HomeMy WebLinkAboutGeorgiaparts Authority and Richmond Bonded Warehouse
DOCUMENT TYPE: ~e.0~c
YEAR:
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FILE NUMBER: \ L\ '5\ g
NUMBER OF PAGES: -J '-~
Augusta Richmond GA
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THIS INDENTURE OF LEASE, Made and entered into as of
the 30th day of June, 1969, by and between the GEORGIA PORTS
AUTHORITY, a public corporation and instrumentality of the State
of Georgia and existing under the law.s of this State, 'hereinaftpr
referred to as "Lessor," and RICHMOND BONDED WAREHOUSE
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CORPORATION, a Georgia corporation, with its principal office pndi
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place of business i.n Richmond County, Georgia, hereinafter called:
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"Lessee."
W I T N E SSE T H:
Lessor and Lessee, in consideration of the mutual
covenants and agreements hereinafter set forth, do hereby agree
as follows:
1. Lessor hereby leases to Lessee the land describeg
in Schedule "A" hereto attached and by reference made a part
hereof, for a term of fifty (50) years from date, at an annual
"base ground rental" of Six Hundred and Fifty Dollars ($650.00)
per acre, with the rental for a fraction of an acre to be a sum
equal to the ratio that said fraction of an acre bears to $650.00~
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Said "base I
ground rental" shall be subject to adjustments as hereinafter set,
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2. Lessor hereby gives, gr.'lnts, and conveys to Lessee
Such SL@ shall be payable in equal monthly installments in
advance on or before the tenth day of each month.
forth in paragraph 4 below.
the right and option to lease additional land described in
Schedule "B" hereto attached, and made by reference a part
hereof, said option to continue for a period of three (3) years
from date; provided, however, that Lessee shall pay to Lessor
as option money, on or before each anniversary date of this
lease agreement, a sum equal to One Hundred Dollars ($100.'00)
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per acre, with a fraction of an acre to be based upon a sum equali
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to the ratio that said fraction of an acre bears to $100.00.:
The option money for the first year of said option is paid con-
temporaneously with the execution of this agreement of lease.
Lessee may exercise said option by written notice to Lessor, at
the address shown herein, at any time during said period of five
years, so long as E
advance and said 01
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such notice in writ
LEASE: Richmond Bonded Whse, Augusta, Ga.
thereafter become
Original lease signed July 18, 1967 for five (5)
years.
hereof in as full
LEASE - June 30, 1969
Reference pg. 2, "period of five years 11 is an
error. It should read "three (3) years". [
The above as per conversation with G. J. Nichols
and Mary Hann, July 14, 1972, 1:00 p. m.
herein; provided,
lease of said land
poraneously with tl
in paragraph 1 above.
3. Lessee has heretofore constructed and is operating
on said premises, a general purpose warehouse building, with
suitable office space, containing a total of not less than
seventy-fiv~ thousand (75,000) square feet, and for no other
purpose.
Said building was paid for by the Lessee according to
(a)
Lessee agrees, ,.
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It is recognized and agreed by the parties heT~to I
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plans and specifications approved by the Lessor.
from time to time, to expand s2id facilities as needed.
that the Lessee will borrow funds for the construction of said
improvements, and Lessor agrees to execute a consent to the
transfer and assignment of this lease by Lessee to any approved
financing institution, as security for a loan for the construc-
tion of said improvements, not to exceed eighty per cent (80%)
of the appraised value of said improvements plus the value of
this leasehold interest, with said consent to further recognize
and agree to a provision wherehy any such lending institution
shall have the right to foreclose on such leasehold interest
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in the event of default by the Lessee, and to sell said Lease-
hold interest to third parties, so long as said lending institu-
tion, or any other purchaser of such leasehold rights on fore-
closure shall fully comply with all the terms and conditions of
this lease agreement.
(b) The improvements now or hereafter to be constructep
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1 above, shall be increased or decreased as hereinafter set fort1:
(a) The provisions of this paragraph 4 shall be ,
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hereon by Lessee shall become a part of the realty and shall
become the property of the Lessor, subject to the leasehold
interest of Lessee hereunder and to all of the other rights set
forth herein vested in the Lessee.
4.
