HomeMy WebLinkAboutHome Loan to Olde Town Associates L.P.
Augusta Richmond GA
DOCUMENT NAME: I-I.Q (\1. B. Lor" r-J to 01 d to lOW IV f.\ 5 "'0 c I~ T6 S L. P.
DOCUMENT TYPE:
YEAR: \ Q9ct
BOX NUMBER: Lo
FILE NUMBER: \ 'bq13
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AUGUSTA-RICHMOND COUNTY COMMISSION
LARR Y E. SCONYERS
Mayor
ROOM 801 MUNICIPAL BLDG. (11)
AUGUSTA, GEORGIA 30911
Bus. (706) 821-2488
Fax No, (706) 722-5984
ULMER BRIDGES
JERRY BRIGHAM
HENRY H, BRIGHAM
FREDDIE L HANDY
WILLIAM B. KUHLKE, JR.
WM. "WILLIE" H. MAYS, III
J. B. POWELL
STEPHEN E. SHEPARD
MOSES TODD
LEE BEARD
Mayor Pro Tern
December 30, 1998
GIARLES R. OUVER, P E, CPA
Administrator
JAMES B. WALL
Auorney
Ms. Lena J. Bonner,
Clerk of Commission
Municipal Building (11)
Augusta, Georgia 30911
Reply to:
P.O. BOX 2125
Augusta, GA. 30903
Re: HOME Loan to Olde Town Associates, L.P.
Dear Lena:
I am enclosing closing documents for permanent keeping which were
executed for the City's HOME loan to Olde Town Associates, L.P" in connection with the
rehabilitation of the Olde Town properties. The following are enclosed:
(1) Original promissory note from Olde Town Associates, L.P" dated
December 29, 1998 in the principal amount of $1,137,000,00;
(2) Original deed to secure debt and security agreement dated
December 29, 1998, A second original deed to secure debt will be recorded in the
realty records of the Richmond County Superior Court, and I will furnish you the recorded
original when it is returned to me;
(3) Original assignment of leases, rents and security deposits dated
December 29, 1998;
(4) Original guaranty of completion dated December 29, 1998;
(5) Original land use restriction agreement dated December 29, 1998;
(6) Original Rehabilitation Loan Agreement dated December 29, 1998;
(7) Original borrower's affidavit and certificate dated December 29, 1998;
(8) Original certificate of corporate general partner dated December 29,
1998;
Ms. Lena J. Bonner
December 30, 1998
Page Two
(9) Original certificate of corporate general partner on behalf of
partnership dated December 28, 1998;
(10) Original architect's consent and agreement dated December 29,
1998;
(11) Original contractor's consent and agreement dated December 29,
1998; and
(12) Original opinion letter dated December 29, 1998 from The
Drummond Law Group, P.C.
There are two other documents that were executed in connection with this
transaction. The first is an intercreditor agreement between the State of Georgia
Department of Community Affairs, SunTrust Bank, Atlanta, and Augusta, Georgia. The
second is a memorandum of intercreditor agreement which will be recorded in the realty
records, When I receive these originals, I will forward them to you so that all of these
documents can be placed among the permanent records maintained by you for Augusta,
Georgia.
Should you have any questions, please contact me,
With kind regards, I am
HDR:hbs
Enclosures
CC: Mr. Keven Mack (w/enclosure)
Mr. Charles R. Oliver (w/o enclosure)
"
$1,137,000
PROMISSORY NOTE
(HOME Rehabilitation Loan)
December~?, 1998
1. Promise to Pav. For value received, Olde Town Associates, L,P., a Georgia limited
partnership (the "Borrower"), promises to pay to the order of the Augusta, Georgia, a
political subdivision ofthe State of Georgia ("Lender") the principal sum of$1,137,000, or
as much of that sum as may subsequently be disbursed, with interest on the outstanding
principal balance from the date of each advance of principal at the interest rates set forth
below. All payments shall be made in lawful money of the United States of America to
Lender at 530 Greene Street, Augusta, Georgia 30911, or at such other place as Holder
may specify.
2, Definitions, For purposes of this Note, the following terms and phrases shall have
the following meanings:
(a) "Applicable Federal Rate" shall mean the long-term applicable federal rate in
effect as of the date hereof or the long-term applicable federal rate in effect on each
Disbursement Date.
(b) "Default Rate" shall mean a simple interest rate of 10.0% per year.
(c) "Construction Interest Rate" shall mean a simple rate of interest of six
percent (6%) per annum; provided, however, that the yield to Holder shall not be less than
the highest long-term annually compounded Applicable Federal Rate which may apply at
the time of any Disbursement Date.
(d) "Construction Phase" shall mean the period commencing upon the date
hereof and terminating on the Completion Date,
(e) "Construction Phase Interest" shall mean all interest that accrues during the
Construction Phase and remains unpaid on the Completion Date.
(e) "Completion Date" shall mean the date on which all of the Property has
received the final certificates of the architect certifying the completion of the rehabilitation
of such properties, which shall occur on or before December 31, 1999.
(f) "Disbursement Date" shall mean each date on which any advance of the
principal of this Note is made during the Construction Phase.
(f) "Holder" shall mean Lender and each subsequent holder of this Note.
(g) "Loan" shall mean the loan and any other debt, liability, or obligation of
Borrower evidenced by this Note.
(h) "Loan Agreement" shall mean the Rehabilitation Loan Agreement, dated as
of even date herewith, between Borrower and Lender concerning the Loan.
(i) "Loan Documents" shall mean this Note, the Security Instruments, the Loan
Agreement, the Land Use Restriction Agreement between Borrower and Lender, and any
and all other documents, agreements, and instruments securing or relating to the Loan, as
they may be amended, modified, restated, supplemented, or replaced from time to time.
(j) "Maturity Date" shall mean the thirtieth anniversary of the first business
day of the first month following the Completion Date.
(k) "Permanent Interest Rate" shall have the meaning provided in paragraph
3(a).
(1) "Permanent Phase" shall mean a period of thirty (30) years commencing on
the Completion Date and ending on the Maturity Date.
(m) "Property" shall mean all those lots or parcels of land together with all
buildings and improvements thereon, situate, lying and being in the City of Augusta,
Richmond County, Georgia, which are more particularly described in the Security Deed.
(n) "Security Instruments" shall mean the Security Deed from Borrower to
Lender conveying the Property and any other agreement, guaranty, or instrument creating
a security interest or transferring collateral or an interest in collateral to Lender for
purposes of securing Borrower's payment of this Note and any other debt or obligation
owed Lender.
3. Interest and Payment Provisions,
(a) Interest Rate. The "Permanent Interest Rate" shall be equal to a simple rate
of interest which provides a yield to Holder which is not less than the highest long-term
annually compounded Applicable Federal Rate in effect on any Disbursement Date and is
intended to represent a fixed rate of interest per annum (calculated on the basis of a 360-
day year). In the event all or any portion of this Note is paid or collected on or before the
Maturity Date, then a penalty shall be imposed to the extent necessary that the Holder's
yield with respect to the loan evidenced by this Note, throughout the period following the
Completion Date, shall not be less than the Permanent Interest Rate, plus any remaining
unpaid portion of the Construction Phase Interest. In the event the Permanent Interest
Rate is determined by tax counsel to either Maker or Holder not to produce a yield to
Holder during all periods the loan evidenced by this Note is outstanding, equal to the
highest long-term annually compounded Applicable Federal Rate in effect on any
Disbursement Date, then the Permanent Interest Rate shall be adjusted as necessary to
maintain such yield.
(b) Payments: The principal balance of the indebtedness hereunder together
with interest thereon shall be paid to Holder as follows:
/ car /whiteoak/ oldetown/promissory note. doc
(i) During the Construction Phase, interest shall accrue on the outstanding
balance hereunder without compounding. No payments of accrued interest or
principal shall be due during the Construction Phase. Beginning on the first day of
the first complete month following the Completion Date, monthly payments equal to
1I360th of the Construction Phase Interest shall be due and payable such that the
Construction Phase Interest shall be paid in full by the Maturity Date
("Construction Payment").
(ii) During the Permanent Phase, interest shall accrue on the outstanding
principal balance hereunder, commencing as of the Completion Date, at the
Permanent Interest Rate without compounding. Beginning on the first day of the
first complete month following the Completion Date and ending on the Maturity
Date, equal monthly payments of principal and accrued interest ("Amortized
Payment") shall be due and payable such that the full amount of the indebtedness
hereunder shall be paid in full by the Maturity Date.
The Amortized Payment and Construction Payment shall be collectively referred to herein
as the "Monthly Payment". All unpaid principal and accrued but unpaid interest shall be
due and payable on the Maturity Date.
(c) Application of Payments. Holder shall apply each payment received from
Borrower first to the payment of unpaid late charges, next to accrued and unpaid interest,
and then the remainder (if any) to the principal balance.
(c) Late Char!:!es. If any Monthly Payment is not made within 15 calendar days
of when due, Borrower shall pay Holder a late charge of 5.0% of the past-due amount to
help defray the added expense incurred by Holder in handling the delinquent payment.
4. Default. If any payment is not made when due and remains unpaid for 15 calendar
days after the due date or if a default or an Eyent of Default occurs under any of the other
Loan Documents (which default or Event of Default is not cured within any applicable cure
period), the principal amount and any other sums advanced under the Loan Documents
and all unpaid accrued interest, shall, at the option of Holder and without notice to
Borrower, at once become due and payaqle. Interest shall accrue on the outstanding
principal amount from the date of any default for so long as such default continues at the
Default Rate (regardless of acceleration or Lender's exercise of any other right or remedy).
If Lender permits Borrower to cure a default, Borrower shall pay all default interest at the
time of and as a condition precedent to the curing of the default.
5. Prepayment. Subject to the provisions herein proyiding for the applicable interest
rates during the Construction Phase and Permanent Phase, this Note may be prepaid in
full or in part at any time and from time to time without notice, penalty, prepayment fee,
or payment of unearned interest.
6. Securitv. Among other things, this Note is secured by the Security Instruments.
7. Attorney's Fees. In addition to any other amounts that may be due under this Note,
Borrower shall pay Holder all costs incurred in collecting this Note, including its
/car/whiteoak/oldetown/promissory note. doc
reasonable attorney's fees, whether or not suit is brought and whether incurred in
connection with collection, trial, appeal, or otherwise, Any reference to attorney's fees in
this Note shall mean reasonable attorney's fees, actually incurred without regard to any
statutory definition or presumption as to what "reasonable" attorney's fees means.
8. Taxes. Borrower shall indemnify Holder against liability for the payment of state
intangible, documentary, and recording taxes and other taxes (including interest and
penalties), which may be payable in connection with this transaction.
9. Interest and Usury. In no event shall the amount of interest due or payable under
this Note exceed the maximum rate allowed by law, and if Borrower pays an amount that
includes interest exceeding the maximum allowable rate, the excess shall be credited as a
payment of late charges and then principal, unless Borrower notifies Holder in writing that
Borrower wants the excess returned, It is the express intent of Borrower and Holder that
Borrower not pay and Holder not receive, directly or indirectly, interest in excess of that
which may be lawfully paid by Borrower. All interest shall be, calculated on the basis of
360 days per year for the actual number of days elapsed.
10. Remedies Cumulative. Holder's remedies in this Note and the other Loan
Documents shall be cumulative and concurrent and may be pursued singly, successively, or
together at Holder's sole discretion and may be exercised as often as occasion shall arise.
11. Waiver of Certain Rights. To the maximum extent permitted by applicable law,
Borrower hereby waives and renounces all rights to the benefits of any statute of limitation
and any moratorium, reinstatement, marshalling, forbearance, valuation, stay, extension,
redemption, appraisement, exemption, and homestead now provided or which may
subsequently be provided by the Constitution or laws of the United States of America or
any state, both as to itself and in and to all of its property, real and personal, against the
enforcement and collection of the obligations evidenced by this Note, To the extent
Borrower has the power to do so, Borrower transfers, conveys, and assigns to Holder a
sufficient amount of such homestead or exemption as may be set apart in bankruptcy to
pay this Note in full with all costs of collection and directs any trustee in bankruptcy
having possession of such homestead or exemption to deliver to Holder a sufficient amount
of property or money set apart as exempt to pay the debt evidenced by this Note and, to the
extent possible, appoints Holder as attorney-in-fact for Borrower to claim any and all
exemptions allowed by law.
Borrower and all sureties, endorsers, and guarantors of this Note, if any, hereby: (a)
waive demand, presentment of payment, notice of dishonor and nonpayment, protest,
notice of protest, and all other notices, filing of suit, and diligence in collecting this Note, or
in enforcing any of its rights under any guaranties securing its repayment; (b) agree to any
substitution, addition, subordination, or release of all or part of any collateral for this Note
(including the Property) or of any party or person primarily or secondarily liable on this
Note; (c) agree that Holder shall not be required first to sue o! exhaust its remedies against
Borrower or any other liable person or party or against any collateral (including the
Property) in order to enforce payment of this Note; (d) consent to any extension,
rearrangement, renewal, alteration, or postponement of time of payment of this Note or the
modification of any other term of this Note and any other indulgence with respect to the
lear Iwhiteoak/oldetown/promissory note ,doe
Note without notice, consent, or consideration to any of them; (e) agree that Holder may
exercise or refrain from exercising any right or remedy that it may have; and (f) agree that,
notwithstanding the occurrence of any of the foregoing (unless there is an express written
release by Holder of any such person), they shall be and remain jointly and severally,
directly and primarily, liable for all sums due under this Note,
12. Applicable Law. This Note shall be construed and enforced in accordance with the
laws of the State of Georgia.
13. Miscellaneous. TIME IS OF THE ESSENCE OF THIS NOTE. As used in this
Note, the words "Borrower" and "Holder" shall include the respective successors and
assigns of Borrower and Holder. Holder is not and shall not be construed to be a p;:trtner,
joint venturer, co-principal, or associate, of Borrower or of any person or party claiming by,
through, or under Borrower in the conduct of its business, No waiver or release by Holder
shall be effective unless in writing. A waiver or release with reference to one event shall
not be construed as continuing or as a bar to or waiver or release of any subsequent right,
remedy, or recourse as to any subsequent event. A failure to accelerate the debt evidenced
by this Note, acceptance of a past-due installment, or indulgences granted from time to
time shall not be construed as a novation of this Note or as a reinstatement of the Loan or
as a waiver of Holder's right of acceleration or the right of Holder subsequently to insist
upon strict compliance with the terms of this Note or to prevent the exercise of its right of
acceleration or any other right or remedy under this Note or Georgia law, To the
maximum extent possible, Borrower waives the benefit of any present or future statute or
rule oflaw or equity, which would produce a result contrary to or in conflict with the
foregoing. No extension of time for the payment of this Note or any installment due under
it granted any person liable for the payment of this Note shall operate to release,
discharge, modify, change, or affect the original liability of Borrower under this Note,
whether in whole or in part, unless Holder specifically and expressly agrees otherwise in
writing. This Note may not be changed orally, but only by an agreement in writing signed
by the party against whom enforcement of any waiver, change, modification, or discharge is
sought.
14. Limited Liabilitv . Notwithstanding any other provision of this Note or the other
Loan Documents, but subject to the other provisions of this section, neither Borrower nor
any of its partners shall be personally liable for any of the Secured Debt, and Lender
agrees to satisfy any unsatisfied debt or judgment against Borrower for any default under
the Loan Documents from the Property and any other collateral for the Loan. No other
property or assets of Borrower or any general or limited partner of Borrower shall be
subject to levy, execution, or other enforcement procedures for the satisfaction of such a
debt or judgment.
Nothing in this Section shall: (1) release, impair, or otherwise affect the validity or
enforceability of any of the Loan Documents or the perfection or priority of this Note and
Lender's interest and title in the Property or any other collateral for the Loan; (2)
constitute a waiver of any obligation evidenced or secured by any Loan Document or in any
way be construed to release or impair the title or security interests created by any other
Loan Document; (3) limit the rights or remedies of Lender under any of the Loan
Documents, including the right to foreclose, either judicially or nonjudicially, Borrower's
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interest in the Property or to confirm any foreclosure or sale pursuant to the power of sale
in the Security Instruments or to bring actions against Borrower and enter a judgment
against Borrower, so long as the exercise of any remedy does not extend to execution
against any property of Borrower or any general or limited partner of Borrower other than
the Property and any other collateral for the Loan; or (4) affect Lender's right to bring any
action against any guarantor under any guaranty, enter a judgment, and satisfy any
judgment obtained against any assets of any guarantor.
The limitation of liability set forth in this section shall be void and of no effect if
Borrower delays or attempts to delay any foreclosure or exercise of the power of sale under
any of the Security Instruments or any other remedy with respect to the collateral for the
Loan, including a claim by Borrower that any of the Security Instruments or other Loan
Documents is invalid to the extent that Lender would be precluded from exercising its
remedies against the Property or other collateral for the Loan. Without limiting the
generality of the preceding sentence, the limitation of liability in this section shall be void
and of no effect if Borrower files a petition or begins any case or proceeding under any
provision or chapter of the Federal Bankruptcy Code; if Borrower opposes Lender's motion
to lift the automatic stay in any such proceeding; or if Borrower files a proposed plan of
reorganization that, subject to the rights of the Senior Lender, provides that Lender would
receive less than all of the Property and the other collateral for the Loan or receive a lien
on less than all of the Property and the other collateral for the Loan.
The limitation of liability in this section shall not preclude Lender from: (a) naming
Borrower as a defendant in any action; (b) asserting that any unpaid amount under the
Loan Documents is a defense, counterclaim, or setoff against any claim by Borrower
against Lender; or (c) enforcing any indemnity obligations, including environmental
indemnities, if any. .
Notwithstanding any of the foregoing, Lender shall be entitled to injunctive relief in
connection with the following, and Borrower shall remain and be fully liable to Lender for
damages (including consequential and punitive damages) suffered by Lender as a result of
any of the following:
(a) Borrower's misapplication of: (1) any rents and profits from the Property
received by Borrower that were in existence at or accrued after the time of a default under
any of the Loan Documents; (2) any insurance proceeds received before the exercise of
Lender's remedies, which proceeds are due to damage, loss, or destruction to the Property
(to the full extent of such proceeds); and (3) any proceeds or awards resulting from the
condemnation of all or any part of the Property (to the full extent of such proceeds or
awards), if received before the exercise of Lender's remedies;
(b) fraud or misrepresentation or willful damage or waste to the Property by or
on behalf of Borrower;
lear Iwhiteoak/oldetown/promissory note .doe
As used in this Note, the term "misapplication" means Borrower's failure to apply
funds to the reasonable and proper costs of ownership, operation, maintenance, repair, and
(when applicable) restoration of the Property, and the payment of principal, interest and
other amounts to be paid or due under any of the Loan Documents or any other loan
secured by the Property.
IN WITNESS WHEREOF, Borrower has executed this Note under seal on the day
and year first above written.
OLDE TOWN ASSOCIATES, L.P.
By:
By:
Name:
Title:
[CORPORATE SEAL]
. ,
:--.. '-
--- ..
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t
After recording,
return to:
Harry Revell, Esq~
Burnside, Wall, Ellison & Daniel
454 Greene Street
Augusta, Georgia 30901
THIS SECURITY DEED SECURES AN OBLIGATION INCURRED FOR THE
CONSTRUCTION OF AL'\J IMPROVEMENT ON LAND
PURSUANT TO O.C.G.A. SECTION 50-26-9, LENDER IS EXEMPT FROM ANY
TAXES OR ASSESSMENTS UPON PROPERTY, INCLUDING REAL ESTATE
TRANSFER AND INTANGIBLES TAXES
DEED TO SECURE DEBT
AND SECURITY AGREEMENT
STATE OF GEORGIA
COUNTY OF RICHMOND
This Deed To Secure Debt and Security Agreement ("Deed") is made December dil,
1998, by and between Olde Town Associates, L.P" a Georgia limited partnership,
("Grantor"), and Augusta, Georgia, a political subdivision of the State of Georgia
("Lender"), whose mailing address is 530 Greene Street, Augusta, Georgia 30911.
\VITNESSETH:
vVHEREAS, Lender has made a rehabilitation loan to Grantor (the "Loan"); and
'WHEREAS, Grantor has executed a promissory note, payable to the order of
Lender (the "Note") for $1,137,000, evidencing the Loan (which Note is made a part of this
Deed by reference); a Rehabilitation Loan Agreement (as amended, renewed, replaced, or
extended, the "Loan Agreement"), containing the terms and conditions of the Loan (the
Loan Agreement is made a part of this Deed by reference); a Land Use Restriction
Agreement (as amended, renewed, replaced, or extended, the "Restrictive Covenants"),
prescribing certain rent and occupancy requirements for the Property (the Restrictive
Covenants are made a part of this Deed by reference) (the Restrictive Covenants, the Note,
the Loan Agreement, this Deed and any other document or instrument executed by
Grantor in any way pertaining to the Loan and debt evidenced by the Note are collectively
referred to as the "Loan Documents"); and
'WHEREAS, Grantor desires to secure the prompt payment and performance of the
obligations under the Loan Documents,
NOW, THEREFORE, for and in consideration of the premises and the sum set
forth above, Grantor has granted, bargained, sold, and conveyed, and by these presents
does grant, bargain, sell and convey unto Lender, all of its estate, right, title, and interest
in the following described real property, whether existing now or at any time in the future
(all of Grantor's estate, right, title, and interest in, to, and under the following described
property being referred to as the "Property"):
(a) All those tracts or parcels of land lying and being in Richmond, County,
Georgia, and being more particularly described in the attached Exhibit A together with all
of the easements, rights-of-way, water rights, rights, privileges, franchises, tenements,
hereditaments, and appurtenances belonging or in any way appertaining to them and all of
the estate, right, title, interest, claim, and demand whatsoever of Grantor in or to them,
either at law or in equity, in possession or in expectancy (collectively, the "Real Estate");
(b) All buildings, structures, and other improvements located on the Real Estate
(the "Improvements");
(c) All machinery, appliances, apparatus, equipment, fittings and fixtures
(whether actually or constructively attached and including all trade, domestic, and
ornamental fixtures) at any time located in, upon, or under the Real Estate or the
Improvements or used in connection with any present or future operation of the Property,
and all additions to and replacements for them, including all heating, air-conditioning,
freezing, lighting, laundry, cooking, incinerating, and power equipment; engines; pipes;
pumps; tanks; motors; conduits; switchboards; plumbing, lifting, cleaning, fire prevention,
fire extinguishing, refrigerating, ventilating, and communications apparatus; boilers,
ranges, furnaces, oil burners, or units thereof; air-cooling apparatus; vacuum cleaning
systems; elevators; escalators; shades; awnings; screens; storm doors and windows; stoves;
wall beds; refrigerators; dishwashers; attached cabinets; partitions; ducts and compressors;
rugs and carpets; mirrors; mantles; draperies; furniture and furnishings;
(d) All land lying in the bed of any street, road, avenue, alley or public place,
opened or proposed, and all easements and rights-of-way, public or private, tenements,
hereditaments, rights, and appurtenances, used in connection with or belonging or
appertaining to the Real Estate;
(e) .:.\11 water, ditches, \vells, reservoirs. and drains and all water, ditch, well,
reservoir, and drainage rights appurtenant to, located on, under, or above or used in
connection with the Real Estate or any part of it;
(f) .All minerals, flowers. shrubs. crops. trees, timber, and other emblements on,
under, or above the Real Estate,
TO HAVE AND TO HOLD the Property to the use, benefit, and behoof of Lender
forever in FEE SIMPLE, and Grantor will forever warrant and defend the title to the
Property unto Lender against the claims of all persons whomsoever.
As it relates to the Property, this instrument is a security deed passing legal title
pursuant to the laws of the State of Georgia governing loan or security deeds and is not a
mortgage.
This Deed is made and intended to secure the timely payment and performance of
the following obligations of Grantor (collectively, the "Secured Debt"): (a) the Loan and the
Note; (b) all other debts and obligations of Lender to Grantor under this Deed or the other
Loan Documents, including interest; (c) all amounts advanced by Lender to Grantor or on
Grantor's behalf in the future; Cd) every obligation, covenant, condition, and agreement of
Grantor in any of the Loan Documents; (e) all other debts of every kind and character,
owing now or in the future by Grantor to Lender, whether direct or indirect, absolute,
contingent, or otherwise.
If Grantor pays Lender the Secured Debt, Lender shall cancel this Deed.
Otherwise, it will remain in full force and effect. No release of this conveyance, or of the
lien, security interest, or assignment created and evidenced by this Deed will be valid
unless executed by Lender.
Article 1. Covenants of Grantor.
1.01 'Warranties. Grantor hereby represents, warrants, and covenants to and with
Lender that:
(a) Grantor has good and marketable fee simple title to the Property, subject
only to those matters expressly permitted in Exhibit B and has legal title to the Collateral
(as defined below). Grantor will preserve and defend its interest in and title to the
Property and Collateral and will forever warrant and defend the validity and priority of the
lien and security interest of this Deed against the claims of all persons. Grantor shall
promptly and completely observe, perform. and discharge each and every obligation,
covenant, condition. restriction, and agreement affecting the Property and Collateral,
whether it is prior and superior or subject and subordinate to this Deed, This warranty of
title shall survive the foreclosure of Grantor's interest in the Property and shall inure to
the benefit of and be enforceable by any person who may acquire title to the Property by
foreclosure or sale under power.
(b) The lien and title of this Deed constitutes a good and validly second priority
lien on and title to the Property, and the security interest in the Collateral created by this
Deed constitutes a good and valid second priority security interest in the Collateral
subordinate only to the title and interests of the Georgia Department of Community Affairs
(the "Senior Lender").
1.02. Taxes and Insurance. So long as this Deed is in effect, Grantor shall maintain in
force on the Property and Collateral the insurance required of Grantor by the Loan
Agreement. If there is a foreclosure sale or a sale under power, the purchaser shall
succeed to all rights of Grantor in any such policy of insurance, including any right to
unearned premiums.
Grantor shall pay when due and payable: (a) all taxes, assessments, general or
special and other charges levied on, or assessed, placed, or made against the Property or
Collateral, this Deed, the Secured Debt, or any interest of Lender in the Property or
Collateral, provided, however, Grantor shall have the right to contest any such tax,
assessment, or charge, so long as the objection is made in good faith, diligently prosecuted
to completion, and does not prejudice Lender; (b) premiums on policies of all insurance
required pursuant to this Section and the Loan Agreement; and (c) premiums on all
collaterally pledged life insurance policies (if any). Upon request, Grantor shall promptly
deliver to Lender receipts showing payment in full of the above items. If Grantor fails to
pay any of the above taxes or charges, Lender shall have the right (but not the obligation)
to pay the tax or charge. If Lender does so, Grantor shall immediately reimburse Lender
on demand for the amount paid plus interest at the Default Rate (as defined in the Note)
from the date of payment to the date of reimbursement.
1.03. Rents and Profits, By separate instrument, Grantor has assigned to Lender all
existing and future rents and profits from the Property (the "Rents and Profits") as
additional security for payment of the Note and the other Secured Debt,
1.04. Security Ag-reement. Grantor grants Lender a security interest in any fixtures
described above and the personal property described in the attached Exhibit C
(collectively referred to as the "Collateral"), Upon request, Grantor shall execute and
deliver to Lender all financing statements, continuation statements, or other instruments
requested by Lender in order to perfect or maintain the perfection of Lender's security
interest in Collateral. Grantor hereby irrevocably appoints Lender as its attorney-in-fact
to execute, deliver, and file with the appropriate office such statements and instruments if
Grantor fails to comply with Lender's request within a reasonable time, To the maximum
extent permitted by law, all of the Collateral is to be deemed a part of and affixed to the
Real Estate, whether or not physically affixed to the Real Estate, Grantor shall promptly
replace all worn out or obsolete Collateral with property comparable to the worn out or
obsolete Collateral when new. Grantor shall keep all Collateral at the Property and,
without Lender's prior written consent, shall not remove any of the Collateral from the
Property, unless Grantor immediately replaces it with an article of greater or equal
suitability and valued owned by Grantor. Any replacement Collateral shall be subject to
lender's security interest and shall be free and clear of any prior lien or security interest
except Senior Lender's,
In addition to all other rights and remedies. Lender may have under this Deed or
the other Loan Documents, if an Event of Default occurs. Lender shall have all of the rights
and remedies of a secured party under the Georgia Uniform Commercial Code, In such
case, subject to the rights of Senior Lender. Lender shall have the right to sell the
Collateral at one or more public or private sales, including a sale held in conjunction with
the sale of the Property. An employee or agent of Lender may conduct any such sale. Any
person. including Lender, shall be eligible to purchase all or part of the Collateral at any
such sale. Grantor shall bear all expenses of retaking, holding, preparing for sale, or
selling the Collateral, including Lender's attorney's fees and legal expenses actually
incurred, Lender shall have the right to enter upon the Real Estate and the Improvements
or any real property where any Collateral is located to take possession of, assemble, and
collect such Collateral or to render the same unusable, or Grantor, upon demand of Lender,
shall assemble such Collateral and make the same available to Lender at the Real Estate,
a place which is deemed to be reasonably convenient to Lender and Grantor. If notice is
required by law, Lender shall give Grantor at least 5 days prior written notice of the time
and place of any public sale of Collateral or the time of or after which any private sale or
any other intended disposition is to be made, and, if such notice is sent to Grantor as
provided in Section 4,01 of this Deed, it is hereby deemed that such notice is reasonable
notice to Grantor, No such notice is necessary for any Collateral that is perishable,
threatens to decline speedily in value, or is of a type customarily sold on a recognized
market. Any sale made pursuant to the provisions of this Section shall be deemed to have
been a public sale conducted in a commercially reasonable manner if held
contemporaneously with the sale under the power of sale granted in Section 3,1 upon
giving the same notice with respect to the sale of the Collateral as is required under that
Section, Furthermore, in conjunction with, in addition to, or in substitution for the rights
and remedies available to Lender pursuant to the Georgia Uniform Commercial Code:
(a) in the event of a foreclosure sale, whether made by Lender under this Deed
or under judgment of a court, the Property and Collateral may, at the option of Lender, be
sold as a whole; and
(b) it shall not be necessary that Lender take possession of the Collateral before
the time that any sale pursuant to the provisions of this Section is conducted and it shall
not be necessary that the Collateral be present at the location of such sale; and
(c) all statements of fact or other recitals made in any bill of sale or assignment
or other instrument evidencing any foreclosure sale shall be taken as prima facie evidence
of the truth of the facts so stated and recited; and
(el) Lender may appoint anyone or more persons as agent to perform any act or
acts relating to any sale held by Lender, including the sending of notices and the conduct of
the sale, but in the name and on behalf of Lender; and
(e) Lender shall have all other rights and remedies, whether at law, in equity, or
by statute, as are available to secured creditors under applicable law.
1.05. Easements and Rights-of-\Vav. Grantor shall not grant or create any easement or
right-of-way over, under, or through the Real Estate without Lender's prior written
consent, At its discretion the purchaser at any foreclosure sale or sale under power
granted in this Deed may void any easement or right-of-way granted in violation of this
Deed or the Loan Agreement and may take immediate possession of the Property free from,
and despite the terms of, such gram of easement or right-of-way.
1.06. Maintenance of the Property. Grantor shall at all times maintain the Property in
good condition and repair. Grantor shall not cause or permit any waste of the Property,
1.07, Compliance with Laws. Grantor shall comply with all federal, state, and local laws
relating to the ownership, use, or operation of the Property,
1.08. Future Advances, The lien of any future advances by Lender to Grantor shall relate
back to the date of this Deed.
1.09. Special Waivers. GRANTOR EXPRESSLY: (a) ACKNOWLEDGES LENDER'S
RIGHT TO ACCELERATE THE DEBT AND THE POWER OF ATTORNEY GIVEN IN
THIS DEED TO LENDER TO SELL THE PROPERTY BY NONJUDICIAL
FORECLOSURE UPON DEFAULT BY GRANTOR WITHOUT ANY JUDICIAL HEARING
AND WITHOUT ANY NOTICE OTHER THAN THE NOTICE (IF ANY) SPECIFICALLY
REQUIRED UNDER THE PROVISIONS OF THIS DEED; (b) WAIVES ANY AND ALL
RIGHTS WHICH GRANTOR MAY HAVE UNDER THE FIFTH AND FOURTEENTH
AMENDMENTS TO THE CONSTITUTION OF THE UNITED STATES OF AMERICA,
THE VARIOUS PROVISIONS OF THE CONSTITUTION FOR THE SEVERAL STATES,
OR BY REASON OF ANY OTHER APPLICABLE LAW, TO NOTICE AND TO JUDICIAL
HEARING BEFORE THE EXERCISE BY LENDER OF ANY RIGHT OR REMEDY
PROVIDED TO LENDER, EXCEPT SUCH NOTICE AS IS SPECIFICALLY REQUIRED
TO BE PROVIDED BY THIS DEED; (c) ACKNOWLEDGES THAT GRANTOR HAS READ
THIS DEED AND ASKED ANY AND ALL QUESTIONS REGARDING THE LEGAL
EFFECT OF THIS DEED AND ITS PROVISIONS, AND THOSE QUESTIONS HAVE
BEEN FULLY ANSWERED, AND GRANTOR HAS BEEN AFFORDED AN
OPPORTUNITY TO CONSULT \VITH COUNSEL OF GRANTOR'S CHOICE BEFORE
EXECUTING THIS DEED; (d) ACKNOWLEDGES THAT ALL WAIVERS OF SUCH
RIGHTS OF GRANTOR HAVE BEEN MADE KNOWINGLY, INTENTIONALLY, AND
WILLINGLY BY GRANTOR; AND (e) AGREES THAT GRANTOR'S RIGHT TO NOTICE
SHALL BE LIMITED TO THOSE RIGHTS TO NOTICE PROVIDED BY THIS DEED OR
THE OTHER LOAN DOCUMENTS OR AS REQUIRED UNDER LAW (IF ANY) AND NO
OTHER.
Article 2. Events of Default.
2.01. Events of Default, Each of the following events constitutes an Event of Default
under this Deed:
(a) a default or Event of Default (as defined in the other Loan Documents)
occurs under any of the other Loan Documents, and it is not cured within any applicable
cure or grace period: or
(b) Grantor's failure to comply with and perform every other provision or satisfY
any other condition of this Deed, unless the failure is cured within 30 days after Lender
gives Grantor written notice of the failure or, if the nature of the default is such that, as a
practical matter, it cannot be cured within 30 days, the cure period shall be 90 days, so
long as Grantor begins the cure within the :30-day period following receipt of notice from
Lender and diligently and continuously pursues it to completion within the 90-day period;
or
(c) any warranty or representation by Grantor m this Deed is untrue or
incorrect when made,
Article 3. Remedies.
3.01. Remedies. If an Event of Default occurs, in addition to any other rights or remedies
Lender may have, Lender may exercise one or more of the following remedies:
(a) Lender may enter upon and take possession of the Property (without the
appointment of a receiver or application for one) and do all acts that may be desirable in
Lender's judgment to preserve the value, marketability, or rentability of the Property or to
increase the income from it. If Lender takes possession, it may employ an agent or agents
to manage, operate, and lease the Property, either in its own name or in the name of
Grantor, and may collect the Rents and Profits and apply them against the Secured Debt
(after payment of all costs and expenses of operation and collection, including attorney's
fees actually incurred),
(b) Lender may specifically enforce the prOV1SlOns of this Deed or any
instrument evidencing any part of the Secured Debt.
(c) In its sole and absolute discretion, Lender may pay any amount deemed
appropriate by Lender to protect its interest in the Property and Collateral or cure any
Event of Default, It may make any such payment based on any bill, statement, or estimate
furnished from the appropriate public officer or the party claiming payment is due without
inquiry into the accuracy or validity of it. The written receipt of payment by any such
public officer or party shall be conclusive evidence of the validity and amount of the item
paid, and the amount of any such payment, with interest from the date of payment at the
Default Rate (as defined in the Note), shall become a part of the Secured Debt and be
immediately due and payable by Grantor to Lender upon demand.
(d) Without further notice to or demand upon Grantor, Lender may accelerate
the maturity and payment of the entire Secured Debt, all of which will then become
immediately due and payable.
(e) Lender may sell the Property at public auction at the usual place for
conducting sales at the courthouse in the county where the Property or any part of it is
located, to the highest bidder for cash. first advertising the time, terms, and place of such
sale by publishing a notice of the sale once a week for four consecutive weeks (without
regard to the actual number of days) in a newspaper in which sheriffs advertisements are
published in the county, and Grantor waives all other notice. Lender may execute and
deliver to the purchaser at the sale a sufficient conveyance of the Property in fee simple,
which conveyance may contain recitals about the default upon which the execution of the
power of sale depends, and the recitals shall be presumptive evidence that all preliminary
acts prerequisite to the sale and deed were duly complied with, Lender and its agents and
representatives may bid and purchase at such sale.
Grantor hereby constitutes and appoints Lender as its agent and attorney-in-fact to
make such recitals, sale, and conveyance, and Grantor hereby ratifies and confirms all of
the acts of such attorney-in-fact. Further, Grantor agrees that such recitals shall be
binding and conclusive upon Grantor and agrees that the conveyance by Lender under this
power of sale (and in the event of a deed in lieu of foreclosure, then as to such conveyance)
shall be effectual to bar all right, title, and interest, equity of redemption (including all
statutory redemption, homestead, dower, courtesy), and all other exemptions of Grantor in
and to the Property.
In case of such a sale, Grantor or any person in possession of all or any part of the
Property under Grantor shall become tenants holding over and shall immediately deliver
possession to the purchaser at such sale or be summarily dispossessed in accordance with
the provisions of law applicable to tenants holding over.
The power and agency hereby granted to Lender are coupled with an interest and
are irrevocable by death or otherwise and are in addition to any other remedies which
Lender may have under this Deed or the other Loan Documents, at law, or in equity,
At its option, Lender is authorized to foreclose Grantor's interest in the Property,
subject to any superior rights of any tenants of the Property or Senior Lender. The failure
to make any such tenant a defendant in any such foreclosure action and to foreclose their
interests and rights will not be a defense to any action Lender institutes to collect the
Secured Debt or to collect any deficiency.
One or more exercises of the powers granted in this Section shall not extinguish or
exhaust the power unless the entire Property is sold or the Secured Debt is paid in full.
3.02, Receiver, In any action to foreclose this Deed or if an Event of Default occurs,
subject to the rights of the Senior Lender, Lender may apply for the appointment of a
receiver for the Rents and Profits or the Property or both. If Lender does so, Grantor
agrees that Lender is entitled to the appointment of such a receiver as a matter of right,
without regard to the value of the Property as security for the amounts due Lender or the
solvency of any person or corporation liable for payment of such amounts, Grantor hereby
consents to the appointment of such receiver or receivers, waives any and all notices of and
defenses to such appointment, and agrees not to oppose any such application by Lender,
Nothing in this Section, however. is to be construed to deprive Lender of any other right,
remedy, or privilege it may have to have a receiver appointed, The appointment of such
receiver, trustee, or other appointee by virtue of any court order, statute, or regulation
shall not impair or in any manner prejudice Lender's rights to receive payment of the
Rents and Profits pursuant to other terms and provisions of this Deed or any of the other
Loan Documents. Any money advanced by Lender in connection with any such
receivership shall be a demand obligation owing by Grantor to Lender, shall be added to
the outstanding principal balance of the Note (even if such addition results in the
outstanding principal balance being in excess of the face amount of the Note), shall bear
interest from the date of making such advance by Lender until paid at the Default Rate (as
defined in the Note) and shall be secured by this Deed and by every' other instrument
securing the Secured Debt, The receiver or his agents shall be entitled to enter upon and
take possession of any and all of the Property and Collateral to the same extent and in the
same manner as Grantor might lawfully do.
The receiver, personally or through its agents or attorneys, may exclude Grantor and its
agents, servants, and employees from the Property and may have, hold, use, operate,
manage, and control the Property and, in the name of Grantor or Grantor's agents, may
exercise all of their rights and powers and use all of the then existing materials, current
supplies, stores, and assets and, at the expense of Grantor, maintain, restore, insure, and
keep insured the properties, equipment, and apparatus provided or required for use in
connection with the business or businesses operated on the Real Estate and may make all
such necessary and proper repairs, renewals, and replacements and all such useful
alterations, additions, betterments, and improvements as the receiver may deem judicious.
At the option of Lender, such receivership shall continue until full payment of all Secured
Debt or until title to the Property shall have passed by foreclosure or sale under this Deed.
3.03. Application of Sale Proceeds, The proceeds of any sale or foreclosure under this
Deed shall be applied in the following manner: First, to payment of all costs of the sale,
including legal fees and disbursements, title charges, advertising, commissions, and
transfer taxes and payment of any advances by Lender for expenses and liabilities for
which Grantor is responsible under this Deed or any of the other,Loan Documents; Second,
to payment of any other previously unreimbursed amounts expended by Lender under this
Deed, together with interest at the Default Rate in the Note; and, Third, to payment of the
Secured Debt and all other obligations of Grantor secured by this Deed, including interest
at the Default Rate in the Note. Lender shall have the right to apply the proceeds of the
sale to the Secured Debt in whatever order it chooses in its sole and absolute discretion.
After application of the sale proceeds as provided above, if there is any surplus, Lender
shall pay that surplus to Grantor.
3.04, Subdivision. At any sale under the power granted in this Deed or a sale pursuant to
any judicial order or otherwise, the Property or any part of it may be sold in one parcel and
as an entirety or in such parcels, manner. or order as Lender in its sole discretion may
elect.
3.0.5, Sale or Transfer of Propertv. If Grantor transfers any interest in the Property or
sells. ground leases, refinances, encumbers, or otherwise transfers the Property
(collectively, a "Transfer") in whole or in part without Lender's prior written consent, the
Transfer shall constitute an Event of Default. [n its sole discretion, however, if the
following criteria are satisfied, Lender may consent to the Transfer: (a) the credit of the
purchaser or transferee is satisfactory to Lender in its sole discretion; (b) the purchaser or
transferee agrees to pay interest on the Secured Debt at whatever rate Lender requires; (c)
the purchaser or transferee executes an assumption agreement containing terms and
conditions acceptable to Lender in its sole discretion; and (d) the purchaser or transferee
pays a transfer fee required by Lender in an amount sufficient to reimburse Lender for the
time and expense spent in reviewing and underwriting the proposed Transfer. Lender's
consent to one Transfer in no way obligates it to consent to any other Transfer, and the
foregoing requirements shall apply to every Transfer, regardless of Lender's consent to any
previous Transfer,
3.06. Exercise of Remedies No Bar to Subsequent Exercise. Lender may file suit to
recover any amount owed under this Deed, as it comes due, even though not all of the
Secured Debt is due and has not been accelerated, and Lender may subsequently use any
other remedy available to it for an Event of Default existing at the time the action was
begun, including an action of foreclosure,
3.07. Remedies Cumulative. The rights and remedies of Lender under this Deed are
separate, distinct, and cumulative of other powers and rights that Lender has in law or
equity or under the other Loan Documents. No right or remedy of Lender is exclusive; all
of them are cumulative to the remedies for collection of debt, enforcement of rights under
security deeds, and preservation of security as provided at law, in equity, or under the
other Loan Documents. No act of Lender shall be construed as an election of an exclusive
remedy, unless Lender indicates so in writing.
Article 4. Miscellaneous.
4.01. Notices, (a) All notices and other communications required or permitted under this
Deed shall be in writing and addressed to the other party at the address set forth in this
section, All such notices shall be deemed to have been given and received as follows: 3
Business Days from the date of deposit in the U.S. mail, certified mail, return receipt
requested, postage-prepaid; when hand delivered by the party or a courier service; or when
sent by fax. When notices under this Deed are sent by fax, a courtesy copy of such notice or
other communication shall be sent by U.S. mail within one business day after the original
notice is sent, but the original notice shall control with respect to when the notice is
deemed given and received, and the failure to send such courtesy copy shall not affect the
validity of the original notice. The following addresses and the fax numbers shall be used:
If to Grantor:
aIde Town Associates, L.P,
c/o White Oak aIde Town, Inc.
322 Banyan Boulevard
West Palm Beach, Florida 33401
Attention: Paula J. Ryan
Fax No.: (516) 838-8887
If to Lender:
Augusta, Georgia
.530 Greene Street
Augusta, Georgia :30911
Attention: Charles R. Oliver
Fax No,: (706) 821-2819
(b) Grantor or Lender may change the address to which notices are to be sent or
the fax number to be used by giving the other party 10 business days written notice of the
change,
4.02. No Waiver of Future Compliance. Any indulgence or departure permitted at any
time by Lender from any of the provisions of this Deed or with respect to the Secured Debt
shall not modify the same or relate to the future or waive the requirement of future
compliance by Grantor.
4,03. Nomenclature, The words "Grantor" and "Lender" shall include their respective
successors and permitted assigns, and all those holding under either of them. The word
"Note" shall also include one or more notes and any amendments, substitutions, renewals,
or replacements to or for the Note. If more than one party executes this Deed, the term
"Grantor" shall mean all parties signing, and each of them, and each agreement, obligation,
and Secured Debt of Grantor shall be and mean the several as well as joint undertaking of
each of them. The word "including" shall mean "including (but not limited to)," unless
otherwise specifically stated,
4.04. Payment of Expenses, Grantor shall pay all of Lender's expenses incurred in any
efforts to enforce any terms of this Deed (regardless of whether a lawsuit is filed or
foreclosure is begun), including reasonable attorney's fees and legal expenses actually
incurred.
4.05. Certain Rights of Lender. Without affecting the liability of Grantor or any other
person (except any person expressly released in writing) for payment and performance of
any of the Secured Debt, Lender may at any time before or after the maturity of the Note
and from time to time and without notice to or consent of Grantor: (a) release any person
liable for the payment or performance of all or any part of the Secured Debt or for
performance of any obligation secured by this Deed; (b) extend or modify the terms of
payment of the Secured Debt or modify or waive any obligation or subordinate, modify, or
otherwise deal with the lien or charge of this Deed; (c) exercise or refrain from exercising or
waive any right Lender may have; (d) accept additional real or personal property as
security or alter, substitute, or release any property securing the Secured Debt.
4,06. Effect of Securitv Agreement, The security agreement and interests set forth in this
Deed shall not be construed to derogate from or impair the security title or provisions of
this Deed with respect to any property that is real property or that the parties have agreed
to treat as real property. The stated intention of Grantor and Lender is that all Property
is, and at all times and for all purposes and in all the proceedings both legal and equitable
shall be regarded as, real property and part of the real property encumbered by this Deed,
whether or not the same is physically attached to the Property. Similarly, nothing shall be
construed to alter any of the rights of Lender as determined by this Deed or the priority of
Lender's interest, and, insofar as it relates to the Property, such security agreement and
interest is declared to be for the protection of Lender in the event any court shall at any
time hold that notice of Lender's interest in any of the Property or interests described in
this Deed must, in order to be effective against a particular class of persons, including the
United States of America, be filed in the office where a financing statement relating to
such security agreement is filed.
4,07, Severabilitv, A determination that any provision of this Deed is unenforceable or
invalid shall not affect the enforceability or validity of any other provision, and any
determination that the application of any provision of this Deed to any person or
circumstance is illegal or unenforceable shall not affect the enforceability or validity of
such provision as it may apply to any other persons or circumstance,
4,08, Section Headings. The headings of the sections and paragraphs of this Deed are for
convenience only and shall not affect any of the terms of this Deed.
4.09, Governing Law. This Deed will be governed by and construed in accordance with
Georgia law,
4.10. Unsecured Portion of Debt, If any part of the Secured Debt cannot be lawfully
secured by this Deed or if any part of the Property or Collateral cannot be lawfully subject
to the lien and security interest of this Deed to the full extent of such debt, then all
payments made shall first be applied to the debt to discharge that portion that is not
secured by this Deed.
4.11. Conflict or Inconsistencv of Terms. If there is any inconsistency between this Deed
and any of the other Loan Documents, Lender shall have the right at its sole option to elect
which provision shall govern.
4.12, Amendments, This Deed may not be amended or modified orally, but only by an
instrument in writing signed by Lender and Grantor.
4,13, Subrogation. Lender shall be subrogated to any encumbrance, lien, claim, or
demand, and to all the rights and security for its payment, paid or discharged by Lender
under this Deed, and any such subrogation rights shall be additional and cumulative
security for Lender.
4.14. Time of the Essence, Time is of the essence of this Deed.
4.15. Limited Liabilitv. Notwithstanding any other provision of this Deed or the other
Loan Documents, but subject to the other provisions of this section, Grantor shall not be
personally liable for any of the Secured Debt, and Lender agrees to satisfy any unsatisfied
debt or judgment against Grantor for any default under the Loan Documents from the
Property, the Collateral, and any other collateral for the Loan. No other property or assets
of Grantor or any general or limited partner of Grantor shall be subject to levy, execution,
or other enforcement procedures for the satisfaction of such a debt or judgment,
Nothing in this Section shall: (1) release, impair, or otherwise affect the validity or
enforceability of any of the Loan Documents or the perfection or priority of this Deed and
Lender's interest and title in the Property, the Collateral, or any other collateral for the
Loan: (2) constitute a waiver of any obligation evidenced or secured by any Loan Document
or in any way be construed to release or impair the title or interests created by this Deed or
a security interest granted by any other Loan Document; (3) limit the rights or remedies of
Lender under any of the Loan Documents, including the right to foreclose, either judicially
or nonjudicially, Grantor's interest in the Property or to confirm any foreclosure or sale
pursuant to the power of sale in this Deed or to bring actions against Grantor and enter a
judgment against Grantor, so long as the exercise of any remedy does not extend to
execution against any property of Grantor or any general or limited partner of Grantor
other than the Property, Collateral, and any other collateral for the Loan; or (4) affect
Lender's right to bring any action against any guarantor under any guaranty, enter a
judgment, and satisfy any judgment obtained against any assets of any guarantor,
The limitation of liability set forth in this section shall be void and of no effect if
Grantor delays or attempts to delay any foreclosure or exercise of the power of sale under
this Deed or the foreclosure or exercise of any other remedy with respect to the Collateral
or any other collateral for the Loan, including a claim by Borrower that this Deed or any of
the other Loan Documents is invalid to the extent that Lender would be precluded from
exercising its remedies against the Property, Collateral, or other collateral for the Loan.
Without limiting the generality of the preceding sentence, the limitation of liability in this
section shall be void and of no effect if Grantor files a petition or begins any case or
proceeding under any provision or chapter of the Federal Bankruptcy Code; if Grantor
opposes Lender's motion to lift the automatic stay in any such proceeding; or if Grantor
files a proposed plan of reorganization that, subject to the rights of any senior lender,
provides that Lender would receive less than all of the Property, Collateral, and the other
collateral for the Loan or receive a lien on less than all of the Property, Collateral, and the
other collateral for the Loan,
The limitation of liability in this section shall not preclude Lender from: (a) naming
Grantor or any general partner of Grantor as a defendant in any action; (b) asserting that
any unpaid amount under the Loan Documents is a defense, counterclaim, or setoff against
any claim by Grantor or any partner of Grantor against Lender; (c) exercising self-help
remedies, such as setoff; or (d) enforcing any indemnity obligations, including any
environmental indemnities,
Notwithstanding any of the foregoing, Lender shall be entitled to injunctive relief in
connection with the following, and Grantor and its general partners shall remain and be
fully liable to Lender for damages (including consequential and punitive damages) suffered
by Lender as a result of any of the following:
(a) Grantor's misapplication of: (1) any rents and profits from the Property
received by Grantor that were in existence at or accrued after the time of a default under
any' of the Loan Documents; (2) any insurance proceeds received before the exercise of
Lender's remedies, \vhich proceeds are due to damage, loss, or destruction to the Property
(to the full extent of such proceeds): and (:3) any proceeds or awards resulting from the
condemnation of all or any part of the Property (to the full extent of such proceeds or
awards), if received before the exercise of Lender's remedies;
(b) fraud or misrepresentation or willful damage or waste to the Property by or
on behalf of Grantor;
(c) any liability, cost, or expense resulting from any violation of the covenants,
representations, and warranties regarding hazardous wastes and materials in this Deed or
any of the other Loan Documents;
As used in this Deed, the term "misapplication" means Grantor's failure to apply
funds to the reasonable and proper costs of ownership, operation, maintenance, repair, and
(when applicable) restoration of the Property, and the payment of principal, interest and
other amounts to be paid or due under any of the Loan Documents or any other loan
secured by the Property.
[Signatures on next page.]
IN WITNESS WHEREOF, Grantor has duly executed and sealed this Deed on the
day and year first above written,
OLDE TOWN ASSOCIATES, L.P., a Georgia
limited partnership
/l
By: \V,Jrite;Oak Old Town, Inc"
ips r9'ana 'ng general partner
/ / I /
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By:
-- ;Paula J, ,
{1.President
/ '
i
[CORPORATE SEAL]
Signed, seaJed, and delivered in the presence of:
.------,
./--- /'
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- -1 '- . . - / - 'L}~" ,
Unofficial Witness
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:.-/.L,t )1,_.\\ l.\ .....--.../\..Lt>,)\
Notary Pu&li~
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( )/.. , > ". I ,. '.,. v',-- ...
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[NOTARIAL SEAL]
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EXHIBIT A
DESCRIPTION OF REAL PROPERTY
[To be attached.]
EXHIBIT" A"
LEGAL DESCRIPTION 20 & 22 WALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING Ai'ID BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHO\VN At'ID DESIGNATED
AS TRACT "B" ON AN ALTA/ACSM Li.\1'\TD TITLE SURVEY DATED NOVEMBER 17,
1998, LAST REVISED DECEMBER 7, 1998. PREPARED BY W.R. TOOLE ENGINEERS,
INe. Ai'ID CERTIFIED BY STEVEN M. HARDY, GEORGIA REGISTERED LAi'ID
SURVEYOR NO, 2662 AND HAVING THE FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT-OF-WAY OF SIDLEY STREET (RAV
V ARIES)AND WALKER STREET (RJW V ARlES) AT A #5 REBAR FOUND, AND THE
TRUE POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE
SOUTHERt"\T RlGHT-OF-W A Y OF WALKER STREET SOUTH 66 DEGREES 35 MINUTES
34 SECONDS EAST A DISTANCE OF 40.01 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF 14 & 16 WALKER STREET SOUTH
22 DEGREES 56 MINUTES 15 SECONDS WEST A DISTANCE OF 127.54 FEET TO A
POINT; THENCE TURNING At~TI CONTINUING ALONG THE LINE OF NIF SEIGLER
NORTH 67 DEGREES 43 MINUTES 04 SECONDS WEST A DISTANCE OF 40.03 FEET TO
A POINT; THENCE TURNING At'ID CONTINUING ALONG THE EAST RlGHT-OF-WAY
OF SIDLEY STREET NORTH 22 DEGREES 57 MINUTES 00 SECONDS EAST A
DISTANCE OF 128.32 FEET TO THE TRUE POINT OF BEGINNING.
LEGAL DESCRIPTION 14 & 16 \VALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RlCHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "A" ON AN ALTA/ACSM LAND TITLE SURVEY DATED NOVEMBER 17,
1998, LAST REVISED DECEMBER 7,1998, PREPARED BY W.R. TOOLE ENGINEERS,
me. AND CERTIFIED BY STEVEN M, HARDY, GEORGIA REGISTERED LAND
SURVEYOR NO. 2662 AND HAVING THE FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RlGHT -OF - WAY OF SIDLEY STREET (R/W V ARIES)
AND WALKER STREET (RJW V ARIES) AND CONTINUING EAST ALONG THE
SOUTHERN RlGHT-OF-WAY OF WALKER STREET 40.01 FEET TO A #5 REBAR
FOUND, AND THE TRUE POINT-OF-BEGINNING; THENCE TURNING AND
CONTINUING ALONG THE SOUTHERt'\[ RlGHT -OF - W AY OF WALKER STREET SOUTH
66 DEGREES 38 MINUTES 45 SECONDS EAST A DISTANCE OF 39.95 FEET TO A 1/2
INCH OPEN TOP FOUND, THENCE TURNING AND CONTINUING ALONG THE LINE
OF NIF PRlCEY SOUTH 22 DEGREES 55 MINUTES 04 SECONDS WEST A DISTANCE
OF 128,87 FEET TO A POINT; THENCE TURNING AND CONTINUING ALONG THE
LINE OF N/F SEIGLER NORTH 64 DEGREES 44 MINUTES 13 SECONDS WEST A
DIST ANCE OF 40,02 FEET TO A POINT; THENCE TURNING At'ID CONTINUING
ALONG THE LINE OF 20 & 22 WALKER STREET NORTH 22 DEGREES 56 MINUTES 15
SECONDS EAST A DISTANCE OF 127.54 FEET TO THE SOUTHEIU-J RIGHT-OF-WAY
OF WALKER STREET Ai'ID THE TRUE POINT-OF-BEGINNING,
LEGAL DESCRIPTION: 101 \VATKINS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LA1"ill, LYING A.l'ID BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN Ai"ill DESIGNATED
ON Al'\J' ALTAlACSM LAND TITLE SURVEY, DATED OCTOBER 20,1998, LAST
REVISED DECEMBER 7,1998 PREPARED BY W,R. TOOLE ENGINEERS, INC. AND
CERTIFIED BY STEVEN M, HARDY, GEORGIA REGISTERED LAND SURVEYOR NO,
2662 ANTI HAVING THE FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT-OF-WAY OF WATKINS STREET (R/W
V ARIES) AND 1 ST STREET (R/W V ARIES) AT A #5 REBAR SET, AND THE TRUE
POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE NORTH
RIGHT-OF-WAY OF WATKINS STREET NORTH 65 DEGREES 49 MINUTES 34
SECONDS WEST A DISTANCE OF 50,00 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF N/F DR. lE. CARTER, JR. NORTH
24 DEGREES 17 MINUTES 52 SECONDS EAST A DISTANCE OF 49,92 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F
DOWNTOWN AUGUST A, INe. SOUTH 65 DEGREES 54 MINUTES 48 SECONDS EAST
A DISTANCE OF 50,17 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE WEST RIGHT-OF-WAY OF 1ST STREET SOUTH 24
DEGREES 29 MINUTES 27 SECONDS WEST A DISTANCE OF 20.76 FEET TO A POINT;
THENCE TURNING AND CONTINUING SOUTH 65 DEGREES 30 MINUTES 33
SECONDS EAST A DISTANCE OF 2.55 FEET TO A POINT; THENCE TURJ'\J'ING AND
CONTINUING SOUTH 24 DEGREES 29 MINUTES 27 SECONDS WEST A DISTANCE OF
29.24 FEET TO A POINT; THENCE TURNING AND CONTINUING NORTH 65 DEGREES
30 MINUTES 33 SECONDS WEST A DISTAi'\J'CE OF 2,55 FEET TO THE TRUE POINT OF
BEGINNING,
LEGAL DESCRIPTION: 305 WALKER STREET
ALL THAT LOT OR PARCEL OF LAND, WITH IMPROVEMENTS THEREON, SITUATE,
LYING AND BEING IN THE CITY OF AUGUSTA, RICHMOND COUNTY, GEORGIA,
FRONTING A DISTANCE OF 60 FEET, MORE OR LESS, ON THE NORTH SIDE OF
WALKER STREET, BETWEEN THIRD Ai'\fD FOURTH STREETS, AND EXTENDING
BACK OF EVEN \VTDTH, A DISTANCE OF 162 FEET, MORE OR LESS, AND BEING
KJ'\J'OWN Ai'ID DESIGNATED AS LOT NO. 119 ON \VTLLIAi\t! PHILLIPS' MAP OF THE
CITY OF AUGUSTA RECORDED IN THE OFFICE OF THE CLERK OF SUPERIOR
COURT OF RICHMOND COUNTY, GEORGIA, IN REALTY BOOK 18F, PAGE 420.
REFERENCE IS HEREBY MADE TO SAlD PLAT FOR A MORE COMPLETE AND
ACCURATE DESCRIPTION AS TO THE METES, BOUNDS Ai"ill LOCATION OF SAID
PROPERTY.
2
F:' DocumcntslPRClwhitc oakILEG,\L DESCRIPTIONS,CO:>1I3INE4,doc
A MORE RECENT PLAT PREPARED BY TOOLE SURVEYING COMPANY FOR GLDE
TO\VN PROPERTIES I, DATED MARCH 16, 1989, IS RECORDED IN REALTY REEL 307,
PAGE 713, IN SAID CLERK'S OFFICE,
SAID PROPERTY IS KJ~OWN AND DESIGNATED AS 305 WALKER STREET
ACCORDING TO THE SYSTEM OF STREET NlJNfBERING CURRENTLY IN USE IN
AUGUSTA, RICHMOND COUNTY, GEORGIA.
LEGAL DESCRIPTION: 260 REYNOLDS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, AND BEING MORE FULLY SHOWN AND
DESIGNATED ON AN ALTAJACSM LAND TITLE SURVEY DATED 10/9/98 PREPARED
BY W,R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662 AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHWEST RIGHT-OF-WAY INTERSECTION OF 2ND STREET
(RIW VARIES) AND REYNOLDS STREET (RIW V ARIES) AND CONTINUING WEST
ALONG THE SOUTH RIGHT -OF- WAY OF REYNOLDS STREET 609,31 FEET:!: TO A 5/8
INCH OPEN TOP FOUND, AND THE TRUE POINT OF BEGINNING; THENCE TURNING
AND CONTINUING ALONG THE LINE OF N/F GAY, SOUTH 24 DEGREES 16 MINUTES
35 SECONDS WEST AS DISTANCE OF 115.11 FEET TO A 5/8 INCH OPEN TOP FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F BATTEY, NORTH 66
DEGREE4S 07 MINUTES 17 SECONDS WEST A DISTANCE OF 25.50 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG AN EXISTING
ALLEY NORTH 03 DEGREES 49 MINUTES 11 SECONDS EAST A DISTANCE OF 43.61
FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG AN
EXISTING ALLEY NORTH 24 DEGREES 12 MINUTES 15 SECONDS EAST A DISTANCE
A DISTANCE OF 74,24 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE SOUTH RIGHT OF WAY OF REYNOLDS STREET SOUTH
65 DEGREES 59 MINUTES 16 SECONDS EAST A DISTANCE OF 40.83 FEET TO THE
TRUE POINT OF BEGINNING AND CONTAlNING 0.10 ACRES (4,382.38 SQUARE FEET)
LEGAL DESCRIPTION: 209 TELFAIR STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAJACSM LAND TITLE SURVEY DATED OCTOBER 14, 1998, PREPARED
BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662 AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT OF WAY INTERSECTION OFTELF AIR
STREET (R1W V ARIES) AND 2ND STREET (R1W V ARIES) At"ID CONTINUING WEST
3
F:" Documents\PRC\white oak\LEGAL DESCRJPTlONS.CO:--'113INE4.doc
ALONG THE NORTH RIGHT OF WAY OF TELFAIR STREET 100 FEET:t TO A #5
REBAR FOUND, AND BEING THE TRUE POINT OF BEGINNING; THENCE TURl"ITNG
AND CONTINUING ALONG THE NORTH RIGHT OF WAY OF TELFAIR STREET
NORTH 67 DEGREES 38 MINUTES At'\fD 50 SECONDS WEST A DISTANCE OF 36.00
FEET TO A #5 REBAR FOUND; THENCE TURl"ITNG AND CONTINUING ALONG THE
LINE OF NIF BRANCH, NORTH 22 DEGREES 35 MINUTES 33 SECONDS EAST A
DIST ANCE OF 176.31 FEET TO A 3/4 INCH CRIMPED TOP FOUND; THENCE TURl"ITNG
AND CONTil'HJING ALONG THE LINE OF N/F SACCO AND NIF MABEN, SOUTH 69
DEGREES 04 MINUTES 52 SECONDS EAST A DISTANCE OF 35,79 FEET TO A #5
REBAR FOUND; THENCE TURl'\fING AND CONTINUING ALONG THE LINE OF NIF
HARRIS At'ID NIF CONNELL SOUTH 22 DEGREES 31 MINUTES 09 SECONDS WEST A
DISTA.NCE OF 177,20 FEET TO THE TRUE POINT OF BEGINNING AND CONTAINING
0.15 ACRES (6,343,39 SQUARE FEET).
LEGAL DESCRIPTION: 228 TELFAIR STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTNACSM LAND TITLE SURVEY DATED OCTOBER 9,1998, PREPARED BY
W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY, GEORGIA
REGISTERED LAND SURVEYOR NO, 2662, AND HAVING THE FOLLOWING METES
AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY INTERSECTION OF 3RD STREET
(RJW V ARIES) AND TELFAIR STREET (RJW V ARIES) AND CONTINUING EAST
ALONG THE SOUTH RIGHT OF WAY OF TELFAIR STREET 503.58 FEET:t TO A #5
REBAR FOUND, AND THE TRUE POINT OF BEGINNING; THENCE TURNING AND
CONTINUING ALONG THE SOUTH RIGHT OF WAY OF TELFAIR STREET SOUTH 67
DEGREES 37 MINUTES 26 SECONDS EAST A DISTANCE OF 33,29 FEET TO A #4
REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF NIF
MIRICK SOUTH 21 DEGREES 31 MINUTES 01 SECOND WEST A DISTANCE OF 169,85
FEET TO A #5 REBAR FOUND; THENCE TURt"ITNG AND CONTINUING ALONG THE
LINE OF NIF ROUNDTREE AND NIF YOUNG NORTH 68 DEGREES 51 MINUTES 26
SECONDS WEST A DISTANCE OF 32.34 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF 230 TELFAIR STREET NORTH 21
DEGREES 11 MINUTES 58 SECONDS EAST A DISTANCE OF 170,56 FEET TO THE
TRUE POINT OF BEGINNING AND CONTAINING 0,13 ACRES (5,584.46 SQUARE
FEET),
LEGAL DESCRIPTION: 230 TELFAIR STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHO\VN AND DESIGNATED
ON At"J ALTNACSM LAND TITLE SURVEY DATED OCTOBER 9,1998, PREPARED BY
W.R. TOOLE ENGINEERS, me. AND CERTIFIED BY STEVEN M. HARDY, GEORGIA
4
r Documcnts\I'RC\whilC oak\LEGAL DESCRJI'TIONS.COivlI3INE4,doc
REGISTERED LAi"ID SURVEYOR NO, 2662. AND HAVING THE FOLLOWING METES
AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY INTERSECTION OF 3RD STREET
(R/W VARIES) AND TELFAIR STREET (RJW V ARIES) AND CONTINUING EAST
ALONG THE SOUTH RIGHT OF WAY OF TELFAIR STREET 470.58 FEET :t TO A #4
REBAR SET, Ai"ID THE TRUE POINT OF BEGINNING; THENCE TURNING AND
CONTINUING ALONG THE SOUTH RIGHT OF WAY OF TELFAIR STREET SOUTH 67
DEGREES 37 MINUTES 26 SECONDS EAST A DISTANCE OF 33.00 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF 228
TELFAIR STREET SOUTH 21 DEGREES 11 MINUTES 58 SECONDS WEST A DISTANCE
OF 170.56 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING
ALONG THE LINE OF NIF YOUNG AND NIF WILLIAMS NORTH 67 DEGREES 07
MINUTES 00 SECONDS \VEST A DISTANCE OF 32.64 FEET TO A #5 REBAR FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF NIF ALLEN NORTH 21
DEGREES 04 MINUTES 36 SECONDS EAST A DISTANCE OF 170.28 FEET TO THE
TRUE POINT OF BEGINNING AND CONTAINING 0.13 ACRES (5,591.39 SQUARE
FEET).
LEGAL DESCRIPTION: 224 BROAD STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAJACSM LAND TITLE SURVEY DATED OCTOBER 21,1998, PREPARED
BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHWEST RIGHT OF WAY OF 2ND STREET (R/W V ARIES)
AND BROAD STREET (R/W V ARIES) AND CONTINUING WEST ALONG THE SOUTH
RIGHT OF WAY OF BROAD STREET 247,50 FEET :t TO A P.K. NAIL FOUND AND THE
TRUE POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE
LINE OF NIF ANDERSON SOUTH 23 DEGREES 38 MINUTES 12 SECONDS WEST A
DISTANCE OF 133.70 FEET TO A #4 REBAR SET; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIF DOWNTO\VN AUGUST A NORTH 68
DEGREES 16 MINUTES 05 SECONDS WEST A DISTANCE OF 54.02 FEET TO A #4
REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF NIF
MCGAHEE NORTH 23 DEGREES 37 MINUTES 14 SECONDS EAST A DISTANCE OF
134,76 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG
THE SOUTH RIGHT OF WAY OF BROAD STREET SOUTH 67 DEGREES 08 MINUTES 50
SECONDS EAST A DISTANCE OF 54.03 FEET TO THE TRUE POINT OF BEGINNING
AND CONTAINING 0,17 ACRES (7,249,35 SQUARE FEET).
5
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LEGAL DESCRIPTION: 111 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LA.J.'ID LYING ,t\1'ID BEING IN
RICHMONl) COUNTY, GEORGIA, BEING MORE FULLY SHOWN At"ID DESIGNATED
ON AN ALTAJACSM LANTI TITLE SURVEY DATED OCTOBER 20.1998, PREPARED
BY W.R, TOOLE ENGINeERS, me. Al\TD CERTIFIED BY STEVEN M, HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO, 2662, AND HAVING THE FOLLOWING
~vlETES AND BOUl\TDS TO \VIT:
BEGINNING AT THE NORTHWEST RIGHT OF WAY OF FORSYTHE STREET (R/W
VARIES) AND ELLIS STREET (R/W V ARIES) At"ID CONTINUING WEST ALONG THE
NORTH RlGHT OF WAY OF ELLIS STREET 49.00 FEET:t TO A #5 REBAR FOUND AND
THE TRUE POINT OF BEGINNTNG; THENCE TURi'ITNG AND CONTINUING ALONG
THE NORTH RIGHT OF WAY OF ELLIS STREET NORTH 66 DEGREES 00 MINUTES 00
SECONDS WEST A DISTANCE OF 48,52 FEET TO A #5 REBAR FOUND; THENCE
TURi'J'ING AND CONTINUING ALONG THE LINE OF NIF MCGOW ANS FLORIST
NORTH 25 DEGREES 01 MINUTE 43 SECONDS EAST A DISTAt'J'CE OF 90.91 FEET TO
A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF
NIF CONNELL SOUTH 66 DEGREES 04 MINUTES 54 SECONDS EAST A DISTANCE OF
47.51 FEET TO A #5 REBAR FOUND; THENCE TURi'ITNG AND CONTINUING ALONG
THE LINE OF NIF AGNEW SOUTH 24 DEGREES 23 MINUTES 20 SECONDS WEST A
DIST ANCE OF 90.96 FEET TO THE TRUE POINT OF BEGINNTNG At"ID CONTAINING
0,10 ACRES (4,365.88 SQUARE FEET).
LEGAL DESCRIPTION: 409 \V ALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAt'J'D LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN At"ID DESIGNATED
ON At'J' ALTAlACSM LAND TITLE SURVEY DATED OCTOBER 9,1998, PREPARED BY
W,R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M. HARDY, GEORGIA
REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING METES
A.l'ill BOUNDS TO WIT:
BEGINNING AT THE NORTHEAST RIGHT OF WAY INTERSECTION OF WALKER
STREET (RJW VARIES) AND GORDON HIGHWAY (150 FEET R/W) AT A 1 INCH
CRIMPED TOP FOUND AND BEING THE TRUE POINT OF BEGINNTNG; THENCE
TURt'ITNG AND CONTINUING ALONG THE EAST RlGHT OF WAY OF GORDON
HIGHWAY NORTH 25 DEGREES 25 MINUTES 50 SECONDS EAST A DISTANCE OF
] 31.69 FEET TO A 5/8 INCH OPEN TOP FOUND; THENCE TURi'J'ING AND
CONTINUING ALONG THE LINE OF NIF REDDY SOUTH 63 DEGREES 21 MINUTES 37
SECONDS EAST A DIST At'J'CE OF 36,67 FEET TO A #5 REBAR FOUND; THENCE
TURt"JING ,i\l"ID CONTINUING ALONG THE LINE OF NIF ZARGE SOUTH 23 DEGREES
04 MINUTES 36 SECONDS WEST A DISTANCE OF 130,65 FEET TO A #5 REBAR
FOlJND; THENCE TURi'ITNG AND CONTINUING ALONG THE NORTH RIGHT OF WAY
OF WALKER STREET NORTH 65 DEGREES 04 MINuTES 36 SECONDS WEST A
G
r:: i)ucumcnlS I' RC\whitc ll"k\LEG.\ L DESCRIPTIONSCOc.l r3! N [-l.dOe
DIST Ai'\JCE OF 42.03 FEET TO THE TRUE POINT OF BEGINNING At'\JD CONTAINING
0.12 ACRES (5,158.18 SQUARE FEET).
LEGAL DESCRIPTION: 101 & 103 1ST STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAt'\JD LYING At'\JD BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTA/ACSM LAND TITLE SURVEY DATED OCTOBER 20,1998, PREPARED
BY W,R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO, 2662, At'\JD HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHWEST RIGHT OF WAY INTERSECTION OF REYNOLDS
STREET (RJW VARIES) AND 1ST STREET (RJW V ARJ;,ES) AT A #5 REBAR FOUND AND
THE TRUE POINT OF BEGINNING; THENCE TURJ'\ITNG AND CONTINUING ALONG
THE WEST RIGHT OF WAY OF 1 ST STREET SOUTH 24 DEGREES 01 MINUTE 17
SECONDS WEST A DISTANCE OF 65,12 FEET TO #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF N/F WASHINGTON NORTH 65
DEGREES 55 MINUTES 56 SECONDS WEST A DISTANCE OF 75.83 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F
CARTER AND N/F ZARGE NORTH 23 DEGREES 51 MINUTES 02 SECONDS EAST A
DISTANCE OF 65.03 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE SOUTH RIGHT OF WAY OF REYNOLDS STREET SOUTH
66 DEGREES 00 MINUTES 00 SECONDS EAST A DISTANCE OF 76.02 FEET TO THE
TRUE POINT OF BEGINNING AND CONTAINING 0,11 ACRES (4,940.70 SQUARE
FEET).
LEGAL DESCRIPTION: 237 TELFAIR STREET
ALL TRA T CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTNACSM LAND TITLE SURVEY DATED OCTOBER 14,1998, PREPARED
BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO, 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHEAST RIGHT OF WAY INTERSECTION OF 3RD STREET
(R/W V ARIES) AND TELFAIR STREET (R1W V ARIES) AND CONTINUING EAST
ALONG THE NORTH RIGHT OF WAY OF TELFAIR STREET 344,68 FEET :t TO A #5
REBAR FOUND AND THE TRUE POINT OF BEGINNING; THENCE TURNING AND
CONTINUING ALONG THE LINE OF N/F TRITT AND WALKER NORTH 22 DEGREES
45 MINUTES 57 SECONDS EAST A DISTANCE OF 174.91 FEET TO A #4 REBAR SET;
THENCE TURNING AND CONTINUING ALONG THE LINE OF DOWNTOWN
AUGUSTA, INe. AND N/F BALK, SOUTH 67 DEGREES 09 MINUTES 44 SECONDS
EAST A DISTANCE OF 33,60 FEET TO A 3/4 INCH OPEN TOP FOUND; THENCE
TURJ"ITNG AND CONTINUING ALONG THE LINE OF N/F BALK, SOUTH 22 DEGREES
7
f':'.Documenls\PRC\while oak\LEGAL DESCRIPTIONS.CO\lI3INE4.doc
EXHIBIT B
PERMITTED TITLE EXCEPTIONS
1. Deed to Secure Debt to the Georgia Department of Community Affairs.
Recorded in Deed Book _, page _ of the Richmond County, Georgia real estate
records,
46 MINUTES 16 SECONDS WEST A DISTANCE OF 174.77 FEET TO A #4 REBAR SET;
THENCE TURNING AND CONTINlJ1NG ALONG THE NORTH RIGHT OF WAY OF
TELFAIR STREET NORTH 67 DEGREES 24 MINUTES 03 SECONDS WEST A DISTANCE
OF 33,59 FEET TO THE TRUE POINT OF BEGINNING AND CONTAINING 0.13 ACRES
(5,873,89 SQUARE FEET),
LEGAL DESCRIPTION: 134 & 136 \V ALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING At'ID BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHO\VN At'ID DESIGNATED
ON AN ALTNACSM LAND TITLE SlJRVEY DATED OCTOBER 21,1998, PREPARED
BY W.R. TOOLE ENGINEERS, 1Ne. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO, 2662, At'ID HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY OF 2ND STREET (MV V ARIES)
AND WALKER STREET (R/W V ARIES) AND CONTINUING EAST ALONG THE SOUTH
RIGHT OF WAY OF WALKER STREET 124,50 FEET:t TO A #5 REBAR FOUND BEING
THE TRUE POINT OF BEGINNING, THENCE TURNING AND CONTINillNG ALONG
THE SOUTH RIGHT OF WAY OF WALKER STREET SOUTH 66 DEGREES 33 MINUTES
32 SECONDS EAST A DISTANCE OF 42.97 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF NIF BAUKNIGHT SOUTH 23
DEGREES 25 MINUTES 00 SECONDS WEST A DISTAt'\JCE OF 132.01 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF NIF
CIMANYD INC, NIF DAVIS, NIF JACKSON, NORTH 66 DEGREES 38 MINUTES 47
SECONDS WEST A DISTANCE OF 42.98 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF NIF BAILEY NORTH 23 DEGREES
25 MINUTES 28 SECONDS EAST A DISTANCE OF 132.07 FEET TO THE TRUE POINT
OF BEGINNING AND CONTAINING 0.13 ACRES (5,669.54 SQUARE FEET),
LEGAL DESCRIPTION: 259 GREENE STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RlCHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAJACSM LAND TITLE SURVEY DATED OCTOBER 19,1998, PREPARED
BY W.R, TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, At'ID HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHEAST RIGHT OF WAY OF 3RD STREET (R/W VARIES)
AND GREENE STREET (R/W V ARIES) AND CONTINUING EAST ALONG THE NORTH
RIGHT OF WAY OF GREENE STREET 52,28 FEET :t TO A SPIKE FOUND AND THE
TRUE POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE
LINE OF NIF GRABLOSKl NORTH 22 DEGREES 43 MINUTES 12 SECONDS EAST A
DISTANCE OF 119,55 FEET TO A CORNER OF BRICK WALL; THENCE TURNING AND
CONTINUING ALONG THE LINE OF N/F BRY At'\JT SOUTH 67 DEGREES 58 MINUTES
8
F:\Documcnts',!'RC\whitc oak\LEGAL DESCRIPTIONS.CO:vlBINE4,uoc
07 SECONDS EAST A DISTANCE OF 30,85 FEET TO A CORt"ffiR OF WALL: THENCE
TUR.1'\fING A..l'ID CONTINUING ALONG THE LINE OF NIF BRY AJ."J'T NORTH 26
DEGREES 06 MINUTES 58 SECONTIS EAST A DISTANCE OF 14.85 FEET TO A #5
REBAR FOUND; THENCE TURt'\fING AND CONTINUING ALONG THE LINE OF NIF
SULLIVAN SOUTH 66 DEGREES 58 MINUTES 57 SECONDS EAST A DISTANCE OF
16.43 FEET TO A #4 REBAR SET; THENCE TlJRNING AND CONTIl'-,rUING ALONG THE
LINE OF NIF BUCKLEY SOUTH 23 DEGREES 30 MINuTES 09 SECONDS WEST A
DIST AJ."J'CE OF 133.69 FEET TO A 1/2 INCH FLAT BAR; THENCE TURNING AJ."J'D '
CONTINUING ALONG THE NORTH RIGHT OF WAY OF GREENE STREET NORTH 68
DEGREES 30 MINUTES 00 SECONDS WEST A DISTANCE OF 46.34 FEET TO THE TRUE
POINT OF BEGINNING AND CONTAlNING 0,13 ACRES (5,872.50 SQUARE FEET).
LEGAL DESCRIPTION: 256 GREENE STREET
ALL THAT CER T AlN PIECE, PARCEL OR LOT OF LAJ.'ID LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "A" ON AN ALTNACSM LAJ.'ID TITLE SURVEY DATED OCTOBER 9, 1998,
PREPARED BY W,R, TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLO\VING METES AJ.'ID BOUNDS TO vvlT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY OF GREENE STREET (RAV
V ARIES) AND 3RD STREET (RAV V ARIES) AND CONTINUING ALONG THE SOUTH
RIGHT OF WAY OF GREENE STREET 155.41 FEET:t TO A #4 REBAR SET AND THE
TRUE POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE
SOUTH RIGHT OF WAY OF GREENE STREET SOUTH 67 DEGREES 29 MINUTES 30
SECONDS EAST A DISTANCE OF 33,01 FEET TO A #4 REBAR SET; THENCE TURNING
AJ.'ID CONTINUING ALONG THE LINE OF NIF BIGHOM SOUTH 23 DEGREES 41
MINUTES 16 SECONDS WEST A DISTANCE OF 173,27 FEET TO A #5 REBAR FOUND;
THENCE TURNING At'ID CONTINUING ALONG THE LINE OF NIF THOMPKINS AND
NIF BEALE NORTH 66 DEGREES 13 MINUTES 55 SECONDS WEST A DISTANCE OF
32,99 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG
THE LINE OF 258 GREENE STREET NORTH 23 DEGREES 40 MINUTES 55 SECONDS
EAST A DIST At'-JCE OF 172.54 FEET TO THE TRUE POINT OF BEGINNING AND
CONTAINING 0.13 ACRES (5,704.80 SQUARE FEET).
LEGAL DESCRIPTION: 258 GREENE STREET
ALL THAT CERTAlN PIECE, PARCEL OR LOT OF LAND LYING At'ID BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AJ.'ID DESIGNATED
AS TRACT "B" ON AN ALTNACSM LAJ.'ID TITLE SURVEY DATED OCTOBER 9,1998,
PREP ARED BY W.R, TOOLE ENGINEERS, INe. AJ.'ID CERTIFIED BY STEVEN M,
HARDY, GEORGIA REGISTERED LAJ.'ID SURVEYOR NO, 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
<)
F:' Documcnls\PRCwhitc oaklLEGAL DESCRIPTIONS.COMBINE4,doc
BEGfNNING AT THE SOUTHEAST RIGHT OF WAY OF GREENE STREET (RlW
V ARIES) Al'ID 3RD STREET (RlW V ARlES) AND CONTINUING ALONG THE SOUTH
RIGHT-OF-WAY OF GREENE STREET 122.51 FEET == TO A #4 REBAR SET Al'ID THE
TRUE POINT OF BEGfNNING; THENCE CONTINUING ALONG THE SOUTH RIGHT OF
WAY OF GREENE STREET SOUTH 67 DEGREES 29 MINUTES 30 SECONDS EAST A
DIST ANCE OF 32.90 FEET TO A #4 REBAR SET; THENCE TURNING AND
CONTINUlNG ALONG THE LD\TE OF 256 GREENE STREET SOUTH 23 DEGREES 40
MINUTES 55 SECONDS \VEST A DISTANCE OF 172.54 FEET TO A #5 REBAR FOUND;
THENCE TURt"fING AND CONTINUING ALONG THE LINE OF N/F BEALE AND N/F
BARTON INVESTMENT CO. INe. NORTH 66 DEGREES 13 MINUTES 55 SECONDS
WEST A DISTANCE OF 32.96 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINt OF 260 GREENE STREET NORTH 23 DEGREES 42
MINUTES 20 SECONDS EAST A DISTA,..l~CE OF 171.82 FEET TO THE TRUE POINT OF
BEGINNING At'ID CONTAINING 0,13 ACRES (5,669,67 SQUARE FEET).
LEGAL DESCRIPTION: 260 GREENE STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "C" ON AN ALTNACSM LAND TITLE SURVEY DATED OCTOBER 9,1998,
PREPARED BY W,R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAl'ID SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY INTERSECTION OF 3RD STREET
(RlW V ARIES) AND GREENE STREET (RlW V ARIES) AND CONTINUING EAST
ALONG THE SOUTHERN RIGHT OF WAY OF GREENE STREET 89.5 FEET:t TO A #4
REBAR SET AND THE TRUE POINT OF BEGINNING; THENCE TURNING AND
CONTINUING ALONG THE SOUTH RIGHT OF WAY GREENE STREET SOUTH 67
DEGREES 29 MINUTES 30 SECONDS EAST A DISTANCE OF 33.01 FEET TO A #4
REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF 258
GREENE STREET SOUTH 23 DEGREES 42 MINUTES 20 SECONDS WEST A DISTANCE
OF 171.82 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING
ALONG THE LINE OF BARTON INVESTMENT CO me. NORTH 66 DEGREES 13
MINUTES 55 SECONDS WEST A DISTANCE OF 32.98 FEET TO A 5/8 INCH CRIMPED
TOP FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF AUGUST A
MINISTERS UNION, N/F ROBERTS AND N/F GRADY NORTH 23 DEGREES 41
MINUTES 58 SECONDS EAST A DIST Al~CE OF 171.10 FEET TO THE TRUE POINT OF
BEGINNING AND CONTAINING 0.13 ACRES (5,657,19 SQUARE FEET),
LEGAL DESCRIPTION: 608 & 610 THIRD STREET & 264 WALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "D" ON AN ALTNACSM LAl'ID TITLE SURVEY DATED NOVEMBER 13,
10
f':' DocumcntsPRC\whitc oak\LEG:\L DESCRIPTIONS,CO....1BINE4.ooc
1998. PREPARED BY W,R. TOOLE ENGThTEERS, INe. AND CERTIFIED BY STEVEN M,
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO, 2662, A.ND HAVING THE
FOLLOWING METES At"ID BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY OF THIRD STREET (R/W V ARIES)
ANTI \V ALKER STREET (R/W V ARIES) AT A #4 REBAR SET AND THE TRUE POINT OF
BEGINNING; THENCE TURNING AND CONTINUING EAST ALONG THE SOUTH
RIGHT OF WAY OF WALKER STREET SOUTH 66 DEGREES 34 MINUTES 40 SECONDS
EAST A DISTAt"JCE OF 54.39 FEET TO A #4 REBAR SET; THENCE SOUTH 21 DEGREES
44 MINUTES 19 SECONDS WEST A DISTANCE OF 1,90 FEET TO A # 5 REBAR FOUND;
THENCE TURNING AND CONTINUING ALONG THE tINE OF 262 WALKER STREET
SOUTH 23 DEGREES 45 MINUTES 24 SECONDS WEST A DISTANCE OF 134,84 FEET
TO A #4 REBAR SET; THENCE TURNING At'-;ro CONTINUING ALONG THE LINE OF
614 THIRD STREET NORTH 66 DEGREES 26 MINUTES 02 SECONDS WEST A
DIST At"JCE OF 52.56 FEET TO A #4 REBAR SET; THENCE TURNING AND
CONTINUING NORTH 66 DEGREES 26 MINUTES 02 SECONDS WEST A DISTANCE OF
1,93 FEET TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE
RIGHT OF WAY OF THIRD STREET NORTH 23 DEGREES 46 MINUTES 10 SECONDS
EAST A DISTANCE OF 136.60 FEET TO THE TRUE POINT OF BEGINNING AND
CONT AlNING 0.17 ACRES (7,444,87 SQUARE FEET).
