OCR Text |
Show 5 1 equal annual installments, of which the first one shall be 2 paid within one year after such nljotnient and upon execu-8 tiini of the lease therefor, and one each year thereafter 4 for four successive years. Upon or after the expiration 5 of any such lease, or renewal thereof, the United States 6 may take over the property of the lessee which is dependent 7 for its usefulness upon the continuation of the lease, and 8 if it shall do so shall pay to the lessee its net investment 9 in the property taken, not exceeding the fair value thereof 10 at the time it is so token, with reasonable severance 11 damages to property of the lessee not taken. Such net 12 investment or fair value and damages, if not agreed upon, 18 shall be fixed by a proceeding in equity in the district 14 court of the United States in the district in which sucH 15 property, or some part thereof, is situated. If the United 16 States does not exercise its right to take over such property, 17 the Secretary of the Interior may renew the said lease for 18 not more than fifty years, or, in his discretion, may make 19 a lease under the terms hereof to a new lessee, upon the 20 condition that such new lessee shall pay to the former lessee 21 such net investment and damages determined as aforesaid. 22 If such property is not taken over by the United States-, 2li or such new lessee, or such lease renewed, the said Secretary 24 shall extend such lease from year to year until such property -."> is so Uiken over or such lease renewed. |
Source |
Original book: [State of Arizona, complainant v. State of California, Palo Verde Irrigation District, Coachella Valley County Water District, Metropolitan Water District of Southern California, City of Los Angeles, California, City of San Diego, California, and County of San Diego, California, defendants, United States of America, State of Nevada, State of New Mexico, State of Utah, interveners] : California exhibits. |