882.6176 F 51/18
Draft Agreement Number 3 Between the Government of Liberia and Harvey S. Firestone Concerning the Improvement of the Harbor of Monrovia
Memorandum of Agreement (Styled Agreement Number Three) made and entered into at the City of Monrovia, Republic of Liberia this . . . . day of . . . . in the Year of Our Lord Nineteen Hundred and Twenty-five by and between the Government of the Republic of Liberia represented by Edwin Barclay, Secretary of State of the said Republic, hereinafter styled the Government, and Harvey S. Firestone a citizen of the United States of America, resident at Akron, in the State of Ohio, one of the United States aforesaid, represented by . . . . . . . . . . hereinafter styled Lessee, Witnesseth:—
Article I
That provided Agreements numbered One and Two between the parties hereto, Number One providing for the lease of Mount Barclay Rubber Plantation, and Number Two providing for the lease of lands to be selected by the Lessee not to exceed One Million acres, shall be finally consummated in their present or some other form acceptable to the parties, the Lessee is hereby granted the right and option to improve the Harbour of Monrovia in Liberia by constructing the necessary breakwaters, wharfage and lighterage facilities, such option to be exercised and such work to be begun within five years of the execution of this Agreement, and to be pushed to completion with all reasonable speed; provided, however, that such work if undertaken by the Lessee shall be begun before the Government shall itself begin the work of permanently and adequately developing the Harbour facilities. Plans for such development shall be by the Lessee submitted to the Government and approved by it; but the Government agrees to approve plans submitted by the Lessee providing the same are reasonably suitable for the purpose intended; and the Lessee is further given the right, in case he constructs the Harbour as aforesaid, to keep the same in repair, and agrees to perform such repair work as shall from time to time be required by the Government during the term of this Agreement.
Article II
In consideration of the Lessee’s undertaking, as aforesaid, the Government agrees
- (a)
- To repay Lessee the expenditure made by him for the construction and repair work as aforesaid, but in no case to exceed in total [Page 402] the sum of $300,000.00 aside from cost of repairs; payment to be made by the Government in the manner hereinafter provided.
- (b)
- To place at the disposal of the Lessee, lands contiguous to the Harbour and Harbour improvement for the purpose of obtaining the necessary rock and other raw material sufficient for the economical construction of the work. But no charge shall be made by the Government for such lands or the materials taken therefrom.
- (c)
- To assign to Lessee all Port and Harbour dues now levied or that may be hereafter levied or accruing, together with the right to collect the same until the sum so collected shall be sufficient, after deducting thereout the cost of maintenance and operation, to repay to Lessee the cost of all construction work (not to exceed $300,000.00) and of all repair work above mentioned, with interest at Six Percent (6%) per annum on all sums so expended.
- (d)
- The Lessee shall at all times have free access for all its business purposes to the port and harbour facilities above mentioned. The Lessee shall have the right, so long as any part of his expenditures for the improvement, construction work or repair of the harbour facilities, or the interest thereon, shall remain unpaid, to operate the harbour facilities and collect all dues, accounting therefor to the Government at such reasonable times as the Government shall require, and to apply all dues collected upon the amount due to the Lessee for such construction work, repairs and interest.
Article III
It is agreed by both parties hereto
- (a)
- That the Government shall at all times have the right to an accounting and an audit of the expenditures made by Lessee on account of Harbour construction, maintenance and repair and the Lessee undertakes to grant the Government every facility for this purpose.
- (b)
- That the Government may at any time at its option reimburse the Lessee his expenditures or the outstanding balance thereof with interest, on account of said construction, maintenance and repair, in which event the assignment of the Port and Harbour dues, and all further obligations of the Lessee hereunder, shall become null and void. But the Lessee, nevertheless, shall have the right at his own expense to make all necessary repairs to said harbour facilities; and in the event said Lessee shall make expenditures on this account, the Government agrees to reimburse the Lessee for the reasonable cost of such repairs.
- (c)
- The harbour dues shall not be excessive, and shall be fixed with the purpose of covering only the reasonable cost of maintenance, operation and repairs of the harbour facilities, and interest on the investment, and the establishment of a reasonable sinking fund to liquidate the cost of construction within a period of twenty years.
- (d)
- The rights by this Agreement granted to the Lessee shall not be sold, transferred or otherwise assigned by the Lessee to any person, firm, group or trust without the written consent thereto of the Liberian Government previously had; provided, however, the Lessee is expressly granted the right to assign this contract and grant to a corporation which shall be organized by him for the purpose of acquiring this contract and all the rights herein granted to the Lessee; and upon such assignment to such corporation such corporation shall become vested with each and all of the rights herein granted to the Lessee upon the Agreement by such corporation to assume and become bound by all of the obligations herein imposed upon the Lessee; and thereupon such assignee shall become the sole party to this contract in lieu of the Lessee as fully and to the same extent as if said corporation had been named herein as Lessee.
In Witness Whereof the Parties hereto have hereunto set their hands and seals the day and year first above written.
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Secretary of State
For
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