LEGAL DESCRIPTION: 262 \V ALKER STREET
ALL THA T CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "C" ON AN ALTAJACSM LAND TITLE SURVEY DATED NOVEMBER 13,
1998, PREPARED BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO, 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RlGHT OF WAY OF THIRD STREET (R1W V ARIES)
AND WALKER STREET (R/W V ARIES) AND CONTINUING EAST ALONG THE SOUTH
RIGHT OF WAY OF WALKER STREET 54.39 FEET TO A #4 REBAR SET; THENCE
TURNING AND CONTINUING SOUTH 21 DEGREES 44 MINUTES 19 SECONDS WEST A
DISTANCE OF 1.90 FEET TO A #4 REBAR SET AND THE TRUE POINT OF BEGINNING;
THENCE TURNING AND CONTINUING ALONG THE SOUTH RIGHT OF WAY OF
WALKER STREET SOUTH 66 DEGREES 25 MINUTES 22 SECONDS EAST A DISTANCE
OF 46.18 FEET TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG
THE LINE OF 260 WALKER STREET SOUTH 23 DEGREES 41 MINUTES 06 SECONDS
WEST A DISTAt"JCE OF 134;83 FEET TO A #4 REBAR SET; THENCE TURJ."ITNG AND
CONTINUING ALONG THE LINE OF 614 THIRD STREET NORTH 66 DEGREES 26
MINlJTES 23 SECONDS WEST A DIST At"JCE OF 46,35 FEET TO A #4 REBAR SET;
THENCE TURNING AND CONTINUING ALONG THE LINE OF 608 AND 610 THIRD
STREET & 264 WALKER STREET NORTH 23 DEGREES 45 MINUTES 24 SECONDS
11
f'\Documcnts\PRC\whitc o3k\LEGAL DESCRIPTIONS,COMI3INE4.doc
EAST A DISTA.1~CE OF 134,84 FEET TO THE TRUE POINT OF BEGINNING AND
CONTAINING 0,14 ACRES (6,238,11 SQUARE FEET),
LEGAL DESCRIPTION: 260 \VALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "B" ON A.1~ ALT.NACSM LAND TITLE SURVEY FOR DATED NOVEMBER
13,1998, PREPARED BY W,R, TOOLE ENGINEERS, me. A.1~D CERTIFIED BY STEVEN
M. HARDY, GEORGIA REGISTERED LAND SURVEYOR NO, 2662, A.1~D HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY OF THIRD STREET (R/W V ARlES)
AND WALKER STREET (R/W V ARlES) AND CONTINUING EAST ALONG THE SOUTH
RIGHT OF WAY OF WALKER STREET 54,39 FEET TO A #4 REBAR SET; THENCE
TURNING AND CONTINUING SOUTH 21 DEGREES 44 MINUTES 19 SECONDS WEST A
DIST ANCE OF 1.90 FEET TO A #4 REBAR SET; THENCE CONTINUING EAST ALONG
THE SOUTH RIGHT OF WAY OF WALKER STREET 46.18 FEET TO A #4 REBAR SET
AND THE TRUE POINT OF BEGINNING; THENCE TURNING AND CONTINUING
ALONG THE SOUTH RIGHT OF WAY OF WALKER STREET SOUTH 66 DEGREES 37
MINUTES 45 SECONDS EAST A DISTANCE OF 44,22 FEET TO A #4 REBAR SET;
THENCE TURNING AND CONTINUING ALONG THE L INE OF 256 WALKER STREET
SOUTH 23 DEGREES 41 MINUTES 36 SECONDS WEST A DISTANCE OF 134.99 FEET
TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF
NIF WARREN NORTH 66 DEGREES 21 MINUTES 58 SECONDS WEST A DISTANCE OF
12.84 FEET TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE
LINE OF 614 THIRD STREET NORTH 66 DEGREES 26 MINUTES 22 SECONDS WEST A
DISTANCE OF 31.36 FEET TO A #4 REBAR SET; THENCE TURNING AND
CONTINUING ALONG THE LINE OF 262 WALKER STREET NORTH 23 DEGREES 41
MINUTES 06 SECONDS EAST A DISTANCE OF 134.83 FEET TO THE TRUE POINT OF
BEGINNING AND CONTAINING 0.14 ACRES (5,964,14 SQUARE FEET).
LEGAL DESCRIPTION: 256 \V ALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "A" ON AN ALTAlACSM LAND TITLE SURVEY DATED NOVEMBER 13,
1998, PREPARED BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO, 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY OF THIRD STREET (R/W V ARlES)
AND WALKER STREET (R/W V ARlES) AND CONTINUING EAST ALONG THE SOUTH
RIGHT OF WAY OF WALKER STREET 54,39 FEET TO A #4 REBAR SET; THENCE
TURNING A.1'ID CONTINUING SOUTH 21 DEGREES 44 MINUTES 19 SECONDS WEST A
DISTANCE OF 1,90 FEET TO A #4 REBAR SET; THENCE CONTINUING EAST ALONG
12
F :"Documcnts\P RC\whitc oaklLEGA L DESCRI PTIONS.COi\'I13IN E4.doc
THE SOUTH RIGHT OF WAY OF WALKER STREET 90.40 FEET TO A #4 REBAR SET
AND THE TRUE POINT OF BEG~'NING, THENCE TURt"ITNG AND CONTINUING
ALONG THE SOUTH RIGHT OF WAY OF WALKER STREET SOUTH 66 DEGREES 37
MINUTES 20 SECONDS EAST A DISTAi'\JCE OF 29.70 FEET TO A #5 REBAR FOUND;
THENCE TURt"ITNG A1'ID CONTINuING ALONG THE LINE OF NIF HOLLAND SOUTH
23 DEGREES 41 MINUTES 35 SECONDS WEST A DISTANCE OF 135,12 FEET TO A #4
REBAR SET; THENCE TURt"ITNG ,-\i'ID CONTINUING ALONG THE LINE OF NIF
WARREN NORTH 66 DEGREES 21 MINUTES 57 SECONDS WEST A DISTA.l"ICE OF
29.70 FEET TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE
LINE OF 260 WALKER STREET NORTH 23 DEGREES 41 MINUTES 36 SECONDS EAST
A DISTAl'\JCE OF 134,99 FEET TO THE TRUE POINT OF BEGINNING AND
CONTAINING 0,09 ACRES (4,012.24 SQUARE FEET)
LEGAL DESCRIPTION: 614 THIRD STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "E" ON AN ALTAlACSM LAND TITLE SURVEY DATED NOVEMBER 13,
1998, PREPARED BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO, 2662, AND HAVING THE
FOLLOWING METES AND BOlThTDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY OF THIRD STREET (R/W V ARIES)
AND WALKER STREET (R/W V ARIES) AND CONTINUING SOUTH ALONG THE EAST
RIGHT OF WAY OF THIRD STREET 136.60 FEET TO A #4 REBAR SET; THENCE
TURNING AND CONTINUING SOUTH 66 DEGREES 26 MINUTES 02 SECONDS EAST A
DISTANCE OF 1,93 FEET TO A #4 REBAR SET AND THE TRUE POINT OF BEGINNING;
THENCE TURNING AND CONTINUING ALONG THE LINE OF 608 AND 610 THIRD
STREET AND 264 WALKER STREET SOUTH 66 DEGREES 26 MINUTES 02 SECONDS
EAST A DISTANCE OF 52.56 FEET TO A #4 REBAR SET; THENCE TURNING AND
CONTINUING ALONG THE LINE OF 262 WALKER STREET SOUTH 66 DEGREES 26
MINUTES 23 SECONDS EAST A DISTANCE OF 46.35 FEET TO A #4 REBAR SET;
THENCE TURNING AND CONTIl'-HJING ALONG THE LINE OF 260 WALKER STREET
SOUTH 66 DEGREES 26 MINUTES 22 SECONDS EAST A DISTANCE OF 31.36 FEET TO
A #4 REBAR SET; THENCE TURi'HNG Al'ID CONTINUING ALONG THE LINE OF NIF
WARREN SOUTH 24 DEGREES 01 MINUTE 25 SECONDS WEST A DISTANCE OF 40.08
FEET TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE
OF NIF PERDUE NORTH 66 DEGREES 24 MINUTES 09 SECONDS WEST A DISTAl'-JCE
OF 130.06 FEET TO A #5 REBAR FOUND; THENCE TURt'\J'ING Al'ID CONTINUING
ALONG THE EAST RIGHT OF WAY OF THIRD STREET NORTH 23 DEGREES 43
MINUTES 55 SECONDS EAST A DIST Ai'\JCE OF 40.00 FEET TO THE TRUE POINT OF
BEG~ING Al'ID CONTAINING 0.12 ACRES (5,211.34 SQUARE FEET).
13
f:\Documcnis,PRC\whiIC oak\LEGAL DESCRIPTIO'SCOMI3INE4uoc
LEGAL DESCRIPTION: 209 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAl'ID L YING AL~ BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AL'ID DESIGNATED
AS TRACT "D" ON At'\T ALTNACSM LAND TITLE SURVEY DATED NOVEMBER 5,
1998, PREPARED BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M,
HARDY, GEORGIA REGISTERED LA,..l'\JTI SURVEYOR NO. 2662, AND HAVING THE
FOLLO\VING METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT OF WAY OF 2ND STREET (R/W VARIES)
,~'ID ELLIS STREET (R/W V ARIES) AND CONTINUING WEST ALONG ELLIS STREET
99 FEET :t TO A 3/4 INCH CRIMPED TOP FOUND AND THE TRUE POINT OF
BEGINNING; THENCE TURt'\TING At'ID CONTINUING ALONG THE NORTH RIGHT OF
WAY OF ELLIS STREET NORTH 66 DEGREES 00 MINUTES 00 SECONDS WEST A
DISTANCE OF 50,03 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF 211 AND 213 ELLIS STREET NORTH 24 DEGREES
25 MINUTES 36 SECONDS EAST A DISTANCE OF 118.99 FEET TO A #5 REBAR
FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE N/F ANTHONY
AND N/F HERRINGTON SOUTH 65 DEGREES 58 MINUTES 26 SECONDS EAST A
DISTANCE OF 49.97 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF N/F AGOST AS SOUTH 24 DEGREES 23 MINUTES
45 SECONDS WEST A DISTANCE OF 118.97 FEET TO THE TRUE POINT OF
BEGINNING AND CONTAINING 0.14 ACRES (5,948.87 SQUARE FEET).
LEGAL DESCRIPTION 211 & 213 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "C" ON AN ALTNACSM LAL'ID TITLE SURVEY DATED NOVEMBER 5,
1998, PREPARED BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT OF WAY OF 2ND STREET (R/W V ARIES)
AND ELLIS STREET (R/W V ARIES) AND CONTINUING WEST ALONG ELLIS STREET
149,03 FEET:t TO A #5 REBAR FOUND AND THE TRUE POINT OF BEGINNING;
THENCE TURNING AND CONTINUING ALONG THE NORTH RIGHT OF WAY OF
ELLIS STREET NORTH 65 DEGREES 58 MINUTES 22 SECONDS WEST A DISTANCE OF
53,55 FEET TO A #5 REBAR FOUND; THENCE TUR.l'\TING AND CONTINUING ALONG
THE LINE OF 215 ELLIS STREET NORTH 24 DEGRES 27 MINUTES 11 SECONDS EAST
A DIST At'\TCE OF 119,22 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF N/F SPRADLEY AND N/F ANTHONY SOUTH 65
DEGREES 43 MINUTES 26 SECONDS EAST A DISTANCE OF 53.50 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF 209
ELLIS STREET SOUTH 24 DEGREES 25 MINUTES 36 SECONDS WEST A DISTANCE OF
14
f\Documents\PRC\white oak\LEGAL DESCRIPTIONS,COr-.1I3INE4.doc
118.99 FEET TO THE TRUE POINT OF BEGINNING AND CONTAINING 0.15 ACRES
(6,375.26 SQUARE FEET).
LEGAL DESCRIPTION: 215 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAl'ID LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN At'ID DESIGNATED
AS TRACT "B" ON AN ALTAJACSM LAND TITLE SURVEY DATED NOVEJ'vlBER 5,
1998, PREPARED BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO, 2662, At'ID HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
'BEGINNING AT THE NORTHWEST RIGHT OF WAY OF 2ND STREET (R/W VARIES)
~ND ELLIS STREET (RJW V ARIES) AND CONTINUING WEST 202.58 FEET :t TO A #5
REBAR FOUND AND THE TRUE POINT OF BEGINNING; THENCE TURNING AND
CONTINUING ALONG THE NORTH RIGHT OF WAY OF ELLIS STREET NORTH 65
DEGREES 57 MINUTES 17 SECONDS "VEST A DISTANCE OF 50,11 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF 219
AND 221 ELLIS STREET NORTH 24 DEGREES 45 MINUTES 08 SECONDS EAST A
DISTANCE OF 134.87 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIF le. At"IDERSON, JR., SOUTH 66 DEGREES 15
MINUTES 51 SECONDS EAST A DISTANCE OF 49,12 FEET TO A #5 REBAR FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF NIF SPRADLEY SOUTH
23 DEGREES 23 MINUTES 39 SECONDS "VEST A DISTANCE OF 15.91 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF 211
AND 213 ELLIS STREET SOUTH 24 DEGREES 27 MINUTES 11 SECONDS "VEST A
DISTANCE OF 119,22 FEET TO THE TRUE POINT OF BEGINNING At'ID CONTAINING
0,15 ACRES (6,714.64 SQUARE FEET).
LEGAL DESCRIPTION: 219 & 221 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "A" ON AN ALTAJACSM LAND TITLE SURVEY DATED NOVEMBER 5,
1998, PREPARED BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, At'ID HAVING THE
FOLLOWING METES At"ID BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT OF WAY OF 2ND STREET (RJW V ARIES)
At"ID ELLIS STREET (R./W VARIES) AND CONTINUING WEST 252.69 FEET :t TO A #5
REBAR FOUND At'ID THE TRUE POINT OF BEGINNING; THENCE TURNING AND
CONTINUING ALONG THE NORTH RIGHT OF WAY OF ELLIS STREET NORTH 65
DEGREES 59 MINUTES 23 SECONDS WEST A DISTANCE OF 62,76 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F
15
F:\Documcnts\PRC'.whitc <Jak\LEGAL DESCRJPTIONS.COMBINE.j,uoc
DO\VNTOWN AUGUSTA, INe. NORTH 24 DEGREES 39 MINUTES 54 SECONDS EAST
A DISTAi'\JCE OF 133,26 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIF MCGAHEE AND NIF DOWNTOWN
AUGUSTA, INe. SOUTH 67 DEGREES 27 MINUTES 09 SECONDS EAST A DISTANCE
OF 63.00 FEET TO A #5 REBAR FOU0JTI; THENCE TURNING AND CONTINUING
ALONG THE LINE OF 215 ELLIS STREET SOUTH 24 DEGREES 45 MINUTES 08
SECONDS WEST A DISTANCE OF 134.87 FEET TO THE TRUE POINT OF BEGINNING
Al'-ID CONTAINING 0.19 ACRES (8,426,94 SQUARE FEET),
LEGAL DESCRIPTION: 319 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY DATED NOVEMBER 9,1998, PREPARED
BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M, HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO, 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT OF WAY OF 3RD STREET (R/W VARIES)
AND ELLIS STREET (R/W V ARIES) AND CONTINUING WEST 287.99 FEET:t TO A 1/2
INCH OPEN TOP FOUND AND THE TRUE POINT OF BEGINNING; THENCE TURNING
AND CONTINUING ALONG THE NORTH RIGHT OF WAY OF ELLIS STREET NORTH
66 DEGREES 07 MINUTES 03 SECONDS WEST A DISTANCE OF 40.82 FEET TO A P.K.
NAIL FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF 321 ELLIS
STREET NORTH 25 DEGREES 02 MINUTES 39 SECONDS EAST A DISTANCE OF 132.25
FEET TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE
OF NIF OLDE TOWN PROPERTIES SOUTH 66 DEGREES 15 MINUTES 48 SECONDS
EAST A DISTANCE OF 32.17 FEET TO A #4 REBAR SET; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIF UPTON SOUTH 62 DEGREES 02 MINUTES 56
SECONDS EAST A DISTANCE OF 8.55 FEET TO A #4 REBAR FOUND SET; THENCE
TURNING AND CONTINUING ALONG THE LINE OF NIF HUDSON SOUTH 24
DEGREES 59 MINUTES 42 SECONDS WEST A DISTANCE OF 131.72 FEET TO THE
TRUE POINT OF BEGINNING AND CONTAINING 0.12 ACRES (5,389.41 SQUARE
FEET),
LEGAL DESCRIPTION: 323 AND 323 1/2 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA,.BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAJACSM LAND TITLE SURVEY DATED NOVEMBER 9,1998, PREPARED
BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT OF WAY OF 3RD STREET (R/W V ARIES)
AND ELLIS STREET (R/W V ARIES) AND CONTINUING WEST 364.79 FEET :t TO A 3/4
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INCH CRIMPED TOP FOUND AND THE POINT OF BEGINNING; THENCE TURNING
AND CONTINUING ALONG THE NORTH RIGHT OF WAY OF ELLIS STREET NORTH
65 DEGREES 58 MINUTES 54 SECONDS WEST A DISTANCE OF 36.00 FEET TO A #4
REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF 325 AND
327 ELLIS STREET NORTH 25 DEGREES 08 MINUTES 36 SECONDS EAST A DISTANCE
OF 112.89 FEET TO A 3/4INCH CRIMPED TOP FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIP CROSS NORTH 24 DEGREES 09 MINUTES 17
SECONDS EAST A DISTANCE OF 19.28 FEET TO A 3/4 INCH CRIMPED TOP FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP DEVANEY SOUTH
66 DEGREES 32 MINUTES 11 SECONDS EAST A DISTANCE OF 36.02 FEET TO A 3/4
INCH CRIMPED TOP FOUND; THENCE TURNING AND CONTINUING ALONG THE
LINE OF 321 ELLIS STREET SOUTH 25 DEGREES 00 MINUTES 12 SECONDS WEST A
DISTANCE OF 132.51 FEET TO THE TRUE POINT OF BEGINNING AND CONTAINING
0.11 ACRES (4,745.59 SQUARE FEET).
LEGAL DESCRIPTION: 325 & 327 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAJACSM LAND TITLE SURVEY DATED NOVEMBER 9,1998, PREPARED
BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HA VING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT OF WAY OF 3RD STREET (RIW V ARlES)
AND ELLIS STREET (RIW V ARIES) AND CONTINUING WEST 400.79 FEET:t TO A #4
REBAR SET A.NJj THE TRUE POINT OF BEGINNING; THENCE TURNING AND
CONTINUING ALONG THE NORTH RIGHT OF WAY OF ELLIS STREET NORTH 65
DEGREES 58 MINUTES 54 SECONDS WEST A DISTANCE OF 47.00 FEET TO A #4
REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP
CALDWELL NORTH 24 DEGREES 00 MINUTES 08 SECONDS EAST A DISTANCE OF
112.97 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG
THE LINE OF NIP CROSS SOUTH 65 DEGREES 51 MINUTES 58 SECONDS EAST A
DISTANCE OF 49.25 FEET TOA 3/4 INCH CRIMPED TOP FOUND; THENCE TURNING.
AND CONTINUING ALONG THE LINE OF 323 AND 323 1/2 ELLIS STREET SOUTH 25
DEGREES 08 MINUTES 36 SECONDS WESTA DISTANCE OF 112.89 FEET TO THE
TRUE POINT OF BEGINNING AND CONTAINING 0.12 ACRES (5,434.13 SQUARE
FEET).
LEGAL DESCRIPTION: 229'ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY DATED OCTOBER 28,1998, PREPARED
BY W,R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY,
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GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT OF WAY OF 2ND STREET (R/W V ARIES)
AND ELLIS STREET (R/W V ARIES) AND CONTINUING WEST ALONG THE NORTH
RIGHT OF WAY OF ELLIS STREET 482.85 FEET :t TO A #5 REBAR FOUND AND THE
TRUE POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE
NORTH RIGHT OF WAY OF ELLIS STREET NORTH 66 DEGREES 04 MINUTES 37
SECONDS WEST A DISTANCE OF 39.47 FEET TO A 1 INCH CRIMPED TOP FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF DOWNTOWN
AUGUSTA, INC. NORTH 24 DEGREES 12 MINUTES 56 SECONDS EAST A DISTANCE
OF 101.67 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING
ALONG THE LINE OF DOWNTOWN AUGUSTA, INC. SOUTH 64 DEGREES 35
MINUTES 12 SECONDS EAST A DISTANCE OF 40.87 FEET TO A #5 REBAR FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF NIF BIRD SOUTH 25
DEGREES 00 MINUTES 25 SECONDS WEST A DISTANCE OF 100.63 FEET TO THE
TRUE POINT OF BEGINNING AND CONTAINING 0.09 ACRES (4,062.79 SQUARE
FEET).
LEGAL DESCRIPTION: 104-106 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTA/ACSM LAND TITLE SURVEY DATED NOVEMBER 4, 1998, PREPARED
BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHWEST RIGHT OF WAY OF 1 ST STREET (R/W V ARIES)
AND ELLIS STREET (RfW VARIES) BEING THE TRUE POINT OF BEGINNING AND
. CONTINUING ALONG THE WEST RIGHT OF WAY OF 1 ST STREET SOUTH 24
DEGREES 44 MINUTES 10 SECONDS WEST A DISTANCE OF 138.67 FEET TO A #5
REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF NIF DAVIS
AND N/F CARMAIN NORTH 65 DEGREES 35 MINUTES 29 SECONDS WEST A
DISTANCE OF 84.95 FEET TO A 3/4 INCH CRIMPED TOP FOUND; THENCE TURNING
AND CONTINUING ALONG THE LINE OF NIF TINLEY AND NIF NEWSOME NORTH 24
DEGREES ~3 MINUTES 14 SECONDS EAST A DISTANCE OF 138.06 FEET TO A 3/4
INCH CRIMPED TOP FOUND; THENCE TURNING AND CONTINUING ALONG THE
SOUTH RIGHT OF WAY OF ELLIS STREET SOUTH 66 DEGREES 00 MINUTES 00
SECONDS EAST A DISTANCE OF 84.99 FEET TO THE TRUE POINT OF BEGINNING
AND CONTAINING 0.27 ACRES (11,756.37 SQUARE FEET).
LEGAL DESCRIPTION: 222 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
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ON AN ALTA/ACSM LAND TITLE SURVEY DATED OCTOBER 29, 1998, PREPARED
BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHWEST RIGHT OF WAY OF 2ND STREET (R/W V ARIES)
AND ELLIS STREET (RIW V ARIES) AND CONTINUING WEST ALONG ELLIS STREET
348,65 FEET :t TO A RAILROAD SPIKE FOUND AND THE TRUE POINT OF
BEGINNING; THENCE TURNING AND CONTINUING ALONG THE LINE OF NfF
WILLIAMS SOUTH 24 DEGREES 26 MINUTES 19 SECONDS WEST A DISTANCE OF
107.86 FEET TO A 3/4 OPEN TOP FOUND; THENCE TURNING AND CONTINUING
ALONG THE LINE OF NfF DEMEDICIS NORTH 66 DEGREES 12 MINUTES 45 SECONDS
WEST A DISTANCE OF 49.61 FEET TO A 1/2 INCH OPEN TOP FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF NfF BAILEY NORTH 24 DEGREES
17 MINUTES 42 SECONDS EAST A DISTANCE OF 108.02 FEET TO A #5 REBAR
FOUND; THENCE TURNING AND CONTINUING ALONG THE SOUTH RIGHT OF WAY
OF ELLIS STREET SOUTH 66 DEGREES 01 MINUTE 14 SECONDS EAST A DISTANCE
OF 49.88 FEET TO THE TRUE POINT OF BEGINNING CONTAINING 0.12 ACRES
(5,369.21 SQUARE FEET).
LEGAL DESCRIPTION: 244 WALKER STREET
ALL THAT LOT OR PARCEL OF LAND, WITH IMPROVEMENTS THEREON, SITUATE,
LYING AND BEING IN THE CITY OF AUGUSTA, RICHMOND COUNTY, GEORGIA,
FRONTING 50 FEET, MORE OR LESS, ON THE SOUTH SIDE OF WALKER STREET
BETWEEN HOUSTON (SECOND) AND LINCOLN (THIRD) STREETS AND EXTENDING
BACK IN A SOUTHERLY DIRECTION BETWEEN PARALLEL LINES A DISTANCE OF
132 FEET, MORE OR LESS, AND BEING KNOWN AND DESIGNATED AS LOT 115 ON A
PLAT RECORDED IN THE OFFICE OF THE CLERK. OF SUPERIOR COURT OF
RICHMOND COUNTY, GEORGIA, IN REALTY BOOK 2F, PAGES 252 - 253, AND
BOUNDED AS FOLLOWS: ON THE NORTH, BY WALKER STREET; ON THE EAST, BY
LOT 114 OF SAID PLAT; ON THE SOUTH, BY LOT NOW OR FORMERLY OF THE
ESTATE OF W.T. DAVIDSON; AND ON THE WEST, BY LOT 116 OF SAID PLAT.
SAID PROPERTY IS KNOWN AND DESIGNATED AS 244 WALKER STREET
ACCORDING TO THE SYSTEM OF STREET NUMBERING CURRENTLY IN USE IN
AUGUSTA, RICHMOND COUNTY, GEORGIA.
LEGAL DESCRIPTION: 236 AND 238 WALKER STREET
ALL THAT LOT OR PARCEL OF LAND, WITH IMPROVEMENTS THEREON, SITUATE,
LYING AND BEING IN THE CITY OF AUGUST A, RICHMOND COUNTY, GEORGIA, ON
THE SOUTH SIDE OF WALKER STREET, BETWEEN HOUSTON (SECOND) STREET
AND LINCOLN (THIRD) STREETS, HAVING A FRONT AGE ON SAID WALKER STREET
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OF 40 FEET, MORE OR LESS, AND EXTENDING BACK IN A SOUTHERLY DIRECTION
OF EVEN WIDTH A DISTANCE OF 132 FEET, MORE OR LESS, AND BEING BOUNDED:
ON THE NORTH, BY WALKER STREET; ON THE EAST, BY LOT NOW OR FORMERLY
OF MARY W. TERRILL; ON THE SOUTH, BY PROPERTY NOW OR FORMERLY OF H.S,
JONES; AND ON THE WEST, BY PROPERTY NOW OR FORMERLY OF EARL A.
ROOKS. SAID LOT BEING FORMERLY DESIGNATED AS LOT NO.8, BLOCK 4, WARD
1 ON THE PLAT BOOK OF THE CITY COUNCIL OF AUGUSTA, BUT IS NOW
DESIGNATED AS LOT NO.8, BLOCK 41, BLOCK A OF THE PRESENT CITY COUNCIL
OF AUGUSTA PLAT BOOK, AND BEING A PORTION OF THE PROPERTY CONVEYED
TO MRS. THELMA STEPHENS CORMAN, NKJ A MRS. THELMA STEPHENS KORMAN
BY VIRTUE OF A YEAR'S SUPPORT FROM THE ESTATE OF ALEX CORMAN NKJA
ALEX KORMAN.
A MORE RECENT PLAT PREPARED BY TOOLE SURVEYING COMPANY FOR OLDE
TOWN PROPERTIES I, DATED MARCH 20, 1989 IS RECORDED IN THE OFFICE OF THE
CLERK OF SUPERIOR COURT OF RICHMOND COUNTY, GEORGIA, IN REALTY REEL
307, PAGE 714.
SAID PROPERTY IS KNOWN AND DESIGNATED AS 236-238 WALKER STREET
ACCORDING TO THE SYSTEM OF STREET NUMBERING CURRENTLY IN USE IN-
AUGUST A, RICHMOND COUNTY, GEORGIA.
LEGAL DESCRIPTION: 212 ELLIS STREET
ALL THAT LOT OR PARCEL OF LAND, WITH IMPROVEMENTS THEREON, SITUATE,
LYING AND BEING IN THE CITY OF AUGUST A, RICHMOND COUNTY, GEORGIA,
BEGINNING AT A POINT ON THE SOUTH SIDE OF ELLIS STREET, WHICH POINT IS
150 FEET FROM THE INTERSECTION OF THE RIGHTS OF WAY OF SECOND STREET
AND ELLIS STREET AT THE SOUTHWESTERNMOST POINT OF INTERSECTION;
THENCE TURNING SOUTH 25 DEGREES 1 MINUTE WEST AND RUNNING A
DISTANCE OF 135.25 FEET TO AN IRON PIPE; THENCE, TURNING NORTH 65
DEGREES 30 MINUTES WEST AND RUNNING A DISTANCE OF 48.7 FEET; THENCE,
TURNING NORTH 24 DEGREES 30 MINUTES EAST AND RUNNING A DISTANCE OF
24 FEET; THENCE TURNING SOUTH 65 DEGREES 30 MINUTES EAST AND RUNNING
A DISTANCE OF 3 FEET; THENCE, TURNING NORTH 24 DEGREES 30 MINUTES EAST
AND RUNNING A DISTANCE OF 111.25 FEET TO A NAIL AND CAP IN THE
CONCRETE ON THE SOUTH SIDE OF ELLIS STREET; THENCE TURNING SOUTH 65
DEGREES 30 MINUTES EAST AND RUNNING A DISTANCE OF 47 FEET ALONG THE
SOUTH SIDE OF ELLIS STREET TO THE POINT OF BEGINNING.
SAID PROPERTY IS DELINEATED ON A CERTAIN PLAT OF THE SAME PREPARED
BY BOBBY G. PRICE, REGISTERED .LAND SURVEYOR, A COPY OF WHICH IS
A TT ACHED TO AND INCORPORATED IN AN EXECUTOR'S DEED CONVEYING SAID
PROPERTY TO DOWNTOWN AUGUSTA, INC. DATED SEPTEMBER 15, 1977 AND
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RECORDED IN THE OFFICE OF THE CLERK OF SUPERIOR COURT OF RICHMOND
COUNTY, GEORGIA, IN REALTY REEL 82, PAGES 459-461.
SAID PROPERTY IS THE SAME PROPERTY WHICH WAS CONVEYED TO GORDON W.
CHAMBERS BY WARRANTY DEED FROM JULIA R. COHEN DATED AUGUST 28,1993
AND RECORDED IN REALTY BOOK 12Q, PAGE 228, IN THE CLERK'S OFFICE.
LEGAL DESCRIPTION 214 - 216 ELLIS STREET
ALL THAT LOT OR PARCEL OF LAND WITH IMPROVEMENTS THEREON, SITUATE.
LYING AND BEING IN THE CITY OF AUGUSTA, RICHMOND COUNTY, GEORGIA,
FRONTING 50 FEET MORE OR LESS ON THE SOUTH SIDE OF ELLIS STREET
BETWEEN HOUSTON (SECOND) AND LINCOLN (THIRD) STREETS, AND EXTENDING
BACK OF EVEN WIDTH 110 FEET, MORE OR LESS, AND BEING BOUNDED: ON THE
NORTH BY ELLIS STREET, ON THE EAST BY LOT NOW OR FORMERLY OF
CHAMBERS ON THE SOUTH BY LOT NOW OR FORMERLY OF MCCARRELL AND ON
THE WEST BY LOT NOW OR FORMERLY OF HOWARD ESTATE.
ALSO ALL THAT LOT OR PARCEL OF LAND WITH IMPROVEMENTS THEREON
SITUATE, LYING AND BEING IN THE CITY OF AUGUSTA, RICHMOND COUNTY, .
GEORGIA, FRONTING 3 FEET ON THE SOUTH SIDE OF ELLIS STREET BETWEEN
HOUSTON (SECOND) AND LINCOLN (THIRD) STREETS AND EXTENDING BACK OF
EQUAL WIDTH 126 FEET AND BEING BOUNDED: ON THE NORTH BY ELLIS STREET,
ON THE EAST BY LOT NOW OR FORMERLY OF JULIA R. COHEN FROM WHICH THIS
STRIP WAS TAKEN ON THE SOUTH BY LOT NOW OR FORMERLY OF JULIA R.
COHEN AND ON THE WEST BY LOT NOT OR FORMERLY OF MATTIE M. SATCHER.
SAID PROPERTY IS KNOWN AND DESIGNATED AS 214-216 ELLIS STREET
ACCORDING TO THE SYSTEM OF STREET NUMBERING CURRENTLY IN USE IN
AUGUST A, RICHMOND COUNTY, GEORGIA.
PROPERTY HEREINABOVE DESCRIBED AS 212 ELLIS STREET AND 214-216 ELLIS
STREET BEING THE SAME PROPERTY AS MORE P ARTICULARL Y DESCRIBED ON
THAT CERTAIN ALTAlACSM LAND TITLE SURVEY DATED NOVEMBER 12, 1998,
PREPARED BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662 AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHWEST RIGHT OF WAY OF 2ND STREET (RIW V ARIES)
AND ELLIS STREET (R!W VARIES) AND CONTINUING WEST A DISTANCE OF 151.0
FEET :t TO A #5 REBAR FOUND AND THE TRUE POINT OF BEGINNING; THENCE
TURNING AND CONTINUING ALONG THE LINE OF NIP BROWN SOUTH 25 DEGREES
07 MINUTES 02 SECONDS WEST A DISTANCE OF 135.25 FEET TO A 1 1/2 INCH OPEN
TOP FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP
PHILLIPS NORTH 65 DEGREES 26 MINUTES 31 SECONDS WEST A DISTANCE OF
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48.70 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG
THE LINE OF NIP SWEAT NORTH 24 DEGREES 19 MINUTES 50 SECONDS EAST A
DISTANCE OF 23.94 FEET TO A #4 REBAR SET; THENCE CONTINUING ALONG THE
LINE OF NIP SWEAT NORTH 64 DEGREES 24 MINUTES 49 SECONDS WEST A
DISTANCE OF 49.31 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIP WALTON NORTH 23 DEGREES 53 MINUTES
54 SECONDS EAST A DISTANCE OF 109.38 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE SOUTHERN RIGHT -OF- WAY OF ELLIS
STREET SOUTH 66 DEGREES 02 MINUTES 11 SECONDS EAST A DISTANCE OF 100.67
FEET TO A #5 REBAR FOUND AND THE TRUE POINT OF BEGINNING AND
CONTAINING 0.28 ACRES (12,170.34 SQUARE FEET)
LEGAL DESCRIPTION 211 & 213 BROAD STREET
ALL THAT LOT OR PARCEL OF LAND, WITH IMPROVEMENTS THEREON, SITUATE,
LYING AND BEING IN THE CITY OF AUGUSTA, RICHMOND COUNTY, GEORGIA,
FRONTING 42 FEET, MORE OR LESS, ON THE NORTH SIDE OF BROAD STREET, AND
EXTENDING BACK BETWEEN PARALLEL LINES A DISTANCE OF 134 FEET, MORE
OR LESS, AND BEING DESIGNATED AS EXHIBIT "B" ON A PLAT ATTACHED TO AN
AWARD OF YEAR'S SUPPORT MADE TO MARY ALICE WISE FROM THE ESTATE OF
J. THOMAS WISE, APPEARING OF RECORD IN YEAR'S SUPPORT BOOK 2-J, PAGE 46,
IN THE OFFICE OF THE CLERK OF SUPERIOR COURT OF RICHMOND COUNTY,
GEORGIA, AND BEING BOUNDED: ON THE NORTH, BY PROPERTY NOW OR
FORMERLY OF T.F. BROADWATER; ON THE EAST, BY PROPERTY NOW OR
FORMERLY OF F.H. CASEY; ON THE SOUTH BY BROAD STREET; AND THE WEST,
BY PROPERTY NOW OR FORMERLY OF B.F. DAVIS.
SAID PROPERTY IS KNOWN AND DESIGNATED AT 211-213 BROAD STREET
ACCORDING TO THE SYSTEM OF STREET NUMBERING CURRENTLY IN USE IN
AUGUST A, RICHMOND COUNTY, GEORGIA.
LEGAL DESCRIPTION 107 ELLIS STREET
ALL THAT LOT OR PARCEL OF LAND. WITH IMPROVEMENTS THEREON, SITUATE,
LYING AND BEING IN THE CITY OF AUGUSTA, RICHMOND COUNTY, GEORGIA, AT
THE NORTHEAST CORNER OF ELLIS AND FORSYTH STREETS, HAVING A FRONT
OF 40 FEET ON ELLIS STREET AND RUNNING BACK OF EVEN WIDTH 98 FEET,
MORE OR LESS, AND BEING BOUNDED AS FOLLOWS: ON THE NORTH, BY LOT,
NOW OR FORMERLY, OF MRS. KATE V. O'NEALL; ON THE EAST, BY PROPERTY,
NOW OR FORMERLY, OF CHARLES D. CARR; ON THE SOUTH, BY ELLIS STREET;
AND ON THE WEST, BY FORSYTHE STREET.
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SAID PROPERTY IS KNOWN AND DESIGNATED AS 107 ELLIS STREET ACCORDING
TO THE SYSTEM OF NUMBERING CURRENTLY IN USE IN AUGUSTA, RICHMOND
COUNTY, GEORGIA.
LEGAL DESCRIPTION 133 BROAD STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY, DATED OCTOBER 28, 1998, LAST
REVISED DECEMBER 7,1998, PREPARED BY W.R. TOOLE ENGINEERS, INC., AND
CERTIFIED BY STEVEN M. HARDY, GEORGIA REGISTERED LAND SURVEYOR NO.
2662 AND HAVING THE FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHEAS,T RIGHT -OF- WAY OF 2ND STREET (R!W V ARIES)
AND BROAD STREET (R!W V ARIES) AND CONTINUING EAST ALONG THE NORTH
RIGHT-OF-WAY OF BROAD STREET 40 FEET::!: TO A #4 REBAR FOUND AND THE
POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE LINE OF
N/F IMAN, INe. & N/F BAIN NORTH 24 DEGREES 00 MINUTES 44 SECONDS EAST A
DISTANCE OF 137.92 FEET TO A POINT; THENCE TURNING AND CONTINUING .
ALONG THE LINE OF NIP DOWNTOWN AUGUSTA, INC. SOUTH 67 DEGREES 13 .
MNUTES 30 SECONDS EAST A DISTANCE OF 47.33 FEET TO A #5 REBAR FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP SW ANCY SOUTH 22
DEGREES 54 MINUTES 45 SECONDS WEST A DISTANCE OF 137.97 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE NORTH RIGHT-
OF-WAY OF BROAD STREET NORTH 67 DEGREES 07 MINUTES 49 SECONDS WEST A
DISTANCE OF 49.99 FEET TO THE POINT OF BEGINNING.
LEGAL DESCRIPTION 303 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY, DATED 11/9/98, PREPARED BY W.R.
TOOLE ENGINEERS, INe., AND CERTIFIED BY STEVEN M. HARDY, GEORGIA
REGISTERED LAND SURVEYOR NO. 2662 AND HAVING THE FOLLOWING METES
AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT-OF-WAY OF 3RD STREET (R!W VARIES)
AND ELLIS STREET (RIW V ARIES) AND CONTINUING WEST ALONG THE RIGHT OF
WAY OF ELLIS STREET 44.0 FEET::!: TO A 3/4 INCH OPEN TOP FOUND AND THE
POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE NORTH
RIGHT-OF-WAY OF ELLIS STREET NORTH 66 DEGREES 00 MINUTES 00 SECONDS
WEST A DISTANCE Of 40.31 FEET TO A #4 REBAR SET; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIP OLDE TOWN PROPERTIES NORTH 24
DEGREES 36 MINUTES 21 SECONDS EAST A DISTANCE OF 132.52 FEET TO A 5/8
INCH OPEN TOP FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE
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OF N/F BROWN SOUTH 65 DEGREES 40 MINUTES 17 SECONDS EAST A DISTANCE
OF 40.48 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING
ALONG THE LINE OF NIP DOWNTOWN AUGUST A, INC. SOUTB 24 DEGREES 40
MINUTES 52 SECONDS WEST A DISTANCE OF 132.29 FEET TO THE POINT OF
BEGINNING AND CONTAINING 0.12 ACRES (5,347.50 SQUARE FEET).
LEGAL DESCRIPTION 240 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "B" ON AN ALTAlACSM LAND TITLE SURVEY, DATED 11/4/98,
PREP ARED BY W.R. TOOLE ENGINEERS, INe., AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662 AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT-OF-WAY OF 3RD STREET (RIW VARIES)
AND ELLIS STREET (R!W V ARIES) AND CONTINUING EAST ALONG THE SOUTH
RIGHT-OF-WAY OF ELLIS STREET 126.98 FEET::!: TO A #5 REBARFOUND AND THE
POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE SOUTH
RIGHT-OF-WAY OF ELLIS STREET SOUTH 65 DEGREES 58 MINUTES 12 SECONDS
EAST A DISTANCE OF 40.02 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF 238 ELLIS STREET SOUTH 23 DEGREES 13
MINUTES 03 SECONDS WEST A DISTANCE OF 133.97 FEET TO A #5 REBAR FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F DAVENPORT & NIP
BUCKLEY NORTH 64 DEGREES 28 MINUTES 07 SECONDS WEST A DISTANCE OF.
40.62 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG
THE LINE OF 246 ELLIS STREET NORTH 23 DEGREES 27 MINUTES 57 SECONDS
EAST A DISTANCE OF 132.90 FEET TO THE POINT OF BEGINNING AND
CONTAINING 0.12 ACRES (5,377.60 SQUARE FEET).
LEGAL DESCRIPTION 238 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "A" ON AN ALTAlACSM LAND TIJ:LE SURVEY, DATED 11/4/98,
PREPARED B'( W.R. TOOLE ENGINEERS, INe., AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662 AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT-OF-WAY OF 3RD STREET (RIW VARIES)
AND ELLIS STREET (R/W VARIES) AND CONTINUING EAST ALONG THE SOUTH
RIGHT -OF - WAY OF ELLIS STREET 167.00 FEET::!: TO A #5 REBAR FOUND AND THE
POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE SOUTH
RIGHT-OF-WAY OF ELLIS STREET SOUTH 66 DEGREES 02 MINUTES 19 SECONDS
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EAST A DISTANCE OF 59.85 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIP BOLD SOUTH 24 DEGREES 26 MINUTES 51
SECONDS WEST A DISTANCE OF 134.34 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF NIP HAYES & NIP DAVENPORT
NORTH 65 DEGREES 39 MINUTES 41 SECONDS WEST A DISTANCE OF 56.98 FEET TO
A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF
240 ELLIS STREET NORTH 23 DEGREES 13 MINUTES 03 SECONDS EAST A DISTANCE
OF 133.97 FEET TO THE POINT OF BEGINNING AND CONTAINING 0.18 ACRES
(7,836.54 SQUARE FEET).
LEGAL DESCRIPTION 403 AND 405 WALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY, DATED 11/6/98, PREPARED BY W.R.
TOOLE ENGINEERS, INe., AND CERTIFIED BY STEVEN M. HARDY, GEORGIA
REGISTERED LAND SURVEYOR NO. 2662 AND HA VING THE FOLLOWING METES
AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT-OF-WAY OF 4TH STREET (RIW VARIES)
AND WALKER STREET (RIWVARIES) AT AP.K. NAIL FOUND THE POINT OF
BEGINNING; THENCE TURNING AND CONTINUING ALONG THE NORTH RIGHT -OF-
WAY OF WALKER STREET NORTH 64 DEGREES 56 MINUTES 55 SECONDS WEST A
DISTANCE OF 100.28 FEET TO A #4 REBAR SET; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIP ZARGE NORTH 24 DEGREES 19 MINUTES 28
SECONDS EAST A DISTANCE OF 90.16 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF NIP NAOMI SOUTH 64 DEGREES
34 MINUTES 02 SECONDS EAST A DISTANCE OF 100.20 FEET TO A POINT; THENCE
TURNING AND CONTINUING ALONG THE WEST RIGHT -OF- WAY OF 4TH STREET
SOUTH 24 DEGREES 15 MINUTES 59 SECONDS WEST A DISTANCE OF 89.49 FEET TO
THE POINT-OF-BEGINNING AND CONTAINING 0.21 ACRES (9,002.57 SQUARE FEET).
LEGAL DESCRIPTION 246 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "C" ON AN ALTAlACSM LAND TITLE SURVEY DATED 11/4/98, PREPARED
BY W.R. TOOLE ENGINEERS, INC., AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662 AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT-OF - WAY OF 3RD STREET (RIW VARIES)
AND ELLIS STREET (R/W VARIES) 82 FEET::!: TO A #5 REBAR FOUND AND THE
POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE SOUTH
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RIGHT-OF-WAY OF ELLIS STREET SOUTH 66 DEGREES 03 MINUTES 40 SECONDS
EAST A DISTANCE OF 44.98 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF 240 ELLIS STREET SOUTH 23 DEGREES 27
MINUTES 57 SECONDS WEST A DISTANCE OF 132.90 FEET TO A #5 REBAR FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP BUCKLEY AND NIP
UPTON NORTH 63 DEGREES 21 MINUTES 26 SECONDS WEST A DISTANCE OF 47.75
FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE
LINE OF NIP DOWNTOWN AUGUSTA, INC. & N/F OSBORN MANURE FARM, INC.
NORTH 24 DEGREES 38 MINUTES 58 SECONDS EAST A DISTANCE OF 130.65 FEET
TO THE POINT OF BEGINNING AND CONTAINING 0.14 ACRES (6,106.09 SQUARE
FEET).
LEGAL DESCRIPTION: 202 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY DATED 10/9/98, PREPARED BY W. R.
TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M. HARDY, GEORGIA
REGISTERED LAND SURVEYOR NO. 2662 AND HAVING THE FOLLOWING METES
AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHWEST RIGHT -OF - WAY OF ELLIS STREET (RIW VARIES)
AND 2ND STREET (R!W VARIES) AT A #5 REBAR FOUND AND THE POINT OF
BEGINNING; THENCE TURNING AND CONTINUING ALONG THE WEST RIGHT -OF-
WAY OF 2ND STREET SOUTH 24 DEGREES 25 MINUTES 54 SECONDS WEST A
DISTANCE OF 71.83 FEET TO A 1/2 INCH OPEN TOP FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIP YORK & LLOYD NORTH 65 DEGREES 40
MINUTES 10 SECONDS WEST A DISTANCE OF 51.35 FEET TO A 1 INCH CRIMPED
TOP FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF 204 ELLIS
STREET NORTH 24 DEGREES 43 MINUTES 55 SECONDS EAST A DISTANCE OF 71.53
FEET TO A 60d NAIL FOUND; THENCE TURNING AND CONTINUING ALONG THE.
SOUTH RIGHT -OF- WAY OF ELLIS STREET SOUTH 66 DEGREES 00 MINUTES 00
SECONDS EAST A DISTANCE OF 50.98 FEET TO THE POINT OF BEGINNING AND
CONTAINING 0.08 ACRES (3,667.15 SQUARE FEET).
LEGAL DESCRIPTION: 204 ELLIS STREET
ALL THAT LOT OR PARCEL OF LAND, WITH IMPROVEMENTS THEREON, SITUATE,
LYING AND BEING IN THE CITY OF AUGUST A, RICHMOND COUNTY, GEORGIA, ON
THE SOUTH SIDE OF ELLIS STREET BETWEEN SECOND AND THIRD STREETS, AND
FRONTING 47 FEET ON THE SOUTH SIDE OF ELLIS STREET AND EXTENDING BACK
OF EVEN WIDTH 132 FEET, MORE OR LESS, TO A REAR WIDTH OF 47 FEET. THE
EASTERN BOUNDARY LINE OF SAID LOT AT ELLIS STREET IS LOCATED 50"FEET
WEST OF THE SOUTHWESTERN CORNER OF THE INTERSECTION OF ELLIS STREET
AND SECOND STREET. SAID PROPERTY IS BOUNDED AS FOLLOWS: ON THE
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NORTH, BY ELLIS STREET; ON THE EAST, BY PROPERTY NOW OR FORMERLY OF
BADGER; ON THE SOUTH, BY PROPERTY NOW OR FORMERLY OF MURPHEY; ON
THE WEST, BY PROPERTY NOW OR FORMERLY OF HARRISON.
SAID PROPERTY IS KNOWN AND DESIGNATED AS 204 ELLIS STREET ACCORDING
TO THE SYSTEM OF STREET NUMBERING CURRENTLY USED IN AUGUSTA,
RICHMOND COUNTY, GEORGIA.
LEGAL DESCRIPTION: 306 2ND STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY DATED NOVEMBER 5, 1998, LAST
REVISED DECEMBER 7,1998, PREPARED BY W. R. TOOLE ENGINEERS, INC., AND
CERTIFIED BY STEVEN M. HARDY, GEORGIA REGISTERED LAND SURVEYOR NO.
2662 AND HAVING THE FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT-OF-WAY OF ELLIS STREET (R!W VARIES)
AND 2ND STREET (R!W VARIES) AND CONTINUING SOUTH 39 FEET :t TO A #5
REBAR FOUND AND THE POINT OF BEGINNING; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIP PETTIGREW SOUTH 70 DEGREES 47
MINUTES 28 SECONDS EAST A DISTANCE OF 82.81 FEET TO A 1 1/2 INCH OPEN TOP
FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F RAMBO &
NIP WEATHERS SOUTH 19 DEGREES 27 MINUTES24 SECONDS WEST A DISTANCE
OF 43.62 FEET TO POINT; THENCE TURNING AND CONTINUING ALONG THE LINE
OF NIP WRIGHT NORTH 70 DEGREES 15 MINUTES 37 SECONDS WEST A DISTANCE
OF 19.31 FEET TO A POINT; THENCE TURNING AND CONTINUING SOUTH 18
DEGREES 57 MINUTES 16 SECONDS WEST A DISTANCE OF 4.58 FEET TO A POINT;
THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP WRIGHT NORTH 70
DEGREES 43 MINUTES 46 SECONDS WEST A DISTANCE OF 65.26 FEET TO A PUNCH
IN CONCRETE; THENCE TURNING AND CONTINUING ALONG THE EAST RIGHT-OF-
WAY OF 2ND STREET NORTH 21 DEGREES 31 MINUTES 05 SECONDS EAST A
DISTANCE OF 47.98 FEET TO THE POINT OF BEGINNING.
LEGAL DESCRIPTION: 515 3RD STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY DATED 11/4/98, PREPARED BY W. R.
TOOLE ENGINEERS, INC., AND CERTIFIED BY STEVEN M. HARDY, GEORGIA
REGISTERED LAND SURVEYOR NO. 2662 AND HAVING THE FOLLOWING METES
AND BOUNDS TO WIT:
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BEGINNING AT THE NORTHWEST RIGHT-OF-WAY OF WALKER STREET (RIW
VARIES) AND 3RD STREET (RIW VARIES) AND CONTINUING NORTH ALONG THE
WEST RIGHT-OF-WAY OF 3RD STREET 61.59 FEET:t TO A #4 REBAR SET THE POINT
OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP
FLANAGAN NORTH 66 DEGREES 25 MINUTES 27 SECONDS WEST A DISTANCE OF
73.64 FEET TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE
LINE OF NIP WIGGINS NORTH 23 DEGREES 44 MINUTES 48 SECONDS EAST A
DISTANCE OF 46.83 FEET TO A 5/8 INCH OPEN TOP FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIP RICHARDS SOUTH 65 DEGREES 55 MINUTES
31 SECONDS EAST A DISTANCE OF 73.39 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE WEST RIGHT -OF- WAY OF 3RD STREET
SOUTH 23 DEGREES 26 MINUTES 22 SECONDS WEST A DISTANCE OF 46.19 FEET TO
THE POINT OF BEGINNING AND CONTAINING 0.08 ACRES (3,419.07 SQUARE FEET).
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EXHIBIT B
PERMITTED TITLE EXCEPTIONS
1. Rights of tenants in possession
2. Joint Driveway Easement, recorded in Realty Reel 120, page 1498 of the Richmond
County, Georgia real estate records (the "Records"), relating to 256,258, and 260 Greene Street
3. Rights of others pursuant to joint driveway agreement, recorded in Realty Book 8-0,
page 500, as modified by agreement recorded in Realty Book 14-L, page 108 of the Records,
relating to 325-327 Ellis Street
4. Easement recorded in Realty Book 13-R, page 472 ofthe Records, relating to 219-221
Ellis Street
5. Rights of others pursuant to agreement recorded at Realty Book 38-R, page 3 ofthe
Records, relating to 303 Ellis Street
6. Easement recorded in Realty Book 21-B, page 165 of the Records, relating to 260
Reynolds Street
7. Easement recorded in Realty Book 13-Q, page 510 of the Records, relating to 403-405
Walker Street
8. Real estate taxes for 1999 and subsequent years to the extent not yet due and payable
EXHIBIT C
DESCRIPTION OF COLLATERAL
The "Collateral" is the following described property, whether such property is now
owned or created, entered into, or acquired in the future, including any additions, substitutions,
or replacements for any such property and any products or proceeds from any such property:
(1) All fixtures located on, attached, or affixed to the Property.
(2) All articles of personal property, including all furniture and furnishings affixed or
attached to, placed upon, or used in any way in connection with the use, enjoyment, occupancy,
or operation of the Property;
(3) All funds (including funds in any reserve relating to the Property required under the Loan
Agreement), accounts, instruments, accounts receivable, documents, general intangibles
(including trademarks, service marks, trade names, and symbols used in connection with the
Property) and notes or chattel paper arising from any transactions related to the Property
(collectively, the "General Intangib1es");
(4) All rents, royalties, issues, profits, revenue, income, and other benefits of the Property: or
arising from the use or enjoyment of it or from any lease, sublease, license, concession, or
occupancy agreement pertaining to it or arising from any of the General Intangibles, and all
leases, subleases, licenses, concessions, and occupancy agreements for the Property, including
cash or securities deposited to secure performance by the tenants, lessees, sub1essees, or
licensees, as applicable, of their obligations, whether the cash or securities are to be held until the
expiration of the terms of the leases, subleases, licenses, concessions, or occupancy agreements
or applied to one or more of the installments ofrent coming due before the expiration oftheir
terms;
(5) All building materials, supplies, and equipment located on the Property and all right, title,
and interest of Grantor in and to all architectural renderings, models, plans, specifications,
studies, and data relating to the Improvements;
(6) All contracts by Grantor relating to any part of the Property and all revenue, income, and
other benefits from them, including service contracts, maintenance contracts, construction
contracts, and management or operation contracts;
(7) All monetary deposits from Grantor to any public or private utility for utility service for
the Property and all right, title, and interest of Grantor in water taps, sewer taps, and other utility
services relating to the Property;
(8) All permits, licenses, franchises, certificates, and other rights and privileges obtained in
connection with the Property and all warranties and guaranties relating to the Improvements or to
any fixtures, equipment, furniture, furnishings, personal property, and any of their components or
installed on the Property;
2
(9) All records and books of account relating to the rental, operation, and rehabilitation or
construction of the Property;
(10) All policies of insurance Grantor is required to maintain pursuant to the Loan Agreement
or any of the other Loan Documents;
(11) All proceeds (including claims and demands for proceeds) from the voluntary or
involuntary conversion of any Collateral into cash or liquidated claims, including insurance
proceeds relating to the Property or any Collateral and condemnation awards; and
(12) All other or greater rights and interests of every nature in the Property or in its possession
or use and income from it.
3
EXHIBIT C
DESCRIPTION OF COLLATERAL
The "Collateral" is the following described property, whether such property is now
owned or created, entered into, or acquired in the future, including any additions,
substitutions, or replacements for any such property and any products or proceeds from
any such property:
(1) All fixtures located on, attached, or affixed to the Property,
(2) All articles of personal property, including all furniture and furnishings
affixed or attached to, placed upon, or used in any way in connection with the use,
enjoyment, occupancy, or operation of the Property;
(3) All funds (including funds in any reserve relating to the Property required
under the Loan Agreement), accounts, instruments, accounts receivable, documents,
general intangibles (including trademarks, service marks, trade names, and symbols used
in connection with the Property) and notes or chattel paper arising from any transactions
related to the Property (collectively, the "General Intangibles");
(4) All rents, royalties, issues, profits, revenue, income, and other benefits of the
Property or arising from the use or enjoyment of it or from any lease, sublease, license,
concession, or occupancy agreement pertaining to it or arising from any of the General
Intangibles, and all leases, subleases, licenses, concessions, and occupancy agreements for
the Property, including cash or securities deposited to secure performance by the tenants,
lessees, sublessees, or licensees, as applicable, of their obligations, whether the cash or
securities are to be held until the expiration of the terms of the leases, subleases, licenses,
concessions, or occupancy agreements or applied to one or more of the installments of rent
coming due before the expiration of their terms;
(5) All building materials, supplies, and equipment located on the Property and
all right, title, and interest of Grantor in and to all architectural renderings, models, plans,
specifications, studies, and data relating to the Improvements;
(6) . All contracts by Grantor relating to any part of the Property and all revenue,
income, and other benefits from them, including service contracts, maintenance contracts,
construction contracts, and management or operation contracts;
(7) All monetary deposits from Grantor to any public or private utility for utility
service for the Property and all right, title, and interest of Grantor in water taps, sewer
taps, and other utility services relating to the Property;
(8) All permits, licenses, franchises, certificates, and other rights and privileges
obtained in connection with the Property and all warranties and guaranties relating to the
Improvements or to any fixtures, equipment, furniture, furnishings, personal property, and
any of their components or installed on the Property;
(9) All records and books of account relating to the rental, operation, and
rehabilitation or construction of the Property;
(10) All policies of insurance Grantor is required to maintain pursuant to the
Loan Agreement or any of the other Loan Documents;
(11) All proceeds (including claims and demands for proceeds) from the voluntary
or involuntary conversion of any Collateral into cash or liquidated claims, including
insurance proceeds relating to the Property or any Collateral and condemnation awards;
and
(12) All other or greater rights and interests of every nature in the Property or in
its possession or use and income from it.
After recording,
return to:
Harry Revel~, Esq.
Burnside, Wall, Ellison & Daniel
454 Greene Street
Augusta, Georgia 30901
ASSIGNMENT OF LEASES,
RENTS, AND SECURITY DEPOSITS
This Assignment of Leases, Rents, and Security Deposits
("Assignment") is made December ~, 1998, by aIde Town
Associates, L.P., a Georgia limited partnership ("Borrower"), to
Augusta, Georgia, a political subdivision of the State of
Georgia ("Lender").
WIT N E SSE T H:
WHEREAS, Lender has made a loan to Borrower (the "Loan") in
the original principal amount of $1,137,000.00, pursuant to an
Rehabilitation Loan Agreement (the "Loan Agreement") and
evidenced by a Promissory Note (the "Note") from Borrower to
Lender and secured by one or more Deeds to Secure Debt and
Security Agreements (collectively, the "Security Deed") from
Borrower to Lender, which Security Deed conveys the real
property described in the attached Exhibit A (the "Premises")
and grants a security interest in certain personal property more
particularly described in the Security Deed;.
WHEREAS, as a condition to making the loan, Lender has
required the execution of this Assignment by Borrower;
NOW, THEREFORE, for and in consideration of .Ten Dollars
($10.00) received by Borrower and other good and valuable
consideration, the re,ceipt and sufficiency of which are hereby
acknowledged, Borrower hereby agrees as follows:
1. Assignment. Borrower hereby absolutely, irrevocably,
and unconditionally grants, transfers, and assigns to Lender all
of Borrower's rights, title, and interest in and to all leases
existing now or in the future for all or any part of the
Premises together with any modifications or extensions and any
guaranties of the tenant's obligations under any such lease (all
such leases and guaranties, modifications, and extensions to
them are individually referred to as a "Lease" and collectively
referred to as the "Leases") and all rents, issues, profits, and
security deposits from the Premises (all such rents, issues, and
profits being collectively referred to as the "Rents"). This
Assignment is for the purpose of securing the following
(collectively referred to as the "Debts"):' (a) the payment of
all sums Borrower owes or will owe Lender, now or in the future,
including any renewals or extensions of the Loan, any other debt
Borrower owes Lender, and any future advances Lender makes to
Borrower; and (b) the performance of each obligation, covenant,
and agreement of Borrower in this Assignment, the Loan
Agreement, the Security Deed, the Note, or any other instrument
or agreement from Borrower to Lender executed now or in the
future relating to the Loan or the Premises ( collectively, the
"Loan Documents") .
The rights assigned under this instrument include all of
Borrower's right and title to: (a) modify any Lease; (b)
terminate or accept the surrender of any Lease, unless required
to do so by the Lease; (C) waive or release any tenant from the
performance or observance of any obligation or condition of any
Lease; (d) permit or accept the prepayment of any Rent more than
30 days before its due date; (e) waive, release, discount,
discharge, or compromise any Rent payment; and (f) consent to an
assignment or sublease of any Lease by any tenant. Borrower will
not exercise any such rights without Lender '. s prior consent;
provided, however, so long as there is no Event of Default (as
defined below), Borrower may exercise the rights in clauses (a),
(b), (c), and (e) without Lender1s prior consent.
2.
Default,
security
Collection of Rents. So long as there is no Event of
Borrower shall have a license to collect all Rents and
deposits from the Leases and to retain, use, and enjoy
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them. If there is
Borrower's license,
all tenants to pay
representative.
an Event of Default, Lender may terminate
and, if Lender does so, it may notify any or
all Rents directly to Lender or its agent or
3. Warranties of Borrower. Borrower warrants that:
(a) There is no other assignment
under the Leases to any other person,
Department of Community Affairs.
of any
except
of
to
its
the
rights
Georgia
(b) Borrower has not done anything or omitted to do
anything that might prevent Lender from, or limit Lender in,
acting under any of the provisions of this Assignment.
(c) Borrower has not accepted any Rent for more than 30
days in advance of its due date.
(d) To Borrower I s best knowledge,
any tenant under any of the Leases,
identified on the attached Exhibit B.
there is no default by
except those tenants
(e) Borrower is not prohibited under any other agreement
or any judgment or decree from executing and delivering this
Assignment, performing every covenant of Borrower under it and
the Leases, and the meeting of every condition in this
Assignment and the Leases.
(f) No action has been brought or threatened that would in
any way interfere with Borrower I s right to execute and del i ver
this Assignment and perform all of Borrower's obligations in it
and the Leases.
(g) The Leases are in full force and effect and have not
been modified or amended.
4. Borrower's Covenants. Borrower agrees and covenants
with Lender as follows:
(a) Borrower will satisfy and perform
condition and covenant of Borrower contained in
will enforce every material provision of each
Lease;
every material
the Leases and
tenant in each
(b) Borrower will give Lender prompt notice of any default
or claimed default under any Lease received by Borrower from any
tenant and. furnish Lender with a complete copy of any such
written claim; and
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(c)
under any
Borrower,
Borrower will defend any action against it brought
Lease or relating to the obligations or liabilities of
as landlord, or of the tenant or any guarantor.
5. Events of Default. Borrower shall be in default under
this Assignment upon the occurrence of anyone or more of the
following events (each of which is an "Event of Default")
(a) the occurrence of any default or event of default
under any other Loan Document unless cured within any grace or
cure period;
(b) Borrower's failure to perform or observe any covenant
in this Assignment, which failure is not cured wi thin 20 days
after receipt of written notice from Lender of such failure;
(c) Borrower's failure to perform any material covenant of
landlord in the Leases.
6. Remedies. In addition to any other rights and remedies
that it may have, upon the occurrence of any Event of Default,
Lender may:
(a) declare the Debts immediately due and payable;
, (b) enter upon, manage, and operate the Premises and
collect all Rents without becoming a mortgagee-in-possession,
and, if Lender chooses to exercise this remedy, Borrower's
license to exercise any of the rights assigned to Lender in
connection with the Leases shall terminate, and it shall
transfer any security deposits that it is holding to Lender upon
demand;
(c) perform any obligation and exercise any right of
Borrower under any Lease as fully as Borrower itself could
(Lender may do so without regard to the adequacy of security for
the debt secured by this Assignment and with or without bringing
any legal action or causing any receiver to be appointed by any
court) ;
(d) make, enforce, modify, and accept the surrender of any
Lease and evict tenants;
(e) enter.into Leases with the terms and conditions Lender
deems desirable, and the term of any such Lease may extend
beyond the date of any sale of the Premises;
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(f) do all other acts which Lender deems necessary or
desirable to protect its security.
Upon the occurrence of an Event of Default, Borrower
authorizes Lender, in Borrower's or Lender's name, to sue for or
otherwise collect and receive all Rents, including Rents that
are past due at the time of the Event of Default. Lender shall
apply the Rents it collects first against all expenses of
collection (including reasonable attorneys' fees); second, to
all expenses of operating and managing the Premises and
performing Borrower's obligations under the Leases; third, to
late fees and interest on the Debts; and, then, to principal in
whatever order Lender determines in its absolute dis'cretion and
without regard to the adequacy of its security.
Lender's entry upon the Premises, its collection and
application of Rents, or the exercise of any other remedy
granted under this Assignment shall not operate to cure or waive
any default of Borrower under this Assignment or any other Loan
Document or preclude Lender from taking any other action under
any other Loan Document or at law or in equity to enforce
payment of the Debts or to realize on any other security.
Possession of the Premises by a court-appointed receiver shall
not be considered possession by Lender.
Borrower appoints Lender as its attorney-in-fact for the
purpose of exercising any or all of the above remedies. The
power and authority given to Lender shall be deemed coupled with
an interest, shall be irrevocable without Lender's written
consent, and shall not be affected by the voluntary or
involuntary dissolution of Borrower.
Borrower hereby ratifies and confirms any actions that
Lender takes with respect to the Premises or the Leases.
7. Performance by Lender. Lender is not obligated to
control, care for, manage, or repair the Premises or perform or
discharge any obligation of Borrower under the Leases. If
Borrower fails to perform or observe any covenant or comply with
any condition contained in the Leases, however, Lender may
perform such covenant or condition without notice to or demand
on Borrower and without releasing Borrower from its obligation
to do so. If Lender incurs any costs or pays any monies in
connection with such performance, including any costs or
expenses of litigation (including reasonable attorney's fees),
upon demand, Borrower shall payor reimburse Lender for such
costs or payments, and they shall be part of the Debts and shall
5
F:\Documents\CAR\ White Oak\Olde Town\city.assign.doc
bear interest from the date incurred or paid at the Default Rate
(as defined in the Note) until paid in full.
8. Reversionary Interest. No action of Borrower or Lender
shall cause or permit the estate (if any) of any tenant under
any Lease to merge with Borrower's reversionary interest (if
any)
9. Indemnification. Lender shall not be liable for any
loss sustained by Borrower in connection with any action or
omission of Lender under this Assignment, including any failure
to rent the Premises and any loss sustained as a result of
Lender's negligence. Lender is not responsible or liable for any
waste committed on the Premises, any dangerous or defective
condition of the Premises, or any negligence or intentional
wrongdoing of Borrower in the management, upkeep, repair, or
control of the Premises.
Borrower shall indemnify Lender against all liability,
loss, claim, damage, or expense (including reasonable attorneys'
fees) that Lender may incur under the Leases or this Assignment
or resulting from any act or omission of Lender under this
Assignment or the Leases, including any negligent act or
omission of Lender, but not including Lender's intentional
misconduct or gross negligence. If Lender incurs any such
liability, loss, claim, damage, or expense and if Borrower does
not fulfill its obligation to indemnify Lender in full upon
demand to do so, Lender may add the amount of any such
liability, loss, claim, damage, or expense to the outstanding
principal balance of the Note (even if such addition results in
the principal balance exceeding the face amount of the Note),
and such addition shall bear interest until paid in full at the
default rate under the Note. Payment of any such amount shall be
secured by the Security Deed and any other collateral for
Borrower's performance under the Loan Documents.
10. Term. Upon payment in full of all debt secured by this
Assignment, this Assignment shall terminate and have no further
effect.
11. Remedies Cumulative. The remedies in this Assignment
are in addition to and not in substitution of the rights and
remedies Lender has under any of the other Loan Documents or at
law or in equity, all of which rights and remedies are
specifically reserved by Lender. Lender's remedies in this
Assignment or elsewhere are cumulative and may be exercised
concurrently. The failure to exercise any remedy shall not
constitute a waiver of it. The use of any remedy shall not
6
F:\Documents\CAR\White Oak\Olde Town\city.assign.doc
preclude the subsequent or concurrent use of any other remedy or
remedies that Lender may have.
12. Governing Law. This Agreement shall be construed and
enforced in accordance with Georgia law.
13. Absolute Assignment. This
an absolute, unconditional, and
irrevocable without Lender's prior
Assignment is intended to be
present assignment that is
written consent.
14. General. Wherever used in this Assignment, unless the
context clearly indicates a contrary intent or unless otherwise
specifically provided, the words "Borrower" and II Lender II shall
include the parties and their respective heirs, executors, legal
representatives, administrators, successors, and assigns and all
those holding under either of them. Whenever possible, each
provision of this Assignment shall be interpreted in such manner
as to be effective and valid under applicable law, but
invalidation of anyone or more of the provisions of this
Assignment shall not affect. any of the other provisions, which
shall remain in full force and effect. All references to any
document, instrument, or agreement shall be deemed to refer to
it as it may be amended, modified, restated, supplemented, or
replaced from' time to time. Whenever there is a reference to
lIattorney.s feesll or 11 reasonable attorney's feesll in this
Assignment, it means reasonable attorney's fees, actually
incurred, without regard to any statutory presumption or
definition as"to what lIreasonable" attorney's fees means.
[This space intentionally left blank]
[Signature on next page]
7
F:\Documents\CAR\ White Oak\Olde Town\city.assign.doc
IN WITNESS WHEREOF, Borrower has executed this Assignment
on the above date.
OLDE TOWN ASSOCIATES, L.P.
By: White Oak Olde Town, Inc.,
As its managing general partner
"
By:
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Signed, sealed, and delivered
in the presence of:.
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~. . f -:;-, -~~~~nett County, Georgia. t
Ii:.- { . _ My CO'!1mJ.s.s~on~plr8S August 2, 1999. ,
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\;..~~"^.:.'I~~,~.....H(..'~':-........._,..~~~..~...~..~ .~t.::..... .
8
F:\Documents\CAR\ White Oak\Olde Town\city.assign.doc
EXHIBIT "A"
LEGAL DESCRIPTION 20 & 22W ALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "B" ON AN ALTAlACSMLAND TITLE SURVEY DATED NOVEMBER 17,
1998, LAST REVISED DECEMBER}, 1998, PREPARED BY W.R. TOOLE ENGINEERS,
INC. AND CERTIFIED BY STEVEN M. HARDY, GEORGIA REGISTERED LAND .
SURVEYOR NO. 2662 AND HAVING THE FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT -OF - WAY OF SIBLEY STREET (R/W
V ARIES)AND WALKER STREET (RIW VARIES) AT A #5 REBAR FOUND, AND THE
. TRUE POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE
SOUTHERN RIGHT -OF -WAY OF WALKER STREET SOUTH 66 DEGREES 35 MINUTES
34 SECONDS EAST A DISTANCE OF 40.01 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF 14 & 16 WALKER STREET SOUTH
22 DEGREES 56 MINUTES 15 SECONDS WEST A DISTANCE OF 127.54 FEET TO A
POINT; THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F SEIGLER:
NORTH 67 DEGREES 43 MINUTES 04 SECONDS WEST A DISTANCE OF 40.03 FEET TO
A POINT; THENCE TURNING AND CONTINUING ALONG THE EAST RIGHT -OF- WAY
OF SIBLEY STREET NORTH 22 DEGREES 57 MINUTES 00 SECONDS EAST A
DISTANCE OF 128.32 FEET TO THE TRUE POINT OF BEGINNING.
LEGAL DESCRIPTION 14 & 16 WALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
. AS TRACT "A" ON AN ALTAlACSM LAND TITLE SURVEY DATED NOVEMBER 17,
1998, LAST REVISED DECEMBER 7,1998, PREPARED BY W.R. TOOLE ENGINEERS,
INC. AND CERTIFIED BY STEVEN M. HARDY, GEORGIA REGISTERED LAND
SURVEYOR NO, 2662 AND HAVING THE FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT -OF - WAY OF SIBLEY STREET (RIW V ARIES)
AND WALKER STREET (RIW V ARIES) AND CONTINUING EAST ALONG THE
SOUTHERN RIGHT-OF-WAY OF WALKER STREET 40.01 FEET TO A #5 REBAR
FOUND, AND THE TRUE POINT-OF-BEGINNING; THENCE TURNING AND
CONTINUING ALONG THE SOUTHERN RIGHT -OF- WAY OF WALKER STREET SOUTH
66 DEGREES 38 MINUTES 45 SECONDS EAST A DISTANCE OF 39,95 FEET TO A 1/2
INCH OPEN TOP FOUND, THENCE TURNING AND CONTINUING ALONG THE LINE
OF N/F PRICEY SOUTH 22 DEGREES 55 MINUTES 04 SECONDS WEST A DISTANCE
OF 128.87 FEET TO A POINT; THENCE TURNING AND CONTINUING ALONG THE
LINE OF.N/F SEIGLER NORTH 64 DEGREES 44 MINUTES 13 SECONDS WEST A
DIST ANCE OF 40.02 FEET TO A POINT; THENCE TURNING AND CONTINUING
ALONG THE LINE OF 20 & 22 WALKER STREET NORTH 22 DEGREES 56 MINUTES 15
SECONDS EAST A DISTANCE OF 127.54 FEET TO THE SOUTHERN RIGHT -OF -WAY
OF WALKER STREET AND THE TRUE POINT-OF-BEGINNING.
LEGAL DESCRIPTION: 101 WATKINS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY, DATED OCTOBER 20, 1998, LAST
REVISED DECEMBER 7,1998 PREPARED BY W.R. TOOLE ENGINEERS, INe. AND
CERTIFIED BY STEVEN M. HARDY, GEORGIA REGISTERED LAND SURVEYOR NO.
2662 AND HAVING THE FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT-OF-WAY OF WATKIN~ STREET (RIW
.V ARIES) AND 1ST STREET (R!W VARIES) AT A #5 REBAR SET, AND THE TRUE
POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE NORTH
RIGHT-OF-WAY OF WATKINS STREET NORTH 65 DEGREES 49 MINUTES 34
SECONDS WEST A DISTANCE OF 50.00 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF N/F DR. lE. CARTER, JR. NORTH
24 DEGREES 17 MINUTES 52 SECONDS EAST A DISTANCE OF 49.92 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F-.
DOWNTOWN AUGUSTA, INC. SOUTH 65 DEGREES 54 MINUTES 48 SECONDS EAST
A DISTANCE OF 50.17 fEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE WEST RIGHT-OF-WAY OF 1ST STREET SOUTH 24
DEGREES 29 MINUTES 27 SECONDS WEST A DISTANCE OF 20.76 FEET TO A POINT;
THENCE TURNING AND CONTINUING SOUTH 65 DEGREES 30 MINUTES 33
SECONDS EAST A DISTANCE OF 2.55 FEET TO A POINT; THENCE TURNING AND
CONTINUING SOUTH 24 DEGREES 29 MINUTES 27 SECONDS WEST A DISTANCE OF
29.24 FEET TO A POINT; THENCE TURNING AND CONTINUING NORTH 65 DEGREES
.30 MINUTES 33 SECONDS WEST A DISTANCE OF 2.55 FEET TO THE TRUE POINT OF
BEGINNING.
LEGAL DESCRIPTION: 305 WALKER STREET
ALL THAT LOT OR PARCEL OF LAND, WITH IMPROVEMENTS THEREON, SITUATE,
LYING AND BEING IN THE CITY OF AUGUSTA, RICHMOND COUNTY, GEORGIA,
FRONTING A DISTANCE OF 60 FEET, MORE OR LESS, ON THE NORTH SIDE OF
WALKER STREET, BETWEEN THIRD AND FOURTH STREETS, AND EXTENDING
BACK OF EVEN WIDTH, A DISTANCE OF 162 FEET, MORE OR LESS, AND BEING
KNOWN AND DESIGNATED AS LOT NO. 119 ON WILLIAM PHILLIPS' MAP OF THE
CITY OF AUGUST A RECORDED IN THE OFFICE OF THE CLERK OF SUPERIOR
COURT OF RICHMOND COUNTY, GEORGIA, IN REALTY BOOK 18F, PAGE 420.
REFERENCE IS HEREBY MADE TO SAID PLAT FOR A MORE COMPLETE ~
ACCURATE DESCRIPTION AS TO THE METES, BOUNDS AND LOCATION OF SAID
PROPERTY.
2
F:\Documents\PRC\white oak\LEGAL DESCRIPTIONS.COMBINE4.doc
A MORE RECENT PLAT PREPARED BY TOOLE SURVEYING COMPANY FOR OLDE
TOWN PROPERTIES I, DATED MARCH 16, 1989, IS RECORDED IN REALTY REEL 307,
PAGE 713, IN SAID CLERK'S OFFICE.
SAID PROPERTY IS KNOWN AND DESIGNATED AS 305 WALKER STREET
ACCORDING TO THE SYSTEM OF STREET NUMBERING CURRENTLY IN USE IN .
AUGUSTA, RICHMOND COUNTY, GEORGIA.
LEGAL DESCRIPTION: 260 REYNOLDS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, AND BEING MORE FULLY SHOWN AND
DESIGNATED ON AN ALTAlACSM LAND TITLE SURVEY DATED 10/9/98 PREPARED
BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662 AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHWEST RIGHT-OF-WAY INTERSECTION OF 2ND STREET
(RIW VARIES) AND REYNOLDS STREET (R!W VARIES) AND CONTINUING WEST.
ALONG THE SOUTH RIGHT-OF-WAY OF REYNOLDS STREET 609.31 FEET:t TO A 5/8
INCH OPEN TOP FOUND, AND THE TRUE POINT OF BEGINNING; THENCE TURNING
AND CONTINUING ALONG THE LINE OF N/F GAY, SOUTH 24 DEGREES 16 MINUTES
35 SECONDS WEST AS DISTANCE OF 115,11 FEET TO A 5/8 INCH OPEN TOP FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F BATTEY, NORTH 66
DEGREE4S 07 MINUTES 17 SECONDS WEST A DISTANCE OF 25.50 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG AN EXISTING
ALLEY NORTH 03 DEGREES 49 MINUTES 11 SECONDS EAST A DISTANCE OF 43.61
FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG AN
EXISTING ALLEY NORTH 24 DEGREES 12 MINUTES 15 SECONDS EAST A DISTANCE
A DISTANCE OF 74.24 FEET TO f?\. #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE SOUTH RIGHT OF WAY OF REYNOLDS STREET SOUTH
65 DEGREES 59 MINUTES 16 SECONDS EAST A DISTANCE OF 40.83 FEET TO THE
TRUE POINT OF BEGINNING AND CONTAINING 0.10 ACRES (4,382.38 SQUARE FEET)
LEGAL DESCRIPTION: 209 TELFAIR STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA; BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY DATED OCTOBER 14, 1998, PREPARED
BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662 AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT OF WAY INTERSECTION OF TELFAIR
STREET (R!W V ARIES) AND 2ND STREET (R/W VARIES) AND CONTINUING WEST
3
F:\Documents\PRC\white oak\LEGAL DESCRIPTIONS.COMBINE4.doc
I
I
ALONG THE NORTH RIGHT OF WV A Y OF TELFAIR STREET 100 FEET :t TO A #5
REBAR FOUND, AND BEING THE TRUE POINT OF BEGINNING; THENCE TURNING
I
AND CONTINUING ALONG THE NORTH RIGHT OF WAY OF TELFAIR STREET
I
NORTH 67 DEGREES 38 MINUTES AND 50 SECONDS WEST A DISTANCE OF 36.00
FEET TO A #5 REBAR FOUND; 1/HENCE TURNING AND CONTINUING ALONG THE
LINE OF N/F BRANCH, NORTH 22 DEGREES 35 MINUTES 33 SECONDS EAST A
DISTANCE OF 176.31 FEET TO A 3/4 INCH CRIMPED TOP FOUND; THENCE TURNING
. AND CONTINUING ALONG THE LINE OF N/F SACCO AND N/F MABEN, SOUTH 69
I
DEGREES 04 MINUTES 52 SECONDS EAST A DISTANCE OF 35.79 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F
I
HARRIS AND N/F CONNELL SOUTH 22 DEGREES 31 MINUTES 09 SECONDS WEST A
I
DISTANCE OF 177.20 FEET TO THE TRUE POINT OF BEGINNING AND CONTAINING
I
0.15 ACRES (6,343.39 SQUARE FEET).
I
i
LEGAL DESCRIPTION: 228 TELFAIR STREET
i
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
i
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
I
ON AN ALTAlACSM LAND TITLE SURVEY DATED OCTOBER 9, 1998, PREPARED BY
W.R. TOOLE ENGINEERS, INC. ~ CERTIFIED BY STEVEN M. HARDY, GEORGIA
REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING METES
AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY INTERSECTION OF 3RD STREET
I .
(R!W VARIES) AND TELFAIR STREET (R!W VARIES) AND CONTINUING EAST
ALONG THE SOUTH RIGHT OF VIA Y OF TELFAIR STREET 503.58 FEET:t TO A #5
REBAR FOUND, AND THE TRUE POINT OF BEGINNING; THENCE TURNING AND
CONTINUING ALONG THE SOUTH RIGHT OF WAY OF TELFAIR STREET SOUTH 67
DEGREES 37 MINUTES 26 SECONDS EAST A DISTANCE OF 33.29 FEET TO A #4
REBAR SET; THENCE TuRNING I AND CONTINUING ALONG THE LINE OF N/F
MIRICK SOUTH 21 DEGREES 31 MINUTES 01 SECOND WEST A DISTANCE OF 169.85
FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE
LINE OF N/F ROUNDTREE AND N/F YOUNG NORTH 68 DEGREES 51 MINUTES 26
SECONDS WEST A DISTANCE OF 32.34 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF 230 TELFAIR STREET NORTH 21
DEGREES 11 MINUTES 58 SECONDS EAST A DISTANCE OF 170,56 FEET TO THE
TRUE POINT OF BEGINNING AND CONTAINING 0.13 ACRES (5,584.46 SQUARE
FEET).
LEGAL DESCRIPTION.: 230 TELFAIR STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY DATED OCTOBER 9,1998, PREPARED BY
W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY, GEORGIA
4
F:\Documents\PRC\white oak\LEGAL DESCRIPTIONS.COMBINE4.doc
REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING METES
AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY INTERSECTION OF 3RD STREET
(R!W VARIES) AND TELFAIR STREET (RIW VARIES) AND CONTINUING EAST
ALONG THE SOUTH RIGHT OF WAY OF TELFAIR STREET 470.58 FEET:t TO A #4
REBAR SET, AND THE TRUE POINT OF BEGINNING; THENCE TURNING AND
CONTINUING ALONG THE SOUTH RIGHT OF WAY OF TELFAIR STREET SOUTH 67
DEGREES 37 MINUTES 26 SECONDS EAST A DISTANCE OF 33.00 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF 228
TELFAIR STREET SOUTH 21 DEGREES 11 MINUTES 58 SECONDS WEST A DISTANCE
OF 170.56 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING
ALONG THE LINE OF N/F YOUNG AND N/F WILLIAMS NORTH 67 DEGREES 07
MINUTES 00 SECONDS WEST A DISTANCE OF 32.64 FEET TO A #5 REBAR FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F ALLEN NORTH 21
DEGREES 04 MINUTES 36 SECONDS EAST A DISTANCE OF 170.28 FEET TO THE
TRUE POINT OF BEGINNING AND CONTAINING 0.13 ACRES (5,591.39 SQUARE
FEET).
LEGAL DESCRIPTION: 224 BROAD STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY DATED OCTOBER 21, 1998, PREPARED
BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHWEST RIGHT OF WAY OF 2ND STREET (R!W V ARIES)
AND BROAD STREET (RIW VARIES) AND CONTINUING WEST ALONG THE SOUTH
RIGHT OF WAY OF BROAD STREET 247.50 FEET:t TO A P.K. NAIL FOUND AND THE
TRUE POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE
LINE OFN/F ANDERSON SOUTH 23 DEGREES 38 MINUTES 12 SECONDS WEST A
DISTANCE OF 133.70 FEET TO A #4 REBAR SET; THENCE TURNING AND
CONTINUING ALONG THE LINE OF N/F DOWNTOWN AUGUSTA NORTH 68
DEGREES 16 MINUTES 05 SECONDS WEST A DISTANCE OF 54.02 FEET TO A #4
REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F
MCGAHEE NORTH 23 DEGREES 37 MINUTES 14 SECONDS EAST A DISTANCE OF
134.76 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG
THE SOUTH RIGHT OF WAY OF BROAD' STREET SOUTH p7 DEGREES 08 MINUTES 50
SECONDS EAST A DISTANCE OF 54.03 FEET TO THE TRUE POINT OF BEGINNING
AND CONTAINING 0.17 ACRES (7,249.35 SQUARE FEET).
5
F:\Documents\PRC\white oak\LEGAL DESCRIPTIONS.COMBINE4.doc
LEGAL DESCRIPTION: 111 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY DATED OCTOBER 20,1998, PREPARED
BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT OF WAY OF FORSYTHE STREET (R/W
V ARIES) AND ELLIS STREET (R/W V ARIES) AND CONTINUING WEST ALONG THE
NORTH RIGHT OF WAY OF ELLIS STREET 49.00 FEET:t TO A #5 REBAR FOUND AND
THE TRUE POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG
THE NORTH RIGHT OF WAY OF ELLIS STREET NORTH 66 DEGREES 00 MINUTES 00
SECONDS WEST A DISTANCE OF 48.52 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF N/F MCGOW ANS FLORIST
NORTH 25 DEGREES 01 MINUTE 43 SECONDS EAST A DISTANCE OF 90.91 FEET TO
A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF
N/F CONNELL SOUTH 66 DEGREES 04 MINUTES 54 SECONDS EAST A DISTANCE OF
47.51 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG
THE LINE OF N/F AGNEW SOUTH 24 DEGREES 23 MINUTES 20. SECONDS WEST A:
DISTANCE OF 90.96 FEET TO THE TRUE POINT OF BEGINNING AND CONTAINING
0.10 ACRES (4,365.88 SQUARE FEET),
LEGAL DESCRIPTION: 409 WALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY DATED OCTOBER 9, 1998, PREPARED BY
W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY, GEORGIA
REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING METES
AND BOUNDS TO WIT:
BEGINNING AT THE NORTHEAST RIGHT OF WAY INTERSECTION OF WALKER
STREET (R/WVARIES) AND GOR,DONHIGHWAY (150 FEET R/W) AT A 1 INCH
CRIMPED TOP FOUND AND BEING THE TRUE POINT OF BEGINNING; THENCE
TURNING AND CONTINUING ALONG THE EAST RIGHT OF WAY OF GORDON
HIGHWAY NORTH 25 DEGREES 25 MINUTES 50 SECONDS EAST A DISTANCE OF
131.69 FEET TO A 5/8 INCH OPEN TOP FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF N/F REDDY SOUTH 63 DEGREES 21 MINUTES 37
SECONDS EAST A DISTANCE OF 36.67 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF N/F ZARGE SOUTH 23 DEGREES
04 MINUTES 36 SECONDS WEST A DISTANCE OF 130.65 FEET TO A #5 REBAR
FOUND; 1HENCE TURNING AND CONTINUING ALONG THE NORTH RIGHT OF WAY
OF WALKER STREET NORTH 65 DEGREES 04 MINUTES 36 SECONDS WEST A
6
F:\Documents\PRC\white oak\LEGAL DESCRIPTIONS.COMBINE4.doc
DISTANCE OF 42.03 FEET TO THE TRUE POINT OF BEGINNING AND CONTAINING
0.12 ACRES (5,158.18 SQUARE FEET).
LEGAL DESCRIPTION: 101 & 103 1ST STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED .
ON AN ALTAlACSM LAND TITLE SURVEY DATED OCTOBER 20, 1998, PREPARED
BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHWEST RIGHT OF WAY INTERSECTION OF REYNOLDS
STREET (RIW VARIES) AND 1ST STREET (RIW VARIES) AT A #5 REBAR FOUND AND
THE TRUE POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG
THE WEST RIGHT OF WAY OF 1ST STREET SOUTH 24 DEGREES 01 MINUTE 17
SECONDS WEST A DISTANCE OF 65.12 FEET TO #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF N/F WASHINGTON NORTH 65
DEGREES 55 MINUTES 56 SECONDS WEST A DISTANCE OF 75.83 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F..
CARTER AND N/F ZARGE NORTH 23 DEGREES 51 MINUTES 02 SECONDS EAST A:
DISTANCE OF 65.03 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE SOUTH RIGHT OF WAY OF REYNOLDS STREET SOUTH
66 DEGREES 00 MINUTES 00 SECONDS EAST A DISTANCE OF 76.02 FEET TO THE
TRUE POINT OF BEGINNING AND CONTAINING 0.11 ACRES (4,940.70 SQUARE
FEET),
LEGAL DESCRIPTION: 237 TELFAIR STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY DATED OCTOBER 14, 1998, PREPARED
BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHEAST RIGHT OF WAY INTERSECTION OF 3RD STREET
(R!W V ARIES) AND TELFAIR STREET (RIW V ARIES) AND CONTINUING EAST
ALONG THE NORTH RIGHT OF WAY OF TELFAIR STREET 344.68 FEET :t TO A #5
REBAR FOUND AND THE TRUE POINT OF BEGINNING; THENCE TURNING AND
CONTINUING ALONG THE LINE OF N/F TRITT AND WALKER NORTH 22 DEGREES
45 MINUTES 57 SECONDS EAST A DISTANCE OF 174.91 FEET TO A #4 REBAR SET;
THENCE TURNING AND CONTINUING ALONG THE LINE OF DOWNTOWN
AUGUSTA, INe. AND N/F BALK, SOUTH 67 DEGREES 09 MINUTES 44 SECONDS
EAST A DISTANCE OF 33,60 FEET TO A 3/4 INCH OPEN TOP FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF N/F BALK, SOUTH 22 DEGREES
7
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46 MINUTES 16 SECONDS WEST A DISTANCE OF 174.77 FEET TO A #4REBAR SET;
THENCE TURNING AND CONTINUING ALONG THE NORTH RIGHT OF WAY OF
TELFAIR STREET NORTH 67 DEGREES 24 MINUTES 03 SECONDS WEST A DISTANCE
OF 33.59 FEET TO THE TRUE POINT OF BEGINNING AND CONTAINING 0,13 ACRES
. (5,873.89 SQUARE FEET).