The base ground rental, as set forth in paragraph
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effective for each calendar year beginning with the first day of
January next following six (6) years from date hereof, or one (1)
year after the final completion of the Cross-Florida Canal noW"
under construction by the U. S. Engineers, whichever is later.
(b) During any calendar year subsequent to the effec-
tive date of this. paragraph, as defined in (a) above, if Lessee
shall cause to move on the Savannah River and be brought into
its warehouse or through its facilities via water transportation
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agrees to pay as base ground rental, under the terms of paragrap
less than 25,000 long tons, Lessee for any such calendar year
1 above, the sum of Nine Hundred Dollars ($900.00) per acre per
year or fraction thereof.
(c) During any calendar year subsequent to the effec-
tive date of this paragraph, as defined in (a) above, if Lessee
shall cause to move on the Savannah River and be brought into
its warehouse or through its facilities via water transportation!
more than 25,000 long tons but less than 50,000 long tons, the
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base ground rental to be paid as defined in paragraph 1 above,
shall be reduced to Five Hundred and Seventy-five Dollars
($575.00) per acre per yeor or fraction thereof.
(d) During any calendar year subsequent to the
effec- :
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Lessee I
tive date of this paragraph, as defined in (a) above, if
shall cause to move on the Savannah River and be brought into I
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its warehouse or through its facilities via water transportationl
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50,000 long tons or more, the base ground rental as defined in )
paragraph 1 above shall be Five Hundred Dollars ($500.00) per
acre per year or fraction thereof.
5. It is recognized and agreed by the parties hereto
that the original warehouse constructed hereon was built at an
elevation of one hundred and thirty-three (133) feet above sea
level, Rnd l,essor agrees ,to pay one-half of the cost of the fill
for that portion of the leased premises on which said warehouse
was actually constructed, but on no other portion of said leased
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premises.
Lessee agrees to pay the remaining one-half of the
cost of such fill, provided, however, that the total cost of
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paid to Lessor in equal monthly installments uS additional rental,
and with the right vested in Lessee to anticipate such additiona}
rental payments in full at any time during said five-year period~
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said fill be paid by Lessor, and Lessee hereby agrees to repay
one-half of the cost of such fill over a perJ.od of five years
from July 1967, with interest at 6% per annum, said sum to be
with interest to abate proportionately.
The cost of the fill
shall incJ.ude, but is not limited to, the necessary diking,
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sampling, compaction, and any other cost or expense elf the
placing of the fill for the construction purposes aforesaid.
6. Lessor agrees to install, at its own cost and
expensl~, additional water facilities and extend such water
service to the property of Lessee, in order to provide fire
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fire hazard of such preml,ses. Lessee shall and will during the
full term of the lease, and at its own cost and expense, carry
pubU.c liability insurance in limits commonly known as
$200,000.00 and $500,000.00 for injuries to anyone person and
$200,000.00 per accident with respect to property qamage.
Lessee further agrees to indemnify and save the Lessor harmless
from any loss, damage and liabilil:y occasioned by, growing out
of, or arising or resulting from any default hereunder or any
tortious or negli.gent act on the part of Less\!e, its agents or i
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employees. The Lessee shall also provide and keep in forc:e for I
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storm insurance in an amount equ:J.valent to the cons truct:i. OTt cosci
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of all the facilities erected on said premises during the term I
the benefit of the L~ssor general comprehensive fire and wind
, of this lease. The aforesaid fire (md wind storm insurance
! policies shall be made payable to both Lessor and LRssee as
their interests may appear.
13. Lessee shall furnish and pay for elll utilities.
14. Lessee shall not assign this lease nor allow any~
part of the leased premises to be used by others without the
written consent of Lessor, except as provided in paragraph 3
hereof.
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The parties agree that i.f, auring the term here-i
of, the demised premises, including all improvements erected
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thereon, or any parf: thereof, be rendered untenantable by
fire or other elements or other casl~laty (except such as shall
have resulted from the negligence of the Lessee) that the
Lessee shall have an option to determine whether or not it
wishes to rebuild said damaged or destroyed improvements and
if it determines not to do so, shall have a right to terminate
this lease, provided, however, that if the premises cannot by
reasonable efforts be restored to their former condition
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~ithin twelve (12) months, either the Lessor or the Lessee shali
have the option of terminating this lease by written notice to
the other. In the event of tenllination, all proceeds from the
fire insurance policies as aforesaid shall be paid to Lessee.
