xt70zp3vt865_150 https://nyx.uky.edu/dips/xt70zp3vt865/data/mets.xml https://nyx.uky.edu/dips/xt70zp3vt865/data/63m46.dao.xml unknown 18601954 14 Cubic Feet 31 boxes archival material 63m46 English University of Kentucky Copyright has not been assigned to the University of Kentucky.  Contact the Special Collections Research Center for information regarding rights and use of this collection. Harkins Family papers Mineral rights -- Kentucky -- Floyd County -- History. Law reports, digests, etc. -- Kentucky. Mining leases -- Kentucky -- Floyd County -- History. Practice of law -- Kentucky. Bankers -- Kentucky. Banks and banking -- Kentucky -- Prestonsburg. Coal trade -- Kentucky -- Floyd County -- History. Lawyers -- Kentucky. American Fuel and Power Company et al., debtors in bankruptcy no. 115 text American Fuel and Power Company et al., debtors in bankruptcy no. 115 2016 1943 1943 section false xt70zp3vt865_150 xt70zp3vt865 ' 113mm: Maw 31 STREET ovum
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BEB‘WEihg

{ions Clinton A. Harrison, Mason herein, and can
abet at a conference hold on July 1. 194.3» between C. «a.
awosxanghy. counsel for ma sue-called Lilient‘nal Gen-mitt“ '
herein, (was? homer, oatmeal for the axe—called. (Ween (.:omdttaa
herein, 3&1. J. Tet-Vane and his counsel, Josesm I}. Barking, and
John ‘.. thus an!) .éiiohard 1:. Bison. counsel for the frost.”
herein. r: mantra“, cow of same}: is attached hereto and made
5»: hart of this reeort. was prmnrea, and at said conference
it: was determined that the said oontraet would be signed; by
5:. J. {mans and the undersigned as ’i‘mstoe rand submitted to
the {hurt for its anugldnrauon and ap'omval.

Ion: Trustee says that me terms of mo contract were
fully discussed at Mid conference and that he in of the opinion
that the cam-contracts shank} he commuted by tau Court and
he asks: the Court that it be egar'mved. fir: anyn than while avid
contwet was: 971:”:th by E. J. mam And me undersigned as
:‘Xmstm the contract should not 13mm airmuva without the
more”). of this Smart. rm:- Trustee respectfully arm»; that
the «Sour-t get down for hearing; the question as; ho whether Mid
contract shall be mpg-nmvnd by the Gout-t and thereby lemme
affective.

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' THIS AGREEMENT made this first day of July, 1945,
between E. J. EVANS, or Paintsville, Kentucky, and CLINTON M.
HARRISON, Trustee of Csrbresth Gas Company.

The parties agreeing that the acreage in the
approximate amount or 35,000 acres owned in fee simple by
Clinton M. Harbiscn, Trustee, located in Bresthitt and Knott
Counties, Kentucky shall be sold to E. J. Evans at the purchase
price of $105,000, E. J. Erase agrees to pay the sun of
$105,000.00 for such acreage. To the extent that title to
ten per cent or less or such acreage shall prove detective
the said Evens agrees that the purchase price shall neverthe-
less be the sun of $105,000.00. To the extent that title to
more than ten per cent of such acreage shall be defective
the said EVans shall have the benefit of en abatement of
the purchase price at the rate of $5.00 per acre for such
excess. Title shall not be deemed defective if the same is
marketable. Should the amount of such acreage exceed
55,000 acres by ten per cent, Evans shall not be obligated
to pay any sun for such excels. Should, however, the excess
acreage above 55,000 be more than ten percent, Ersns shall
pay $3.00 per acre for each sore above such ten per cent
excess. The said Evans shall have the period of three months
within which to examine title and to make the necessary tests
and core drills upon such property to determine the coal
deposits upon such property.

EVans deposits the sum of $12,000.00 with Clinton
M. Hsrhison, Trustee, who agrees to hold such sun of money
and to make payments therefrom against bills, invoices and
charges for said core drilling and tests upon such property
and/or other expenses connected therewith, but EVens shall
be entitled to nothing for his own services in asking such
tests. Any payments made by Clinton.u. Harbiscn, Trustee,

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pursuant to invoices of Evans. hereinabove set out, shall be
deemed authorized and said Harbison shall be relieved tron
any liability by reason of such payments. Said Etans, however,
shall at his discretion have the right to exPend the said sun
of $12,000.00 for such title examination and/or tests and
eXploration in such manner as he deens advisable but he agrees ;
that no more than $500.00 or said one shall be expended for
title examination.