LEGAL DESCRIPTION: 134 & 136 WALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY DATED OCTOBER 21,1998, PREPARED
BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HA VINGTHE FOLLOWING
. METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY OF 2ND STREET (R!W V ARIES)
AND WALKER STREET (R!W VARIES) AND CONTINUING EAST ALONG THE SOUTH
RIGHT OF WAY OF WALKER STREET 124.50 FEET :t TO A #5 REBAR FOUND BEING
THE TRUE POINT OF BEGINNING, THENCE TURl'flNG AND CONTINUING ALONG
THE SOUTH RIGHT OF WAY OF WALKER STREET SOUTH 66 DEGREES 33 MINUTES
32 SECONDS EAST A DISTANCE OF 42.97 FEET TO A #5 REBAR FOUND; THENCE:
TURNING AND CONTINUING ALONG THE LINE OF NIP BAUKNIGHT SOUTH 23
DEGREES 25 MINUTES 00 SECONDS WEST A DISTANCE OF 132.01 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP
. CIMANYD INC, NIP DAVIS, NIP JACKSON, NORTH 66 DEGREES 38 MINUTES 47
SECONDS WEST A DISTANCE OF 42.98 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF NIP BAILEY NORTH 23 DEGREES
25 MINUTES 28 SECONDS EAST A DISTANCE OF 132.07 FEET TO THE TRUE POINT
OF BEGINNING AND CONTAINING 0.13 ACRES (5,669.54 SQUARE FEET).
LEGAL DESCRIPTION: 259 GREENE STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY DATED OCTOBER 19, 1998, PREPARED
BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING.
METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHEAST RIGHT OF WAY OF 3RD STREET (RIW VARIES)
AND GREENE STREET (RIW V ARIES) AND CONTINUING EAST ALONG THE NORTH
RIGHT OF WAY OF GREENE STREET 52.28 FEET :t TO A SPIKE FOUND AND THE
TRUE POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE
LINE OF NIP GRABLOSKI NORTH 22 DEGREES 43 MINUTES 12 SECONDS EAST A
DISTANCE OF 119,55 FEET TO A CORNER OF BRICK WALL; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIP BRYANT SOUTH 67 DEGREES 58 MINUTES
8
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07 SECONDS EAST A DISTANCE OF 30.85 FEET TO A CORNER OF WALL; THENCE
TURNING AND CONTINUING ALONG THE LINE OF NIP BRYANT NORTH 26
DEGREES 06 MINUTES 58 SECONDS EAST A DISTANCE OF 14.85 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP
SULLIVAN SOUTH 66 DEGREES 58 MINUTES 57 SECONDS EAST A DISTANCE OF
16.43 FEET TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE
LINE OF NIP BUCKLEY SOUTH 23 DEGREES 30 MINUTES 09 SECONDS WEST A
DISTANCE OF 133.69 FEET TO A 1/2 INCH FLAT BAR; THENCE TURNING AND
CONTINUING ALONG THE NORTH RIGHT OF WAY OF GREENE STREET NORTH 68
DEGREES 30 MINUTES 00 SECONDS WEST A DISTANCE OF 46.34 FEET TO THE TRUE
. POINT OF BEGINNING AND CONTAINING 0.13 ACRES (5,872.50 SQUARE FEET).
LEGAL DESCRIPTION: 256 GREENE STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "A" ON AN ALTAlACSM LAND TITLE SURVEY DATED OCTOBER 9, 1998,
PREP ARED BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY OF GREENE STREET (RIW
VARIES) AND 3RD STREET (R!W VARIES) AND CONTINUING ALONG THE SOUTH
RIGHT OF WAY OF GREENE STREET 155.41 FEET:t TO A #4 REBAR SET AND THE
TRUE POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE
SOUTH RIGHT OF WAY OF GREENE STREET SOUTH 67 DEGREES 29 MINUTES 30
SECONDS EAST A DISTANCE OF 33.01 FEET TO A #4 REBAR SET; THENCE TURNING
AND CONTINUING ALONG THE LINE OF NIP BIGHOM SOUTH 23 DEGREES 41
MINUTES 16 SECONDS WEST A DISTANCE OF 173.27 FEET TO A #5 REBAR FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP THOMPKINS AND
NIP BEALE NORTH 66 DEGREES 13 MINUTES 55 SECONDS WEST A DISTANCE OF
32,99 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG
THE LINE OF 258 GREENE STREET NORTH 23 DEGREES 40 MINUTES 55 SECONDS
EAST A DISTANCE OF 172.54 FEET TO THE TRUE POINT OF BEGINNING AND
CONTAINING 0.13 ACRES (5,704.80 SQUARE FEET).
LEGAL DESCRIPTION: 258 GREENE STREET
ALL THA T CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "B" ON AN ALTAlACSM LAND TITLE SURVEY DATED OCTOBER 9, 1998,
PREPARED BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
9
F:\Documents\PRC\white oak\LEGAL DESCRIPTIONS.COMBINE4.doc
BEGINNING AT THE SOUTHEAST RlGHT OF WAY OF GREENE STREET (R/W
V ARIES) At'ID 3RD STREET (R/W V ARIES) AND CONTINuING ALONG THE SOUTH
RlGHT-OF- WAY OF GREENE STREET 122,51 FEET == TO A #4 REBAR SET AND THE
TRUE POINT OF BEGINNING; THENCE CONTINUING ALONG THE SOUTH RIGHT OF
WAY OF GREENE STREET SOUTH 67 DEGREES 29 MINUTES 30 SECONDS EAST A
DISTANCE OF 32.90 FEET TO A #4 REBAR SET; THENCE TURJ.'\fING AND
CONTINUING ALONG THE LINE OF 256 GREENE STREET SOUTH 23 DEGREES 40
MINUTES 55 SECONDS WEST A DIST At"lCE OF 172.54 FEET TO A #5 REBAR FOUND;
THENCE TURNING At'\ffi CONTJNlJ1NG ALONG THE LINE OF N/F BEALE At'ID N/F
BARTON INVESTMENT CO. INe. NORTH 66 DEGREES 13 MINUTES 55 SECONDS
WEST A DIST At"\TCE OF 32.96 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF 260 GREENE STREET NORTH 23 DEGREES 42
MINUTES 20 SECONDS EAST A DISTANCE OF 171.82 FEET TO THE TRUE POINT OF
BEGINNING Al'ID CONTAINING 0.13 ACRES (5,669,67 SQUARE FEET).
LEGAL DESCRIPTION: 260 GREENE STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICffivrOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "C" ON AN ALTAlACSM LAND TITLE SURVEY DATED OCTOBER 9, 1998,
PREPARED BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY INTERSECTION OF 3RD STREET
(RIW V ARIES) AND GREENE STREET (MV VARIES) AND CONTINUING EAST
ALONG THE SOUTHERN RIGHT OF WAY OF GREENE STREET 89.5 FEET:t TO A #4
REBAR SET AND THE TRUE POINT OF BEGINNING; THENCE TURNING AND
CONTINUING ALONG THE SOUTH RIGHT OF WAY GREENE STREET SOUTH 67
DEGREES 29 MINUTES 30 SECONDS EAST A DISTANCE OF 33.01 FEET TO A #4
REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF 258
GREENE STREET SOUTH 23 DEGREES 42 MINUTES 20 SECONDS WEST A DISTANCE
OF 171.82 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING
ALONG THE LINE OF BARTON INVESTMENT CO INC, NORTH 66 DEGREES 13
MINUTES 55 SECONDS WEST A DISTANCE OF 32.98 FEET TO A 5/8 INCH CRIMPED
TOP FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF AUGUSTA
MINISTERS UNION, N/F ROBERTS Al'ID N/F GRADY NORTH 23 DEGREES 41
MINUTES 58 SECONDS EAST A DISTANCE OF 171.10 FEET TO THE TRUE POINT OF
BEGINNING At'ID CONTAINING 0.13 ACRES (5,657.19 SQUARE FEET).
LEGAL DESCRIPTION: 608 & 610 THIRD STREET & 264 \VALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RlCHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "D" ON AN ALTAlACSM LAND TITLE SURVEY DATED NOVEMBER 13,
10
F:\DoclImcnts\PRC\white oak\LEGAL DESCRIPTlONS.COMBINE4.doc
1998, PREPARED BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY OF THIRD STREET (RIW V ARIES)
AND WALKER STREET (RIW V ARIES) AT A #4 REBAR SET AND THE TRUE POINT OF
BEGINNING; THENCE TURNING AND CONTINUING EAST ALONG THE SOUTH
RIGHT OF WAY OF WALKER STREET SOUTH 66 DEGREES 34 MINUTES 40 SECONDS
EAST A DISTANCE OF 54.39 FEET TO A #4 REBAR SET; THENCE SOUTH 21 DEGREES
44 MINUTES 19 SECONDS WEST A DISTANCE OF 1.90 FEET TO A # 5 REBAR FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF 262 WALKER STREET
SOUTH23 DEGREES 45 MINUTES 24 SECONDS WEST A DISTANCE OF 134.84 FEET
TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF
614 THIRD STREET NORTH 66 DEGREES 26 MINUTES 02 SECONDS WEST A
DISTANCE OF 52.56 F~ET TO A #4 REBAR SET; THENCE TURNING AND
CONTINUING NORTH 66 DEGREES 26 MINUTES 02 SECONDS WEST A DISTANCE OF.
1.93 FEET TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE
RIGHT OF WAY OF THIRD STREET NORTH 23 DEGREES 46 MINUTES 10 SECONDS
EAST A DISTANCE OF 136.60 FEET TO THE TRUE POINT OF BEGINNING AND
CONTAINING 0.17 ACRES (7,444.87 SQUARE FEET).
LEGAL DESCRIPTION: 262 WALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "C" ON AN ALTAlACSM LAND TITLE SURVEY DATED NOVEMBER 13,
1998, PREPARED BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY OF THIRD STREET (R/W VARIES)
AND WALKER STREET (R/W V ARIES) AND CONTINUING EAST ALONG THE SOUTH
RIGHT OF WAY OF WALKER STREET 54.39 FEET TO A #4 REBAR SET; THENCE
TURNING AND CONTINUING SOUTH 21 DEGREES 44 MINUTES 19 SECONDS WEST A
DISTANCE OF 1.90 FEET TO A #4 REBAR SET AND THE TRUE POINT OF BEGINNING;
THENCE TURNING AND CONTINUING ALONG THE SOUTH RIGHT OF WAY OF
WALKER STREET SOUTH 66 DEGREES 25 MINUTES 22 SECONDS EAST A DISTANCE
. OF 46.18 FEET TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG
THE LINE OF 260 WALKER STREET SOUTH 23 DEGREES 41 MINUTES 06 SECONDS
WEST A DISTANCE OF 134.83 FEET TO A #4 REBAR SET; THENCE TURNING AND
CONTINUING ALONG THE LINE OF 614 THIRD STREET NORTH 66 DEGREES 26
MINUTES 23 SECONDS WEST A DISTANCE OF 46.35 FEET TO A #4 REBAR SET;
THENCE TURNING AND CONTINUING ALONG THE LINE OF 608 AND 610 THIRD
STREET& 264 WALKER STREET NORTH 23 DEGREES 45 MINUTES 24.SECONDS
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EAST A DISTANCE OF 134.84 FEET TO THE TRUE POINT OF BEGINNING AND
CONTAINING 0.14 ACRES (6,238~11 SQUARE FEET).
LEGAL DESCRIPTION: 260 WALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "B" ON AN ALTAlACSM LAND TITLE SURVEY FOR DATED NOVEMBER
13, 1998, PREPARED BY W,R, TOOLE ENGINEERS, INC, AND CERTIFIED BY STEVEN
M. HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY OF THIRD STREET (R!W VARIES)
AND WALKER STREET (R/W V ARIES) AND CONTINUING EAST ALONG THE SOUTH
RIGHT OF WAY OF WALKER STREET 54.39 FEET TO A #4 REBAR SET; THENCE
TURNING AND CONTINUING SOUTH 21 DEGREES 44 MINUTES 19 SECONDS WEST A
DISTANCE OF 1.90 FEET TO A #4 REBAR SET; THENCE CONTINUING EAST ALONG
THE SOUTH RIGHT OF WAY OF WALKER STREET 46.18 FEET TO A #4 REBAR SET
AND THE TRUE POINT OF BEGINNING; THENCE TURNING AND CONTINUING
ALONG THE SOUTH RIGHT OF WAY OF WALKER STREET SOUTH 66 DEGREES 37
MINUTES 45 SECONDS EAST A DISTANCE OF 44.22 FEET TO A #4 REBAR SET; :
THENCE TURNING AND CONTINUING ALONG THE L INE OF 256 WALKER STREET
SOUTH 23 DEGREES 41 MINUTES 36 SECONDS WEST A DISTANCE OF 134.99 FEET
rO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF
N/F WARREN NORTH 66 DEGREES 21 MINUTES 58 SECONDS WEST A DISTANCE OF
. 12.84 FEET TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE
LINE OF 614 THIRD STREET NORTH 66 DEGREES 26 MINUTES 22 SECONDS WEST A
DISTANCE OF 31.36 FEET TO A #4 REBAR SET; THENCE TURNING AND
CONTINUING ALONG THE LINE OF 262 WALKER STREET NORTH 23 DEGREES 41
MINUTES 06 SECONDS EAST A DISTANCE OF 134,83 FEET TO THE TRUE POINT OF
BEGINNING AND CONTAINING 0.14 ACRES (5,964.14 SQUARE FEET).
LEGAL DESCRIPTION: 256 WALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "A" ON AN ALTAlACSM LAND TITLE SURVEY DATED NOVEMBER 13,
1998, PREPARED BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY OF THIRD STREET (R/W V ARIES) .
AND WALKER STREET (R/W V ARIES) AND CONTINUING EAST ALONG THE SOUTH
RIGHT OF WAY OF WALKER STREET 54.39 FEET TO A #4 REBAR SET; THENCE
TURNING AND CONTINUING SOUTH 21 DEGREES 44 MINUTES 19 SECONDS WEST A
DISTANCE OF 1.90 FEET TO A #4 REBAR SET; THENCE CONTINUING EAST ALONG
12
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THE SOUTH RIGHT OF WAY OF WALKER STREET 90.40 FEET TO A#4 REBAR SET
. AND THE TRUE POINT OF BEGINNING, THENCE TURNING AND CONTINUING
ALONG THE SOUTH RIGHT OF WAY OF WALKER STREET SOUTH 66 DEGREES 37
MINUTES 20 SECONDS EAST A DISTANCE OF 29.70 FEET TO A #5 REBAR FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP HOLLAND SOUTH
23 DEGREES 41 MINUTES 35 SECONDS WEST A DISTANCE OF 135.12 FEET TO A #4
REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP
WARREN NORTH 66 DEGREES 21 MINUTES 57 SECONDS WEST A DISTANCE OF
29.70 FEET TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE
LINE OF 260 WALKER STREET NORTH 23 DEGREES 41 MINUTES 36 SECONDS EAST
A DISTANCE OF 134.99 FEET TO THE TRUE POINT OF BEGINNING AND
CONTAINING 0.09 ACRES (4,012.24 SQUARE FEET)
. LEGAL DESCRIPTION: 614 THIRD STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "E" ON AN ALTAlACSM LAND TITLE SURVEY DATED NOVEMBER 13,
1998, PREPARED BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY OF THIRD STREET (R/W V ARIES)
AND WALKER STREET (RIW V ARIES) AND CONTINUING SOUTH ALONG THE EAST
RIGHT OF WAY OF THIRD STREET 136.60 FEET TO A #4 REBAR SET; THENCE
TURNING AND CONTINUING SOUTH 66 DEGREES 26 MINUTES 02 SECONDS EAST A
DISTANCE OF 1.93 FEET TO A #4 REBAR SET AND THE TRUE POINT OF BEGINNING;
THENCE TURNING AND CONTINUING ALONG THE LINE OF 608 AND 610 THIRD
STREET AND 264W ALKER STREET SOUTH 66 DEGREES 26 MINUTES 02 SECONDS
EAST A DISTANCE OF 52.56 FEET TO A #4 REBAR SET; THENCE TURNING AND
CONTINUING ALONG THE LINE OF 262 WALKER STREET SOUTH 66 DEGREES 26
MINUTES 23 SECONDS EAST A DISTANCE OF 46.35 FEET TO A #4 REBAR SET;
THENCE TURNING AND CONTINUING ALONG THE LINE OF 260 WALKER STREET
SOUTH 66 DEGREES 26 MINUTES 22 SECONDS EAST A DISTANCE OF 31.36 FEET TO
A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F
WARREN SOUTH 24 DEGREES 01 MINUTE 25 SECONDS WEST A DISTANCE OF 40.08
FEET TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE
OF NIP PERDUE NORTH 66 DEGREES 24 MINUTES 09 SECONDS WEST A DISTANCE
OF 130.06 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING
ALONG THE EAST RIGHT OF WAY OF THIRD STREET NORTH 23 DEGREES 43
MINUTES 55 SECONDS EAST A DISTANCE OF 40.00 FEET TO THE-TRUE POINT OF
BEGINNING AND CONTAINING 0.12 ACRES (5,21 i,34 SQUARE FEET).
13
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LEGAL DESCRIPTION: 209 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "D" ON AN ALTAlACSM LAND TITLE SURVEY DATED NOVEMBER 5,
1998, PREPARED BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO, 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT OF WAY OF 2ND STREET (RIW V ARIES)
AND ELLIS STREET (RIW VARIES) AND CONTINUING WEST ALONG ELLIS STREET
99 FEET :t TO A 3/4 INCH CRIMPED TOP FOUND AND THE TRUE POINT OF
BEGINNING; THENCE TURNING AND CONTINUING ALONG THE NORTH RIGHT OF
WAY OF ELLIS STREET NORTH 66 DEGREES 00 MINUTES 00 SECONDS WEST A
DISTANCE OF 50,03 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF 211 AND 213 ELLIS STREET NORTH 24 DEGREES
25 MINUTES 36 SECONDS EAST A DISTANCE OF 118.99 FEET TO A #5 REBAR
FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE NIP ANTHONY
AND NIP HERRINGTON SOUTH 65 DEGREES 58 MINUTES 26 SECONDS EAST A
DISTANCE OF 49.97 FEET TO A #5 REBAR FOUND; THENCE TURNING AND .
CONTINUING ALONG THE LINE OF NIP AGOSTAS SOUTH 24 DEGREES 23 MINUTES
45 SECONDS WEST A DISTANCE OF 118.97 FEET TO THE TRUE POINT OF
BEGINNING AND CONTAINING 0.14 ACRES (5,948.87 SQUARE FEET).
LEGAL DESCRIPTION 211 & 213 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "C" ON AN ALTAlACSM LAND TITLE SURVEY DATED NOVEMBER 5,
1998, PREPARED BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT OF WAY OF 2ND STREET (R!W VARIES)
AND ELLIS STREET (R!W VARIES) AND CONTINUING WEST ALONG ELLIS STREET
149.03 FEET:f TO A #5 REBAR FOUND AND THE TRUE POINT OF BEGINNING;
THENCE TURNING AND CONTINUING ALONG THE NORTH RIGHT OF WAY OF
ELLIS STREET NORTH 65 DEGREES 58 MINUTES 22 SECONDS WEST A DISTANCE OF
53.55 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG
THE LINE OF 215 ELLIS STREET NORTH 24 DEGRES 27 MINUTES 11 SECONDS EAST
A DISTANCE OF 119.22 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OFN/F. SPRADLEY AND N/F ANTHONY SOUTH 65
DEGREES 43 MINUTES 26 SECONDS EAST A DISTANCE OF 53,50 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF 209
ELLIS STREET SOUTH 24 DEGREES 25 MINUTES 36 SECONDS WEST A DISTANCE OF
14
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118.99 FEET TO THE TRUE POINT OF BEGINNING AND CONTAINING 0.15 ACRES
(6,375.26 SQUARE FEET).
LEGAL DESCRIPTION: 215 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "B" ON AN ALTAlACSM LAND TITLE SURVEY DATED NOVEMBER 5,
1998, PREPARED BY W.R. TOOLE.ENGINEERS, INe. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT OF WAY OF 2ND STREET (RIW V ARIES)
AND ELLIS STREET (R!W VARIES) AND CONTINUING WEST 202.58 FEET :t TO A #5
REBAR FOUND AND THE TRUE POINT OF BEGINNING; THENCE TURNING AND
CONTINUING ALONG THE NORTH RIGHT OF WAY OF ELLIS STREET NORTH 65
DEGREES 57 MINUTES 17 SECONDS WEST A DISTANCE OF 50.11 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF 219..
AND 221 ELLIS STREET NORTH 24 DEGREES 45 MINUTES'08 SECONDS EAST A :
DISTANCE OF 134,87 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIP lC. ANDERSON, JR., SOUTH 66 DEGREES 15
MINUTES 51 SECONDS EAST A DISTANCE OF 49.12 FEET TO A #5 REBAR FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP SPRADLEY SOUTH
23 DEGREES 23 MINUTES 39 SECONDS WEST A DISTANCE OF 15.91 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF 211
AND 213 ELLIS STREET SOUTH 24 DEGREES 27 MINUTES 11 SECONDS WEST A
DISTANCE OF 119.22 FEET TO THE TRUE POINT OF BEGINNING AND CONTAINING
0.15 ACRES (6,714.64 SQUARE FEET).
LEGAL DESCRIPTION: 219 & 221 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "A" ON AN ALTAlACSM LAND TITLE SURVEY DATED NOVEMBER 5,
1998, PREPARED BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE .
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT OF WAY OF 2ND STREET (R/W V ARIES)
AND ELLIS STREET (R./W VARIES) AND CONTINUING WEST 252.69 FEET :t TO A #5
REBAR FOUND AND THE TRUE POINT OF BEGINNING; THENCE TURNING AND
CONTINUING ALONG THE NORTH RIGHT OF WAY OF ELLIS STREET NORTH 65
DEGREES 59 MINUTES 23 SECONDS WEST A DISTANCE OF 62.76 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP
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DOWNTOWN AUGUSTA, INe. NORTH 24 DEGREES 39 MINUTES 54 SECONDS EAST
A DISTANCE OF 133.26 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIP MCGAHEE AND NIP DOWNTOWN
AUGUSTA, INC. SOUTH 67 DEGREES 27 MINUTES 09 SECONDS EAST A DISTANCE
OF 63.00 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING
ALONG THE LINE OF 215 ELLIS STREET SOUTH 24 DEGREES 45 MINUTES 08
SECONDS WEST A DISTANCE OF 134.87 FEET TO THE TRUE POINT OF BEGINNING
AND CONTAINING 0.19 ACRES (8,426.94 SQUARE FEET).
LEGAL DESCRIPTION: 319 ELLIS STREET
ALL THA T CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY DATED NOVEMBER 9,1998, PREPARED
BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA'REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT OF WAY OF 3RD STREET (R!W VARIES)
AND ELLIS STREET(R!W VARIES) AND CONTINUING WEST 287.99 FEET:t TO A 1/2
INCH OPEN TOP FOUND AND THE TRUE POINT OF BEGINNING; THENCE TURNING
AND CONTINUING ALONG THE NORTH RIGHT OF WAY OF ELLIS STREET NORTH
66 DEGREES 07 MINUTES 03 SECONDS WEST A DISTANCE OF 40.82 FEET TO A P.K.
NAIL FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF 321 ELLIS
STREET NORTH 25 DEGREES 02 MINUTES 39 SECONDS EAST A DISTANCE OF 132.25
FEET TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE
OF NIP OLDE TOWN PROPERTIES SOUTH 66 DEGREES 15 MINUTES 48 SECONDS
EAST A DISTANCE OF 32.17 FEET TO A #4 REBAR SET; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIP UPTON SOUTH 62 DEGREES 02 MINUTES 56
SECONDS EAST A DISTANCE OF 8.55 FEET TO A #4 REBAR FOUND SET; THENCE
TURNING AND CONTINUING ALONG THE LINE OF NIP HUDSON SOUTH 24
DEGREES 59 MINUTES 42 SECONDS WEST A DISTANCE OF 131.72 FEET TO THE
TRUE POINT OF BEGINNING AND CONTAINING 0,12 ACRES (5,389.41 SQUARE
FEET).
LEGAL DESCRIPTION: 323 AND 323 1/2 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY DATED NOVEMBER 9,1998, PREPARED
BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HA VING THE FOLLOWINGDMETES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT OF WAY OF 3RD STREET (RIW V ARIES)
AND ELLIS STREET (R/W VARIES) AND CONTINUING WEST 364.79 FEET:t TO A 3/4
16
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. .
INCH CRIMPED TOP FOUND AND THE POINT OF BEGINNING; THENCE TURNING
AND CONTINUING ALONG THE NORTH RIGHT OF WAY OF ELLIS STREET NORTH
65 DEGREES 58 MINUTES 54 SECONDS WEST A DISTANCE OF 36.00 FEET TO A #4
REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF 325 AND
327 ELLIS STREET NORTH 25 DEGREES 08 MINUTES 36 SECONDS EAST A DISTANCE
OF 112.89 FEET TO A 3/4 INCH CRIMPED TOP FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF N/F CROSS NORTH 24 DEGREES 09 MINUTES 17
SECONDS EAST A DISTANCE OF 19.28 FEET TO A 3/4 INCH CRIMPED TOP FOUND;
THENCE TURNING ANI) CONTINUING ALONG THE LINE OF NIP DEVANEY SOUTH
66 DEGREES 32 MINUTES 11 SECONDS EAST A DISTANCE OF 36,02 FEET TO A 3/4
INCH CRIMPED TOP FOUND; THENCE TURNING AND CONTINUING ALONG THE
LINE OF 321 ELLIS STREET SOUTH 25 DEGREES 00 MINUTES 12 SECONDS WEST A
DIST ANCE OF 132.51 FEET TO THE TRUE POINT OF BEGINNING AND CONTAINING
0.11 ACRES (4,745.59 SQUARE FEET).
LEGAL DESCRIPTION: 325 & 327 ELLIS STREET
ALL THA T CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY DATED NOVEMBER 9,1998, PREPARED
BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY, c
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT OF WAY OF 3RD STREET (RIW VARIES)
AND ELLIS STREET (RIW VARIES) AND CONTINUING WEST 400.79 FEET:t TO A #4
REBAR SET AND THE TRUE POINT OF BEGINNING; THENCE TURNING AND
CONTINUING ALONG THE NORTH RIGHT OF WAY OF ELLIS STREET NORTH 65
.DEGREES 58 MINUTES 54 SECONDS WEST A DISTANCE OF 47.00 FEET TO A #4
REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP
CALDWELL NORTH 24 DEGREES 00 MINUTES 08 SECONDS EAST A DISTANCE OF
112.97 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG
THE LINE OF N/F CROSS SOUTH 65 DEGREES 51 MINUTES 58 SECONDS EAST A
DISTANCE OF 49.25 FEET TOA 3/4 INCH CRIMPED TOP FOUND; THENCE TURNING
AND CONTINUING ALONG THE LINE OF 323 AND 323 1/2 ELLIS STREET SOUTH 25
DEGREES 08 MINUTES 36 SECONDS WEST A DISTANCE OF 112.89 FEET TO THE
TRUE POINT OF BEGINNING AND CONTAINING 0.12 ACRES (5,434,13 SQUARE
FEET).
LEGAL DESCRIPTION: 229 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY DATED OCTOBER 28, 1998, PREPARED
BY W.R. TOOLE ENGINEERS, INC:AND CERTIFIED BY STEVEN M, HARDY,
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GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HA VING THE FOLLOWING
METES AND BOUNDS TO WIT: .
BEGINNING AT THE NORTHWEST RIGHT OF WAY OF 2ND STREET(R!W VARIES)
AND ELLIS STREET (RIW VARIES) AND CONTINUING WEST ALONG THE NORTH
RIGHT OF WAY OF ELLIS STREET 482.85 FEET :t TO A #5 REBAR FOUND AND THE
TRUE POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE
NORTH RIGHT OF WAY OF ELLIS STREET NORTH 66 DEGREES 04 MINUTES 37
SECONDS WEST A DISTANCE OF 39.47 FEET TO A 1 INCH CRIMPED TOP FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF DOWNTOWN
AUGUSTA, INe. NORTH 24 DEGREES 12 MINUT~S 56 SECONDS EAST A DISTANCE
OF 101.67 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING
ALONG THE LINE OF DOWNTOWN AUGUSTA, INC. SOUTH 64 DEGREES 35
MINUTES 12 SECONDS EAST A DISTANCE OF 40.87 FEET TO A #5 REBAR FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP BIRD SOUTH 25
DEGREES 00 MINUTES 25 SECONDS WEST A DISTANCE OF 100.63 FEET TO THE
TRUE POINT OF BEGINNING AND CONTAINING 0.09 ACRES (4,062.79 SQUARE
FEET).
LEGAL DESCRIPTION: 104-106 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY DATED NOVEMBER 4, 1998, PREPARED
BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M, HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHWEST RIGHT OF WAY OF 1 ST STREET (R!W VARIES)
AND ELLIS STREET (R!W VARIES) BEING THE TRUE POINT OF BEGINNING AND
. CONTINUING ALONG THE WEST RIGHT OF WAY OF 1ST STREET SOUTH 24
DEGREES 44 MINUTES 10 SECONDS WEST A DISTANCE OF 138,67 FEET TO A #5
REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F DAVIS
AND NIP CARMAIN NORTH 65 DEGREES 35 MINUTES 29 SECONDS WEST A
DISTANCE OF 84.95 FEET TO A 3/4 INCH CRIMPED TOP FOUND; THENCE TURNING
AND CONTINUING ALONG THE LINE OF NIP TINLEY AND NIP NEWSOME NORTH 24
DEGREES 43 MINUTES 14 SECONDS EAST A DISTANCE OF 138.06 FEET TO A 3/4
INCH CRIMPED TOP FOUND; THENCE TURNING AND CONTINUING ALONG THE
SOUTH RIGHT OF WAY OF ELLIS STREET SOUTH 66 DEGREES 00 MINUTES 00
SECONDS EAST A DISTANCE OF 84.99 FEET TO THE TRUE POINT OF BEGINNING
AND CONTAINING 0.27 ACRES (11,756.37 SQUARE FEET).
LEGAL DESCRIPTION: 222 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
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ON AN ALTAlACSM LAND TITLE SURVEY DATED OCTOBER 29,1998, PREPARED
BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HA VIN:G THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHWEST RIGHT OF WAY OF 2ND STREET (R/W V ARIES)
AND ELLIS STREET (R/W V ARIES) AND CONTINUING WEST ALONG ELLIS STREET
348.65 FEET :t TO A RAILROAD SPIKE FOUND AND THE TRUE POINT OF
BEGINNING; THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F
WILLIAMS SOUTH 24 DEGREES 26 MINUTES 19 SECONDS WEST A DISTANCE OF
107.86 FEET TO A 3/4 OPEN TOP FOUND; THENCE TURNING AND CONTINUING
. ALONG THE LINE OF NIP DEMEDICIS NORTH 66 DEGREES 12 MINUTES 45 SECONDS
WEST A DISTANCE OF 49.61 FEET TO A 1/2 INCH OPEN TOP FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF NIP BAILEY NORTH 24 DEGREES
17 MINUTES 42 SECONDS EAST A DISTANCE OF 108,02 FEET TO A #5 REBAR
FOUND; THENCE TURNING AND CONTINUING ALONG THE SOUTH RIGHT OF WAY
OF ELLIS STREET SOUTH 66 DEGREES 01 MINUTE 14 SECONDS EAST A DISTANCE
OF 49.88 FEET TO THE TRUE POINT OF BEGINNING CONTAINING 0.12 ACRES
(5,369.21 SQUARE FEET).
LEGAL DESCRIPTION: 244 WALKER STREET
ALL THAt LOT OR PARCEL OF LAND, WITH IMPROVEMENTS THEREON, SITUATE,
LYING AND BEING IN THE CITY OF AUGUST A, RICHMOND COUNTY, GEORGIA,
FRONTING 50 FEET, MORE OR LESS, ON THE SOUTH SIDE OF WALKER STREET
BETWEEN HOUSTON (SECOND) AND LINCOLN (THIRD) STREETS AND EXTENDING
BACK IN A SOUTHERLY DIRECTION BETWEEN PARALLEL LINES A DISTANCE OF
132 FEET, MORE OR LESS, AND BEING KNOWN AND DESIGNATED AS LOT 115 ON A
PLAT RECORDED IN THE OFFICE OF THE CLERK OF SUPERIOR COURT OF
RICHMOND COUNTY, GEORGIA, IN REALTY BOOK 2F, PAGES 252 - 253, AND
BOUNDED AS FOLLOWS: ON THE NORTH, BY WALKER STREET; ON THE EAST, BY
LOT 114 OF SAID PLAT; ON THE SOUTH, BY LOT NOW OR FORMERL YOF THE
ESTATE OFW.T. DAVIDSON; AND ON THE WEST, BY LOT 116 OF SAID PLAT.
SAID PROPERTY IS KNOWN AND DESIGNATED AS 244 WALKERSTREET
ACCORDING TO THE SYSTEM OF STREET NUMBERING CURRENTLY IN USE IN
AUGUSTA, RICHMOND COUNTY, GEORGIA.
LEGAL DESCRIPTION: 236 AND 238 WALKER STREET
ALL THATLOT OR PARCEL OF LAND, WITH IMPROVEMENTS THEREON, SITUATE,
LYING AND BEING IN THE ~ITY OF AUGUST A, RICHMOND COUNTY, GEORGIA, ON
THE SOUTH SIDE OF WALKER STREET, BETWEEN HOUSTON (SECOND) STREET
AND LINCOLN (THIRD) STREETS, HAVING A FRONT AGE ON SAID WALKER STREET
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OF 40 FEET, MORE OR LESS, AND EXTENDING BACK IN A SOUTHERLY DIRECTION
OF EVEN WIDTH A DISTANCE OF 132 FEET, MORE OR LESS, AND BEING BOUNDED:
ON THE NORTH, BY WALKER STREET; ON THE EAST, BY LOT NOW OR FORMERLY
. OF MARY W. TERRILL; ON THE SOUTH, BY PROPERTY NOW OR FORMERLY OF H.S.
JONES; AND ON THE WEST, BY PROPERTY NOW OR FORMERLY OF EARL A.
ROOKS. SAID LOT BEING FORMERLY DESIGNATED AS LOT NO.8, BLOCK 4, WARD
1 ON THE PLAT BOOK OF THE CITY COUNCIL OF AUGUST A, BUT IS NOW .
DESIGNATED AS LOT NO.8, BLOCK 41, BLOCK A OF THE PRESENT CITY COUNCIL
OF AUGUSTA PLAT BOOK, AND BEING A PORTION OF THE PROPERTY CONVEYED
TO MRS. THELMA STEPHENS CORMAN, AlK/AMRS. THELMA STEPHENS KORMAN
BYVIRTUE OF A YEAR'S SUPPORT FROM THE ESTATE OF ALEX CORMAN AlK/A
ALEX KORMAN.
A MORE RECENT PLAT PREPARED BY TOOLE SURVEYING COMPANY FOR OLDE
TOWN PROPERTIES I, DATED MARCH 20, 1989 IS RECORDED IN THE OFFICE OF THE
CLERK OF SUPERIOR COURT OF RICHMOND COUNTY, GEORGIA, IN REALTY REEL
307, PAGE 714.
SAID PROPERTY IS KNOWN AND DESIGNATED AS 236-238 WALKER STREET
ACCORDING TO THE SYSTEM OF STREET NUMBERING CURRENTLY IN USE IN
AUGUSTA, RICHMOND COUNTY, GEORGIA.
LEGAL DESCRIPTION: 212 ELLIS STREET
ALL THAT LOT OR PARCEL OF LAND, WITH IMPROVEMENTS THEREON, SITUATE,
LYING AND BEING IN THE CITY OF AUGUSTA, RICHMOND COUNTY, GEORGIA,
BEGINNING AT A POINT ON THE SOUTH SIDE OF ELLIS STREET, WHICH POINT IS
150 FEET FROM THE INTERSECTION OF THE RIGHTS OF WAY OF SECOND STREET
AND ELLIS STREET AT THE SOUTHWESTERNMOST POINT OF INTERSECTION;
- THENCE TURNING SOUTH 25 DEGREES 1 MINUTE WEST AND RUNNING A
DISTANCE OF 135.25 FEET TO AN IRON PIPE; THENCE, TURNING NORTH 65
DEGREES 30 MINUTES WEST AND RUNNING A DISTANCE OF 48.7 FEET; THENCE,
TURNING NORTH 24 DEGREES 30 MINUTES EAST AND RUNNING A DISTANCE OF
24 FEET; THENCE TURNING SOUTH 65 DEGREES 30 MINUTES EAST AND RUNNING
A DISTANCE OF 3 FEET; THENCE, TURNING NORTH 24 DEGREES 30 MINUTES EAST
. AND RUNNING A DISTANCE OF 111.25 FEET TO A NAIL AND CAP IN THE
CONCRETE ON THE SOUTH SIDE OF ELLIS STREET; THENCE TURNING SOUTH 65
DEGREES 30 MINUTES EAST AND RUNNING A DISTANCE OF 47 FEET ALONG THE
SOUTH SIDE OF ELLIS.STREET TO THE POINT OF BEGINNING.
SAID PROPERTY IS DELINEATED ON A CERTAIN PLAT OF THE SAME PREPARED
. BY BOBBY G. PRICE, REGISTERED LAND SURVEYOR, A COPY OF WHICH IS
. ATTACHED TO AND INCORPORATED IN AN EXECUTOR'S DEED CONVEYING SAID
PROPERTY TO DOWNTOWN AUGUSTA, INC. DATED SEPTEMBER 15,1977 AND
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RECORDED IN THE OFFICE OF THE CLERK OF SUPERIOR COURT OF RICHMOND
COUNTY, GEORGIA, IN REALTY REEL 82, PAGES 459-461.
SAID PROPERTY IS THE SAME PROPERTY WHICH WAS CONVEYED TO GORDON W.
CHAMBERS BY WARRANTY DEED FROM JULIA R. COHEN DATED AUGUST 28, 1993
AND RECORDED IN REALTY BOOK 12Q, PAGE 228, IN THE CLERK'S OFFICE.
LEGAL DESCRIPTION 214 - 216 ELLIS STREET
ALL THAT LOT OR PARCEL OF LAND WITH IMPROVEMENTS THEREON, SITUATE.
LYING AND BEING IN THE CITY Of AUGUSTA, RICHMOND COUNTY, GEORGIA,
FRONTING 50 FEET MORE OR LESS ON THE SOUTH SIDE OF ELLIS STREET
BETWEEN HOUSTON (SECOND) AND LINCOLN (THIRD) STREETS, AND EXTENDING
BACK OF EVEN WIDTH 110 FEET, MORE OR LESS, AND BEING BOUNDED: ON THE
NORTH BY ELLIS STREET, ON THE EAST BY LOT NOW OR FORMERLY OF
CHAMBERS ON THE SOUTH BY LOT NOW OR FORMERLY OF MCCARRELL AND ON
THE WEST BY LOT NOW OR FORMERLY OF HOWARD ESTATE.
ALSO ALL THAT LOT OR PARCEL OF LAND WITH IMPROVEMENTS THEREON .
SITUATE, LYING AND BEING IN THE CITY OF AUGUSTA, RICHMOND COUNTY,:
GEORGIA, FRONTING 3 FEET ON THE SOUTH SIDE OF ELLIS STREET BETWEEN
HOUSTON (SECOND) AND LINCOLN (THIRD) STREETS AND EXTENDING BACK OF
EQUAL WIDTH 126 FEET AND BEING BOUNDED: ON THE NORTH BY ELLIS STREET,
ON THE EAST BY LOT NOW OR FORMERLY OF JULIA R. COHEN FROM WHICH THIS
STRIP WAS TAKEN ON THE SOUTH BY LOT NOW OR FORMERLY OF JULIA R.
COHEN AND ON THE WEST BY LOT NOT OR FORMERLY OF MATTIE M. SATCHER.
SAID PROPERTY IS KNOWN AND DESIGNATED AS 214-216 ELLIS STREET
ACCORDING TO THE SYSTEM OF STREET NUMBERING CURRENTLY IN USE IN
AUGUSTA, RICHMOND COUNTY, GEORGIA.
PROPERTY HEREINABOVE DESCRIBED AS 212 ELLIS STREET AND 214-216 ELLIS
STREET BEING THE SAME PROPERTY AS MORE PARTICULARLY DESCRIBED ON
THAT CERTAIN ALTAlACSM LAND TITLE SURVEY DATED NOVEMBER 12, 1998,
PREPARED BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662 AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHWEST RIGHT OF WAY OF 2ND STREET (R!W V ARIES)
AND ELLIS STREET (RIW VARIES) AND CONTINUING WEST A DISTANCE OF 151,0
FEET :t TO A #5 REBAR FOUND AND THE TRUE POINT OF BEGINNING; THENCE
TURNING AND CONTINUING ALONG THE LINE OF NIP BROWN SOUTH 25 DEGREES
07 MINUTES 02 SECONDS WEST A DISTANCE OF 135.25 FEET TO A 1 1/2 INCH OPEN
TOP FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP
PHILLIPS NORTH 65 DEGREES 26 MINUTES 31 SECONDS WEST A DISTANCE OF
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48.70 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG
THE LINE OF NIP SWEAT NORTH 24 DEGREES 19 MINUTES 50 SECONDS EAST A
DISTANCE OF 23.94 FEET TO A #4 REBAR SET; THENCE CONTINUING ALONG THE
LINE OF N/F SWEAT NORTH 64 DEGREES 24 MINUTES 49 SECONDS WEST A
DISTANCE OF 49.31 FEET TO A#5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIP WALTON NORTH 23 DEGREES 53 MINUTES
54 SECONDS EAST A DISTANCE OF 109.38 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE SOUTHERN RIGHT -OF- WAY OF ELLIS
STREET SOUTH 66 DEGREES 02 MINUTES 11 SECONDS EAST A DISTANCE OF 100,67
FEET TO A #5 REBAR FOUND AND THE TRUE POINT OF BEGINNING AND
CONTAINING 0.28 ACRES (12,170.34 SQUARE FEET)
LEGAL DESCRIPTION 211 & 213 BROAD STREET
ALL THAT LOT OR PARCEL OF LAND, WITH IMPROVEMENTS THEREON, SITUATE,
LYING AND BEING IN THE CITY OF AUGUST A, RICHMOND COUNTY, GEORGIA,
FRONTING 42 FEET, MORE OR LESS, ON THE NORTH SIDE OF BROAD STREET, AND
EXTENDING BACK BETWEEN PARALLEL LINES A DISTANCE OF 134 FEET, MORE
OR LESS, AND BEING DESIGNATED AS EXHIBIT "B" ON A PLAT ATTACHED TO AN
AWARD OF YEAR'S SUPPORT MADE TO MARY ALICE WISE FROM THE ESTATE OF
J. THOMAS WISE, APPEARING OF RECORD IN YEAR'S SUPPORT BOOK 2-J, PAGE 46,
IN THE OFFICE OF THE CLERK OF SUPERIOR COURT OF RICHMOND COUNTY,
GEORGIA, AND BEING BOUNDED: ON THE NORTH, BY PROPERTY NOW OR
FORMERLY OF T.F. BROADWATER; ON THE EAST, BY PROPERTY NOW OR
FORMERLY OF F.H. CASEY; ON THE SOUTH BY BROAD STREET; AND THE WEST,
BY PROPERTY NOW OR FORMERLY OF B.F. DAVIS.
SAID PROPERTY IS KNOWN AND DESIGNATED AT 211-213 BROAD STREET
ACCORDING TO THE SYSTEM OF STREET NUMBERING CURRENTLY IN USE IN
AUGUSTA, RICHMOND COUNTY, GEORGIA.
LEGAL DESCRIPTION 107 ELLIS STREET
ALL THAT LOT OR PARCEL OF LAND. WITH IMPROVEMENTS THEREON, SITUATE,
LYING AND BEING IN THE CITY OF AUGUSTA, RICHMOND COUNTY, GEORGIA, AT
THE NORTHEAST CORNER OF ELLIS AND FORSYTH STREETS, HAVING A FRONT
OF 40 FEET ON ELLIS STREET AND RUNNING BACK OF EVEN WIDTH 98 FEET,
MORE OR LESS, AND BEING BOUNDED AS FOLLOWS: ON THE NORTH, BY LOT,
NOW OR FORMERLY, OF MRS. KATE V. O'NEALL; ON THE EAST, BY PROPERTY,
NOW OR FORMERLY, OF CHARLES D.CARR; ON THE SOUTH, BY ELLIS STREET;
AND ON THE WEST, BY FORSYTHE STREET.
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SAID PROPERTY IS KNOWN AND DESIGNATED AS 107 ELLIS STREET ACCORDING
TO THE SYSTEM OF NUMBERING CURRENTLY IN USE IN AUGUSTA, RICHMOND
COUNTY, GEORGIA.
LEGAL DESCRIPTION 133 BROAD STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY, DATED OCTOBER 28, 1998, LAST
REVISED DECEMBER 7, 1998, PREPARED BY W.R. TOOLE ENGINEERS, INe., AND
CERTIFIED BY STEVEN M. HARDY, GEORGIA REGISTERED LAND SURVEYOR NO.
2662 AND HAVING THE FOLLOWING METES AND BOUNDS TO WIT:
. BEGINNING AT THE NORTHEAST RIGHT-OF-WAY OF 2ND STREET (RIW VARIES)
AND BROAD STREET (R!W VARIES) AND CONTINUING EAST ALONG THE NORTH
RIGHT-OF- WAY OF BROAD STREET 40 FEET::!: TO A #4 REBAR FOUND AND THE
POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE LINE OF
NIP IMAN, INe. & NIP BAIN NORTH 24 DEGREES 00 MINUTES 44 SECONDS EAST A
DISTANCE OF 137.92 FEET TO A POINT; THENCE TURNING AND CONTINUING _
ALONG THE LINE OF NIP DOWNTOWN AUGUSTA, INe. SOUTH 67 DEGREES 13 :
MNUTES 30 SECONDS EAST A DISTANCE OF 47.33 FEET TO A #5 REBAR FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP SW ANCY SOUTH 22
DEGREES 54 MINUTES 45 SECONDS WEST A DISTANCE OF 137.97 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE NORTH RIGHT-
OF-WAY OF BROAD STREET NORTH 67 DEGREES 07 MINUTES 49 SECONDS WEST A
DISTANCE OF 49.99 FEET TO THE POINT OF BEGINNING,
LEGAL DESCRIPTION 303 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY, DATED 11/9/98, PREPARED BY W.R.
TOOLE ENGINEERS, INe., AND CERTIFIED BY STEVEN M. HARDY, GEORGIA
REGISTERED LAND SURVEYOR NO. 2662 AND HAVING THE FOLLOWING METES
AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT-OF-WAY OF 3RD STREET (R!W V ARIES)
AND ELLIS STREET (R!W VARIES) AND CONTINUING WEST ALONG THE RIGHT OF
WAY OF ELLIS STREET 44.0 FEET::!: TO A 3/4 INCH OPEN TOP FOUND AND THE
POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE NORTH
RIGHT-OF- WAY OF ELLIS STREET NORTH 66 DEGREES 00 MINUTES 00 SECONDS
WEST A DISTANCE OF 40.31 FEET TO A #4 REBAR SET; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIP OLDE TOWN PROPERTIES NORTH 24
DEGREES 36 MINUTES 21 SECONDS EAST A DISTANCE OF 132.52 FEET TO A 5/8
INCH OPEN TOP FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE
23
F:\Documents\PRC\white oak\LEGAL DESCRIPTIONS.COMBINE4.doc
OF NIP BROWN SOUTH 65 DEGREES 40 MINUTES 17 SECONDS EAST A DISTANCE
OF 40.48 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING
ALONG THE LINE OF NIP DOWNTOWN AUGUSTA, INe. SOUTH 24 DEGREES 40
MINUTES 52 SECONDS WEST A DISTANCE OF 132.29 FEET TO THE POINT OF
BEGINNING AND CONTAINING 0.12 ACRES (5,347.50 SQUARE FEET).
LEGAL DESCRIPTION 240 ELLIS STREET
ALL THA T CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "B" ON AN ALTAlACSMLAND TITLE SURVEY, DATED 11/4/98,
PREPARED BY W.R. TOOLE ENGINEERS, INe., AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662 AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT -OF - WAY OF 3RD STREET (R!W V ARIES)
AND ELLIS STREET (R!W V ARIES) AND CONTINUING EAST ALONG THE SOUTH
RIGHT -OF -WAY OF ELLIS STREET 126.98 FEET::!: TO A #5 REBAR FOUND AND THE
POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE SOUTH
RIGHT-OF-WAY OF ELLIS STREET SOUTH 65 DEGREES 58 MINUTES 12 SECONDS:
EAST A DISTANCE OF 40.02 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF 238 ELLIS STREET SOUTH 23 DEGREES 13
MINUTES 03 SECONDS WEST A DISTANCE OF 133.97 FEET TO A #5 REBAR FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F DAVENPORT & NIP
BUCKLEY NORTH 64 DEGREES 28 MINUTES 07 SECONDS WEST A DISTANCE OF
40,62 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG
THE LINE OF 246 ELLIS STREET NORTH 23 DEGREES 27 MINUTES 57 SECONDS
EAST A DISTANCE OF 132.90 FEET TO THE POINT OF BEGINNING AND
CONTAINING 0.12 ACRES (5,377.60 SQUARE FEET).
LEGAL DESCRIPTION 238 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "A" ON AN ALTAlACSM LAND TITLE SURVEY, DATED 11/4/98,
PREPARED BY W.R. TOOLE ENGINEERS, INC., AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662 AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT-OF-WAY OF 3RD STREET (RIW VARIES)
AND ELLIS STREET (RIW V ARIES) AND CONTINUING EAST ALONG THE SOUTH
RIGHT-OF-WAY OF ELLIS STREET 167.00 FEET::!: TO A#5 REBAR FOUND AND THE
POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE SOUTH
RIGHT-OF-WAY OF ELLIS STREET SOUTH 66 DEGREES 02 MINUTES 19 SECONDS
24
F:\Documents\PRC\white oak\LEGAL DESCRIPTlONS.COMBINE4.doc
. .
EAST A DISTANCE OF 59.85 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIP BOLD SOUTH 24' DEGREES 26 MINUTES 51
SECONDS WEST A DISTANCE OF 134.34 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF NIP HAYES & NIP DAVENPORT
NORTH 65 DEGREES 39 MINUTES 41 SECONDS WEST A DISTANCE OF 56.98 FEET TO
A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF
240 ELLIS STREET NORTH 23 DEGREES 13 MINUTES 03 SECONDS EAST A DISTANCE
OF 133.97 FEET TO THE POINT OF BEGINNING AND CONTAINING 0.18 ACRES
(7,836.54 SQUARE FEET).
LEGAL DESCRIPTION 403 AND 405 WALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTA/ACSM LAND TITLE SURVEY, DATED 11/6/98, PREPARED BY W.R.
TOOLE ENGINEERS, INC., AND CERTIFIED BY STEVEN M. HARDY, GEORGIA
REGISTERED LAND SURVEYOR NO. 2662 AND HAVING THE FOLLOWING METES
AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT-OF-WAY OF 4TH STREET (R!W VARIES)
AND WALKER STREET (R!W V ARIES) AT A P.K. NAIL FOUND THE POINT OF
BEGINNING; THENCE TURNING AND CONTINUING ALONG THE NORTH RIGHT -OF-
WAY OF WALKER STREET NORTH 64 DEGREES 56 MINUTES 55 SECONDS WEST A
DISTANCE OF 100.28 FEET TO A #4 REBAR SET; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIP ZARGE NORTH 24 DEGREES 19 MINUTES 28
SECONDS EAST A DISTANCE OF 90.16 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF NIP NAOMI SOUTH 64 DEGREES
34 MINUTES 02 SECONDS EAST A DISTANCE OF 100.20 FEET TO A POINT; THENCE
TURNING AND CONTINUING ALONG THE WEST RIGHT-OF-WAY OF 4TH STREET
SOUTH 24 DEGREES 15 MINUTES 59 SECONDS WEST A DISTANCE OF 89.49 FEET TO
THE POINT-OF-BEGINNING AND CONTAINING 0.21 ACRES (9,002:57 SQUARE FEET).
LEGAL DESCRIPTION 246 ELLIS STREET .
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE'FULL Y SHOWN AND DESIGNATED
AS TRACT "C" ON AN ALTAlACSM LAND TITLE SURVEY DATED 11/4/98, PREPARED
BY W.R. TOOLE ENGINEERS, INe., AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO, 2662 AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT-OF-WAY OF 3RD STREET (RlWVARIES)
AND ELLIS STREET (RIW VARIES) 82 FEET::!: TO A #5 REBAR FOUND AND THE
POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE SOUTH
25
F:\Documents\PRC\white oak\LEGAL DESCRIPTIONS.COMBINE4.doc
NORTH, BY ELLIS STREET; ON THE EAST, BY PROPERTY NOW OR FORMERLY OF
BADGER; ON THE SOUTH, BY PROPERTY NOW OR FORMERLY OF MURPHEY; ON
THE WEST, BY PROPERTY NOW OR FORMERLY OF HARRISON.
SAID PROPERTY IS KNOWN AND DESIGNATED AS 204 ELLIS STREET ACCORDING
TO THE SYSTEM OF STREET NUMBERING CURRENTLY USED IN AUGUST A,
RICHMOND COUNTY, GEORGIA.
LEGAL DESCRIPTION: 306 2ND STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY DATED NOVEMBER 5, 1998, LAST
REVISED DECEMBER 7, 1998, PREPARED BY W. R. TOOLE ENGINEERS, INe., AND
CERTIFIED BY STEVEN M. HARDY, GEORGIA REGISTERED LAND SURVEYOR NO.
2662 AND HAVING THE FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT-OF-WAY OF ELLIS STREET (RIWVARIE.S)
AND 2ND STREET (RIW VARIES) AND CONTINUING SOUTH 39 FEET :t TO A #5
REBAR FOUND AND THE POINT OF BEGINNING; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIP PETTIGREW SOUTH 70 DEGREES 47
MINUTES 28 SECONDS EAST A DISTANCE OF 82.81 FEET TO A 1 1/2 INCH OPEN TOP
FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP RAMBO &
NIP WEATHERS SOUTH 19 DEGREES 27 MINUTES 24 SECONDS WEST A DISTANCE
OF 43.62 FEET TO POINT; THENCE TURNING AND CONTINUING ALONG THE LINE
OF NIP WRIGHT NORTH 70 DEGREES .15 MINUTES 37 SECONDS WEST A DISTANCE
OF 19.31 FEET TO A POINT; THENCE TURNING AND CONTINUING SOUTH 18
DEGREES 57 MINUTES 16 SECONDS WEST A DISTANCE OF 4.58 FEET TO A POINT;
THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP WRIGHT NORTH 70
DEGREES 43 MINUTES 46 SECONDS WEST A DISTANCE OF 65,26 FEET TO A PUNCH
IN CONCRETE; THENCE TURNING AND CONTINUING ALONG THE EAST RIGHT-OF-
WAY OF 2ND STREET NORTH 21 DEGREES 31 MINUTES 05 SECONDS EAST A
DISTANCE OF 47.98 FEET TO THE POINT OF BEGINNING.
LEGAL DESCRIPTION: 515 3RD STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY DATED 11/4/98, PREPARED BY W. R.
TOOLE ENGINEERS, INC., AND CERTIFIED BY STEVEN M. HARDY, GEORGIA
REGISTERED LAND SURVEYOR NO. 2662 AND HAVING THE FOLLOWING METES
AND BOUNDS TO WIT:
27
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BEGINNING AT THE NORTHWEST RIGHT-OF-WAY OF WALKER STREET (R!W
V ARIES) AND 3RD STREET (R!W V ARIES) AND CONTINUING NORTH ALONG THE
WEST RIGHT-OF - WAY OF 3RD STREET 61.59 FEET :t TO A #4 REBAR SET THE POINT
OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP
FLANAGAN NORTH 66 DEGREES 25 MINUTES 27 SECONDS WEST A DISTANCE OF
73,64 FEET TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE
LINE OF NIP WIGGINS NORTH 23 DEGREES 44 MINUTES 48 SECONDS EAST A
DISTANCE OF 46.83 FEET TO A 5/8 INCH OPEN TOP FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIP RICHARDS SOUTH 65 DEGREES 55 MINUTES
31 SECONDS EAST A DISTANCE OF 73.39 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE WEST RIGHT-OF-WAY OF 3RD STREET
SOUTH 23 DEGREES 26 MINUTES 22 SECONDS WEST A DISTANCE OF 46.19 FEET TO
THE POINT OF BEGINNING AND CONTAINING 0.08 ACRES (3,419.07 SQUARE FEET).
28
F:\Documents\PRC\white oak\LEGAL DESCRIPTIONS.COMBINE4.doc
Street Apt Tena nt Tenant Newt Lease Exp
Addr... -- 11- Name Occ:? Renew Per L8U8 ~r Rent Rol Type
269 Greene r;Je e 0003.02 Epps. Anthony 'I old 111301G7 4130/98 2/1 M
264 Walker- we E! 0013.01 Home, Char1es 'I R 9f.30191 900/97 1/1 M
264 Walker- Qle C 0014.02 Brannon,Charise 'I R 4130/98 4130/98 1/1 M
101-103 Rrst Stre ",e 103 0026.06 Aiken, Fred 'I R 1113OJS7 111301G7 1/1 M
211-213 ails g/e 2'138 0052.03 Jones. Maria If no lease 8fJO,1g8 1/1 M
215 ElIls gJe 215 0055.04 Gordon, Alvin 'I N 12131 tee 12131198 312 S
228 Telfair Qle B 0065. (B Jeffrey Benson y old 1 0t31 1tl7 9/30/98 1/1 M
f:
r EX-'~il rili".~B---
Page 1 of 1
.\
GUARANTY OF COMPLETION
This Guaranty is given December 2-71 , 1998, to the Georgia
.Augusta, Georgia, a political subdivision of the State of
Georgia ("Lender") by Paula J. Ryan ("Guarantor") for the
obligations of aIde Town Associates, L. P., a Georgia limited
partnership ("Borrower")
WIT N E SSE T H:
WHEREAS, Lender
up to $1,137,000.00
Ag'reement (t'he "Loan
promissory .'note in
(the "Note"); and
has agreed to make a loan (the "Loan") of
to Borrower under a Rehabilitation Loan
Agreement"), which Loan is evidenced by a
the original face amount of $1,137,000.00
WHEREAS, Borrower is going to use the proceeds of the Loan
to acquire 116 units of. rental .housing located on 49 different
parcels of real property located in Richmond County, Georgia
(collectively, the "Improvements"), which real property is more
particularly described in the attached Exhibit A and which
Improvements are to be rehabilitated with funds supplied in part
by.the City of Augusta; and
WHEREAS, the Loan is secured by (among other things) one or
more Deeds to Secure Debt and Security Agreements (collectively,
the "Security Deed I') from Borrower to Lender and one or more
assignments of rents, leas~s, and security deposits
(collectively, the "Lease Assignment") from Borrower to Lender;
and
WHEREAS, Lender is unwilling to make the Loan to Borrower
without this Guaranty;
NOW, THEREFORE, in consideration of Lender's entering into
the Loan Agreement and making the Loan to Borrower, Guarantor
hereby covenants and agrees with Lender as follows:
1. Definitions. For purposes of this Guaranty, the
following terms shall have the following meanings. Capitalized
terms that are not defined in this Guaranty shall have the same
meaning as in the Loan Agreement:
(a) "Guarantied Obligations" include the Indebtedness and
the other obligations set forth in paragraph 2;
(b) "including" means "including
unless otherwise specifically provided;
(but not limited to) 11
(c) "Indebtedness" is all amounts owed under the Loan
Documents and this Guaranty;
(d) "Loan Documents" means
Security Deed, Lease Assignment,
instruments relating in any way to
the
and
the Loan;
Loan Agreement, Note,
all other agreements or
(e) "Work" has the same meanlng as In the Loan Agreement,
but generally speaking is the rehabilitation of the Improvements
in accordance wi th the Plans and Speci f ications (as defined in
the Loan Agreement), as they may be changed from time to time.
2. Guarantied Obligations. To induce Lender to make the
Loan to Borrower, Guarantor hereby unconditionally and
irrevocably guaranties to Lender the prompt and complete
performance of Borrower's obligations in the Loan Agreement to:
(a) complete, and pay the cost of completing, the Work by
the Completion Date in accordance with the Development Cost
Schedule, the Completion Schedule, and the Plans and
Specifications (including any changes In those Plans and
Specifications that may be made from time to time), free and
~lear of all defects and liens and in compliance with all
applicable Requirements;
(b) pay all expenses, charges, costs, and fees of or
relating to the Work, including all permitting fees, licensing
fees, amounts payable under the Construction Contract and all
subcontracts, and amounts payable to all architects, engineers,
and other consultants engaged in connection with the Work;
(c) pay immediately upon demand by Lender all
required to maintain or bring the Loan "in balance," as
under Section 3.20 of the Loan Agreement; and
amounts
required
(d) if a defaul t or .an Event of Default occurs under the
Note or other Loan Documents, pay immediately upon demand any
sum or sums due to Lender under the Note or any of the other
Loan Documents.
3. Completion. Completion of the Work shall be deemed to
occur when Lender or its inspector, representati ve, or
consultant has approved the completed Work described in the
plans and Specifications and received a copy of the final
certificate of occupancy issued by the appropriate governmental
r::\Documcnts CAR\\Vhitc Oak\Oldc Town\city.guarallly.doc
2
authority or, if due to the nature of the Work, a certificate of
occupancy will not be issued, such other satisfactory proof of
completion as Lender deems adequate.
4. Nature of Guarantor's Obligations. This Guaranty and
Guarantor's liabilities and obligations under it are absolute,
unconditional, and irrevocable by Guarantor under all
circumstances.
Guarantor's liability under this Guaranty is a guaranty of
completion, payment, and performance and not of collectibility,
and is not contingent on the genuineness, validity, regularity,
or enforceability of the Loan Documents or other instruments
relating to the creation or performance of the Guarantied
Obligations, or Lender's exercise of any remedies that it now
has or may later have under the Loan Dopuments, at law, in
equity, or otherwise. Guarantor shall be liable even if Borrower
had no liability at the time of execution of any of the Loan
Documents or thereafter ceases to be liable.
Guarantor acknowledges and agrees that Guarantor may be
required to perform the Guarantied Obligations *even though the
Loan has fully matured with the outstanding principal balance
fully due and payable and Borrower is in default of its
obligation to pay the full amount due under the Note.
Guarantor acknowledges that Guarantor's liability may be
larger in amount and more burdensome than that of Borrower.
Guarantor I s liability under this Guaranty shall not be limited
or affected in any way by any impairment or any diminution or
loss of value of any security or collateral for the Loan
(whether caused by hazardous substances or otherwise), Lender's
failure to perfect a security interest or security title in any
security or collateral, or any disability or other defense of
Borrower or any other guarantor.
Guarantor I s obligations under this Guaranty shall not be
released (in whole or in part) by any action or omission which
might, but for this, paragraph, be deemed a legal or equitable
discharge or release of a surety or guarantor, and Guarantor
hereby waives any such right of discharge or release. Without
limiting the generality of the foregoing, Guarantor shall
continue to be liable under. this Guaranty and the provisions of
this Guaranty shall remain in full force and effect
notwithstanding any of the following:
(a)
proceed
any action or omission of Lender or Lender's failure to
promptly or otherwise, whether or not such action,
F:\Documents\CAR\White Oak\Olde Town\city.guaranty.doc
3
omission, or failure varies or increases the risk or affects the
rights or remedies of Guarantor;
(b) any modification, amendment, agreement, or stipulation
between Borrower and Lender, or their respective successors and
assigns, concerning the Loan Documents or the obligations
encompassed by them, including the Guarantied Obligations;
(c) any modification of or amendments or addenda to
Plans and Specifications,. Completion Schedule, Development
Schedule, Construction Contract, or any subcontract;
the
Cost
(d) Lender's waiver of or failure
terms, covenants, or conditions contained
as they may be modified from time to time;
to enforce any of the
in the Loan Documents,
(e) any modification, extension, or renewal of the time of
payment of all or part of the Indebtedness, whether or not
longer than the original period, or any discharge or release of
Borrower or any other guarantor from any liability for any or
all of the Guarantied Obligations;
( f ) any
subordination
held by Lender
Obligations;
discharge, release, exchange, surrender, or
of any interest in any real or personal property
as security for the performance of the Guarantied
(g) any taking of additional security for the Guarantied
Obligations, whether real. or personal property;
(h) any foreclosure or other realization on any security
for the Guarantied Obligations, regardless of the effect upon
Guarantor's subrogation, contribution, or reimbursement rights
against Borrower or any other guarantor;
( i ) the
any 1 ien or
doing so;
failure to perfect or continue the perfection of
security interest in any collateral or delay in
(j) any additional loans or financial accommodations to
Borrower;
(k) the failure to exercise due diligence or to enforce any
right, remedy, power, or privilege under the Loan Documents;
(1) the application of any payment received by Lender from
Borrower in any manner Lender elects.
. . 4
F:\Documents\CAR\White Oak\Olde Town\city.guaranty.doc
Guarantor hereby waives and surrenders any defense to
liability based upon any such action or omission and shall be
deemed to have consented to any such action, omission, or
failure. Lender may take any such action or omit or fail to act
in such manner without any notice to or consent of Guarantor.
Guarantor shall not be released from the obligations under this
Guaranty if Lender is required by agreement or law to give
notice to any other person and fails to do so.
5. Exhaustion of Remedies Not Required. Lender may enforce
this Guaranty without resorting to or exhausting any collateral
or other security for the Loan and without first suing or
otherwise pursuing Borrower or any other guarantor. Guarantor
hereby waives any right Guarantor may have to require Lender to
proceed against Borrower (including any rights Guarantor may
have under the provisions of O.C.G.A. 10-7-24), to proceed
against any other guarantor, to foreclose any lien on any real
or personal property, to exercise any right or remedy under the
Loan Documents, or to pursue any other remedy or to enforce any
other right.
6. Waiver of Rights.
(a) Guarantor shall not exercise any subrogation,
indemnification, contribution, or reimbursement rights against
Borrower, against another guarantor or any other person or
entity, or against any collateral or security for any of the
Guarantied Obligations until the Guarantied Obligations have
been paid and performed in full, all obligations owed to Lender
under the Loan Agreement have been fully performed, and Lender
has released, transferred, or disposed of all of its right,
title, and interest in such collateral or security. Lender may
use, sell, or dispose of any item of collateral or security as
it sees fit without regard to any subrogation rights of
Guarantor, and upon disposition or sale of any such items, all
rights of subrogation relating to those items shall terminate.
(b) Guarantor waives all rights and defenses arising out of
an election of remedies by Lender, even though that election of
remedies has destroyed the Guarantor's rights of subrogation and
reimbursement against the principal or another guarantor.
(c) Guarantor waives any right to notices to Guarantor or
Borrower or other formalities, including notice of the execution
and delivery of the Loan Documents, notice of acceptance of this
Guaranty by Lender, notice of all extensions of credit to
F:\Documents\CAR\White Oak\Olde Town\city.guaranty.doc
5
Borrower by Lender,presentment and demand for payment of any of
the Indebtedness, protest and notice of dishonor or of default
or nonpayment, notice of Lender's obtaining, amending,
substituting for, releasing, waiving, or modifying any security
interest, lien, or encumbrance securing the Guarantied
Obligations, or Lender's subordinating, compromising,
discharging, or releasing such security interests, liens, or
encumbrances.
(d) Guarantor waives any benefit of or right to participate
in any collateral or security held by Lender for the Guarantied
Obligations, even upon payment in full of the Indebtedness.
(e) Guarantor waives the benefit of any statute of
limitations affecting Guarantor's liability under. this Guaranty.
(f) Guarantor waives the benefit of all principles or
provisions of law that conflict with the terms of this Guaranty.
(g) No other provision of this Guaranty shall be construed
as limiting the generality of any of the covenants and waivers
set forth in this paragraph 6. If a court determines that the
waiver of Guarantor1s rights of subrogation, reimbursement, and
contribution as set forth above is void or voidable by Guarantor
for any reason, Guarantor agrees that Guarantor1s rights of
subrogation and reimbursement against Borrower and Guarantor 's
rights of subrogation against any collateral or security shall
be junior and subordinate to any rights Lender may have against
Borrower and to all rights, title, and interest Lender may have
in that collateral or security, and Guarantor's rights of
contribution against any other guarantor shall be junior and
subordinate to any rights Lender may have against such other
guarantor.
7. Other Remedies Reserved.
(a) Guarantor agrees that nothing in this Guaranty shall
prevent Lender from suing on the Note or from exercising any
rights and remedies available to it under the Note or under any
of the other Loan Documents and that the exercise of any of
those rights and remedies shall not constitute a legal or
equitable discharge or release of Guarantor.
(b) With respect to the foreclosure of any security
interest in any personal property collateral securing the
Guarantied Obligations, Lender agrees to give Guarantor 5 days.
prior written notice in the manner set forth in paragraph 20 of
any sale or disposition of any such collateral, other than
F:\Documents\CAR\ White Oak\Olde Town\city.guaranty.doc
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collateral that is
value, is a type
consists of cash,
the like.
perishable, threatens to declin~ speedily
customarily sold on a recognized market,
cash equivalents, certificates of deposit,
in
or
or
(1) Guarantor's sole right in any foreclosure of real
or personal property collateral shall be to bid at the sale in
accordance with applicable law.
(2) Guarantor
also bid at any such
Lender in full or in
Obligations, Guarantor
in the collateral.
acknowledges and agrees that Lender may
sale and if the collateral is sold to
partial satisfaction of the Guarantied
shall have no further right or interes.t
(3) Notwithstanding anything to the contrary contained
in this Guaranty, no provision of this Guaranty shall be deemed
to limit, decrease, or in any way to diminish any rights of set-
off Lender may have for any cash, cash equivalents, certificates
of deposit, letters of credit, or the like that may now or later
be deposited with Lender by Borrower.
(c) To the extent any dispute exists at any time between
Guarantor and any other guarantor of the Guarantied Obligations
as to Guarantor's or any other guarantor's right to contribution
or otherwise, Guarantor agrees 'to indemnify Lender against any
liability, claim, or expense (including reasonable attorneys'
fees and litigation costs) Lender may incur as a result of that
dispute.
(d) Guarantor's obligations under this Guaranty shall not
be altered, limited, or affected by any voluntary or involuntary
case involving the . bankruptcy, insolvency, receivership,
reorganization, liquidation, or arrangement of Borrower or by
any defense that Borrower may have by reason of the order,
decree, or decision of any court or administrative body
resulting from any such case. So long as any part of the
Guarantied Obligations is owing to Lender, Guarantor shall not
begin or join with anyone in beginning any bankruptcy,
reorganization, receivership, or insolvency proceeding by or
against Borrower.
(1) As between Guarantor and Lender, Lender shall have
the sole right to accept or rej ect any plan proposed in such
case and to take' any other action which Guarantor would be
entitled to take, including the decision to file or not file a
claim.
F:\Documents\CAR\ White Oak\Olde Town\city.guaranty.doc
7
(2) Guarantor acknowledges and agrees that any
interest on the Guarantied Obligations that accrues after any
such proceeding is begun (or, if interest on any portion of the
Guarantied Obligations ceases to accrue by operation of law
because such proceeding has begun, such interest as would have
accrued if those proceedings had not begun) shall be included in
the Guarantied Obligations, because it is the parties' intention
that the Guarantied Obligations should be determined and
calculated without regard to any rule, law, or order that may
relieve Borrower of any portion of the Guarantied Obligations.
Lender shall be permitted to receive payment of any such
interest from any trustee in bankruptcy , receiver, debtor- in-
possession, assignee for the benefit of creditors or similar
Person.
right to
receiver,
creditors,
protection
(3) Guarantor hereby assigns to Lender Guarantor's
receive any payments from any trustee in bankruptcy,
debtor-in-possession, assignee for the benefit of
or similar Person by way of dividend, adequate
payment, or otherwise.
(4) If a claim is made against Lender for the
repayment or recovery of any part of the Guarantied Obligations,
and Lender repays all or part of such amount due to a judgment,
decree, or order of court or administrative body or due to a
settlement or compromise (collectively, an "Order"), Guarantor
shall be obligated to Lender under this Guaranty for the amount
repaid by Lender as if such amount had never been paid by
Borrower or received by Lender. Any such Order shall be binding
and conclusive upon Guarantor, notwithstanding the termination
of this Guaranty or the cancellation of the Note or any other
instrument evidencing or relating to the Guarantied Obligations.
8. Account Stated. Guarantor agrees that the books and
records of Lender showing the account between Lender and
Borrower shall be admissible in evidence in any action or
proceeding, shall be binding upon Guarantor for the purpose of
establishing the items in the books and records, and shall
constitute prima facie proof of the.. amount and any other facts
stated in the books and records.
9. Financial Statements. Guarantor warrants and represents
that any financial statements Guarantor has given. Lender were
true and correct in all respects and did not omit any material
information. The statements were prepared in accordance with
generally accepted accounting principles, consistently applied,
and fairly present the financial position of Guarantor as of
. their date or dates. Guarantor further warrants and represents
F:\Documents\CAR\White Oak\Olde Town\city.guaranty.doc
8
that no material
financial position
given to Lender.
adverse change has occurred in Guarantor's
since the date of the most recent statement
During the term of this Guaranty, on an annual basis within
180 days after the end of the calendar year, Guarantor shall
provide Lender with the same kind of financial statements (and
in the same format) as provided to Lender in connection with the
Application, which Guarantor must certify as correct and
comp'lete. Upon request, Guarantor will promptly furnish Lender
with other financial statements and other information concerning
Guarantor's financial conditlon
10. Borrower's Financial Condition. Now and in the future,
Lender has no obligation to investigate the financial condition
or affairs of Borrower for Guarantor's benefit or to advise
Guarantor about Borrower's financial condition or any change in
it, whether or not Lender knows or believes or has reason to
know or believe that any fact or change is unknown to Guarantor
or might (or does) materially increase the risk of Guarantor or
might (or would) affect the willingness of Guarantor to continue
as .. guarantor.
Guarantor is fully aware of the financial condition of
Borrower. Guarantor delivers this Guaranty based solely on
Guarantor's own independent investigation and in no part upon
any representation or statement of Lender with respect to the
financial condition of Borrower. Guarantor is in a position to
and assumes full responsibility for obtaining any additional
information concerning Borrower's financial condition as
Guarantor may deem material to the obligations under this
Guaranty, and Guarantor is not relying upon, nor expecting
Lender to furnish Guarantor with, any information in Lender's
possession concerning Borrower's financial condition. Guarantor
knowingly accepts the full range of risk encompassed within a
contract of "continuing guaranty, II including the possibility
that Borrower will incur obligations for which Guarantor.will be
liable under this Guaranty after Borrower's financial condition
or ability to pay its lawful debts has deteriorated.
11. Term of Guaranty. This Guaranty shall continue in full
force and effect until the completion of the Work (as set forth
in paragraph 3) and Guarantor's payment of all amounts owed
under this Guaranty. At that time and only at that time shall it
terminate.
12. Warranties. Guarantor warrants and represents to Lender
that:
F:\Documents\CAR\White Oak\Olde Town\city.guaranty.doc
9
(a) Guarantor is a shareholder of the managing general
partner of Borrower;
(b) Guarantor will directly and materially benefit from
Lender's making of the Loan to Borrower;
(c) no consent of any other Person, including any creditors
of Guarantor, and no license, permit, approval, or authorization
of, exemption by, notice or report to, or registration, filing,
or declaration with any governmental authority is required by
Guarantor in connection with this Guaranty or its execution,
delivery, performance, validity, or enforceability and all
obligations required under it;
(d) this Guaranty has been duly execu~ed and delivered by
Guarantor and constitutes the legally valid and binding
obligation of Guarantor enforceable against Guarantor in
accordance with its terms.
(e) the execution and delivery of this Guaranty do not
violate or constitute a breach of any agreement or instrument to
which Guarantor is a party, any order, judgment, award, or
decree of any court, arbitrator, or governmental authority
binding on Guarantor, or any applicable laws;
(f) there is no litigation, claim, action, or
pending or, to the best knowledge of Guarantor,
against Guarantor that would materially adversely
financial condition of Guarantor or Guarantor's
fulfill the Guarantied Obligations;
proceeding
threatened
affect the
ability to
(g) Guarantor has and will continue to have access to all
information concerning the Loan and the transactions
contemplated by the Loan Agreement, the value, nature, and
status of Borrower I s assets, Borrower's financial status, and
its ability to pay the Indebtedness and perform its other
obligations to Lender;
(h) Guarantor has reviewed and approved copies of the
Application, Loan Documents, Development Cost Schedule, and
Plans and Specifications and knows and understands the remedies
that Lender may exercise if there is a default or Event of
Default under the Loan Documents and is satisfied with all of
the items and conditions of those Loan Documents, including the
terms of payment and the conditions under which the maturity of
the Loan and the Other Guarantied Obligations may be
accelerated. In executing and delivering this Guaranty,
Guarantor has relied on her own review of the Loan Documents and
F:\Documents\CAR\ White Oak\Olde Town\city.guaranty.doc
10
not on any representation or statement of Lender or any other
person; and
(i) as long as this Guaranty is in force, Guarantor shall
keep informed about Borrower's financial condition and its
performance of its obligations under the Loan Documents.
Guarantor also warrants and represents that, as of the date
of execution and delivery of this Guaranty: the fair saleable
value of Guarantor's assets exceeds the amount of her
liabilities; Guarantor is meeting her current liabilities as
they mature; no court or administrati ve proceedings or
undischarged judgments are pending against Guarantor; no federal
or state tax liens have been filed or threatened against
Guarantor; and Guarantor is not in default or claimed default
under any agreement for borrowed money. Guarantor shall
immediately give Lender written notice of any material adverse
changes in Guarantor's financial condition (including any
litigation commenc.ed, tax liens filed, defaults claimed under
any of Guarantor's debts for borrowed money or bankruptcy
proceedings relat.ing to Guarantor commenced by Guarantor or any
third party) .
13. Attorney's Fees and Costs. If any dispute or litigation
regarding the enforcement or validity of this Guaranty occurs,
Guarantor shall be obligated to pay all charges, costs, and
expenses (including reasonable attorneys' fees) actually
incurred by Lender, whether or not any action or proceeding is
commenced concerning that dispute and whether or not that
litigation is prosecuted to judgment. Such amounts shall be in
addition to any other amounts that Guarantor may owe and shall
be payable on demand. If Lender has paid any such amounts and is
seeking reimbursement, the amount paid by Lender shall bear
interest at the Default Rate (as set forth in the Note) from the
date of Lender's. payment until it is reimbursed in full, and
Guarantor's payment to Lender shall include such interest.
14. Events of Default. The occurrence of anyone or more of
the following events shall constitute an event of default (an
"Event of Default") under this Guaranty:
(a) the failure of Guarantor to perform, observe, or comply
with any of the provisions of this Guaranty;
(b) the occurrence of a
any of the Loan Documents;
default or Event of Default under
F:\Documents\CAR\White Oak\Olde Town\city.guaranty.doc
11
(c) any materially false, inaccurate, or misleading
information in any financial statement, the Application, or any
schedule, report, or other document Guarantor has given Lender;
(d) the inability of Guarantor to pay her debts as they
mature;
(e) the filing by or against Guarantor of any petition for
relief under any provision of Title 11 of the United States Code
or any similar federal or state statute; or
(f) the death of Guarantor.
15. Remedies,. Upon the occurrence of an Event of Default
under the Loan Documents or this Guaranty, Lender may exercise
any remedy it has under the Loan Documents and this Guaranty: In
addition to all of Lender's other rights under this Guaranty and
under the Loan Documents, Lender shall have the right,
exercisable in its sole discretion, to either require Guarantor
to complete the proj ect, to complete the proj ect itself, or to
cause the Project to be completed by a third party.
(a) If Lender elects to complete the Project itself or to
cause a third party to complete the Project, Guarantor shall pay
Lender immediately upon demand an amount equal to the difference
between the actual costs incurred by Lender in completing the
rehabilitation of the Project (collectively, the "Project
Costs"), including all licensing fees, permitting fees, amounts
payable under the Construction Contract or other general
construction contract and all subcontracts, and amounts payable
to any architect, engineer, or other consultant engaged in
connection with the rehabilitation of the proj ect, minus the
amount of Loan proceeds that is undisbursed as of the date of
the Event of Default (the "Undisbursed Loan") and amounts (if
any) disbursed by the City of Augusta to Lender for proj ect
Costs after the Event of Default or applied by the City of
Augusta to Project Costs incurred after the Event of Default.
(b) For purposes of this paragraph 15,
Costs" shall not include any amounts
Development Cost Schedule for interest,
leasing commissions, marketing expenses,
real estate taxes and insurance, finders'
directly related to rehabilitation of the
cost contingencies not directly related to
Project.
the term "proj ect
allocated in the
operating deficits,
tenant concessions,
fees, legal fees not
Project, or indirect
rehabilitation of the
F:\Documents\CAR\ White Oak\Olde Town\city.guaranty.doc
12
(c) If Lender elects to require Guarantor fo complete the
proj ect, upon the full performance of all of the Guarantied
Obligations, Lender shall pay Guarantor an amount equal to the
cost actually and reasonably incurred by Guarantor in completing
rehabilitation in acco:r::dance with the terms of this Guaranty,
but in no event shall that payment exceed the Undisbursed Loan.
16. Security Interest. Guarantor grants Lender a security
interest in any personal property of Borrower in which Guarantor
hereafter acquires any right, title, or interest. Guarantor
agrees that such security interest shall be additional security
for the Guarantied Obligations and shall be. superior to any
right of Guarantor in that personal property until all
Guarantied Obligations have been fully satisfied. Guarantor also
grants Lender a security interest in any assets of Guarantor
(incl uding deposit accounts) that are in or come into Lender's
possession, custody, or control. If an Event of Default occurs,
in addition to whatever other remedies Lender may have as a
secured party, Lender may (without notice to Guarantor)
liquidate any such asset and apply the proceeds plus any cash it
may have been holding to the damages incurred by Lender due to
the default, including any costs of completing the
rehabilitation of the Project. For purposes of further securing
this Guaranty, Grantor also grants Lender a security interest in
any collateral or security that Guarantor has given Lender in
connection with any other obligation owed to Lender.
17. Cumulative Rights. All rights of Lender under this
Guaranty or under any of the Loan Documents are separate and
cumulative and may be pursued separately, successively, or
concurrently, or not pursued without affecting or limiting any
other right of Lender and without affecting or impairing the
liability of Guarantor.
18.. Assignment. Without notice to or consent of Guarantor,
Lender may assign. this Guaranty with any of the Loan Documents
without in any way affecting Guarantor's liability under this
Guaranty. The assignee, transferee, or holder shall have the
right to enforce this Guaranty as fully as Lender, provided that
Lender shall continue to have the unimpaired right prior and
superior to that of any such assignee, transferee, or holder to
enforce this Guaranty as to so much of the Guarantied
Obligations that it has not sold, assigned, or transferred.
19. Successors and Assigns. This Guaranty shall bind
Guarantor and her heirs, executors, administrators, legal
representatives, successors, and assigns and sha~l inure to the
benefit of, and be enforceable by, Lender and its successors and
F:\Documents\CAR\White Oak\Olde Town\city.guaranty.doc
13
assigns, including any holder of any of the Loan Documents. This
Guaranty shall be effective with respect to loans or advances
. made by Lender's successors and assigns to Borrower.
20. Notices. Any notice required or permitted under this
Guaranty shall be in writing and shall be hand delivered or
mailed, certified mail, return receipt requested, postage
prepaid, to the following addresses. Notices shall be deemed
given and received upon hand delivery or 3 days after deposit in
the United States mail.
If to Guarantor:
Paula J. Ryan
322 Banyan Blvd.
West Palm Beach, Florida 33401
If to Lender:
Augusta, Georgia
530 Greene Street
Augusta, Georgia 30911
Attention: Charles R. Oliver
A party may change the address for notices by sending noti~e of
change of address to the other party in accordance with this
section.
21. Amendment. This Guaranty may be terminated, amended,
supplemented, waived, released, or modified only by an
instrument in writing signed by the party against whom
enforcement of the termination, amendment, supplementation,
waiver, release, or modification is sought.
22. Governing Law. This Guaranty shall be construed,
interpreted, and enforced in accordance with Georgia law.
23. Miscellaneous. The pronouns used in this instrument
shall be construed as masculine, feminine, or neuter as the
occasion may require. Captions are for reference ~nly and in no
way affect the terms of this: Guaranty. Wherever possible, each
provision of this Guaranty shall be interpreted to be effective
and valid under applicable law, but invalidation of anyone or
more provisions of this Guaranty shall not affect any of the
other provisions, which shall remain in full force and effect.
All references to any document, instrument, or agreement shall
be deemed to refer to such document, instrument, or agreement as
it may be amended, modified, restated, supplemented, or replaced
F:\Documents\CAR\White Oak\Olde Town\city.guaranty.doc
14
from time to time. This Guaranty embodies the entire agreement
between the parties concerning the matters set forth in it and
supersedes all prior agreements between the parties concerning
those matters. No course of prior dealing between the parties,
no usage of trade, and no parol or extrinsic evidence of any
nature shall be used to supplement, modify, or vary any of the
terms of this Guaranty. There are no conditions to the full
effectiveness of this Guaranty. No failure or delay on the part
of Lender to exercise any power, right, or privilege under this
Guaranty or the Loan Documents shall impair any such power,
right, or privilege or be construed to be a waiver of any
defaul t or an acquiescence in any default, and any single or
partial exercise of such power, right, or privilege shall not
preclude other or further exercise of it or of any other right,
power, or privilege. If Guarantor is in default, Lender may join
Guarantor in any action against Borrower, and Guarantor hereby
consents to venue and jurisdiction in any court where such
action may be brought.
24. Guaranties Cumulative. This Guaranty is in addition to
all other guaranties of Guarantor and any other guarantors of
Borrower's obligations to Lender.
25. Waiver of Jury Trial. Guarantor and her heirs,
executors, administrators, personal representatives; successors,
and assigns shall not seek a jury trial in any action based upon
or arising out of or otherwise relating to this Guaranty, the
Loan, any of the Loan Documents or any related instrument or
agreement, any collateral for the Loan, or for the obligations
of Guarantor or any other guarantor, or their dealings or
relationships with each other. To the extent per.mitted by
applicable law, Guarantor irrevocably and expressly waives any
and all right to any such jury trial and agrees that no such
action for which a jury trial has been waived shall be sought to
be consolidated with any other action in which a jury trial
cannot or has not been waived. This section has been read and
fully discussed by Guarantor, who has been represented by
counsel, and this section shall not be. subj ect to any
exceptions.
26. GUARANTOR HAS HAD THE OPPORTUNITY TO READ THIS DOCUMENT
CAREFULLY AND TO REVIEW IT WITH AN ATTORNEY OF GUARANTOR'S
CHOICE BEFORE SIGNING IT. GUARANTOR ACKNOWLEDGES HAVING READ
THIS DOCUMENT BEFORE SIGNING IT, AND GUARANTOR UNDERSTANDS THE
MEANING AND EFFECT OF IT. GUARANTOR FURTHER ACKNOWLEDGES THAT
THE EXECUTION OF THIS GUARANTY WAS NOT BASED ON ANY FACTS OR
MATERIALS PROVIDED TO GUARANTOR BY LENDER AND WAS NOT INDUCED BY
ANY REPRESENTATION, STATEMENT, OR ANALYSIS MADE BY LENDER.
F:\Documents\CAR\ White Oak\Olde Town\city.guaranty.doc
15
27. Non-Recourse Provisions. The exculpatory provisions in
section 4.15 of the Deed and section 13 of the Note are not for
the benefit of Guarantor, and, notwithstanding any exculpatory
language in those sections, Guarantor shall have full recourse
liability for the Guarantied Obligations.
IN WITNESS WHEREOF, Guarantor has executed this Guaranty
under seal as of above date.
c;;;::,9~
Witness
F:\Documents\CAR\ White Oak\Olde Town\city.guaranty.doc
16
EXHIBIT" A"
LEGAL DESCRIPTION 20 & 22 WALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT liB" ON AN ALTAlACSM LAND TITLE SURVEY DATED NOVEMBER 17,
1998, LAS!, REVISED DECEMBER 7,1998, PREPARED BY W,R. TOOLE ENGINEERS,
INe. AND CERTIFIED BY STEVEN M. HARDY, GEORGIA REGISTERED LAND
SURVEYOR NO. 2662 AND HAVING THE FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT-OF-WAY OF SIBLEY STREET (R!W
V ARIES)AND WALKER STREET (RIW V ARIES) AT A #5 REBAR FOUND, AND THE
TRUE POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE
SOUTHERN RIGHT-OF-WAY OF WALKER STREET SOUTH 66 DEGREES 35 MINUTES
34 SECONDS EAST A DISTANCE OF 40.01 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF 14 & 16'WALKER STREET SOUTH
22 DEGREES 56. MINUTES 15 SECONDS WEST A DISTANCE OF 127.54 FEET TO A
POINT; THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP SEIGLER
NORTH 67 DEGREES 43 MINUTES 04 SECONDS WEST A DISTANCE OF 40.03 FEET TO
A POINT; THENCE TURNING AND CONTINUING ALONG THE EAST RIGHT -OF- WAY
OF SIBLEY STREET NORTH 22 DEGREES 57 MINUTES 00 SECONDS EAST A
DISTANCE OF 128.32 FEET TO THE TRUE POINT OF BEGINNING.
