HomeMy WebLinkAboutSTANDARD TEXTILE AMENDMENT TO AGREEMENT FOR DELIVERY OF WATER THROUGH THE AUGUSTA CANAL AMENDMENT TO
AGREEMENT FOR DELIVERY OF WATER THROUGH THE AUGUSTA CANAL
This Amendment to Agreement for Delivery of Water through the Augusta Canal (this
"Amendment ") is made and entered into effective as of the 9 ' day of , 2010 (the
"Effective Date ") by and between AUGUSTA, GEORGIA, a political subdivi of the State of
Georgia ( "Grantor "), and STANDARD TEXTILE AUGUSTA, INC., a Georgia corporation
( "Grantee ").
WITNESSETH:
WHEREAS, Grantor and Grantee are parties to an Agreement for Delivery of Water
through the Augusta Canal dated November 9, 2006 (the "Agreement "), pursuant to which Grantor
granted to Grantee the right to use and derive water power from water channeled through the
Augusta Dam and Canal ( "Canal ") for use in connection with Grantee's business operations
located at 1701 Goodrich Street, Augusta, Georgia ( "Premises ") for a term ending December 31,
2011; and
WHEREAS, Grantee is also a party to a related Lease Agreement and Operations
Agreement with the Augusta Canal Authority (collectively, the "Lease "), pursuant to which
Grantee leased the Premises and agreed to operate and maintain the related hydroelectric project
known as Project No. 9988 (the "Project "); and
WHEREAS, Grantor as an accommodation to Grantee agrees to extend the Agreement to
run concurrently with the term of the Lease, as currently in effect and as extended through May 29,
2016.
NOW, THEREFORE, in consideration of the mutual covenants contained herein and in the
Agreement and other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, Grantor and Grantee hereby amend the Agreement as follows:
1). Section I of the Agreement (GRANT OF RIGHT; TERM) is hereby amended to provide
that the term of the Agreement is extended through May 29, 2016.
2). Section XXII of the Agreement (TERMINATION) is hereby amended to provide as
follows:
This Agreement may be terminated by either party hereto upon sixty (60) months
written notice given to the other party. However, because the Lease as extended will terminate on
May 29, 2016, Grantor and Grantee agree that neither party shall provide any notice of termination
to this Amendment prior to May 29, 2011. Grantor and Grantee acknowledge that this waiver of
the right to terminate prior to May 29, 2011 is for this Amendment only, and any future agreement
or extension shall be subject to termination upon sixty (60) months written notice, unless otherwise
agreed upon by both parties.
3). The parties agree that, except as modified by this Amendment, all other terms, covenants
and conditions of the Agreement are hereby ratified and shall remain in full force and effect.
Wherever a defined or capitalized term is used in this Amendment, such term, unless otherwise
defined herein, shall have the same meaning as given to such term in the Agreement.
IN WITNESS WHEREOF, the parties hereto have executed this Amendment by and
through their duly authorized representatives as of the day and year first written above herein.
Grantor:
AUGUSTA, EORGIA
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Grantee:
STANDARD TEXT AUGUSTA, INC.
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