Heating Plant Cost
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Heating plant cost.
Buyer agrees to buy and seller agrees to furnish from the power plant, presently furnishing steam to the building, heat to 72° F. at a cost comparable to that charged by the average of any three local steam suppliers. The price in no event shall exceed $_____ per 1,000 lbs. This arrangement shall remain in effect so long as steam is supplied in a satisfactory manner. If during the next 10 years a qualified heat engineer determines seller or its successors is not supplying steam to these standards, buyer shall have the right to install a heating plant and seller will guarantee to pay half of the cost of the installation with a maximum liability of $_____.
Seller shall pay its share of the installation by deducting the sum from the note and mortgage. Seller represents that a power and steam company is being formed which may supply electricity at a rate of not in excess of commercial electrical rates, and the company has agreed to supply any customer in the building. The same company shall supply steam at prevailing commercial rates determined by the average charge by any three local steam suppliers but not exceeding $_____ per 1,000 lbs. The said power and steam company has agreed not to terminate its agreement to furnish steam except after giving six months’ notice in writing unless failure is caused by acts or accidents beyond control of the power plant. Such provisions shall represent the maximum of the liability assumed by seller.