LEGAL DESCRIPTION 14 & 16 WALKER STREET .
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT II A" ON AN ALTAlACSM LAND TITLE SURVEY DATED NOVEMBER 17,
1998, LAST REVISED DECEMBER 7, 1998, PREPARED BY W.R. TOOLE ENGINEERS,
INe. AND CERTIFIED BY STEVEN M. HARDY, GEORGIA REGISTERED LAND
SURVEYOR NO. 2662 AND HAVING THE FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT -OF - WAY OF SIBLEY STREET (R!W V ARIES)
AND WALKER STREET (RIW V ARIES) AND CONTINUING EAST ALONG THE
SOUTHERN RIGHT-OF-WAY OF WALKER STREET 40.01 FEET TO A #5 REBAR
FOUND, AND THE TRUE POINT-OF-BEGINNING; THENCE TURNING AND
CONTINUING ALONG THE SOUTHERN RIGHT -OF- WAY OF WALKER STREET SOUTH
66 DEGREES 38 MINUTES 45 SECONDS EAST A DISTANCE OF 39.95 FEET TO A 1/2
INCH OPEN TOP FOUND, THENCE TURNING AND CONTINUING ALONG THE LINE
OF NIP PRICEY SOUTH 22 DEGREES 55 MINUTES 04 SECONDS WEST A DISTANCE
OF 128.87 FEET TO A POINT; THENCE TURNING AND CONTINUING ALONG THE
LINE OF NIP SEIGLER NORTH 64 DEGREES 44 MINUTES 13 SECONDS WEST A
DIST ANCE OF 40.02 FEET TO A POINT; THENCE TURNING AND CONTINUING
ALONG THE LINE OF 20 & 22 WALKER STREET NORTH 22 DEGREES 56 MINUTES 15
SECONDS EAST A DISTANCE OF 127.54 FEET TO THE SOUTHERN RIOHT-OF-WAY
OF WALKER STREET AND THE TRUE POINT-OF-BEGINNING,
LEGAL DESCRIPTION: 101 WATKINS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY, DATED OCTOBER 20, 1998, LAST
REVISED DECEMBER 7,1998 PREPARED BY W.R. TOOLE ENGINEERS, INC. AND
CERTIFIED BY STEVEN M. HARDY, GEORGIA REGISTERED LAND SURVEYOR NO.
2662 AND HAVING THE FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT-OF-WAY OF WATKINS STREET(RIW
VARIES) AND 1ST STREET (R!W VARIES) AT A #5 REBAR SET, AND THE TRUE
POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE NORTH
RIGHT-OF-WAY OF WATKINS STREET NORTH 65 DEGREES 49 MINUTES 34
SECONDS WEST A DISTANCE OF 50.00 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF NIP DR. J.E. CARTER, JR. NORTH
24 DEGREES 17 MINUTES 52 SECONDS EAST A DISTANCE OF 49.92 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP:
DOWNTOWN AUGUSTA, INC. SOUTH 65 DEGREES 54 MINUTES 48 SECONDS EAST
A DISTANCE OF 50.17 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE WEST RIGHT-OF-WAY OF 1ST STREET SOUTH 24
DEGREES 29 MINUTES 27 SECONDS WEST A DISTANCE OF 20.76 FEET TO A POINT;
THENCE TURNING AND CONTINUING SOUTH 65 DEGREES 30 MINUTES 33
SECONDS EAST A DISTANCE OF 2.55 FEET TO A POINT; THENCE TURNING AND
CONTINUING SOUTH 24 DEGREES 29 MINUTES 27 SECONDS WEST A DISTANCE OF
29.24 FEET TO A POINT; THENCE TURNING AND CONTINUING NORTH 65 DEGREES
30 MINUTES 33 SECONDS WEST A DISTANCE OF 2.55 FEET TO THE TRUE POINT OF
BEGINNING.
LEGAL DESCRIPTION: 305 WALKER STREET
ALL THAT LOT OR PARCEL OF LAND, WITH IMPROVEMENTS THEREON, SITUATE,
LYING AND BEING IN THE CITY OF AUGUSTA, RICHMOND COUNTY, GEORGIA,
FRONTING A DISTANCE OF 60 FEET, MORE OR LESS, ON THE NORTH SIDE OF
WALKER STREET, BETWEEN THIRD AND FOURTH STREETS, AND EXTENDING
BACK OF EVEN WIDTH, A DISTANCE OF 162 FEET, MORE OR LESS, AND BEING
KNOWN AND DESIGNATED AS LOT NO. 119 ON WILLIAM PHILLIPS' MAP OF THE
CITY OF AUGUSTA RECORDED IN THE OFFICE OF THE CLERK OF SUPERIOR
COURT OF RICHMOND COUNTY, GEORGIA, IN REALTY BOOK 18F, PAGE 420.
REFERENCE IS HEREBY MADE TO SAID PLAT FOR A MORE COMPLETE AND
ACCURATE DESCRIPTION AS TO THE METES, BOUNDS AND LOCATION OF SAID
PROPERTY.
2
F:\Documents\PRC\white oak\LEGAL DESCRIPTIONS.COMBINE4.doc
A MORE RECENT PLAT PREPARED BY TOOLE SURVEYING COMPANY FOR OLDE
TOWN PROPERTIES I, DATED MARCH 16, 1989, IS RECORDED IN REALTY REEL 307,
PAGE 713, IN SAID CLERK'S OFFICE.
SAID PROPERTY IS KNOWN AND DESIGNATED AS 305 WALKER STREET
ACCORDING TO THE SYSTEM OF STREET NUMBERING CURRENTLY IN USE IN
AUGUSTA, RICHMOND COUNTY, GEORGIA.
LEGAL DESCRIPTION: 260 REYNOLDS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, AND BEING MORE FULLY SHOWN AND
DESIGNATED ON AN ALTAlACSM LAND TITLE SURVEY DATED 1019/98 PREPARED
BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662 AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHWEST RIGHT -OF - WAY INTERSECTION OF 2ND STREET
(RIW V ARIES) AND REYNOLDS STREET (RIW V ARIES) AND CONTINUING WEST..
ALONG THE SOUTH RIGHT-OF-WAY OF REYNOLDS STREET 609.31 FEET:t TO A 5/8
INCH OPEN TOP FOUND, .AND THE TRUE POINT OF BEGINNING; THENCE TURNING
AND CONTINUING ALONG THE LINE OF NIP GAY, SOUTH 24 DEGREES 16 MINUTES
35 SECONDS WEST AS DISTANCE OF 115.11 FEET TO A 5/8 INCH OPEN TOP FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP BATTEY, NORTH 66
DEGREE4S 07 MINUTES 17 SECONDS WEST A DISTANCE OF 25.50 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG AN EXISTING
ALLEY NORTH 03 DEGREES 49 MINUTES 11 SECONDS EAST A DISTANCE OF 43.61
FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG AN
EXISTING ALLEY NORTH 24 DEGREES 12 MINUTES 15 SECONDS EAST A DISTANCE
.>" A DISTANCE OF 74.24 FEET TO A #5 REBAR FOUND; THENCE-TURNING AND
CONTINUING ALONG THE SOUTH RIGHT OF WAY OF REYNOLDS STREET SOUTH
65 DEGREES 59 MINUTES 16 SECONDS EAST A DISTANCE OF 40.83 FEET TO THE
TRUE POINT OF BEGINNING AND CONTAINING 0.10 ACRES (4,382.38 SQUARE FEET)
LEGAL DESCRIPTION: 209 TELFAIR STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY DATED OCTOBER 14, 1998, PREPARED
BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662 AND HAVING THE FOLLOWING.
METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT OF WAY INTERSECTION OF TELFAIR
STREET (RIW V ARIES) AND 2ND STREET (R/W V ARIES) AND CONTINUING WEST
3
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ALONG THE NORTH RIGHT OF WAY OF TELFAIR STREET 100 FEET :t TO A #5
REBAR FOUND, AND BEING THE TRUE POINT OF BEGINNING; THENCE TURNING
AND CONTINUING ALONG THE NORTH RIGHT OF WAY OF TELFAIR STREET
NORTH 67 DEGREES 38 MINUTES AND 50 SECONDS WEST A DISTANCE OF 36.00
FEET TO A #5 REBAR FOUND;. THENCE TURNING AND CONTINUING ALONG THE
LINE OF NIP BRANCH, NORTH 22 DEGREES 35 MINUTES 33 SECONDS EAST A
DISTANCE OF 176,31 FEET TO A 3/4 INCH CRIMPED TOP FOUND; THENCE TURNING
AND CONTINUING ALONG THE LINE OF N/F SACCO AND N/F MABEN, SOUTH 69
DEGREES 04 MINUTES 52 SECONDS EAST A DISTANCE OF 35.79 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP
HARRIS AND NIP CONNELL SOUTH 22 DEGREES 31 MINUTES 09 SECONDS WEST A
DISTANCE OF 177.20 FEET TO THE TRUE POINT OF BEGINNING AND CONTAINING
0.15 ACRES (6,343.39 SQUARE FEET),
LEGAL DESCRIPTION: 228 TELFAIR STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY DATED OCTOBER 9,1998, PREPARED BY
W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY, GEORGIA
REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING METES
AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY INTERSECTION OF 3RD STREET
(RIW V ARIES) AND TELFAIR STREET (RIW V ARIES) AND CONTINUING EAST
ALONG THE SOUTH RIGHT OF WAY OF TELFAIR STREET 503.58 FEET:t TO A #5
REBAR FOUND, AND THE TRUE POINT OF BEGINNING; THENCE TURNING AND
CONTINUING ALONG THE SOUTH RIGHT OF WAY OF TELFAIR STREET SOUTH 67
DEGREES 37 MINUTES 26 SECONDS EAST A DISTANCE OF 33.29 FEET TO A #4
REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP
MIRICK SOUTH 21 DEGREES 31 MINUTES 01 SECOND WEST A DISTANCE OF 169.85
FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE
LINE OF NIP ROUNDTREE AND N/F YOUNG NORTH 68 DEGREES 51 MINUTES 26
SECONDS WEST A DISTANCE OF 32.34 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF 230 TELFAIR STREET NORTH 21
DEGREES 11 MINUTES 58 SECONDS EAST A DISTANCE OF 170,56 FEET TO THE
TRUE POINT OF BEGINNING AND. CONTAINING 0.13 ACRES (5,584.46 SQUARE
FEET).
LEGAL DESCRIPTION: 230 TELFAIR STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY DATED OCTOBER 9, 1998, PREPARED BY
W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY, GEORGIA
4
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REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING METES
AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY INTERSECTION OF 3RD STREET
(RIW V ARIES) AND TELFAIR STREET (R/W V ARIES) AND CONTINUING EAST
ALONG THE SOUTH RIGHT OF WAY OF TELFAIR STREET 470.58 FEET :t TO A #4
REBAR SET, AND THE TRUE POINT OF BEGINNING; THENCE TURNING AND
CONTINUING ALONG THE SOUTH RIGHT OF wAy OF TELFAIR STREET SOUTH 67
DEGREES 37 MINUTES 26 SECONDS EAST A DISTANCE OF 33.00 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF 228
TELFAIR STREET SOUTH 21 DEGREES 11 MINUTES 58 SECONDS WEST A DISTANCE
OF 170.56 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING
ALONG THE LINE OF N/F YOUNG AND NIP WILLIAMS NORTH 67 DEGREES 07
MINUTES 00 SECONDS WEST A DISTANCE OF 32.64 FEET TO A #5 REBAR FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP ALLEN NORTH 21
DEGREES 04 MINUTES 36 SECONDS EAST A DISTANCE OF 170.28 FEET TO THE
TRUE POINT OF BEGINNING AND CONTAINING 0.13 ACRES (5,591.39 SQUARE
FEET),
LEGAL DESCRIPTION: 224 BROAD STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY DATED OCTOBER 21, 1998, PREPARED
BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHWEST RIGHT OF WAY OF 2ND STREET (RIW V ARIES)
AND BROAD STREET (R!W V ARIES) AND CONTINUING WEST ALONG THE SOUTH
RIGHT OF WAY OF BROAD STREET 247.50 FEET:t TO A P.K. NAIL FOUND AND THE
TRUE POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE
LINE OF N/F ANDERSON SOUrH 23- DEGREES 38 MINUTES 12 SECONDS WEST A
DISTANCE OF 133.70 FEET TO A #4 REBAR SET; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIP DOWNTOWN AUGUSTA NORTH 68
DEGREES 16 MINUTES 05 SECONDS WEST A DISTANCE OF 54.02 FEET TO A #4
REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP
MCGAHEE NORTH 23 DEGREES 37. MINUTES 14 SECONDS EAST A DISTANCE OF
134.76 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG
THE SOUTH RIGHT OF WAY OF BROAD STREET SOUTH 67 DEGREES 08 MINUTES 50
SECONDS EAST A DISTANCE OF 54.03 FEET TO THE TRUE POINT OF BEGINNING
AND CONTAINING 0.17 ACRES (7,249.35 SQUARE FEET).
5
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LEGAL DESCRIPTION: 111 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTNACSM LAND TITLE SURVEY DATED OCTOBER 20,1998, PREPARED
BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HA VING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT OF WAY OF FORSYTHE STREET (RIW
VARIES) AND ELLIS STREET (R!W VARIES) AND CONTINUING WEST ALONG THE
NORTH RIGHT OF WAY OF ELLIS STREET 49.00 FEET :t TO A #5 REBAR FOUND AND
THE TRUE POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG
THE NORTH RIGHT OF WAY OF ELLIS STREET NORTH 66 DEGREES 00 MINUTES 00
SECONDS WEST A DISTANCE OF 48.52 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF NIP MCGOW ANS FLORIST
NORTH 25 DEGREES 01 MINUTE 43 SECONDS EAST A DISTANCE OF 90.91 FEET TO
A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF
NIP CONNELL SOUTH 66 DEGREES 04 MINUTES 54 SECONDS EAST A DISTANCE OF
47.51 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG
THE LINE OF NIP AGNEW SOUTH 24 DEGREES 23 MINUTES 20 SECONDS WEST A:
DISTANCE OF 90.96 FEET TO THE TRUE POINT OF BEGINNING AND CONTAINING
0.10 ACRES (4,365.88 SQUARE FEET).
LEGAL DESCRIPTION: 409 WALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY DATED OCTOBER 9,1998, PREPARED BY
W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M. HARDY, GEORGIA
REGISTERED LAND SURVEYOR NO, 2662, AND HAVING THE FOLLOWING METES
AND BOUNDS TO WIT:
BEGINNING AT THE NORTHEAST RIGHT OF WAY INTERSECTION OF WALKER
STREET (RIW V ARIES) AND GORDON HIGHWAY (150 FEET R/W) AT A 1 INCH
CRIMPED TOP FOUND AND BEING THE TRUE POINT OF BEGINNING; THENCE
TURNING AND CONTINUING ALONG THE EAST RIGHT OF WAY OF GORDON
HIGHWAY NORTH 25 DEGREES 25 MINUTES 50 SECONDS EAST A DISTANCE OF
131.69 FEET TO A 5/8 INCH OPEN TOP FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIP REDDY SOUTH 63 DEGREES 21 MINUTES 37
SECONDS EAST A DISTANCE OF 36.67 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF NIP ZARGE SOUTH 23 DEGREES
04 MINUTES 36 SECONDS WEST A DISTANCE OF 130.65 FEET TO A #5 REBAR
FOUND; THENCE TURNING AND CONTINUING ALONG THE NORTH RIGHT OF WAY
OF WALKER STREET NORTH 65 DEGREES 04 MINUTES 36 SECONDS WEST A
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DISTANCE OF 42.03 FEET TO THE TRUE POINT OF BEGINNING AND CONTAINING
0.12 ACRES (5,158.18 SQUARE FEET),
LEGAL DESCRIPTION: 101 & 103 1ST STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY DATED OCTOBER 20, 1998, PREPARED
BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHWEST RIGHT OF WAY INTERSECTION OF REYNOLDS
STREET (RIW VARIES) AND 1ST STREET (RIW VARIES) AT A #5 REBAR FOUND AND
THE TRUE POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG
THE WEST RIGHT OF WAY OF 1 ST STREET SOUTH 24 DEGREES 01 MINUTE 17
SECONDS WEST A DISTANCE OF 65.12 FEET TO #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF NIP WASHINGTON NORTH 65
DEGREES 55 MINUTES 56 SECONDS WEST A DISTANCE OF 75.83 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP.
CARTER AND NIP ZARGE NORTH 23 DEGREES 51 MINUTES 02 SECONDS EAST A:
DISTANCE OF 65.03 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE SOUTH RIGHT OF WAY OF REYNOLDS STREET SOUTH
66 DEGREES 00 MINUTES 00 SECONDS EAST A DISTANCE OF 76.02 FEET TO THE
TRUE POINT OF BEGINNING AND CONTAINING 0.11 ACRES (4,940.70 SQUARE
FEET).
LEGAL DESCRIPTION: 237 TELFAIR STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY DATED OCTOBER 14, 1998, PREPARED
BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M, HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND.HA VING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHEAST RIGHT OF WAY INTERSECTION OF 3RD STREET
(R/W V ARIES) AND TELFAIR STREET (R/W V ARIES) AND CONTINUING EAST
ALONG THE NORTH RIGHT OF WAY OF TELFAIR STREET 344.68 FEET :t TO A #5
REBAR FOUND AND THE TRUE POINT OF BEGINNING; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIP TRITT AND WALKER NORTH 22 DEGREES
45 MINUTES 57 SECONDS EAST A DISTANCE OF 174.91 FEET TO A #4 REBAR SET;
THENCE TURNING AND CONTINUING ALONG THE LINE OF DOWNTOWN
AUGUST A, INe. AND N/F BALK, SOUTH 67 DEGREES 09 MINUTES 44 SECONDS
EAST A DISTANCE OF 33.60 FEET TO A 3/4 INCH OPEN TOP FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF N/F BALK, SOUTH 22 DEGREES
7
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46 MINUTES 16 SECONDS WEST A DISTANCE OF 174.77 FEET TO A #4 REBAR SET;
THENCE TURNING AND CONTINUING ALONG THE NORTH RIGHT OF WAY OF
TELFAIR STREET NORTH 67 DEGREES 24 MINUTES 03 SECONDS WEST A DISTANCE
OF 33.59 FEET TO THE TRUE POINT OF BEGINNING AND CONTAINING 0.13 ACRES
(5,873.89 SQUARE FEET),
LEGAL DESCRIPTION: 134 & 136 WALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY DATED OCTOBER 21, 1998, PREPARED
BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY OF 2ND STREET (RIW V ARIES)
AND WALKER STREET (R!W V ARIES) AND CONTINUING EAST ALONG THE SOUTH
RIGHT OF WAY OF WALKER STREET 124.50 FEET :t TO A #5 REBAR FOUND BEING
THE TRUE POINT OF BEGINNING, THENCE TURNING AND CONTINUING ALONG
THE SOUTH RIGHT OF WAY OF WALKER STREET SOUTH 66 DEGREES 33 MINUTES
32SECONDS EAST A DISTANCE OF 42.97 FEET TO A #5 REBAR FOUND; THENCE:
TURNING AND CONTINUING ALONG THE LINE OF NIP BAUKNIGHT SOUTH 23
DEGREES 25 MINUTES 00 SECONDS WEST A DISTANCE OF 132.01 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP
CIMANYD INC, NIP DAVIS, NIP JACKSON, NORTH 66 DEGREES 38 MINUTES 47
SECONDS WEST A DISTANCE OF 42.98 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF NIP BAILEY NORTH 23 DEGREES
25 MINUTES 28 SECONDS EAST A DISTANCE OF 132.07 FEET TO THE TRUE POINT
OF BEGINNING AND CONTAINING 0.13 ACRES (5,669,54 SQUARE FEET).
LEGAL DESCRIPTION: 259 GREENE STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY DATED OCTOBER 19,1998, PREPARED
BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M, HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHEAST RIGHT OF WAY OF 3RD STREET (RIW VARIES)
AND GREENE STREET (RIW V ARIES) AND CONTINUING EAST ALONG THE NORTH
RIGHT OF WAY OF GREENE STREET 52.28 FEET :t TO A SPIKE FOUND AND THE
TRUE POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE
LINE OF NIP GRABLOSKI NORTH 22 DEGREES 43 MINUTES 12 SECONDS EAST A
DISTANCE OF 119.55 FEET TOA CORNER OF BRICK WALL; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIP BRYANT SOUTH 67 DEGREES 58 MINUTES
8
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07 SECONDS EAST A DISTANCE OF 30.85 FEET TO A CORNER OF WALL; THENCE
TURNING AND CONTINUING ALONG THE LINE OF NIP BRYANT NORTH 26
DEGREES 06 MINUTES 58 SECONDS EAST A DISTANCE OF 14,85 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP
SULLIVAN SOUTH 66 DEGREES 58 MINUTES 57 SECONDS EAST A DISTANCE OF
16.43 FEET TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE
LINE OF NIP BUCKLEY SOUTH 23 DEGREES 30 MINUTES 09 SECONDS WEST A
DISTANCE OF 133.69 FEET TO A 1/2 INCH FLAT BAR; THENCE TURNING AND
CONTINUING ALONG THE NORTH RIGHT OF WAY OF GREENE STREET NORTH 68
DEGREES 30 MINUTES 00 SECONDS WEST A DISTANCE OF 46.34 FEET TO THE TRUE
POINT OF BEGINNING AND CONTAINING 0.13 ACRES (5,872.50 SQUARE FEET).
LEGAL DESCRIPTION: 256 GREENE STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "A" ON AN ALTA/ACSM LAND TITLE SURVEY DATED OCTOBER 9, 1998,
PREPARED BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY OF GREENE STREET (R!W
V ARIES) AND 3RD STREET (RIW VARIES) AND CONTINUING ALONG THE SOUTH
RIGHT OF WAY OF GREENE STREET 155.41 FEET:t TO A #4 REBAR SET AND THE
TRUE POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE
SOUTH RIGHT OF WAY OF GREENE STREET SOUTH 67 DEGREES 29 MINUTES 30
SECONDS EAST A DISTANCE OF 33.01 FEET TO A #4 REBAR SET; THENCE TURNING
AND CONTINUING ALONG THE LINE OF NIP BIGHOM SOUTH 23 DEGREES 41
MINUTES 16 SECONDS WEST A DISTANCE OF 173.27 FEET TO A #5 REBAR FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F THOMPKINS AND
NIP BEALE NORTH 66 DEGREES 13 MINUTES 55 SECONDS WEST A DISTANCE OF
32,99 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG
THE LINE OF 258 GREENE STREET NORTH 23 DEGREES 40 MINUTES 55 SECONDS
EAST A DISTANCE OF 172.54 FEET TO THE TRUE POINT OF BEGINNING AND
CONTAINING 0.13 ACRES (5,704.80 SQUARE FEET).
LEGAL DESCRIPTION: 258 GREENE STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "B" ON AN ALTAlACSM LAND TITLE SURVEY DATED OCTOBER 9, 1998,
PREPARED BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
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BEGINNING AT THE SOUTHEAST RIGHT OF WAY OF GREENE STREET (R!W
V ARIES) AND 3RD STREET (RIW V ARIES) AND CONTINUING ALONG THE SOUTH
RIGHT -OF - WAY OF GREENE STREET 122.51 FEET::!: TO A #4 REBAR SET AND THE
TRUE POINT OF BEGINNING; THENCE CONTINUING ALONG THE SOUTH RIGHT OF
WAY OF GREENE STREET SOUTH 67 DEGREES 29 MINUTES 30 SECONDS EAST A
DISTANCE OF 32.90 FEET TO A #4 REBAR SET; THENCE TURNING AND
CONTINUING ALONG THE LINE OF 256 GREENE STREET SOUTH 23 DEGREES 40
MINUTES 55 SECONDS WEST A DISTANCE OF 172.54 FEET TO A#5 REBAR FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP BEALE AND NIP
BARTON INVESTMENT CO. INC. NORTH 66 DEGREES 13 MINUTES 55 SECONDS
WEST A DISTANCE OF 32.96 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF 260 GREENE STREET NORTH 23 DEGREES 42
MINUTES 20 SECONDS EAST A DISTANCE OF 171.82 FEET TO THE TRUE POINT OF
BEGINNING AND CONTAINING 0.13 ACRES (5,669.67 SQUARE FEET)~
LEGAL DESCRIPTION: 260 GREENE STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "C" ON AN ALTAlACSM LAND TITLE SURVEY DATED OCTOBER 9,1998,
PREPARED BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY INTERSECTION OF 3RD STREET
(RIW VARIES) AND GREENE STREET (R!W V ARIES) AND CONTINUING EAST
ALONG THE SOUTHERN RIGHT OF WAY OF GREENE STREET 89.5 FEET :t TO A #4
REBAR SET AND THE TRUE POINT OPBEGINNING; THENCE TURNING AND
CONTINUING ALONG THE SOUTH RIGHT OF WAY GREENE STREET SOUTH 67
DEGREES 29 MINUTES 30 SECONDS EAST A DISTANCE OF 33.01 FEET TO A#4
REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF 258
GREENE STREET SOUTH 23 DEGREES 42 MINUTES 20 SECONDS WEST A DISTANCE
OF 171.82 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING
ALONG THE LINE OF BARTON INVESTMENT CO INe. NORTH 66 DEGREES 13
. .
MINUTES 55 SECONDS WEST A DISTANCE OF 32.98 FEET TO A 5/8 INCH CRIMPED
TOP FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF AUGUST A
MINISTERS UNION, NIP ROBERTS AND NIP GRADY NORTH 23 DEGREES 41
MINUTES 58 SECONDS EAST A DISTANCE OF 171.10 FEET TO THE TRUE POINT OF
BEGINNING AND CONTAINING 0.13 ACRES (5,657.19 SQUARE FEET).
LEGAL DESCRIPTION: 608 & 610 THIRD STREET & 264 WALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "D" ON AN ALTAlACSM LAND TITLE SURVEY DATED NOVEMBER 13,
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1998, PREPARED BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY OF THIRD STREET (R!W V ARIES)
AND WALKER STREET (RIW VARIES) AT A #4 REBAR SET AND THE TRUE POINT OF
BEGINNING; THENCE TURNING AND CONTINUING EAST ALONG THE SOUTH
RIGHT OF WAY OF WALKER STREET SOUTH 66 DEGREES 34 MINUTES 40 SECONDS
EAST A DISTANCE OF 54.39 FEET TO A #4 REBAR SET; THENCE SOUTH 21 DEGREES
44 MINUTES 19 SECONDS WEST A DISTANCE OF 1.90 FEET TO A # 5 REBAR FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF 262 WALKER STREET
SOUTH 23 DEGREES 45 MINUTES 24 SECONDS WEST A DISTANCE OF 134.84 FEET
TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF
614 THIRD STREET NORTH 66 DEGREES 26 MINUTES 02 SECONDS WEST A
DISTANCE OF 52.56 FEET TO A #4 REBAR SET; THENCE TURNING AND
CONTINUING NORTH 66 DEGREES 26 MINUTES 02 SECONDS WEST A DISTANCE OF
1.93 FEET TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE
RIGHT OF WAY OF THIRD STREET NORTH 23 DEGREES 46 MINUTES 10 SECONDS
EAST A DISTANCE OF 136.60 FEET TO THE TRUE POINT OF BEGINNING AND
CONTAINING 0.17 ACRES (7,444.87 SQUARE FEET).
LEGAL DESCRIPTION: 262 WALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "C" ON AN ALTAlACSM LAND TITLE SURVEY DATED NOVEMBER 13,
1998, PREPARED BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY OF THIRD STREET (R/W VARIES)
AND WALKER STREET (R!W VARIES) AND CONTINUING EAST ALONG THE SOUTH
RIGHT OF WAY OF WALKER STREET 54.39 FEET TO A #4 REBAR SET; THENCE
TURNING AND CONTINUING SOUTH 21 DEGREES 44 MINUTES 19 SECONDS WEST A
DIST ANCE OF 1.90 FEET TO A #4 REBAR SET AND THE TRUE POINT OF BEGINNING;
THENCE TURNING AND CONTINUING ALONG THE SOUTH RIGHT OF WAY OF
WALKER STREET SOUTH 66 DEGREES 25 MINUTES 22 SECONDS EAST A DISTANCE
OF 46.18 FEET TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG
THE LINE OF 260 WALKER STREET SOUTH 23 DEGREES 41 MINUTES 06 SECONDS
WEST A DISTANCE OF 134.83 FEET TO A #4 REBAR SET; THENCE TURNING AND
CONTINUING ALONG THE LINE OF 614 THIRD STREET NORTH 66 DEGREES 26
MINUTES 23 SECONDS WEST A DISTANCE OF 46.35 FEET TO A #4 REBAR SET;
THENCE TURNING AND CONTINUING ALONG THE LINE OF 608 AND 610 THIRD
STREET & 264 WALKER STREET NORTH 23 DEGREES 45 MINUTES 24 SECONDS
11
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EAST A DISTANCE OF 134.84 FEET TO THE TRUE POINT OF BEGINNING AND
CONTAINING 0.14 ACRES (6,238,11 SQUARE FEET).
LEGAL DESCRIPTION: 260 WALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "B" ON AN ALTAlACSM LAND TITLE SURVEY FOR DATED NOVEMBER
13,1998, PREPARED BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY'STEVEN
M. HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HA VrNG THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY OF THIRD STREET (RIW V ARIES)
AND WALKER STREET (RIWV ARIES) AND CONTINUING EAST ALONG THE SOUTH
RIGHT OF WAY OF WALKER STREET 54.39 FEET TO A #4 REBAR SET; THENCE
TURNING AND CONTINUING SOUTH 21 DEGREES 44 MINUTES 19 SECONDS WEST A
DISTANCE OF 1.90 FEET TO A #4 REBAR SET; THENCE CONTINUING EAST ALONG
THE SOUTH RIGHT OF WAY OF WALKER STREET 46.18 FEET TO A #4 REBAR SET
AND. THE TRUE POINT OF BEGINNING; THENCE TURNING AND CONTINUING
ALONG THE SOUTH RIGHT OF WAY OF WALKER STREET SOUTH 66 DEGREES 37
MINUTES 45 SECONDS EAST A DISTANCE OF 44.22 FEET TO A #4 REBAR SET; :
THENCE TURNING AND CONTINUING ALONG THE L INE OF 256 WALKER STREET
SOUTH 23 DEGREES 41 MINUTES 36 SECONDS WEST A DISTANCE OF 134.99 FEET
TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF
N/F WARREN NORTH 66 DEGREES 21 MINUTES 58 SECONDS WEST A DISTANCE OF
12.84 FEET TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE
LINE OF 614 THIRD STREET NORTH 66 DEGREES 26 MINUTES 22 SECONDS WEST A
DISTANCE OF 31.36 FEET TO A #4 REBAR SET; THENCE TURNING AND
CONTINUING ALONG THE LINE OF 262 WALKER STREET NORTH 23 DEGREES 41
MINUTES 06 SECONDS EAST A DISTANCE OF 134,83 FEET TO THE TRUE POINT OF
BEGINNING AND CONTAINING 0.14 ACRES (5,964.14 SQUARE FEET).
LEGAL DESCRIPTION: 256 WALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
. RICHMOND COUNTY, GEORGIA, BEING MORE FULL Y.SHOWN AND DESIGNATED
AS TRACT "A" ON AN ALTAlACSM LAND TITLE SURVEY DATED NOVEMBER 13,
1998, PREPARED BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY OF THIRD STREET (R/W V ARIES)
AND WALKER STREET (RIW V ARIES) AND CONTINUING EAST ALONG THE SOUTH
RIGHT OF WAY OF WALKER STREET 54,39 FEET TO A #4 REBAR SET; THENCE
TURNING AND CONTINUING SOUTH 21 DEGREES 44 MINUTES 19 SECONDS WEST A
DISTANCE OF 1.90 FEET TO A #4 REBAR SET; THENCE CONTINUING EAST ALONG
12
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THE SOUTH RIGHT OF WAY OF WALKER STREET 90.40 FEET TO A #4 REBAR SET
AND THE TRUE POINT OF BEGINNING, THENCE TURNING AND CONTINUING
ALONG THE SOUTH RIGHT OF WAY OF WALKER STREET SOUTH 66 DEGREES 37
MINUTES 20 SECONDS EAST A DISTANCE OF 29.70 FEET TO A #5 REBAR FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP HOLLAND SOUTH
23 DEGREES 41 MINUTES 35 SECONDS WEST A DISTANCE OF 135.12 FEET TO A #4
REBAR SET; THENCE TURNING AND 'CONTINUING ALONG THE LINE OF N/F
WARREN NORTH 66 DEGREES 21 MINUTES 57 SECONDS WEST A DISTANCE OF
29.70 FEET TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE
LINE OF 260 WALKER STREET NORTH 23 DEGREES 41 MINUTES 36 SECONDS EAST
A DISTANCE OF 134.99 FEET TO THE TRUE POINT OF BEGINNING AND
CONTAINING 0.09 ACRES (4,012.24 SQUARE FEET)
LEGAL DESCRIPTION: 614 THIRD STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "E" ON AN ALTAlACSM LAND TITLE SURVEY DATED NOVEMBER 13,
1998, PREPARED BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY OF THIRD STREET (R!W V ARIES)
AND WALKER STREET (RIW V ARIES) AND CONTINUING SOUTH ALONG THE EAST
RIGHT OF WAY OF THIRD STREET 136.60 FEET TO A #4 REBAR SET; THENCE
TURNING AND CONTINUING SOUTH 66 DEGREES 26 MINUTES 02 SECONDS EAST A
DISTANCE OF 1.93 FEET TO A #4 REBAR SET AND THE TRUE POINT OF BEGINNING;
THENCE TURNING AND CONTINUING ALONG THE LINE OF 608 AND 610 THIRD
STREET AND 264 WALKER STREET SOUTH 66 DEGREES 26 MINUTES 02 SECONDS
EAST A DISTANCE OF 52.56 FEET TO A #4 REBAR SET; THENCE TURNING AND
CONTINUING ALONG THE LINE OF 262 WALKER STREET SOUTH 66 DEGREES 26
MINUTES 23 SECONDS EAST A DISTANCE OF 46.35 FEET TO A #4 REBAR SET;
THENCE TURNING AND CONTINUING ALONG THE LINE OF 260 WALKER STREET
SOUTH 66 DEGREES 26 MINUTES 22 SECONDS EAST A DISTANCE OF 31.36 FEET TO
A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F
WARREN SOUTH 24 DEGREES 01 MINUTE 25 SECONDS WEST A DISTANCE OF 40.08
FEET TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE
OF NIP PERDUE NORTH 66 DEGREES 24 MINUTES 09 SECONDS WEST A DISTANCEUOF 130.06 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING
ALONG THE EAST RIGHT OF WAY OF THIRD STREET NORTH 23 DEGREES 43
MINUTES 55 SECONDS EAST A DISTANCE OF 40.00 FEET TO THE TRUE POINT OF
BEGINNING AND CONTAINING 0,12 ACRES (5,211.34 SQUARE FEET).
13
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LEGAL DESCRIPTION: 209 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "D" ON AN ALTAlACSM LAND TITLE SURVEY DATED NOVEMBER 5,
1998, PREPARED BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M.
HARDY, 9EORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT OF WAY OF 2ND STREET (R/W V ARIES)
AND ELLIS STREET (R!W V ARIES) AND CONTINUING WEST ALONG ELLIS STREET
99 FEET :t TO A 3/4 INCH CRIMPED TOP FOUND AND THE TRUE POINT OF
BEGINNING; THENCE TURNING AND CONTINUING ALONG THE NORTH RIGHT OF
WAY OF ELLIS STREET NORTH 66 DEGREES 00 MINUTES 00 SECONDS WEST A
DISTANCE OF 50.03 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF 211 AND 213 ELLIS STREET NORTH 24 DEGREES
25 MINUTES 36 SECONDS EAST A DISTANCE OF 118.99 FEET TO A #5 REBAR
FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE NIP ANTHONY
AND NIP HERRINGTON SOUTH 65 DEGREES 58 MINUTES 26 SECONDS EAST A
DISTANCE OF 49.97 FEET TO A #5 REBAR FOUND; THENCE TURNING AND ..
CONTINUING ALONG THE LINE OF NIP AGOSTAS SOUTH 24 DEGREES 23 MINUTES
45 SECONDS WEST A DISTANCE OF 118,97 FEET TO THE TRUE POINT OF
BEGINNING AND CONTAINING 0.14 ACRES (5,948.87 SQUARE FEET).
LEGAL DESCRIPTION 211 & 213 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "C" ON AN ALTAlACSM LAND TITLE SURVEY DATED NOVEMBER 5,
1998, PREPARED BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWESTRIGHT'OF WAY OF 2ND STREET (RIW V ARIES)
AND ELLIS STREET (R/W VARIES ) AND CONTINUING WEST ALONG ELLIS STREET
149,03 FEET:t TO A #5 REBAR FOUND AND THE TRUE POINT OF BEGINNING;
THENCE TURNING AND CONTINUING ALONG THE NORTH RIGHT OF WAY OF
ELLIS STREET NORTH 65 DEGREES 58 MINUTES 22 SECONDS WEST A DISTANCE OF
53.55 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG
THE LINE OF 215 ELLIS STREET NORTH 24 DEGRES 27 MINUTES 11 SECONDS EAST
A DISTANCE OF 119.22 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIP SPRADLEY AND NIP ANTHONY SOUTH 65
DEGREES 43 MINUTES 26 SECONDS EAST A DISTANCE OF 53.50 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF 209
ELLIS STREET SOUTH 24 DEGREES 25 MINUTES 36 SECONDS WEST A DISTANCE OF
14
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118,99 FEET TO THE TRUE POINT OF BEGINNING AND CONTAINING 0.15 ACRES
(6,375.26 SQUARE FEET).
LEGAL DESCRIPTION: 215 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
. RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "B" ON AN ALTAlACSMLAND TITLE SURVEY DATED NOVEMBER 5,
1998, PREPARED BY W,R, TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT OF WAY OF 2ND STREET (R!W VARIES)
AND ELLIS STREET (RIW VARIES) AND CONTINUING WEST 202.58 FEET :t TO A #5
REBAR FOUND AND THE TRUE POINT OF BEGINNING; THENCE TURNING AND
CONTINUING ALONG THE NORTH RIGHT OF WAY OF ELLIS STREET NORTH 65
DEGREES 57 'MINUTES 17 SECONDS WEST A DISTANCE OF 50.11 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF 219_
AND 221 ELLIS STREET NORTH 24 DEGREES 45 MINUTES 08 SECONDS EAST A :
DISTANCE OF 134.87 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIP J.C. ANDERSON, JR., SOUTH 66 DEGREES 15
MINUTES 51 SECONDS EAST A DISTANCE OF 49.12 FEET TO A #5 REBAR FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F SPRADLEY SOUTH
23 DEGREES 23 MINUTES 39 SECONDS WEST A DISTANCE OF 15.91 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF 211
AND 213 ELLIS STREET SOUTH 24 DEGREES 27 MINUTES 11 SECONDS WEST A
DISTANCE OF 119.22 FEET TO THE TRUE POINT OF BEGINNING AND CONTAINING
0.15 ACRES (6,714.64 SQUARE FEET).
LEGAL DESCRIPTION: 219 & 221 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULL YSHOWN AND DESIGNATED
AS TRACT "A" ON AN ALTAlACSM LAND TITLE SURVEY DATED NOVEMBER 5,
1998, PREPARED BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT OF WAY OF 2ND STREET (RIW V ARIES)
AND ELLIS STREET (R./W VARIES) ANI;> CONTINUING WEST 252.69 FEET:!: TO A #5
REBAR FOUND AND THE TRUE POINT OF BEGINNING; THENCE TURNING AND
CONTINUING ALONG THE NORTH RIGHT OF WAY OF ELLIS STREET NORTH 65
DEGREES 59 MINUTES 23 SECONDS WEST A DISTANCE OF 62,76 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP
15
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DOWNTOWN AUGUSTA, INC. NORTH 24 DEGREES 39 MINUTES 54 SECONDS EAST
A DISTANCE OF 133.26 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIP MCGAHEE AND NIP DOWNTOWN
AUGUSTA, INe. SOUTH 67 DEGREES 27 MINUTES 09 SECONDS EAST A DISTANCE
OF 63.00 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING
ALONG THE LINE OF 215 ELLIS STREET SOUTH 24 DEGREES 45 MINUTES 08
SECONDS WEST A DISTANCE OF 134.87 FEET TO THE TRUE POINT OF BEGINNING
AND CONTAINING 0.19 ACRES (8,426.94 SQUARE FEET).
LEGAL DESCRIPTION: 319 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTA/ACSM LAND TITLE SURVEY DATED NOVEMBER 9, 1998, PREPARED
BY W.R. TOOLE ENGINEERS, INC, AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HA VING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT OF WAY OF 3RD STREET (R!W V ARIES)
AND ELLIS STREET (R!W VARIES) AND CONTINUING WEST 287.99 FEET:t TO A 1/2
INCH OPEN TOP FOUND AND THE TRUE POINT OF BEGINNING; THENCE TURNING
AND CONTINUING ALONG THE NORTH RIGHT OF WAY OF ELLIS STREET NORTH
66 DEGREES 07 MINUTES 03 SECONDS WEST A DISTANCE OF 40.82 FEET TO A P.K.
NAIL FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF 321 ELLIS
STREET NORTH 25 DEGREES 02 MINUTES 39 SECONDS EAST A DISTANCE OF 132.25
FEET TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE
OF NIP OLDE TOWN PROPERTIES SOUTH 66 DEGREES 15 MINUTES 48 SECONDS
EAST A DISTANCE OF 32.17 FEET TO A #4 REBAR SET; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIP UPTON SOUTH 62 DEGREES 02 MINUTES 56
SECONDS EAST A DISTANCE OF 8.55 FEET TO A #4 REBAR FOUND SET; THENCE
TURNING AND CONTINUING ALONG THE LINE OF NIP HUDSON SOUTH 24
DEGREES 59 MINUTES 42 SECONDS WEST A DISTANCE OF 131.72 FEET TO THE
TRUE POINT OF BEGINNING AND CONTAINING 0,12 ACRES (5,389.41 SQUARE
FEET).
LEGAL DESCRIPTION: 323 AND 3231/2 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY DATED NOVEMBER 9,1998, PREPARED
BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT OF WAY OF 3RD STREET (R/W VARIES)
AND ELLIS STREET (RIW VARIES) AND CONTINUING WEST 364.79 FEET:t TO A 3/4
16
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INCH-CRIMPED TOP FOUND AND THE POINT OF BEGINNING; THENCE TURNING
AND .CONTINUING ALONG THE NORTH RIGHT OF WAY OF ELLIS STREET NORTH
65 DEGREES 58 MINUTES 54 SECONDS WEST A DISTANCE OF 36.00 FEET TO A #4
REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF 325 AND
327 ELLIS STREET NORTH 25 DEGREES 08 MINUTES 36 SECONDS EAST A DISTANCE
OF 112.89 FEET TO A 3/4 INCH CRIMPED TOP FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIP CROSS NORTH 24 DEGREES 09 MINUTES 17
SECONDS EAST A DISTANCE OF 19.28 FEET TO A 3/4 INCH CRIMPED TOP FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP DEVANEY SOUTH
66 DEGREES 32 MINUTES 11 SECONDS EAST A DISTANCE OF 36.02 FEET TO A 3/4
INCH CRIMPED TOP FOUND; THENCE TURNING AND CONTINUING ALONG THE
LINE OF 321 ELLIS STREET SOUTH 25 DEGREES 00 MINUTES 12 SECONDS WEST A
DISTANCE OF 132.51 FEET TO THE TRUE POINT OF BEGINNING AND CONTAINING
0.11 ACRES (4,745.59 SQUARE FEET).
LEGAL DESCRIPTION: 325 & 327 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING ANP BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY DATED NOVEMBER 9,1998, PREPAREP
BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M, HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT OF WAY OF 3RD STREET (RIW VARIES)
AND ELLIS STREET (R/W VARIES) AND. CONTINUING WEST 400.79 FEET :t TO A #4
REBAR SET AND THE TRUE POINT OF BEGINNING; THENCE TURNING AND
CONTINUING ALONG THE NORTH RIGHT OF WAY OF ELLIS STREET NORTH 65
DEGREES 58 MINUTES 54 SECONDS WEST A DISTANCE OF 47.00 FEET TO A #4
REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP
. CALDWELL NORTH 24 DEGREES 00 MINUTES 08 SECONDS EAST A DISTANCE OF
112.97 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG
THE LINE OF N/F CROSS SOUTH 65 DEGREES 51 MINUTES 58 SECONDS EAST A
DISTANCE OF 49.25 FEET TOA 3/4 INCH CRIMPED TOP FOUND; THENCE TURNING
AND CONTINUING ALONG THE LINE OF 323 AND 323 1/2 ELLIS STREET SOUTH 25
DEGREES 08 MINUTES 36 SECONDS WEST A DISTANCE OF 112.89 FEET TO THE
TRUE POINT OF BEGINNING AND CONTAINING 0.12 ACRES (5,434.13 SQUARE
FEET).
LEGAL DESCRIPTION: 229 ELLIS S~REET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY DATED OCTOBER 28, 1998, PREPARED.
BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M. HARDY,
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GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HA VING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT OF WAY OF 2ND STREET (R!W V ARIES)
AND ELLIS STREET (RIW VARIES) AND CONTINUING WEST ALONG THE NORTH
RIGHT OF WAY OF ELLIS STREET 482.85 FEET :t TO A #5 REBAR FOUND AND THE
TRUE POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE
NORTH RIGHT OF WAY OF ELLIS STREET NORTH 66 DEGREES 04 MINUTES 37
SECONDS WEST ADISTANCE OF 39.47 FEET TO A 1 INCH CRIMPED TOP FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF DOWNTOWN
AUGUSTA, INe. NORTH 24 DEGREES 12 MINUTES 56 SECONDS EAST A DISTANCE
OF 101.67 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING
ALONG THE LINE OF DOWNTOWN AUGUSTA, INe. SOUTH 64 DEGREES 35
MINUTES 12 SECONDS EAST A DISTANCE OF 40,87 FEET TO A #5 REBAR FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP BIRD SOUTH 25
DEGREES 00 MINUTES 25 SECONDS WEST A DISTANCE OF 100.63 FEET TO THE
TRUE POINT OF BEGINNING AND CONTAINING 0.09 ACRES (4,062.79 SQUARE
FEET).
LEGAL DESCRIPTION: 104-106 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALT AlACSM LAND TITLE SURVEY DATED NOVEMBER 4, 1998, PREPARED
BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHWEST RIGHT OF WAY OF 1 ST STREET (R!W V ARIES)
AND ELLIS STREET (RIW VARIES) BEING THE TRUE POINT OF BEGINNING AND
. CONTINUING ALONG THE WEST RIGHT OF WAY OF 1ST STREET SOUTH 24
DEGREES 44 MINUTES 10 SECONDS WEST A DISTANCE OF 138.67 FEET TO A #5
REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F DAVIS
AND NIP CARMAIN NORTH 65 DEGREES 35 MINUTES 29 SECONDS WEST A
DIST ANCE OF 84.95 FEET TO A 3/4 INCH CRIMPED TOP FOUND; THENCE TURNING
AND CONTINUING ALONG THE LINE OF NIP TINLEY AND NIP NEWSOME NORTH 24
DEGREES 43 MINUTES 14 SECONDS EAST A DISTANCE OF 138.06 FEET TO A 3/4
. INCH CRIMPED TOP FOUND; THENCE TURNING AND CONTINUING ALONG THE
SOUTH RIGHT OF WAY OF ELLIS STREET SOUTH 66 DEGREES 00 MINUTES 00
SECONDS EAST A DISTANCE OF 84.99 FEET TO THE TRUE POINT OF BEGINNING
AND CONTAINING 0.27 ACRES (11,756.37 SQUARE FEET),
LEGAL DESCRIPTION: 222 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
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ON AN ALTAlACSM LAND TITLE SURVEY DATED OCTOBER 29, 1998, PREPARED
BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHWEST RIGHT OF WAY OF 2ND STREET (R!W V ARIES)
AND ELLIS STREET (RIW V ARIES) AND CONTINUING WEST ALONG ELLIS STREET
348.65 FEET :t TO A RAILROAD SPIKE FOUND AND THE TRUE POINT OF
BEGINNING; THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP
WILLIAMS SOUTH 24 DEGREES 26 MINUTES 19 SECONDS WEST A DISTANCE OF
107.86 FEET TO A 3/4 OPEN TOP FOUND; THENCE TURNING AND CONTINUING
ALONG THE LINE OF NIP DEMEDICIS NORTH 66 DEGREES 12 MINUTES 45 SECONDS
WEST A DISTANCE OF 49.61 FEET TO A 1/2 INCH OPEN TOP FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF NIP BAILEY NORTH 24 DEGREES
17 MINUTES 42 SECONDS EAST A DISTANCE OF 108.02 FEET TO A #5 REBAR
FOUND; THENCE TURNING AND CONTINUING ALONG THE SOUTH RIGHT OF WAY
OF ELLIS STREET SOUTH 66 DEGREES 01 MINUTE 14 SECONDS EAST A DIStANCE
OF 49.88 FEET TO THE TRUE POINT OF BEGINNING CONTAINING 0.12 ACRES
(5,369.21 SQUARE FEET).
LEGAL DESCRIPTION: 244 WALKER STREET
ALL THAT LOT OR PARCEL OF LAND, WITH IMPROVEMENTS THEREON, SITUATE,
LYING AND BEING IN THE CITY OF AUGUSTA, RICHMOND COWTY, GEORGIA,
FRONTING 50 FEET, MORE OR LESS, ON THE SOUTH SIDE OF WALKER STREET
BETWEEN HOUSTON (SECOND) AND LINCOLN (THIRD) STREETS AND EXTENDING
BACK IN A SOUTHERLY DIRECTION BETWEEN PARALLEL LINES A DISTANCE OF
132 FEET, MORE OR LESS, AND BEING KNOWN AND DESIGNATED AS LOT 115 ON A
PLAT RECORDED IN THE OFFICE OF THE CLERK OF SUPERIOR COURT OF . .
RICHMOND COUNTY, GEORGIA, IN REALTY BOOK 2F, PAGES 252 - 253, AND
BOUNDED AS FOLLOWS: ON THE NORTH, BY WALKER STREET; ON THE EAST, BY
LOT 114 OF SAID PLAT; ON THE SOUTH, BY LOT NOW OR FORMERLY OF THE
ESTATE OF W.T. DAVIDSON; AND ON THE WEST, BY LOT 116 OF SAID PLAT.
SAID PROPERTY IS KNOWN AND DESIGNATED AS 244 WALKER STREET
.ACCORDING TO THE SYSTEM OF STREET NUMBERING CURRENTLY IN USE IN
AUGUSTA, RICHMOND COUNTY, GEORGIA.
LEGAL DESCRIPTION: 236 AND 238 WALKER STREET
ALL THAT LOT OR PARCEL OF LAND, WITH IMPROVEMENTS THEREON, SITUATE,
LYING AND BEING IN THE CITY OF AUGUST A, RICHMOND COUNTY, GEORGIA, ON
THE SOUTH SIDE OF WALKER STREET, BETWEEN HOUSTON (SECOND) STREET
AND LINCOLN (THIRD) STREETS, HAViNG A FRONTAGE ON SAID WALKER STREET
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OF 40 FEET, MORE OR LESS, AND EXTENDING BACK IN A SOUTHERLY DIRECTION
OF EVEN WIDTH A DISTANCE OF 132 FEET, MORE OR LESS, AND BEING BOUNDED:
ON THE NORTH, BY WALKER STREET; ON THE EAST, BY LOT NOW OR FORMERLY
OF MARY W. TERRILL; ON THE SOUTH, BY PROPERTY NOW OR FORMERLY OF H,S.
JONES; AND ON THE WEST, BY PROPERTY NOW OR FORMERLY OF EARL A.
ROOKS. SAID LOT BEING FORMERLY DESIGNATED AS LOT NO.8, BLOCK 4, WARD
1 ON THE PLAT BOOK OF THE CITY COUNCIL OF AUGUSTA, BUT IS NOW
DESIGNATED AS LOT NO.8, BLOCK 41, BLOCK A OF THE PRESENT CITY COUNCIL
OF AUGUSTA PLAT BOOK, AND BEING A PORTION OF THE PROPERTY CONVEYED
TO MRS. THELMA STEPHENS CORMAN, AIKIA MRS. THELMA STEPHENS KORMAN
BY VIRTUE OF A YEAR'S SUPPORT FROM THE ESTATE OF ALEX CORMAN AlK./A
ALEX KORMAN.
A MORE RECENT PLAT PREPARED BY TOOLE SURVEYING COMPANY FOR OLDE
TOWN PROPERTIES I, DATED MARCH 20, 1989 IS RECORDED IN THE OFFICE OF THE
CLERK OF SUPERIOR COURT OF RICHMOND COUNTY, GEORGIA, IN REALTY REEL
307, PAGE 714.
SAID PROPERTY IS KNOWN AND DESIGNATED AS 236-238 WALKER STREET
ACCORDING TO THE SYSTEM OF STREET NUMBERING CURRENTLY IN USE IN
AUGUSTA, RICHMOND COUNTY, GEORGIA.
LEGAL DESCRIPTION: 212 ELLIS STREET
ALL THAT LOT OR PARCEL OF LAND, WITH IMPROVEMENTS THEREON, SITUATE,
LYING AND BEING IN THE CITY OF AUGUSTA, RICHMOND COUNTY, GEORGIA,
BEGINNING AT A POINT ON THE SOUTH SIDE OF ELLIS STREET, WHICH POINT IS
150 FEET FROM THE INTERSECTION OF THE RIGHTS OF WAY OF SECOND STREET
AND ELLIS STREET AT THE SOUTHWESTERNMOST POINT OF INTERSECTION;
THENCE TURNING SOUTH 25 DEGREES 1 MINUTE WEST AND RUNNING A
DISTANCE OF 135.25 FEET TO AN IRON PIPE; THENCE, TURNING NORTH 65
DEGREES 30 MINUTES WEST AND RUNNING A DISTANCE OF 48.7 FEET; THENCE,
TURNING NORTH 24 DEGREES 30 MINUTES EAST AND RUNNING A DISTANCE OF
24 FEET; THENCE TURNING SOUTH 65 DEGREES 30 MINUTES EAST AND RUNNING
A DISTANCE OF 3 FEET; THENCE, TURNING NORTH 24 DEGREES 30 MINUTES EAST
AND RUNNING A DISTANCE OF 111.25 FEET TO A NAIL AND CAP IN THE
CONCRETE ON THE SOUTH SIDE OF ELLIS STREET; THENCE TURNING SOUTH 65
DEGREES 30 MINUTES EAST AND RUNNING A DISTANCE OF 47 FEET ALONG THE
SOUTH SIDE OF ELLIS STREET TO THE POINT OF BEGINNING.
SAID PROPERTY IS DELINEATED ,ON A CERTAIN PLAT OF THE SAME PREPARED
BY BOBBY G. PRICE, REGISTERED LAND SURVEYOR, A COpy OF WHICH IS
ATTACHED TO AND INCORPORATED IN AN EXECUTOR'S DEED CONVEYING SAID
PROPERTY TO DOWNTOWN AUGUSTA, INe. DATED SEPTEMBER 15, 1977 AND
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RECORDED IN THE OFFICE OF THE CLERK OF SUPERIOR ~OURT OF RICHMOND
COUNTY, GEORGIA, IN REALTY REEL 82, PAGES 459-461.
SAID PROPERTY IS THE SAME PROPERTY WHICH WAS CONVEYED TO GORDON W.
CHAMBERS BY WARRANTY DEED FROM JULIA R. COHEN DATED AUGUST 28, 1993
AND RECORDED IN REALTY BOOK 12Q, PAGE 228, IN THE CLERK'S OFFICE.
LEGAL DESCRIPTION 214 - 216 ELLIS STREET
AiL THAT LOT OR PARCEL OF LAND WITH IMPROVEMENTS THEREON, SITUATE.
LYING AND BEING IN THE CITY OF AUGUSTA, RICHMOND COUNTY, GEORGIA,
FRONTING 50 FEET MORE OR LESS ON THE SOUTH SIDE OF ELLIS STREET
BETWEEN HOUSTON (SECOND) AND LINCOLN (THIRD) STREETS, AND EXTENDING
BACK OF EVEN WIDTH 110 FEET, MORE OR LESS, AND BEING BOUNDED: ON THE
NORTH BY ELLIS STREET, ON THE EAST BY LOT NOW OR FORMERLY OF
CHAMBERS ON THE SOUTH BY LOT NOW OR FORMERLY OF MCCARRELL AND ON
THE WEST BY LOT NOW OR FORMERLY OF HOWARD ESTATE..
ALSO ALL THAT LOT OR PARCEL OF LAND WITH IMPROVEMENTS THEREON _
SITUATE, LYING AND BEING IN THE CITY OF AUGUSTA, RICHMOND COUNTY, :
GEORGIA, FRONTING 3 FEET ON THE SOUTH SIDE OF ELLIS STREET BETWEEN
HOUSTON (SECOND) AND LINCOLN (THIRD) STREETS AND EXTENDING BACK OF
EQUAL WIDTH 126 FEET AND BEING BOUNDED: ON THE NORTH BY ELLIS STREET,
ON THE EAST BY LOT NOW OR FORMERLY OF JULIA R. COHEN FROM WHICH THIS
STRIP WAS TAKEN ON THE SOUTH BY LOT NOW OR FORMERLY OF JULIA R.
COHEN AND ON THE WEST BY LOT NOT OR FORMERLY OF MATTIE M. SATCHER.
SAID PROPERTY IS KNOWN AND DESIGNATED AS 214-216 ELLIS STREET
ACCORDING TO THE SYSTEM OF STREET NUMBERING CURRENTLY IN USE IN
AUGUSTA, RlCHMOND COUNTY, GEORGIA.
PROPERTY HEREINABOVE DESCRIBED AS 212 ELLIS STREET AND 214-216 ELLIS
STREET BEING THE SAME PROPERTY AS MORE P ARTICULARL Y DESCRIBED ON
THAT CERTAIN ALTAlACSM LAND TITLE SURVEY DATED NOVEMBER 12, 1998,
PREP ARED BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662 AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHWEST RIGHT OF WAY OF 2ND STREET (RIW V ARIES)
AND ELLIS STREET (RIW VARIES) AND CONTINUING WEST A DISTANCE OF 151.0
FEET :t TO A #5 REBAR FOUND AND THE TRUE POINT OF BEGINNING; THENCE
TURNING AND CONTINUING ALONG THE LINE OF N/F BROWN SOUTH 25 DEGREES
07 MINUTES 02 SECONDS WEST A DISTANCE OF 135.25 FEET TO A 1 1/2 INCH OPEN
TOP FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP
PHILLIPS NORTH 65 DEGREES 26 MINUTES 31 SECONDS WEST A DISTANCE OF
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48.70 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG
THE LINE OF N/F SWEAT NORTH 24 DEGREES 19 MINUTES 50 SECONDS EAST A
DISTANCE OF 23.94 FEET TO A #4 REBAR SET; THENCE CONTINUING ALONG THE
LINE OF NIP SWEAT NORTH 64 DEGREES 24 MINUTES 49 SECONDS WEST A
DISTANCE OF 49.31 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIP WALTON NORTH 23 DEGREES 53 MINUTES
54 SECONDS EAST A DISTANCE OF 109.38 FEET TO A #5 REBAR FOUND; THENCE
TURNING'AND CONTINUING ALONG THE SOUTHERN RIGHT -OF- WAY OF ELLIS
STREET SOUTH 66 DEGREES 02 MINUTES 11 SECONDS EASTA DISTANCE OF 100,67
FEET TO A #5 REBAR FOUND AND THE TRUE POINT OF BEGINNING AND
CONTAINING 0,28 ACRES (12,170.34 SQUARE FEET)
LEGAL DESCRIPTION 211 & 213 BROAD STREET
ALL THAT LOT OR PARCEL OF LAND, WITH IMPROVEMENTS THEREON, SITUATE,
LYING AND BEING IN THE CITY OF AUGUSTA, RICHMOND COUNTY, GEORGIA,
FRONTING 42 FEET, MORE OR LESS, ON THE NORTH SIDE OF BROAD STREET, AND
EXTENDING BACK BETWEEN PARALLEL LINES A DISTANCE OF 134 FEET, MORE
OR LESS, AND BEING DESIGNATED AS EXHIBIT "B" ON A PLAT ATTACHED TO ~
AWARD OF YEAR'S SUPPORT MADE TO MARY ALICE WISE FROM THE ESTATE OF
J. THOMAS WISE, APPEARING OF RECORD IN YEAR'S SUPPORT BOOK 2-J, PAGE 46,
IN THE OFFICE OF THE CLERK OF SUPERIOR COURT OF RICHMOND COUNTY,
GEORGIA, AND BEING BOUNDED: ON THE NORTH, BY PROPERTY NOW OR
FORMERLY OF T.F. BROADWATER; ON THE EAST, BY PROPERTY NOW OR
FORMERLY OF F.H. CASEY; ON THE SOUTH BY BROAD STREET; AND THE WEST, .
BY PROPERTY NOW OR FORMERLY OF B.F. DAVIS.
SAID PROPERTY IS KNOWN AND DESIGNATED AT 211-213 BROAD STREET
ACCORDING TO THE SYSTEM OF STREET NUMBERING CURRENTLY IN USE IN
AUGUSTA, RICHMOND COUNTY, GEORGIA.
LEGAL DESCRIPTION 107 ELLIS STREET
ALL THAT LOT OR PARCEL OF LAND. WITH IMPROVEMENTS THEREON, SITUATE,
LYING AND BEING IN THE CITY OF AUGUSTA, RICHMOND COUNTY, GEORGIA, AT
THE NORTHEAST CORNER OF ELLIS AND FORSYTH STREETS, HAVING A FRONT
OF 40 FEET ON ELLIS STREET AND RUNNING BACK OF EVEN WIDTH 98 FEET,
MORE OR LESS, AND BEING BOUNDED AS FOLLOWS: ON THE NORTH, BY LOT,
NOW OR FORMERLY, OF MRS. KATE V. O'NEALL; ON THE EAST, BY PROPERTY,
NOW OR FORMERLY, OF CHARLES D. CARR; ON THE SOUTH, BY ELLIS STREET;
AND ON THE WEST, BY FORSYTHE STREET.
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SAID PROPERTY IS KNOWN AND DESIGNATED AS 107 ELLIS STREET ACCORDING
TO THE SYSTEM OF NUMBERING CURRENTLY IN USE IN AUGUSTA, RICHMOND
COUNTY, GEORGIA.
LEGAL DESCRIPTION 133 BROAD STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY, DATED OCTOBER 28, 1998, LAST
REVISED DECEMBER 7,1998, PREPARED BY W.R. TOOLE ENGINEERS, INC., AND
CERTIFIED BY STEVEN M. HARDY, GEORGIA REGISTERED LAND SURVEYOR NO.
2662 AND HAVING THE FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHEAST RIGHT-OF-WAY OF 2ND STREET (RIW VARIES)
AND BROAD STREET (R!W V ARIES) AND CONTINUING EAST ALONG THE NORTH
! RIGHT -OF- WAY OF BROAD STREET 40 FEET::!: TO A #4 REBAR FOUND AND THE
POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE LINE' OF
N/F IMAN, INe. & N/F BAIN NORTH 24 DEGREES 00 MINUTES 44 SECONDS EAST A
DISTANCE OF 137.92 FEET TO A POINT; THENCE TURNING AND CONTINUING _
ALONG THE LINE OF NIP DOWNTOWN AUGUSTA, INC. SOUTH 67 DEGREES 13 :
MNUTES 30 SECONDS EAST A DISTANCE OF 47,33 FEET TO.A #5 REBAR FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP SW ANCY SOUTH 22
DEGREES 54 MINUTES 45 SECONDS WEST A DISTANCE OF 137.97 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONGTHE NORTH RlGHT-
OF- WAY OF BROAD STREET NORTH 67 DEGREES 07 MINUTES 49 SECONDS WEST A
DISTANCE OF 49.99 FEET TO THE POINT OF BEGINNING.
LEGAL DESCRIPTION 303 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY, DATED 11/9/98, PREPARED BY W.R.
TOOLE ENGINEERS, INC., AND CERTIFIED BY STEVEN M. HARDY, GEORGIA
REGISTERED LAND SURVEYOR NO. 2662 AND HAVING THE FOLLOWING METES
AND BOUNDS TO WIT: -
BEGINNING AT THE NORTHWEST RIGHT -OF - WAY OF 3RD STREET (R/W VARIES)
AND ELLIS STREET (R/W VARIES) AND CONTINUING WEST ALONG THE RIGHT OF
WAY OF ELLIS STREET 44.0 FEET::!: TO A 3/4 INCH OPEN TOP FOUND AND THE
POINT OF BEqINNING; THENCE TURNING AND CONTINUING ALONG THE NORTH
RIGHT -OF-WAY OF ELLIS STREET NORTH 66 DEGREES 00 MINUTES 00 SECONDS
WEST A DISTANCE OF 40.31 FEET TO A #4 REBAR SET; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIP OLDE TOWN PROPERTIES NORTH 24
DEGREES 36 MINUTES 21 SECONDS EAST A DISTANCE OF 132.52 FEET TO A 5/8
INCH OPEN TOP FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE
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OF NIP BROWN SOUTH 65 DEGREES 40 MINUTES 17 SECONDS EAST A DISTANCE
OF 40.48 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING
ALONG THE LINE OF NIP DOWNTOWN AUGUSTA, INC. SOUTH 24 DEGREES 40
MINUTES 52 SECONDS WEST A DISTANCE OF 132.29 FEET TO THE POINT OF
BEGINNING AND CONTAINING 0.12 ACRES (5,347.50 SQUARE FEET).
LEGAL DESCRIPTION 240 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "B" ON AN ALTAlACSM LAND TITLE SURVEY, DATED 11/4/98,
PREP ARED BY W.R. TOOLE ENGINEERS, INC., AND CERTIFIED BY STEVEN M,
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662 AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT -OF - WAY OF 3RD STREET (R/W V ARIES)
AND ELLIS STREET (R!W VARIES) AND CONTINUING EAST ALONG THE SOUTH
RIGHT-OF-WAY OF ELLIS STREET 126.98 FEET::!: TO A #5 REBAR FOUND AND THE
POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE SOUTH
RIGHT-OF-WAY OF ELLIS STREET SOUTH 65 DEGREES 58 MINUTES 12 SECONDS:
EAST A DISTANCE OF 40.02 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF 238 ELLIS STREET SOUTH 23 DEGREES 13
MINUTES 03 SECONDS WEST A DISTANCE OF 133.97 FEET TO A #5 REBAR FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP DAVENPORT & NIP
BUCKLEY NORTH 64 DEGREES 28 MINUTES 07 SECONDS WEST A DISTANCE OF
40.62 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG
THE LINE OF 246 ELLIS STREET NORTH 23 DEGREES 27 MINUTES 57 SECONDS
EAST A DISTANCE OF 132.90 FEET TO THE POINT OF BEGINNING AND
CONTAINING 0.12 ACRES (5,377,60 SQUARE FEET).
LEGAL DESCRIPTION 238 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "A" ON AN ALTAlACSM LAND TITLE SURVEY, DATED 11/4/98,
PREPARED BY W.R. TOOLE ENGINEERS, INe.,AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662 AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT -OF- WAY OF 3RD STREET (RIW V ARIES)
AND ELLIS STREET (RIW V ARIES) AND CONTINUING EAST ALONG THE SOUTH
RIGHT -OF - WAY OF ELLIS STREET 167,00 FEET::!: TO A #5 REBAR FOUND AND THE
POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE SOUTH
RIGHT-OF-WAY OF ELLIS STREET SOUTH 66 DEGREES 02 MINUTES 19 SECONDS
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EAST A DISTANCE OF 59.85 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIP BOLD SOUTH 24 DEGREES 26 MINUTES 51
SECONDS WEST A DISTANCE OF 134.34 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF NIP HAYES & NIP DAVENPORT
NORTH 65 DEGREES 39 MINUTES 41 SECONDS WEST A DISTANCE OF 56,98 FEET TO
A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF
240 ELLIS STREET NORTH23 DEGREES 1JMINUTES 03 SECONDS EAST A DISTANCE
OF 133.97 FEET TO THE POINT OF BEGINNING AND CONTAINING 0,18 ACRES
(7,836.54 SQUARE FEET).
LEGAL DESCRIPTION 403 AND 405 WALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY, DATED 11/6/98, PREPARED BY W.R.
TOOLE ENGINEERS, INC., AND CERTIFIED BY STEVEN M. HARDY, GEORGIA
REGISTERED LAND SURVEYOR NO. 2662 AND HAVING THE FOLLOWING METES
AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT-OF-WAY OF 4TH STREET (R!W V ARIES)
AND WALKER STREET (RIW V ARIES) AT A P.K. NAIL FOUND THE POINT OF
BEGINNING; THENCE TURNING AND CONTINUING ALONG THE NORTH RIGHT-OF-
WAY OF WALKER STREET NORTH 64 DEGREES 56 MINUTES 55 SECONDS WEST A
DISTANCE OF 100.28 FEET TO A #4 REBAR SET; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIP ZARGE NORTH 24 DEGREES 19 MINUTES 28
SECONDS EAST A DISTANCE OF 90.16 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF NIP NAOMI SOUTH 64 DEGREES
34 MINUTES 02 SECONDS EAST A DISTANCE OF 100.20 FEET TO A POINT; THENCE
TURNING AND CONTINUING ALONG THE WEST RIGHT-OF-WAY OF 4TH STREET
SOUTH 24 DEGREES 15 MINUTES 59 SECONDS WEST A DISTANCE OF 89.49 FEET TO
THE POINT-OF-BEGINNING AND CONTAINING 0.21 ACRES (9,002.57 SQUARE FEET),
LEGAL DESCRIPTION 246 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "C" ON AN ALTAlACSM LAND TITLE SURVEY DATED 11/4/98, PREPARED
BY W,R, TOOLE ENGINEERS, INC., AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662 AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT -OF - WAY OF 3RD STREET (RIW V ARIES)
AND ELLIS STREET (R/W VARIES) 82 FEET :'= TO A #5 REBAR FOUND AND THE
POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE SOUTH
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NORTH, BY ELLIS STREET; ON THE EAST, BY PROPERTY NOW OR FORMERLY OF
BADGER; ON THE SOUTH, BY PROPERTY NOW OR FORMERLY OF MURPHEY; ON
THE WEST, BY PROPERTY NOW OR FORMERLY OF HARRISON.
SAID PROPERTY IS KNOWN AND DESIGNATED AS 204 ELLIS STREET ACCORDING
TO THE SYSTEM OF STREET NUMBERING CURRENTLY USED IN AUGUSTA,
RICHMOND COUNTY, GEORGIA.
LEGAL DESCRIPTION: 306 2ND STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY DATED NOVEMBER 5, 1998, LAST
REVISED DECEMBER 7,1998, PREPARED BY W. R. TOOLE ENGINEERS, INC., AND
CERTIFIED BY STEVEN M. HARDY, GEORGIA REGISTERED LAND SURVEYOR NO.
2662 AND HAVING THE FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT-OF-WAY OF ELLIS STREET (R!W VARIES)
AND 2ND STREET (RIW VARIES) AND CONTINUING SOUTH 39 FEET :t TO A #5
REBAR FOUND AND THE POINT OF BEGINNING; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIP PETTIGREW SOUTH 70 DEGREES 47
MINUTES 28 SECONDS EAST A DISTANCE OF 82.81 FEET TO A 11/2 INCH OPEN TOP
FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP RAMBO &
NIP WEATHERS SOUTH 19 DEGREES 27 MINUTES 24 SECONDS WEST A DISTANCE
OF 43.62 FEET TO POINT; THENCE TURNING AND CONTINUING ALONG THE LINE
OF NIP WRIGHT NORTH 70 DEGREES 15 MINUTES 37 SECONDS WEST A DISTANCE
OF 19.31 FEET TO A POINT; THENCE TURNING AND CONTINUING SOUTH 18
DEGREES 57 MINUTES 16 SECONDS WEST A DISTANCROF 4.58 FEET TO A POINT;
THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP WRIGHT NORTH 70
DEGREES 43 MINUTES 46 SECONDS WEST A DISTANCE OF 65.26 FEET TO 'A PUNCH
IN CONCRETE; THENCE TURNING AND CONTINUING ALONG THE EAST RIGHT -OF-
WAY OF 2ND STREET NORTH 21 DEGREES 31 MINUTES 05 SECONDS EAST A
DISTANCE OF 47.98 FEET TO THE POINT OF BEGINNING.
LEGAL DESCRIPTION: 515 3RD STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY DATED 11/4/98, PREPARED BY W. R.
TOOLE ENGINEERS, INe., AND CERTIFIED BY STEVEN M. HARDY, GEORGIA
REGISTERED LAND SURVEYOR NO. 2662 AND HAVING THE FOLLOWING METES
AND BOUNDS TO WIT:
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BEGINNING AT THE NORTHWEST RIGHT-OF-WAY OF WALKER STREET (R/W
VARIES) AND 3RD STREET (R!W VARIES) AND CONTINUING NORTH ALONG THE
WEST RIGHT-OF-WAY OF 3RD STREET 61.59 FEET:t TO A #4 REBAR SET THE POINT
OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP
FLANAGAN NORTH 66 DEGREES 25 MINUTES 27 SECONDS WEST A DISTANCE OF
73.64 FEET TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE
LINE OF NIP WIGGINS NORTH 23 DEGREES 44 MINUTES 48 SECONDS EAST A
DISTANCE OF 46.83 FEET TO A 5/8 INCH OPEN TOP FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIP RICHARDS SOUTH 65 DEGREES 55 MINUTES
31 SECONDS EAST A DISTANCE OF 73.39 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE WEST RIGHT -OF- WAY OF 3RD STREET
SOUTH 23 DEGREES 26 MINUTES 22 SECONDS WEST A DISTANCE OF 46.19 FEET TO
THE POINT OF BEGINNING AND CONTAINING 0.08 ACRES (3,419.07 SQUARE FEET).
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Mter recording,return to:
Harry Revell, Esq"
Burnside, Wall, Ellison & Daniel
454 Greene Street
Augusta, Georgia 30901
LAND USE RESTRICTION AGREEMENT
This Land Use Restriction Agreement ("Agreement") is executed December ~1, 1998
by and between the Augusta, Georgia, a political subdivision of the State of Georgia (the
"Lender") and 01de Town Associates, L.P., a Georgia limited partnership (the "Owner").
WHEREAS, Owner owns the land described on the attached Exhibit A with the
improvements located on it, including a multi-family rental housing project, commonly
known as "Olde Town Apartments" (the land and improvements are collectively referred to
as the "Property") which constitutes "affordable housing" as defined in Section 215 of the
Act (as defined below); and
WHEREAS, Lender has agreed to lend $1,137,000 in HOME Funds to Owner to
rehabilitate the Property (the "Loan"); and
WHEREAS, pursuant to Section 215(a)(1)(E) of the Act, and the HOME
Regulations, Owner must comply with occupancy, rent, and other restrictions;
NOW, THEREFORE, in consideration of the premises and other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the parties
agree as follows:
Article 1.
Definitions
1.01. "Act" means Section 215 of Title II of the Cranston-Gonzalez National Affordable
Housing Act, Pub. L. 101-625, as amended, or any corresponding provision(s) of succeeding
law, as amended from time to time.
1.02. "Adjusted Income" means "adjusted income" as defined in 24"C.F.R. 92.203.
1.03. "Mfordability Period" means the period beginning on the date of this Agreement and
continuing until the thirtieth anniversary of the Completion Date (as defined in the Note),
1.04. "Annual Income" means "annual income" as defined in 24 C.F.R. 92,203.
1.05. "Area Median Income" means the median income, adjusted for family size, for the
area where the Property is located, as established by HUD at least annually.
1.06. "Business Day" means a day on which the Lender is open for the transaction of
business in Augusta, Georgia. Any other reference to "day" shall mean a calendar day.
1.07. "HOME Funds" means funds provided under the HOME Program.
1.08. "HOME Program" means the federal housing program established pursuant to the
Act and the HOME Regulations.
1.09, "HOME Regulations" mean the regulations under the Act governing the HOME
Program by HUD or any successor, as amended from time to time (currently at Title 24
Part 92 of the Code of Federal Regulations).
1.10. "HUD" means the United States Department of Housing and Urban Development.
1.11. "Low Income Families" or "Low Income Family" means families and individuals
whose Annual Incomes do not exceed 60% of the Area Median Income.
1.12. "New Entity" means (a) Owner; (b) any family member of Owner; or (c) any person or
entity that: (1) directly or indirectly controls or is controlled by or is under common control
with Owner; (2) is an officer of, partner in, trustee of, or serves in a similar capacity with
Owner or of which Owner is an officer, partner, or trustee, or with which Owner serves in a
similar capacity; or (3) is the beneficial owner, directly or indirectly, of 10% or more of any
class of equity securities or any ownership interest in Owner or of which Owner directly or
indirectly owns 10% or more of any class of equity securities or any ownership interest.
1.13. "Owner" means the current Owner and any successor in title to the Property during
the Affordability Period.
1.14. "Section 8" means section 8 of the United States Housing act of 1937 or any
corresponding provision(s) of succeeding law, as amended from time to time.
1.15. "Security Deed" means the Deed to Secure Debt and Security Agreement from
Owner to Lender transferring the Property as security for payment of the Loan,
1.16. "Unit" means an apartment or other residential unit on the Property that was
rehabilitated with HOME Funds and is reserved for rental to Low Income Families or Very
Low Income Families or an apartment or other residential unit that is not rehabilitated
with funds provided under the HOME Program, but which is subsequently designated as
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being reserved for rental to Low Income Families or Very Low Income Families under this
Agreement.
1.17. "Utility Allowance" means a monthly allowance for utilities and services (excluding
telephone) to be paid by the tenant, which monthly allowance is subject to Lender's
approval on an annual basis and the HOME Regulations.
1.18. "Very Low Income Families" or "Very Low Income Family" means low income
families and individuals whose Annual Incomes do not exceed 50% of the Area Median
Income,
Article 2.
Use and Occupancy Limitations
2.01. Use of the Propertv. During the Affordability Period on a continuous basis, Owner
will maintain the Property as rental housing and will rent or offer for rent to Low Income
Families and Very Low Income Families each Unit.
2.02. Occupancy Requirements. During the Mfordability Period, Owner shall make
continuously available for occupancy by Low Income Families not less than 116 Units with
the number of the bedrooms and as otherwise specified on Exhjbit B, including not less
than 4 7 Units for Very Low Income Families. Owner shall use its best efforts to avoid
concentration of Low Income Families or Very Low Income Families in any area or areas of
the Property.
2,03. Income Determination,
(a) In accordance with procedures set forth in the HOME Regulations, Owner
shall determine whether the Annual Income of a family or individual occupying or seeking
to occupy a Unit exceeds the applicable income limit for Low Income Families and Very Low
Income Families before permitting the family or individual to occupy the Unit (or before
designating a rental unit occupied by such family or individual as a Unit). Mter the initial
determination, Owner shall determine at least annually whether the Annual Income of
each tenant in a Unit satisfies the limits, which determination will be made in accordance
with procedures set forth in the HOME Regulations,
(b) If it is determined upon re-examination of the Annual Income of a tenant that
has been a Very Low Income Family that the tenant's Annual Income exceeds the
applicable income limit for a Very Low Income Family but not the applicable income limit
for a Low Income Family, the Unit occupied by the tenant shall count as occupied by a Very
Low Income Family during such tenant's continuing occupancy of the Unit so long as
Owner shall make the next available rental unit (regardless of whether the unit was
rehabilitated with HOME Funds) available for occupancy by a Very Low Income Family.
(c) If it is determined upon re-examination of the Annual Income of a tenant that
has been a Low Income Family that the tenant's Annual Income exceeds the applicable
income limit for a Low Income Family, the Unit occupied by the tenant shall be counted as
occupied by a Low Income Family so long as: (1) the tenant pays as rent no less than 30% of
the tenant's monthly Adjusted Income, as recertified annually (but no more than a fair
market rent); and (2) Owner shall make the next available rental unit (regardless of
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whether the rental unit was rehabilitated with HOME Funds) available for occupancy by a
Low Income Family or Very Low Income Family, whichever is needed to meet the
occupancy requirements of Section 2.02.
(d) Owner shall not be in violation of Section 2.02 or 2,03 if, in determining
Annual Income and family composition of Low Income Families and Very Low Income
Families: (1) Owner has relied in good faith upon information that tenant supplied to
Owner; (2) Owner has no reason to believe such information is false; and (3) Owner has
complied with all of Lender's requirements for verification of household income and family
composition.
Article 3. Rent Limitations
3.01. Rent Limitations. The maximum rent that Owner may charge for Units is as
follows:
(a) for Low Income Families (other than Very Low Income Families), the rent
shall not exceed the lesser of: (1) the amount equal to the fair market rent for comparable
rental units in area where the Property is located, as established by HUD under Section 8
less the Utility Allowance; or (2) the amount equal to 30% of the Adjusted Income of a
family whose income is 60% of the Area Median Income less the Utility Allowance.
(b) for Very Low Income Families, the rent shall not exceed the lesser of: (1) the
amount equal to the fair market rent for comparable rental units in area where the
Property is located, as established by HUD under Section 81ess the Utility Allowance; (2)
the amount equal to 30% of the Adjusted Income of a family whose income is 50% of the
Area Median Income less the Utility Allowance; or (3) the maximum rent for Low Income
Families, as determined in clause (a).
Article 4. Administration
4.01, Certification bv Owner. During the Mfordability Period, on each anniversary of the
date of this Agreement, Owner shall certify to Lender Owner's compliance with this
Agreement, which certification shall be in a form and content satisfactory to Lender. From
time to time, Lender or HUD will monitor Owner's compliance with this Agreement.
4.02. Maintenance of Documents. During the Affordability Period, Owner shall keep all
tenant lists, applications, leases, waiting lists, and income examinations and re-
examinations relating to the Property separate from any other business records of Owner
that are unrelated to the Property, Owner shall maintain all records relating to the
Property in compliance with the HOME Regulations and any Lender requirements and in a
reasonable condition for proper audit. During business hours, representatives of Lender,
HUD, or the United States Comptroller General shall have the right to examine and
photocopy any records relating to the Property.
4.03. Compliance Review. In conducting its compliance review, Lender or HUD will rely
primarily on information obtained from Owner's records and reports and findings from on-
site monitoring and audit reports, Lender or HUD may also consider relevant information
gained from other sources, including litigation and citizen complaints.
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Article 5.
Owner's Representations and Warranties
5.01. Representations and Warranties. Owner represents and warrants to Lender that:
(a) 116 rental units are to be rehabilitated with HOME Funds.
(b) Owner has validly executed this Agreement, and it is a valid and binding
obligation of Owner. Owner has full power, authority, and capacity to enter into this
Agreement, carry out Owner's obligations in this Agreement, and assume responsibility for
compliance with all applicable rules, regulations, and requirements governing the HOME
Program, including the HOME Regulations.
(c) To the best of Owner's knowledge, the making of this Agreement and the
fulfillment of Owner's obligations under it: (1) will not violate any contractual covenants or
restrictions between Owner and any third party; (2) will not violate any contractual
covenants or restrictions affecting the Property; (3) will not conflict with any applicable
public or private restrictions; (4) do not require any consent or approval of any public or
private authority that has not already been obtained; and (5) will not conflict with any of
the instruments that create or establish Owner's authority.
(d) Owner has not and will not execute any other agreement or instrument that
conflicts with any provision of this Agreement, In any event, Owner agrees that this
Agreement is paramount and controlling as to the rights and obligations contained in it and
supersedes any other requirements in conflict with it.
(e) Owner has freely and without reservation executed this Agreement. The
receipt of financial assistance from the Lender is an essential part of the consideration for
this Agreement.
(f) To the best of Owner's kn;w1edge, no action, proceeding, investigation, or
litigation is now pending or threatened against Owner or the Property, which, if adversely
determined, could individually or in the aggregate have an adverse effect on the
enforceability of this Agreement, Owner's fulfillment of its obligations under it, title, to or
the use, enjoyment, or value of the Property or which could in any way interfere with the
consummation of this Agreement. .
(g) To the best of Owner's knowledge, there is not pending or threatened against
Owner any case, proceeding, or other action in bankruptcy, whether voluntary or otherwise,
any assignment for the benefit of creditors, or any petition seeking reorganization,
arrangement, composition, readjustment, liquidation, dissolution, or similar relief for
Owner under any federal or state statute, law, or regulation relating to bankruptcy,
insolvency, or relief of debtors.
5.02, Indemnification. Owner indemnities Lender against all liabilities, losses, claims,
and expenses (including reasonable attorneys' fees) incurred by Lender as a result of any
misrepresentation or breach of warranty in this Agreement or any other breach of this
Agreement by Owner.
5
F: \Documents\CAR \ Wh i te Oak\Olde Town \ci ty. I ura.doc
Article 6.
Default, Enforcement, and Remedies
6.01. Events of Default. If any of the following events occur, it will constitute a default
("Event of Default") under this Agreement:
(a) Owner's failure to observe or perform any of its obligations or covenants
under this Agreement, unless the failure is cured within 30 days after Lender's giving
written notice to Owner; or
(b) Any warranty or representation of Owner contained in this Agreement is
untrue or misleading when made; or
(c) . A default or Event of Default under any other agreement or instrument
between Owner and Lender relating to the Loan.
6.02. Remedies. If there is an Event of Default, in its sole discretion, Lender may: (1)
apply to any court having jurisdiction of the subject matter for specific performance of this
Agreement, for an injunction against any violation of this Agreement, or for the
appointment of a receiver to take over and operate the Property in accordance with the
terms of this Agreement; or (2) take any and all action at law, in equity, in restitution, or
otherwise which it deems necessary or advisable. Owner hereby acknowledges that Lender
cannot be adequately compensated by monetary damages for an Event of Default and,
consequently, equitable relief for a breach of this Agreement is appropriate. Lender shall
be entitled to its reasonable attorneys' fees in any such judicial action in which Lender
prevails in whole or part.
6.03, Cumulative Remedies, Lender's rights and remedies under this Agreement are
separate, distinct, and cumulative of other powers and rights that Lender has in law or
equity or under any other agreement or instrument relating to the Loan, No right or
remedy of Lender is exclusive, All of them are cumulative. No act of Lender shall be
construed as an election of an exclusive remedy, unless Lender indicates so in writing. The
fact that Lender exercises or begins to exercise anyone or more of its rights, powers, or
remedies shall not preclude Lender from simultaneously or later exercising any other right,
power, or remedy that Lender may have.
6.04. Enforcement, Any deed, lease; conveyance, contract, or instrument made in
violation of this Agreement by Owner shall be void and may be set aside on Lender's
petition, and all successors, heirs, executors, administrators, or assigns, shall be deemed
parties to this Agreement to the same effect as the original signer. When any such
conveyance or other instrument is set aside by decree of a court of competent jurisdiction,
all costs and all expenses of such proceedings shall be taxed against the offending party or
parties and shall constitute a lien against the real estate so wrongfully deeded, sold, leased,
or conveyed, until paid. Such lien may be enforced in such manner as the court may order.
Article 7.
Revival of Agreement
7.01. Revival of Ae:reement. Subject to the remaining provisions of this section, if Owner
stops owning the Property due to a foreclosure or sale under power pursuant to a mortgage
or security deed that is superior in priority to the Security Deed, this Agreement and the
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restrictions and covenants in it shall terminate and no longer affect the Property. This
Agreement and the covenants and restrictions in it shall be revived, however, and shall
remain in force for the remainder of the Mfordability Period if: (a) the person or entity that
is Owner at the time of or immediately before such foreclosure or sale under power acquires
an ownership interest in the Property at any time during the Mfordability Period; or (b) if a
New Entity acquires an ownership interest in the Property at any time during the
Mfordability Period.