16. If the Lessee shall at any time be in default in
the pa~nent of rent herein reserved, or in the performance of
any of the covenants, terms, conditions, or provisions of this
lease, and the Lessee shall fail to remedy such default within
ten days after written notice thereof from the Lessor; or if
the Lessee shall be adjudged a bankrupt, or shall make an
. assignment for the benefit of creditors, or if Cl receiver of
any of the property of the Lessee in or l1pon said premises be
appointed in any action, sldt, or proceeding by or against the
Lessee, or if the interest of the Lessee in said premises shall
be sold under execution or other legal process, it shall be
lawful for the Lessor to enter upon said premises, and again
have, repossess and enjoy the same as if this lE!ase had not
been made, and thereupon this lease a,nd everytlil.ing contained
on the part of the Lesnor to be done and performed shall cease
and detenuine without prejudice, however, to the right of the
1.essor to recover from the Lessee all rent due up to the time
of such entry. In case of any such default. and entry by the
Lessor, said Lessor may re-let said premises for the remainder
of said term for the highest rent obtainable, and may recover
from Lessee any deficiency between the amount so obtained and
the rent herein reser'led.
17. All notices requb-ed by this lease to Lessee
shall be delivered in person or mailed by United States Mail
to Les~~ee at the premises herein leased, in Augusta, Georgia,
and all notices required by this lease to Lessor shall be
delivered personally in \vriting or mailed by United States Mail
to Lessor at Garden City Terminals, Garden City, Georgia.
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18. This lease is i.ntended to replace that one between
these parties of July 18, 1967, and said leas..;: of July 18, 1967,
is hereby cancelled and terminated.
19. This lease and all the covenants, provisions, and
conditions herein cO:1.tained shall inure to the benefit of' and be
binding upon the successors and assigns of the p.arties hereto.
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IN WITNESS WHEREOF, the Lessor and Lessee have
caused these presents to be executed by their respective
proper officers, in duplicate, and their corporate seals
affixed, on the day and year first above written as the
date hereof.
Signed, sealed and delivered )
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in the presence of:
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Signed, sealed and delivered )
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in the presence of:
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Notary Public !:r,. "iD.<I"--d"'(
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GEORGIA .PORTS AUTHORITY
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BY: ,/'.,,://.,'lJr: :~) ( (.',-,,,-..,- ,:::),,"L-'-'
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ATTEST: ,/1 C." ./ ,10 ( L ~\,.
Secret ry~Treas~r
BY:
ATTEST:
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SCHEDULE "A"
All that tract or parcel of land situate, lying and
being in Augusta,' Richmond County, Georgia, consisting of
si.x and thirty-;-nine one'-hundredths (6.39) acres, as more
particularly shown as Parcel 4 on a plat made by Ernest E.
Pund and Zimmerman, Evans & Leopold, dated March 14, 1967,
which is hereto attached and made by reference a part here0f.
Together with rights of ingress and egress for
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way and railroad purposes over and across the lead track and
paved road of the Georgia Ports Authority running to said
Parcel 4.
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SCHEDULE "B"
All that tract or parcel of land situate, lying and
bein~ in Augusta; Richmond County, Georgia, consisting of
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three and thirty-four one-hundredths (3.34) acres, and known I
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and designated as Parcel No. 5 on a plat made by Ernest E.
Pund and Zimmerman, Evans 8, Leopold, dated March 14, J967,
which is hereto attached and made by reference a part hereof.
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STATE OF GEORGIA
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COUNTY OF FULTON
We, the undersigned officials of the State of Georgia,
a.J1!1~ In.....'"" ~dl1d.b:lbY do... Ill~ ~.
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n TO".: ~... ~~f>>
." Ill' ..... 1_ l:> IIif II, doh ere b yap p r.o vet hat c e r t a i n Lea sed ate d as 0 f
the 30th day of June, 1969, by and between the GEORGIA PORTS
AUTHORITY and RICHMOND BONDED WAREHOUSE CORPORATIO~, which
said Lease concerns certain real property owned by the Georgia
Ports Authority in Richmond County, Georgia.
This the 1st day of July, 1969..
