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THIS AGREEMENT entered into between R. C. Larkin Company, <br />3001 South Wabash Avenue, Chicago, Illinois, party of the first part, <br />and the CITY OF SOUTH BEND WATER WORKS, SOUTH BEND, INDIANA, party of <br />the second part, witnesseth that: <br />The party of the first part hereby grants unto the party <br />of the second part, an option to purchase a certain Lorain Model "40 -A" <br />Combination Dragline and Clamshell machine, that the party of the second <br />part has leased from the party of the first part under a certain lease <br />dated March 26 1941, for the sum of Eighty -five Hundred and <br />No /100 Dollars (98500,00) <br />All rentals paid applicable against purchase price at <br />value shown above plus simple interest at Six percent (6°fo) on unpaid <br />balance. If machine is paid for in full in 30 days from date of lease, <br />no interest charge will be made. <br />At the time rentals equal value as shown and upon payment <br />of interest, Lessor agrees to give bill of sale to Lessee and transfer <br />the equipment with good title, <br />IN WITNESS WHEREOF, the parties have hereunto set their <br />hand and seals this 26th day of March , 1941. <br />CITY OF SOUTH BEND WATER WORKS <br />By Harry S, Driggs <br />By Nathan Levy <br />By Clyde E. Williams <br />R. C. LARKIN COMPANY <br />BY R. D. Larkin <br />President <br />Subscribed and sworn to before <br />me this 26th day of March, 1941. <br />Anthony R. Gloyeski <br />Notary Public <br />My Commission expires 10 -2 -44 <br />(SEAL) <br />