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I'll.:l.lU j-u'r I I l) LI: IuotrorjCtf Llt,L{rt"pl;1'\'l' ?he Il;rrbcrth Boro*crrr scrrool ir:rtlioricf i!,.arrs toe I I and tlte iiol'ottgll of t{a l-!-rc't}r .).c.y rccs t o prrrcrr.rsc ,rc prcnr-scs clesu-ribecl 'ls the Ilorcruglr of r.larber:ilr !rlcmc.cary schcror, ,.'end whir':h are nolv rcar;cd Lo the Lor.rer r"irrr i o1. sr-.hoor. Dis Lricc.2. rt is unc'crstooc! ;rnci ccjrerld Lo by the parl!g5rereto t.lrat t,'o Elrn Tcrrdco a'.t.gsso.; Ave,:.luc Iolq. anci tslsi.cidrr_iar properEics are not incruc,ec! i^ ano sarc. of the prerni.:csknlrvn as tlre rt.rrberbh tiltlmcntarl, scrroor site ^"0

-r,.,ouoi:rcniscshall rcmain tlre Irrtlpcrtic's of the Lor'.'er ticrion scrrocr Dis tric trhich sholl hclve tlte' solc nowLrr ancl discrctio^ in ilre crisi:csit ionf, same

3 ' I'he co'\'cyance to thc Rorougrr shcr r r bc f or gen-raL public purpiises. rr4. The part j.e s understcn,l rnd ogrce tlr.rt ;r1>prov.rlust be obtai^cd frc,m trre Trustr--e of thc out,standing lJarLrerthsorouglr School Auilrority Rcvr:nue goncls, .garics of Lge4, crr.lcl in_e;rcndenL boncl couns;cl (DaviC jr. [,rarr]:Iin, Esnrrire), as rl conrtj_'ion prccccrent :o trrt? crrrsurrun;t ion of t!r,: ser.c. of thc prc.rnisr:,s;:scrilled hcruin ulclcr '',.'tcr*s Jr^r.r cor,eiicior-rs s,r.t fc>ri!r !ir:rein.5. ,fhc l),ffo^r conEunuiiJt in.; Llrd rLics rr)rJur'$[,.':1 iJ Jlr.r J Jgr-cu:iJrlrt s!r;ll bc ds fcIJc.,.,,s;

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t-rott(1 s of thc !l;rrbur t.h $o::ou,;lrto l'L\t;r;r j n ou t $ ta rlrJ i ug u:t ti l

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L]. .[rr f,J],nlut)t for t!re [,u:.r-.!r;rc of r_l:c su!.r;cc,:relnises ' tlic Borough slrr I J givc Lrre AuLlrol-i Ey i,:s rju)11c.rcr ! 'r.,-igar'i'' bo^crs in a Loc.l pr j ^c ipaI o*ou,r. ;;..r"1o, .,.,o pr:.nc!_'rr anlout'lt of thc llarbcrtlr llorotrgh scrrool ,iuplrori ri. Iur:1cs prcs-nt'ry outstatrd inrr c'ltld rvitlt itt i'tcrest rate equJr to 're i'teresate on tha'ut,:-rtu^clirrg bo'ds.f ic Au,rorit5,.c' l'ht-'Aur'lror:it,',wirr trJnsfcr Llresc bo'ds ofhe Borough to thc 1'rtrstcc ;r$ :jL-curit5, for j,uthoritr,,s ou:sr:,rnJ-ng bonrJs' rnct the T'usrac'..rir l cJcf*auo-ln.",liltr;; Trusr rncrs,n_urc dated as of Jattuary I , 1.9164, and r+ir r surrcncrc.r the r.ease ofhc scho