Attorney General
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~EST B. DAVIS
State Auditor
STATE OF GEORGIA
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COUNTY OF CHATHAM
WHEREAS, The Georgia Ports Authority, a public
corporation and instrumentality of the State of Georgia and
existing under the Laws of said State, as "Lessor," and
Richmond Bonded Warehouse Corporation, a Georgia corporation
with its principal office and place of business in Richmond
County, Georgia, as "Lessee," did heretofore, as of June 30,
1969, enter into a fifty (50) year lease beginning as of
June 30, 1969, and.
WHEREAS, It was the intention of the Parties that
said Lease Term should extend for a period sufficient to permit
the Lessee to borrow from the First Federal Savings and Loan
Association of Augusta, Georgia a certain sum for refinancing
improvements already made on the Leased Premises together with
the financing of proposed additions thereto, and
WHEREAS, The Lessee was unable to conclude the afore-
stated loan on or prior to June 30, 1969, and
WHEREAS, The Lessee's proposed financing requires
that as of the date of the loan closing the Lessee hold a Lease
Term of not less than fifty (50) years, and
WHEREAS, It was the intention of the Parties that
said refinancing of existing improvements and financing of
proposed additions to said improvements be undertaken by the
Lessee;
NOW THEREFORE, In consideration of the premises and
the covenants and agreements set forth in said instrument dated
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as of June 30, 1969, and subject to the additional considera-
tion herein set forth, it is agreed between the parties, to wit:
1. Paragraph 1 of said Lease Agreement is amended
to extend the lease term from "fifty (50) years from date" to
"fifty (50) years and two (2) months from date (to and including
August 31, 2019)."
2. Paragraph 1 of said Lease Agreement is further
amended by changing the term "at an annual 'base ground rental'
of Six Hundred and Fifty Dollars ($650.00) per acre," to read
"at an annual 'base ground rental' of Six Hundred and Fifty
Dollars ($650.00) per acre per year and each fractional portion
thereof, " .
3. Paragraph 3(a) of said agreement of June 30, 1969,
is amended by adding a new sentence to said paragraph, to wit:
"Lessor acknowledges that Lessee proposes :to borrow the sum of
$572,00.00 from the First Federal Savings and Loan Association
of Augusta, Georgia in the refinancing of -the improvements
already made on the Leased Premises and the financing of proposed
addi,tions to said improvements."
4. Paragraph 3(a) of s'aid agreement of June 30, 1969,
is further amended by adding an additional new sentence to said
paragraph, to wit:
"It is hereby agreed between the parties
that by virtue of this Lease Agreement the Lessor contracts
with the Lessee that the Lessee is not hereby empowered to give
the First Federal Savings and Loan Association of Augustai
Georgia any greater rights hereunder than the right to keep this
Lease Agreement in force upon any default by the Lessee on its
obligations and undertakings with the First Federal Savings and
Loan Association of Augusta, Georgia to which this Lease has
re ference . "
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IN WITNESS WHEREOF, The Lessor and Lessee have
caused these presents to be executed by their respective
proper officers, in duplicate, and their corporate seals
affixed as of the 15th day of August, 1969.
Signed, sealed and
delivered in the
presence of:
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GEORGIA PORTS AUTHORITY
By:
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Secretary-Treal:;~.:ter :1' .
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Attest:
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Attest: ;:::;7':'"
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Signed, sealed and
delivered in the
presence of:
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By:
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STATE OF GEORGIA (\' l.{)
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COUNTY OF FULTON
We, the undersigned officials of the State of
Georgia, do hereby approve that certain amendment to a
lease dated as of the 30th day of June, 1969, which
amendment is dated as of the 15th day of August, 1969,
by and between the GEORGIA PORTS AUTHORITY AND RICHMOND
BONDED WAREHOUSE CORPORATION, which lease ,and amendment
thereto concern certain real property owned by the Georgia
Ports Authority, Richmond County, Georgia.
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This the ':1.., ~:"day of August, 1969.
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/". ,~"'~'"..,:~<$"a "'<~1::i..,,~.e:~~t!
t".'tES~ER MADDOX,/ .1
~overnor .
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ARTHUR K. BOLTON
Attorney Gener'al
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"tRNEST B. DAVIS . .
state Auditor
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