Article 8.
Miscellaneous
8.01. Notices.
(a) All notices and other communications required or permitted under this
Agreement shall be in writing and addressed to the other party at the address set forth in
this section. All such notices shall be deemed to have been given and received as follows:
3 business days from the date of deposit in the U.S. mail, certified mail, return receipt
requested, postage-prepaid; when hand delivered by the party or a courier service; or when
sent by fax. If notices under this Agreement are sent by fax, a courtesy copy of such notice
or other communication shall be sent by mail within one business day after the original
notice is sent, but the original notice shall control with respect to when the notice is deemed
given and received, and the failure to send such courtesy copy shall not affect the validity of
the original notice. The following addresses and the fax numbers shall be used:
If to Owner: 01de Town Associates, L.P.
c/o White Oak 01de Town, Inc,
322 Banyan Boulevard
West Palm Beach, Florida 33401
Attention: Paula J. Ryan
Fax No.: (561) 838-8887
If to Lender: Augusta-Richmond County Commission
530 Greene Street
Augusta, Georgia 30911
Attention: Charles R. Oliver
Fax No.: (706) 821-2819
(b) Owner or Lender may change the address to which notices are to be sent or
the fax number to be used by giving the other party 10 business days written notice of the
change.
8,02. Waiver and Partial Exercise, No failure or delay on the part of Lender to exercise
any right, power, or privilege under this Agreement shall operate as a waiver of any such
right, power, or privilege, Lender's failure to exercise, delay in exercising, or partial
exercise of any such right, power, or privilege shall not preclude any other or further
exercise of any such right, power, or privilege.
8,03. Governing Law: Waiver of Statutory Rights. The interpretation, construction,
validity, and enforcement of this Agreement shall be governed by Georgia law. If any part
7
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of this Agreement requires judicial interpretation, the court interpreting or construing it
shall not apply a presumption that the terms shall be more strictly construed against one
party by reason of the rule of construction that a document is to be construed more strictly
against the party who prepared it, since it is agreed that the agents of both parties have
participated in the preparation of this Agreement.
The parties agree th9:t this Agreement shall supersede any statutory right to
dissolve any covenant restricting land which may be found in O.C.G.A. 44-5-60, or any
successor provision. Owner hereby knowingly and ~ntelligently waives any rights it may
have under O.C.G.A. 44-5-60. Owner warrants and represents that it has read, is familiar
with, and has received legal counsel concerning O.C.G.A. 50-26-8(a)(30), which permits
Lender to impose restrictive covenants that shall be deemed to run with the land to any
person, corporation, partnership, or other form of business entity which receives financial
assistance from Lender, which form of financial assistance shall include tax credits, bond
financing, grants, guarantees of Lender, guarantees of the State, insurance of Lender, and
all other forms of financial assistance, regardless of whether the Lender enjoys privity of
estate or whether the covenants touch and concern the property burdened. Owner agrees
that this Agreement takes precedence over any existing or prospective laws or regulations.
Except as provided in section 7.01, this Agreement shall survive any prepayment,
acceleration, foreclosure, sale under power, or deed in lieu of foreclosure. Owner agrees
that the Property shall be subject to the provisions of this Agreement, including those
provisions set forth in Articles 2 and 3, for the entire Mfordability Period, despite any
prepayment of any financial assistance provided by Lender for the Property.
8.04. Time of Essence. Time is of the essence of this Agreement.
8.05. Severability. If for any reason any part or portion of this Agreement is set aside or
found to be unlawful, those lawful parts or portions remaining shall continue in full force
and effect.
8.06. Binding Effect: Covenants Running with the Land. During the Affordability Period,
this Agreement and the covenants, reservations, and restrictions contained in it shall be
deemed covenants running with the land for the benefit of Lender and its successors and
assigns and shall pass to and be binding upon Owner's heirs, assigns, and successors in
title to the Property and shall render Owner, and any heirs, assigns, and successors liable
for any Event of Default. Subject only to section 7.01, only upon expiration of the
Affordability Period will the covenants, reservations, and restrictions in this Agreement
expire. This Agreement constitutes a charge upon the Property and is not merely a
personal obligation of Owner. Owner hereby acknowledges that this Agreement affects the
legal rights that flow from ownership of the Property and that are connected with the
Property. Each and every contract, deed, or other instrument subsequently executed
covering or conveying the Property or any part of it shall conclusively be held to have been
executed, delivered, and accepted subject to such covenants, reservations, and restrictions,
regardless of whether such covenants, reservations, and restrictions are set forth in such
contract, deed, or other instrument.
This Agreement will inure to the benefit of and be binding upon the respective
parties and their successors and assigns; provided, however, no right, benefit, or advantage
8
F: \Documcnts\CAR \ White Oak\O Ide Town \ci ty.1 ura.doc
inuring to Owner under this Agreement and no obligation imposed on Owner may be
assigned without Lender's prior written "approval.
8.07. Effective Date. This Agreement shall be effective on the date of this Agreement.
8.08. Change in Neighborhood. A substantial or radical change in the character of the
neighborhood surrounding the Property will not extinguish the restrictive covenants in this
Agreement. The restrictive covenants shall survive any and all changed circumstances,
including the following: housing pattern changes; zoning amendments; the issuance of
variances affecting the immediate or surrounding area; increased traffic or road conditions,
enhancement of the value of the Property; growing industrial activity; encroachment of
business areas; development of natural resources; financial downturn of Owner; or
commercialization of the neighborhood in question.
8.09. Attorney's Fees. Any reference to "reasonable attorney's fees" in this Agreement
shall mean reasonable attorney's fees, actually incurred, without regard to any statutory
presumption or definition as to what "reasonable" attorney's fees means.
(This space intentionally left blank)
9
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IN WITNESS WHEREOF, the parties have executed this Land Use Restriction
Agreement on the above date.
Signed, sealed and delivered on the '2-.q
day of December, 1998, in the presence of:
O~DE TOWN ASSOCIATES, L.P.
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F:\Documents\CAR\White Oak\Olde Town\city.lura.doc
EXHIBIT "A"
LEGAL DESCRIPTION 20 & 22 WALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "B" ON AN ALTNACSM LAND TITLE SURVEY DATED NOVEMBER 17,
1998, LAST REVISED DECEMBER 7,1998, PREPARED BY W.R. TOOLE ENGINEERS,
INC. AND CERTIFIED BY STEVEN M. HARDY, GEORGIA REGISTERED LAND
SURVEYOR NO. 2662 AND HAVING THE FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT-OF-WAY OF SIBLEY STREET (RIW
V ARIES)AND WALKER STREET (RIW VARIES) AT A #5 REBAR FOUND, AND THE
TRUE POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE
SOUTHERN RIGHT -OF - WAY OF WALKER STREET SOUTH 66 DEGREES 35 MINUTES
34 SECONDS EAST A DISTANCE OF 40.01 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF 14 & 16 WALKER STREET SOUTH
22 DEGREES 56 MINUTES 15 SECONDS WEST A DISTANCE OF 127.54 FEET TO A
POINT; THENCE TURNING AND CONTINUING ALONG THE LINE OF N/FSEIGLER:
NORTH 67 DEGREES 43 MINUTES 04 SECONDS WEST A DISTANCE OF 40.03 FEET TO
A POINT; THENCE TURNING AND CONTINUING ALONG THE EAST RIGHT -OF- WAY
OF SIBLEY STREET NORTH 22 DEGREES 57 MINUTES 00 SECONDS EAST A
DISTANCE OF 128.32 FEET TO THE TRUE POINT OF BEGINNING.
LEGAL DESCRIPTION 14& 16 WALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "A" ON AN ALTNACSM LAND TITLE SURVEY DATED NOVEMBER 17,
1998, LAST REVISED DECEMBER 7,1998, PREPARED BY W.R. TOOLE ENGINEERS,.
INe. AND CERTIFIED BY STEVEN M, HARDY, GEORGIA REGISTERED LAND
SURVEYOR NO. 2662 AND HAVING THE FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT -OF - WAY OF SIBLEY STREET (RIW V ARIES)
ANDW ALKER STREET (RIW VARIES) AND CONTINUING EAST ALONG THE
SOUTHERN RIGHT-OF-WAY OF WALKER STREET 40.01 FEET TO A #5 REBAR
FOUND, AND THE TRUE POINT-OF-BEGINNING; THENCE TURNING AND
CONTINUING ALONG THE SOUTHERN RIGHT -OF-WAY OF WALKER STREET SOUTH
66 DEGREES 38 MINUTES 45 SECONDS EAST A DISTANCE OF 39.95 FEET TO A 1/2
INCH OPEN TOP FOUND, THENCE TURNING AND CONTINUING ALONG THE LINE
OF N/F PRICEY SOUTH 22 DEGREES 55 MINUTES 04 SECONDS WEST A DISTANCE
OF 128.87 FEET TO A POINT; THENCE TURNING AND CONTINUING ALONG THE
LINE OF N/F SEIGLER NORTH 64 DEGREES 44 MINUTES 13 SECONDS WEST A
DISTANCE OF 40,02 FEET TO A POINT; THENCE TURNING AND CONTINUING
ALONG THE LINE OF 20 & 22 WALKER STREET NORTH 22 DEGREES 56 MINUTES 15
SECONDS EAST A DISTANCE OF 127.54 FEET TO THE SOUTHERN RIGHT-OF-WAY
OF WALKER STREET AND THE TRUE POINT-OF-BEGINNING, >
LEGAL DESCRIPTION: 101 WATKINS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA; BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTA/ACSM LAND TITLE SURVEY, DATED OCTOBER 20, 1998, LAST
REVISED DECEMBER 7,1998 PREPARED BY W.R. TOOLE ENGINEERS, INC. AND
CERTIFIED BY STEVEN M. HARDY, GEORGIA REGISTERED LAND SURVEYOR NO.
2662 AND HAVING THE FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT-OF-WAY OF WATKINS STREET (RJW
VARIES) AND 1ST STREET (RJW VARIES) AT A #5 REBAR SET, AND THE TRUE
POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE NORTH
RIGHT-OF- WAY OF WATKINS STREET NORTH 65 DEGREES 49 MINUTES 34
SECONDS WEST A DISTANCE OF 50.00 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF NfF DR. J.E. CARTER, JR. NORTH.
24 DEGREES 17 MINUTES 52 SECONDS EAST A DISTANCE OF 49.92 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF NfF:
DOWNTOWN AUGUSTA, INC. SOUTH 65 DEGREES 54 MINUTES 48 SECONDS EAST
A DISTANCE OF 50.17 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE WEST RIGHT-OF-WAY OF 1ST STREET SOUTH 24
DEGREES 29 MINUTES 27 SECONDS WEST A DISTANCE OF 20.76 FEET TO A POINT;
THENCE TURNING AND CONTINUING SOUTH 65 DEGREES 30 MINUTES 33
SECONDS EAST A DISTANCE OF 2.55 FEET TO A POINT; THENCE TURNING AND
CONTINUING SOUTH 24 DEGREES 29 MINUTES 27 SECONDS WEST A DISTANCE OF
29.24 FEET TO APOINT; THENCE tURNING AND CONTINUING NORTH 65 DEGREES
30 MINUTES 33 SECONDS WEST A DISTANCE OF 2.55 FEET TO THE TRUE POINT OF
BEGINNING.
LEGAL DESCRIPTION: 305 WALKER STREET
ALL THAT LOT OR PARCEL OF LAND, WITH IMPROVEMENTS THEREON, SITUATE,
LYING AND BEING IN THE CITY OF AUGUSTA, RICHMOND COUNTY, GEORGIA,
FRONTING A DISTANCE OF 60 FEET, MORE OR LESS, ON THE NORTH SIDE OF
WALKER STREET, BETWEEN THIRD AND FOURTH STREETS, AND EXTENDING
BACK OF EVEN WIDTH, A DISTANCE OF 162 FEET, MORE OR LESS, AND BEING
KNOWN AND DESIGNATED AS LOT NO. 119 ON WILLIAM PHILLIPS' MAP OF THE
CITY OF AUGUSTA RECORDED IN THE .oFFICE OF THE CLERK OF SUPERIOR
COURT OF RICHMOND COUNTY, GEORGIA, IN REALTY BOOK '18F, PAGE 420.
REFERENCE IS HEREBY MADE TO SAID PLAT FOR A MORE COMPLETE AND
ACCURATE DESCRIPTION AS TO THE METES, BOUNDS AND LOCATION OF SAID
PROPERTY.
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A MORE RECENT PLAT PREPARED BY TOOLE SURVEYING COMPANY FOR OLDE
TOWN PROPERTIES I, DATED MARCH 16,1989, IS RECORDED IN REALTY REEL 307,
PAGE 713, IN SAID CLERK'S OFFICE.
SAID PROPERTY IS KNOWN AND DESIGNATED AS 305 WALKER STRE~T
ACCORDING TO THE SYSTEM OF STREET NUMBERING CURRENTLY IN USE IN
AUGUSTA, RICHMOND COUNTY, GEORGIA.
LEGAL DESCRIPTION: 260 REYNOLDS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, AND BEING MORE FULLY SHOWN AND
DESIGNATED ON AN ALTA/ACSM LAND TITLE SURVEY DATED 10/9/98 PREPARED
BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO, 2662 AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHWEST RIGHT-OF-WAY INTERSECTION OF 2ND STREET
(RIW VARIES) AND REYNOLDS STREET (RIW VARIES) AND CONTINUING WEST
ALONG THE SOUTH RIGHT -OF- WAY OF REYNOLDS STREET 609.31 FEET:t TO A 5/8
INCH OPEN TOP FOUND, AND THE TRUE POINT OF BEGINNING; THENCE TURNING
AND CONTINUING ALONG THE LINE OF N/F GAY, SOUTH 24 DEGREES 16 MINUTES
35 SECONDS WEST AS DISTANCE OF 115.11 FEET TO A 5/8 INCH OPEN TOP FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F BATTEY, NORTH 66
DEGREE4S07 MINUTES 17 SECONDS WEST A DISTANCE OF 25.50 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG AN EXISTING
ALLEY NORTH 03 DEGREES 49 MINUTES 11 SECONDS EAST A DISTANCE OF 43,61
FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG AN
EXISTING ALLEY NORTH 24 DEGREES 12 MINUTES 15 SECONDS EAST A DISTANCE
A DISTANCE OF 74.24 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG TI:IE SOUTH RIGHT OF WAY OF REYNOLDS STREET SOUTH
65 DEGREES 59 MINUTES 16 SECONDS EAST A DISTANCE OF 40.83 FEET TO THE
TRUE POINT OF BEGINNING AND CONTAINING 0.10 ACRES (4,382.38 SQUARE FEET)
LEGAL DESCRIPTION: 209 TELFAIR STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
" RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTA/ACSM LAND TITLE SURVEY DATED OCTOBER 14, 1998, PREPARED
BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M. HARDY, .
GEORGIA REGISTERED LAND SURVEYOR NO. 2662 AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT OF WAY INTERSECTION OF TELFAIR
STREET (R/W V ARIES) AND 2ND STREET (R/W V ARIES) AND CONTINUING WEST
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ALONG THE NORTH RIGHT OF WAY OF TELFAIR STREET 100 FEET :t TO A #5
REBAR FOUND, AND BEING THE TRUE POINT OF BEGINNING; THENCE TURNING
AND CONTINUING ALONG THE NORTH RIGHT OF WAY OF TELFAIR STREET
NORTH 67 DEGREES 38 MINUTES AND 50 SECONDS WEST A DISTANCE OF 36.00
FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE
LINE OF NfF BRANCH, NORTH 22 DEGREES 35 MINUTES 33 SECONDS EAST A
DISTANCE OF 176.31 FEET TO A 3/4 INCH CRIMPED TOP FOUND; THENCE TURNING
AND CONTINUING ALONG THE LINE OF NfF SACCO AND NfF MABEN, SOUTH 69
DEGREES 04 MINUTES 52 SECONDS EAST A DISTANCE OF 35.79 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF NfF
HARRIS AND NfF CONNELL SOUTH 22 DEGREES 31 MINUTES 09 SECONDS WEST A
DISTANCE OF 177.20 FEET TO THE TRUE POINT OF BEGINNING AND CONTAINING
0.15 ACRES (6,343.39 SQUARE FEET).
LEGAL DESCRIPTION: 228 TELFAIR STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTNACSM LAND TITLE SURVEY DATED OCTOBER 9,1998, PREPARED BY
W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M. HARDY, GEORGIA
REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING METES
AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY INTERSECTION OF 3RD STREET
(RJW V ARIES) AND TELFAIR STREET (R/W VARIES) AND CONTINUING EAST
ALONG THE SOUTH RIGHT OF WAY OF TELFAIR STREET 503.58 FEET :t TO A #5
REBAR FOUND, AND THE TRUE POINT OF BEGINNING; THENCE TURNING AND
CONTINUING ALONG THE SOUTH RIGHT OF WAY OF TELFAIR STREET SOUTH 67
DEGREES 37 MINUTES 26 SECONDS EAST A DISTANCE OF 33.29 FEET TO A #4
REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF NfF
MIRICK SOUTH 21 DEGREES 31 MINUTES 01 SECOND WEST A DISTANCE OF 169.85
FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE
LINE OF N/F.ROUNDTREE AND N/F YOUNG NORTH 68 DEGREES 51 MINUTES 26
SECONDS WEST A DISTANCE OF 32.34 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF 230 TELFAIR STREET NORTH 21
DEGREES 11 MINUTES 58 SECONDS EAST A DISTANCE OF 170.56 FEET TO THE
TRUE POINT OF BEGINNING AND CONTAINING 0.13 ACRES (5,584.46 SQUARE
FEET).
LEGAL DESCRIPTION: 230 TELFAIR STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTA/ACSM LAND TITLE SuRVEY DATED OCTOBER 9,1998, PREPARED BY
W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY, GEORGIA
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REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING METES
AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY INTERSECTION OF 3RD STREET
(RfW V ARIES) AND TELFAIR STREET (RJW V ARIES) AND CONTINUING EAST
ALONG THE SOUTH RIGHT OF WAY OF TELFAIR STREET 470.58 FEET:t TO A #4
REBAR SET, AND THE TRUE POINT OF BEGINNING; THENCE TURNING AND
CONTINUING ALONG THE SOUTH RIGHT OF WAY OF TELFAIR STREET SOUTH 67
DEGREES 37 MINUTES 26 SECONDS EAST A DISTANCE OF 33.00 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF 228
TELFAIR STREET SOUTH 21 DEGREES 11 MINUTES 58 SECONDS WEST A DISTANCE
OF 170.56 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING
ALONG THE LINE OF N/F YOUNG AND N/F WILLIAMS NORTH 67 DEGREES 07
MINUTES 00 SECONDS WEST A DISTANCE OF 32.64 FEET TO A #5 REBAR FOUND;
. THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F ALLEN NORTH 21
DEGREES 04 MINUTES 36 SECONDS EAST A DISTANCE OF 170.28 FEET TO THE
TRUE POINT OF BEGINNING AND CONTAINING 0,13 ACRES (5,591.39 SQUARE
FEET).
LEGAL DESCRIPTION: 224 BROAD STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTA/ACSM LAND TITLE SURVEY DATED OCTOBER 21, 1998, PREPARED
BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHWEST RIGHT OF WAY OF 2ND STREET (R/W VARIES)
AND BROAD STREET (R/W VARIES) AND CONTINUING WEST ALONG THE SOUTH
RIGHT OF WAY OF BROAD STREET 247.50 FEET :t TO A P.K. NAIL FOUND AND THE
TRUE POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE
LINE OF NfF ANDERSON SOUTH 23 DEGREES 38 MINUTES 12 SECONDS WEST A
DISTANCE OF 133.70 FEET TO A #4 REBAR SET; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NfF DOWNTOWN AUGUSTA NORTH 68
DEGREES 16 MINUTES 05 SECONDS WEST A DISTANCE OF 54,02 FEET TO A #4
REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F
MCGAHEE NORTH 23 DEGREES 37 MINUTES 14 SECONDS EAST A DISTANCE OF
134.76 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG
THE SOUTH RIGHT OF WAY OF BROAD STREET SOUTH 67 DEGREES 08 MINUTES 50
SECONDS EAST A DISTANCE OF 54,03 FEET TO THE TRUE POINT OF BEGINNING
AND CONTAINING 0.17 ACRES (7,249.35 SQUARE FEET),
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F:\Documents\PRC\white oak\LEGAL DESCRlPTIONS.COMBINE4.doc
LEGAL DESCRIPTION: 111 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY DATED OCTOBER 20, 1998, PREPARED
BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWESTRIGHT OF WAY OF FORSYTHE STREET (R/W
V ARIES) AND ELLIS STREET (R/W V ARIES) AND CONTINUING WEST ALONG THE
NORTH RIGHT OF WAY OF ELLIS STREET 49.00 FEET:!: TO A #5 REBAR FOUND AND
THE TRUE POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG
THE NORTH RIGHT OF WAY OF ELLIS STREET NORTH 66 DEGREES 00 MINUTES 00
SECONDS WEST A DISTANCE OF 48.52 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF N/F MCGOW ANS FLORIST
NORTH 25 DEGREES 01 MINUTE 43 SECONDS EAST A DISTANCE OF 90,91 FEET TO
A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF
N/F CONNELL SOUTH 66 DEGREES 04 MINUTES 54 SECONDS EAST A DISTANCE OF
47.51 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG
THE LINE OF N/F AGNEW SOUTH 24 DEGREES 23 MINUTES 20 SECONDS WEST A:
DIST ANCE OF 90.96 FEET TO THE TRUE POINT OF BEGINNING AND CONTAINING
0.10 ACRES (4,365.88 SQUARE FEET).
LEGAL DESCRIPTION: 409 WALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTA/ACSM LAND TITLE SURVEY DATED OCTOBER 9, 1998, PREPARED BY
W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M. HARDY, GEORGIA
REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING METES
AND BOUNDS TO WIT:
BEGiNNING AT THE NORTHEAST RIGHT OF WAY INTERSECTION OF WALKER
STREET (R/W VARIES) AND GORDON HIGHWAY (150 FEET R/W) AT A 1 INCH
CRIMPED TOP FOUND AND BEING THE TRUE POINT OF BEGINNING; THENCE
TURNING AND CONTINUING ALONG. THE EAST RIGHT OF WAY OF GORDON
HIGHW A Y NORTH 25 DEGREES 25 MINUTES 50 SECONDS EAST A DISTANCE OF
131.69 FEET TO A 5/8 INCH OPEN TOP FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF N/F REDDY SOUTH 63 DEGREES 21 MINUTES 37
SECONDS EAST A DISTANCE OF 36.67 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF N/F ZARGE SOUTH 23 DEGREES
04 MINUTES 36 SECONDS WEST A DISTANCE OF 130.65 FEET TO A #5 REBAR
FOUND; THENCE TURNING AND CONTINUING ALONG THE NORTH RIGHT OF WAY
OF WALKER STREET NORTH 65 DEGREES 04 MINUTES 36 SECONDS WEST A
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DIST ANCE OF 42.03 FEET TO THE TRUE POINT OF BEGINNING AND CONTAINING
0,12 ACRES (5,158.18 SQUARE FEET).
LEGAL DESCRIPTION: 101 & 1031ST STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTNACSM LAND TITLE SURVEY DATED OCTOBER 20,1998, PREPARED
BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M, HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHWEST RIGHT OF WAY INTERSECTION OF REYNOLDS
STREET (RIW VARIES) AND 1ST STREET (RfW VARIES) AT A #5 REBAR FOUND AND
THE TRUE POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG
THE WEST RIGHT OF WAY OF 1ST STREET SOUTH 24 DEGREES 01 MINUTE 17
SECONDS WEST A DISTANCE OF 65.12 FEET TO #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF N/F WASHINGTON NORTH 65 .
DEGREES 55 MINUTES 56 SECONDS WEST A DISTANCE OF 75.83 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F.
CARTER AND N/F ZARGE NORTH 23 DEGREES 51 MINUTES 02 SECONDS EAST A:
DISTANCE ,OF 65.03 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE SOUTH RIGHT OF WAY OF REYNOLDS STREET SOUTH
66 DEGREES 00 MINUTES 00 SECONDS EAST A DISTANCE OF 76,02 FEET TO THE
TRUE POINT OF BEGINNING AND CONTAINING 0.11 ACRES (4,940.70 SQUARE
FEET).
LEGAL DESCRIPTION: 237 TELFAIR STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTNACSM LAND TITLE SURVEY DATED OCTOBER 14,1998, PREPARED
BY W.R. TOOLE ENGINEERS, INC.AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HA VING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHEAST RIGHT OF WAY INTERSECTION OF 3RD STREET
(RIW V ARIES) AND TELFAIR STREET (RfW VARIES) AND CONTINUING EAST
ALONG THE NORTH RIGHT OF WAY OF TELFAIR STREET 344.68 FEET :t TO A #5
REBAR FOUND AND THE.TRUE POINT OF BEGINNING; THENCE TURNING AND
CONTINUING ALONG THE LINE OF N/F TRITT AND WALKER NORTH 22 DEGREES
45 MINUTES 57 SECONDS EAST A DISTANCE OF 174.91 FEET TO A #4 REBAR SET;
THENCE TURNING AND CONTINUING ALONG THE LINE OF DOWNTOWN
AUGUST A, INC. AND N/F BALK, SOUTH 67 DEGREES 09 MINUTES 44 SECONDS
EAST A DISTANCE OF 33.60 FEET TO A 3/4 INCH OPEN TOP FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF N/F BALK, SOUTH 22 DEGREES
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46 MINUTES 16 SECONDS WEST A DISTANCE OF 174.77 FEET TO A #4 REBAR SET;
THENCE TURNING AND CONTINUING ALONG THE NORTH RIGHT OF WAY OF
TELFAIR STREET NORTH 67 DEGREES 24 MINUTES 03 SECONDS WEST A DISTANCE
OF 33.59 FEET TO THE TRUE POINT OF BEGINNING AND CONTAINING 0.13 ACRES
(5,873.89 SQUARE FEET).
LEGAL DESCRIPTION: 134 & 136 WALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTA/ACSM LAND TITLE SURVEY DATED OCTOBER 21, 1998, PREPARED
BYW.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY OF 2ND STREET (RfW VARIES)
AND WALKER STREET (RfW VARIES) AND CONTINUING EAST ALONG THE SOUTH
RIGHT OF WAY OF WALKER STREET 124.50 FEET :t TO A #5 REBAR FOUND BEING
THE TRUE POINT OF BEGINNING, THENCE TURNING AND CONTINUING ALONG
THE SOUTH RIGHT OF WAY OF WALKER STREET SOUTH 66 DEGREES 33 MINUIES
32 SECONDS EAST A DISTANCE OF 42.97 FEET TO A #5 REBAR FOUND; THENCE:
TURNING AND CONTINUING ALONG THE LINE OF N/F BAUKNIGHT SOUTH 23
DEGREES 25 MINUTES 00 SECONDS WEST A DISTANCE OF 132.01 FEET TO A #5
REBAR FOUND; THENCE TURNING'AND CONTINUING ALONG THE LINE OF N/F
CIMANYD INC, N/F DAVIS, N/F JACKSON, NORTH 66 DEGREES 38 MINUTES 47
SECONDS WEST A DISTANCE OF 42.98 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF N/F BAILEY NORTH 23 DEGREES
25 MINUTES 28 SECONDS EAST A DISTANCE OF 132.07 FEET TO THE TRUE POINT
OF BEGINNING AND CONTAINING 0.13 ACRES (5,669.54 SQUARE FEET).
LEGAL DESCRIPTION: 259 GREENE STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTA/ACSM LAND TITLE SURVEY DATED OCTOBER 19, 1998, PREPARED
BY W,R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY,
. GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHEAST RIGHT OF WAY OF 3RD STREET (R/W V ARIES)
AND GREENE STREET (R/W V ARIES) AND CONTINUING EAST ALONG THE NORTH
RIGHT OF WAY OF GREENE STREET 52,28 FEET :t TO A SPIKE FOUND AND THE
TRUE POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE
LINE OF N/F GRABLOSKI NORTH 22 DEGREES 43 MINUTES 12 SECONDS EAST A
DIST ~CE OF 119.55 FEET TO A CORNER OF BRICK WALL; THENCE TURNING AND
CONTINUING ALONG THE LINE OF N/F BRYANT SOUTH 67 DEGREES 58 MINUTES
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07 SECONDS EAST A DISTANCE OF 30.85 FEET TO A CORNER OF WALL; THENCE
. TURNlNG AND CONTINUING ALONG THE LINE OF N/F BRYANT NORTH 26
DEGREES 06 MINUTES 58 SECONDS EAST A DISTANCE OF 14.85 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F
SULLIV AN SOUTH 66 DEGREES 58 MINUTES 57 SECONDS EAST A DISTANCE OF
16.43 FEET TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE
LINE OF N/F BUCKLEY SOUTH 23 DEGREES 30 MINUTES 09 SECONDS WEST A
DISTANCE OF 133,69 FEET TO A 1/2 INCH FLAT BAR; THENCE TURNING AND
CONTINUING ALONG THE NORTH RIGHT OF WAY OF GREENE STREET NORTH 68
DEGREES 30 MINUTES 00 SECONDS WEST A DISTANCE OF 46.34 FEET TO THE TRUE
POINT OF BEGINNING AND CONTAINING 0.13 ACRES (5,872.50 SQUARE FEET).
LEGAL DESCRIPTION: 256 GREENE STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "A" ON AN ALTAlACSM LAND TITLE SURVEY DATED OCTOBER 9, 1998,
PREP ARED BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY OF GREENE STREET (RJW
V ARIES) AND 3RD STREET (R/W VARIES) AND CONTINUING ALONG THE SOUTH
RIGHT OF WAY OF GREENE STREET 155.41 FEET:t TO A #4 REBAR SET AND THE
TRUE POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE
SOUTH RIGHT OF WAY OF GREENE STREET SOUTH 67 DEGREES 29 MINUTES 30
SECONDS EAST A DISTANCE OF 33.01 FEET TO A #4 REBAR SET; THENCE TURNING
AND CONTINUING ALONG THE LINE OFN/F BIGHOM SOUTH 23 DEGREES 41
MINUTES 16 SECONDS WEST A DISTANCE OF 173.27 FEET TO A #5 REBAR FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F THOMPKINS AND
N/F BEALE NORTH 66 DEGREES 13 MINUTES 55 SECONDS WEST A DISTANCE OF
32,99 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG
THE LINE OF 258 GREENE STREET NORTH 23 DEGREES 40 MINUTES 55 SECONDS
EAST A DISTANCE OF 172.54 FEET TO THE TRUE POINT OF BEGINNING AND
CONTAINING 0,13 ACRES (5,704,80SQUARE FEET),
LEGAL DESCRIPTION: 258 GREENE STREET
ALL THAT CERTAIN PIECE, P ARCELOR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "B" ON AN ALTAlACSM LAND TITLE SURVEY DATED OCTOBER 9,1998,
PREPARED BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
9 '
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BEGINNING AT THE SOUTHEAST RIGHT OF WAY OF GREENE STREET (RJW
V ARIES) AND 3RD STREET.(R/W VARIES) AND CONTINUING ALONG THE SOUTH
RIGHT-OF-WAY OF GREENE STREET 122.51 FEET:I: TO A #4 REBAR SET AND THE
TRUE POINT OF BEGINNING; THENCE CONTINUING ALONG THE SOUTH RIGHT OF
WAY OF GREENE STREET SOUTH 67 DEGREES 29 MINUTES 30 SECONDS EAST A
DISTANCE OF 32.90 FEET TO A #4 REBAR SET; THENCE TURNING AND
CONTINUING ALONG THE LINE OF 256 GREENE STREET SOUTH 23 DEGREES 40
MINUTES 55 SECONDS WEST A DISTANCE OF 172.54 FEET TO A #5 REBAR FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F BEALE AND NIF
BARTON INVESTMENT CO. INC. NORTH 66 DEGREES 13 MINUTES 55 SECONDS
WEST A DISTANCE OF 32.96 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF 260 GREENE STREET NORTH 23 DEGREES 42
MINUTES 20 SECONDS EAST A DISTANCE OF 171.82 FEET TO THE TRUE POINT OF
BEGINNING AND CONTAINING 0.13 ACRES (5,669.67 SQUARE FEET).
LEGAL DESCRIPTION: 260 GREENE STREET
ALL THAT CERTAIN PIECE, PARCEL ORLOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS. TRACT "C" ON AN ALTAJACSMLAND TITLE SURVEY DATED OCTOBER 9, 19~8,
PREPARED BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. .
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY INTERSECTION OF 3RD STREET
(R/W VARIES) AND GREENE STREET (R/W VARIES) AND CONTINUING EAST
ALONG THE SOUTHERN RIGHT OF WAY OF GREENE STREET 89.5 FEET :t TO A #4
REBAR SET AND THE TRUE POINT _OF BEGINNING; THENCE TURNING AND .
CONTINUING ALONG THE SOUTH RIGHT OF WAY GREENE STREET SOUTH 67
DEGREES 29 MINUTES 30 SECONDS EAST A DISTANCE OF 33.01 FEET TO A #4
REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF 258
GREENE STREET SOUTH 23 DEGREES 42 MINUTES 20 SECONDS WEST A DISTANCE
OF 171,82 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING
ALONG THE LINE OF BARTON INVESTMENT CO INC. NORTH 66 DEGREES 13
MINUTES 55 SECONDS WEST A DISTANCE OF 32.98 FEET TO A 5/8 INCH CRIMPED
TOP FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF AUGUSTA
MINISTERS UNION, NIP ROBERTS AND NIP. GRADY NORTH 23 DEGREES 41
MINUTES 58 SECONDS EAST A DISTANCE OF 171.10 FEET TO THE TRUE POINT OF
BEGINNING AND CONTAINING 0.13 ACRES (5,657.19 SQUARE FEET).
LEGAL DESCRIPTION: 608 & 610 THIRD STREET & 264 WALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "D" ON AN ALTAJACSM LAND TITLE SURVEY DATED NOVEMBER 13,
10
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EAST A DISTANCE OF 134.84 FEET TO THE TRUE POINT OF BEGINNING AND
CONTAlNING 0.14 ACRES (6,238.11 SQUARE FEET).
LEGAL DESCRIPTION: 260 WALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "B" ON AN ALTAJACSM LAND TITLE SURVEY FOR DATED NOVEMBER
13, 1998, PREPARED BY W.R. TOOLE'ENGINEERS, INe. AND CERTIFIED BY STEVEN
- ..
M, HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY OF THIRD STREET (RfW V ARIES)
AND WALKER STREET (R/W VARIES) AND CONTINUING EAST ALONG THE SOUTH
RIGHT OF WAY OF WALKER STREET 54.39 FEET TO A #4 REBAR SET; THENCE
TURNING AND CONTINUING SOUTH 21 DEGREES 44 MINUTES 19 SECONDS WEST A
DISTANCE OF 1.90 FEET TO A #4 REBAR SET; THENCE CONTINUING EAST ALONG
THE SOUTH RIGHT OF WAY OF WALKER STREET 46.18 FEET TO A #4 REBAR SET
AND THE TRUE POINT OF BEGINNING; THENCE TURNING AND CONTINUING
ALONG THE SOUTH RIGHT OF WAY OF WALKER ~TREET SOUTH 66 DEGREES 37
MINUTES 45 SECONDS EAST A DISTANCE OF 44.22 FEET TO A #4 REBAR SET; :
THENCE TURNING AND CONTINUING ALONG THE L INE OF 256 WALKER STREET
SOUTH 23 DEGREES 41 MINUTES 36 SECONDS WEST A DISTANCE OF 134.99 FEET
TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF
N/F WARREN NORTH 66 DEGREES 21 MINUTES 58 SECONDS WEST A DISTANCE OF
12.84 FEET TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE
LINE OF 614 THIRD STREET NORTH 66 DEGREES 26 MINUTES 22 SECONDS WEST A
DISTANCE OF 31.36 FEET TO A #4 REBAR SET; THENCE TURNING AND
CONTINUING ALONG THE LINE OF 262 WALKER ST~ET NORTH 23 DEGREES 41
MINUTES 06 SECONDS EAST A DISTANCE OF 134.83 FEET TO THE TRUE POINT OF
BEGINNING AND CONTAlNING 0.14 ACRES (5,964.14 SQUARE FEET).
LEGAL DESCRIPTION: 256 WALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND L YINGAND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "A" ON AN ALTAJACSM LAND TITLE SURVEY DATED NOVEMBER 13,
1998, PREPARED BY W,R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY OF THIRD STREET (RJW V ARIES)
AND WALKER STREET (RfW V ARIES) AND CONTINUING EAST ALONG THE SOUTH
RIGHT OF WAY OF WALKER STREET 54,39 FEET TO A #4 REBAR SET; THENCE
TURNING AND CONTINUING SOUTH 21 DEGREES 44 MINUTES 19 SECONDS WEST A
DISTANCE OF 1.90 FEET TO A #4 REBAR SET; THENCE CONTINUING EAST ALONG
12
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THE SOUTH RIGHT OF WAY OF WALKER STREET 90.40 FEET TO A #4 REBAR SET
AND THE TRUE POINT OF BEGINNING, THENCE TURNING AND CONTINUING
ALONG THE SOUTH RIGHT OF WAY OF WALKER STREET SOUTH 66 DEGREES 37
MINUTES 20 SECONDS EAST A DISTANCE OF 29.70 FEET TO A #5 REBAR FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF NIF HOLLAND SOUTH
23 DEGREES 41 MINUTES 35 SECONDS WEST A DISTANCE OF 135.12 FEET TO A #4
REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F
WARREN NORTH 66 DEGREES 21 MINUTES 57 SECONDS WEST A DISTANCE OF
29.70 FEET TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE
LINE OF 260 WALKER STREET NORTH 23 DEGREES 41 MINUTES 36 SECONDS EAST
A DISTANCE OF 134.99 FEET TO THE TRUE POINT OF BEGINNING AND
CONTAINING 0.09 ACRES (4,012.24 SQUARE FEET)
LEGAL DESCRIPTION: 614 THIRD STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "E" ON AN ALTA/ACSM LAND TITLE SURVEY DATED NOVEMBER 13,
1998, PREPARED BY W.R. TOOLE.ENGINEERS, INC. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY OF THIRD STREET (RIW V ARIES)
AND WALKER STREET (RIW V ARIES) AND CONTINUING SOUTH ALONG THE EAST
RIGHT OF WAY OF THIRD STREET 136.60 FEET TO A #4 REBAR SET; THENCE
TURNING AND CONTINUING SOUTH 66 DEGREES 26 MINUTES 02 SECONDS EAST A
. DISTANCE OF 1.93 FEET TO A #4 REBAR SET AND THE TRUE POINT OF BEGINNING;
THENCE TURNING AND CONTINUING ALONG THE LINE OF 608 AND 610 THIRD
STREET AND 264 WALKER STREET SOUTH 66 DEGREES 26 MINUTES 02 SECONDS
EAST A DISTANCE OF 52.56 FEET TO A #4 REBAR SET; THENCE TURNING AND
CONTINUING ALONG THE LINE OF 262 WALKER STREET SOUTH 66 DEGREES 26
MINUTES 23 SECONDS EAST A DISTANCE OF 46,35 FEET TO A #4 REBAR SET;
THENCE TURNING AND CONTINUING ALONG THE LINE OF 260 WALKER STREET
SOUTH 66 DEGREES 26 MINUTES 22 SECONDS EAST A DISTANCE OF 31.36 FEET TO
A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F
WARREN SOUTH 24 DEGREES 01 MINUTE 25 SECONDS WEST A DISTANCE OF 40.08
FEET TO A#4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE
OF N/F PERDUE NORTH 66 DEGREES 24 MINUTES 09 SECONDS WEST A DISTANCE
OF 130.06 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING
ALONG THE EAST RIGHT OF WAY OF THIRD STREET NORTH 23 DEGREES 43
MINUTES 55 SECONDS EAST A DISTANCE OF 40.00 FEET TO THE TRUE POINT OF
BEGINNING AND CONTAINING 0.12-ACRES (5,211.34 SQUARE FEET).
13
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LEGAL DESCRIPTION: 209 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "D" ON AN ALTNACSM LAND TITLE SURVEY DATED NOVEMBER 5,
1998, PREPARED BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M,
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINN1NG AT THE NORTHWEST RIGHT OF WAY OF 2ND STREET (RJW VARIES)
AND ELLIS STREET (R/W V ARIES) AND CONTINUING WEST ALONG ELLIS STREET
99 FEET :t TO A 3/4 INCH CRIMPED TOP FOUND AND THE TRUE POINT OF
BEGINN1NG; THENCE TURNING AND CONTINUING ALONG THE NORTH RIGHT OF
WAY OF ELLIS STREET NORTH 66 DEGREES 00 MINUTES 00 SECONDS WEST A
DISTANCE OF 50.03 FEET TO A #5 REBAR FOUND; THENCE TURNING AND .
CONTINUING ALONG THE LINE OF 211 AND 213 ELLIS STREET NORTH 24 DEGREES
25 MINUTES 36 SECONDS EAST A DISTANCE OF 118.99 FEET TO A #5 REBAR
FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE NIP ANTHONY
AND NIP HERRINGTON SOUTH 65 DEGREES 58 MINUTES 26 SECONDS EAST A
DISTANCE OF 49.97 FEET TO A #5 REBAR FOUND; THENCE TURNING AND _.
CONTINUING ALONG THE LINE OF NIP AGOST AS SOUTH 24 DEGREES 23 MINUTES
45 SECONDS WEST A DISTANCE OF 118.97 FEET TO THE TRUE POINT OF
BEGINN1NG AND CONTAINING 0.14 ACRES (5,948.87 SQUARE FEET).
LEGAL DESCRIPTION 211 & 213 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "C" ON AN ALTA/ACSM LAND TITLE SURVEY DATED NOVEMBER 5,
1998, PREPARED BY W.R. TOOLE ENGINEERS, INC. AND CERTifIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO, 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINN1NG AT THE NORTHWEST RIGHT OF WAY OF 2ND STREET (RJW V ARIES)
AND ELLIS STREET (RJW VARIES) AND CONTINUING WEST ALONG ELLIS STREET
149.03 FEET:t TO A #5 REBAR FOUND AND THE TRUE POINT OF BEGINN1NG;
THENCE TURNING AND CONTINUING ALONG THE NORTH RIGHT OF WAY OF
ELLIS STREET NORTH 65 DEGREES 58 MINUTES 22 SECONDS WEST A DISTANCE OF
53,55 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG
THE LINE OF 215 ELLIS STREET NORTH 24 DEGRES 27 MINUTES 11 SECONDS EAST
A DISTANCE OF 119.22 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIP SPRADLEY AND NIP ANTHONY SOUTH 65
DEGREES 43 MINUTES 26 SECONDS EAST A DISTANCE OF 53.50 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF 209
ELLIS STREET SOUTH 24 DEGREES 25 MINUTES 36 SECONDS WEST A DISTANCE OF
14
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118.99 FEET TO THE TRUE POINT OF BEGINNING AND CONTAINING 0.15 ACRES
(6,375.26 SQUARE FEET),
LEGAL DESCRIPTION: 215 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "B" ON AN ALTA/ACSMLAND TITLE SURVEY DATED NOVEMBER 5,
1998, PREPARED BY W,R TOOLE ENG~ERS, INC. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT OF WAY OF 2ND STREET (RJW V ARIES)
AND ELLIS STREET (RJW VARIES) AND CONTINUING WEST 202.58 FEET :t TO A #5
REBAR FOUND AND THE TRUE POINT OF BEG~G; THENCE TURNING AND
CONTINUING ALONG THE NORTH RIGHT OF WAY OF ELLIS STREET NORTH 65
DEGREES 57 MINUTES 17 SECONDS WEST A DISTANCE OF 50.11 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF 219__
AND 221 ELLIS STREET NORTH 24 DEGREES 45 MINUTES 08 SECONDS EAST A :
DISTANCE OF 134.87 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIF lC. ANDERSON, JR., SOUTH 66 DEGREES 15
MINUTES 51 SECONDS EAST A DISTANCE OF 49.12 FEET TO A#5 REBAR FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF NIF SPRADLEY SOUTH
23 DEGREES 23 MINUTES 39 SECONDS WEST A DISTANCE OF 15.91 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF 211
AND 213 ELLIS STREET SOUTH 24 DEGREES 27 MINUTES 11 SECONDS WEST A
DISTANCE OF 119.22 FEET TO THE TRUE POINT OF BEGINNING AND CONTAINING
0,15 ACRES (6,714.64 SQUARE FEET).
LEGAL DESCRIPTION: 219 & 221 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "A" ON AN ALTA/ACSM LAND TITLE SURVEY DATED NOVEMBER 5,
1998, PREPARED BY W.R TOOLE ENGINEERS, INC, AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWESTRlGHT OF WAY OF 2ND STREET (RJW V ARIES)
AND ELLIS STREET (R/W VARIES) AND CONTINUING WEST 252,69 FEET :t TO A #5
REBAR FOUND AND THE TRUE POINT OF BEGINNING; THENCE TURNING AND
CONTINUING ALONG THE NORTH RIGHT OF WAY OF ELLIS STREET NORTH 65
DEGREES 59 MINUTES 23 SECONDS WEST A DISTANCE OF 62.76 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF NIF
15
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DOWNTOWN AUGUSTA, INC. NORTH 24 DEGREES 39 MINUTES 54 SECONDS EAST
A DISTANCE OF 133.26 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIP MCGAHEE AND NIP DOWNTOWN
AUGUSTA, INC. SOUTH 67 DEGREES 27 MINUTES 09 SECONDS EAST A DISTANCE
OF 63.00 FEET TO A #5 REBAR F'OUND; THENCE TURNING AND CONTINUING
ALONG THE LINE OF 215 ELLIS STREET SOUTH 24 DEGREES 45 MINUTES 08
SECONDS WEST A DISTANCE OF 134,87 FEET TO THE TRUE POINT OF BEGINNING
AND CONTAINING 0.19 ACRES (8,426,94 SQUARE FEET).
LEGAL DESCRIPTION: 319 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY DATED NOVEMBER 9, 1998, PREPARED
BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT OF WAY OF 3RD STREET (R/W VARIES)
AND ELLIS STREET (RIW VARIES) AND CONTINUING WEST 287.99 FEET:t TO A 1/2
INCH OPEN TOP FOUND AND THE TRUE POINT OF BEGINNING; THENCE TURNING
AND CONTINUING ALONG THE NORTH RIGHT OF WAY OF ELLIS STREET NORTH
66 DEGREES 07 MINUTES 03 SECONDS WEST A DISTANCE OF 40.82 FEET TO A P,K,
NAIL FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF 321 ELLIS
STREET NORTH 25 DEGREES 02 MINUTES 39 SECONDS EAST A DISTANCE OF 132.25
FEET TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE
OF NIP OLDE TOWN PROPERTIES SOUTH 66 DEGREES 15 MINUTES 48 SECONDS
EAST A DISTANCE OF 32.17 FEET TO A #4 REBAR SET; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIP UPTON SOUTH 62 DEGREES 02 MINUTES 56
SECONDS EAST A DISTANCE OF 8.55 FEET TO A #4 REBAR FOUND SET; THENCE
TURNING AND CONTINUING ALONG THE LINE OF NIP HUDSON SOUTH 24
DEGREES 59 MINUTES 42 SECONDS WEST A DISTANCE OF 131,72 FEET TO THE
TRUE POINT OF BEGINNING AND CONTAINING 0,12 ACRES (5,389.41 SQUARE
FEET).
LEGAL DESCRIPTION: 323 AND 3231/2 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY DATED NOVEMBER 9,1998, PREPARED
BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT OF WAY OF 3RD STREET (RlWVARIES)
AND ELLIS STREET (R/W VARIES) AND CONTINUING WEST 364.79 FEET:t TO A 3/4
16
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INCH CRIMPED TOP FOUND AND THE POINT OF BEGINNING; THENCE TURNING
AND CONTINUING ALONG THE NORTH RIGHT OF WAY OF ELLIS STREET NORTH
65 DEGREES 58 MINUTES 54 SECONDS WEST A DISTANCE OF 36.00 FEET TO A #4
REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF 325 AND
327 ELLIS STREET NORTH 25 DEGREES 08 MINUTES 36 SECONDS EAST A DISTANCE
OF 112.89 FEET TO A 3/4 INCH CRIMPED TOP FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIP CROSS NORTH 24 DEGREES 09 MINUTES 17
SECONDS EAST A DISTANCE OF 19.28 FEET TO A 3/4 INCH CRIMPED TOP FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP DEVANEY SOUTH
66 DEGREES 32 MINUTES 11 SECONDS EAST A DISTANCE OF 36.02 FEET TO A 3/4
INCH CRIMPED TOP FOUND; THENCE TURNING AND CONTINUING ALONG THE
LINE OF 321 ELLIS STREET SOUTH 25 DEGREES 00 MINUTES 12 SECONDS WEST A
DISTANCE OF 132.51 FEET TO THE TRUE POINT OF BEGINNING AND CONTAINING
0,11 ACRES (4,745.59 SQUARE FEET).
LEGAL DESCRIPTION: 325 & 327 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAJACSM LAND TITLE SURVEY DATED NOVEMBER 9,1998, PREPAREP
BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO, 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT OFW A Y OF 3RD STREET (RIW VARIES)
AND ELLIS STREET (RIW VARIES) AND CONTINUING WEST 400,79 FEET :t TO A #4
REBAR SET AND THE TRUE POINT OF BEGINNING; THENCE TURNING AND
CONTINUING ALONG THE NORTH RIGHT OF WAY OF ELLIS STREET NORTH 65
..DEGREES 58 MINUTES 54 SECONDS WEST A DISTANCE OF 47.00 FEET TO A #4
REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP
CALDWELL NORTH 24 DEGREES 00 MINUTES 08 SECONDS EAST A DISTANCE OF
112.97 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG
THE LINE OF NIP CROSS SOUTH 65 DEGREES 51 MINUTES 58 SECONDS EAST A
DISTANCE OF 49.25 FEET TOA 3/4 INCH CRIMPED TOP FOUND; THENCE TURNING.
AND CONTINUING ALONG THE LINE OF 323 AND 323 1/2 ELLIS STREET SOUTH 25
DEGREES 08 MINUTES 36 SECONDS WEST ADISTANCE OF 112.89 FEET TO THE
TRUE POINT OF BEGINNING AND CONTAINING 0.12 ACRES (5,434.13 SQUARE
FEET).
LEGAL DESCRIPTION: 229 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAJACSM LAND TITLE SURVEY DATED OCTOBER 28, 1998, PREPARED
BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY,
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GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HA VING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT OF WAY OF 2ND STREET [R!WV ARIES)
AND ELLIS STREET [R!W V ARIES) AND CONTINUlNG WEST ALONG THE NORTH
RIGHT OF WAY OF ELLIS STREET 482.85 FEET::!: TO A #5 REBAR FOUND AND THE
TRUE POINT OF BEGINNING; THENC~ TURNING AND CONTINUlNG ALONG THE
NORTH RIGHT OF WAY OF ELLIS STREET NORTH 66 DEGREES 04 MINUTES 37
SECONDS WEST A DISTANCE OF 39.47 FEET TO A 1 INCH CRIMPED TOP FOUND;
THENCE TURNING AND CONTINUlNG ALONG THE LINE OF DOWNTOWN
AUGUSTA, INC. NORTH 24 DEGREES 12 MINUTES 56 SECONDS EAST A DISTANCE
OF 101.67 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING
ALONG THE LINE OF DOWNTOWN AUGUST A, INC. SOUTH 64 DEGREES 35
MINUTES 12 SECONDS EAST A DISTANCE OF 40,87 FEET TO A #5 REBAR FOUND;
THENCE TURNING AND CONTINUlNG ALONG THE LINE OF N/F BIRD SOUTH 25
DEGREES 00 MINUTES 25 SECONDS 'WEST A DISTANCE OF 100.63 FEET TO THE
TRUE POINT,OF BEGINNING AND CONTAINING 0.09 ACRES (4,062.79 SQUARE
FEET).
LEGAL DESCRIPTION: 104-106 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTA/ACSM LAND TITLE SURVEY DATED NOVEMBER 4, 1998, PREPARED
BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY,'
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT: .
BEGINNING AT THE SOUTHWEST RIGHT OF WAY OF 1 ST STREET [R!W VARIES)
AND ELLIS STREET [R!W V ARIES) BEING THE TRUE POINT OF BEGINNING AND
CONTINUING ALONG THE WEST RIGHT OF WAY OF 1 ST STREET SOUTH 24
DEGREES 44 MINUTES 10 SECONDS WEST A DISTANCE OF 138.67 FEET TO A #5
REBAR SET; THENCE TURNING AND CONTINUlNG ALONG THE LINE OF N/F DAVIS
. -
AND N/F CARMAIN NORTH ,65 DEGREES 35 MINUTES 29 SECONDS WEST A
DISTANCE OF 84.95 FEET TO A 3/4 INCH CRIMPED TOP FOUND; THENCE TURNING
AND CONTINUING ALONG THE LINE OF N/F TINLEY AND N/F NEWSOME NORTH 24
DEGREES 43 MINUTES 14 SECONDS EAST A DISTANCE OF 138.06 FEET TO A 3/4
INCH CRIMPED TOP FOUND; THENCE TURNING AND CONTINUlNG ALONG THE
SOUTH RIGHT OF WAY OF ELLIS STREET SOUTH 66 DEGREES 00 MINUTES 00
SECONDS EAST A DISTANCE OF 84,99 FEET TO THE TRUE POINT OF BEGINNING
AND CONTAINING 0.27 ACRES (11,756.37 SQUARE FEET).
LEGAL DESCRIPTION: 222 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
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1998, PREPARED BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY OF THIRD STREET (R/W V ARIES)
AND WALKER STREET (R/W V ARIES) AT A #4 REBAR SET AND THE TRUE POINT OF
BEGINNING; THENCE TURNING AND CONTINUING EAST ALONG THE SOUTH
RIGHT OF WAY OF WALKER STREET SOUTH 66 DEGREES 34 MINUTES 40 SECONDS
EAST A DISTANCE OF 54.39 FEET TO A #4 REBAR SET; THENCE SOUTH 21 DEGREES
44 MINUTES 19 SECONDS WEST A DISTANCE OF 1.90 FEET TO A # 5 REBAR FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF 262 WALKER STREET
SOUTH 23 DEGREES 45 MINUTES 24 SECONDS WEST A DISTANCE OF 134.84 FEET
TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF
614 THIRD STREET NORTH 66 DEGREES 26 MINUTES 02 SECONDS WEST A
DISTANCE OF 52.56 FEET TO A #4 REBAR SET; THENCE TURNING AND
CONTINUING NORTH 66 DEGREES 26 MINUTES 02 SECONDS WEST A DISTANCE OF
1.93 FEET TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE
RIGHT OF WAY OF THIRD STREET NORTH 23 DEGREES 46 MINUTES 10 SECONDS
EAST A DISTANCE OF 136.60 FEET TO THE TRUE POINT OF BEGINNING AND
CONTAINING 0.17 ACRES (7,444.87 SQUARE FEET).
LEGAL DESCRIPTION: 262 WALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "C" ON AN ALTA/ACSM LAND TITLE SURVEY DATED NOVEMBER 13,
1998, PREPARED BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M,
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND ~OUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY OF THIRD STREET (RJW V ARIES)
AND WALKER STREET (RJW VARIES) AND CONTINUING EAST ALONG THE SOUTH
RIGHT OF WAY OF WALKER STREET 54.39 FEET TO A #4 REBAR SET; THENCE
TURNING AND CONTINUING SOUTH 21 DEGREES 44 MINUTES 19 SECONDS WEST A
DISTANCE OF 1.90 FEET TO A #4 REBAR SET AND THE TRUE POINT OF BEGINNING;
THENCE TURNING AND CONTINUING ALONG THE SOUTH RIGHT OF WAY OF
WALKER STREET SOUTH 66 DEGREES 25 MINUTES 22 SECONDS EAST A DISTANCE
OF 46.18 FEET TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG
THE LINE OF 260 WALKER STREET SOUTH 23 DEGREES 41 MINUTES 06 SECONDS
WEST A DISTANCE OF 134.83 FEET TO A #4 REBAR SET; THENCE TURNING AND
CONTINUING ALONG THE LINE OF 614 THIRD STREET NORTH 66 DEGREES 26
MINUTES 23 SECONDS WEST A DISTANCE OF 46.35 FEET TO A #4 REBAR SET;
THENCE TURNING AND CONTINUING ALONG THE LINE OF 608 AND 610 THIRD
STREET & 264 WALKER STREET NORTH 23 DEGREES 45 MINUTES 24 SECONDS
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OF 40 FEET, MORE OR LESS, AND EXTENDING BACK IN A SOUTHERLY DIRECTION
OF EVEN WIDTH A DISTANCE OF 132 FEET, MORE OR LESS, AND BEING BOUNDED:
ON THE NORTH, BY WALKER STREET; ON THE EAST, BY LOT NOW OR FORMERLY
OF MARY W. TERRILL; ON THE SOUTH, BY PROPERTY NOW OR FORMERLY OF H,S.
JONES; AND ON THE WEST, BY PROPERTY NOW OR FORMERLY OF EARL A.
ROOKS. SAID LOT BEING FORMERLY DESIGNATED AS LOT NO.8, BLOCK 4, WARD
1 ON THE PLAT BOOK OF THE CITY COUNCIL OF AUGUSTA, BUT IS NOW
DESIGNATED AS LOT NO.8, BLOCK 41, BLOCK A OF THE PRESENT CITY COUNCIL
OF AUGUSTA PLAT BOOK, AND BEING A PORTION OF THE PROPERTY CONVEYED
TO MRS. THELMA STEPHENS CORMAN, NK/A MRS, THELMA STEPHENS KORMAN
BY VIRTUE OF A YEAR'S SUPPORT FROM THE ESTATE OF ALEX CORMAN NK/A
ALEX KORMAN.
A MORE RECENT PLAT PREPARED BY TOOLE SURVEYING COMPANY FOR OLDE
TOWN PROPERTIES I, DATED MARCH 20, 1989 IS RECORDED IN THE OFFICE OF THE
CLERK OF SUPERIOR COURT OF RICHMOND COUNTY, GEORGIA, IN REALTY REEL
307, PAGE 714.
SAID PROPERTY IS KNOWN AND DESIGNATED AS 236-238 WALKER STREET
ACCORDING TO THE SYSTEM OF STREET NUMBERING CURRENTLY IN USE IN
AUGUST A, RICHMOND COUNTY, GEORGIA.
LEGAL DESCRIPTION: 212 ELLIS STREET
ALL THAT LOT OR PARCEL OF LAND, WITH IMPROVEMENTS THEREON, SITUATE,
LYING AND BEING IN THE CITY OF AUGUST A, RICHMOND COUNTY, GEORGIA,
BEGINNING AT A POINT ON THE SOUTH SIDE OF ELLIS STREET, WHICH POINT IS
150 FEET FROM THE INTERSECTION OF THE RIGHTS OF WAY OF SECOND STREET
AND ELLIS STREET AT THE SOUTHWESTERNMOST POINT OF INTERSECTION;
THENCE TURNING SOUTH 25 DEGREES 1 MINUTE WEST AND RUNNING A
DISTANCE OF 135,25 FEET TO AN IRON PIPE; THENCE, TURNING NORTH 65
DEGREES 30 MINUTES WEST AND RUNNING A DISTANCE OF 48.7 FEET; THENCE,
TURNING NORTH 24 DEGREES 30 MINUTES EAST AND RUNNING A DISTANCE OF
24 FEET; THENCE TURNING SOUTH 65 DEGREES 30 MINUTES EAST AND RUNNING
A DISTANCE OF 3 FEET; THENCE, TURNING NORTH 24 DEGREES 30 MINUTES EAST
AND RUNNING A DISTANCE OF 111.25 FEET TO A NAIL AND CAP IN THE
CONCRETE ON THE SOUTH SIDE OF ELLIS STREET; THENCE TURNING SOUTH 65
DEGREES 30 MINUTES EAST AND RUNNING A DISTANCE OF 47 FEET ALONG THE
SOUTH SIDE OF ELLIS STREET TO THE POINT OF BEGINNING.
SAID PROPERTY IS DELINEATED ON A CERTAIN PLAT OF THE SAME PREPARED
BY BOBBY G. PRICE, REGISTERED LAND SURVEYOR, A COpy OF WHICH IS
ATTACHED TO AND INCORPORATED IN AN EXECUTOR'S DEED CONVEYING SAID
PROPERTY TO DOWNTOWN AUGUSTA, INC. DATED SEPTEMBER 15, 1977 AND
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RECORDED IN THE OFFICE OF TH;E CLERK OF SUPERIOR COURT OF RICHMOND
COUNTY, GEORGIA, IN REALTY REEL 82, PAGES 459-461.
SAID PROPERTY IS THE SAME PROPERTY WHICH WAS CONVEYED TO GORDON W.
CHAMBERS BY WARRANTY DEED FROM JULIA R. COHEN DATED AUGUST 28, 1993
AND RECORDED IN REALTY BOOK 12Q, PAGE 228, IN THE CLERK'S OFFICE.
LEGAL DESCRIPTION 214 - 216 ELLIS STREET
ALL THAT LOT OR PARCEL OF LAND WITH IMPROVEMENTS THEREON, SITUATE.
LYING AND BEING IN THE CITY OF AUGUSTA, RICHMOND COUNTY, GEORGIA,
FRONTING 50 FEET MORE OR LESS ON THE SOUTH SIDE OF ELLIS STREET
BETWEEN HOUSTON (SECOND) AND LINCOLN (THIRD) STREETS, AND EXTENDING
BACK OF EVEN WIDTH 110 FEET, MORE OR LESS, AND BEING BOUNDED: ON THE
NORTH BY ELLIS STREET, ON THE EAST BY LOT NOW OR FORMERLY OF
CHAMBERS ON THE SOUTH BY LOT NOW OR FORMERLY OF MCCARRELL AND ON
THE WEST BY LOT NOW OR FORMERLY OF HOWARD ESTATE.
ALSO ALL THAT LOT OR PARCEL OF LAND WITH IMPROVEMENTS THEREON _
SITUATE, LYING AND BEING IN THE CITY OF AUGUSTA, RICHMOND COUNTY, :
GEORGIA, FRONTING 3 FEET ON THE SOUTH SIDE OF ELLIS STREET BETWEEN
HOUSTON (SECOND) AND LINCOLN (THIRD) STREETS AND EXTENDING BACK OF
EQUAL WIDTH 126 FEET AND BEING BOUNDED: ON THE NORTH BY ELLIS STREET,
ON THE EAST BY LOT NOW OR FORMERLY OF JULIA R. COHEN FROM WHICH THIS
STRIP WAS TAKEN ON THE SOUTH BY LOT NOW OR FORMERLY OF JULIA R.
COHEN AND ON THE WEST BY LOT NOT OR FORMERLY OF MATTIE M. SATCHER.
SAID PROPERTY IS KNOWN AND DESIGNATED AS 214-216 ELLIS STREET
ACCORDING TO THE SYSTEM OF STREET NUMBERING CURRENTLY IN USE IN
AUGUSTA, RICHMOND COUNTY, GEORGIA.
PROPERTY HEREINABOVE DESCRIBED AS 212 ELLIS STREET AND 214-216 ELLIS
STREET BEING THE SAME PROPERTY AS MORE P ARTICULARL Y DESCRIBED ON
THAT CERTAIN ALTAlACSM LAND TITLE SURVEY DATED NOVEMBER 12, 1998,
PREPARED BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO, 2662 AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHWEST RIGHT OF WAY OF 2ND STREET (RIW V ARIES)
AND ELLIS STREET (RIW VARIES) AND CONTINUING WEST A DISTANCE OF 151.0
FEET :t TO A #5 REBAR FOUND AND THE TRUE POINT OF BEGINNING; THENCE
TURNING AND CONTINUING ALONG THE LINE OF NIP BROWN SOUTH 25 DEGREES
07 MINUTES 02 SECONDS WESTA DISTANCE OF 135.25 FEET TO Al 1/2 INCH OPEN
TOP FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP
PHILLIPS NORTH 65 DEGREES 26 MINUTES 31 SECONDS WEST A DISTANCE OF
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48.70 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG
THE LINE OF NIP SWEAT NORTH 24 DEGREES 19 MINUTES 50 SECONDS EAST A
DISTANCE OF 23.94 FEET TO A #4 REBAR SET; THENCE CONTINUING ALONG THE
LINE OF NIP SWEAT NORTH 64 DEGREES 24 MINUTES 49 SECONDS WEST A
DISTANCE OF 49.31 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIP WALTON NORTH 23 DEGREES 53 MINUTES
54 SECONDS EAST A DISTANCE OF 109.38 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING .ALONG THE SOUTHERN RIGHT-OF- WAY OF ELLIS
STREET SOUTH 66 DEGREES 02 MINUTES 11 SECONDS EAST A DISTANCE OF 100.67
FEET TO A #5 REBAR FOUND AND THE TRUE POINT OF BEGINNING AND
CONTAINING 0.28 ACRES (12,170.34 SQUARE FEET)
LEGAL DESCRIPTION 211 & 213 BROAD STREET
ALL THAT LOT OR PARCEL OF LAND, WITH IMPROVEMENTS THEREON, SITUATE,
LYING AND BEING IN THE CITY OF. AUGUSTA, RICHMOND COUNTY, GEORGIA,
FRONTING 42 FEET, MORE OR LESS, ON THE NORTH SIDE OF BROAD STREET, AND
EXTENDING BACK BETWEEN PARALLEL LINES A DISTANCE OF 134 FEET, MORE
OR LESS, AND BEING DESIGNATED AS EXHIBIT "B" ON A PLAT ATTACHED TO AN
AWARD OF YEAR'S SUPPORT MADE TO MARY ALICE WISE FROM THE ESTATE OF
J. THOMAS WISE, APPEARING OF RECORD IN YEAR'S SUPPORT BOOK 2-J, PAGE 46,
IN THE OFFICE OF THE CLERK OF SUPERIOR COURT OF RICHMOND COUNTY,
GEORGIA, AND BEING BOUNDED: ON THE NORTH, BY PROPERTY NOW OR
FORMERLY OF T.F. BROADWATER; ON THE EAST, BY PROPERTY NOW OR
FORMERLY OF F.H. CASEY; ON THE SOUTH BY BROAD STREET; AND THE WEST,
BY PROPERTY NOW OR FORMERLY OF B.F. DAVIS.
SAID PROPERTY IS KNOWN AND DESIGNATED AT 211-213 BROAD STREET
ACCORDING TO THE SYSTEM OF STREET NUMBERING CURRENTLY IN USE IN
AUGUSTA, RICHMOND COUNTY, GEORGIA.
LEGAL DESCRIPTION 107 ELLIS STREET
ALL THAT LOT OR PARCEL OF LAND, WITH IMPROVEMENTS THEREON, SITUATE,
LYING AND BEING IN THE CITY OF AUGUSTA, RICHMOND COUNTY, GEORGIA, AT
THE NORTHEAST CORNER OF ELLIS AND FORSYTH STREETS, HAVING A FRONT
OF 40 FEET ON ELLIS STREET AND RUNNING BACK OF EVEN WIDTH 98 FEET,
MORE OR LESS, AND BEINGBOUNDED AS FOLLOWS: ON THE NORTH ,.BY LOT,
NOW OR FORMERLY, OF MRS. KATE V. O'NEALL; ON THE EAST, BY PROPERTY,
NOW OR FORMERLY, OF CHARLES D. CARR; ON THE SOUTH, BY ELLIS STREET;
AND ON THE WEST, BY FORSYTHE STREET.
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SAID PROPERTY IS KNOWN AND DESIGNATED AS 107 ELLIS STREET ACCORDING
TO THE SYSTEM OF NUMBERING CURRENTLY IN USE IN AUGUSTA, RICHMOND
COUNTY, GEORGIA.
LEGAL DESCRIPTION 133 BROAD STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAJACSM LAND TITLE SURVEY, DATED OCTOBER 28, 1998, LAST
REVISED DECEMBER 7,1998, PREPARED BY W.R. TOOLE ENGINEERS, INC., AND
CERTIFIED BY STEVEN M. HARDY, GEORGIA REGISTERED LAND SURVEYOR NO.
2662 AND HAVING THE FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHEAST RIGHT-OF-WAY OF 2ND STREET (RIW V ARIES)
AND BROAD STREET (RIW V ARIES) AND CONTINUING EAST ALONG THE NORTH
RIGHT -OF - WAY OF BROAD STREET 40 FEET :I: TO A #4 REBAR FOUND AND THE
POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE LINE OF
NIF IMAN, INC. & N/F BAIN NORTH 24 DEGREES 00 MINUTES 44 SECONDS EAST A
DISTANCE OF 137.92 FEET TO A POINT; THENCE TURNING AND CONTINUING .
. ALONG THE LINE OF N/F DOWNTOWN AUGUSTA, INC. SOUTH 67 DEGREES 13 :
MNUTES 30 SECONDS EAST A DISTANCE OF 47.33 FEET TO A #5 REBAR FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F SW ANCY SOUTH 22
DEGREES 54 MINUTES 45 SECONDS WEST A DISTANCE OF 137.97 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE NORTH RIGHT-
OF-WAY OF BROAD STREET NORTH 67 DEGREES 07 MINUTES 49 SECONDS WEST A
DISTANCE OF 49.99 FEET TO THE POINT OF BEGINNING.
LEGAL DESCRIPTION 303 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAJACSM LAND TITLE SURVEY, DATED 11/9/98, PREPARED BY W.R.
TOOLE ENGINEERS, INC., AND CERTIFIED BY STEVEN M. HARDY, GEORGIA
REGISTERED LAND SURVEYOR NO. 2662 AND HAVING THE FOLLOWING METES
AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT-OF-WAY OF 3RD STREET (RIW VARIES)
AND ELLIS STREET (RIW V ARIES) AND CONTINUING WEST ALONG THE RIGHT OF
WAY OF ELLIS STREET 44.0 FEET :I: TO A 3/4 INCH OPEN TOP FOUND AND THE
POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE NORTH
RIGHT -OF-WAY OF ELLIS STREET NORTH 66 DEGREES 00 MINUTES 00 SECONDS
WEST ADISTANCE OF 40.31 FEET TO A #4 REBAR SET; THENCE TURNING AND
CONTINUING ALONG THE LINE OF N/F OLDE TOWN PROPERTIES NORTH 24
DEGREES 36 MINUTES 21 SECONDS EAST A DISTANCE OF 132.52 FEET TO A 5/8
INCH OPEN TOP FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE
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OF NfF BROWN SOUTH 65 DEGREES 40 MINUTES 17 SECONDS EAST A DISTANCE
OF 40.48 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING
ALONG THE LINE OF NfF DOWNTOWN AUGUST A, INe. SOUTH 24 DEGREES 40
MINUTES 52 SECONDS WEST A DISTANCE OF 132.29 FEET TO THE POINT OF
BEGINNING AND CONTAINING 0.12 ACRES (5,347,50 SQUARE FEET).
LEGAL DESCRIPTION 240 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "B" ON AN ALTAlACSM LAND TITLE SURVEY, DATED 11/4/98, .
PREPARED BY W.R. TOOLE ENGINEERS, INC., AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662 AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT-OF-WAY OF 3RD STREET (RfW VARIES)
AND ELLIS STREET (RfW VARIES) AND CONTINUING EAST ALONG THE SOUTH
RIGHT-OF-WAY OF ELLIS STREET 126.98 FEET:f: TO A #5 REBAR FOUND AND THE'
POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE SOUTH
RIGHT-OF-WAY OF ELLIS STREET SOUTH 65 DEGREES 58 MINUTES 12 SECONDS:
EAST A DISTANCE OF 40.02 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF 238 ELLIS STREET SOUTH 23 DEGREES 13
MINUTES 03 SECONDS WEST A DISTANCE OF 133.97 FEET TO A #5 REBAR FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF NfF DAVENPORT & NfF
BUCKLEY NORTH 64 DEGREES 28 MJNUTES 07 SECONDS WEST A DISTANCE OF
40.62 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG
THE LINE OF 246 ELLIS STREET NORTH 23 DEGREES 27 MINUTES 57 SECONDS
EAST A DISTANCE OF 132.90 FEET TO THE POINT OF BEGINNING AND
CONTAINING 0.12 ACRES (5,377.60 SQUARE FEET).
'LEGAL DESCRIPTION 238 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "A" ON AN ALTAlACSM LAND TITLE SURVEY, DATED 11/4/98,
PREP ARED BY W.R. TOOLE ENGINEERS, INe., AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. -2662 AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT -OF - WAY OF 3RD STREET (RfW VARIES)
AND ELLIS STREET (RfW VARIES) AND CONTINUING EAST ALONG THE SOUTH
RIGHT-OF-WAY OF ELLIS STREET 167.00 FEET:f: TO A #5 REBAR FOUND AND THE
POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE SOUTH
RIGHT-OF-WAY OF ELLIS STREET SOUTH 66 DEGREES 02 MINUTES 19 SECONDS
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EAST A DISTANCE OF 59.85 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIP BOLD SOUTH 24 DEGREES 26 MINUTES 51
SECONDS WEST A DISTANCE OF 134.34 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF NIP HAYES & NIP DAVENPORT
NORTH 65 DEGREES 39 MINUTES 41 SECONDS WEST A DISTANCE OF 56.98 FEET TO
A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF
240 ELLIS STREET NORTH 23 DEGREES 13 MINUTES 03 SECONDS EAST A DISTANCE
OF 133.97 FEET TO THE POINT OF BEGINNING AND CONTAINING 0.18 ACRES
(7,836,54 SQUARE FEET).
LEGAL DESCRIPTION 403 AND 405 WALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTNACSM LAND TITLE SURVEY, DATED 11/6/98, PREPARED BY W.R,
TOOLE ENGINEERS, INC., AND CERTIFIED BY STEVEN M. HARDY, GEORGIA
REGISTERED LAND SURVEYOR NO. 2662 AND HAVING THE FOLLOWING METES
AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT-OF-WAY OF 4TH STREET.,(RJW VARIES)
AND WALKER STREET (RJW VARIES) AT A P.K. NAIL FOUND THE POINT OF
BEGINNING; THENCE TURNING AND CONTINUING ALONG THE NORTH RIGHT-OF-
WAY OF WALKER STREET NORTH 64 DEGREES 56 MINUTES 55 SECONDS WEST A
DISTANCE OF 100.28 FEET TO A #4 REBAR SET; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIP ZARGE NORTH 24 DEGREES 19 MINUTES 28
SECONDS EAST A DISTANCE OF 90.16 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF NIP NAOMI SOUTH 64 DEGREES
34 MINUTES 02 SECONDS EAST A DISTANCE OF 100.20 FEET TO A POINT; THENCE
TURNING AND CONTINUING ALONG THE WEST RIGHT-OF-WAY OF 4TH STREET
SOUTH 24 DEGREES 15 MINUTES 59 SECONDS WEST A DISTANCE OF 89.49 FEET TO
THE POINT-OF-BEGINNING AND CONTAINING 0.21 ACRES (9,002.57 SQUARE FEET),
LEGAL DESCRIPTION 246 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "C" ON AN ALTNACSM LAND TITLE SURVEY DATED 11/4/98, PREPARED
BY W.R. TOOLE ENGINEERS, INC., AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662 AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT -OF - WAY OF 3RD STREET (RIW VARIES)
AND ELLIS STREET (RIW VARIES) 82 FEET :I: TO A #5 REBAR FOUND AND THE
POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE SOUTH
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NORTH, BY ELLIS STREET; ON THE EAST, BY PROPERTY NOW OR FORMERLY OF
BADGER; ON THE SOUTH, BY PROPERTY NOW OR FORMERLY OF MURPHEY; ON
THE WEST, BY PROPERTY NOW OR FORMERLY OF HARRISON.
SAID PROPERTY IS KNOWN AND DESIGNATED AS 204 ELLIS STREET ACCORDING
TO THE SYSTEM OF STREET NUMBERING CURRENTLY USED IN AUGUST A,
RICHMOND COUNTY, GEORGIA.
LEGAL DESCRIPTION: 306 2ND STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAJACSM LAND TITLE SURVEY DATED NOVEMBER 5, 1998, LAST
REVISED DECEMBER 7, 1998, PREPARED BY W.~. TOOLE ENGINEERS, INC., AND
. CERTIFIED BY STEVEN M. HARDY, GEORGIA REGISTERED LAND SURVEYOR NO.
2662 AND HAVING THE FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT -OF- WAY OF ELLIS STREET (R/W V ARIES)
AND 2ND STREET (R/W V ARIES) AND CONTINUING SOUTH 39 FEET :t TO A #5
REBAR FOUND AND THE POINT OF BEGINNING; THENCE TURNING AND
CONTINUING ALONG THE LINE OF N/F PETTIGREW SOUTH 70 DEGREES 47
MINUTES 28 SECONDS EAST A DISTANCE OF 82.81 FEET TO A 1 1/2 INCH OPEN TOP
FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F RAMBO &
N/F WEATHERS SOUTH 19 DEGREES 27 MINUTES 24 SECONDS WEST A DISTANCE
OF 43.62 FEET TO POINT; THENCE TURNING AND CONTINUING ALONG THE LINE
OF N/F WRIGHT NORTH 70 DEGREES 15 MINUTES 37 SECONDS WEST A DISTANCE
OF 19.31 FEET TO A POINT; THENCE TURNING AND CONTINUING SOUTH 18
DEGREES 57 MINUTES 16 SECONDS WEST A DISTANCE OF 4,58 FEET TO A POINT;
THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F WRIGHT NORTH 70
DEGREES 43 MINUTES 46 SECONDS WEST A DISTANCE OF 65.26 FEET TO A PUNCH
IN CONCRETE; THENCE TURNING AND CONTINUING ALONG THE EAST RIGHT-OF-
WAY OF 2ND STREET NORTH 21 DEGREES 31 MiNuTES 05 SECONDS EAST A
DISTANCE OF 47.98 FEETTO THE POINT OF BEGINNING.
LEGAL DESCRIPTION: 515 3RD STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAJACSM LAND TITLE SURVEY DATED 11/4/98, PREPARED BY W. R.
TOOLE ENGINEERS, INC., AND CERTIFIED BY STEVEN M. HARDY, GEORGIA
REGISTERED LAND SURVEYOR NO. 2662 AND HA VING THE FOLLOWING METES
AND BOUNDS TO WIT:
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BEGINNING AT THE NORTHWEST RIGHT-OF-WAY OF WALKER STREET (RfW
V ARIES) AND 3RD STREET (R/W V ARIES) AND CONTINUING NORTH ALONG THE
WEST RIGHT -OF - WAY OF 3RD STREET 61.59 FEET :t TO A #4 REBAR SET THE POINT
OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F
FLANAGAN NORTH 66 DEGREES 25 MINUTES 27 SECONDS WEST A DISTANCE OF
73.64 FEET TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE
LINE OF N/F WIGGINS NORTH 23 DEGREES 44 MINUTES 48 SECONDS EAST A
DISTANCE OF 46.83 FEET TO A 5/8 INCH OPEN TOP FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF N/F RICHARDS SOUTH 65 DEGREES 55 MINUTES
31 SECONDS EAST A DISTANCE OF 73.39 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND. CONTINUING ALONG THE WEST RIGHT-OF-WAY OF 3RD STREET
. .
SOUTH 23 DEGREES 26 MINUTES 22 SECONDS WEST A DISTANCE OF 46.19 FEET TO
THE POINT OF BEGINNING AND CONTAINING 0.08 ACRES (3,419.07 SQUARE FEET).
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ON AN ALTNACSM LAND TITLE SURVEY DATED OCTOBER 29, 1998, PREPARED
BY W.R. TOOLE ENGINEERS, me. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHWEST RIGHT OF WAY OF 2ND STREET (R/W V ARIES)
AND ELLIS STREET (R/W V ARIES) AND CONTINUING WEST ALONG ELLIS STREET
348.65 FEET :t TO A RAILROAD SPIKE FOUND AND THE TRUE POINT OF
BEGINNING; THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP
WILLIAMS SOUTH 24 DEGREES 26 MINUTES 19 SECONDS WEST A DISTANCE OF
107.86 FEET TO A 3/4 OPEN TOP FOUND; THENCE TURNING AND CONTINUING
ALONG THE LINE OF NIP DEMEDICIS NORTH 66 DEGREES 12 MINUTES 45 SECONDS
WEST A DISTANCE OF 49.61 FEET TO A 1/2 INCH OPEN TOP FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF NIP BAILEY NORTH 24 DEGREES
17 MINUTES 42 SECONDS EAST A DISTANCE OF 108.02 FEET TO A #5 REBAR
FOUND; THENCE TURNING AND CONTINUING ALONG THE SOUTH RIGHT OF WAY
OF ELLIS STREET SOUTH 66 DEGREES 01 MINUTE 14 SECONDS EAST A DISTANCE
OF 49.88 FEET TO THE TRUE POINT OF BEGINNING CONTAINING 0.12 ACRES
(5,369.21 SQUARE FEET).
LEGAL DESCRIPTION: 244 WALKER STREET
ALL THAT LOT OR PARCEL OF LAND, WITH IMPROVEMENTS THEREON, SITUATE,
LYING AND BEING IN THE CITY OF AUGUSTA, RICHMOND COUNTY, GEORGIA,
FRONTING 50 FEET, MORE OR LESS, ON THE SOUTH SIDE OF WALKER STREET
BETWEEN HOUSTON (SECOND) AND LINCOLN (THIRD) STREETS AND EXTENDING
BACK IN A SOUTHERLY DIRECTION BETWEEN PARALLEL LINES A DISTANCE OF
132 FEET, MORE OR LESS, AND BEING KNOWN AND DESIGNATED AS LOT 115 ON A
PLAT RECORDED IN THE OFFICE OF THE CLERK OF SUPERIOR COURT OF
RICHMOND COUNTY, GEORGIA, IN REALTY BOOK 2F, PAGES 252 - 253, AND
BOUNDED AS FOLLOWS: ON THE NORTH, BY WALKER STREET; ON THE EAST, BY
LOT 114 OF SAID PLAT; ON THE SOUTH, BY LOT NOW OR FORMERLY OF THE
ESTATE OF W.T. DAVIDSON; AND ON THE WEST, BY LOT 116'OF SAID PLAT,
SAID PROPERTY IS KNOWN AND DESIGNATED AS 244 WALKER STREET
ACCORDING TO THE SYSTEM OF STREET NUMBERING CURRENTLY IN USE IN
AUGUST A, RICHMOND COUNTY, GEORGIA.
LEGAL DESCRIPTION: 236 AND 238 WALKER STREET
ALL THAT LOT OR PARCEL OF LAND, WITH IMPROVEMENTS THEREON, SITUATE,
LYING AND BEING IN THE CITY OF AUGUSTA, RICHMOND COUNTY, GEORGIA, ON
THE SOUTH SIDE OF WALKER STREET, BETWEEN HOUSTON (SECOND) STREET
AND LINCOLN (THIRD) STREETS, HA VINGA FRONT AGE ON SAID WALKER STREET
19
F:\Documents\PRC\white oak\LEGAL DESCRlPTIONS.COMBINE4.doc
REHABILITATION LOAN AGREEMENT'
(HOME Investment Partnership Program)
This Rehabilitation Loan Agreement is executed as of December dll, 1998, by and
between Olde Town Asso'ciates, L.P., a Georgia limited partnership (the "Borrower") whose
managing general partner is White Oak Olde Town, Inc" a Georgia corporation, (the
"Managing General Partner"), and Augusta, Georgia, a political subdivision of the State of
Georgia (the "Lender")~
WITNESSETH:
WHEREAS, Lender is making a loan (the "Construction Loan") in the maximum to
principal amount.of $ 1,137,000 to Borrower to finance the rehabil;i.tation of a 116-unit
multifamily rental housing project known as Olde Town Apartments (the improvements
being rehabilitated are referred to as the "Improvements") in the Olde Town neighborhood
o.f the City of Augusta, Richmond County, Georgia, more particularly described in the
attached Exhibit A (the Improvements and the real property are collectively referred to as
the "Premises"); ,
WHEREAS, the Loan is being made with federal funds made available or expected
to be made available to Lender pursuant to the Act and the HOME Regulations; and
WHEREAS, Borrower and Lender wish to enter into this Agreement in order to set
forth the terms and conditions of the Loan;
NOW, THEREFORE, in consideration of the premises, the mutual covenants set
forth below, and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, Borrower and Lender agree as follows:
Article 1. Definitions
1.01. "Act" means Title II of the Cranston-Gonzalez National Affordable Housing Act,
Pub, L, 101-625.
1.02, "Architect" means Spencer Maxwell Bullock Architects in its capacity as the
architect for the Work, and its successors and assigns in such capacity.
1.03, "Area Median Income" means the median income for the area where the Premises
are located, as determined annually by HUD,
1.04. [Intentionally omitted,]
1.05. [Intentionally omitted.]
1.06, "Business Day" means any day on which Lender is open for business. Any other
reference to "day" means calendar day,
1.07. "Closing" means the closing ofthe Loan.
1.08. "Collateral" means any real, personal, and intangible property that secures the
payment and performance of Borrower's obligations under the Loan Documents, including
any personal property or fixture of Borrower located on or used at the Premises.
1.09, "Completion Date" shall have the meaning ascribed to it in the Note.
1.10. "Completion Schedule" means the schedule attached as Exhibit B.
1.11. "Construction Contract" means the contract between Borrower and the General
Contractor, "Construction Con_tract" also includes any other contract between Borrower
and another person for labor or materials to rehabilitate the Improvements,
1.12. "Construction Consultant" means any person the State and/or the Lender may
designate as such from time to time.
1.13, "Contract Documents" means the Construction Contract and Plans and
Specifications and any other contracts, agreements, and documents described in the
attached Exhibit C together with any changes, extensions, reVISIOns, modifications, or
guaranties of performance of them,
1.14. "Development Cost Schedule" or "DCS" means the schedule of costs attached as
Exhibit D,
1.15. "Draw Request" means Borrower's request for a disbursement of Loan proceeds
pursuant to Article 4,
1.16, "Effective Date" means the date of this Agreement,
1.17, "Event of Default" or "default" means an event that is defined as a breach or default
under this Agreement,
1.18, "Financing Statement" means the Uniform Commercial Code Financing Statement
notice filing by Borrower, as debtor, listing Lender as secured party, which will be used to
perfect Lender's security interest in certain personal property and fixtures.
1.19, "General Contractor" means Bradley Construction Company, Inc, in its capacity as
the general contractor for the Work, and its successors and assigns in such capacity,
1.20, "Hazardous Materials" means any "hazardous waste" as defined by the Resource
Conservation and Recovery Act of 1976; any "hazardous substance" as defined by the
Comprehensive Environmental Response, Compensation and Liability Act of 1980; any
substance the presence of which on the Premises is prohibited by any environmental law;
contamination resulting from any oil, petroleum products, and their by-products; and
contamination resulting from any materials which, under any Requirement, court or
administrative order or decree, or private agreement require special handling in collection,
storage, treatment, or disposal.
1.21. "HOME-Assisted Unit" means any unit of housing rehabilitated with HOME funds,
1.22. "HOME Regulations" means HUD's regulations (including any amendments) under
the Act, currently codified at Code of Federal Regulations, Title 24, Part 92,
1.23. "HUD" means the United States Department of Housing and Urban Development or
any successor agency,
1.24. "Including" means "Including (but not limited to)" unless specifically stated to the
contrary.
1.25, "Inspecting Engineer" means any person Lender and/or the State may designate as
such from time to time,
1.26 "Intercreditor Agreement" means the agreement between Lender, Senior Lender
and Borrower regarding the disbursement, administration and priority of the Loan and the
Senior Loan,
1.27. "Investor" means 'all limited partners of Borrower who have or will purchase the low
income housing tax credits generated by the Premises.
1.28, "Lease" or "leases" means any lease, rental agreement, or license for any part of the
Premises.
1.29, "Loan Documents" means this Agreement, the Note, Security Deed, Restrictive
Covenants, Financing Statement, and any and all other documents and instruments
evidencing, securing, or otherwise relating to the Loan, as amended, modified, restated,
supplemented, or replaced from time to time.
1.30, "Low Income" or "Low Income Person" means a household with a gross annual
income less than or equal to 60% of Area Median Income. Gross annual income shall be
determined in accordance with the HOME Regulations,
1.31. "Manager" means White Oak Management Corp, in its capacity as manager of the
Premises and its successors and assigns in such capacity,
1,32, "Note" means the Promissory Note of even date herewith from Borrower to Lender
in the principal amount of up to $1,137,000,
1.33 "Person" shall include natural persons, corporations, partnerships, trusts, and other
business forms and entities,
1.34. "Plans and Specifications" means the plans and specifications for the Work, as more
particularly described in the attached Exhibit E and any subsequent changes to those
plans and specifications made in accordance with this Agreement,
1.35, "Premises" has the meaning provided in the preamble,
1.36, . "Public Body" and "Public Bodies" mean the United States, the State of Georgia, the
Augusta-Richmond County Commission, the city of Augusta, Georgia and any political or
regulatory subdivision, agency,' department, commission, board, bureau, or other
instrumentality thereof.
