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minutes board of supervisors, harrison county, mississippi minute

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3<br />

then grantor shall notify the grantee <strong>of</strong>the abandonment. Ifgrantee does not restore the subject<br />

property to the uses described above intended by this conveyance within one hundred and eighty<br />

(180) days, then title to the property shall revert to the grantor or its assigns free and clear <strong>of</strong>all<br />

claims <strong>of</strong>the grantee. This possibility <strong>of</strong>reverter shall be subordinate to any lien, claim or right<br />

established by grantee in favor <strong>of</strong>any holders <strong>of</strong>bonds, notes or other indebtedness <strong>of</strong>the<br />

grantee, in any case where the utility system <strong>of</strong>grantee or any <strong>of</strong>its revenues shall be pledged to<br />

secure said bonds, notes or other indebtedness <strong>of</strong>the grantee, which subordination shall remain<br />

in force for so long as any portion <strong>of</strong>any indebtedness evidenced by any such bonds, notes or<br />

other evidence <strong>of</strong>indebtedness shall remain unpaid.<br />

It is further understood and agreed that this instrument constitutes the entire agreement<br />

between the grantor and the grantee, there being no oral agreements or representations <strong>of</strong>any<br />

kind.<br />

EXECUTED this the day <strong>of</strong> , 2009.<br />

HARRISON COUNTY, MISSISSIPPI<br />

By:<br />

PRESIDENT<br />

HARRISON COUNTY BOARD OF<br />

SUPERVISORS

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