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all prirlbipal arrcl intcr.-u,sL I_,;lilrrentj nr.ttltt l.ry thc liorouglr orlj..rr-_H.:".i.:.:^::^"":tr:,.1r]r.narjon !on:ts ro riie i uilrorj.cy (!.:ar. sLrnd on its nore ro ure schoor Disrri"r ;r;;: ;;;.'"'ilr".:;:;";:'f the school District shalr s-rercise jts riqfrt of recepLure i1r_he end of any of thc aforcnrcntioned pariotls, clre School Districcill rePiy to tlie Borotrglr the unarnortize.rr;ccr onhe complcre anrorrizari'on of "t;-;;"; cosrs rvi'ri' rhr: iniri.rrerm of trre rease with sai"d liobcri J' 'siger, rncr' t oE;lny iiucccssonant, but not to excaed $300r000 fr-ry recal)ture at thc c.'cl of. Ec'ears; s100,000 for recal)turc at ,,re cn,J of f i. f te,rn ycars, a'c ,rclralr be no repa)'ment for rny costs outrayt_,d by Robcrt J. Siger,nc., or any succcssor tcnJnt f,or recapturc at Lrrc en-cr of tl.,cnLy'cars or thercaftc'r' Furchcrincrc, if the Boroug, or iiart:errrir s!r,rnal:e cx'r-rpditurcs for c;r'itaI imli6gvL'lncfrt,s, rcy:ai-rs or rcplilccrnc,lco ,re scrroor buirainss cl.cr cn'irons 0,,;;;; ;;;;t irr., yon: pcriocin adclition to alrerations oncl repairs by Robert J. Siqlel, Inc.r a successor tettartt), tlrc'n in the. evc.nt of the exorcise by thechoor District of its rigrrt to recJrrture ab ani,of the afo:..crren_io^cd piriocls ' t'lrc sclrool tj j s Lrict srr;rl r r.rrinburse thc Eori:uglror the rL)asonable fair ln;rrkc't v.'!lu,l of the rcrneining ri fe of said::::;:jrj:o'"uc!nents' re-pairs or rei:lac'emenrs as or rhc c;rre or'il: _..:t::.' rlrc cxis ring t.t:rr.l:urrh Bororlg;;;-;,;:;."::

ottrtltr:r obrigatiorr for rcasa r-nnr..., ..:,-r;rrLrrcc v/llsc rentJl g:r.ryrn:nCS Co the T

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Ii 7' 'l'ltc 1l'r'ti*s uttdurut..rrrd ;rrid ;rgri.e Llr.r'; fcr. rlru afol.,aid thirty-),ear period, no structural r_-tranges, nclCi.tiorrs to t!rexisting structurc or al)y'lcrt, structure sh;rlr be made Lo or on thchool facility wit,hout prior approvlrr in writin,J of rlie Lo.,.,ererion school District' structurer charrges.are defincd hcrein asepital inll:roverne,lts, alterations ancl aCditions, but sliaLl not in:*:;J':: ::i:i:;.::," as the insr.ruarion of drop ceirinss, urc,ucrs and ";;;;;".. "';l:^;T::i"1,::::::'il:.:: :j,;:.;::j::::hanq;c's cJescribcr, in E>;hibi t ,,8,. attaclred hereto]8' rt is uttclcrstood an,J oox'ggr4 by tlrc parEics hercLoliat the school truilclings as presently const.rucLccr witl remain i'sserltially the sanld extcrior 1:h1'sicar configuration as at prcscnio that, Lf circuffistrtllr-.s:5 trarrant, t'csc prcniscs nlay_a,J;rin betilized as a 3:ub1ic school facility,.g. rc-is uncrersLoocr by the parties hci",to 'rat therere grrascrrLly outstanding ;lppro:{in:ltcl1, $177,000 ip principalrnount of the tarbcrth !30rougrr schoor .huttroriti, Doncls, s,-.ries of96'l ' and t'here p'csentry c:

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tl ' rn Lhe event thaE tlrc Lorier l4erion Sclroot Districlralr e'*:ercisc its opt io' Lo. recnpture grc sur:ject !)rernises aset forth herein, but at a latcr tinre sharl decice to resell anciispose of tlte satne, tl:e Parties dgru: tlrat gre Boroug!i of l{.rrbcrlial l have thc rj.grrt to repurclrase ,rc prernises fcrr thc pricq. pa iy the schoor District, uJ:on rccapeure plus thc unamorLized portj_of ilnY improvenlcnts mado l:y ttrc school DiscricE aftcr recar)rure'lscd on the cost tff uont'., clncl d.istributecr ovcr clrc [cirso^.rbr,feco:tolnic life of sai,.l irnl:r.o,,rclncnts/c ti

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