1.37, "Requirement" means any federal, state, county, or local law, ordinance, order, rule,
or regulation, "Environmental Requirement" means any Requirement or private
agreement relating to Hazardous Materials or the environment. All references to any
specific Requirement (such as the Act) shall include any regulations relating to that
Requirement and shall include any amendments to that Requirement that may be made
from time to time.
1.38, "Restrictive Covenants" means the Land Use Restriction Agreement between
Borrower and Lender.
1.39, "Security Deed" means the Deed to Secure Debt and Security Agreement from
Borrower to Lender, conveying the Premises and granting a security interest in the
personal property described in the Deed to Secure Debt and Security Agreement.
1.40. "Senior Loan" means the acquisition loan in the original principal amount of
$1,730,000 from the State ("Senior Lender") to Borrower; "Senior Loan Documents" means
all documents relating to the Senior Loan.
1.41. "State" means the Georgia Department of Community Mfairs, in its capacity as the
maker of the Senior Loan and its successors and assigns in such capacity,
1.42. "Tax Credit Documents~' ,means the any and all documents and instruments
evidencing, governing, or entered into as a result of borrower's receipt of an allocation of
low-income housing tax credits,
1.43.' "Taxes" means any real estate taxes and assessments, any water, sewer, or utility
charges or levies, and any other governmental or private dues, charges, or levies relating to
real estate,
1 44, "Tenant" or "tenants" means a tenant, lessee, or licensee under any Lease.
1.45. "Very Low Income" means a household with a gross annual income less than or
equal to 50% of Area Median Income, Gross annual income shall be determined in
accordance with the HOME Regulations.
1.46, "Work" means the rehabilitation of the Improvements, as contemplated by this
Agreement and the Plans and Specifications.
Article 2. Warranties and Agreements of Borrower.
Borrower hereby represents and warrants that each of the statements in Article 2 is true
and does not omit any material fact:
2,01. Organization. Status. and Authority,
(a) Borrower is a duly formed and validly existing Georgia limited partnership. Borrower
has the power, authority, and legal right to carryon its business and to engage in the
transactions contemplated by the Loan Documents. The execution and delivery of the Loan
Documents and the performance and observance of their provisions have been duly
authorized by all necessary actions of its partners.
(b) The Managing General Partner is a duly formed and validly existing corporation in
good standing under Georgia law; the Managing General Partner has the corporate power,
authority, and legal right to carryon its business and to engage in the transactions
contemplated by the Loan Documents; and the execution and delivery of the Loan
Documents by the Managing General Partner on behalf of Borrower (and, where
applicable, on its own behalf) and the performance and observance of their provisions have
been duly authorized by all necessary actions of its board of directors and shareholders.
2.02, Financing Documents. Borrower has duly executed and delivered to Lender the
Loan Documents and all other documents Lender deems necessary or desirable to close the
Loan or evidence the agreement of the parties. To the best of Borrower's knowledge, the
Loan Documents are in all respects legal, valid, binding, and enforceable in accordance
with their terms.
2.03. Plans and Specifications, Borrower has provided Lender with a complete and
accurate copy of the Plans and Specifications. The construction, finish, and quality of
materials required by the Plans and Specifications is comparable to that of similar projects
in Richmond County, Georgia. To the extent required, all Public Bodies that exercise
jurisdiction over the Work or the Premises have approved the Plans and Specifications, All
Work performed before the Effective Date has been performed in accordance with the Plans
and Specifications, has been fully paid for, and contains no defects.
2.04. Construction Documents. Borro~er and the General Contractor have executed the
Construction Contract for the Work and the HOME addendum thereto and there is no
default under either of them. Borrower has not done or omitted to do any act that might
prevent it from exercising any of its rights under the Construction Contract or any of the
other Contract Documents, The Contract Documents are in full force and effect and have
not been modified or amended,
2,05. Building Permits. Borrower has obtained or will obtain all necessary permits and
licenses required to begin and continue the Work and has delivered or will deliver to
Lender copies of all permits and licenses.
2,06, Title and Liens. Borrower owns fee simple title to the Premises, subject only to
those liens and other matters permitted under the Security Deed, No person other than
Borrower has any beneficial or legal interest in the Premises. Borrower has made no
contract or arrangement, -the performance of which by the other party could give rise to a
lien against the Premises, except for the Construction Contract and the Senior Loan
Documents. Except for the security interest of Lender and Senior Lender there are no
security interests in or liens on the Collateral.
2,07. Conflicts, The transactions contemplated by this Agreement and the performance of
Borrower's obligations under the Loan Documents will not constitute a breach of or default
under any mortgage, security deed, deed of trust, lease, bank loan or credit agreement,
partnership agreement, or other instrument or order to which Borrower is a party or by
which it is bound or affected.
2,08. Litigation. There are no actions, suits, or proceedings pending or, to the best
knowledge of Borrower, threatened against or affecting it or the Premises or involving the
validity, enforceability, or priority of any of the Loan Documents. Borrower is not in
default with respect to any order, writ, injunction, decree, or demand of any court or any
governmental authority and by entering into the Loan Documents will not be in default
under any such document,
2.09, Compliance with Requirements, Borrower knows of no violation or notice of
violation of any Requirement relating to it or the Premises, The Plans and Specifications,
the Work, and Borrower's contemplated use of the Premises comply and will comply with
all Requirements (including zoning ordinances), restrictive covenants (including the
Restrictive Covenants), and regulations of appropriate supervising boards of fire
underwriters and similar agencies.
2.10. Availability of Utilities. All utilities needed for the Work and to operate the
Improvements are available at the boundaries of the Premises through public or private
easements or rights-of-way or shall be made available to the Premises on or before the date
when service with respect to such utilities is needed, If there is any private easement for
those purposes, it runs with the Premises.
2,11, Access, All roads needed for the Work and the full use of the Improvements for
their intended purpose are either complete or the rights of way for all such roads have been
acquired by the appropriate Public Body or have been dedicated to public use and accepted
by such Public Body, and Borrower and such Public Body have taken all necessary steps to
ensure that the roads are completed and installed, All curb cuts and traffic signals shown
on the Plans and Specifications are existing or have been approved by all necessary Public
Bodies.
2,12, IIntentionallyomitted.]
2,13, IIntentionally omitted.]
2.14. Taxes and Assessments, For purposes of all Taxes, the Premises are and will be
assessed as separate and distinct parcels from any other real property not included in the
Premises, so the Premises shall never become subject to the lien of any Taxes levied or
assessed against any real property other than the Premises, There are no Taxes that are
currently due and unpaid.
2.15. Environmental Reauirements. To the best of Borrower's knowledge, the Premises
(including surface and ground water) are free of any substantial amounts of waste or
debris and are free of all Hazardous Materials other than those which will be removed or
abated as part of the Work, if any, There are no substances located on or used in
connection with the Premises in violation of any Environmental Requirement other than
those which will be removed or abated as part of the Work, if any, Without limiting the
foregoing, if the Federal Clean Air Act or the Federal Water Pollution Control Act or both
are applicable to the Premises, Borrower represents that the Improvements are in
compliance with such Acts,
2,16, No BankruDtcy. No bankruptcy or insolvency proceedings are pending or
contemplated by Borrower or, to Borrower's knowledge, against Borrower, and Borrower is
able to pay its debts as they become due,
2,17, No Condemnation. No proceeding to take all or any part of the Premises by
condemnation or eminent domain is pending, and Borrower has not received any notice
that any such proceeding is being considered by any Public Body,
2,18, No Default. No default by Borrower exists under this Agreement, any other Loan
Document, or the Senior Loan Documents, and no event has occurred and is continuing
which, with notice or passage of time or both, would constitute a ,default under any such
Loan Documents.
2,19. IIntentionallyomitted.]
2,20. Conflicts of Interest. To the best of Borrower's knowledge, no member, employee,
officer, agent, consultant, or official of Lender, or any member of their immediate families,
during their tenure or employment by Lender and for one year afterwards, has or will have
any interest, direct or indirect, in this Agreement or any proceeds or benefits arising from
it,
2,21. Debarment and SusDension. Neither Borrower, the Managing General Partner, nor
any of their principals or owners are presently debarred, suspended, proposed for
debarment or suspension, declared ineligible, or voluntarily excluded from participation in
this transaction by any Public Body or Lender. Without Lender's prior written consent,
Borrower shall not knowingly enter into any oral or written contract with a Person who is
debarred, suspended, proposed for debarment or suspension, declared ineligible, or
voluntarily excluded from participation in this transaction or the HOME Investment
Partnership Program by any Public Body or Lender.
2,22, Lobbying. (a) No federally appropriated funds have been paid or will be paid by or
on behalf of Borrower to any Person for influencing or attempting to influence an officer or
employee of any federal agency, a Member of Congress, an officer or employee of Congress,
or an employee of a Member of Congress in connection with the awarding of any federal
contract, the making of any federal grant, the making of any federal loan, the entering into
of any cooperative agreement, or the extension, continuation, rene'wal, amendment, or
modification of any federal contract, grant, loan, or cooperative agreement.
(b) If any funds other than federally appropriated funds have been paid or will
be paid to any person for influencing or attempting to influence an officer or employee of
any federal agency, a Member of Congress, an officer or employee of Congress, or any
employee of a Member of Congress in connection with this Agreement, Borrower shall
complete and submit HUD Standard Form-LLL, "Disclosure Form to Report Lobbying," in
accordance with its instructions.
(c) Borrower require that the substantive language of the certifications in (a)
and (b) above be included in the award documents for all subawards at all tiers (including
subcontracts, subgrants, and contracts under grants, loans, and cooperative agreements)
and that all subrecipients shall certify and disclose accordingly.
Article 3. Borrower's Covenants.
Borrower hereby further covenants and agrees with Lender as follows:
3,01. Use of Loan Proceeds, Borrower shall use the Loan proceeds solely for the purposes
of funding the Work. None of the Loan proceeds shall be used for personal, family, or
household purposes.
3,02, Commencement and Completion of Construction. Borrower shall begin the Work
within 60 days of the Effective Date, but no Work shall begin until it has received the
necessary building permits or other approvals required by any Public Body, Borrower shall
diligently and continuously pursue the Work in accordance with the Completion Schedule,
the Plans and Specifications, the HOME Regulations, and in compliance with the Loan
Documents, all applicable restrictive covenants and standards, and all Requirements,
Upon request, Borrower will promptly provide Lender with. evidence of satisfactory
compliance with any or all of the above. The Work shall' be completed before the
Completion Date. Completion of the Work shall be deemed to have occurred when Lender
has approved the completed work as described in the Plans and Specifications and received
a copy of all applicable Architect's certificates with respect to the Premises. The Work
shall be completed free and clear of any lien or claim of lien for either materials supplied or
labor or services performed in connection with the Work, except as otherwise approved by
Lender,
3,03. Correction of Defects, The Improvements shall not have any structural defects,
Borrower shall promptly correct any structural defect found in the Work, any departure
from the Plans and Specifications not previously approved in writing by Lender, or any
departure from the applicable standards in the HOME Regulations. The advance of Loan
proceeds (before or after Lender knows of such defects or departures) shall not constitute a
waiver of Lender's right to require compliance with this covenant.
3,04, Change Orders. Without Lender's prior consent, Borrower shall not make or permit
any change to the Plans and Specifications. If Borrower wants to make a change, it must
first submit a proposed change order to Lender along with the following: (a) the Architect's
approval; (b) the approval of the Construction Consultant or Inspecting Engineer; (c) the
consent of the surety (if applicable); and (d) the consent of the General Contractor and any
subcontractor affected by the proposed change order. If the change order increases the
amount due under the Construction Contract, as a condition for its approval, Lender may
require Borrower to deposit with it an amount sufficient to cover the additional cost,
Lender will respond to any request for approval of a proposed change order within 10
Business Days after receipt. of the change order, all supporting information Lender may
request for purposes of evaluating it, and the other materials required above. If Lender
fails to respond within that time, Lender shall be deemed to have approved such requested
change, Notwithstanding any provision hereof to the contrary, consent by Senior Lender to
a proposed change order shall be deemed to constitute approval thereof by the Lender,
3,05, Construction Contract, Without Lender's prior written consent, Borrower shall not:
(a) permit any material default under the Construction Contract; (b) waive any material
obligations of the General Contractor under the Construction Contract; (c) except for
approved change orders, make any amendment to the Construction Contract or terminate
it; or (d) enter into any agreement other than the Construction Contract relating to the
Work. Borrower shall provide in the Construction Contract that: (w) General Contractor
shall comply with the insurance requirements of this Agreement; (x) all subcontractors are
subject to the prior approval of Lender, provided, however that approval thereof by the
Senior Lender shall be deemed to constitute approval thereof by Lender; (y) the General
Contractor shall not make or permit any changes in the Plans and Specifications without a
change order submitted and approved as required by this Agreement; and (z) upon
Lender's request, the General Contractor shall provide Lender with a list of all Persons
with whom the General Contractor has contracted or intends to contract for any part of the
Work or furnishing of materials and a copy of the subcontract or material purchase order
with any such person.
3.06, Borrower Insurance. Except as otherwise indicated, before Closing, Borrower shall
obtain the following policies of insurance and shall maintain them in force until the Loan is
paid in full:
(a) Title Insurance. An original lender's title insurance policy for Lender with
coverage of at least $1,137,000 which policy shall be provided to Lender within 30 Business
Days from the Effective Date.
(b) If the General Contractor has not obtained or will not obtain l?uilder's risk
insurance or if such insurance is terminated before completion of the Work, extended
coverage (all-risk) builder's risk insurance on a non-reporting, completed value basis,
iI1suring the I~provements for an amount not less than 100% of the full replacement cost
of the Improvements without deductions for depreciation and providing that all claims for
losses shall be payable to Lender without contribution by Lender, pursuant to a mortgagee
clause satisfactory to Lender;
(c) Mter completion of the Work, extended coverage (all-risk) hazard insurance,
insuring the Premises and any other improvements on the property in an amount not less
than 100% of the replacement cost of the Improvements (with no reduction for
depreciation) with a betterment and increased cost endorsement and providing that all
claims for lossel::l shall be payable to Lender without contribution by Lender, pursuant to
the New York Standard or other mortgagee clause satisfactory to Lender. Unless Borrower
is required to deliver such policy to Lender before Closing, Borrower shall deliver a copy of
t~e policy required under this section to Lender upon completion of the Work and before
any portion of the Premises is occupied by Borrower or any tenant. Any improvements on
the Premises not being rehabilitated in connection with the Work, however, must be
insured under such a policy no later than the Effective Date, and a copy of such policy
delivered to Lender at or before Closing.
(d) Rental interruption insurance, insuring Borrower in an amount not less than
100% of gross rental income from the Improvements for a period of not less than 12
months.
(e) Commercial general liability insurance in the minimum amount of $1,000,000,00
per occurrence with no deductible, including insurance against liability for personal injury,
bodily injury, death, property damage, medical expenses, and liability assumed by contract,
which policy shall be written on an occurrence basis and for primary coverage, insuring
Borrower and naming Lender (and such other parties as Lender may direct) as an
additional insured. In its discretion, Lender may require the above-stated minimum
coverage be increased or that an umbrella policy be obtained increasing the coverage. A
blanket policy may not be used without Lender's prior written consent.
(f) Workers' Compensation Insurance as required by statute.
(g) Business vehicle liability insurance in the minimum amount of $1,000,000,00,
(h) If any part of the Premises is in an area now or subsequently designated as
. having special flood hazards, as defined in the Flood Disaster Protection Act of 1973, flood
insurance in an amount equal to the replacement cost of the Improvements or the
maximum amount of flood insurance available, whichever is less.
(i) Employee fidelity insurance, insuring Borrower against losses, including losses
from the actions of Manager or its employees.
(j) Insurance covering the major components of the central heating, air conditioning,
and ventilating systems, boilers, other pressure vessels, high pressure piping and
machinery, if any, or other similar equipment installed in the Improvements on a repair
and replacement basis, which policies shall also insure against physical damage to the
Improvements arising out of a covered accident,
(k) Such other insurance on the Premises or any other Collateral as may from time
to time be reasonably required by Lender against other insurable hazards which at the
time are commonly insured against in the case of properties of similar character and
location, due regard being given to the type of Improvements, their construction, location,
use and occupancy.
The form, amount, types of coverage, and issuer of all insurance required by
this Agreement is subject to Lender's approval. As further collateral for the payment of the
Note, Borrower hereby assigns to Lender all policies of insurance that insure against any
loss or damage to the Premises and any proceeds from such insurance. As Lender may
require, Lender shall be a named insured or loss payee on all such policies pursuant to a
mortgagee clause or o~her clause satisfactory to Lender, but Lender shall not be subject to
contribution, All insurance required by this Agreement shall contain a provision which
provides Lender with at least 30 days notice of any cancellation of the insurance,
Notwithstanding the foregoing, approval by Senior Lender of the form, amount, types of
coverage and issuer of all insurance required by this Agreement shall be deemed to
constitute approval thereof by Lender.
Not less than 30 days before the expiration date of each policy of insurance required
under this Agreement, Borrower shall deliver to Lender a renewal policy or policies
marked "p'remium paid" or accompanied by other evidence of payment satisfactory to
Lender.
If Borrower by reason of such insurance receives any money for loss or damage,
such amount shall be delivered to Lender to be applied in accordance with this Agreement
and the Intercreditor Agreement.
Borrower shall cooperate with Lender in obtaining for Lender the benefits of any
insurance or other proceeds payable' to Lender under this Agreement or in connection with
the Loan or the Premises and on demand shall promptly reimburse Lender for any
expenses Lender incurs in obtaining those benefits (including the payment by Borrower of
the expense of an independent appraisal on behalf of Lender in case of a fire or other
casualty affecting the Premises), and if Lender is not so reimbursed, Lender may first
deduct such expenses from the insurance proceeds before applying such proceeds,
If in its sole discretion Lender has permitted the Loan to close without having
received certified copies of all insurance policies required under this section and the next,
within 30 days after Closing, Borrower shall provide Lender with certified copies of all
such policies or, if Lender permits (in its sole discretion), certificates of insurance
indicating that such policies are issued and in force and evidence of payment of premiums;
provided, however, if Borrower provides Lender with certificates of insurance, the
certificates must be ACORD 27 certificates (ACORD 24 and 25 forms are not acceptable), If
Borrower fails to provide Lender with certified copies of insurance policies or certificates of
insurance and evidence of premium payment or if any policy of insurance required under
this Agreement is canceled or terminated by an insurer for any reason and Borrower does
not promptly replace it with insurance acceptable to Lender, such failure shall constitute a
default under this Agreement, and, in addition to whatever other remedies it may have,
Lender shall have the right (but not the obligation) to procure such insurance with the
terms and conditions as Lender, in its sole discretion, may determine. If Lender does so,
Borrower shall pay on demand the premiums Lender has paid, or, if Borrower fails to make
such payment, Lender may treat the failure to repay as a default under this Agreement or
add the premiums paid for such insurance to the principal amount of the Loan, to be repaid
upon the terms and conditions of the Note, or both. If Borrower subsequently obtains
replacement insurance acceptable to Lender and if it has previously reimbursed Lender for
premiums Lender paid, Lender .will apply any rebate of premium on the insurance against
the principal amount of the Loan then outstanding or any other obligations owed under the
Loan Documents in whatever order Lender may deem appropriate.
3.07, General Contractor Insurance, The General Contractor shall obtain or cause its
subcontractors to obtain the policies of insurance listed below, The policies shall be fully
paid, and the insurers, coverage amounts, expiration dates, and the form and contents of
the policies are subject to Lender's approval; provided, however, that approval thereof by
Senior Lender shall be deemed to constitute approval thereof by Lender, Each such policy
shall be kept in force until completion of the Work and shall provide that the insurer must
give Lender at least 30 days prior written notice of cancellation or termination and further
provide that nothing the insured does shall invalidate or diminish the Lender's insurance
protection, Borrower shall provide Lender with certified copies of the policies and
certificates of insurance indicating that such policies are issued and in force in before any
work on the Improvements begins together with evidence of payment of premiums,
(a) Commercial general liability insurance in the minimum amount of
$1,000,000.00 per occurrence, which policy shall be written on a per occurrence basis;
(b) Subcontractor insurance, insuring all subcontractors performing any work on
the Improvements;
(c) Workers' compensation insurance as required by statute;
(d) Business vehicle liability msurance m the mmlmum amount of
$1,000,000,00; and
(e) Unless Borrower is obtaining the fire and hazard insurance required under
section 3,06(c) at or before Closing, extended coverage (all-risk) builder's risk insurance on
a non-reporting, completed value basis, insuring the Improvements against fire and all
hazards ordinarily covered by such a policy in an amount not less than 100% of the full
replacement cost of the Improvements without deductions for depreciation, and containing
a mortgagee loss payable clause satisfactory to Lender.
3,08, IIntentionallyomitted.]
3,09, Inspections, At any reasonable time, Lender and its agents and representatives
shall have access to the Premises to inspect the Improvements, the Work, the materials
being used in the Work, and the Plans and Specifications being used at the construction
site, Borrower shall cooperate and cause all contractors to cooperate with Lender and its
representatives during such inspections, This provision shall not, however, be deemed to
impose upon Lender any obligation to inspect or any liability for the failure to detect or
remedy any defect that was or might have been disclosed by an inspection.
3.10, Books and Records. Borrower shall keep accurate, complete, and adequate books,
records, and accounts for the operation of the Premises and the Work, which shall be
separate from any general accounting records which Borrower may keep. Upon not less
letter shall be reasonably satisfactory to Lender, Also, at or before Closing, Borrower shall
provide Lender with an affidavit from an officer of Borrower's Managing General Partner,
in form and substance satisfactory to Lender, along with any other documents or
instruments that Lender deems necessary to close the Loan and create and perfect its
interest in any of the collateral for the Loan,
Within a reasonable time after requested to do so, Borrower shall: (a) deliver to
Lender copies of any contract, bill of sale, statement, receipt, voucher, or agreement under
which Borrower claims title to any material, fixture, or article incorporated in the
Impl;'ovements or located on the Premises and subject to Lender's security interest or
security title; (b) execute and deliver to Lender such documents, instruments, assignments,
and other writings, and do such other acts reasonably necessary tq preserve and protect
'the Collateral, as Lender may require; (c) do all such other lawful and reasonable acts and
execute all such further conveyances and assurances as may be reasonably necessary for
the more effective carrying out of the intents and purposes of this Agreement, as Lender
shall reasonably require from time to time.
3.13. Easements and Restrictions. Borrower shall not grant any easements burdening
the Premises or subject the Premises to any restrictive covenants without Lender's prior
written consent. .
3.14, Compliance With Requirements. Borrower will promptly comply with each and
every Requirement, order, or private covenant applicable to it or the' Premises and shall
not do anything that constitutes a public or private nuisance or that makes void, voidable,
cancelable, or increases the premium of any insurance for the Premises. On demand,
Borrower shall furnish Lender with independent evidence of compliance with this section.
So long as Borrower is not in .default, Borrower shall have the right to contest the validity
or applicability of any such Requirement if it does so diligently, in good faith, without
prejudice to Lender, and (if required by Lender) it provides a bond or other security
satisfactory to Lender to protect Lender's interest,
3.15, Environmental Requirements, Borrower shall comply with all Environmental
Requirements, including the Federal Clean Air Act or the Federal Water Pollution Control
Act, and shall not place or permit to be placed on the Premises any Hazardous Materials
except materials used in the ordinary course of development and operation of the
Improvements. If at any time there are Hazardous Materials located on the Premises that
require special handling, collection, storage, treatment, or disposal, Borrower at its sole
expense shall take or cause to be taken such actions as may be necessary to comply with all
Environmental Requirements,
At Borrower's sole expense, Borrower shall provide Lender with soil tests of the
Premises as Lender may reasonably request, If there is a material change in any
Requirement governing the assessment, release, or removal of Hazardous Materials, which
change would lead a lender to require aq,ditional testing of the Premises Borrower shall at
its sole expense take all such action (including conducting engineering tests) as Lender
may request to confirm that no hazardous substance is or ever was stored, disposed of, or
released on or from the Premises.
If Borrower fails to take any action required of it under this section, Lender may
(but is not required to) take the action. If Lender does so, Borrower shall reimburse
Lender for all sums Lender advanced or paid in connection with any such action, including
all sums advanced or paid in connection with any judicial or administrative investigation
or any related proceeding including rea'sonable attorneys' fees, fines, or other penalty
payments.
Borrower shall provide Lender with written notice: (a) upon learning of any
potential or known release, or threat of release, of any hazardous substance on or from the
Premises; (b) upon receipt of any notice from any environmental authority of any such
potential or known release or threat of release; or (c) upon learning that any governmental
authority has incurred any expense or loss in connection with the assessment,
containment, or removal of any Hazardous Material for which expense or loss Borrower
may be liable or for which expense or loss a lien may be imposed on the Premises.
Borrower indemnifies Lender' against any loss, damage, liability, or expense
(including reasonable attorneys' fees and court costs and other costs of litigation or other
proceeding), arising from any violation or purported violation of any Environmental
Requirement relating to the Premises that occurred before or occurs during Borrower's
ownership of the Premises, including any loss, expense, damage, liability, or charge arising
in whole or in part from Lender's negligence or alleged negligence, but not including any
matters or circumstances resulting from or arising out of any intentionally wrongful act or
omission of Lender or its agents. This covenant of indemnification shall survive the
expiration or termination of this Agreement, the payment of the Loan, and any foreclosure
of the lien and security interest of the Security Deed or any deed given in lieu of foreclosure
under the Security Deed and shall inure to the benefit of Lender and its successors and
assigns, if Lender becomes a successor-in-interest to the Premises, and to the benefit of the
owner of the Premises under any conveyance by deed in lieu of foreclosure or any sale
under power under the Security Deed.
3,16. Non-Discrimination. Borrower will comply with all Requirements relating to
nondiscrimination, including the following: the Civil Rights Act of 1963; Executive Order
11063; Executive Order 11246; Acre Discrimination Act of 1975; Equal Credit Opportunity
Act; Fair Credit Reporting Act; Fair Housing Act; Title VI of the Civil Rights Act of 1968;
Georgia Fair Housing Act; the Americans with Disabilities Act; Section 504 of the
Rehabilitation Act of 1973.
3.17. Other Federal Requirements. Borrower shall comply with the following federal
Requirements:
(a) Section 3 of the Housing and Urban Development Act of 1968, which requires
that, to the greatest extent feasible: opportunities for training and employment arising in
connection with the planning, and carrying out of the Work will be provided to Low and
Very Low Income Persons residing within the area of the Premises; and contracts for work
will be awarded to business concerns that are located in or owned by persons residing
within the area of the Premises.
(b) Executive Orders 11625, 12432, and 12138, as amended, which require
Borrower to establish a minority outreach program to insure the inclusion, to the
maximum extent possible, of minorities and women and entities owned by minorities and
women ("MBEIWBE") in the carrying out of any activity pursuant to this Agreement and in
the operation and management of the Premises, Borrower agrees to conduct such outreach
activities in accordance with the affirmative marketing plan submitted to and approved by
Lender and Lender, Borrower shall maintain records, documentation, and data as
required by the HOME Regulations, or by Lender, including records, documentation, and
data evidencing (1) the racial, ethnic or gender character of each business entity
participating in the Work; (2) the amount of the contract or subcontract; and (3) that
MBEIWBE's have equal opportunity to compete for and obtain business, When
economically feasible, Borrower shall divide total requirements into small tasks and
quantities to permit the maximum participation by MBEIWBE's and shall require the
same of any subrecipients, prime contractors, and owners of housing assisted with HOME
Funds.
(c) The Copeland "Anti-Kickback" Act (18 U.S,C, 874 et seq.), the Davis-Bacon
Act (40 U.S,C. 276a et seq.), and Sections 103 and 107 of the Contract Work Hours and
Safety Standards Act (40 U.S.C. 327 et seq,).
(d) The Uniform Relocation Assistance and Real Property Acquisition Policies
Act, 42 U.S.C. 4601 et seq. (1970), (the "U.RA."), the Community Development Act of 1974,
which among other things requires that the displacement of individuals during the Work
be minimized, that any tenants occupying the Premises be provided an opportunity to lease
and occupy a suitable, decent, safe, sanitary, and affordable HOME-Assisted Unit upon
completion of the Work, and that tenants not be economically displaced,
(e) The National Environmental Policy Act, 42 U.s.C, 4321 et seq. (1969).
(f) The Lead-Based Paint Poisoning Prevention Act, 42 U,S,C, 4821 et seq., and
all lead-based paint provisions of the HOME Regulations.
(g) All requirements set forth i? the HOME Regulations,
3.18. Conveyance of the Premises. Except for any lien or secondary interest of the Senior
Lender and as otherwise provided herein, Borrower shall not mortgage, assign, convey,
sell, refinance, ground lease, or otherwise dispose of, transfer, or encumber all or any part
of the Premises, any interest in the Premises, or the income stream from the Premises
without Lender's prior written consent, which shall not be unreasonably withheld.
3,19. Leasing. Before executing any Lease, Borrower shall submit to Lender for Lender's
approval a copy 'of the form lease Borrower plans to use and the economic terms for leases.
Once Borrower's lease form and economic terms are approved by Lender, Borrower shall
not materially change the form and shall not execute any Lease that materially differs
from the form or economic terms without Lender's prior consent. No Lease shall have a
term in excess of one year, and Borrower shall not enter into a Lease unless the tenant is
reasonably expected to actually occupy the leased premises. Borrower shall at all times
promptly and faitp.fully perform, or cause to be performed, all of the landlord's covenants,
~
conditions, and agreements contained in all Leases, All HOME-Assisted Units shall be
leased pursuant to a written lease complying with the' HOME Regulations which shall
include a HOME addendum thereto,
3,20. [Intentionally omitted.]
3.21. Notice of Adverse Action, Borrower will promptly advise Lender in writing and
provide it with a copy of all litigation, regardless of amount, affecting Borrower or the
Premises and all complaints, notices of Requirement violations, and charges from any
Public Body relating to the Premises.
3,22. Liens, Without Lender's prior consent, Borrower shall not grant or permit any lien
or security interest on the Collateral other than: (a) a lien for ad valorem taxes not yet due
and payable on the Premises; (b) inchoate mechanic's and materialmen's lien rights; (c) any
permitted title exception in the Security Deed and (d) any lien or security interest of Senior
Lender, If any other lien or claim of lien is placed or filed against the Premises, Borrower
shall promptly notify Lender and within 15 days of its receipt of notice of such lien remove
it or cause it to be removed. Borrower shall, however, have the right to contest any such
claim of lien if it does so diligently, in good faith, and without prejudice to Lender, anq (if
required by Lender) it provides the bond or other security satisfactory to Lender to protect
Lender's interest.
3.23, LIntentionally omitted.}
3,24, Title Policy Endorsements. Upon Lender's request, Borrower shall promptly obtain
at its sole cost and deliver to Lender any endorsement to Lender's title insurance policy
that Lender reasonably deems necessary or-desirable,
3,25, Casualties and Condemnation, (a) Borrower shall give Lender prompt written notice
of any damage to the Premises or the institution of any proceedings for eminent domain or
for the condemnation of all or part of the Premises (along with a deed in lieu of
condemnation, collectively referred to as "condemnation"), As additional collateral,
Borrower hereby assigns to Lender (subject to Senior Lender's interest in the same) all
insurance proceeds on the Premises and all causes of action, claims, compensation, awards,
and recoveries for any damage to all or any part of the Premises or for any loss or
diminution in value of the Premises resulting from a casualty or condemnation
(collectively, the "Proceeds"), Borrower shall execute and deliver such instruments as may
be requested by Lender, from time to time, to confirm the foregoing assignment to Lender
of the Proceeds. Borrower hereby appoints Lender as its attorney-in-fact (which power of
attorney is irrevocable, shall be deemed coupled with an interest, and shall survive the
voluntary or involuntary dissolution of Borrower), with full power of substitution to settle
for, collect, and receive any such Proceeds from the parties paying them. Subject to any
rights of Senior Lender, all Proceeds shall be paid to Lender, and, if Borrower receives any
Proceeds, it will promptly remit them to Lender without demand or request from Lender,
Lender may participate in any suits or proceedings relating to any Proceeds and may join
with Borrower in adjusting any loss covered by insurance relating to the Premises, and
Borrower shall from time to time deliver to Lender any instruments required to permit
such participation.
(b) Lender shall first apply any Proceeds it receives to the payment of all of its
reasonable out-of-pocket costs and expenses (including attorney's fees) incurred in
obtaining those sums (with the remainder referred to as the "Net Proceeds"). In its
absolute discretion and without regard to the adequacy of its security, Lender may then
apply the Net Proceeds either: (1) to the payment of any amount owed under the Loan
Documents in whatever order Lender determines in its absolute discretion, with any
remainder being paid to Borrower; or (2) to Borrower for rebuilding, restoration, or repair
(collectively in this section, "repair") of the Premises with any remainder being applied by
Lender for payment of any amount owed under the Loan Documents in whatever order
Lender determines in its absolute discretion,
Lender will not make any Net Proceeds available to Borrower to repair the
Premises if: (1) an Event of Default has occurred and is continuing; or (2) in the sole and
reasonable judgment of Lender, the Net Proceeds are less than the projected cost of the
repair, unless Borrower has deposited with Lender an amount equal to the difference
between the Net Proceeds and the projected cost. If either such requirement is not
satisfied, Lender may at its option terminate this Agreement and declare the entire
outstanding principal balance of the Loan and all accrued and unpaid interest and any
other amount owed under the Loan Documents to be immediately due and payable. In
such case, if Borrower fails to pay such debt in full within 15 days of receipt of such notice
from Lender, Lender may apply all or part of the Net Proceeds to the amounts owed under
the Loan Documents in whatever order Lender determines in its absolute discretion with
any remainder being paid to Borrower and any deficiency being paid by Borrower to
Lender. Any reduction in Borrower's debt resulting from Lender's application of the Net
Proceeds shall take effect only when Lender actually receives the Net Proceeds, and, in any
event, Borrower shall not be excused from paving the unpaid portion of any debt owed
under the Loan Documents.
(c) If the Premises are partially or totally damaged or destroyed by fire or any
other cause or if a condemnation only relates to part of the Premises and if Lender decides
to make available to Borrower the Net Proceeds for repair, Lender shall notify Borrower of
that decision. If Lender does so, Borrower shall immediately proceed with the repair of the
Premises and diligently pursue the work to completion, at Borrower's cost and expense and
regardless of whether the Net Proceeds are sufficient for the purpose, In the case of a
casualty, Borrower shall repair the Premises as nearly as possible to their value, condition,
and character immediately before such casualty. In the case of a partial condemnation,
Borrower shall repair the remaining p'art of the Premises to an architectural whole, as best
it can under the circumstances. In either case, all work shall be in accordance with plans
and specifications subject to Lender's prior approval, which approval will not be
unreasonably withheld or delayed. If the Net proceeds are made available to Borrower,
Lender will disburse them to Borrower in accordance with the draw procedures contained
in Article 4.
3,26. Management of Premises. The Premises shall be managed in a professional
manner, Borrower has executed or will execute an agreement with Manager for the
operation, management, and supervision of the Premises. That agreement and any other
agreement relating to the management or leasing of the Premises shall not be executed,
modified, extended, or terminated without Lender's prior approval which approval will not
be unreasonably withheld. If Borrower violates the requirements of this section or there is
a default under any management contract or leasing agreement by Manager, which default
is not cured within any applicable cure or grace period, Lender shall have the right to
direct Borrower to terminate such management contract or leasing agreement upon 30-
days notice and to direct Borrower to retain a new management agent or leasing agent,
Borrower shall maintain the Premises in good condition and repair and shall promptly
repair, restore, replace, or rebuild any part of the Premises that is in disrepair. Borrower
shall comply with any maintenance standards imposed by the Act and the HOME
Regulations. Borrower shall not commune or suffer any waste to the Premises. Borrower
shall cause the Premises and all equipment and material stored or located at the Premises
to be secured and protected against vandalism and unauthorized use and possession,
3,27. Payment of Taxes. Utilities. Etc. Borrower shall pay when due all Taxes, utility
charges that may become a charge or a lien against the Premises, all other assessments or
charges of a similar nature, and all assessments payable pursuant to any restrictive
covenants and conditions, whether public or private, affecting the Premises.
3.28. Zoning. Borrower shall comply with all existing and future zoning Requirements.
Without Lender's prior written consent Borrower shall not initiate, make, join in, consent
to, or acquiesce in any change in the zoning or conditions of use of the Premises, If the use
of all or any part of the Premises becomes a nonconforming use under the zoning
Requirements, Borrower shall not cause or permit such use to be discontinued or
abandoned without Lender's prior written consent,
3.29. Organization Actions. Borrower shall not materially modify or amend its
partnership agreement or any certificate of partnership without Lender's prior written
consent, which consent will not be unreasonably withheld. The Managing General Partner
shall not materially modify or amend its articles of incorporation or bylaws without
Lender's prior written consent, which consent will not be unreasonab~y withheld.
3,30, IIntentionallyomitted,}
3,31. Mfirmative Marketing. Borrower shall maintain and abide by an affirmative
marketing plan, a copy of which is attached as Exhibit F, The plan shall be subject to the
prior approval of Lender and, among other things, shall be designed to attract tenants and
management employees from all racial, ethnic, and gender groups and shall require all
press releases and written materials advertising or promoting the Improvements to include
the equal housing opportunity logo or slogan, when feasible. Borrower shall maintain
documents and records evidencing its compliance with the plan and the affirmative
marketing requirements imposed by the HOME Regulations.
3,32. Assignment of Contract Rights. As additional security for Borrower's obligations
under this Agreement and the other Loan Documents, Borrower assigns to Lender all of
Borrower's rights, title, and interest in and to Contract Documents, This Assignment is
intended to be an absolute, unconditional; and present assignment, subject only to rights of
Senior Lender in the Contract Documents. The assigned rights include all of Borrower's
right and title to: (a) modify the Contract Documents; (b) terminate the Contract
than 24-hours notice from Lender, Borrower shall make such books, records, and accounts
available to Lender for inspection or independent audit.
3.11. Construction and Reports, As soon as available, but no later than 120 days after
the end of each fiscal year of Borrower, beginning with the fiscal year in which the Work is
completed, Borrower will furnish Lender with annual audited financial statements and
operating statement covering the operation of the Premises as at the end of the fiscal year,
All financial statements shall compare the actual results with Borrower's operating budget
for the year, shall be prepared by a firm of independent certified public accountants
satisfactory to Lender, and shall be certified as correct by Borrower and such public
accountants, Borrower's financial statements shall include a certification by Borrower that
no default exists under any of the Loan Documents and any other information Lender
reasonably requests,
At Lender's request, Borrower will also furnish Lender the following:
(a) Within 45 days after the end of the first three-quarters in each fiscal year, a balance
sheet and income statement as at the end of such quarter and for the elapsed portion of the
year ended with the last day of such quarter.
(b) Within 30 days after the end of each quarter, beginning with the first full quarter
after the date the Work is completed, a rent roll for the Improvements, stating for each
Lease: the apartment number, the tenant's name, the beginning and ending date of the
Lease, the monthly rent, the date through which Borrower has received rent, and the
amount of any security deposit, Lender may request an interim rent roll or copies of
Leases at any time, and Borrower shall produce the requested item or items within 10
days,
(e) Within 120 days after the end of each fiscal year, a cash flow projection for the
Premises for the remainder of the Loan term.
(d) At least 45 days before the end of each fiscal year, an annual operating budget for
the Premises for the coming year,
(e) Any other financial or leasing information, reports, or statements, relating to the
business, operations, or condition of Borrower.
Upon request, Borrower shall furnish Lender with copies of any documents and
convenient facilities for the audit and verification of any report or financial statement
Borrower has provided Lender, All financial statements shall be prepared in accordance
with generally accepted accounting principles, consistently applied and shall be certified by
Borrower's Managing General Partner's president or chief financial officer to be complete
and correct in all material respects and to present fairly the financial position and results
of Borrower.
3,12. Additional Acts, At or before Closing, Borrower shall provide Lender with an
opinion letter of its counsel, opining as to Borrower's formation, organization, and other
legal matters relevant to the Loan and the Collateral, the form and substance of which
Documents; and (c) waive or release the observance or performance of any obligation or
condition of the Contract Documents, Borrower represents and warrants that there is no
other assignment of any rights under the Contract Documents to any other Person except
Senior Lender. Borrower shall not assign any rights under the Contract Documents
without Lender's prior consent, Borrower will: (w) fulfill, perform, and observe every
condition and covenant of Borrower contained in any of the Contract Documents; (x) send
prompt notice and a copy to Lender of any claim of default under any of the Contract
Documents; (y) enforce the performance of the Contract Documents; and (z) appear in and
defend any action against it in any way connected with any of the Contract Documents,
If there is an Event of Default, Borrower appoints Lender as its attorney-in-fact to
take such actions, execute such documents, and perform such work, with or without taking
possession of the Premises, as Lender deems appropriate in exercising its rights and
remedies. Without limiting the generality of the foregoing, the power shall include the
power to sue on the Contract Documents and to seek. approvals from any Public Body
required for the completion of the Work, in the name of Borrower or Lender or both. This
power of attorney shall be irrevocable and coupled with an interest and shall terminate
only upon the payment of all sums due Lender by Borrower, Borrower hereby releases
Lender and any other person or entity acting for Lender under this power from all liability
resulting from the exercise of this power of attorney or any act or omission under the
power, Borrower indemnifies Lender against all liability, loss, claim, or damage that
Lender may incur under this assignment or any other Contract Document or resulting
from any act or omission of Lender under this assignment or any other Contract Document,
except for a liability, loss, claim, or damage resulting from Lender's intentional
misconduct. This indemnification obligation shall survive the execution of this Agreement.
3.33. Georgia Drug-Free Workplace Act, Until the Loan is paid in full, Borrower shall not
engage in the unlawful sale, manufacture, distribution, dispensation, possession, or use of
a controlled substance or marijuana during the performance of any of its obligations under
this Agreement and shall comply with the Georgia Drug-Free Workplace Act, O,C.G,A. 50-
24-1 et seq. Futher, Borrower shall provide a drug-free workplace for its employees and
shall secure from the General Contractor and any other contractor or subcontractor it hires
a certification in substantially the following form: As part of the agreement with Olde
Town Associates, L.P., [insert name of contractor or
subcontractor] certifies that it will provide a drug-free workplace for its employees during
"the performance of that agreement, in accordance with and pursuant to O,C.G,A. 50-24-
3(b)(7).
Article 4. Disbursement of Loan Proceeds.
Borrower must satisfy all conditions and requirements in this Agreement before
Lender has any obligation to disburse any Loan proceeds.
4.01. Method of Disbursement, The following draw procedures shall apply:
(a) The proceeds of the Loan shall be allocated in the following manner: The
first allocation in the amount of $568,500, which is expected to be funded from Lender's
Fiscal Year 1998 allocation of HOME funds, shall be made available for disbursement on
the Effective Date. The second allocation in the amount of $568,500, which is expected to
be funded from Lender's Fiscal Year 1999 allocation of HOME funds, shall be made
available for disbursement, subject to the availability of appropriations, on the later of (i)
the date when Lender's Fiscal Year 1999 allocation of HOME funds shall become available
to Lender or (ii) May 1, 1999. Advances of Loan proceeds at any time shall be limited to
those funds then-available for disbursement pursuant to this paragraph 4,Ol(a),
(b) Draw Request. As a condition to any disbursement of Loan proceeds
allocated above, Borrower shall fully complete, sign, and deliver to Lender or its authorized
representative under the Intercreditor Agreement a Draw Request prepared in accordance
with the Intercreditor Agreement. Lender shall have authority to deny any Draw Request
which does not comply with the Intercreditor Agreement to the satisfaction of the State
and Lender.
(c) Advances, Advances of the Loan proceeds shall be made by the Lender in
accordance with the lntercreditor Agreement.
Article 5. Events of Default,
5,01. Events of Default, Each of the following shall constitute an "Event of Default"
under this Agreement:
(a) a failure to pay when due any amount owed under any of the Loan
Documents, unless the failure is cured within any applicable cure or grace period; or
(b) any warranty or representation in any of the Loan Documents or any other
writing submitted to Lender in connection with the Loan is incorrect or untrue; or
(c) an assignment for the benefit of creditors by Borrower or any general partner
of Borrower the appointment or the filing of a petition for the appointment of a receiver,
liquidator, or trustee for Borrower or any general partner of Borrower or for a substantial
part of Borrower's properties or a substantial part of the properties of any general partner
of Borrower, unless the petition for the receiver, liquidator, or trustee is filed by someone
other than Borrower or the general partner, in which event Borrower or the general
partner (as the case may be) will have 60 days within which to contest such appointment;
the filing of a petition for bankruptcy, reorganization, adjustment of debt, dissolution,
liquidation, or arrangement, pursuant to the Federal Bankruptcy Code or any similar
statute by, on behalf of, or against Borrower or any general partner of Borrower or an
adjudication or admission that Borrower or any general partner of Borrower is bankrupt,
insolvent, or unable to pay its debts as they fall due, but, in the case of an involuntary
petition, Borrower or the general partner (as the case may be) shall have 60 days within
which to have the petition dismissed; or
(d) filing of a notice of intent to dissolve, the dissolution, liquidation,
termination, or partition of Borrower or its Managing General Partner; or
(e) unless approved by Lender in its sole discretion, any sale, refinancing,
transfer, leasing (except in the ordinary course of operating the Premises as a residential
rental business in accordance with this Agreement), or encumbrance of the Premises, the
rents, profits, and issues of the Premises, or any other Collateral; or
(f) Borrower's execution of any conditional contract of sale, chattel mortgage, or
other security agreement, coyering any material, fixture, equipment, appliance, article, or
personal property to be incorporated in or used in connection with the Improvements
(collectively, "construction materials," which term does not include articles that are owned
by other parties and made available to Borrower pursuant to service contracts or leases), or
Borrower's or a third party's filing of a financing statement listing construction materials
as collateral, or Borrower's title to any construction materials upon delivery to the
Premises (except for equipment delivered to the Premises under leases or service contracts)
is not free, clear, and unconditional, unless Borrower cures any such act within 20 days of
written notice from Lender or provides Lender within 15 days of demand the instrument or
agreement under which Borro,",:er claims title to any such construction materials; or
(g) unsatisfactory progress in the Work in accordance with the Completion
Sched~le; abandonment of the Work or the Premises; failure to carry - on the Work for 5
consecutive Business Days; Borrower's failure or, in Lender's reasonable judgment,
inability to complete the Work by the Completion Date; or
(h) any of the materials, fixtures, equipment, appliances, or articles used in the
Work or to be used in the operation of the Project depart in any material respect from the
Plans and Specifications or Borrower falls to correct any defect in construction within a
reasonable time after discovery of the defect; or
(i) Borrower, the Premises or the Work fails to comply with the Act or the
HOME Regulations; or
(j) any change in the identity, ownership, or control of Borrower or the
Managing General Partner, including the termination of the Managing General Partner as
a general partner of Borrower without Lender's prior written consent, except that
Borrower may sell limited partnership interests without Lender's prior consent; any
change in the management of the Premises without Lender's prior written consent; or
Borrower ceases doing business; or
(k) Lender or any representative of Lender is'denied access to the Premises or is
not permitted to inspect the Improvements, the Work, any materials, .fixtures, and articles
used or to be used in the Work or is not permitted to examine all plans, shop drawings, and
specifications that relate to the Work, or Borrower fails to furnish to Lender or its
authorized representative within a reasonable time following Lender's request (but not to
exceed 20 days) copies of such plans, drawings, and specifications; or
(1) Borrower's use of any Loan proceeds for a purpose other than the purpose for
which the Loan is being made, or Borrower's assignment of any interest in advances to be
made under this Agreement; or
(m) the filing of any lien for labor, materials, Taxes (except for ad valorem taxes
not yet due and payable), water or sewer bills, or otherwise against the Premises, unless it
is totally released and removed as a lien against the Premises (by payment, bonding, or
otherwise) within 30 days after Borrower receives actual notice of the lien, unless Borrower
is challenging the amount, validity or applicability of such lien in accordance with the
requriements of section 3,22; or
(n) an attachment, execution, levy, or other judicial seizure of or affecting the
properties and assets of Borrower or any general partner of Borrower or affecting the
Premises; or
(0) Borrower's failure to satisfy any condition to the receipt of a Loan
disbursement for a period of 30 days; or
(P) Borrower's failure to pay any Taxes, including assessments for public
improvements or benefits or water or sewer bills for the Premises, if such failure is not
cured within 30 days of the due date for any such payment, unless Borrower challenges the
amount, validity or applicability of such Tax(es) in accordance with the requirements of
section 3,27; or
(q) any action by a Public Body that would materially and adversely affect the
use of the Premises for its intended purposes; or
(r) Borrower contests the validity or enforceability of any Loan Document, or
Borrower denies that it has further liability under any Loan Document;
(s) in Lender's reasonable judgment, any material adverse change III the
business or financial condition of Borrower or any general partner of Borrower; or
(t) actual or threatened waste of the Parties or the demolition or material
alteration of the Premises without the Lender's prior consent; or
(u) Borrower's failure to comply with and perform every other prOVISIOn or
satisfy any other condition of this Agreement (other than ones specifically addressed above
in this section), unless the failure is cured within 20 days after Lender gives Borrower
written notice of the failure or, if the nature of the default is such that, as a practical
matter, it cannot be cured within 20 days, the cure period shall be 90 days, so long as
-Borrower begins the cure within the 20-day period following receipt of notice from Lender
and diligently and continuously pursues it to completion within the 90-day period,
5.02 Cross Defaults,
this Agreement:
The following shall also constitute an Event of Default under
(a) Default under Loan DoculIlents; a default or event of default under any of
the other Loan Documents, unless cured within any applicable cure or grace period;
(b) Default under Third-Party Agreement; any default or event of default under
any instrument, deed, or agreement of Borrower to or with any third party, including
Senior Lender, which default would authorize the third party's immediate acceleration of
any debt or foreclosure of Borrower's interest in the Premises; and
(c) Default under Other Agreement with Lender; any default or event of default
under any other instrument, deed, or agreement of Borrower to or with Lender, unless
cured within any applicable cure or grace period.
Article 6, Remedies Of Lender,
6,01. In General. Upon the occurrence of an Event of Default, Lender shall have the right
to accelerate the maturity of the Note, declare all amounts required to be paid under the
other Loan Documents immediately due and payable, foreclose or exercise the power of sale
under the Security Deed, and exercise any other right or remedy available to it under law
or any of the Loan Documents.
6,02, Payment of Borrower's Obligations. If Borrower falls to pay any obligation under
this Agreement or the other Loan Documents when due (other than a payment of interest
or principal under the Note), Lender may (but has no obligation to) pay the amount that is
due without thereby waiving the Event of Default or releasing Borrower from its
obligation, If Lender makes any such payment, Borrower shall promptly on demand
reimburse Lender for the amount paid by Lender, If Borrower fails to reimburse Lender,
Lender may add the amount of the payment it made to the outstanding principal balance of
the Note (even if such addition results in the outstanding principal balance exceeding the.
face amount of the Note), and, if Lender does so, all such amounts shall bear interest at the
Default Rate (as defined in the Note) from the date of Lender's payment until reimbursed
in full and shall be secured by the Security Deed and any other Collateral.
6.03, Lender's Right to Enter and Complete Work. In addition to any other rights or
remedies available to Lender, upon the happening of an Event of Default, Lender may
demand that Borrower vacate the Premises, and Borrower shall do so promptly upon
receipt of such demand. Lender shall also have the right, and Borrower hereby gives
Lender an irrevocable license, to enter the Premises and perform any and all work and
labor necessary to complete the Work substantially in accordance with the Plans and
Specifications or in accordance with reasonable business judgment, In its discretion,
Lender may employ watchmen to protect the Premises. All sums Lender expends for such
purposes shall be deemed both to have been paid to Borrower and to be secured by the
Security Deed.
Borrower hereby irrevocably appoints Lender its attorney-in-fact with full power of
substitution to complete the Work in Borrower's name and do any other reasonable act
related to that end, including the following: (1) to use any funds of Borrower, including any
amount held in escrow or reserve, any capital contribution to the Borrower, and any
unadvanced Loan proceeds; (2) to make such additions, changes, and corrections in the
Plans and Specifications as Lender deems necessary or desirable; (3) to employ agents,
contractors, subcontractors, architects, and inspectors; (4) to pay, settle, or compromise any
existing or future bills and claims, including ones that are or may become liens against the
Premises or that may facilitate the completion of the Work or the clearance of title to the
Premises; or (5) to execute all applications and certificates in Borrower's name as required
by any construction contract or otherwise and to do any and every act with respect to the
Work that Borrower might do. It is understood and agreed that this power of attorney
shall be- deemed a power coupled with an interest that cannot be revoked or terminated by
death or otherwise, except with Lender's prior written consent, As attorney-in-fact, Lender
shall also have the power to prosecute and defend all actions or proceedings arising in
connection with the construction of the Improvements and to take such action and require
such performance as it deems necessary or desirable. Borrower hereby assigns and
quitclaims to Lender all sums to be advanced under this Agreement, including any
retainage and all sums in escrow or held in a reserve, conditioned upon the use of those
sums for the completion of the Work and the performance of Borrower's obligations under
the Loan Documents. If the completion of the Work requires a larger sum than the
undisbursed Loan proceeds and Equity Contribution (if any), Lender shall have the right
(but not the obligation) to disburse additional funds as needed to complete the Work. All
funds disbursed by Lender to complete the Work, except any capital contribution to the
Borrower, shall be deemed disbursed to Borrower and shall be secured by the Loan
Documents and any collateral for repayment of the Loan, notwithstanding that the total
amount of all disbursements exceeds the maximum amount of the Loan set forth in this
Agreement.
Neither Lender's entering the Premises in order to complete the Work, nor the
exercise of its license or power-of-attorney, will exclude Borrower from possession, custody,
ownership, or control of the Premises or make Lender a mortgagee in possession,
6.04. Remedies Cumulative. The rights and remedies of Lender granted and arising
under the other Loan Documents shall be separate, distinct, and cumulative of the powers,
remedies, and rights granted in this Agreement and all other rights and rerp.edies Lender
may have in law or equity, and none of them shall be to the exclusion of the others. All of
them are cumulative to the remedies for collection of debt, enforcement of rights under
security deeds, and preservation of security as provided at law. No act of Lender shall be
construed as an election to proceed under anyone provision of the Loan Documents to the
exclusion of any other provision or as an election of remedies to the bar of any other
remedy allowed at law or in equity.
Article 7, General and Miscellaneous Provisions,
7,01. No Advance Constitutes a Waiver, No advance of Loan proceeds shall constitute
Lender's approval or acceptance of the. Work done before the advance or a waiver of any
requirements for or conditions to Lender's obligation to make future advances. If Lender
waives the satisfaction of any requirement for or condition to its obligation to make a
particular disbursement or does not insist upon strict compliance with the provisions of
this Agreement, that shall not preclude Lender from insisting upon strict compliance in the
future, from refusing to make a future advance, or from declaring an Event of Default.
Such a waiver shall not be deemed a waiver of any existing Event of Default or of the
satisfaction of the requirement or condition for any subsequent advance and shall not
obligate Lender to make any other disbursement, unless Borrower satisfies all
requirements for and conditions to the subsequent disbursement.
7.02. Rights of Third Parties, All conditions on Lender's obligations, including the
obligation to make advances, are imposed solely and exclusively for Lender's benefit. No
other Person shall under any circumstances be deemed a beneficiary of any such condition,
any of which Lender may enforce or freely waive in whole or in part at any time in its sole
discretion. In particular, Lender makes no representations and assumes no obligations to
third parties concerning the quality of the Work or the absence of defects in the Premises.
Borrower shall indemnify Lender from any liability, claim, loss, or expense resulting from
disbursement of the proceeds of the Loan or from the condition of the Premises, whether
related to the quality ofthe Work or otherwise and whether arising during or after the
term of the Loan or from any breach of this Agreement or any of the other Loan Documents
by Borrower. This indemnification provision s hall survive the repayment of the Loan and
the termination of this Ag:r;eement and shall continue in full force and effect so long as the
possibility of such liability, claim, loss, or expense exists,
7.03. All Matters Satisfactory to Lender. All actions taken in connection with the Loan
and transactions contemplated by this Agreement, all surveys and documents required by
the Loan Documents and the persons responsible for the execution and preparation of
them, the contractors and all subcontractors, all sureties, guarantors, insurers, the form of
the construction contracts, and all subcontracts, leases, bonds, guaranties, and policie~ of
insurance shall be satisfactory to Lender. Borrower shall provide Lender with copies (or
certified copies, if requested) of all documents which it may request, Notwithstanding the
foregoing, the satisfaction of Senior Lender with any such matters shall be deemed to
constitute the satisfaction of Lender with such matters.
7,04. Payment of Construction Costs. Lender has no obligation to any contractor,
subcontractor, or materialman used in connection with the Work and has no obligation to
determine whether Borrower has used or will use the proceeds of the Loan for the payment
of their bills incurred by Borrower in connection with the Work. Payment of any such bills
is Borrower's sole responsibility, and, with respect to any money advanced under this
Agreeme1}t, Lender's sole obligation is to advance the proceeds of the Loan subject to and in
accordance with this Agreement and the [Intercreditor Agreement]. Upon Lender's
request, Borrower shall include in the Construction Contract and shall cause the General
Contractor to include in any subcontract or purchase order a waiver of any right to seek
payment or other redress from Lender under any circumstance,
7.05. No Agencv, Lender is not the agent or representative of Borrower, and Borrower is
not the agent or representative of Lender. Nothing in this Agreement or the acts of the
parties is intended to create a partnership or joint venture between Borrower and Lender, '
and nothing in this Agreement shall be construed to create such a relationship between
Borrower and Lender, Nothing in this Agreement shall be construed to make Lender liable
to anyone for goods delivered to or labor or services performed upon the Premises or for
debts or claims of Borrower, Nothing in this Agreement is intended to create, and it shall
not be construed to create, a relationship ex contractu or ex delicto between Lender and
anyone supplying labor or materials or services for or to the Premises or Borrower.
7.06. Sums Held by Lender. Except as otherwise agreed or required by law, Lender shall
have no obligation to pay interest on any sums Borrower may deposit from time to time
with Lender under this Agreement.
7,07. Assignment. Without Lender's prior written consent, Borrower may not assign this
Agreement or any of its rights or obligations under it. Without notice to or consent from
Borrower, Lender may sell participation interests in or transfer the Loan to a subsidiary or
affiliate of Lender or to a Federal Reserve Bank or to another financial institution. If,
Lender does so and any Loan participant or transferee shall reasona~ly require any
additional items from Borrower, Borrower shall use all reasonable efforts to obtain and
deliver such items; provided, however, Borrower shall not be required to incur any
additional liability in connection with such a request, If a Loan participant or transferee
requires an estoppel letter from Borrower, Borrower shall execute an estoppel letter setting
forth: (a) the unpaid principal balance of and accrued but unpaid interest under the Note;
(b) any offsets or defenses that exist or are claimed by Borrower; and (c) any other matters
reasonably requested by Lender or such participal1t or transferee, In the event of a
transfer or assignment of all Lenders' interest, Lender shall be released of all liability to
Borrower under the Loan Documents.
7.08. Successors and Assigns, All references to the parties in this Agreement shall
include the party's heirs, executors, administrators, legal representatives, successors, and
permitted assigns of such party, and this Agreement shall be binding upon and inure to the
benefit of the parties and their respective heirs, executors, administrators, legal
representatives, successors, and permitted assigns.
7,09. Section Headings, The section headings in this Agreement are for convenience only
and shall not affect any of the terms of this Agreement,
7.10, Invalid Provisions, If performance of any provision exceeds the limit of validity
prescribed by law at the time of such performance, then ipso facto the obligation to be
performed shall be reduced to the limit of such validity, If any of the provisions of this
Agreement, or the application of it to any Person, shall to any extent be invalid or
unenforceable, then the remainder of this Agreement or the application of such provision or
provisions to Persons other than those as to whom or which this Agreement is held invalid
or enforceable shall not be affected, and every provision of this Agreement shall be valid
and enforceable to the fullest extent permitted by law,
7.1 Number and Gender, Whenever the singular or plural number or the masculine,
feminine, or neuter gender is used, it shall include the other, if the context requires,
7.12. Amendments. Neither this Agreement nor any provision may be changed, waived,
discharged, or terminated orally, but only by an instrument in writing signed by the party
against whom enforcement of the change, waiver, discharge, or termination is sought.
7.13. Notices. (a) All notices and other communications required or permitted under this
Agreement shall be in writing and addressed to the other party at the address set forth in
this section. All such notices shall be deemed to have been given and received as follows: 3
Business Days from the date of deposit in the U.S, mail, certified mail, return receipt
requested, postage prepaid; when hand delivered by the party or a courier service; or when
sent by fax. When notices under this Agreement are sent by fax, a courtesy copy of such
notice or other communication shall be sent by mail within one Business Day after the
original notice is sent, but the original notice shall control with respect to when the notice
is deemed given and received, and the failure to send such courtesy copy shall not affect
the validity of the original notice, The following addresses and the fax numbers shall be
used:
If to Borrower:
Olde Town Associates, L,P.
c/o White Oak Olde Town, Inc,
322 Banyan Boulevard
West Palm Beach, FL 33401
Attention: Paula J. Ryan
Fax No,: (561) 838-8887
If to Lender:
Augusta, Georgia
530 Greene Street
Augusta, Georgia 30911
Attention: Charles R. Oliver
Fax No,: (706) 821-2819
(b) Borrower or Lender may change the address to which notices are to be sent
or the fax number to be used by giving the other party 10 Business Days written notice of
the change.
7,14. Governing Law, This Agreement shall be construed and enforced in accordance
with Georgia law.
7.15, Time is of the Essence, Time is of the essence of this Agreement,
7,16, Notice to Lender of Claim. Borrower shall not start any lawsuit against Lender for
any claim arising from this Agreement unless Borrower first gives Lender notice,
specifically setting forth the claim of Borrower, within two years after Borrower first
becomes aware of the event or omission which Borrower alleges gives rise to such claim, ,
Borrower's failure to give such notice shall constitute a waiver of any such claim,
Borrower hereby irrevocably and unconditionally waives any and all rights to
trial by jury in any action, suit, or counterclaim, arising in connection with or
out of this Agreement or the other Loan Documents.
7.17, Force Maiuere, If Borrower is hindered or delayed in, or prevented from,
performing the Work due to any strike, lockout, labor dispute, act of God, inability to
obtain labor or materials on a timely basis, government restriction, civil commotion, fire,
casualty, or other event beyond the direct control of Borrower (but specifically excluding
any financial difficulties of Borrower), then the Completion Schedule shall be revised to
extend the dates applicable to the affected Improvements for a period equal to the period of
delay, if: (a) Borrower has made adequate provision, acceptable to Lender, for the
protection of the improvements and materials stored on site against deterioration and
against loss or damage and theft during any such period of delay; and (b) Borrower
IN WITNESS WHEREOF, Borrower and Lender have executed and sealed this
Agreement as of the Effective Date,
OLDE TOWN ASSOCIATES, L.P., a Georgia limited
partnership
By:
c" its Managing
By:
[CORPORATE SEAL]
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Duly executed, this aday of 'Ya<.e-.N\ be..~
, 1998.
AUGUSTA, GEORGIA
By and throu h the Augusta-
Richmond 0 ty C 'ssion
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EXHIBIT" A "
LEGAL DESCRIPTION 20 & 22 WALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "B" ON AN ALTAlACSM LAND TITLE SURVEY DATED NOVEMBER 17,
1998, LAST REVISED DECEMBER 7,1998, PREPARED BY W.R. TOOLE ENGINEERS,
INe. AND CERTIFIED BY STEVEN M. HARDY, GEORGIA REGISTERED LAND
SURVEYOR NO. 2662 AND HAVING THE FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT-OF-WAY OF SIBLEY STREET (RIW
V ARIES)AND WALKER STREET (RIW VARIES) AT A #5 REBAR FOUND, AND THE
TRUE POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE
SOUTHERN RIGHT -OF-WAY OFW ALKER STREET SOUTH 66 DEGREES 35 MINUTES
34 SECONDS EAST A DISTANCE OF 40.01 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF 14 & 16 WALKER STREET SOUTH
22 DEGREES 56 MINUTES 15 SECONDS WEST A DISTANCE OF 127,54 FEET TO A
POINT; THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP SEIGLER
NbRTH 67 DEGREES 43 MINUTES 04 SECONDS WEST A DISTANCE OF 40.03 FEET TO
A POINT; THENCE TURNING AND CONTINUING ALONG THE EAST RIGHT -OF- WAY
OF SIBLEY STREET NORTH 22 DEGREES 57 MINUTES 00 SECONDS EAST A
DISTANCE OF 128.32 FEET TO THE TRUE POINT OF BEGINNING.
LEGAL DESCRIPTION 14 & 16 WALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "A" ON AN ALTAJACSM LAND TITLE SURVEY DATED NOVEMBER 17,
1998, LAST REVISED DECEMBER 7,1998, PREPARED BY W,R, TOOLE ENGINEERS,
~C. AND CERTIFIED BY STEVEN M, HARDY, GEORGIA REGISTERED LAND
SURVEYOR NO. 2662 AND HAVING THE FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT -OF - WAY OF SIBLEY STREET (RIW V ARIES)
AND WALKER STREET (RIW VARIES) AND CONTINUING EAST ALONG THE
SOUTHERN RIGHT-OF-WAY OF WALKER STREET 40.01 FEET TO A #5 REBAR
FOUND, AND THE TRUE POINT-OF-BEGINNING; THENCE TURNING AND .
CONTINUING ALONG THE SOUTHERN RIGHT -OF- WAY OF WALKER STREET SOUTH
66 DEGREES 38 MINUTES 45 SECONDS EAST A DISTANCE OF 39.95 FEET TO A 1/2
INCH OPEN TOP FOUND, THENCE TURNING AND CONTINUING ALONG THE LINE
OF NIP PRICEY SOUTH 22 DEGREES 55 MINUTES 04 SECONDS WEST A DISTANCE
OF 128.87 FEET TO A POINT; THENCE TURNING AND CONTINUING ALONG THE
LINE OF NIP SEIGLER NORTH 64 DEGREES 44 MINUTES 13 SECONDS WEST A
DISTANCE OF 40.02 FEET TO A POINT; THENCE TURNING AND CONTINUING
. ,
ALONG THE LINE OF 20 & 22 WALKER STREET NORTH 22 DEGREES 56 MINUTES 15
SECONDS EAST A DISTANCE OF 127.54 FEET TO THE SOUTHERN RIGHT -OF -WAY
OF WALKER STREET AND THE TRUE POINT-OF-BEGINNING.
LEGAL DESCRIPTION: 101 WATKINS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY, DATED OCTOBER 20, 1998, LAST
REVISED DECEMBER 7,1998 PREPARED BY W.R. TOOLE ENGINEERS, INe. AND
CERTIFIED BY STEVEN M. HARDY, GEORGIA REGISTERED LAND SURVEYOR NO,
2662 AND HAVING THE FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT-OF-WAY OF WATKINS STREET (R/W
VARIES) AND 1ST STREET (RJW VARIES) AT A #5 REBAR SET, AND THE TRUE
POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE NORTH
RIGHT-OF-WAY OF WATKINS STREET NORTH 65 DEGREES 49 MINUTES 34
SECONDS WEST A DISTANCE OF 50.00 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF N/F DR. I.E. CARTER, JR. NORTH
24 DEGREES 17 MINUTES 52 SECONDS EAST A DISTANCE OF 49.92 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F
DOWNTOWN AUGUSTA, INe. SOUTH .65 DEGREES 54 MINUTES 48 SECONDS EAST
A DISTANCE OF 50.17 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE WEST RIGHT-OF-WAY OF 1ST STREET SOUTH 24
DEGREES 29 MINUTES 27 SECONDS WEST A DISTANCE OF 20.76 FEET TO A POINT;
THENCE TURNING AND CONTINUING SOUTH 65 DEGREES 30 MINUTES 33
SECONDS EAST A DISTANCE OF 2.55 FEET TO A POINT; THENCE TURNING AND
CONTINUING SOUTH 24 DEGREES 29 MINUTES 27 SECONDS WEST A DISTANCE OF
29.24FEET TO A POINT; THENCE TURNING AND CONTINUING NORTH 65 DEGREES
30 MINUTES 33 SECONDS WEST A DISTANCE OF 2.55 FEET TO THE TRUE POINT OF
BEGINNING.
LEGAL DESCRIPTION: 305 WALKER STREET
ALL THAT LOT OR PARCEL OF LAND, WITH IMPROVEMENTS THEREON, SITUATE,
LYING AND BEING IN THE CITY OF AUGUSTA, RICHMOND COUNTY, GEORGIA,
FRONTING A DISTANCE OF 60 FEET, MORE OR LESS, ON THE NORTH SIDE OF
WALKER STREET, BETWEEN THIRD AND FOURTH STREETS, -AND EXTENDING
BACK OF EVEN WIDTH, A DISTANCE OF 162 FEET, MORE OR LESS, AND BEING
KNOWN AND DESIGNATED AS LOT NO. 119 ON WILLIAM PHILLIPS' MAP OF THE
CITY OF AUGUST A RECORDED IN THE OFFICE OF THE CLERK OF SUPERIOR
COURT OF RICHMOND COUNTY, GEORGIA, IN REALTY BOOK 18F, PAGE 420.
REFERENCE IS HEREBY MADE TO SAID PLAT FOR A MORE COMPLETE AND
ACCURATE DESCRIPTION AS TO THE METES, BOUNDS AND LOCATION OF SAID
PROPERTY.
2
F:\Documents\PRC\white oak\LEGAL DESCRIPTIONS.COMBINE4.doc
A MORE RECENT PLAT PREPARED BY TOOLE SURVEYING COMPANY FOR OLDE .
TOWN PROPERTIES I, DATED MARCH 16,1989, IS RECORDED IN REALTY REEL 307,
PAGE 713, IN SAID CLERK'S OFFICE.
SAID PROPERTY IS KNOWN AND DESIGNATED AS 305 WALKER STREET
ACCORDING TO THE SYSTEM OF STREET NUMBERING CURRENTLY IN USE IN
AUGUSTA, RICHMOND COUNTY, GEORGIA.
LEGAL DESCRIPTION: 260 REYNOLDS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, AND BEING MORE FULLY SHOWN AND
DESIGNATED ON AN ALTAlACSM LAND TITLE SURVEY DATED 10/9/98 PREPARED
BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SuRVEYOR NO. 2662 AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHWEST RIGHT-OF-WAY INTERSECTION OF 2ND STREET
(RIW VARIES) AND REYNOLDS STREET (RIW VARIES) AND CONTINUING WEST
ALONG THE SOUTH RIGHT-OF-WAY OF REYNOLDS STREET 609.31 FEET:t TO A 5/8
. INCH OPEN TOP FOUND, AND THE TRUE POINT OF BEGINNING; THENCE TURNING
AND CONTINUING ALONG THE LINE OF N/F GAY, SOUTH 24 DEGREES 16 MINUTES
35 SECONDS WEST AS DISTANCE OF 115.11 FEET TO A 5/8 INCH OPEN TOP FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F BATTEY, NORTH 66
DEGREE4S 07 MINUTES 17 SECONDS WEST A DISTANCE OF 25.50 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG AN EXISTING
ALLEY NORTH 03 DEGREES 49 MINUTES 11 SECONDS EAST A DISTANCE OF 43.61
FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG AN
EXISTING ALLEY NORTH 24 DEGREES 12 MINUTES 15 SECONDS EAST A DISTANCE
A DISTANCE OF 74.24 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE SOUTH RIGHT OF WAY OF REYNOLDS STREET SOUTH
65 DEGREES 59 MINUTES 16 SECONDS EAST A DISTANCE OF 40.83 FEET TO THE
TRUE POINT OF BEGINNING AND CONTAINING 0.10 ACRES (4,382.38 SQUARE FEET)
LEGAL DESCRIPTION: 209 TELFAIR STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY DATED OCTOBER 14, 1998, PREPARED
BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662 AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT OF WAY INTERSECTION OF TELFAIR
STREET (R/W VARIES) AND 2ND STREET(RIW VARIES) AND CONTINUING WEST
3
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ALONG THE NORTH RIGHT OF WAY OF TELFAIR STREET 100 FEET :t TO A #5
REBAR FOUND, AND BEING THE TRUE POINT OF BEGINNING; THENCE TURNING
AND CONTINUING ALONG THE NORTH RIGHT OF WAY OF TELFAIR STREET
NORTH 67 DEGREES 38 MINUTES AND 50 SECONDS WEST A DISTANCE OF 36.00
FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE
LINE OF NfF BRANCH, NORTH 22 DEGREES 35 MINUTES 33 SECONDS EAST A
DISTANCE OF 176.31 FEET TO A 3/4 INCH CRIMPED TOP FOUND; THENCE TURNING
AND CONTINUING ALONG THE LINE OF NfF SACCO AND NfF MABEN, SOUTH 69.
DEGREES 04 MINUTES 52 SECONDS EAST A DISTANCE OF 35,79FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF NfF
HARRIS AND NfF CONNELL SOUTH 22 DEGREES 31 MINUTES 09 SECONDS WEST A
DIST ANCE OF 177.20 FEET TO THE TRUE POINT OF BEGINNING AND CONT AIN1NG
0,15 ACRES (6,343.39 SQUARE FEET).
LEGAL DESCRIPTION: 228 TELFAIR STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAJACSM LAND TITLE SURVEY DATED OCTOBER 9, 1998, PREPARED BY
W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M. HARDY, GEORGIA
REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING METES
AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY INTERSECTION OF 3RD STREET
(RIW VARIES) AND TELFAIR STREET (RIW VARIES) AND CONTINUING EAST
ALONG THE SOUTH RIGHT OF WAY OF TELFAIR STREET 503.58 FEET :t TO A #5
REBAR FOUND, AND THE TRUE POINT OF BEGINNING; THENCE TURNING AND
CONTINUING ALONG THE SOUTH RIGHT OF WAY OF TELFAIR STREET SOUTH 67
DEGREES 37 MINUTES 26 SECONDS EAST A DISTANCE OF 33.29 FEET TO A #4
REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF NfF
MIRICK SOUTH 21 DEGREES 31 MINUTES 01 SECOND WEST A DISTANCE OF 169.85
FEET TO A #5 REBAR FOUND; THENCE TtJRNING AND CONTINUING ALONG THE
LINE OF NfF ROUNDTREE AND NfF YOUNG NORTH 68 DEGREES 51 MINUTES 26
SECONDS WEST A DISTANCE OF 32.34 FEET TO. A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF 230 TELFAIR STREET NORTH 21
DEGREES 11 M~TES 58 SECONDS EAST A DISTANCE OF 170.56 FEET TO THE
TRUE POINT OF BEGINNING AND CONTAINING 0.13ACRES (5,584.46 SQUARE
FEET),
LEGAL DESCRIPTION: 230 TELFAIR STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAJACSM LAND TITLE SURVEY DATED OCTOBER 9,1998, PREPARED BY
W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY, GEORGIA
4
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REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING METES
AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY INTERSECTION OF 3RD STREET
(R/W V ARIES) AND TELFAIR STREET (R/W V ARIES) AND CONTINUING EAST
ALONG THE SOUTH RIGHT OF WAY OF TELFAIR STREET 470.58 FEET:t TO A #4
REBAR SET, AND THE TRUE POINT OF BEGINNING; THENCE TURNING AND
CONTINUING ALONG THE SOUTH RIGHT OF WAY OF TELFAIR STREET SOUTH 67
. DEGREES 37 MINUTES 26 SECONDS EAST A DISTANCE OF 33.00 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF 228
TELFAIR STREET SOUTH 21 DEGREES 11 MINUTES 58 SECONDS WEST A DISTANCE
OF 170.56 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING
ALONG THE LINE OF NIF YOUNG AND NIF WILLIAMS NORTH 67 DEGREES 07
. MINUTES 00 SECONDS WEST A DISTANCE OF 32.64 FEET TO A #5 REBAR FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF NIF ALLEN NORTH 21
DEGREES 04 MINUTES 36 SECONDS EAST A DISTANCE OF 170.28 FEET TO THE
TRUE POINT OF BEGINNING AND CONTAINING 0.13 ACRES (5,591.39 SQUARE
FEET).
LEGAL DESCRIPTION: 224 BROAD STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAJACSM LAND TITLE SURVEY DATED OCTOBER 21, 1998, PREPARED
BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHWEST RIGHT OF WAY OF 2ND STREET (R/W V ARIES)
AND BROAD STREET (R/W VARIES) AND CONTINUING WEST ALONG THE SOUTH
RIGHT OF WAY OF BROAD STREET 247,50 FEET:t TO A P,K. NAIL FOUND AND THE
TRUE POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE
LINE OF N/F ANDERSON SOUTH 23 DEGREES 38 MINUTES 12 SECONDS WEST A
DISTANCE OF 133.70 FEET TO A #4 REBAR SET; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIF DOWNTOWN AUGUSTA NORTH 68
DEGREES 16 MINUTES 05 SECONDS WEST A DISTANCE OF 54.02 FEET TO A #4
REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF NIF
MCGAHEE NORTH 23 DEGREES 37 MINUTES 14 SECONDS EAST A DISTANCE OF
134.76 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG
THE SOUTH RIGHT OF WAY OF BROAD STREET SOUTH 67 DEGREES 08 MINUTES 50
SECONDS EAST A DISTANCE OF 54.03'FEET TO THE TRUE POINT OF BEGINNING
AND CONTAINING 0.17 ACRES (7,249.35 SQUARE FEET),
5
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""",
LEGAL DESCRIPTION: 111 ELLIS STREET
- ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTNACSM LAND TITLE SURVEY DATED OCTOBER 20,1998, PREPARED
BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT OF WAY OF FORSYTHE STREET (R/W
VARIES) AND ELLIS STREET (RIW VARIES) AND CONTINUING WEST ALONG THE
NORTH RIGHT OF WAY OF ELLIS STREET 49.00 FEET:t TO A #5 REBAR FOUND AND
THE TRUE POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG
THE NORTH RIGHT OF WAY_OF ELLIS STREET NORTH 66 DEGREES 00 MINUTES 00
SECONDS WEST A DISTANCE OF 48.52 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF NIP MCGOW ANS FLORIST
NORTH 25 DEGREES 01 MINUTE 43 SECONDS EAST A DISTANCE OF 90,91 FEET TO
A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF
NIP CONNELL SOUTH 66 DEGREES 04 MINUTES 54 SECONDS EAST A DISTANCE OF
47.51 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG
THE LINE OF NIP AGNEW SOUTH 24 DEGREES 23 MINUTES 20 SECONDS WEST A
DISTANCE OF 90.96 FEET TO THE TRUE POINT OF BEGINNING AND CONTAINING
0.10 ACRES (4,365.88 SQUARE FEET).
LEGAL DESCRIPTION: 409 WALKER STREET
ALL THAT CERTAIN PIECE, PARCELOR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGiA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTNACSM LAND TITLE SURVEY DATED OCTOBER 9,1998, PREPARED BY
W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY, GEORGIA
REGISTERED LAND SURVEYOR NO. 2662, AND HA VING THE FOLLOWING METES
AND BOUNDS TO WIT:
BEGINNING AT THE NORTHEAST RIGHT OF WAY INTERSECTION OF WALKER
STREET (RIW VARIES) AND GORDON HIGHWAY (150 FEET RfW) AT A 1 INCH
CRIMPED TOP FOUND AND BEING THE TRUE POINT OF BEGINNING; THENCE
TURNING AND CONTINUING ALONG THE EAST RIGHT OF WAY OF GORDON
HIGHWAY NORTH 25 DEGREES 25 MINUTES 50 SECONDS EAST A DISTANCE OF
131,69 FEET TO A 5/8 INCH OPEN TOP FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIP REDDY SOUTH 63 DEGREES 21 MINUTES 37
SECONDS EAST A DISTANCE OF 36.67 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF NIP ZARGE SOUTH 23 DEGREES
04 MINUTES 36 SECONDS WEST A DISTANCE OF 130.65 FEET TO A #5 REBAR
FOUND; THENCE TURNING AND CONTINUING ALONG THE NORTH RIGHT OF WAY
OF WALKER STREET NORTH 65 DEGREES 04 MINUTES 36 SECONDS WEST A
6
F:\Documents\PRC\white oak\LEGAL DESCRIPTIONS.COMBINE4.doc
furnishes to Lender satisfactory evidence that the completion of the Work can be
accomplished on or before the extended Completion Date,
7,18, Conflict or Inconsistency of Terms, If there is any .inconsistency in the terms and
provisions of this Agreement and any of the other Loan Documents or between or among
any two or more Loan Documents, Lender shall have the right at its sole option to elect
which of such provisions shall govern,
7,19. Exhibits. All Exhibits attached to this Agreement are a part of this Agreement,
7,20, Survival of Representations and Warranties, All representations and warranties
made in this Agreement shall be deemed to be made and must be true and correct as of the
Effective Date and shall survive the execution of this Agreement,
7,21. Conditions, If any condition in this Agreement requires Borrower to submit
evidence of the existence or non-existence of a certain fact or facts, Lender is always free to
independently establish the existence or non-existence of the facts in question before it
deems the condition satisfied,
7.22, Terminology. Whenever there is a reference to "reasonable attorney's fees" in this
Agreement, it shall mean reasonable attorney's fees, actually incurred, without regard to
any statutory presumption or definition as to what "reasonable" attorney's fees means,
[Signatures on next page,]
46 MINUTES 16 SECONDS WEST A DISTANCE OF 174.77 FEET TO A #4 REBAR SET;
THENCE TURNING AND CONTINUING ALONG THE NORTH RIGHT OF WAY OF
TELFAIR STREET NORTH 67 DEGREES 24 MINUTES 03 SECONDS WEST A DISTANCE
OF 33.59 FEET TO THE TRUE POINT OF BEGINNING AND CONTAINING 0.13 ACRES
(5,873.89 SQUARE FEET).
LEGAL DESCRIPTION: 134 & 136 WALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTA/ACSM LAND TITLE SURVEY DATED OCTOBER 21,1998, PREPARED
BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING ,
METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY OF 2ND STREET (R/W V ARIES)
AND WALKER STREET (R/W VARIES) AND CONTINUING EAST ALONG THE SOUTH
RIGHT OF WAY OF WALKER STREET 124,50 FEET :t TO A #5 REBAR FOUND BEING
THE TRUE POINT OF BEGINNlNG, THENCE TURNING AND CONTINUING ALONG
THE SOUTH RIGHT OF WAY OF WALKER STREET SOUTH 66 DEGREES 33 MINUTES
32 SECONDS EAST A DISTANCE OF 42.97 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF N/F BAUKNIGHT SOUTH 23
DEGREES 25 MINUTES 00 SECONDS WEST A DISTANCE OF 132.01 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F
. CIMANYD INC, N/F DAVIS, N/F JACKSON, NORTH 66 DEGREES 38 MINUTES 47
SECONDS WEST A DISTANCE OF 42.98 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF N/F BAILEY NORTH 23 DEGREES
25 MINUTES 28 SECONDS EAST A DISTANCE OF 132.07 FEET TO THE TRUE POINT
OF BEGINNlNG AND CONTAINING 0.13 ACRES (5,669.54 SQUARE FEET).
LEGAL DESCRIPTION: 259 GREENE STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTA/ACSM LAND TITLE SURVEY DATED OCTOBER 19,1998, PREPARED
BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M, HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HA VING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHEAST RIGHT OF WAY OF 3RD STREET (RJW VARIES)
AND GREENE STREET (R/W VARIES) AND CONTINUING EAST ALONG THE NORTH
RIGHT OF WAY OF GREENE STREET 52.28 FEET :t TO A SPIKE FOUND AND THE
TRUE POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE
LINE OF N/F GRABLOSKl NORTH 22 DEGREES 43 MINUTES 12 SECONDS EAST A
DISTANCE-OF 119.55 FEET TO A CORNER OF BRICK WALL; THENCE TURNING AND
CONTINUING ALONG THE LINE OF N/F BRYANT SOUTH 67 DEGREES 58 MINUTES
8
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07 SECONDS EAST A DISTANCE OF 30,85 FEET TO A CORNER OF WALL; THENCE
TURNING AND CONTINUING ALONG THE LINE OF NIF BRYANT NORTH 26
DEGREES 06 MINUTES 58 SECONDS EAST A DISTANCE OF 14.85 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF NIF
SULLIVAN SOUTH 66 DEGREES 58 MINUTES 57 SECONDS EAST A DISTANCE OF
16.43 FEET TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE
LINE OF NIF BUCKLEY SOUTH 23 DEGREES 30 MINUTES 09 SECONDS WEST A
DISTANCE OF 133.69 FEET TO A 1/2 INCH FLAT BAR; THENCE TURNING AND
CONTINUING ALONG THE NORTH RIGHT OF WAY OF GREENE STREET NORTH 68
DEGREES 30 MINUTES 00 SECONDS WEST A DISTANCE OF 46.34 FEET TO THE TRUE
POINT OF BEGINNING AND CONTAINING 0.13 ACRES (5,872.50 SQUARE FEET).
LEGAL DESCRIPTION: 256 GREENE STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA,'BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "A" ON AN ALTA/ACSM LAND TITLE SURVEY DATED OCTOBER 9, 1998,
PREP ARED BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY OF GREENE STREET (RIW
VARIES) AND 3RD STREET (RIW VARIES) AND CONTINUING ALONG THE SOUTH
RIGHT OF WAY OF GREENE STREET 155.41 FEET :t TO A #4 REBAR SET AND THE
TRUE POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE
SOUTH RIGHT OF WAY OF GREENE STREET SOUTH 67 DEGREES 29 MINUTES 30
SECONDS EAST A DISTANCE OF 33.01 FEET TO A #4 REBAR SET; THENCE TURNING
AND CONTINUING ALONG THE LINE OF NIF BIGHOM SOUTH 23 DEGREES 41
MINUTES 16 SECONDS WEST A DISTANCE OF 173,27 FEET TO A #5 REBAR FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF NIF THOMPKINS AND
NIF BEALE NORTH 66 DEGREES 13 MINUTES 55 SECONDS WEST A DISTANCE OF
32.99 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG
THE LINE OF 258 GREENE STREET NORTH 23 DEGREES 40 MINUTES 55 SECONDS
EAST A DISTANCE OF 172.54 FEET TO THE TRUE POINT OF BEGINNING AND
CONTAINING 0.13 ACRES (5,704.80 SQUARE FEET),
LEGAL DESCRIPTION: 258 GREENE STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "B" ON AN ALTA/ACSM LAND TITLE SURVEY DATED OCTOBER 9, 1998,
PREP ARED BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
9
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BEGINNING AT THE SOUTHEAST RIGHT OF WAY OF GREENE STREET (RIW
VARIES) AND 3RD STREET (R/W VARIES) AND CONTINUING ALONG THE SOUTH
RIGHT-OF-WAY OF GREENE STREET 122.51 FEET:i: TO A #4 REBAR SET AND THE
TRUE POINT OF BEGINNING; THENCE CONTINUING ALONG THE SOUTH RIGHT OF
WAY OF GREENE STREET SOUTH 67 DEGREES 29 MINUTES 30 SECONDS EAST A
pISTANCE OF 32,90 FEET TO A #4 REBAR SET; THENCE TURNING AND
CONTINUING ALONG THE LINE OF 256 GREENE STREET SOUTH 23 DEGREES 40
MINUTES 55 SECONDS WEST A DISTANCE OF 172.54 FEET TO A #5 ,REBAR FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF NIF BEALE AND NIF
BARTON INVESTMENT CO. INe. NORTH 66 DEGREES 13 MINUTES 55 SECONDS
WEST A DISTANCE OF 32.96 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF 260 GREENE STREET NORTH 23 DEGREES 42
MINUTES 20 SECONDS EAST A DISTANCE OF 171.82 FEET TO THE TRUE POINT OF
BEGINNING AND CONTAINING 0,13 ACRES (5,669.67 SQUARE FEET).