The said Evans agrees to proceed as diligently as
possible with the examination of title and with the making or
such tests and exploration but in view or the conditions
created by the war emergency the parties recognize that he may
not be able to complete the same within the said three months
period. Should such title examination and tests not be
completed at the end of three months from the date of the
approval of this agreement by the United States District
Court for the Eastern District of Kentucky the said Evans
shall have a further period of not to exceed six months
within which to complete such examination and tests and Evans
agrees to pay to Harbison the sum of $500.00 per month on
the first day or each month in advance for each month following
the first three months allowed for such examination and tests
until such examination and tests shall have been fully com.
pleted or until the six months period shall expire, whichever
shall first occur. i

- m said Evans shall have the right to refuse to
accept title to said property only after the completion of
examination of title thereto, the making of the tests thereon
and the expenditure of the said sun of $12,000.00 in full
for such title examination and tests. In the event said
Evans shall exercise such right ofrejection Evans agrees
to deliver to Clinton I. Harhison, Trustee, all reports,

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surveys and results of the title examination and core test
and other exploration sort without charge or expense to the
said Harbison.

In the event that title to said property shall be
acquired by said Erans, Etans agrees that Clinton M. Harbison,
Trustee, Carbreath Gas Company, or the successors and assigns
of either or them, shall have the first right of refusal to
acquire any gas and oil rights with respect to all or any
part of said property upon the some terms and conditions as
may be reflected in a.bona ride offer therefor made to Evans
by any other person or corporation. Said right of refusal
shall be exercised by said Harbison or said ooapany within

} sixty (60) days after nation by said Etans of the terms or
any bona fide offer. ‘

The parties agree that Clinton M. Harbison,
individually, or as Trustee, shall not be liable for any cost
or damage by reason or disbursements or for any other cause.

This agreement is made subject to the approval of
the United States District Court_ror the Eastern District of
Kentucky and the parties agree to seek such approval with
all reasonable diligence.

E. J. Evans shall have the right at his discretion
to refuse to accept the title to the property after he has
expended the minimum sun of $12,000eOO in prospecting the
property and examination of title. The said EVans shall be
required to accept or reject fine title to said property
within nine (9) tenths from the effective date of this
Ingredient. In the event the said Erans shall elect to accept
the title to said property he shall do so by giving a
written notice to Clinton h. Harbison, Trustee herein,
addressed to him at Lexington, Kentucky and sent by registered
mail. Wflhin thirty (50) days after the sending of said
notice the said Evens shall pay to Clinton M. Harbison the

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purchase price for said property and the said Clinton M.
Harbieon shall simultaneously therewith execute, acknowledge
and deliver to the said Erane a deed of his right, title and
interest in and to said property with a eorenant or special
warranty.

The taxes on said property and the rents accruing
therefrom shall be apportioned between the parties hereto
as of the date of the delivery of the deed and the purchase
price of said preperty. '

Said title shall be conveyed in the Court Room of
the United states District Court at Lexington, Kentucky and
shall be approved by the Judge of that Court. I

This agreement shall be binding upon the successors
and assigns of the parties hereto.

If either of the parties hereto shall differ as to
the meaning of any provision in the contract the United States
District Court for the Eastern District of Kentucky shall
have run authority to determine such issue.

Upon the apprOVal of this contract by the Court
Clinton M. Harbiscn, Trustee, shall asks available to Ersns

'sll abstracts of title and maps and any other information which
he possesses relating to the property. Thereupon Evans shall
be authorized to enter upon the property for the purposes of
this agreement.

In tho event Evans injures or destroys any crops
belonging to any tenants on the land he will pay the tenants
therefor and Harbison shall not be liable on account thereof.

It is understood by the parties that there are
subsisting tenancies covering the property or certain portions
or it and in the event the performance of this agreement is
obstructed or interfered with by tenants in possession under
such tenancy contracts or for any other canes beyond the
control or the parties hereto, the parties agree that upon

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application to the Court the Court may extend the time for
performance by EVans in conformity with the nature and extent
of the obstruofion encountered.
IN WITNESS WHEREOF the parties hereto have affixed
their signatures as of the day and year first above written.
E. J. ETANS
CLINTON M. HARBIEEN, TRUSTEE,
CARBREATH GAS COMPANY
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UNITED STATES: DISTRICT COURT
EAETEfi-‘ifi DIflTRICT 0F KEWCX!
A? LEXINGTON
IE TEE MATTER 0F ;
AEEIRICAH FUEL a: 90%‘m COWANI. ) IN BAHKRHPTCY
ET AL. , )
) no. 116
mamas.)
‘ 01mm
This ounce coming on to be heard unoa the report ‘
at the Trustee relative to a contract between E. J. Fvann
end the Trustee pravidlng for E sale of the fea simple land
belonging to Carbreath Gas Conpsn: and flaking the fourt to
fietermine whether the said contract should.be unwroved. and
the Court being advlsed.
IT 15 ORDERED if”) WUBGED that this action be
get far hearing on the g day of {QM/47¢} at
ten o'clcek 1n the morning in the Court Room of the United
3tatas Court for the Eastern District of Kentucky on the
cueatinn as to whether or not the said contract shculd be
approved and carried out.
/ H CHURCHFOHD
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