HomeMy WebLinkAboutDeed to Secure Deet to Region Bank
Augusta Richmond GA
DOCUMENT NAME: D E.€:\> TO S~ ctllLE l:> E;"\?'T -ro RE'd I CJ "" S t,4Nr<:'..
DOCUMENT TYPE' ,.,
. H~~~GM ~I
YEAR: J 9 qq
BOX NUMBER: 'I
FILE NUMBER: J if ~ 9 8"
NUMBER OF PAGES: 3
"
AGREEMENT FOR RELEASE AND DISCHARGE
OF REAL PROPERTY FROM
DEED TO SECURE DEBT AND SECURITY AGREEMENT
FROM RICHMOND COUNTY PUBLIC FACILITIES, INC.
TO REGIONS BANK, AS TRUSTEE
~
THIS AGREEMENT entered into /~ ~1 /)f:' r{flJM , 1999 by Augusta, Georgia, a
political subdivision of the State of Georgia.
WHEREAS, Richmond County Public Facilities, Inc. Certificates of Participation
(Augusta Golf Course Project) Series 1998 (hereinafter the "Certificates"), were issued pursuant
to a Trust Indenture between Richmond County Public Facilities, Inc, (hereinafter "Facilities")
and Regions Bank, as trustee (hereinafter the "Trustee"), dated as of June 1, 1998, as amended by
the First Amendment to Trust Indenture between Facilities and Trustee, dated as of December
18, 1998; and
WHEREAS, the Certificates were issued to finance the cost of certain improvements to
the Augusta Municipal Golf Course owned by Augusta, Georgia and the Certificates are secured
by a Deed to Secure Debt and Security Agreement from Facilities to Trustee, dated as of June 1,
1998, recorded in the office ofthe Clerk of Superior Court of Richmond County, Georgia at
Realty Reel 601, page 2395 (hereinafter the "Security Deed"); and
WHEREAS, Augusta, Georgia and Facilities have asked the Trustee to release from the
Security Deed a 23,30 acre tract ofland described in Exhibit "A" attached hereto, which is
vacant land and not being used as part of the golf course, in order that the City of Augusta can
lease said land to FORE! Augusta Foundation, Inc. to be used as a site for the construction,
operation and maintenance of a golfing facilities for children and youth; and
1
-;
WHEREAS, the holders of all of the Certificates have consented to the release of the
Property from the Security Deed; and
WHEREAS, the Trustee is willing to release the Property from the Security Deed upon
receiving, among other things, this Agreement from Augusta, Georgia;
NOW, THEREFORE, in consideration of the premise and the release of the Property
from the Security Deed, Augusta, Georgia agrees to indemnify and hold harmless the Trustee
from and against any liability, claim, judgment, cost, expense or other obligation incurred by the
Trustee arising out ofthe Trustee's release of the Property from the Security Deed.
IN WITNESS WHEREOF, Augusta, Georgia has executed this Agreement under seal.
Mayor
~lerk
---.- ,....--~--
.",.. .
[SEALr<. '.,r;. _ : ~;.-
/;'~-' .,.-
;..~{;..
/~~- -; ',-:~ - ~:? "
,. . ~ ;::4
.-
~
,~$
2
~
i
EXHIBIT" A"
All that tract or parcel ofland situate, lying and being in Augusta-Richmond County,
Georgia, shown and designated as "Tract 'B' /23,30 ac." on a compiled map for the First Tee,
Augusta, dated March 12, 1999, revised May 24, 1999, prepared by Cranston, Robertson &
Whitehurst, P.C. which compiled map is incorporated herein by reference for a more complete
description of the location, metes, bounds, courses and distances of said Tract "B",