LEGAL DESCRIPTION: 260 GREENE STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "C" ON AN ALTA/ACSM LAND TITLE SURVEY DATED OCTOBER 9, 1<)98,
PREPARED BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY INTERSECTION OF3RD STREET
(R/W V ARIES) AND GREENE STREET (RIW V ARIES) AND CONTINUING EAST
ALONG THE SOUTHERN RIGHT OF WAY OF GREENE STREET 89.5 FEET :t TO A #4
REBAR SET AND THE TRUE POINT OF BEGINNING; THENCE TURNING AND
CONTINUING ALONG THE SOUTH RIGHT OF WAY GREENE STREET SOUTH 67
DEGREES 29 MINUTES 30 SECONDS EAST A DISTANCE OF 33.01 FEET TO A #4
REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF 258
GREENE STREET SOUTH 23 DEGREES 42 MINUTES 20 SECONDS WEST A DISTANCE
OF 171.82 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING
ALONG THE LINE OF BARTON INVESTMENT CO INe. NORTH 66 DEGREES 13
MINUTES 55 SECONDS WEST A DISTANCE OF 32.98 FEET TO A 5/8 INCH CRIMPED
TOP FOUND; THENCE TURNING AND CONTINUING ALONG,THE LINE OF AUGUSTA
MINISTERS UNION, NIF ROBERTS AND NIF GRADY NORTH 23 DEGREES 41
MINUTES 58 SECONDS EAST A DISTANCE OF 171.10 FEET TO THE TRUE POINT OF
BEGINNING AND CONTAINING 0.13 ACRES (5,657,19 SQUARE FEET).
LEGAL DESCRIPTION: 608 & 610 THIRD STREET & 264 WALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "D" ON AN ALTA/ACSM LAND TITLE SURVEY DATED NOVEMBER 13,
10
F:IDocumentslPRClwhite oak\LEGAL DESCRlPTIONS.COMBINE4,doc
1998, PREPARED BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY OF THIRD STREET (RfW V ARIES)
AND WALKER STREET (R/W VARIES) AT A #4 REBAR SET AND THE TRUE POINT OF
BEGINNING; THENCE TURNING AND CONTINUING EAST ALONG THE SOUTH
RIGHT OF WAY OF WALKER STREET SOUTH 66 DEGREES 34 MINUTES 40 SECONDS
'EAST A DISTANCE OF 5439 FEET TO A #4 REBAR SET; THENCE SOUTH 21 DEGREES
44 MINUTES 19 SECONDS WEST A DISTANCE OF 1,90 FEET TO A # 5 REBAR FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF 262 WALKER STREET
SOUTH 23 DEGREES 45 MINUTES 24 SECONDS WEST A DISTANCE OF 134,84 FEET
TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF
614 THIRD STREET NORTH 66 DEGREES 26 MINUTES 02 SECONDS WEST A
DISTANCE OF 52.56 FEET TO A #4 REBAR SET; THENCE TURNING AND
CONTINUING NORTH 66 DEGREES 26 MINUTES 02 SECONDS WEST A DISTANCE OF
1.93 FEET TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE
RIGHT OF. WAY OF THIRD STREET NORTH 23 DEGREES 46 MINUTES 10 SECONDS
EAST A DISTANCE OF 136.60 FEET TO THE TRUE POINT OF, BEGINNING AND
CONTAINING 0.17 ACRES (7,444.87 SQUARE FEET).
LEGAL DESCRIPTION: 262 WALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "C" ON AN ALTNACSM LAND TITLE SURVEY DATED NOVEMBER 13,
1998, PREPARED BY W,R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY OF THIRD STREET (R/W V ARIES)
AND WALKER STREET (R/W V ARIES) AND CONTINUING EAST ALONG THE SOUTH
RIGHT OF WAY OF WALKER STREET 54.39 FEET TO A #4 REBAR SET; THENCE
TURNING AND CONTINUING SOUTH 21 DEGREES 44 MINUTES 19 SECONDS WEST A
DIST ANCE OF 1.90 FEET TO A #4 REBAR SET AND THE TRUE POINT OF BEGINNING;
THENCE TURNING AND CONTINUING ALONG THE SOUTH RIGHT OF WAY OF
WALKER STREET SOUTH 66 DEGREES 25 MINUTES 22 SECONDS EAST A DISTANCE
OF 46.18 FEET TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG
THE LINE OF 260 WALKER STREET SOUTH 23 DEGREES 41 MINUTES 06 SECONDS
WEST A DISTANCE OF 134,83 FEET TO A #4 REBAR SET; THENCE TURNING AND
CONTINUING ALONG THE LINE OF 614 THIRD STREET NORTH 66 DEGREES 26
MINUTES 23 SECONDS WEST A DISTANCE OF 46.35 FEET TO A #4 REBAR SET;
THENCE TURNING AND CONTINUING ALONG THE LINE OF 608 AND 610 THIRD
STREET & 264 WALKER STREET NORTH 23 DEGREES 45 MINUTES 24 SECONDS
11
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EAST A DISTANCE OF 134.84 FEET TO THE TRUE POINT OF BEGINNING AND
CONTAINING 0.14 ACRES (6,238.11 SQUARE FEET).
LEGAL DESCRIPTION: 260 WALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "B" ON AN ALTA/ACSM LAND TITLE SURVEY FOR DATED NOVEMBER
13, '1998, PREPARED BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN
M. HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING MEtES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY OF THIRD STREET (RIW V ARIES)
AND WALKER STREET (R/W V ARIES) AND CONTINUING EAST ALONG THE SOUTH
RIGHT OF WAY OF WALKER STREET 54,39 FEET TO A #4 REBAR SET; THENCE
TURNING AND CONTINUING SOUTH 21 DEGREES 44 MINUTES 19 SECONDS WEST A
DISTANCE OF 1.90 FEET TO A #4 REBAR SET; THENCE CONTINUING EAST ALONG
THE SOUTH RIGHT OF WAY OF WALKER STREET 46.18 FEET TO A #4 REBAR SET
AND THE TRUE POINT OF BEGINNING; THENCE TURNING AND CONTINUING
ALONG THE SOUTH,RIGHT OF WAY OF WALKER STREET SOUTH 66 DEGREES 37
MINUTES 45 SECONDS EAST A DISTANCE OF 44.22 FEET TO A #4 REBAR SET;
THENCE TURNING AND CONTINUING ALONG THE L INE OF 256 WALKER STREET
SOUTH 23 DEGREES 41 MINUTES 36 SECONDS WEST A DISTANCE OF 134.99 FEET
TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF
N/F WARREN NORTH 66 DEGREES 21 MINUTES 58 SECONDS WEST A DISTANCE OF
12.84 FEET TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE
LINE OF 614 THIRD STREET NORTH 66 DEGREES 26 MINUTES 22 SECONDS WEST A
DIST ANCE OF 31,36 FEET TO A #4 REBAR SET; THENCE TURNING AND
CONTINUING ALONG THE LINE OF 262 WALKER STREET NORTH 23 DEGREES 41
MINUTES 06 SECONDS EAST A DISTANCE OF 134.83 FEET TO THE TRUE POINT OF
BEGINNING AND CONTAINING 0.14 ACRES (5,964.14 SQUARE FEET).
LEGAL DESCRIPTION: 256 WALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "A" ON AN ALTA/ACSM LAND TITLE SURVEY DATED NOVEMBER 13,
1998, PREPARED BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662; AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY OF THIRD STREET (R/W V ARIES)
AND WALKER STREET (R/W V ARIES) AND CONTINUING EAST ALONG THE SOUTH
RIGHT OF WAY OF WALKER STREET 54.39 FEET TO A #4 REBAR SET; THENCE
TURNING AND CONTINUING SOUTH 21 DEGREES 44 MINUTES 19 SECONDS WEST A
DISTANCE OF 1.90 FEET TO A #4 REBAR SET; THENCE CONTINUING EAST ALONG
12
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THE SOUTH RIGHT OF WAY OF WALKER STREET 90.40 FEET TO A #4 REBAR SET
AND THE TRUE POINT OF BEGi::NNING, THENCE TURNING AND CONTINUING
ALONG THE SOUTH RIGHT OF WAY OF WALKER STREET SOUTH 66 DEGREES 37
MINUTES 20 SECONDS EAST A DISTANCE OF 29.70 FEET TO A #5 REBAR FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F HOLLAND SOUTH
23 DEGREES 41 MINUTES 35 SECONDS WEST A DISTANCE OF 135.12 FEET TO A #4
REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F
WARREN NORTH 66 DEGREES 21 MINUTES 57 SECONDS WEST A DISTANCE OF
29,70 FEET TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE
LINE OF 260 WALKER STREET NORTH 23 DEGREES 41 MINUTES 36 SECONDS EAST
A DISTANCE OF 134.99 FEET TO THE TRUE POINT OF BEGINNING AND
CONTAINING 0.09 ACRES (4,012.24 SQUARE FEET)
LEGAL DESCRIPTION: 614 THIRD STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "E" ON AN ALTNACSM LAND TITLE SURVEY DATED NOVEMBER 13,
1998, PREPARED BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE.
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY OF THIRD STREET (R/W V ARIES)
AND WALKER STREET (R/W V ARIES) AND CONTINUING SOUTH ALONG THE EAST
RIGHT OF WAY OF THIRD STREET 136.60 FEET TO A#4 REBAR SET; THENCE
TURNING AND CONTINUING SOUTH 66 DEGREES 26 MINUTES 02 SECONDS EAST A
DISTANCE OF 1.93 FEET TO A #4 REBAR SET AND THE TRUE POINT OF BEGINNING;
THENCE TURNING AND CONTINUING ALONG THE LINE OF 608 AND 610 THIRD
STREET AND 264 WALKER STREET SOUTH 66 DEGREES 26 MINUTES 02 SECONDS
EAST A DISTANCE OF 52.56 FEET TO A #4 REBAR SET; THENCE TURNING AND
CONTINUING ALONG THE LINE OF .262 WALKER STREET SOUTH 66 DEGREES 26
MINUTES 23 SECONDS EAST A DISTANCE OF 46,35 FEET TO A #4 REBAR SET;
THENCE TURNING AND CONTINUING ALONG THE LINE OF 260 WALKER STREET
SOUTH 66 DEGREES 26 MINUTES 22 SECONDS EAST A DISTANCE OF 31.36 FEET TO
A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F
WARREN SOUTH 24 DEGREES 01 MINUTE 25 SECONDS WEST A DISTANCE OF 40.08
FEET TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE
OF N/F PERDUE NORTH 66 DEGREES 24 MINUTES 09 SECONDS WEST A DISTANCE
OF 130.06 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING
ALONG THE EAST RIGHT OF WAY OF THIRD STREET NORTH 23 DEGREES 43
MINUTES 55 SECONDS EAST A DISTANCE OF 40,00 FEET TO THE TRUE POINT OF
BEGINNING AND CONTAINING 0.12 ACRES (5,211.34 SQUARE FEET).
13
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LEGAL DESCRIPTION: 209 ELLIS STREET
ALL THA T CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "D" ON AN ALTA/ACSM LAND TITLE SURVEY DATED NOVEMBER 5,
1998, PREPARED BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT OF WAY OF 2ND STREET (RIW V ARIES)
AND ELLIS STREET (RIW V ARIES) AND CONTINUING WEST ALONG ELLIS STREET
99 FEET :t TO A 3/4 INCH CRIMPED TOP FOUND AND THE TRUE POINT OF
BEGINNING; THENCE TURNING AND CONTINUING ALONG THE NORTH RIGHT OF
WAY OF ELLIS STREET NORTH 66 DEGREES 00 MINUTES 00 SECONDS WEST A
DISTANCE OF 50.03 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF 211 AND 213 ELLIS STREET NORTH 24 DEGREES
25 MINUTES 36 SECONDS EAST A DISTANCE OF 118.99 FEET TO A #5 REBAR
FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE N/F ANTHONY
AND N/F HERRINGTON SOUTH 65 DEGREES 58 MINUTES 26 SECONDS EASTA
DISTANCE OF 49.97 FEET TO A #5 REBAR FOUND; THENCE TURNING AND _
CONTINUING ALONG THE LINE OF N/F AGOST AS SOUTH 24 DEGREES 23 MINUTES
45 SECONDS WEST A DISTANCE OF 118.97 FEET TO THE TRUE POINT OF
BEGINNING AND CONTAINING 0,14 ACRES (5,948.87 SQUARE FEET).
LEGAL DESCRIPTION 211 & 213 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "C" ON AN ALTA/ACSM LAND TITLE SURVEY DATED NOVEMBER 5,
1998, PREPARED BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO, 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT OF W A YOF 2ND STREET (RIW VARIES)
AND ELLIS STREET (RIW VARIES) AND CONTINUING WEST ALONG ELLIS STREET
149,03 FEET:t TO A #5 REBAR FOUND AND THE TRUE POINT OF BEGINNING;
THENCE TURNING AND CONTINUING ALONG THE NORTH RIGHT OF WAY OF
ELLIS STREET NORTH 65 DEGREES 58 MINUTES 22 SECONDS WEST A DISTANCE OF
53.55 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG
THE LINE OF 215 ELLIS STREET NORTH 24 DEGRES 27 MINUTES 11 SECONDS EAST
A DISTANCE OF 119,22 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF,N/F SPRADLEY AND N/F ANTHONY SOUTH 65
DEGREES 43 MINUTES 26 SECONDS EAST A DISTANCE OF 53.50 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF 209
ELLIS STREET SOUTH 24 DEGREES 25 MINUTES 36 SECONDS WEST A DISTANCE OF
14
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DISTANCE OF 42.03 FEET TO THE TRUE POINT OF BEGINNING AND CONTAINING
0.12 ACRES (5,158.18 SQUARE FEET).
LEGAL DESCRIPTION: 101 & 103 1ST STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RlCHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY DATED OCTOBER 20, 1998, PREPARED
BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HA VINGTHE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHWEST RlGHT OF WAY INTERSECTION OF REYNOLDS
STREET (RIW V ARIES) AND 1 ST STREET (RIW V ARIES) AT A #5 REBAR FOUND AND
THE TRUE POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG
THE WEST RIGHT OF WAY OF 1ST STREET SOUTH 24 DEGREES 01 MINUTE 17
SECONDS WEST A DISTANCE OF 65.12 FEET TO #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF N/F WASHINGTON NORTH 65
DEGREES 55 MINUTES 56 SECONDS WEST A DISTANCE OF 75.83 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F
CARTER AND N/F ZARGE NORTH 23 DEGREES 51 MINUTES 02 SECONDS EAST A
DISTANCE OF 65.03 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE SOUTH RIGHT OF WAY OF REYNOLDS STREET SOUTH
66 DEGREES 00 MINUTES 00 SECONDS EAST A DISTANCE OF 76.02 FEET TO THE
TRUE POINT OF BEGINNING AND CONTAINING 0.11 ACRES (4,940.70 SQUARE
FEET).
LEGAL DESCRIPTION: 237 TELFAIR STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTNACSM LAND TITLE SURVEY DATED OCTOBER 14, 1998, PREPARED.
BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHEAST RIGHT OF WAY INTERSECTION OF 3RD STREET
(RIW V ARIES) AND TELFAIR STREET (RIWV ARIES) AND CONTINUING EAST
ALONG THE NORTH RlGHT OF WAY OF TELFAIR STREET 344,68 FEET :t TO A #5
REBAR FOUND AND THE TRUE POINT-OF BEGINNING; THENCE TURNING AND
, CONTINUING ALONG THE LINE OF N/F TRITT AND WALKER NORTH 22 DEGREES
45 MINUTES 57 SECONDS EAST A DISTANCE OF 174.91 FEET TO A #4 REBAR SET;
THENCE TURNING AND CONTINUING ALONG THE LINE OF DOWNTOWN
AUGUSTA, INe. AND N/F BALK, SOUTH 67 DEGREES 09 MINUTES 44 SECO~S
EAST A DISTANCE OF 33.60 FEET TO A 3/4 INCH OPEN TOP FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF N/F BALK, SOUTH 22 DEGREES
7
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DOWNTOWN AUGUSTA, INC. NORTH 24 DEGREES 39 MINUTES 54 SECONDS EAST
A DISTANCE OF 133.26 FEET TO A #5 REBAR FOUND; T;HENCE TURNING AND
CONTINUING ALONG THE LINE OF NIF MCGAHEE AND NIF DOWNTOWN
AUGUSTA, INe. SOUTH 67 DEGREES 27 MINUTES 09 SECONDS EAST A DISTANCE
OF 63,00 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING
ALONG THE LINE OF 215 ELLIS STREET SOUTH 24 DEGREES 45 MINUTES 08
SECONDS WEST A DISTANCE OF 134,87 FEET TO THE TRtJE POINT OF BEGINNING
AND CONTAINING 0.19 ACRES (8,426.94 SQUARE FEET).
LEGAL DESCRIPTION: 319 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTA/ACSM LAND TITLE SURVEY DATED NOVEMBER 9,1998, PREPARED
BY W,R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT OF WAY OF 3RD STREET (R/W V ARIES)
AND ELLIS STREET (R/W VARIES) AND CONTINUING WEST 287.99 FEET :t TO A ,1/2
INCH OPEN TOP FOUND AND THE TRUE POINT OF BEGINNING; THENCE TURNING
AND CONTINUING ALONG THE NORTH RIGHT OF WAY OF ELLIS STREET NORTH
66 DEGREES 07 MINUTES 03 SECONDS WEST A DISTANCE OF 40.82 FEET TO A P.K.
NAIL FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF 321 ELLIS
STREET NORTH 25 DEGREES 02 MINUTES 39 SECONDS EAST A DISTANCE OF 132.25
FEET TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE
OF NIF OLDE TOWN PROPERTIES SOUTH 66 DEGREES 15 MINUTES 48 SECONDS
EAST A DISTANCE OF 32.17 FEET TO A #4 REBAR SET; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIF UPTON SOUTH 62 DEGREES 02 MINUTES 56
SECONDS EAST A DISTANCE OF 8,55 FEET TO A #4 REBAR FOUND SET; THENCE
TURNING AND CONTINUING ALONG THE LINE OF NIF HUDSON SOUTH 24
DEGREES 59 MINUTES 42 SECONDS WEST A DISTANCE OF 131.72 FEET TO THE
TRUE POINT OF BEGINNING AND CONTAINING 0.12 ACRES (5,389.41 SQUARE
FEET).
LEGAL DESCRIPTION: 323 AND 323 1/2 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTA/ACSM LAND TITLE SURVEY DATED NOVEMBER 9,1998, PREPARED
BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT OF WAY OF 3RD STREET (R/W V ARIES)
ANDELLIS STREET (R/W VARIES) AND CONTINUING WEST 364.79 FEET:t TO A 3/4
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INCH CRIMPED TOP FOUND AND THE POINT OF BEGINNING; THENCE TURNING
AND CONTINUING ALONG THE NORTH RIGHT OF WAY OF ELLIS STREET NORTH
65 DEGREES 58 MINUTES 54 SECONDS WEST A DISTANCE OF 36,00 FEET TO A #4
REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF 325 AND
327 ELLIS STREET NORTH 25 DEGREES 08 MINUTES 36 SECONDS EAST A DISTANCE
OF 112,89FEET TO A 3/4 INCH CRIMPED TOP FOUND; THENCE TURNING AND
CONTINUING ALONG THELINE OF N/F CROSS NORTH 24 DEGREES 09 MINUTES 17
SECONDS EAST A DISTANCE OF 19.28 FEET TO A 3/4 INCH CRIMPED TOP FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F DEVANEY SOUTH
66 DEGREES 32 MINUTES 11 SECONDS EAST A DISTANCE OF 36.02 FEET TO A 3/4
. INCH CRIMPED TOP FOUND; THENCE TURNING AND CONTINUING ALONG THE
LINE OF 321 ELLIS STREET SOUTH 25 DEGREES 00 MINUTES 12 SECONDS WEST A
DISTANCE OF 132.51 FEET TO THE TRUE POINT OF BEGINNING AND CONTAINING
0.11 ACRES (4,745.59 SQUARE FEET).
LEGAL DESCRIPTION: 325 & 327 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY DATED NOVEMBER 9,1998, PREPARED
BY W,R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RlGHT OF WAY OF 3RD STREET (R/W VARIES)
AND ELLIS STREET (R/W VARIES) AND CONTINUING WEST 400.79 FEET:t TO A #4
REBAR SET AND THE TRUE POINT OF BEGINNING; THENCE TURNING AND
CONTINUING ALONG THE NORTH RIGHT OF WAY OF ELLIS STREET NORTH 65
DEGREES 58 MINUTES 54 SECONDS WEST A DISTANCE OF 47.00 FEET TO A #4
REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F
CALDWELL NORTH 24 DEGREES 00 MINUTES 08 SECONDS EAST A DISTANCE OF
112,97 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG
THE LINE OF N/F CROSS SOUTH 65 DEGREES 51 MINUTES 58 SECONDS EAST A
DISTANCE OF 49.25 FEET TOA 3/4 INCH CRIMPED TOP FOUND; THENCE TURNING.
AND CONTINUING ALONG THE LINE OF 323 AND 323 1/2 ELLIS STREET SOUTH 25
DEGREES 08 MINUTES 36 SECONDS WEST A DISTANCE OF 112.89 FEET TO THE
TRUE POINT OF BEGINNING AND CONTAINING 0.12 ACRES (5,434.13 SQUARE
FEET),
LEGAL DESCRIPTION: 229 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY DATED OCTOBER 28,1998, PREPARED
BY W,R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M, HARDY,
17
F:IDocumentslPRClwhite oaklLEGAL DESCRIPTIONS.COMBINE4.doc
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT OF WAY OF 2ND STREET (R/W V ARIES)
AND ELLIS STREET (R/W V ARIES) AND CONTINUING WEST ALONG THE NORTH
RIGHT OF WAY OF ELLIS STREET 482.85 FEET:!: TO A #5 REBAR FOUND AND THE
TRUE POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE
NORTH RIGHT OF WAY OF ELLIS STREET NORTH 66 DEGREES 04 MINUTES 37
SECONDS WEST A DISTANCE OF 39 .47 FEET TO A 1 INCH CRIMPED TOP FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF DOWNTOWN
AUGUSTA, INC. NORTH 24 DEGREES 12 MINUTES 56 SECONDS EAST A DISTANCE
OF 101.67 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING
ALONG THE LINE OF DOWNTOWN AUGUSTA, INC. SOUTH 64 DEGREES 35
MINUTES 12 SECONDS EAST A DISTANCE OF 40.87 FEET TO A #5 REBAR FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F BIRD SOUTH 25
DEGREES 00 MINUTES 25 SECONDS WEST A DISTANCE OF 100.63 FEET TO THE
TRUE POINT OF BEGINNING AND CONTAINING 0.09 ACRES (4,062.79 SQUARE
FEET).
LEGAL DESCRIPTION: 104-106 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LANDLYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAJACSM LAND TITLE SURVEY DATED NOVEMBER 4, 1998, PREPARED
BY W,R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
c
BEGINNING AT THE SOUTHWEST RIGHT OF WAY OF 1ST STREET (R/W VARIES)
AND ELLIS STREET (R/W V ARIES) BEING THE TRUE POINT OF BEGINNING AND
CONTINUING ALONG THE 'WEST RIGHT OF WAY OF 1 ST STREET SOUTH 24
DEGREES 44 MINUTES 10 SECONDS WEST A DISTANCE OF 138.67 FEET TO A #5
REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F DAVIS
AND N/F CARMAIN NORTH 65 DEGREES 35 MINUTES 29 SECONDS WEST A
DIST ANCE OF 84.95 FEET TO A 3/4 INCH CRIMPED TOP FOUND; THENCE TURNING
AND CONTINUING ALONG THE LINE OF N/F TINLEY AND N/F NEWSOME NORTH 24
DEGREES 43 MINUTES 14 SECONDS EAST A DISTANCE OF 138,06 FEET TO A 3/4
INCH CRIMPED TOP FOUND; THENCE TURNING AND CONTINUING ALONG THE
SOUTH RIGHT OF WAY OF ELLIS STREET SOUTH 66 DEGREES 00 MINUTES. 00
SECONDS EAST A DISTANCE OF 84.99 FEET TO THE TRUE POINT OF BEGINNING
AND CONTAINING 0,27 ACRES (11,756.37 SQUARE FEET),
LEGAL DESCRIPTION: 222 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
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ON AN ALTAJACSM LAND TITLE SURVEY DATED OCTOBER 29,1998, PREPARED
BY W,R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHWEST RIGHT OF WAY OF 2ND STREET (RfW V ARIES)
AND ELLIS STREET (R/W V ARIES) AND CONTINUING WEST ALONG ELLIS STREET
348,65 FEET :t TO A RAILROAD SPIKE FOUND AND THE TRUE POINT OF
BEGINNING; THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F
WILLIAMS SOUTH 24 DEGREES 26 MINUTES 19 SECONDS WEST A DISTANCE OF
107.86 FEET TO A 3/4 OPEN TOP FOUND; THENCE TURNING AND CONTINUING
ALONG THE LINE OF N/F DEMEDICIS NORTH 66 DEGREES 12 MINUTES 45 SECONDS
WEST A DISTANCE OF 49.61 FEET TO A 1/2 INCH OPEN TOP FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF N/F BAILEY NORTH 24 DEGREES
17 MINUTES 42 SECONDS EAST A DISTANCE OF 108.02 FEET TO A #5 REBAR
FOUND; THENCE TURNING AND CONTINUING ALONG THE SOUTH RIGHT OF WAY
OF ELLIS STREET SOUTH 66 DEGREES 01 MINUTE 14 SECONDS EAST A DISTANCE
OF 49,88 FEET TO THE TRUE POINT OF BEGINNING CONTAINING 0.12 ACRES
(5,369.21 SQUARE FEET).
LEGAL DESCRIPTION: 244 WALKER STREET
ALL THAT LOT OR PARCEL OF LAND, WITH IMPROVEMENTS THEREON, SITUATE,
LYING AND BEING IN THE CITY OF AUGUSTA, RICHMOND COUNTY, GEORGIA,
FRONTING 50 FEET, MORE OR LESS, ON THE SOUTH SIDE OF WALKER STREET
BETWEEN HOUSTON (SECOND) AND LINCOLN (THIRD) STREETS AND EXTENDING
_ BACK IN A SOUTHERLY DIRECTION BETWEEN PARALLEL LINES A DISTANCE OF
132 FEET, MORE OR LESS, AND BEING KNOWN AND DESIGNATED AS LOT 115 ON A
PLAT RECORDED IN THE OFFICE OF THE CLERK OF SUPERIOR COURT OF .
RICHMOND COUNTY, GEORGIA, IN REALTY BOOK 2F, PAGES 252 - 253, AND
BOUNDED AS FOLLOWS: ON THE NORTH, BY WALKER STREET; ON THE EAST, BY
LOT 114 OF SAID PLAT; ON THE SOUTH, BY LOT NOW OR FORMERLY OF THE
ESTATE OF W.T. DAVIDSON; AND ON THE WEST, BY LOT 116 OF SAID PLAT.
SAID PROPERTY IS KNOWN AND DESIGNATED AS 244 WALKER STREET
ACCORDING TO THE SYSTEM OF STREET NUMBERING CURRENTLY IN USE IN
AUGUST A, RICHMOND COUNTY, GEORGIA.
LEGAL DESCRIPTION: 236 AND 238 WALKER STREET
ALL THAT LOT OR PARCEL OF LAND, WITH IMPROVEMENTS THEREON, SITUATE,
LYING AND BEING IN THE CITY OF AUGUSTA, RICHMOND COUNTY, GEORGIA, ON
THE SOUTH SIDE OF WALKER STREET, BETWEEN HOUSTON (SECOND) STREET
AND LINCOLN (THIRD) STREETS, HA VINGA FRONTAGE ON SAID WALKER STREET
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OF 40 FEET, MORE OR LESS, AND EXTENDING BACK IN A SOUTHERLY DIRECTION
OF EVEN WIDTH A DISTANCE OF 132 FEET, MORE OR LESS, AND BEING BOUNDED:
ON THE NORTH, BY WALKER STREET; ON THE EAST, BY LOT NOW OR FORMERLY
OF MARY W, TERRILL; ON THE SOUTH, BY PROPERTY NOW OR FORMERLY OF H,S,
. JONES; AND ON THE WEST, BY PROPERTY NOW OR FORMERLY OF EARL A.
ROOKS. SAID LOT BEING FORMERLY DESIGNATED AS LOT NO.8, BLOCK 4, WARD
1 ON THE PLAT BOOK OF THE CITY COUNCIL OF AUGUST A, BUT IS NOW
DESIGNATED AS LOT NO.8, BLOCK 41, BLOCK A OF THE PRESENT CITY COUNCIL
OF AUGUSTA PLAT BOOK, AND BEING A PORTION OF THE PROPERTY CONVEYED
TO MRS. THELMA STEPHENS CORMAN, AIKIA MRS, THELMA STEPHENS KORMAN
BY VIRTUE OF A YEAR'S SUPPORT FROM THE ESTATE OF ALEX CORMAN AIKIA
ALEX KORMAN.
.J
A MORE RECENT PLAT PREPARED BY TOOLE SURVEYING COMPANY FOR OLDE
TOWN PROPERTIES I, DATED MARCH 20, 1989 IS RECORDED IN THE OFFICE OF THE
CLERK OF SUPERIOR COURT OF RICHMOND COUNTY, GEORGIA, IN REALTY REEL
307, PAGE 714.
SAID PROPERTY IS KNOWN AND DESIGNATED AS 236-238 WALKER STREET
ACCORDING TO THE SYSTEM OF STREET NUMBERING CURRENTLY IN USE IN-
AUGUSTA, RICHMOND COUNTY, GEORGIA.
LEGAL DESCRIPTION: 212 ELLIS STREET
ALL THAT LOT OR PARCEL OF LAND, WITH IMPROVEMENTS THEREON, SITUATE,
LYING AND BEING IN THE CITY OF AUGUSTA, RICHMOND COUNTY, GEORGIA,
BEGINNING AT A POINT ON THE SOUTH SIDE OF ELLIS STREET, WHICH POINT IS
150 FEET FROM THE INTERSECTION OF THE RIGHTS OF WAY OF SECOND STREET
AND ELLIS STREET AT THE SOUTHWESTERNMOST POINT OF INTERSECTION;
THENCE TURNING SOUTH 25 DEGREES 1 MINUTE WEST AND RUNNING A
DISTANCE OF 135.25 FEET TO AN IRON PIPE; THENCE, TURNING NORTH 65
DEGREES 30 MINUTES WEST AND RUNNING A DISTANCE OF 48.7 FEET; THENCE,
TURNlNG NORTH 24 DEGREES 30 MINUTES EAST AND RUNNING A DISTANCE OF
24 FEET; THENCE TURNING SOUTH 65 DEGREES 30 MINUTES EAST AND RUNNING
A DISTANCE OF 3 FEET; THENCE, TURNING N~RTH 24 DEGREES 30 MINuTES EAST
AND RUNNING A DISTANCE OF 111.25 FEET TO A NAIL AND CAP IN THE
CONCRETE ON THE SOUTH SIDE OF ELLIS STREET; THENCE TURNING SOUTH 65
DEGREES 30 MINUTES EAST AND RUNNING A DISTANCE OF 47 FEET ALONG THE
SOUTH SIDE OF ELLIS STREET TO THE POINT OF BEGINNING.
SAID PROPERTY IS DELINEATED ONA CERTAIN PLAT OF THE SAME PREPARED
BY BOBBY G, PRICE, REGISTERED LAND SURVEYOR, A COPY OF WHICH IS
ATTACHED TO AND INCORPORATED IN AN EXECUTOR'S DEED CONVEYING SAID
PROPERTY TO DOWNTOWN AUGUSTA, INC. DATED SEPTEMBER 15,1977 AND
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RECORDED IN THE OFFICE OF THE CLERK OF SUPERIOR COURT OF RICHMOND
COUNTY, GEORGIA, IN REALTY REEL 82, PAGES 459-461.
SAID PROPERTY IS THE SAME PROPERTY WHICH WAS CONVEYED TO GORDON W.
CHAMBERS BY WARRANTY DEED FROM JULIA R. COHEN DATED AUGUST 28, 1993
AND RECORDED IN REALTY.BOOK 12Q, PAGE 228, IN THE CLERK'S OFFICE.
LEGAL DESCRIPTION 214 - 216 ELLIS STREET
ALL THAT LOT OR PARCEL OF LAND WITH IMPROVEMENTS THEREON, SITUATE.
LYING AND BEING IN THE CITY OF AUGUST A, RICHMOND COUNTY, GEORGIA,
FRONTING 50 FEET MORE OR LESS ON THE SOUTH SIDE OF ELLIS STREET
BETWEEN HOUSTON (SECOND) AND LINCOLN (THIRD) STREETS, AND EXTENDING
BACK OF EVEN WIDTH 110 FEET, MORE OR LESS, AND BEING BOUNDED: ON THE
NORTH BY ELLIS STREET, ON THE EAST BY LOT NOW OR FORMERLY OF
CHAMBERS ON THE SOUTH BY LOT NOW OR FORMERLY OF MCCARRELL AND ON
THE WEST BY LOT NOW OR FORMERLY OF HOWARD ESTATE.
ALSO ALL THAT LOT OR PARCEL OF LAND WITH IMPROVEMENTS THEREON
SITUATE, LYING AND BEING IN THE CITY OF AUGUSTA, RICHMOND COUNTY, .
GEORGIA, FRONTING 3 FEET ON THE SOUTH SIDE OF ELLIS STREET BETWEEN
HOUSTON (SECOND) AND LINCOLN (THIRD) STREETS AND EXTENDING BACK OF
EQUAL WIDTH 126 FEET AND BEING BOUNDED: ON THE NORTH BY ELLIS STREET,
ON THE EAST BY LOT NOW OR FORMERLY OF JULIA R. COHEN FROM WHICH TillS
STRIP WAS TAKEN ON THE SOUTH BY LOT NOW OR FORMERLY OF JULIA R.
COHEN AND ON THE WEST BY LOT NOT OR FORMERLY OF MATTIE M. SATCHER.
SAID PROPERTY IS KNOWN AND DESIGNATED AS 214-216 ELLIS STREET
. ACCORDING TO THE SYSTEM OF STREET NUMBERING CURRENTLY IN USE IN
AUGUSTA, RICHMOND COUNTY, GEORGIA.
PROPERTY HEREINABOVE DESCRIBED AS 212 ELLIS STREET AND 214-216 ELLIS
STREET BEING THE SAME PROPERTY AS MORE P ARTICULARL Y DESCRIBED ON
THAT CERTAIN ALTAJACSM LAND TITLE SURVEY DATED NOVEMBER 12, 1998,
PREP ARED BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662 AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHWEST RIGHT OF WAY OF 2ND STREET (RIW V ARIES)
AND ELLIS STREET (RIWVARIES)AND CONTINUING WEST A DISTANCE OF 151.0
FEET ::t TO A #5 REBAR FOUND AND THE TRUE POINT OF BEGINNING; THENCE
TURNING AND CONTINUING ALONG THE LINE OF N/F BROWN SOUTH 25 DEGREES
07 MINUTES 02 SECONDS WEST A DISrANCE OF 135.25 FEET TO A 1 1/2 INCH OPEN
TOP FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F
PHILLIPS NORTH 65 DEGREES 26 MINUTES 31 SECONDS WEST A DISTANCE OF
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48.70 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG
THE LINE OF NIP SWEAT NORTH 24 DEGREES 19 MINUTES 50 SECONDS EAST A
DISTANCE OF 23.94 FEET TO A #4 REBAR SET; THENCE CONTINUING ALONG THE
LINE OF NIP SWEAT NORTH 64 DEGREES 24 MINUTES 49 SECONDS WEST A
DISTANCE OF 49,31 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIP WALTON NORTH 23 DEGREES 53 MINUTES
54 SECONDS EAST A DISTANCE OF 109,38 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE SOUTHERN RIGHT -OF- WAY OF ELLIS
STREET SOUTH 66 DEGREES 02 MINUTES 11 SECONDS EAST A DISTANCE OF 100.67
FEET TO A #5 REBAR FOUND AND THE TRUE POINT OF BEGINNING AND
CONTAINING 0.28 ACRES (12,170.34 SQUARE FEET)
LEGAL DESCRIPTION 211 & 213 BROAD STREET
ALL THAT LOT OR PARCEL OF LAND, WITH IMPROVEMENTS THEREON, SITUATE,
LYING AND BEING IN THE CITY OF AUGUSTA, RICHMOND COUNTY, GEORGIA,
FRONTING 42 FEET, MORE OR LESS, ON THE NORTH SIDE OF BROAD STREET, AND
EXTENDING BACK BETWEEN PARALLEL LINES A DISTANCE OF 134 FEET, MORE
OR LESS, AND BEING DESIGNATED AS EXHIBIT "B" ON A PLAT ATTACHED TO AN
AWARD OF YEAR'S SUPPORT MADE TO MARY ALICE WISE FROM THE ESTATE OF
J. THOMAS WISE, APPEARING OF RECORD IN YEAR'S SUPPORT BOOK 2-J, PAGE 46,
IN THE OFFICE OF THE CLERK OF SUPERIOR COURT OF RICHMOND COUNTY,
GEORGIA, AND BEING BOUNDED: ON THE NORTH, BY PROPERTY NOW OR
FORMERLY OF T.F. BROADWATER; ON THE EAST, BY PROPERTY NOW OR
FORMERLY OF F.H. CASEY; ON THE SOUTH BY BROAD STREET; AND THE WEST,
BY PROPERTY NOW OR FORMERLY OF B.F. DAVIS.
SAID PROPERTY IS KNOWN AND DESIGNATED AT 211-213 BROAD STREET
ACCORDING TO THE SYSTEM OF STREET NUMBERING CURRENTLY IN USE IN
AUGUSTA, RICHMOND COUNTY, GEORGIA.
LEGAL DESCRIPTION 107 ELLIS STREET
ALL THAT LOT OR PARCEL OF LAND. WITH IMPROVEMENTS THEREON, SITUATE,
LYING AND BEING IN THE CITY OF AUGUSTA, RICHMOND COUNTY, GEORGIA, AT
THE NORTHEAST CORNER OF ELLIS AND FORSYTH STREETS, HAVING A FRONT
OF 40 FEET ON ELLIS STREET AND RUNNING BACK OF EVEN WIDTH 98 FEET,
MORE OR LESS, AND BEING BOUNDED AS FOLLOWS: ON THE NORTH, BY LOT,
NOW OR FORMERLY, OF MRS. KATE V. O'NEALL; ON THE EAST, BY PROPERTY,
NOW OR FORMERLY, OF CHARLES D. CARR; ON THE SOUTH, BY ELLIS STREET;
AND ON THE WEST, BY FORSYTHE STREET.
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118.99 FEET TO THE TRUE POINT OF BEGINNING AND CONTAINING 0.15 ACRES
(6,375.26 SQUARE FEET).
LEGAL DESCRIPTION: 215 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "B" ON AN ALTA/ACSM LAND TITLE SURVEY DATED NOVEMBER 5,
1998, PREPARED BY W.R TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO, 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT OF WAY OF 2ND STREET (R/W V ARIES)
AND ELLIS STREET (R/W VARIES) AND CONTINUING WEST 202.58 FEET :t TO A #5
REBAR FOUND AND THE TRUE POINT OF BEGINNING; THENCE TURNING AND
CONTINUING ALONG THE NORTH RIGHT OF WAY OF ELLIS STREET NORTH 65
DEGREES 57 'MINUTES 17 SECONDS WEST A DISTANCE OF 50.11 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF 219.
AND 221 ELLIS STREET NORTH 24 DEGREES 45 MINUTES 08 SECONDS EAST A
DISTANCE OF 134.87 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF N/F J.C. ANDERSON, JR., SOUTH 66 DEGREES 15
MINUTES 51 SECONDS EAST A DISTANCE OF 49.12 FEET TO A #5 REBAR FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F'SPRADLEY SOUTH
23 DEGREES 23 MINUTES 39 SECONDS WEST A DISTANCE OF 15.91 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF 211
AND 213 ELLIS STREET SOUTH 24 DEGREES 27 MINUTES 11 SECONDS WEST A
DISTANCE OF 119.22 FEET TO THE TRUE POINT OF BEGINNING AND CONTAINING
0.15 ACRES (6,714.64 SQUARE FEET),
LEGAL DESCRIPTION: 219 & 221 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "A" ON AN ALTA/ACSM LAND TITLE SURVEY DATED NOVEMBER 5,
1998, PREPARED BY W,R TOOLEENGINEERS, INe. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT OF WAY OF 2ND STREET (R/W VARIES)
AND ELLIS STREET (R/W V ARIES) AND CONTINUING WEST 252.69 FEET:t TO A #5
REBAR FOUND AND THE TRUE POINT OF BEGINNING; THENCE TURNING AND
CONTINUING ALONG THE NORTH RIGHT OF WAY OF ELLIS STREET NORTH 65
DEGREES 59 MINUTES 23 SECONDS WEST A DISTANCE OF 62.76 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F
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SAID PROPERTY IS KNOWN AND DESIGNATED AS 107 ELLIS STREET ACCORDING
TO THE SYSTEM OF NUMBERING CURRENTLY IN USE IN AUGUSTA, RICHMOND
COUNTY, GEORGIA.
LEGAL DESCRIPTION 133 BROAD STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTA/ACSM LAND TITLE SURVEY, DATED OCTOBER 28, 1998, LAST
REVISED DECEMBER 7,1-998, PREPARED BY W,R. TOOLE ENGINEERS, INC., AND
CERTIFIED BY STEVEN M, HARDY, GEORGIA REGISTERED LAND SURVEYOR NO,
2662 AND HAVING THE FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHEAST RIGHT -OF- WAY OF 2ND STREET (R/W VARIES)
AND BROAD STREET (R/W VARIES) AND CONTINUING EAST ALONG THE NORTH
RIGHT-OF - WAY OF BROAD STREET 40 FEET :l: TO A #4 REBAR FOUND AND THE
POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE LINE OF
N/F !MAN, INC. & N/F BAIN NORTH 24 DEGREES 00 MINUTES 44 SECONDS EAST A
DISTANCE OF 137.92 FEET TO A POINT; THENCE TURNING AND CONTINUING
ALONG THE LINE OF N/F DOWNTOWN AUGUSTA, INC. SOUTH 67 DEGREES 13
MNUTES 30 SECONDS EAST A DISTANCE OF 47.33 FEET TO A #5 REBAR FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F SW ANCY SOUTH 22
DEGREES 54 MINUTES 45 SECONDS WEST A DISTANCE OF 137.97 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE NORTH RIGHT-
OF-WAY OF BROAD STREET NORTH 67 DEGREES 07 MINUTES 49 SECONDS WEST A
DISTANCE OF 49.99 FEET TO THE POINT OF BEGINNING.
LEGAL DESCRIPTION 303 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTA/ACSM LAND TITLE SURVEY, DATED 11/9/98, PREPARED BY W,R,.
TOOLE ENGINEERS, INC., AND CERTIFIED BY STEVEN M. HARDY, GEORGIA
REGISTERED LAND SURVEYOR NO. 2662 AND HAVING THE FOLLOWING METES
AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT-OF-WAY OF 3RD STREET (R/W VARIES)
AND ELLIS STREET (R/W V ARIES) AND CONTINUING WEST ALONG THE RIGHT OF
WAY OF ELLIS STREET 44.0 FEET :l: TO A 3/4 INCH OPEN TOP FOUND 'AND THE
POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE NORTH
RIGHT-OF-WAY OF ELLIS STREET NORTH 66 DEGREES 00 MINUTES 00 SECONDS
WEST A DISTANCE OF 40.31 FEET TO A #4 REBAR SET; THENCE TURNING AND
CONTINUING ALONG THE LINE OF N/FOLDE TOWN PROPERTIES NORTH 24
DEGREES 36 MINUTES 21 SECONDS EAST A DISTANCE OF 132.52 FEET TO A 5/8
INCH OPEN TOP FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE
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OF NIP BROWN SOUTH 65 DEGREES 40 MINUTES 17 SECONDS EAST A DISTANCE
OF 40.48 FEET TO A #5 REBAR FOUND; THENCE T~G AND CONTINUING
ALONG THE LINE OF NIP DOwNTOWN AUGUST A, INe. SOUTH 24 DEGREES 40
MINUTES 52 SECONDS WEST A DISTANCE OF 132.29 FEET TO THE POINT OF
BEGINNING AND CONTAINING 0.12 ACRES (5,347,50 SQUARE FEET).
LEGAL DESCRIPTION 240 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "B" ON AN ALTA/ACSM LAND TITLE SURVEY, DATED 11/4/98,
PREP ARED BY W.R. TOOLE ENGINEERS, INC., AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662 AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT -OF - WAY OF 3RD STREET (R/W V ARIES)
AND ELLIS STREET (R/W V ARIES) AND CONTINUING EAST ALONG THE SOUTH
RIGHT-OF-WAY OF ELLIS STREET 126.98 FEET::I:TO A#5 REBAR FOUND AND THE
POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE SOUTH
RIGHT-OF-WAY OF ELLIS STREET SOUTH 65 DEGREES 58 MINUTES 12 SECONDS
EAST A DISTANCE OF 40.02 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF 238 ELLIS STREET SOUTH 23 DEGREES 13
MINUTES 03 SECONDS WEST A DISTANCE OF 133.97 FEET TO A #5 REBAR FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP DAVENPORT & NIP
BUCKLEY NORTH 64 DEGREES 28 MINUTES 07 SECONDS WEST A DISTANCE OF
40.62 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG
THE LINE OF 246 ELLIS STREET NORTH 23 DEGREES 27 MINUTES 57 SECONDS
EAST A DISTANCE OF 132.90 FEET TO THE POINT OF BEGINNING AND
CONTAINING 0.12 ACRES (5,377.60 SQUARE FEET). ..
LEGAL DESCRIPTION 238 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "A" ON AN ALTA/ACSM LAND TITLE SURVEY, DATED 11/4/98,
PREPARED BY W.R. TOOLE ENGINEERS, INe., AND CERTIFIED BY STEVEN M,
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO, 2662 AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
. BEGINNING AT THE SOUTHEAST RIGHT-OF-WAY OF.3RD STREET (R/WVARIES)
AND ELLIS STREET (R/W V ARIES) AND CONTINUING EAST ALONG THE SOUTH
RIGHT -OF -WAY OF ELLIS STREET 167.00 FEET ::I: TO A #5 REBAR FOUND AND THE
POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE SOUTH
RIGHT-OF-WAY OF ELLIS STREET SOUTH 66 DEGREES 02 MINUTES 19 SECONDS
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EAST A DISTANCE OF 59.85 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF N/F BOLD SOUTH 24 DEGREES 26 MINUTES 51
SECONDS WEST A DISTANCE OF 134.34 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF N/F HAYES & N/F DAVENPORT
NORTH 65 DEGREES 39 MINUTES 41 SECONDS WEST A DISTANCE OF 56.98 FEET TO
A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF
240 ELLIS STREET NORTH 23 DEGREES 13 MINUTES 03 SECONDS EAST A DISTANCE
OF 133.97 FEET TO THE POINT OF BEGINNING AND CONTAINING 0.18 ACRES
(7,836,54 SQUARE FEET).
LEGAL DESCRIPTION 403 AND 405 WALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAJACSM LAND TITLE SURVEY, DATED 11/6/98, PREPARED BY W.R.
TOOLE ENGINEERS, INC., AND CERTIFIED BY STEVEN M. HARDY, GEORGIA
REGISTERED LAND SURVEYOR NO. 2662 AND HAVING THE FOLLOWING METES
AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT-OF-WAY OF 4TH STREET (R/W V ARIES)
AND WALKER STREET (R/W VARIES) AT A P.K. NAIL FOUND THE POINT OF
BEGINNING; THENCE TURNING AND CONTINUING ALONG THE NORTH RIGHT-OF-
WAY OF WALKER STREET NORTH 64 DEGREES 56 MINUTES 55 SECONDS WEST A
DISTANCE OF 100.28 FEET TO A #4 REBAR SET; THENCE TURNING AND
CONTINUING ALONG THE LINE OF N/F ZARGE NORTH 24 DEGREES 19 MINUTES 28
SECONDS EAST A DISTANCE OF 90.16 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF N/F NAOMI SOUTH 64 DEGREES
34 MINUTES 02 SECONDS EAST A DISTANCE OF 100.20 FEET TO A POINT; THENCE
TURNING AND CONTINUING ALONG THE WEST RIGHT-OF-WAY OF 4TH STREET
SOUTH 24 DEGREES 15 MINUTES 59 SECONDS WEST A DISTANCE OF 89.49 FEET TO
THE POINT-OF-BEGINNING AND CONTAINING 0.21 ACRES (9,002.57 SQUARE FEET),
LEGAL DESCRIPTION 246 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "C" ON AN ALTAJACSM LAND TITLE SURVEY DATED 11/4/98, PREPARED
BY W.R. TOOLE ENGINEERS, INC., AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO, 2662 AND HA VING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT -OF - WAY OF 3RD STREE}' (RIW VARIES)
AND ELLIS STREET (RIW VARIES) 82 FEET :I: TO A #5 REBAR FOUND AND THE
POINTOF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE SOUTH
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RIGHT-OF-WAY OF ELLIS STREET SOUTH 66 DEGREES 03 MINUTES 40 SECONDS
EAST A DISTANCE OF 44.98 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF 240 ELLIS STREET SOUTH 23 DEGREES 27
MINUTES 57 SECONDS WEST A DISTANCE OF 132.90 FEETTO A #5 REBAR FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F BUCKLEY AND N/F
UPTON NORTH 63 DEGREES 21 MINUTES 26 SECONDS WEST A DISTANCE OF 47.75
FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE
LINE OF N/F DOWNTOWN AUGUSTA, INe. & N/F OSBORN MANURE FARM, INC.
NORTH 24 DEGREES 38 MINUTES 58 SECONDS EAST A DISTANCE OF 130.65 FEET
TO THE POINT OF BEGINNING AND CONTAINING 0.14 ACRES (6,106.09 SQUARE
FEET).
LEGAL DESCRIPTION: 202 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY DATED 10/9/98, PREPARED BY W. R.
TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M. HARDY, GEORGIA
REGISTERED LAND SURVEYOR NO. 2662 AND HAVING THE FOLLOWING METES
AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHWEST RIGHT -OF- WAY OF ELLIS STREET (R/W VARIES)
AND 2ND STREET (R/W V ARIES) AT A #5 REBAR FOUND AND THE POINT OF
BEGINNING; THENCE TURNING AND CONTINUING ALONG .THE WEST RIGHT -OF-
WAY OF 2ND STREET SOUTH 24 DEGREES 25 MINUTES 54 SECONDS WEST A
DISTANCE OF 71.83 FEET TO A 1/2 INCH OPEN TOP FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF N/F YORK & LLOYD NORTH 65 DEGREES 40
MINUTES 10 SECONDS WEST A DISTANCE OF 51.35 FEET TO A 1 INCH CRIMPED
TOP FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF 204 ELLIS
STREET NORTH 24 DEGREES 43 MINUTES 55 SECONDS EAST A DISTANCE OF 71.53
FEET TO A 60d NAIL FOUND; THENCE TURNING AND CONTINUING ALONG THE
SOUTH RIGHT -OF- WAY OF ELLIS STREET SOUTH 66 DEGREES 00 MINUTES 00
SECONDS EAST A DISTANCE OF 50.98 FEET TO THE POINT OF BEGINNING AND
CONTAINING 0.08 ACRES (3,667.15 SQUARE FEET).
LEGAL DESCRIPTION: 204 ELLIS STREET
ALL THAT LOT OR PARCEL OF LAND, WITH IMPROVEMENTS THEREON, SITUATE,
LYING AND BEING IN THE CITY OF AUGUST A, RICHMOND COUNTY, GEORGIA, ON
THE SOUTH SIDE OF ELLIS STREET BETWEEN SECOND ANP THIRD STREETS, AND
FRONTING 47 FEET ON THE SOUTH SIDE OF ELLIS STREET AND EXTENDING BACK
OF EVEN WIDTH 132 FEET, MORE OR LESS, TO A REAR WIDTH OF 47 FEET. THE
EASTERN BOUNDARY LINE OF SAID LOT AT ELLIS STREET IS LOCATED 50 FEET
WEST OF THE SOUTHWESTERN CORNER OF THE INTERSECTION OF ELLIS STREET
AND SECOND STREET. SAID PROPERTY IS BOUNDED AS FOLLOWS: ON THE
26
F:\Documents\PRC\white oak\LEGAL DESCRIPTIONS.COMBINE4.doc
NORTH, BY ELLIS STREET; ON THE EAST, BY PROPERTY NOW OR FORMERLY OF
BADGER; ON THE SOUTH, By" PROPERTY NOW OR FORMERLY OF MURPHEY; ON
THE WEST, BY PROPERTY NOW OR FORMERLY OF HARRISON,
SAID PROPERTY IS KNOWN AND DESIGNATED AS 204 ELLIS STREET ACCORDING
TO THE SYSTEM OF STREET NUMBERING CURRENTLY USED IN AUGUSTA,
RICHMOND COUNTY, GEORGIA.
LEGAL DESCRIPTION: 306 2ND STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY DATED NOVEMBER 5, 1998, LAST
REVISED DECEMBER 7,1998, PREPARED BY W. R. TOOLE ENGINEERS, INC., AND
CERTIFIED BY STEVEN M. HARDY, GEORGIA REGISTERED LAND SURVEYOR NO.
2662 AND HAVING THE FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT -OF - WAY OF ELLIS STREET (RJW VARIES)
AND 2ND STREET (RJW VARIES) AND CONTINUING SOUTH 39 FEET:t TO A #5_
REBAR FOUND AND THE POINT OF BEGINNING; THENCE TURNING AND .
CONTINUING ALONG THE LINE OF NfF PETTIGREW SOUTH 70 DEGREES 47
MINUTES 28 SECONDS EAST A DISTANCE OF 82.81 FEET TO A 1 1/2 INCH OPEN TOP
FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF NIF RAMBO &
NfF WEATHERS SOUTH 19 DEGREES 27 MINUTES 24 SECONDS WEST A DISTANCE
OF 43.62 FEET TO POINT; THENCE TURNING AND CONTINUING ALONG THE LINE
OF NfF WRIGHT NORTH 70 DEGREES 15 MINUTES 37 SECONDS WEST A DISTANCE
OF 19.31 FEET TO A POINT; THENCE TURNING AND CONTINUING SOUTH 18
DEGREES 57 MINUTES 16 SECONDS WEST A DISTANCE OF 4.58 FEET TO A POINT;
THENCE TURNING AND CONTINUING ALONG THE LINE OF NfF WRIGHT NORTH 70
DEGREES 43 MINUTES 46 SECONDS WEST A DISTANCE OF 65,26 FEET TO A PUNCH
IN CONCRETE; THENCE TURNING AND CONTINUING ALONG THE EAST-RIGHT -OF-
WAY OF 2ND STREET NORTH 21 DEGREES 31 MINUTES 05 SECONDS EAST A
DISTANCE OF 47.98 FEET TO THE POINT OF BEGINNING.
LEGAL DESCRIPTION: 515 3RD STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
. RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAI ACSM LAND TITLE SURVEY DATED 11/4/98, PREPARED BY W, R.
TOOLE ENGINEERS, INC., AND CERTIFIED BY STEVEN M. HARDY, GEORGIA
REGISTERED LAND SURVEYOR NO. 2662 AND HAVING THE FOLLOWING METES
AND BOUNDS TO WIT:
27
F:\Documents\PRC\white oak\LEGAL DESCRIPTIONS.COMBINE4.doc
BEGINNING AT THE NORTHWEST RIGHT-OF-WAY OF WALKER STREET (R/W
V ARIES) AND 3RD STREET (R/W VARIES) AND CONTINUING NORTH ALONG THE
WEST RIGHT-OF - WAY OF 3RD STREET' 61.59 FEET :t TO A #4 REBAR SET THE POINT
OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE LINE OF NIF
FLANAGAN NORTH 66 DEGREES 25 MINUTES 27 SECONDS WEST A DISTANCE OF
73.64 FEET TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE
LINE OF NIF WIGGINS NORTH 23 DEGREES 44 MINUTES 48 SECONDS EAST A
DISTANCE OF 46.83 FEET TO A 5/8 INCH OPEN TOP FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIF RICHARDS SOUTH 65 DEGREES 55 MINUTES
31 SECONDS EAST A DISTANCE OF 73,39 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE WEST RIGHT-OF-WAY OF 3RD STREET
SOUTH 23 DEGREES 26 MINUTES 22 SECONDS WEST A DISTANCE OF 46.19 FEET TO
THE POINT OF BEGINNING AND CONTAINING 0.08 ACRES (3,419.07 SQUARE FEET).
28
F:\Documents\PRC\white oak\LEGAL DESCRlPTIONS.COMBlNE4.doc
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14
EXHIBIT C
CONTRACTS
1. Rehabilitation Manual for OldeTown Apartments dated May, 1998 prepared by Spencer
Maxwell Bullock Architects ("Plans and Specifications")
2. Architect's Contract between Olde Town Associates, L.P. and Spencer Maxwell Bullock
Architects
3. Construction Contract.
e
Development Budget
-
"
proJect: Olde TOwn Apanmer.ts
Development Uses Budge1
3udg~\ !I<\m AOOiicam U~dilr....:iter ?erUnil
I...:Ind 24~.OOO ~4Q.OCO 2.1.17
=xiSTing Eluildlng:l 1,481,OCO 1.<131.000 1~.7h7
~$!S~I: ,c..cquisition 0 0 0
Ctner. Knox - De!:t . 178,000 176.000 1,534
Subtotal A~qui$ition 1,908,000 1,90B,OOO 16,448
Off-Site ImprOVemGMll 314:0CO 314.Coo 2.i07
LaundryfCommunity'amenitj, 130,OC{) 130,COO 1,121
3~ Sistel'3 420,OCO 420.000 3,e2~
Utilities Installation 0 0 0
mreers. Walk::, ?ar.~ng 0 0 0
Land Sc"ping, Lighting 0 O. 0
Pro)ser Amentles 0 0 0
COnstruc:tionffiQhab 1.776.145 1.776,14$ 15.312
CensiNction Contingijf\ey , 88.310 188.310 1./i23
SIl\::rtot;11 Con"tru~on 2.928.455 2,3:1S.455 24,383
B~lders CVerhead 57.:0~ 57,560 4G6
General Req1.:irQlTlents 172,707 172.707 1,480
Perfoln'l$J'lCS Bond 35,000 25,000 302
Builder's Profit 172,707 172,707 1,489
SUbtot:ll Buildef ~ Costs ol37.~ o!3i" .saa 3,77G
Zonillg/Sile Plan Fe~ c 0 0
W:lterTap Fees 0 0 0
SCl'ller Tap Fees 0 0 0
Impact Fees 0 0 0
Building Permil~ 50,000 60.000 43t
Real Es:ate Tax<:s 30,000 30,000 259
011'141': 0 0 0
SulrtofDl Gov't F~ 80,000 80,000 690
.'I.rcniteetural Design rei,OOO 75,000 6-47
A.r~l-j\aelUraJl tnspectiOl'l 25,000 25.000 216
Enq & Erniron. 0; 103,000 103,000 aaa
Indl::pendent In:;pection m 0 t S, 000 12Q
L~gal Reserve Fund:untQn'f 0 0 0
Survey 28.000 26,000 241
Leger: GSl'lOral 200,000 200,000 1.724
Accounting 40.000 40,000 345
Appraisal (Indu~ Wi~e rsvil tO,OOO 11.575 100
. Mar1<et Study 18,000 16,000 155
Other. Insuratl~e tlilllil &. 100,000 100,000 ~
builders riSk4Ol60 respectivlv)
Subtgtal !:lev. Services 599,000 615,575 .5,307
. Apprllve~ By:
Date:. _
EXHIBiT
8udget Illilm Applic.:.'U1t Ul'dc;w~llr Poi- Unit
Pe:manen: Loan Fees C 0 0
Cc/".s:t'JC!ion Loan Fees 0 0 0
Interim !ntereGt 22.432 22,432 193
Equity Brid;:: Loan Fee 0 0 "
~
~quity sMge Loar. Inlere:il H)1,:;OC t61,5oo 1,3G2
Bond Issuance Co$! 0 0 ::
DCA LG~n ApprlCaiion Fee 0 0 C
Tax CredIt Appl1catlcn Fee 4,500 4,500 :i~
Tax Credit Res. Fee.... :38,~29 42.g8 363
Tax Cradit Compliance Fa", 139,600 59.600 60e
Tax Credit :.egal Opinion 0 0 0
F'artner3hip Otganf;atlon () 0 0
~6gaIFQQ~ F:nanc~ 0 0 0
Other: Insuranell 0 0 0
eubtoti1l Financing 296,G61 3OD,nO 2,588
Marketing 75.000 7~,OCO 647
O~.rating Cefioit Roo. ..... 0 49.525 427
Othor:Worl<ing Capito\! Rosel 10??oo 100000 862
Other. Ptel<X;aiion 80,000 so,ceo 600
Subtotal M\SCSUanecUS 2!5,OOO 3l)4,S2S 2.625
C~velo;ler's Fee 911.635 ~1 1,635 7,959
Tot.ll Uses 01 Fund3 7,316.$341 7,386,3531 ~,G75
CQnstnlCtion To~ 6,235,3$9 6.325,193 54.528
DevelOPer's F&&s:
Maximum 933,S5a
Proposa<:! 911.1535
Below Uax Zl,223
150/.
Menitcring Fees;
Nor'm:ll
P.-iMA
Foo Used:
69,600
17,400
2a.sOO
. Wacho\Wl(~ox debt ir1c=.sad Icom $150,000 17!M! ilIIdget'
ttI $178,000 (713OJ98 buclQen.
.. I~reased .from $75,000 (7/6/98 budggt)
to $103,000 (7l3Oi98 bUdget).
n' Replesenli 1M-,IMPeclion @2visits per mo.$1500x10 mo.
period. The line item ~ was adjusted (dQCreaseCf) accornfngry
.... T(ll( CrAdit RQl:.Fee adjus:ad (Increased). The lin~ item
""nrk"li,,~ wa~ adjustAd (dllCr;ased) accordingly.
. ..... QuA tepre:;en'..'S 4 Ino.o/ ;ot~ sac. dcllt (tIOME + C~i,
.TI\~ lnOitem ~.\Vas adjusted (dec.'ll1l.:lCd) ~eCOll1lngly.
])
EXHIBIT E
PLANS AND SPECIFICA nONS
1. Rehabilitation Manual for Olde Town Apartments dated May, 1998 prepared by Spencer
Maxwell Bullock Architects
Ol(le TOWll Associates, L.P.
'Mny IS, 1998
Ms. Gwcn Webb
Georgia Departmcnt of Community ^ /Tail's
Office of Affordablc Ilousing Developmcnt
60 Executive Pmk South N.E.
Atlnntn, Georgin 30329
Rc: Olde Town ^pnrtlllcnts
1197 -012
Dcnr Ms. Wcbb:
';' .
Suile 206
222 Clcl11nlis Slrcct
West Pnll11 Dcneh, rloridn 330101
Tclephone 56 t .838,81\86
rnesil11i1c 561.838.8887
'.)A
~~v! ,~~~I
V~~J ~\, I
.~~'I
Encloscd please find an ^flinnativc' Ji'hir I lousing Marketing Plan prcpmed for the above referenced
project. With rcspect to the MI3E1WBE Outreach Plan, please be advised that the Managing General
Pnrlncr. White Oak Rcal Estntc Developmcnt Corp. is, itself, 11 WBE. As indicated in the application,
Pnula J. Ryan owns 90% of the corporation's shares. Any olhcr MI3E/WBE Outrcach will be done 011
site, during the bidding process. .
Please don't hesitatc to callmc if you have any questions or nccd additional information.
Thank you for your considcration.
Sincerely,
WI liTE OAK RE^L ESTATE DEVELOPMENT CORP.
ing Gcneral Partncr .
~~
cc: Thercsa IIill
gwr.n wr.hh5-15
EXHIBIT- -'r<-.:
,~'Ia~ Ie uu Ue: ~ljp
1'1 a ria Va z 9 u e z
JU5-59U-5740
p.2
n~/nli1398 e2:~J
dOJ.. ~Jl-Jlli..~
r~y.c -Co TLI'\tIT ~
PAGE 02
~ttirmative Fair Housing
~a..ketlng Plan
v;s. o.,:n.rtrhunt of HousIng
IInd UttMln o.-v.lnpmont
Ofllce 01 F4lr Housing and Equal Oppol1un~v
a. /v1rJfiC1lm. H""'.. 11{1rJ'" (1nCI""l<1g dt)', Shot.
OIde Town Associates, L.P.
222 Clematis Street, Suite
West Palm Beach, FL 33401
561-838-0886
b. ~., 1-1_. l.OOIbO/l: ~rc:1u0lng dIy. &tInl ~ l~ ClO<J4)
OIde Town Apartments
Augusta, Richmond County, Georgia
30901
206
ONB~OI t-ao. 252l)..C013 (''''p. lOOt/!
, C. Pro/~CXf^wlk31llOn ~ '01 Numt>tt 01 III ,.. Prlca or RenlllJ ~.
F~'299. 00
97-012 116 ~. 573.00
II. For MJItllamlly HauCInQ aNy , a. . SIar1Ir<Q UI.'..:
o EIdOfty @ No....~ ~~.Ju 1 y 15
-~ ~ ~August 1
~-.:...ou",y: R 1 c h mo n d ] ,l Cenaus lrllCl: 6
11. J-W14OIOQIS4ltM'Iownl'll NIlIne ~.: (\"dlldl"Q my. Staluna 211) cOO.)
Pinnacle Realty Management Company
]117 Perimeter Center West, Ste W211
Atlanta, G~ 30338
t. TJI'I of AlIlrllm," M.,te(1Ilj P'lM: {me1l 0lVy on.1 . 3. ~IQ" al IIUIaAtI . ( II a I) ., "'. """".,....
. D ..... ....... ~ " ~ lOr .,. IlotnI WIg '-.It. qI ~ IOODGot1I11'111 Ollllll' 'IICtorl WlVIOIIl
3 ProJ.c1 rlen [iJ Mnorny ~ 'Mil., (flOP\.IT'Ilnofll'f1 ArM $p<<I1lI OUtJUdl wflon.) .
"'K'd AtN. (wilh h (l % mInorlTy l1MIIdonin) B Wh/", (nM-~ 0 BtQ,(:tqnorH"~. [XJ Hl~n1e
Annual Pl&n (lor 'WlOI.~ '~rf.1(f tIl, UI1ll., ~: ~ UOllrllt1\muel/'lwl "'............n IndWI bf ~ N~ 0 ~ Of ~fldllc 1a1lu~fIf
/I'III1C~cS<I_~lai UCtll'fll'l 01 oenoU&~'I\'M'lICI\'" houI~ 1110 ~ buill. ,'............
!:-""''''''"CI. ,.,.."'.....: Co.."n1lni[~ "-~iii ~ 1M<l", lo ~ u..... NtV ... .." cnullwblITy ot Itwa r.au.lngj .
.iJ NOWf~~~lCQtlon' UI'tIIdo . LJrv D8llIboGldy []o.t.Gt (oOtcIty) .
~ N~'~_."".",>v_ 1-= _"'..m_~.rA- I .'-~_''''
;~. SEE~. 1\TTA~~HED g. .. ~
= :--- = 1-.
.... ~"'i. ~.,. m,b,_. ...... ... ."0', 'd, H '" P,..,
I WVl bmchumo, loiter.. ... "-ndovta ~ lllI.., 11:I ~07_ ~y" . 0 No It '"Yos'. tlltnd11l eopy Of' Wbml1 when avallnblQ.
) F Of ~ .11. tlpn. Indlea lill 'ig1\1I1Z" .l..U..!.- l( ....5.. I .' '" . ~ iliq 1'. x --L!.-. Albcft. ~apI1 of prol9Ct SlQr1 or .\lbm when :I\I2itablo
I HUC', Filer Ho\.l:tlng PMIIJ( must bo C~~1y dIcJ~O<1 ~er aalestt.nllllt "nClII~ ~ pCaoo. Fair Houslng ~ wet be d~\ey&d In lne
'[K] S"","IInlllll 0ffI~ D"". Emto Otfloe f!C] ~ Un. 0 OthQr CtPOC/lyl . .
. 011171"""'1/1)' Canr,~. To lullllar lnlOmlltlt ~~.) WlUiy II) lIQlIy ICXlUI ~ .Ycila.t\ll~y Of ",..,unng.... 8p5lllcanl1lO'''''' n1atlllalllll'Cl t1Wf\W" COnl8al.lt\ "'.
,.~ --. · (1~ ~ lh&I .. IOOalIClII'I rr.. /lQuang mettal II! - Of 8 MeA. II mot 41 'PlIC* " ntld ad, III1IIalIt'l tadlllor>ll tlIaL Hocty HUO-F H EO at ally """'0" 10 lhl
l "rf8me COlly (If 00IT"1lOr'I1~ lo ~ /MIl"" lO "'n, ~lInIUOOn.. (~. IIn 'AqUMIIl(lIn~.,
x
X
- N-. Q! O~~~1ofr. l=~~ ~ t(lMUlOed Of 10 ll. ConllC1eo:
- . .kt.cvll~: Or'"",lf 0"'11:
---SE F' .ll'T''T'llC'Hf;'n ;
I -
-'
.. .
Ad!!,." I """". NUt'I1to",: I ~orCQ"'''':': ItI ~""""'1In1l ~I fI\4Il(~ ",,,,,ram:
-2 -
I .'
F\Ilvre 1Ib1tce(1"f "OIMt,... (R.n11lf UnIII Only) u.",.,.. l)01C(I)"" lIftl cMsa'Clll e. ~.mno.."., ~lf ~ (9.. '''",vClJor''l
.....,..vog KtIV1ft... IQ 111I vacancl" U m.., lXQ.lr .rlllt Il'Ie ll"'l.el I\M bMn In4llIs ry llCO.JpI.d. e.a. ~ tu~. fiW,- ONo
j HGweP"Cl.n,p\ltllicallana 0 RAIl),) Brv iXl~chur9S'l.M1li1l!lll11en<1olJtg t:lI. 0r1 ~.. "'-. halQat. ...,~ 10 blllnlWIea 10 IlJ:I'l on FIlIfOttI. SlIlIo
SllII ~. ill Corm1\11l11)' Con!adlr Ol~(.~l foIllS IOo8Illllt~ \eM MCl~.. ...11 u t11114F'HM Plan. "can
· O<lpf 01 .,. ..,.~ b ,1a1I '*08fIS"Q lW, 1loUaItlo.
1\~Il\ln&l CN\t'''"IIo,.. Allow:11 ~I~ 1111..,. 's M..,..,.
Chcncr-.ttd I'Ift'M1ollol, By tlgnin; IIlIa 1Orm. 111, applicant ~. "".. fIlD<CQri,ar.
~ ~Itl HUO. III c:.twng. eny part CC ~ llL'm --Wlr\O _ "'l.Mftr'oltj DftIj eel 10
...... CllI\1lt'ou9O ~tanea WI Itl S ~M 2tl o. e 20 of H U Ch AU,""""... F IIr Hov rJng
~ I. .
.
Plan
t'nmtt: llyn. ot Ofl"')
Mo<hr !!~lfOOlI ... 0'" ole to
DC _
PER~
I n~o:
"-- "" .t1..~" "'" ,....._....
IId~ !c. ~U Uc:.;~(P
llarla Vaz9uez
JU~-5~U-!:i'74U
p.4
I. The ili!g!.lsta Chroni~1e: Black/Hispanic
P.O. Box 1928
Augusta, Ga. 30913
Exec. Editor: Dennis Sodomka
Managing Editor: lohn Fish
Editorial Page Editor: Phil Kent
Phone: 706-724-0851
Fax: 716-722-7403
2.
Ausmsta ShQJ~per:
1519 North Leg
Augusta, GA 30909
Editor: John Peters
Dlack/1 li~panic
3.
Th~ !\1etr<L.C.muiCL
P.O. Dox 2385
Augustn, GA 30903
Editor: Darbara Gordon
Phone: 706-724-6556
Fax: 706-722-7104
D111ck/Hispanic
.j:'
One week per month in a daily newspaper and three
weeks per month in a weekly newspaper to begin July 1.
All ads will bave fair housing logo (or at least the size of
3"x 1 U column width). Logo will be sized pcr HUD .
marketing guidelines for size of ad to logo.
. :'
. I
. . . ~. .I. l.J ....... I...;......
au.J v......... ...J I IU
,.,...J
Nllme of Group/Oreanizatiuo:
(ommultlty Action Agency
1261 Green Slreet
^l1gu!;t, Ga. 30901
Tel: 706-722-0493
Fax: 706-722-8565
Executive Director: Gloria B. Lewis
TIley bave been contacted in person on May 10th, they vvill be recontncted on July 1.
Fliers and brochures will be left at the office for the office to give to clients utilizing the
agency's services.
Type of clientele expected to be reached through this marketing effort is mixed (all racial
groups).
They will help identity residents and refer them to the property. .
Whole Life Ministries
2621 Washington Road
AUgu!;t3, Ga. 30904
Jose Serrano -lIispanic Pastor
Sandra Kennedy - Seniot Pastor
Tel: 706-737-4530
Fax: 706-737-4113
~:.
They have been contacted in person on May t Oth, they will be recontacted on July 1.
I-liers and brochures will be left at the 'office for the office to' give to clients utilizing the
agency's services.
Type of clientele expected to be reacbed through this IlUlrketing effort is mixed (all racial
groups) and specifically Latin.
They wiJl help idenlify residenls and refer them lo the property.
. . H<2::1- 12 98 10: 25a
Maria Vaz9uez
305-598-5740
p.32
United Way of the Central Smiannah
River Area .
630 Ellis Street
P.O. Box 1724
Augusta, Ga. 30903
Tel: 706-724-5544
Fax: 706-724-5541
This agency and the support agencies will be contacted both via letter and in person
whenever possible. Fliers and brochures will be given to each agency by July 1.
Targeted clientele is mixed, (all racial groups) some ofthc support agencies will focus on
specific target groups, i.e., seniors, Latin, etc.
They will help identify residents and refer them to the property.
Grace Community Mental Healllt Center of Augusta
2021 Scott Road, Suite 250
Augusta, Ga. 30906
Tel: 706-796-6555
Fax: 706-796-0333 -to
Isaac Johnson, Administrator
Preliminary contact will happen in June. Fliers and brochures will be left with office for
use of clients utiliring services. June 15th personal contact will occur.
Targeted clientele is mixed (all racial groups).
They will help identify residents and refer them to the property.
Pagf' ~c!)tf;;; /
-~
." - .-"
.....
'.
BORROWER'S AFFIDAVIT AND CERTIFICATE
LENDER:
Augusta, Georgia
Augusta, Georgia
BORROWER:
Olde Town Associates, L.P., a Georgia
limited partnership, 322 Banyan Blvd., West
Palm Beach, Florida 33401
LOAN:
A maximum of $1,137,000.00 from Lender to
Borrower (the IILoanll), secured by real
property located in Richmond County,
Georgia, and other collateral
LOAN DOCUMENTS:
The Promissory Note, one or more Deeds to
Secure Debt and Security Agreements,
Rehabilitation Loan Agreement and all other
documents executed or delivered in
connection with the Loan or that evidence or
secure payment of the Loan
Being first duly sworn, Paula J. Ryan (the "Affiant II), in
order to induce Lender to make the Loan and any title insurance
company to insure the priority of Lender's Deed to Secure Debt
and Security Agreement, hereby certifies as follows:
1. Affiant is the President of White Oak Olde Town,
Borrower's managing general partner, and Affiant is
authorized to make this Affidavit for the above purposes.
Inc. ,
duly
2. Borrower- has furnished Lender with true and correct
copies of Borrower's partnership agreement (as amended) and
certificate of partnership, the general partner I s Articles of
Incorporation and bylaws, and certificates of existence from the
Georgia Secretary of State for Borrower and the general partner.
3. Borrower has been properly formed and is validly
existing under Georgia law and has the power and authority to
borrow money from Lender, encumber its property, and execute and
deliver the Loan Documents. All partnership action necessary to
authorize the Loan, the encumberance and assignment of
Borrower I s property in' favor of Lender, and the execution and
deli very of the Loan Documents has been taken, and the Loan
Documents have been properly executed and delivered to Lender.
All corporate action by the general partner hecessary to
\,
authorize the execution and delivery of the Loan Documents by
the persons doing so has been taken, and the persons who signed
the Loan Documents are duly elected officers of the general
partner and serve in the offices indicated by their signatures.
4. Borrower is the owner in fee simple of the real
property described in the attached Exhibit A (the II Property II )
subject only to those matters set forth in the attached Exhibit
B (the IIpermitted Encumbrances") .
5. Borrower is in actual, open, notorious, and exclusive
possession of the Property, and no other person has a right, or
claims a right, to possession or is in possession of all or any
part of the Property, except as may be set fo~th in the
Permitted Encumbrances and except as set forth in paragraph 14.
6. There are no outstanding debts or obligations that are
secured by a security deed, mortgage, or lien of any nature
encumbering the Property, except as may be set forth in the
Permitted Encumbrances. Borrower has not received any notice or
claim of lien for the Property.
7. The boundary lines and corners of the Property are
located as described in Exhibit A, and there are no disputes
about the location of the lines or corners. There are no
encroachments on the Property, except as indicated on the
individual surveys of the parcels making up the Property.
8. There are no suits, proceedings (judicial or
administrative), judgments, or executions of any nature pending
or threatened against Borrower.
9. During the 95 days preceding the date of this
Aff idavi t, no labor has been performed on the Property and no
materials have been delivered to the Property; or, if
improvements or repairs have been made to the Property during
that period, there are no unpaid bills for labor or materials
used in making those improvements or repairs. There are no
unpaid bills for the services of architects, surveyors, or
engineers used in connection with the Property.
10. All bills for water, e1ectric, gas, and sewer services
supplied .to the Property have been paid in full.
11. Personally and on behalf of Borrower, Affiant
certifies that all financial statements given to Lender in
connection with the Loan accurately and fairly present the
financial condition or results of operations of Borrower as of
2
F:\Documents\CAR\ White Oak\Olde Town\city. borrower.affid.doc
the date of the statement" or for the period covered by the
statement, and there has been no material and adverse change in
Borrower!s financial condition since the date of the latest
financial statements given to Lender.
12. (a) To Affiant's best knowledge, the Property is not
in violation of or subject to any existing, pending, or
threatened investigation or inquiry by any governmental
authority or any remedial obligations under any applicable laws,
rules, or regulations pertaining to health or the environment,
including the Comprehensive Environmental Response, Compensation
and Liability Act of 1980 and the Resource Conservation and
Recovery Act of 1976. Affiant knows of no facts, condition, or
circumstance that could result in any such investigation or
inquiry if such facts, conditions, and circumstances were fully
disclosed to the applicable governmental authority. (b) Borrower
has not obtained and is not required to obtain any permits,
licenses, or similar authorizations under any environmental
laws, rules, or regulations in order to rehabilitate, occupy,
operate, or use any building, improvement, fixture, or equipment
in connection with the Property or improvements to be
rehabilitated on the Property. (c) Affiant has no knowledge of
any oil or petroleum products, toxic or hazardous substances, or
solid wastes having been disposed of, existing on, or released
on the Property, except for asbestos and lead paint.
13. As of the date of this Affidavit, Borrower is not a
party to any bankruptcy, reorganization, receivership, or
insolvency proceeding, criminal act, or criminal enterprise, and
no such action is contemplated by Borrower or threatened by
someone else, No part of the Property has been taken in
condemnation, government seizure, civil forfeiture, criminal
forfeiture, or similar proceeding, and there is no such
proceeding pending, threatened, or known to be contemplated.
14. No person or legal entity except Borrower and tenants
under existing tenancies or leases for individual apartments has
any right to possession of the Property.
15. Borrower has not engaged the services of any real
estate broker in connection with the loan from Lender or any
other transaction a~fecting the Property. Borrower has not
received any notice from any real estate broker or agent
claiming or asserting a lien for services rendered in connection
with such a loan or transaction.
16. All taxes, charges, and assessments levied and
assessed against the Property that are due and payable as of the
3
F:\Documents\CAR\ White Oak\Olde Town\city. borrower.affid.doc
"
date of this Affidavit have been paid, and,
knowleqge of Affiant, no assessments are pending.
to the best
17. There are no easements or claims of easement that do
not appear of public record.
4
F:\Documents\CAR\ White Oak\Olde Town\city.borrower.affid.doc
"
18. Affiant hereby states that the foregoing statements
are true and correct to the best of Affiant's personal knowledge
after a reasonable investigation of the matters.
Sworn to and subscribed
before me this ~?
day of December~
~ L~
No,~ary~1
r
~.' ....~ . i r:: r '
.......'<> r:;, - .' }
~,'" . ''/' U~{otarial Seal]
f,~"" ,..: ., ~~ '-
~ "~"/~~'\ .........~~
::~ ~\../ r~.;;:"'~
- ~: ~ ....NO~1~~~lle~Wi"ni'l:;t~ Ccun~J. G-::c,;-gla.
c:' . " ~kTccmm!;!'a:~ $:jJ:(i:;! Au,:,zuot 2, 1ew.
,.;.' " :;-.' {I, ' .. '-::c, ':'
~~""~'~ ::::
. ir:-:. .-..........~..F-:.,"\' --<:'
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5
F:\Documents\CAR\ White Oak\Olde Town\city.borrower.affid.doc
'/ .
EXHIBIT" A " .
LEGAL DESCRIPTION 20 & 22 WALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT liB" ON AN ALTAlACSM LAND TITLE SURVEY DATED NOVEMBER 17,
1998, LAST REVISED DECEMBER 7,1998, PREPARED BY W.R. TOOLE ENGINEERS,
INC. AND CERTIFIED BY STEVEN M. HARDY, GEORGIA REGISTERED LAND
SURVEYOR NO. 2662 AND HAVING THE FOLLOWING METES AND BOUNDS TO WIT:
. BEGINNING AT THE SOUTHEASt RIGHT-OF - WAY OF SIBLEY STREET (RIW
V ARIES)AND WALKER STREET (R/W VARIES) AT A #5 REBAR FOUND, AND THE
TRUE POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE
SOUTHERN RIGHT -OF - WAY OF WALKER STREET SOUTH 66 DEGREES 35 MINUTES
34 SECONDS EAST A DISTANCE OF40.01 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF 14 & 16 WALKER STREET SOUTH
22 DEGREES 56 MINUTES 15 SECONDS WEST A DISTANCE OF 127.54 FEET TO A
POINT; THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F SEIGLER__
NORTH 67 DEGREES 43 MINUTES 04 SECONDS WEST A DISTANCE OF 40.03 FEET TO
A POINT; THENCE TURNING AND CONTINUING ALONG THE EAST RIGHT -OF- WAY
OFSIBLEY STREET NORTH 22 DEGREES 57 MINUTES 00 SECONDS EAST A
. DISTANCE OF 128.32 FEET TO THE TRUE POINT OF BEGINNING.
LEGAL DESCRIPTION 14& 16 WALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "A" ON AN ALTAlACSM LAND TITLE SURVEY DATED NOVEMBER 17,
1998, LAST REVISED DECEMBER 7,1998, PREPARED BY W.R. TOOLE ENGINEERS,
INC. AND CERTIFIED BY STEVENM. HARDY, GEORGIA REGISTERED LAND
SURVEYOR NO. 2662 AND HAVING THE FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT -OF - WAY OF SIBLEY STREET (RJW V ARIES)
AND.WALKER STREET (RJW VARIES) AND CONTINUING EAST ALONG THE
SOUTHERN RIGHT-OF-WAY OF WALKER STREET 40.01 FEET TO A #5 REBAR
FOUND, AND THE TRUE POINT-OF -BEGINNING; THENCE TURNING AND
CONTINUING ALONG THE SOUTHERN RIGHT -OF- WAY OF WALKER STREET SOUTH
66 DEGREES 38 MINUTES 45 SECONDS EAST A DISTANCE OF 39.95 FEET TO A 1/2
INCH OPEN TOP FOUND, THENCE TURNING AND CONTINUING ALONG THE LINE
OF N/F PRICEY SOUTH 22 DEGREES 55 MINUTES 04 SECONDS WEST A DISTANCE
OF 128.87 FEETTO A POINT; THENCE TURNING AND CONTINUING ALONG THE
LINE OF N/F SEIGLER NORTH 64 DEGREES 44 MINUTES 13 SECONDS WEST A
DISTANCE OF 40.02 FEET TO A POINT; THENCE TURNING AND CONTINUING
ALONG THE LINE OF 20 & 22 WALKER STREET NORTH 22 DEGREES 56 MINUTES 15
SECONDS EAST A DISTANCE OF 127.54 FEET TO THE SOUTHERN RIGHT-OF-WAY
OF WALKER STREET AND THE TRUE POINT-OF-BEGINNING.
LEGAL DESCRIPTION: 101 WATKINS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY, DATED OCTOBER 20, 1998, LAST
REVISED DECEMBER 7,1998 PREPARED BY W.R. TOOLE ENGINEERS, INC. AND
CERTIFIED BY STEVEN M. HARDY, GEORGIA REGISTERED LAND SURVEYOR NO.
2662 AND HAVING THE FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT-OF-WAY OF WATKINS STREET (RJW
VARIES) AND 1ST STREET (RIW VARIES) AT A #5 REBAR SET, AND THE TRUE
POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE NORTH
RIGHT-OF-WAY OF WATKINS STREET NORTH 65 DEGREES 49 MINUTES 34
SECONDS WEST A DISTANCE OF 50.00 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF NfF DR. J.E. CARTER, JR. NORTH
24 DEGREES 17 MINUTES 52 SECONDS EAST A DISTANCE OF 49.92 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF NfF :
DOWNTOWN AUGUSTA, INC. SOUTH 65 DEGREES 54 MINUTES 48 SECONDS EAST
A DISTANCE OF 50.17 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE WEST RIGHT-OF-WAY OF 1ST STREET SOUTH 24
DEGREES 29 MINUTES 27 SECONDS WEST A DISTANCE OF 20.76 FEET TO A POINT;
THENCE TURNING AND CONTINUING SOUTH 65 DEGREES 30 MINUTES 33
SECONDS EAST A DISTANCE OF 2.55 FEET TO A POINT; THENCE TURNING AND
CONTINUING SOUTH 24 DEGREES 29 MINUTES 27 SECONDS WEST A DISTANCE OF
29.24 FEET TO A POINT; THENCE TURNING AND CONTINUING NORTH 65 DEGREES
30 MINUTES 33 SECONDS WEST A DISTANCE OF 2.55 FEET TO THE TRUE POINT OF
BEGINNING.
LEGAL DESCRIPTION: 305 WALKER STREET
ALL THAT LOT OR PARCEL OF LAND, WITH IMPROVEMENTS THEREON, SITUATE,
LYING AND BEING IN THE CITY OF AUGUSTA, RICHMOND COUNTY, GEORGIA,
FRONTING A DISTANCE OF 60 FEET, MORE OR LESS, ON THE NORTH SIDE OF
WALKER STREET, BETWEEN THIRD AND FOURTH STREETS, AND EXTENDING
BACK OF EVEN WIDTH, A DISTANCE OF 162 FEET, MORE OR LESS, AND BEING
KNOWN AND DESIGNATED AS LOT NO. 119 ON WILLIAM PHILLIPS' MAP OF THE
CITY OF AUGUSTA RECORDED IN THE OFFICE OF THE CLERK OF SUPERIOR
COURT OF RICHMOND COUNTY, GEORGIA, IN REALTY BOOK 18F, PAGE 420.
REFERENCE IS HEREBY MADE TO SAID PLAT FOR A MORE COMPLETE AND
ACCURATE DESCRIPTION AS TO THE METES, BOUNDS AND LOCATION OF SAID
PROPERTY. .
2
F:\Documents\PRC\white oak\LEGAL DESCRIPTIONS.COMBINE4.doc
A MORE RECENT PLAT PREPARED BY TOOLE SURVEYING COMPANY FOR OLDE
TOWN PROPERTIES I, DATED MARCH 16, 1989, IS RECORDED IN REALTY REEL 307,
PAGE 713, IN SAID CLERK'S OFFICE.
SAID PROPERTY IS KNOWN AND DESIGNATED AS 305 WALKER STREET
ACCORDING TO THE SYSTEM OF STREET NUMBERING CURRENTLY IN USE IN
AUGUSTA, RICHMOND COUNTY, GEORGIA.
LEGAL DESCRIPTION: 260 REYNOLDS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, AND BEING MORE FULLY SHOWN AND
DESIGNATED ON AN ALTNACSM LAND TITLE SURVEY DATED 10/9/98 PREPARED
BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662 AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHWEST RIGHT-OF-WAY INTERSECTION OF 2ND STREET
(RIW VARIES) AND REYNOLDS STREET (R/W VARIES) AND CONTINUING WEST_.
