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Defendants' Exhibit No. 105. 3171
censed motion pictures on projecting machines that are 1 used under Letters Patent owned by said Motion Picture Patents Company; and
WHEREAS, said Motion Picture Patents Company has granted licenses to the party of the first part and to the party of the second part, to lease licensed motion pic . tures from the manufacturers and importers thereof, and to sub-lease such licensed motion pictures to exhibitors licensed by the said Motion Pileture Patents Company to exhibit licensed motion pictures; and
WHEREAS, the party of the first part and the party of the second part are separately engaged \n the business (hereinafter referred to as the "business aforesaid") of leasing licensed motion pictures from the manufacturers and importers thereof, and of sub-leasing such licensed motion pictures to exhibitors licensed by said Motion Picture Patents Company to exhibit them; buying, selling and routing motion picture projecting machines, stereopticons, stereopticon views and slides, and phonographic records; buying and selling parts of motion picture projecting machines and stereopticons, electric light carbons, admission tickets, and similar equipment and sup 3 plies required by exhibitors of motion pictures; and repairing motion picture projecting machines and stereopticons; and
WITEREAS, the party of the first part represents that it is engaged in the business aforesaid, at No. 2104 First Avenue, in the City of Birmingham, State of Alabama ; that it is the sole and exclusive owner of all the right, title and interest in and to the business aforesaid in wnich it is engaged at the place mentioned, and in and to all the property that collectively forms the equipment and stock of motion pictures and merchandise of said business ex 4 cepting motion pictures leased by it from the licensed manufacturers and importers thereof, which motion pictures arc held by it as lessee and are hereinafter referred to as "leased motion pictures;" that its business is the business generally known and referred to as the "Theatre Film Exchange of Birmingham;" and that none of the property aforesaid is mortgaged, hypothecated or in use as collateral security for loans, debts or claims; and
WHEREAS, the party of the first part desires to sell