanding in connection with contracts of January 1st, 1914, and supplemental contract of November 1st, 1915, whereby we use your facilities between Bloomfield and Moulton. I should be glad to receive acknowledgment from you of this letter, and advice that the proposition herein outlined is acceptable to your company. Yours very truly W. F. THIEHOFF, |