ALONG THE SOUTH RIGHT-OF-WAY OF REYNOLDS STREET 609.31 FEET:t TO A 5/8
INCH OPEN TOP FOUND, AND THE TRUE POINT OF BEGINNING; THENCE TURNING
AND CONTINUING ALONG THE LINE OF N/F GAY, SOUTH 24 DEGREES 16 MINUTES
35 SECONDS WEST AS DISTANCE OF 115.11 FEET TO A 5/8 INCH OPEN TOP FOUND;
THENCE TURNING AND CONT_INUING ALONG THE LINE OF NIP BATTEY, NORTH 66
DE(iREE4S 07 MINUTES 17 SECONDS WEST A DISTANCE OF 25.50 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG AN EXISTING
ALLEY NORTH 03 DEGREES 49 MINUTES 11 SECONDS EAST A DISTANCE OF 43.61
FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG AN
EXISTING ALLEY NORTH 24 DEGREES 12 MINUTES 15 SECONDS EAST A DISTANCE
A DISTANCE OF 74.24 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE SOUTH RIGHT OF WAY OF REYNOLDS STREET SOUTH
65 DEGREES 59 MINUTES 16 SECONDS EAST A DISTANCE OF 40.83 FEET TO THE
TRUE POINT OF BEGINNING AND CONTAINING 0.10 ACRES (4,382.38 SQUARE FEET)
LEGAL DESCRIPTION: 209 TELFAIR STREET
. ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTNACSM LAND TITLE SURVEY DATED OCTOBER 14, 1998, PREPARED
BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662 AND HAVING THE FOLLOWING
METES AND BOUNDS to WIT:
BEGINNING AT THE NORTHWEST RIGHT OF WAY INTERSECTION OF TELFAIR
STREET (RIW V ARIES) AND 2ND STREET (RIW V ARIES) AND CONTINUING WEST
3
F:\Documents\PRC\white oak\LEGAL DESCRIPTIONS.COMBfNE4.doc
. .
ALONG THE NORTH RIGHT OF WAY OF TELFAIR STREET 100 FEET :t TO A #5
REBAR FOUND, AND BEING THE TRUE POINT OF BEGINNING; THENCE TURNING
AND CONTINUING ALONG THE NORTH RIGHT OF WAY OF TELFAIR STREET
NORTH 67 DEGREES 38 MINUTES AND "50 SECONDS WEST A DISTANCE OF 36.00
FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE
LINE OF NIF BRANCH, NORTH 22 DEGREES 35 MINUTES 33 SECONDS EAST A
DISTANCE OF 176.31 FEET TO A 3/4 INCH CRIMPED TOP FOUND; THENCE TURNING
AND CONTINUING ALONG THE LINE OF NIF SACCO AND NIF MABEN, SOUTH 69
DEGREES 04 MINUTES 52 SECONDS EAST A DISTANCE OF 35.79 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF NIF
HARRIS AND NIF CONNELL SOUTH 22 DEGREES 31 MINUTES .09 SECONDS WEST A
DISTANCE OF 177.20 FEET TO THE TRUE POINT OF BEGINNING AND CONTAINING
0.15 ACRES (6,343.39 SQUARE FEET).
LEGAL DESCRIPTION: 228 TELFAIR STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY DATED OCTOBER 9,1998, PREPARED BY
W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY, GEORGIA
REGISTERED LAND SURVEYOR NO. 2662, AND HA VING THE FOLLOWING METES
AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY INTERSECTION OF 3RD STREET
(RIW VARIES) AND TELFAIR STREET (RIW V ARIES) AND CONTINUING EAST
ALONG THE SOUTH RIGHT OF WAY OF TELFAIR STREET 503.58 FEET :t TO A #5
"REBAR FOUND, AND THE TRUE POINT OF BEGINNING; THENCE TURNING AND
CONTINUING ALONG THE SOUTH RIGHT OF WAY OF TELFAIR STREET SOUTH 67
DEGREES 37 MINUTES 26 SECONDS EAST A DISTANCE OF 33.29 FEET TO A #4
REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF NIF
MIRICK SOUTH 21 DEGREES 31 MINUTES 01 SECOND WEST A DISTANCE OF 169.85
FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE
LINE OF NIF ROUNDTREE AND NIF YOUNG NORTH 68 DEGREES 51 MINUTES 26
SECONDS WEST A DISTANCE OF 32.34 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF 230 TELFAIR STREET NORTH 21
DEGREES 11 MINUTES 58 SECONDS EAST A DISTANCE OF 170.56 FEET TO THE
TRUE POINT OF BEGINNING AND CONTAINING 0.13 ACRES (5,584.46 SQUARE
FEET).
LEGAL DESCRIPTION: 230. TELFAIR STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY DATED OCTOBER 9,1998, PREPARED BY
W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY, GEORGIA
4
F:\Documents\PRC\white oak\LEGAL DESCRIPTIONS.COMBINE4.doc
REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING METES
AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY INTERSECTION OF 3RD STREET
ryJW VARIES) AND TELFAIR STREET (R/W V ARIES) AND CONTINUING EAST
ALONG THE SOUTH RIGHT OF WAY OF TELFAIR STREET 470.58 FEET:t TO A #4
, .
REBAR SET, AND THE TRUE POINT OF BEGINNING; THENCE TURNING AND
CONTINUING ALONG THE SOUTH RIGHT OF WAY OF TELFAIR STREET SOUTH 67
DEGREES 37 MINUTES 26 SECONDS EAST A DISTANCE OF 33.00 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF 228
TELFAIR STREET SOUTH 21 DEGREES 11 MINUTES 58 SECONDS WEST A DISTANCE
OF 170.56 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING
ALONG THE LINE OF NIP YOUNG AND NIP WILLIAMS NORTH 67 DEGREES 07
MINUTES 00 SECONDS WEST A DISTANCE OF 32.64 FEET TO A #5 REBAR FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP ALLEN NORTH 21
DEGREES 04 MINUTES 36 SECONDS EAST A DISTANCE OF 170.28 FEET TO THE
TRUE POINT OF BEGINNING AND CONTAINING 0.13 ACRES (5,591.39 SQUARE
. FEET). .
LEGAL DESCRIPTION: 224 BROAD STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTA/ACSM LAND TITLE SURVEY DATED OCTOBER 21, 1998, PREPARED
BY W.R. TOOLE.ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHWEST RIGHT OF WAY OF 2ND STREET (RJW V ARIES)
AND BROAD STREET (RJW V ARIES) AND CONTINUING WEST ALONG THE SOUTH
RIGHT OF WAY OF BROAD STREET 247.50 FEET:!: TO A P.K. NAIL FOUND AND THE
TRUE POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE
LINE OF NIP ANDERSON SOUTH 23 DEGREES 38 MINUTES 12 SECONDS WEST A
DISTANCE OF 133.70 FEET TO A #4 REBAR SET; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIP DOWNTOWN AUGUSTA NORTH 68
DEGREES 16 MINUTES 05 SECONDS WEST A DISTANCE OF 54.02 FEET TO A #4
REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP
MCGAHEE NORTH 23 DEGREES 37 MINUTES 14 SECONDS EAST A DISTANCE OF
134.76 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG
THE SOUTH RIGHT OF WAY OF BROAD STREET SOUTH 67 DEGREES 08 MINUTES 50
SECONDS EAST A DISTANCE OF 54.03 FEET TO THE TRUE POINT OF BEGINNING
AND CONTAINING 0.17 ACRES (7,249 :35 SQUARE FEET).
5
F:\Documents\PRC\white oak\LEGAL DESCRIPTIONS.COMBINE4.doc
LEGAL DESCRIPTION: 111 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY DATED OCTOBER 20, 1998, PREPARED
BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT OF WAY OF FORSYTHE STREET (RfW
V ARIES) AND ELLIS STREET (RJW VARIES) AND CONTINUING WEST ALONG THE
NORTH RIGHT OF WAY OF ELLIS STREET 49.00 FEET:t TO A#5 REBAR FOUND AND
THE TRUE POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG
THE NORTH RIGHT OF WAY OF ELLIS STREET NORTH 66 DEGRE:gS 00 MINUTES 00
SECONDS WEST A DISTANCE OF 48.52 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF N/F MCGOW ANS FLORIST
NORTH 25 DEGREES 01 MINUTE 43 SECONDS EAST A DISTANCE OF 90.91 FEET TO
A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF
N/F CONNELL SOUTH 66 DEGREES 04 MINUTES 54 SECONDS EAST A DISTANCE OF
47.51 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG
THE LINE OF N/F AGNEW SOUTH 24 DEGREES 23 MINUTES 20 SECONDS WEST A:
DIST ANCE OF 90.96 FEET TO THE TRUE POINT OF BEGINNING AND CONTAINING
0.10 ACRES (4,365.88 SQUARE FEET).
LEGAL DESCRIPTION: 409 WALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED'
ON AN ALTAlACSM LAND TITLE SURVEY DATED OCTOBER 9, 1998, PREPARED BY
W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY, GEORGIA
REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING METES
AND BOUNDS TO WIT:
BEGINNING AT THE NORTHEAST RIGHT OF WAY INTERSECTJON OF WALKER
. STREET (R/W VARIES) AND GORDON HIGHWAY (150 FEETR/W) AT A 1 INCH
CRIMPED TOP FOUND AND BEING THE TRUE POINT OF BEGINNING; THENCE
TURNING AND CONTINUING ALONG THE EAST RIGHT OF WAY OF GORDON
. HIGHWAY NORTH 25 DEGREES 25 MINUTES 50 SECONDS EAST A DISTANCE OF
131.69 FEET TO A 5/8 INCH OPEN TOP FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF N/F REDDY SOUTH 63 DEGREES 21 MINUTES 37
SECONDS EAST A DISTANCE OF 36.67 FEET TO A #5 REBAR FOUND; THENCE .
TURNING AND CqNTINUING ALONG THE LINE OF N/F ZARGE SOUTH 23 DEGREES
04 MINUTES 36 SECONDS WEST A DISTANCE OF 130.65 FEET TO A #5 REBAR
FOUND; THENCE TURNING AND CONTINUING ALONG THE NORTH RIGHT OF WAY
OF WALKER STREET NORTH 65 DEGREES 04 MINUTES 36 SECONDS WEST A
6
F:\Documents\PRC\white oak\LEGAL DESCRIPTIONS.COMBINE4.doc
DISTANCE OF 42.03 FEET TO THE TRUE POINT OF BEGINNING AND CONTAINING
0.12 ACRES (5,158.18 SQUARE FEET).-
LEGAL DESCRIPTION: 101 & 103 1ST STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY DATED OCTOBER 20,1998, PREPARED
BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHWEST RIGHT OF WAY INTERSECTION OF REYNOLDS
STREET (R/W VARIES) AND 1 ST STREET (R/W VARIES) AT A #5 REBAR FOUND AND
THE TRUE POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG
THE WEST RIGHT OF WAY OF 1 ST STREET SOUTH 24 DEGREES 01 MINUTE 17
SECONDS WEST A DISTANCE OF 65.12 FEET TO #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF N/F WASHINGTON NORTH 65
DEGREES 55 MINUTES 56 SECONDS WEST A DISTANCE OF 75;83 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F_
CARTER AND N/F ZARGE NORTH'23 DEGREES 51 MINUTES 02 SECONDS EAST A:
DISTANCE OF 65.03 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE SOUTH RIGHT OF WAY OF REYNOLDS STREET SOUTH
66 DEGREES 00 MINUTES 00 SECONDS EAST A DISTANCE OF 76.02 FEET TO THE
TRUE POINT OF BEGINNING AND CONTAINING 0.11 ACRES (4;940.70 SQUARE
FEET)..
LEGAL DESCRIPTION: 237 TELFAIR STREET
. ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAlACSM LAND TITLE SURVEY DATED OCTOBER 14, 1998, PREPARED
BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHEAST RIGHT OF WAY INTERSECTION OF 3RD STREET
(R/W V ARIES) AND TELF AIR_ STREET (R/W V ARIES) AND CONTINUING EAST
ALONG THE NORTH RIGHT OF WAY OF TELFAIR STREET 344.68 FEET :t TO A #5
REBAR FOUND AND THE TRUE POINT OF BEGINNING; THENCE TURNING AND
CONTINUING ALONG THE LINE OF N/F TRITT AND WALKER NORTH 22 DEGREES
45 MINUTES 57 SECONDS EAST A DISTANCE OF 174.91 FEET TO A #4 REBAR SET;
THENCE -TURNING AND CONTINUING ALONG THE LINE OF DOWNTOWN
AUGUST A, INe. AND N/F BALK, SOUTH 67 DEGREES 09 MINUTES 44 SECONDS
EAST A DISTANCE OF 33.60 FEET TO A 3/4 INCH OPEN TOP FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF N/FBALK, SOUTH22 DEGREES
7
F:\DocumenlS\PRC\white oak\LEGAL DESCRJPTIONS.COM8INE4.doc
, ,.
07 SECONDS EAST A DISTANCE OF 30.85 FEET TO A CORNER OF WALL; THENCE
TURNING AND CONTINUING ALONG THE LINE OF NIP BRYANT NORTH 26
DEGREES 06 MINUTES 58 SECONDS EAST A DISTANCE OF 14.85 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP
SULLIVAN SOUTH 66 DEGREES 58 MINUTES 57 SECONDS EAST A DISTANCE OF
i 6.43 FEET TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE
LINE OF NIP BUCKLEY SOUTH 23 DEGREES 30 MINUTES 09 SECONDS WEST A
DISTANCE OF 133.69 FEET TO A 1/2 INCH FLAT BAR; THENCE TURNING AND
CONTINUING ALONG THE NORTH RIGHT OF WAY OF GREENE STREET NORTH 68
DEGREES 30 MINUTES 00 SECONDS WEST A DISTANCE OF 46.34 FEET TO THE TRUE
POINT OF BEGINNING AND CONTAINING 0.13 ACRES (5,872.50 SQUARE FEET).
LEGAL DESCRIPTION: 256 GREENE STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "A" ON AN ALTAlACSM LAND TITLE SURVEY DATED OCTOBER 9, 1998,
PREP ARED BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY OF GREENE STREET (RJW
VARIES) AND 3RD STREET (RJW VARIES) AND CONTINUING ALONG THE SOUTH
RIGHT OF WAY OF GREENE STREET 155.41 FEET:t TO A #4 REBAR SET AND THE
TRUE POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE
SOUTH RIGHT OF WAY OF GREENE STREET SOUTH 67 DEGREES 29 MINUTES 30
SECONDS EAST A DISTANCE OF 33.01 FEET TO A #4 REBAR SET; THENCE TURNING
AND CONTINUING ALONG THE LINE OF NIP BIGHOM SOUTH 23 DEGREES 41
MINUTES 16 SECONDS WEST A DISTANCE OF 173.27 FEET TO A #5 REBAR FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP THOMPKINS AND
NIP BEALE NORTH 66 DEGREES 13 MINUTES 55 SECONDS WEST A DISTANCE OF
32.99 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG
THE LINE OF 258 GREENE STREET NORTH 23 DEGREES 40 MINUTES 55 SECONDS
EAST A DISTANCE OF 172.54 FEET TO THE TRUE POINT OF BEGINNING AND
CONTAINING 0.13 ACRES (5,704.80 SQUARE FEET).
LEGAL DESCRIPTION: 258 GREENE STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "B" ON AN ALTAlACSM LAND TITLE SURVEY DATED OCTOBER 9, 1998,
PREP ARED BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
9
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, . " .
. BEGINNING AT THE SOUTHEAST RIGHT OF WAY OF GREENE STREET (RIW
VARIES) AND 3RD STREET (RIW VARIES) AND CONTINUING ALONG THE SOUTH
RIGHT-OF-WAY OF GREENE STREET 122.51 FEET:l: TO A #4 REBAR SET AND THE
TRUE POINT OF BEGINNING; THENCE CONTINUING ALONG THE SOUTH RIGHT OF
, WAY OF GREENE STREET SOUTH 67 DEGREES 29 MINUTES 30 SECONDS EAST A
DrST ANCE OF 32.90 FEET TO A #4 REBAR SET; THENCE TURNING AND
CONTINUING ALONG THE LINE OF 256 GREENE STREET SOUTH 23 DEGREES 40
MINUTES 55 SECONDS WEST A DISTANCE OF 172.54 FEET TO A #5 REBAR FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F BEALE AND N/F
BARTON INVESTMENT CO. INe. NORTH 66 DEGREES 13 MINUTES 55 SECONDS
WEST A DISTANCE OF 32.96 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF 260 GREENE STREET NORTH 23 DEGREES 42
MINUTES 20 SECONDS EAST A DISTANCE OF 171.82 FEET TO THE TRUE POINT OF
BEGINNING AND CONTAINING 0.13 ACRES (5,669.67 SQUARE FEET).
LEGAL DESCRIPTION: 260 GREENE STREET
ALL THAT CERTAIN PIECE, pARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "C" ON AN ALTNACSM LAND TITLE SURVEY DATED OCTOBER 9, 19?8,
PREP ARED BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY INTERSECTION OF 3RD STREET
(R/W VARIES) AND GREENE STREET (R/W V ARIES) AND CONTINUING EAST
ALONG THE SOUTHERN RIGHT OF WAY OF GREENE STREET 89.5 FEET:!: TO A #4
REBAR SET AND THE TRUE POINT OF BEGINNING; THENCE TURNING AND
CONTINUING ALONG THE SOUTH RIGHT OF WAY GREENE STREET SOUTH 67
DEGREES 29 MINUTES 30 SECONDS EAST A DISTANCE OF 33.01 FEET TO A #4
REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF 258
GREENE STREET SOUTH 23 DEGREES 42 MINUTES 20 SECONDS WEST A DISTANCE
OF 171.82 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING
ALONG THE LINE OF BARTON INVESTMENT CO INC. NORTH 66 DEGREES 13
MINUTES 55 SECONDS WEST A DISTANCE OF 32.98 FEET TO A 5/8 INCH CRIMPED
TOP FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF AUGUSTA
MINISTERS UNION, N/F ROBERTS AND N/F GRADY NORTH 23 DEGREES 41
MINUTES 58 SECONDS EAST A DISTANCE OF 171.10 FEET TO THE TRUE POINT OF
BEGINNING AND CONTAINING 0.13 ACRES (5,657.19 SQUARE FEET).
LEGAL DESCRIPTION: 608 & 610 THIRD STREET & 264 WALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "D" ON AN ALTNACSM LAND TITLE SURVEY DATED NOVEMBER 13,
10
F:\Documents\PRC\white oak\LEGAL DESCRIPTIONS.COMBINE4.doc
.. ~I fl.'
1998, PREPARED BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY OF THIRD STREET (R/W V ARIES)
AND WALKER STREET (RIW V ARIES) AT A #4 REBAR SET AND THE TRUE POINT OF
BEGINNING; THENCE TURNING AND CONTINUING EAST ALONG THE SOUTH
RIGHT OF WAY OF WALKER STREET SOUTH 66 DEGREES 34 MINUTES 40 SECONDS
EAST A DISTANCE OF 54.39 FEET TO A #4 REBAR SET; THENCE SOUTH 21 DEGREES
44 MINUTES 19 SECONDS WEST A DISTANCE OF 1.90 FEET TO A # 5 REBAR FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF 262 WALKER STREET
SOUTH 23 DEGREES 45 MINUTES 24 SECONDS WEST A DISTANCE OF 134.84 FEET
TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF
614 THIRD STREET NORTH 66 DEGREES 26 MINUTES 02 SECONDS WEST A
DISTANCE OF 52.56 FEET TOA #4 REBAR SET; THENCE TURNING AND
CONTINUING NORTH 66 DEGREES 26 MINUTES 02 SECONDS WEST A DISTANCE OF
1.93 FEET TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE
RIGHT OF WAY OF THIRD STREET NORTH 23 DEGREES 46 MINUTES 10 SECONDS
EAST A DISTANCE OF 136.60 FEET TO THE TRUE POINT OF BEGINNING AND
CONTAINING 0.17 ACRES (7,444.87 SQUARE FEET).
LEGAL DESCRIPTION: 262 WALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "C" ON AN ALTA/ACSM LAND TITLE SURVEY DATED NOVEMBER 13,
1998, PREPARED BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY OF THIRD STREET (R/W V ARIES)
AND WALKER STREET (RIW V ARIES) AND CONTINUING EAST ALONG THE SOUTH
RIGHT OF WAY OF WALKER STREET 54.39 FEET TO A #4 REBAR SET; THENCE
TURNiNG AND CONTINUING SOUTH 21 DEGREES 44 MINUTES 19 SECONDS WEST A
DIST ANCE OF 1.90 FEET TO A #4 REBAR SET AND THE TRUE POINT OF BEGINNING;
THENCE TURNING AND CONTINUING ALONG THE SOUTH RIGHT OF WAY OF
WALKER STREET SOUTH 66 DEGREES 25- MINUTES 22 SECONDS EAST A DISTANCE
OF 46.18 FEET TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG
THE LINE OF 260 WALKER STREET SOUTH 23 DEGREES 41 MINUTES 06 SECONDS
WEST A DISTANCE OF 134.83 FEET TO A #4 REBAR SET; THENCE TURNING AND
CONTINUING ALONG THE LINE OF 614 THIRD STREET NORTH 66 DEGREES 26
MINUTES 23 SECONDS WEST A DISTANCE OF 46.35 FEET TO A #4 REBAR SET;
THENCE TURNING AND CONTINUING ALONG THE LINE OF 608 AND 610 THIRD
STREET & 264 WALKER STREET NORTH 23 DEGREES 45 MINUTES 24 SECONDS
11
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EAST A DISTANCE OF 134.84 FEET TO THE TRUE POINT OF BEGINNING AND
CONTAINING 0.14 ACRES (6,238.11 SQUARE FEET).
LEGAL DESCRIPTION: 260 WALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "B" ON AN ALTA/ACSM LAND TITLE SURVEY FOR DATED NOVEMBER
13,1998, PREPARED BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN
M. HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY OF THIRD STREET (RIW V ARIES)
AND WALKER STREET (RIW V ARIES) AND CONTINUING EAST ALONG THE SOUTH
RIGHT OF WAY OF WALKER STREET 54.39 FEET TO A #4 REBAR SET; THENCE
TURNING AND CONTINUING SOUTH 21 DEGREES 44 MINUTES 19 SECONDS WEST A
DIST ANCE OF 1.90 FEET TO A #4 REBAR SET; THENCE CONTINUING EAST ALONG
THE SOUTH RIGHT OF WAY OF WALKER STREET 46.18 FEET TO A #4 REBAR SET
AND THE TRUE POINT OF BEGINNING; THENCE TURNING AND CONTINUING
ALONG THE SOUTH RIGHT OF WAY OF WALKER STREET SOUTH 66 DEGREES 37
MINUTES 45 SECONDS EAST A DISTANCE OF 44.22 FEET TO A #4 REBAR SET; :
THENCE TURNING AND CONTINUING ALONG THE L INE OF 256 WALKER STREET
SOUTH 23 DEGREES 41 MINUTES 36 SECONDS WEST A DISTANCE OF 134.99 FEET
TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF
NIP WARREN NORTH 66 DEGREES 21 MINUTES 58 SECONDS WEST A DISTANCE OF
12.84 FEET TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE
LINE OF 614 THIRD STREET NORTH 66 DEGREES 26 MINUTES 22 SECONDS WEST A
DIST ANCE OF 31.36 FEET TO A #4 REBAR SET; THENCE TURNING AND
CONTINUING ALONG THE LINE OF 262 WALKER STREET NORTH 23 DEGREES 41
MINUTES 06 SECONDS EAST A DISTANCE OF 134.83 FEET TO THE TRUE POINT OF
BEGINNING AND CONTAINING 0.14 ACRES (5,964.14 SQUARE FEET).
LEGAL DESCRIPTION: 256 WALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "A" ON AN ALTA/ACSM LAND TITLE SURVEY DATED NOVEMBER 13,
1998, PREPARED BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, ANDHA VING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY OF THIRD STREET (RIW V ARIES)
AND WALKER STREET (RIW V ARIES) AND CONTINUING EAST ALONG THE SOUTH
RIGHT OF WAY OF WALKER STREET 54.39 FEET TO A #4 REBAR SET; THENCE
TURNING AND CONTINUING SOUTH 21 DEGREES 44 MINUTES 19 SECONDS WEST A
DISTANCE OF 1.90 FEET TO A #4 REBAR SET; THENCE CONTINUING EAST ALONG
12
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THE SOUTH RIGHT OF WAY OF WALKER STREET 90.40 FEET TO A #4 REBAR SET
AND THE TRUE POINT OF BEGINNING, THENCE TURNING AND CONTINUING
ALONG THE SOUTH RIGHT OF WAY OF WALKER STREET SOUTH 66 DEGREES 37
MINtJTES 20 SECONDS EAST A DISTANCE OF 29.70 FEET TO A #5 REBAR FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F HOLLAND SOUTH
23 DEGREES 41 MINUTES 35 SECONDS WEST A DISTANCE OF 135.12 FEET TO A #4
REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F
WARREN NORTH 66 DEGREES 21 MINUTES 57 SECONDS WEST A DISTANCE OF
29.70 FEET TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE
LINE OF 260 WALKER STREET NORTH 23 DEGREES 41 MINUTES 36 SECONDS EAST
A DISTANCE OF 134.99 FEET TO THE TRUE POINT OF BEGINNING AND
CONTAINING 0.09 ACRES (4,012.24 SQUARE FEET)
LEGAL DESCRIPTION: 614 THIRD STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "E" ON AN ALTNACSM LAND TITLE SURVEY DATED NOYEMBER 13,
1998, PREPARED BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY OF THIRD STREET (RJW V ARIES)
AND WALKER STREET (RJWV ARIES) AND CONTINUING SOUTH ALONG THE EAST
RIGHT OF WAY OF THIRD STREET 136.60 FEET TO A #4 REBAR SET; THENCE
TURNING AND CONTINUING SOUTH 66 DEGREES 26 MINUTES 02 SECONDS EAST A
DIST ANCE OF 1.93 FEET TO A #4 REBAR SET AND THE TRUE POINT OF BEGINNING;
THENCE TURNING AND CONTINUING ALONG THE LINE OF 608 AND 610 THIRD
STREET AND 264 WALKER STREET SOUTH 66 DEGREES 26 MINUTES 02 SECONDS
EAST A DISTANCE OF 52.56 FEET TO A #4 REBAR SET; THENCE TURNING AND
CONTINYING ALONG THE LINE OF,262 WALKER STREET SOUTH 66 DEGREES 26
MINUTES 23 SECONDS EAST A DISTANCE OF 46.35 FEET TO A #4 REBAR SET;
THENCE TURNING AND CONTINUING ALONG THE LINE OF 260 WALKER STREET
SOUTH 66 DEGREES 26 MINUTES 22 SECONDS EAST A DISTANCE OF 31.36 FEET TO
A #4 REBAR SET; THENCE TURNINGAND CONTINUING ALONG THE LINE OF N/F
WARREN SOUTH 24 DEGREES 01 MINUTE 25 SECONDS WEST A DISTANCE OF 40.08
FEET TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE
. OF N/F PERDUE NORTH 66 DEGREES 24 MINUTES 09 SECONDS WEST A DISTANCE
OF 130.06 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING
ALONG THE EAST RIGHT OF WAY OF THIRD STREET NORTH 23 DEGREES 43
MINUTES 55 SECONDS EAST A DISTANCE OF 40.00 FEET TO THE TRUE POINT OF
BEGINNING AND CONTAINING 0.12 ACRES (5,211.34 SQUARE FEET).
13
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LEGAL DESCRIPTION: 209 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "D" ON AN ALTNACSM LAND TITLE SURVEY DATED NOVEMBER 5,
1998, PREPARED BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT: .
BEGINNING AT THE NORTHWEST RIGHT OF WAY OF 2ND STREET (R/W V ARIES)
AND ELLIS STREET (RJW V ARIES) AND CONTINUING WEST ALONG ELLIS STREET
99 FEET:t TO A 3/4 INCH CRIMPED TOP FOUND AND THE TRUE POINT OF
BEGINNING; THENCE TURNING AND CONTINUING ALONG THE NORTH RIGHT OF
WAY OF ELLIS STREET NORTH 66 DEGREES 00 MINUTES 00 SECONDS WEST A
DISTANCE OF 50.03 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF 211 AND 213 ELLIS STREET NORTH 24 DEGREES
25 MINUTES 36 SECONDS EAST A DISTANCE OF 118.99 FEET TO A #5 REBAR
FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE NIP ANTHONY
AND NIP HERRINGTON SOUTH 65 DEGREES 58 MINUTES 26 SECONDS EAST A
DISTANCE OF 49.97 FEET TO A #5 REBAR FOUND; THENCE TURNING AND.
CONTINUING ALONG THE LINE OF NIP AGOST AS SOUTH 24 DEGREES 23 MINUTES
45 SECONDS WEST A DISTANCE OF 118.97 FEET TO THE TRUE POINT OF
BEGINNING AND CONTAINING 0.14 ACRES (5,948.87 SQUARE FEET).
LEGAL DESCRIPTION 211 & 213 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "C" ON AN ALTNACSM LAND TITLE SURVEY DATED NOVEMBER 5,
1998, PREPARED BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT OF WAY OF 2ND STREET (R/W V ARIES)
AND ELLIS STREET (R/W V ARIES) AND CONTINUING WEST ALONG ELLIS STREET
149.03 FEET:t TO A #5 REBAR FOUND AND THE TRUE POINT OF BEGINNING;
. THENCE TURNING AND CONTINUING ALONG THE NORTH RIGHT OF WAY OF
ELLIS STREET NORTH 65 DEGREES ~8 MINUTES 22 SECONDS WEST A DISTANCE OF
53.55 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG
THE LINE OF 215 ELLIS STREET NORTH 24 DEGRES 27 MINUTES 11 SECONDS EAST
A DISTANCE OF 119.22 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIP SPRADLEY AND NIP ANTHONY SOUTH 65
DEGREES 43 MINUTES 26 SECONDS EAST A DISTANCE OF 53.50 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF 209
ELLIS STREET SOUTH 24 DEGREES 25 MINUTES 36 SECONDS WEST A DrST ANCE OF
14
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. -,e -:;t .
118.99 FEET TO THE TRUE POINT OF BEGINNING AND CONTAINING 0.15 ACRES
(6,375.26 SQUARE FEET).
LEGAL DESCRIPTION: 215 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "B" ON AN ALTA/ACSM LAND TITLE SURVEY DATED NOVEMBER 5,
1998, PREPARED BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT OF WAY OF: 2ND STREET (RIW V ARIES)
AND ELLIS STREET (RIW VARIES) AND CONTINUING WEST 202.58 FEET :t TO A #5
REBAR FOUND AND THE TRUE POINT OF BEGINNING; THENCE TURNING AND
CONTINUING ALONG THE NORTH RIGHT OF WAY OF ELLIS STREET NORTH 65
DEGREES 57 'MINUTES 17 SECONDS WEST A DISTANCE OF 50.11 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF 219,
AND 221 ELLIS STREET NORTH 24 DEGREES 45 MINUTES 08 SECONDS EAST A :
DISTANCE OF 134.87 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIF J.e. ANDERSON, JR., SOUTH 66 DEGREES 15
MINUTES 51 SECONDS EAST A DISTANCE OF 49.12 FEET TO A #5 REBAR FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF NIF SPRADLEY SOUTH
23 DEGREES 23 MINUTES 39 SECONDS WEST A DISTANCE OF 15.91 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF 211.
AND 213 ELLIS STREET SOUTH 24 DEGREES 27 MINUTES 11 SECONDS WEST A
DISTANCE OF 119.22 FEET TO THE TRUE POINT OF BEGINNING AND CONTAINING
0.15 ACRES (6,714.64 SQUARE FEET).
LEGAL DESCRIPTION: 219 & 221 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "A" ON AN ALTA/ACSMLAND TITLE SURVEY DATED NOVEMBER 5,
1998, PREPARED BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT OF WAY OF 2ND STREET (R/W V ARIES)
AND ELLIS STREET (R.fW VARIES) AND CONTINUING WEST 252.69 FEET :t TO A #5
REBAR FOUND AND THE TRUE POINT OF BEGINNING; THENCE TURNING AND
CONTINUING ALONG THE NORTH RIGHT OF WAY OF ELLIS STREET NORTH 65
DEGREES 59 MINUTES 23 SECONDS WEST A DISTANCE OF 62.76 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF NIF
15
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DOWNTOWN AUGUSTA, INe. NORTH 24 DEGREES 39 MINUTES 54 SECONDS EAST
A DISTANCE OF 133.26 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIF MCGAHEE AND NIF DOWNTOWN
AUGUSTA, INC. SOUTH 67 DEGREES 27 MINUTES 09 SECONDS EAST A DISTANCE
OF 63.00 FEET TO A #5 REBAR FOuND; THENCE TURNING AND CONTINUING
ALONG THE LINE OF 215 ELLIS STREET SOUTH 24 DEGREES 45 MINUTES 08
SECONDS WEST A DISTANCE OF 134.87 FEET TO THE TRUE POINT OF BEGINNING
AND CONTAINING 0.19 ACRES (8,426.94 SQUARE FEET).
LEGAL DESCRIPTION: 319 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING ANDBEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTA/ACSM LAND TITLE SURVEY DATED NOVEMBER 9,1998, PREPARED
BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HA VING THE FOLLOWING
METES AND BOUNDS TO WIT:
. BEGINNING AT THE NORTHWEST RIGHT OF WAY OF 3RD STREET (RJw V ARIES)
AND ELLIS STREET (RfW V ARIES) AND CONTINUING WEST 287.99 FEET:t TO A 1/2
INCH OPEN TOP FOUND AND THE TRUE POINT OF BEGINNING; THENCE TURNING
AND CONTINUING ALONG THE NORTH RIGHT OF WAY OF ELLIS STREET NORTH
66 DEGREES 07 MINUTES 03 SECONDS WEST A DISTANCE OF 40.82 FEET TO A P.K.
NAIL FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF 321 ELLIS
STREET NORTH 25 DEGREES 02 MINUTES 39 SECONDS EAST A DISTANCE OF 132.25
FEET TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE
OF NIF OLDE TOWN PROPERTIES SOUTH 66 DEGREES 15 MINUTES 48 SECONDS
EAST A DISTANCE OF 32.17 FEET TO A #4 REBAR SET; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIF UPTON SOUTH 62 DEGREES 02 MINUTES 56
SECONDS EAST A DISTANCE OF 8.55 FEET TO A #4 REBAR FOUND SET; THENCE
TURNING AND CONTINUING ALONG THE LINE OF NIF HUDSON SOUTH 24
DEGREES 59 MINUTES 42 SECONDS WEST A DISTANCE OF 131.72 FEET TO THE
TRUE POINT OF BEGINNING AND CONTAINING 0.12 ACRES (5,389.41 SQUARE
FEET).
LEGAL DESCRIPTION: 323 AND 323 1/2 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTA/ACSM LAND TITLE SURVEY DATED NOVEMBER 9,1998, PREPARED
BY W.R. TOOLE ENGINEERS, INe. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT OF WAY OF 3RD STREET (RIW V ARIES)
AND ELLIS STREET (RIW VARIES) AND CONTINUING WEST 364.79 FEET :t TO A 3/4
16
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,. ,. ~'\ *'
INCH CRIMPED TOP FOUND ANI) THE POINT OF BEGINNING; THENCE TURNING
AND CONTINUING ALONG THE NORTH RIGHT OF WAY OF ELLIS STREET NQRTH
65 DEGREES 58 MINUTES 54 SECONDS WEST A DISTANCE OF 36.00 FEET TO A #4
REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF 325 AND
327 ELLIS STREET NORTH 25 DEGREES 08 MINUTES 36 SECONDS EAST A DISTANCE
OF 112.89 FEET TO A 3/4 INCH CRIMPED TOP FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIF CROSS NORTH 24 DEGREES 09 MINUTES 17
SECONDS EAST A DISTANCE OF 19.28 FEET TO A 3/4 INCH CRIMPED TOP FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF NIF DEVANEY SOUTH
66 DEGREES 32 MINUTES 11 SECONDS EAST A DISTANCE OF 36.02 FEET TO A 3/4
INCH CRIMPED TOP FOUND; THENCE TURNING AND CONTINUING ALONG THE
LINE OF 321 ELLIS STREET SOUTH 25 DEGREES 00 MINUTES 12 SECONDS WEST A
DIST ANCE OF 132.51 FEET TO THE TRUE POINT OF BEGINNING AND CONTAINING
0.11 ACRES (4,745.59 SQUARE FEET).
LEGAL DESCRIPTION: 325 & 327 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTNACSM LAND TITLE SURVEY DATED NOVEMBER 9, 1998, PREPAREP
BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY, :
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT OF WAY OF 3RD STREET (R/W V ARIES)
AND ELLIS STREET (R/W VARIES) AND CONTINUING WEST 400.79 FEET :t TO A #4
REBAR SET AND THE TRUE POINT OF BEGINNING; THENCE TURNlNGAND
CONTINUING ALONG THE NORTH RIGHT OF WAY OF ELLIS STREET NORTH 65
..DEGREES 58 MINUTES 54 SECONDS WEST A DISTANCE OF 47.00 FEET TO A #4
REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF NIF
CALDWELL NORTH 24 DEGREES 00 MINUTES 08 SECONDS EAST A DISTANCE OF
112.97 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG
THE LINE OFNIF CROSS SOUTH 65 DEGREES 51 MINUTES 58 SECONDS EAST A
DISTANCE OF 49.25 FEET TOA 3/4 INCH CRIMPED TOP FOUND; THENCE TURNING.
AND CONTINUING ALONG THE LINE OF 323 AND 323 1/2 ELLIS STREET SOUTH 25
DEGREES 08 MINUTES 36 SECONDS WEST A DISTANCE OF 112.89 FEET TO THE
TRUE POINT OF BEGINNING AND CONTAINING 0.12 ACRES (5,434.13 SQUARE
FEET).
LEGAL DESCRlPTION: 229 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON ANALTNACSM LAND TITLE SURVEY DATED OCTOBER 28, 1998, PREPARED
BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY,
17
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fl. ; '"\ ,-
46 MINUTES 16 SECONDS WEST A DISTANCE OF 174.77 FEET TO A #4 REBAR SET;
THENCE TURNING AND CONTINUING ALONG THE NORTH RIGHT OF WAY OF
TELFAIR STREET NORTH 67 DEGREES 24 MINUTES 03 SECONDS WEST A DISTANCE
OF 33.59 FEET TO THE TRUE POINT OF BEGINNING AND CONTAINING 0.13 ACRES
(5,873.89 SQUARE FEET).
LEGAL DESCRIPTION: 134 & 136 WALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTA/ACSM LAND TITLE SURVEY DATED OCTOBER 21, 1998, PREPARED
BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT OF WAY OF 2ND STREET (R/W V ARIES)
AND WALKER STREET (RIW VARIES) AND CONTINUING EAST ALONG THE SOUTH
RIGHT OF WAY OF WALKER STREET 124.50 FEET :t TO A #5 REBAR FOUND BEING
THE TRUE POINT OF BEGINNING, THENCE TURNING AND CONTINUING ALONG
. THE SOUTH RIGHT OF WAY OF WALKER STREET SOUTH 66 DEGREES 33 MINUTES
32 SECONDS EAST A DISTANCE OF 42.97 FEET TO A #5 REBAR FOUND; THENCE:
TURNING AND CONTINUING ALONG THE LINE OF N/F BAUKNIGHT SOUTH 23 .
DEGREES 25 MINUTES 00 SECONDS WEST A DISTANCE OF 132.01 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F
CIMANYD INC, N/F DAVIS, N/F JACKSON, NORTH 66 DEGREES 38 MINUTES 47
SECONDS WEST A DISTANCE OF 42.98 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF N/F BAILEY NORTH 23 DEGREES
25 MINUTES 28 SECONDS EAST A DISTANCE OF 132.07 FEET TO THE TRUE POINT
OF BEGINNING AND CONTAINING 0.13 ACRES (5,669.54 SQUARE FEET).
. LEGAL DESCRIPTION: 259 GREENE STREET
. ALL THAT CERTAIN PIECE, P ARCELOR LOT OF LAND LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTA/ACSM LAND TITLE SURVEY DATED OCTOBER 19, 1998, PREPARED
BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHEAST RIGHT OF WAY OF 3RD STREET (RIW V ARIES)
AND GREENE STREET (R/W V ARIES) AND CONTINUING EAST ALONG THE NORTH
RIGHT OF WAY OF GREENE STREET 52.28 FEET :t TO A SPIKE FOUND AND THE
TRUE POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE
LINE OF N/F GRABLOSKI NORTH 22 DEGREES 43 MINUTES 12 SECONDS EAST A
DISTANCE OF 119.55 FEET TOA CORNER OF BRICK WALL; THENCE TURNING AND
CONTINUING ALONG THE LINE OF N/F BRYANT SOUTH 67 DEGREES 58 MINUTES
8
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GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RlGHT OF WAY OF 2ND STREET (RJW V ARIES)
AND ELLIS STREET (R/W V ARIES) AND CONTINUING WEST ALONG THE NORTH
RlGHT OF WAY OF ELLIS STREET 482.85 FEET :t TO A #5 REBAR FOUND AND THE
TRUE POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE
.NORTH RlGHT OF WAY OF ELLIS STREET NORTH 66 DEGREES 04 MINUTES 37
SECONDS WEST A DISTANCE OF 39 .47 FEET TO A 1 INCH CRIMPED TOP FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF DOWNTOWN
AUGUSTA, INC. NORTH 24 DEGREES 12 MINUTES 56 SECONDS EAST A DISTANCE
OF 101.67 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING
ALONG THE LINE OF DOWNTOWN AUGUSTA, INC. SOUTH 64 DEGREES 35
MINUTES 12 SECONDS EAST A DISTANCE OF 40.87 FEET TO A #5 REBAR FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP BIRD SOUTH 25
DEGREES 00 MINUTES 25 SECONDS WEST A DISTANCE OF 100.63 FEET TO THE
TRUE POINT OF BEGINNING AND CONTAINING 0.09 ACRES (4,062.79 SQUARE .
FEET).
LEGAL DESCRIPTION: 104-106 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RlCHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTAJACSM LAND TITLE SURVEY DATED NOVEMBER 4,1998, PREPARED
BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHWEST RlGHT OF. WAY OF 1 ST STREET (R/W VARIES)
AND ELLIS STREET (RJW VARIES) BEING THE TRUE POINT OF BEGINNING AND
. CONTINUING ALONG THE WEST RlGHT OF WAY OF 1 ST STREET SOUTH 24
DEGREES 44 MINUTES 10 SECONDS WEST A DISTANCE OF 138.67 FEET TO A #5
REBAR SET; THENCE TURNING AND CONTINUING ALONG THE LINE OF NIP DAVIS
AND NIP CARMAIN NORTH 65 DEGREES 35 MINUTES 29 SECONDS WEST A
DISTANCE OF 84.95 FEET TO A 3/4 INCH CRIMPED TOP FOUND; THENCE TURNING.
AND CONTINUING ALONG THE LINE OF NIP TINLEY AND NIP NEWSOME NORTH 24
DEGREES 43 MINUTES 14 SECONDS EAST A DISTANCE OF 138.06 FEET TO A 3/4
INCH CRIMPED TOP FOUND; THENCE TURNING AND CONTINUING ALONG THE
SOUTH RlGHT OF WAY OF ELLIS STREET SOUTH 66 DEGREES 00 MINUTES 00
SECONDS EAST A DISTANCE OF 84.99 FEET TO THE TRUE POINT OF BEGINNING
AND CONTAINING0.27 ACRES (11,156.37 SQUARE FEET).
LEGAL DESCRIPTION: 222 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND LYING AND BEING IN
RlCHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
18
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A. ,/", ~\ .
ON AN ALTA/ACSM LAND TITLE SURVEY DATED OCTOBER 29, 1998, PREPARED
BY W.R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662, AND HAVING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHWEST RIGHT OF WAY OF 2ND STREET (R/W V ARIES)
AND ELLIS STREET (R/W V ARIES) AND CONTINUING WEST ALONG ELLIS STREET
348.65 FEET :t TO A RAILROAD SPIKE FOUND AND THE TRUE POINT OF
BEGINNING; THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F
WILLIAMS SOUTH 24 DEGREES 26 MINUTES 19 SECONDS WEST A DISTANCE OF
107.86 FEET TO A 3/4 OPEN TOP FOUND; THENCE TURNING AND CONTINUING
ALONG THE LINE OF N/F DEMEDICIS NORTH 66 DEGREES 12 MINUTES 45 SECONDS
WEST A DISTANCE OF 49.61 FEET TO A 1/2 INCH OPEN TOP FOUND; THENCE
. TURNING AND CONTINUING ALONG THE LINE OF N/F BAILEY NORTH 24 DEGREES
17 MINUTES 42 SECONDS EAST A DISTANCE OF 108.02 FEET TO A #5 REBAR
FOUND; THENCE TURNING AND CONTINUING ALONG THE SOUTH RIGHT OF WAY
OF ELLIS STREET SOUTH 66 DEGREES 01 MINUTE 14 SECONDS EAST A DISTANCE
OF 49.88 FEET TO THE TRUE POINT OF BEGINNING CONTAINING 0.12 ACRES
(5,369.21 SQUARE FEET).
LEGAL DESCRIPTION: 244 WALKER STREET
ALL THAT LOT OR PARCEL OF LAND, WITH IMPROVEMENTS THEREON, SITUATE,
LYING AND BEING IN THE CITY OF AUGUSTA, RICHMOND COUNTY, GEORGIA,
FRONTING 50 FEET, MORE ORLESS, ON THE SOUTH SIDE OF WALKER STREET
BETWEEN HOUSTON (SECOND) AND LINCOLN (THIRD) STREETS AND EXTENDING
BACK IN A SOUTHERLY DIRECTION BETWEEN PARALLEL LINES A DISTANCE OF
132 FEET, MORE OR LESS, AND BEING KNOWN AND DESIGNATED AS LOT 115 ON A
PLAT RECORDED IN THE OFFICE OF THE CLERK OF SUPERIOR COURT OF
RICHMOND COUNTY, GEORGIA, IN REALTY BOOK 2F, PAGES 252 - 253, AND
BOUNDED AS FOLLOWS: ON THE NORTH, BY WALKER STREET; ON THE EAST, BY
LOT 114 OF SAID PLAT; ON THE SOUTH, BY LOT NOW OR FORMERLY OF THE
ESTATE OF W.T. DAVIDSON; AND ON THE WEST, BY LOT116 OF SAID PLAT.
. SAID PROPERTY IS KNOWN AND DESIGNATED AS 244 WALKER STREET
ACCORDING TQ THE SYSTEM OF STREET NUMBERING CURRENTLY IN USE IN
AUGUSTA, RICHMOND COUNTY, GEORGIA.
LEGAL DESCRIPTION: 236 AND 238 WALKER STREET
ALL THAT LOT OR PARCEL OF LAND, WITH IMPROVEMENTS THEREON, SITUATE,
LYING AND BEING IN THE CITY OF AUGUST A, RICHMOND COUNTY, GEORGIA, ON
THE SOUTH SIDE OF WALKER STREET, BETWEEN HOUSTON (SECOND) STREET
AND LINCOLN (THIRD) STREETS, HAVING A FRONT AGE ON SAID WALKER STREET
19
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... r.O:, '
OF 40 FEET, MORE OR LESS, AND EXTENDING BACK IN A SOUTHERLY DIRECTION
OF EVEN WIDTH A DISTANCE OF 132 FEET, MORE OR LESS, AND BEING BOUNDED:
ON THE NORTH, BY WALKER STREET; ON THE EAST, BY LOT NOW OR FORMERLY
OF MARY W. TERRILL; ON THE SOUTH, BY PROPERTY NOW OR FORMERLY OF H.S.
JONES; AND ON THE WEST, BY PROPERTY NOW OR FORMERLY OF EARL A.
ROOKS. SAID LOT BEING FORMERLY DESIGNATED AS LOT NO.8, BLOCK 4, WARD
1 ON THE PLAT BOOK OF THE CITY COUNCIL OF AUGUST A, BUT IS NOW
DESIGNATED AS LOT NO.8, BLOCK 41, BLOCK A OF THE PRESENT CITY COUNCIL
OF AUGUSTA PLAT BOOK, AND BEING A PORTION OF THE PROPERTY CONVEYED
TO MRS. THELMA STEPHENS CORMAN, AJKJ A MRS. THELMA STEPHENS KORMAN
BY VIRTUE OF A YEAR'S SUPPORT FROM THE ESTATE OF ALEX CORMAN AJKJA
ALEX KORMAN.
A MORE RECENT PLAT PREPARED BY TOOLE SURVEYING COMPANY FOR OLDE
TOWN PROPERTIES I, DATED MARCH 20, 1989 IS RECORDED IN THE OFFICE OF THE
CLERK OF SUPERIOR COURT OF RICHMOND COUNTY, GEORGIA, IN REALTY REEL
307, PAGE 714.
SAID PROPERTY IS KNOWN AND DESIGNATED AS 236-238 WALKER STREET
ACCORDING TO THE SYSTEM OF STREET NUMBERING CURRENTLY IN USE IN
AUGUSTA, RICHMOND COUNTY, GEORGIA.
LEGAL DESCRIPTION: 212 ELLIS STREET
ALL THAT LOT OR PARCEL OF LAND, WITH IMPROVEMENTS THEREON, SITUATE,
LYING AND BEING IN THE CITY OF AUGUST A, RICHMOND COUNTY, GEORGIA,
BEGINNING AT A POINT ON THE SOUTH SIDE OF ELLIS STREET, WHICH POINT IS
150 FEET FROM THE INTERSECTION OF THE RIGHTS OF WAY OF SECOND STREET
AND ELLIS STREET AT THE SOUTHWESTERNMOST POINT OF INTERSECTION;
THENCE TURNING SOUTH 25 DEGREES 1 MINUTE WEST AND RUNNING A
DISTANCE OF 135.25 FEET TO AN IRON PIPE; THENCE, TURNING NORTH 65
DEGREES 30 MINUTES WEST AND RUNNING A DISTANCE OF 48.7 FEET; THENCE,
TURNING NORTH 24 DEGREES 30 MINUTES EAST AND RUNNING A DISTANCE OF
24 FEET; THENCE TURNING SOUTH 65 DEGREES 30 MINUTES EAST AND RUNNING
A DISTANCE OF 3 FEET; THENCE, TURNING NORTH 24 DEGREES 30 MINUTES EAST
. AND RUNNING A DISTANCE OF 111.25 FEET TO A NAIL AND CAP IN THE
CONCRETE ON THE SOUTH SIDE OF ELLIS STREET; THENCE TURNING SOUTH 65
DEGREES 30 MINUTES EAST AND RUNNING A DISTANCE OF 47 FEET ALONG THE
SOUTH SIDE OF ELLIS STREET TO THE POINT OF BEGINNING.
SAID PROPERTY IS DELINEATED ON A CERTAIN PLAT OF THE SAME PREPARED
BY BOBBY G. PRICE, REGISTERED LAND SURVEYOR, A COPY OF WHICH IS
ATTACHED TO AND INCORPORATED IN AN EXECUTOR'S DEED CONVEYING SAID
PROPERTY TO DOWNTOwN AUGUSTA, INe. DATED SEPTEMBER 15, 1977 AND
20
F:\Doeumcnts\PRC\white oak\LEGAL DESCRIPTIONS.COMBINE4.doc
~ r", .
RECORDED IN THE OFFICE OF THE CLERK OF SUPERIOR COURT OF RICHMOND
COUNTY, GEORGIA, IN REALTY REEL 82, PAGES 459-461.
SAID PROPERTY IS THE SAME PROPERTY WHICH WAS CONVEYED TO GORDON W.
CHAMBERS BYW ARRANTY DEED FROM JULIA R. COHEN DATED AUGUST 28, 1993
AND RECORDED IN REALTY BOOK 12Q, PAGE 228, IN THE CLERK'S OFFICE.
LEGAL DESCRIPTION 214 - 216 ELLIS STREET
. ALL THAT LOT OR PARCEL OF LAND WITH IMPROVEMENTS THEREON, SITUATE.
LYING AND BEING IN THE CITY OF AUGUSTA, RICHMOND COUNTY, GEORGIA,
FRONTING 50 FEET MORE OR LESS ON THE SOUTH SIDE OF ELLIS STREET
BETWEEN HOUSTON (SECOND) AND LINCOLN (THIRD) STREETS, AND EXTENDING
BACK OF EVEN WIDTH 110 FEET, MORE OR LESS, AND BEING BOUNDED: ON THE
NORTH BY ELLIS STREET, ON THE EAST BY LOT NOW OR FORMERLY OF
CHAMBERS ON THE SOUTH BY LOT NOW OR FORMERLY OF MCCARRELL AND ON
THE WEST BY LOT NOW OR FORMERLY OF HOWARD ESTATE.
ALSO ALL THAT LOT OR PARCEL OF LAND WITH IMPROVEMENTS THEREON _
SITUATE, LYING AND BEING IN THE CITY OF AUGUSTA, RICHMOND COUNTY, c
GEORGIA, FRONTING 3 FEET ON THE SOUTH SIDE OF ELLIS STREET BETWEEN
HOUSTON (SECOND) AND LINCOLN (THIRD) STREETS AND EXTENDING BACK OF
EQUAL WIDTH 126 FEET AND BEING BOUNDED: ON THE NORTH BY ELLIS STREET,
ON THE EAST BY LOT NOW OR FORMERLY OF JULIA R. COHEN FROM WHICH THIS
STRIP WAS TAKEN ON THE SOUTH BY LOT NOW OR FORMERLY OF JULIA R.
COHEN AND ON THE WEST BY LOT NOT OR FORMERLY OF MATTIE M. SATCHER.
SAID PROPERTY IS KNOWN AND DESIGNATED AS 214-216 ELLIS STREET
ACCORDING TO THE SYSTEM OF STREET NUMBERING CURRENTLY IN USE IN
AUGUSTA, RICHMOND COUNTY, GEORGIA.
PROPERTY HEREINABOVE DESCRIBED AS 212 ELLIS STREET AND 214-216 ELLIS
STREET BEING THE SAME PROPERTY AS MORE P ARTICULARL Y DESCRIBED ON
THAT CERTAlN ALTNACSM LAND TITLE SURVEY DATED NOVEMBER 12, 1998,
PREPARED BY W'R. TOOLE ENGINEERS, INC. AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662 AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHWEST RIGHT OF WAY OF 2ND STREET (RJW VARIES)
AND ELLIS STREET (R/W VARIES) AND CONTINUING WEST A DISTANCE OF 151.0
FEET :t TO A #5 REBAR FOUND AND THE TRUE POINT OF BEGINNING; THENCE
TURNING AND CONTINUING ALONG THE LINE OF N/F BROWN SOUTH 25 DEGREES
07 MINUTES 02 SECONDS WEST A DISTANCE OF 135.25 FEET TO A 1 1/2 INCH OPEN
TOP FOUND; THENCE TURNINCJ AND CONTINUING ALONG THE LINE OF N/F
PHILLIPS NORTH 65 DEGREES 26 MINUTES 31 SECONDS WEST A DISTANCE OF
21
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... .') .
48.70 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG
THE LINE OF N/F SWEAT NORTH 24 DEGREES 19 MINUTES 50 SECONDS EAST A
DISTANCE OF 23.94 FEET TO A #4 REBAR SET; THENCE CONTINUING ALONG THE
LINE OF N/F SWEAT NORTH 64 DEGREES 24 MINUTES 49 SECONDS WEST A
DISTANCE OF 49.31 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF N/F WALTON NORTH 23 DEGREES 53 MINUTES
54 SECONDS EAST A DISTANCE OF 109.38 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE SOUTHERN RIGHT-OF-WAY OF ELLIS
STREET SOUTH 66 DEGREES 02 MINUTES 11 SECONDS EAST A DISTANCE OF 100.67
FEET TO A #5 REBAR FOUND AND THE TRUE POINT OF BEGINNING AND
CONTAINING 0.28 ACRES (12,170.34 SQUARE FEET)
LEGAL DESCRIPTION 211 & 213 BROAD STREET
ALL THAT LOT OR PARCEL OF LAND, WITH IMPROVEMENTS THEREON, SITUATE,
LYING AND BEING IN THE CITY OF AUGUST A, RICHMOND COUNTY, GEORGIA,
FRONTING 42 FEET, MORE OR LESS, ON THE NORTH SIDE OF BROAD STREET, AND
EXTENDING BACK BETWEEN PARALLEL LINES A DISTANCE OF 134 FEET, MORE
OR LESS, AND BEING DESIGNATED AS EXHIBIT "B" ON A PLAT ATTACHED.TO AN
A WARD OF YEAR'S SUPPORT MADE TO MARY ALICE WISE FROM THE EST ATE OF
J. THOMAS WISE, APPEARING OF RECORD IN YEAR'S SUPPORT BOOK 2-J, PAGE 46,
IN THE OFFICE OF THE CLERK. OF SUPERIOR COURT OF RICHMOND COUNTY,
GEORGIA, AND BEING BOUNDED: ON THE NORTH, BY PROPERTY NOW OR
FORMERLY OF T.F. BROADWATER; ON THE EAST, BY PROPERTY NOW OR
FORMERLY OF F.H. CASEY; ON THE SOUTH BY BROAD STREET; AND THE WEST,
BY PROPERTY NOW OR FORMERLY OF B.F. DAVIS.
SAID PROPERTY IS KNOWN AND DESIGNATED AT 211-213 BROAD STREET
ACCORDING TO THE SYSTEM OF STREET NUMBERING CURRENTLY IN USE IN
AUGUSTA, RICHMOND COUNTY, GEORGIA.
LEGAL DESCRIPTION 107 ELLIS STREET
ALL THAT LOT OR PARCEL OF LAND. WITH IMPROVEMENTS THEREON, SITUATE,
LYING AND BEING IN THE CITY OF AUGUSTA, RICHMOND COUNTY, GEORGIA, AT
THE NORTHEAST CORNER OF ELLIS AND FORSYTH STREETS, HAVING A FRONT
OF 40 FEET ON ELLIS STREET AND RUNNING BACK OF EVEN WIDTH 98 FEET,
MORE OR LESS, AND BEING BOUNDED AS FOLLOWS: ON THE NORTH, BY LOT,
NOW OR FORMERLY, OF MRS. KATE V. O'NEALL; ON THE EAST, BY PROPERTY,
NOW OR FORMERLY, OF CHARLES D. CARR; ON THE SOUTH, BY ELLIS STREET;
AND ON THE WEST, BY FORSYTHE STREET. . .
22
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'.
.. ,-', .
SAID PROPERTY IS KNOWN AND DESIGNATED AS 107 ELLIS STREET ACCORDING
TO THE SYSTEM OF NUMBERING CURRENTLY IN USE IN AUGUST A, RICHMOND
COUNTY, GEORGIA.
LEGAL DESCRIPTION 133 BROAD STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTNACSM LAND TITLE SURVEY, DATED OCTOBER 28,1998, LAST
REVISED DECEMBER 7, 1998, PREPARED BY W.R. TOOLE ENGINEERS, INe., AND
CERTIFIED BY STEVEN M. HARDY, GEORGIA REGISTERED LAND SURVEYOR NO.
2662 AND HAVING THE FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE NORTHEAST RIGHT-OF- WAY OF 2ND STREET (RIW V ARIES)
AND BROAD STREET (RIW V ARIES) AND CONTINUING EAST ALONG THE NORTH
RIGHT-OF - WAY OF BROAD STREET 40 FEET :l: TO A #4 REBAR FOUND AND THE
POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE LINE OF
N/F IMAN, INe. & N/F BAIN NORTH 24 DEGREES 00 MINUTES 44 SECONDS EAST A
DISTANCE OF 137.92 FEET TO A POINT; THENCE TURNING AND CONTINUING u
ALONG THE LINE OF N/F DOWNTOWN AUGUSTA, INC. SOUTH 67 DEGREES 13 :
MNUTES 30 SECONDS EAST A DISTANCE OF 47.33 FEET TO A #5 REBAR FOUND;
THENCE TURNING AND CONTINUING ALONG THE LINE OF N/F SW ANCY SOUTH 22
DEGREES 54 MINUTES 45 SECONDS WEST A DISTANCE OF 137.97 FEET TO A #5
REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE NORTH RIGHT-
OF-WAY OF BROAD STREET NORTH 67 DEGREES 07 MINUTES 49 SECONDS WEST A
DISTANCE OF 49.99 FEET TO THE POINT OF BEGINNING.
LEGAL DESCRIPTION 303 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTNACSM LAND TITLE SURVEY, DATED 11/9/98, PREPARED BY W.R.
TOOLE ENGINEERS, INC., AND CERTIFIED BY STEVEN M. HARDY, GEORGIA
REGISTERED LAND SURVEYOR NO. 2662 AND HAVING THE FOLLOWING METES
AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWEST RIGHT-OF- WAY OF 3RD STREET (R/W V ARIES)
AND ELLIS STREET (R/W V ARIES) AND CONTINUING WEST ALONG THE RIGHT OF
WAY OF ELLIS STREET 44.0 FEET :l: TO A 3/4 INCH OPEN TOP FOUND AND THE
POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE NORTH
RIGHT-OF-WAY OF ELLIS STREET NORTH 66 DEGREES 00 MINUTES 00 SECONDS
WEST A DISTANCE OF 40.31 FEET TO. A #4 REBAR SET; THENCE TURNING AND
CONTINUING ALONG THE LINE OF N/F OLDE TOWN PROPERTIES NORTH 24
DEGREES 36 MINUTES 21 SECONDS EAST A DISTANCE OF 132.52 FEET TO A 5/8
INCH OPEN TOP FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE
23
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. .....J
OF N/F BROWN SOUTH 65 DEGREES 40 MINUTES 17 SECONDS EAST A DISTANCE
OF 40.48 FEET TO A #5 REBAR FOUND; THENCE TURNING AND CONTINillNG
ALONG THE LINE OF N/F DOWNTOWN AUGUST A, INC. SOUTH 24 DEGREES 40
MINUTES 52 SECONDS WEST A DISTANCE OF 132.29 FEET TO THE POINT OF
BEGINNING AND CONTAINING 0.12 ACRES (5,347.50 SQUARE FEET).
LEGAL DESCRIPTION 240 ELLIS STREET
ALL THA T CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "B" ON AN ALTA/ACSM LAND TITLE SURVEY, DATED 11/4/98,
PREP ARED BY W.R. TOOLE ENGINEERS, INe., AND CERTIFIED BY STEVEN M.
. HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662 AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT-OF-WAY OF 3RD STREET (RJW V ARIES)
AND ELLIS STREET (RJW VARIES) AND CONTINillNG EAST ALONG THE SOUTH
RIGHT-OF-WAY OF ELLIS STREET 126.98 FEET:I: TO A #5 REBAR FOUND AND THE
POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE SOUTH
RIGHT-OF-WAY OF J;:LLIS STREET SOUTH 65 DEGREES 58 MINUTES 12 SECONDS:
EASTA DISTANCE OF 40.02 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF 238 ELLIS STREET SOUTH 23 DEGREES 13
MINUTES 03 SECONDS WEST A DISTANCE OF 133.97 FEET TO A #5 REBAR FOUND;
THENCE TURNING AND CONTINillNG ALONG THE LINE OF N/F DAVENPORT & N/F
BUCKLEY NORTH 64 DEGREES 28 MINUTES 07 SECONDS WEST A DISTANCE OF
40.62 FEET TO A#5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG
THE LINE OF 246 ELLIS STREET NORTH 23 DEGREES 27 MINUTES 57 SECONDS'
EAST A DISTANCE OF 132.90 FEET TO THE POINT OF BEGINNING AND
CONTAINING 0.12 ACRES (5,377.60 SQUARE FEET).
LEGAL DESCRIPTION 238 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "A" ON AN ALTAlACSM LAND TITLE SURVEY, DATED 11/4/98,
PREP ARED BY W.R. TOOLE ENGINEERS, INC., AND CERTIFIED BY STEVEN M.
HARDY, GEORGIA REGISTERED LAND SURVEYOR NO. 2662' AND HAVING THE
FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT -OF - WAY OF 3RD STREET (R/W V ARIES)
AND ELLIS STREET (R/W V ARIES) AND CONTINUING EAST ALONG THE SOUTH
RIGHT-OF-WAY OF ELLIS STREET 167.00 FEET:I: TO A #5 REBAR FOUND AND THE
POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE SOUTH
RIGHT-OF-WAY OF ELLIS STREET SOUTH 66 DEGREES 02 MINUTES 19 SECONDS
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EAST A DISTANCE OF 59.85 FEET TO A #5 REBAR FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIF BOLD SOUTH 24 DEGREES 26 MINUTES 51
SECONDS WEST A DISTANCE OF 134.34 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF NIF HAYES & NIF DAVENPORT
NORTH 65 DEGREES 39 MINUTES 41 SECONDS WEST A DISTANCE OF 56.98 FEET TO
A #5 REBAR FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF
240 ELLIS STREET NORTH 23 DEGREES 13 MINUTES 03 SECONDS EAST A DISTANCE
OF 133.97 FEET TO THE POINTOF BEGINNING AND CONTAINING 0.18 ACRES
(7,836.54 SQUARE FEET).
LEGAL DESCRIPTION 403 AND 405 WALKER STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND. COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTA/A~SM LAND TITLE SURVEY, DATED 11/6/98,-PREPARED BY W.R.
TOOLE ENGINEERS, INC., AND CERTIFIED BY STEVEN M. HARDY, GEORGIA
REGISTERED LAND SURVEYOR NO. 2662 AND HAVING THE FOLLOWING METES
AND BOUNDS TO WIT:
BEGINNING AT THE NORTHWESt RIGHT-OF-WAY OF 4TH STREET (R/WVARIES)
AND WALKER STREET (R/W VARIES) AT A P.K. NAIL FOUND THE POINT OF
BEGINNING; THENCE TURNING AND CONTINUING ALONG THE NORTH RIGHT-OF-
WAY OF WALKER STREET NORTH 64 DEGREES 56 MINUTES 55 SECONDS WEST A
DISTANCE OF 100.28 FEET TO A #4 REBAR SET; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIF ZARGE NORTH 24 DEGREES 19 MINUTES 28
SECONDS EAST A DISTANCE OF 90.16 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE LINE OF NIF NAOMI SOUTH 64 DEGREES
34 MINUTES 02 SECONDS EAST A DISTANCE OF 100.20 FEET TO A POINT; THENCE
TURNING AND CONTINUING ALONG 'THE WEST RIGHT-OF-WAY OF 4TH STREET
SOUTH 24 DEGREES 15 MINUTES 59 SECONDS WEST A DISTANCE OF 89.49 FEET TO
THE POINT-OF-BEGlNNING AND CONTAINING 0.21 ACRES (9,002.57 SQUARE FEET).
LEGAL DESCRIPTION 246 ELLIS STREET
ALL THAT CERTAIN PIECE, PARCEL OE- LOT OFtAND, LYING AND BEING IN
. RICHMOND COUNTY, GEORGIA;BEING MORE FULLY SHOWN AND DESIGNATED
AS TRACT "C" ON AN ALTA/ACSM LAND TITLE SURVEY DATED 11/4/98, PREPARED
BY W.R. TOOLE ENGINEERS, INC., AND CERTIFIED BY STEVEN M. HARDY,
GEORGIA REGISTERED LAND SURVEYOR NO. 2662 AND HA VING THE FOLLOWING
METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT -OF - WAY OF 3RD STREET (R/W V ARIES)
AND ELLIS STREET (R/W V ARIES) 82 FEET :l: TO A #5 REBAR FOUND AND THE
POINT OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE SOUTH
25
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. {,~1I ..
NORTH, BY ELLIS STREET; ON THE EAST, BY PROPERTY NOW OR FORMERLY OF
BADGER; ON THE SOUTH, BY PROPERTY NOW OR FORMERLY OF MURPHEY; ON
THE WEST, BY PROPERTY NOW OR FORMERLY OF HARRISON.
SAID PROPERTY IS KNOWN AND DESIGNATED AS 204 ELLIS STREET ACCORDING
TO THE SYSTEM OF STREET NUMBERING CURRENTLY USED IN AUGUST A,
RICHMOND COUNTY, GEORGIA.
LEGAL DESCRIPTION: 3062ND STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON ANALTNACSM LAND TITLE SURVEY DATED NOVEMBER 5, 1998, LAST
REVISED DECEMBER 7, 1998, PREPARED BY W. R. TOOLE ENGINEERS, INC., AND .
CERTIFIED BY STEVEN M. HARDY, GEORGIA REGISTERED LAND SURVEYOR NO.
2662 AND HAVING THE FOLLOWING METES AND BOUNDS TO WIT:
BEGINNING AT THE SOUTHEAST RIGHT -OF- WAY OF ELLIS STREET (R/W V ARIE_S) .
AND 2ND STREET (R/W V ARIES) AND CONTINUING SOUTH 39 FEET :t TO A #5
REBAR FOUND AND THE POINT OF BEGINNING; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIF PETTIGREW SOUTH 70 DEGREES 47
MINUTES 28 SECONDS EAST A DISTANCE OF 82.81 FEET TO A 1 1/2 INCH OPEN TOP
FOUND; THENCE TURNING AND CONTINUING ALONG THE LINE OF NIF RAMBO &
NIF WEATHERS SOUTH 19 DEGREES 27 MINUTES 24 SECONDS WEST A DISTANCE
OF43.62 FEET TO POINT; THENCE TURNING AND CONTINUING ALONG THE LINE
OF NIF WRIGHT NORTH 70 DEGREES 15 MINUTES 37 SECONDS WEST A DISTANCE
OF 19.31 FEET TO A POINT; THENCE TURNING AND CONTINUING SOUTH 18
DEGREES 57 MINUTES 16 SECONDS WEST A DISTANCE OF 4.58 FEET TO A POINT;
THENCE TURNING AND CONTINUING ALONG THE LINE OF NIF WRIGHT NORTH 70
DEGREES 43 MINUTES 46 SECONDS WEST A DISTANCE OF 65.26 FEET TO A PUNCH
IN CONCRETE; THENCE TURNING AND CONTINUING ALONG THE EAST RIGHT-OF-
WAY OF 2ND STREET NORTH 21 DEGREES 31 MINUTES 05 SECONDS EAST A
DISTANCE OF 47.98 FEET TO THE POINT OF BEGINNING.
LEGAL DESCRIPTION: 515 3RD STREET
ALL THAT CERTAIN PIECE, PARCEL OR LOT OF LAND, LYING AND BEING IN
RICHMOND COUNTY, GEORGIA, BEING MORE FULLY SHOWN AND DESIGNATED
ON AN ALTNACSM LAND TITLE SURVEY DATED 11/4/98, PREPARED BY W. R.
TOOLE ENGINEERS, INe., AND CERTIFIED BY STEVEN M. HARDY, GEORGIA
REGISTERED LAND SURVEYOR NO. 2662 AND HAVING THE FOLLOWING METES
AND BOUNDS TO WIT:
27
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BEGINNING AT THE NORTHWEST RIGHT-OF-WAY OF WALKER STREET (RIW
VARIES) AND 3RD STREET (R/W VARIES) AND CONTINUING NORTH ALONG THE
WEST RIGHT-OF-WAY OF 3RD STREET 61.59 FEET:t TO A #4 REBAR SET THE POINT
OF BEGINNING; THENCE TURNING AND CONTINUING ALONG THE LINE OF NIF
FLANAGAN NORTH 66 DEGREES 25 MINUTES 27 SECONDS WEST A DISTANCE OF
73.64 FEET TO A #4 REBAR SET; THENCE TURNING AND CONTINUING ALONG THE
LINE OF NIF WIGGINS NORTH 23 DEGREES 44 MINUTES 48 SECONDS EAST A
DISTANCE OF 46.83 FEET TO A 5/8 INCH OPEN TOP FOUND; THENCE TURNING AND
CONTINUING ALONG THE LINE OF NIF RICHARDS SOUTH 65 DEGREES 55 MINUTES
31 SECONDS EAST A DISTANCE OF 73.39 FEET TO A #5 REBAR FOUND; THENCE
TURNING AND CONTINUING ALONG THE WEST RIGHT-OF-WAY OF 3RD STREET
SOUTH 23 DEGREES 26 MINUTES 22 SECONDS WEST A DISTANCE OF 46.19 FEET TO
THE POINT OF BEGINNING AND CONTAINING 0.08 ACRES (3,419.07 SQUARE FEET).
28
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EXHIBIT B
PERMITTED TITLE EXCEPTIONS
1. Rights of tenants in possession
2. Joint Driveway Easement, recorded in Realty Reel 120, page 1498 of the Richmond
County, Georgia real estate records (the "Records"), relating to 256, 258, and 260 Greene Street
3. . Rights of others pursuant to joint driveway agreement, recorded in Realty Book 8-0,
page 500, as modified by agreement recorded in Realty Book 14-L, page 108 of the Records,
relating to 325-327 Ellis Street
4. Easement recorded in Realty Book 13-R, page 472 of the Records, relating to 219-221
Ellis Street
5. Rights of others pursuant to agreement recorded at Realty Book 38-R, page 3 ofthe
Records, relating to 303 Ellis Street
6. Easement recorded in Realty Book 21-B, page 165 of the Records, relating to 260
Reynolds Street
7. Easement recorded in Realty Book 13-Q, page 510 of the Records, relating to 403-405
Walker Street
8. Real estate taxes for 1999 and subsequent years to the extent not yet due and payable
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CERTIFICATE OF CORPORATE GENERAL PARTNER
I certify that I am the duly elected and acting Vice
President of White Oak Olde Town, Inc., a corporation organized
and existing under the laws of the State of Georgia (the
"General Partner"), which is the managing general partner' of
Olde Town Associates, L.P., a Georgia limited partnership (the
"Partnership"). In connection with the Partnership's request for
financing from Augusta, Georgia (the "Lender") for the Olde Town
Apartments rental housing proj ect (the "proj ect"), I further
certify that:
1. The General Partner is the managing general partner of
the Partnership with full power and authority to act on behalf
of and bind the Partnership.
2. The attached Exhibit A is a true and complete copy of
the Certificate of Incorporation of White Oak Olde Town, Inc.
with all amendments (if any), as filed with the Georgia
Secretary of State.
3. The attached Exhibit B is a true and complete copy of
the duly adopted Bylaws of the General Partner with all
amendments (if any) attached or incorporated.
4. Except for any amendments attached to or incorporated
in Exhibits A and B, the General Partner's Certificate of
Incorporation and the Bylaws have not been amended, terminated,
or canceled, and they remain in effect as of the' date of this
Certificate.
5. The attached Exhibit C is a true and complete copy of
the corporate resolutions authorizing a secured loan by the
Partnership from Lender, which resolutions have not been
amended, rescinded, or modified, remain in effect, and do not
violate or conflict with the certificate of limited partnership
or limited partnership agreement of the Partnership.
6. The attached Exhibit D is a true and complete copy of
the certificate of existence of the General Partner, issued by
the Georgia Secretary of State wi thin 6 months of the date of
this Certificate. The General Partner is in good standing under
Georgia law and has not done or omitted to do anything that
would affect its good standing under Georgia law as of the date
of this Certificate.
Sent By: The Drummond Law Group, P.C.;
404 898 1201 i
Dee.28.98 10:49AM;
7. The persons whose names appear below are the duly
elected, qualified, and acting officers of the General
Partner, and in such capacities have the power to execute
and deliver documents, instruments, agreements, and
certificates on behalf of the corporation in connection
with Lender's loan to the Partnership for the Project. The
signatures opposite their names are their genuine
signatures.
Paula J. Ryan
Renee Fowler
8 .
Lender,
for the
it.
This Certificate 1s given for the benefit of
and, in connection with its loan to the Partnership
project, Lender may rely upon the certifications in
III mTlGSS If8lIRIlOI', t have executed this Certificate
this ~ day of December, 1998.
-
l;j2s ~ '
e'nee Fowler ":
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[SEAL]
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I hereby certify that: (a)
qualified, and acting President of
Renee Fowler is the duly elect
Vice President of the Gener
signature of the Vice Preside t
genuine signature.
I am the duly elected,
the General Partner; (b)
qualified, and acting
Partner; and (c) the
set forth above her
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Hi Corporations Division .
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1'];; Atlanta', Georgia 30334-1530 .
CONTROL NuMBER:
EFFECTIVE DATE:
COUNTY
REFERENCE
PRINT OATS
FORM NUMBER
9833925
09/15/1998
GWINNETT
0045
09/15/1998
311
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:j PARANET CORPORATION SERVICES, INC,
Pi DONNA HYDE
)~ 3761 VENTURE DRIVE, STE 260
.:; DULUTH, GA 30096
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. CBRTIFICATE OF INCOllPORATION
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'::i{ I, Lewis A. Mass~y)n the,.:?~cretary of State and the Corporation
~,;\;' Commissioner (iJr:th~ St~t~rj,;'of Georgia, do hereby certify under the
:i;~ seal of my office that
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. WHIT. OAK OLD. TOWN, me.
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A DOMESTlc PROFIT CORPORATION
:.~ has been duly incorporated under the lawB of the State of Georgia
':;i on the effective date stated above by the filing of articles of
.,
~\~ incorporation in the .office of the Secretary of State and by the
',;:r paying of fees as prov~~ed ,.~~. Title 14 of the Official Code' of
,!!rt'GeOrgia Annotat~;..; '.,'.,
)? WITNESS my hand:aI.1c1 official Bea'l in the City of Atlanta and the
:} State of Georgij~ f~. the~~~ate. ~.;~ ~orth above'.
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Lewis A. Massey
Secretary of State
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Articles of Incorporation
Of
White Oak Olde Town, Inc.
Article I
The name of the. corporation is White Oak Olde Town, Inc.
Article II
The corporation is authorized to issue one thousand (1,000) shares.
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Article III
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The street address of the registered office is:
3761 Venture Drive, Suite 260
Duluth, Georgia 30096.
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The registered agent at such address is: .
Paranet Corporation Services, Inc.
Article IV
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The name and address of the incorporator is:
Renee Fowler
222 Clematis Street, Suite 206
West Palm Beach, Florida 33401
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Article V
The principal mailing address of the corporation is:
222 Clematis Street, Suite 206
West Palm Beach, Florida 33401
'f IN WITNESS WHEREOF, the
Incorporation.
This 14th day of September, 199B.
of
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OF
W1UTE OAK OLDE TOWN, me.
ARTICLE ONE
Capital Stock
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1.1 Certificates. The Board of Directors ("Board of Directors" or ''Board'') ofWHlTE OAK
OLOE TOWN, INC. (the llCorporationll) may authori1.e the issuance of some or all oftbe shares of any or all
oftbe Corporations' classes or series by issuing certificates to represent such shares, Shares represented by
certificares, at a minimwn, shall sI3t.e on tbcU' fu.ce: (1) the name of the CorpoI1dion and that 1he Corporaticn
is OrgJini71'Jd undertbc laws ofOeorgja; (2) me name ofme person to whom the shares are issued; and (3) the
number and class of shares and the designation of the series, if any, that the certificate represents. Share
certificat.c:s shall be numbered in the order in which they are issued.lcept in a stock tr.msfer book, and issued
in consecutive order therefrom. Share certificates shall be signed, either manually or in facsimile, by the
President and may bear the corporate Seal or its facsinillc. Share certificates exchanged or returned shall be
canceled by the Secretuy and placed in their original place in the stock book.
1.2 Transfers. Transfers of shares shall be made 011 the stock book of the Corporation by the
holder, in person or by power ofattomey, on surrender of the duly assigned certificate representing such
shares .
1.3 Votiml: Rights.. Each outstanding share, regardless of class, shall be entitled to one vote, except
as provided in subsections (b) and (e) ofO.C.G.A, ~ 14-2-121 of the Georgia Business Corporation Code (the
"Codell) or unless otherwise provided in the articles of incorporation.
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ARTICLE TWO
Shareholders' Meetings
2.1 Date of Annual MeetinJl. The annual meeting of the shareholders of the Corporation shall be
OD the first Monday in Match of each year. Of. if such day is a Iega1 holiday, then on the next su~ing day
that is not a holiday.
2.2 Place. Time. and Notice of Annual and Suecial Meetin~s. Annual or special meetings of
shareholders may be held within or without the State of Georgia at such place and time as the Board of
Directors may from time to time fut or as may be specified in the notice of said meeting, upon no fewer th<m.
ten nor more than sixty days' notice either mailed to the last known address of each shareholder or personally
given to each shareholder. .
2.3 . Special M~nl71: , Special meetings oftheshateholders may be called at anytime by the Boatd
of Directors, the President., or by any bolda or holders of at least 50% of all the votes entitled to be cast on any
issue proposed to be coosiderC(lat the proposed special meeting. Notice of any special meeting of shareholders
shall stale the purpose or purposes for which the meeting is called.
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2.4 Waiver of'Notice. A sbarebo1dcr may waive: any DOtice n:quired by the CoW:, the articles of
iocorporatioo, or these bylaws bcfurc or a&r the date and time of the required notice. The waivec must be in
writipg. sigoed by the shareholder entitled to notice. and delivered to the ColpOI3tion for inclusion in the
minutes or filing with the corporate records. No such waiver of notice of il sbaxeholden;' meeting with respect
to aD am.eufment of the articles of incorporation pursuant to O.C.G.A ~ 14-2-1003, il plan of merger or share
eltCbaoge pursuant to O.C_G.A.fl4-2-1103. asaleQfassetp~uant to O.C.G.A. ~14-2-1202. or any other
a.cti.on which wculd entit1cthe shareholder to dissent pursuant to O. C.G.A. 0 1 +2-1302 sball be effective unless
the provisions ofparagrapbs (1) or (2) of subsection (c) ofO.C.G.A fl4-2-706 are followed. Attendance at
a meeting waives objection (1) to notice or defective notice of a meeting un1ess ~ shareholder at the beginning
of the meeting objects to hoIdiJJg the meeting or transacting business at the meeting; and (2) to consideration
of a particular matter at the mcdiDg that is not witbin the purpooe or purposes described in the meeting notice,
unless the shaJ:ebotder objects to considering the matter when it is preSented.
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2.5 Ouorum and Action of Shareholders. At all mcetiDgs of the shareholders. a majority of the
votes entitled to be cast OQ a matter- by a voting group shall constitute a quorum oftbat voting group for action
on that matter. unless the articles of incorporation, or a provision of these bylaws approved by sharehOlders.
or the Code provides otherwise. Once a share is represented for any purpose at a meeting. other than solcly
to object to holding the meeting or tranSacting buSiness at the meeting, it is deemed present for quorum
purposes for the remainder of the meeting and for any adjournment of that meeting unless a new record date
is or must be set for that adjourned meeting. If a quorum exists, action on a matter (other than the election of
directors) by a voting group is approved if the votes cast within the voting group favoring the action exceed
the votes cast opposing the action, unless the Code, the articles ofinr.oIpOration,or a provision of these bylaws
adopted by the shareholders under O.C_G_A. ~14-2-1021 requires a greater number of affirmative votes.
2.6 Adiournment of Meeting. The holders of a majority of the voting shares represented at a
meeting, may adjourn such meeting from time to timc.
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2.7 Action Without a..MeetiIJ9;. Any action required or permitted by the Code to be taken at a
shareholder's meeting may be taken without a meeting if all the shareholders entitled to vote on such action,
or the appropriate percentage of shareholders designated in the articles of incorporation, sign one or more
written consents describing the action taken and the consents are delivered 10 the Corporation for inclusion in
the minutes or filing with the corporate records. No such written consents shall be valid unless the provisions
ofO.C.G.A. U4.2.704(b) are followed.
ARTICLE THREE
Directors
3.1 Camorate Power and Authoritv. All corporate poWCIS shall be exercised by or under the
authority ot: and the business and affairs of the Corporation managed under the direction ot: the Board of
Directors. subject to any limitation set forth in the articles of incorporation, bylaws approved by the
sbareholdeJs, or lawfUl agreements among the shareholders.
3.2 Number and Tenn. The Board of Directors shall consist of one member. 'The tenn of the
initial director shall expirc at the first shareholders' meeting at which the director is elected. The tenn of the
director shall expire at the next annual shareholder's meeting following a director's ejection and until a qualified
successor shall be elected or until such directors death, resignation. incapacity to serve, or removal. The
director need not be a shareholder.
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3.3 Q)Jorum and Action. A majority of the directors shall constitute a quorum fur the tpn~tY1
ofbusincss unless the Code, the articles of incorporation. or a provision of these bylaws authorizes a greater
number. If a quorum is present when a vote is taken, the aflirmative "ote of a majority oftbe directors present
at a meeting is me act oftbe Board, unless the articles ifincorpomtion or a provision of these bylaws requires
the vote of a grearer number of directors.
3.4 Vacancies. Unless the articles of incorporation or a provision of these bylaws approved by
the shareholders provides od1erwise. if a vacancy occurs on the Board of Directors, including a vacancy
resultiog from an increase in the number of directors, the shareholders or the Board ofDi.rectors may fill the
vacancy, wbicbcvcr group shall act first. tithe directors remaining in office do not constitute a quonun of the
Board. the directors may fill the vacancy by the affirmative vote of a majority of all the directors remaining
in office.
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3.5 Notice. Waiver ofNotiec. The directors shall meet annually, without notice required of the
date, time, place or purpose of the meeting. at the same place as and following the annual meeting of me
shareholders. Special mcetiogs of the directors may be called at lID}' time by the President or by any two
directors, on a least twO days' notice, which notice shall specify the date, time, and place of the meeting. The
notice need notstatelhe purpose of the special meeting. A director may waive any notice required by the Code,
the articles ofiDcorporation, or these bylaws before or after the date and time of the required notice. The
waiver must be in writing, signed by the director enti~ed to the notice, and delivered to the Corporation for
inclusion in the minuteS or filing with the' co~rate records. A director's attendance at or participation in a
meeting waives any required notice unless the director at the beginning of the meeting (or promptly upon
arrival) objects to holding the meeting or transacting business at the meeting and does not thereafter vote for
or assent to action taken at the meeting,.
3.6 ; Action Without Meetin~. Unless the articles ofincOlpoJation or a prol'ision of these bylaws
provides otherWise. any action required or pennj.tted by the Code to be taken at a Board of Directors' nu:eting
may be taken; without a meeting, if the action '~ taken by all members of the Board. The action must be
evidenced by one or more written consents describirig the action taken. signed by each director. and delivered
to the Coqxnation for inclusion in the minutes or filing with the corporate records.
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3.7 R.emow1 by Shareholders. The sbarcho1ders may remove. one or more direcrors from office.,
with or without cause, by a majority of the votes entitled to be cast unless the articles of inc;;orporation or a
provision of these bylaws adopu:d by the sbareholders provides otherwise.
ARTICLE FOUR
. Officers '1
4.1 Officers. The officersofthc Corporation may consist of a President, a SecretlIy, and a
Treasurer. The officers shall be appointed by the directors or by any duly appointed officer who is designated
by the Board to appoint one or more officers or assistant officers.
4.2 President The President shall be the chief ~ecntive officer ofthc Corporation. and shall have
general and active management ofme operation of the Corporation. The President shall be respomible for the
administration of the COlporcuion. incl11ding general supervision of the policies of the Corporation, genezal and
active management of the financial affiUrs of the Corporation, and shalf execute bonds, mortgages, or other
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COPt1"8Cts UDder the seal of the Corporation. The President shall perform such other duties aDd have such odIer
powers as the Board of Directors may from time to time delegate.
4.3 Secretarv. The Secretary shall keep minutes ofall meetiDgs oi1he shareholders and directors
and have charge of the minutes books, stock books. and seal of the Corporation, shall autha1ticarc all
dOCWllCDts. 3.$ needed, and shall JXrlonn such other duties and have such other powers as the President or the
Board of Directors may from time to time delegate.
4.4 Treasurer. The Treasurer shall be charged with the management of the financial affairs of1he
Corporation and shall have the power to recommend to the President action concerning the Corporation's
afl"am.
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4.5 Assistant Officers. Assistants to the Secretary and Treasurer Or other officers may be
appoinred by the President or other duly designa1edofficer. and shall have such duties as the President or other
duly desiguared officer or the Board ofDired.ors sbalJ delegate.
4.6 Vice Presidents. The CorpOratiOD may have one or more Vice Presidents. appointed by the
Board of Directors. or other duly designated officer, who shalJ perform such duties as the President or the
Board ofDircctors may delegate.
4.7 Disallowed Payments. Any payments made to an officer of the Corporation such as
commissioo. bonus., interest. rent" or entertaimn~ expense incurred by such officer. which sbaI1 be disallowed
in whole or in part as a deductible expense by the Internal Revenue SeMce, shall be reimbursed by such officer
to the Corporation to the full extent of such disallowance. It shall be the duty of the directors, as a Board, to
ellforce payment by the officer of each suCh amount disallowed. In lieu of payment by the officer, subject to
thedetennination oftbe directors. proportionate amounts may be withheld from future compensation paymeuts
until the amount owed to the Corporation has been. recovered.
4.8 Removal The Board of Directors may remove any officel" at any time, with or without cause.
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ARTICLE FIVE
Seal
The seal oftbe Corporation shall be in such fonn as the Board of Directors may from time to time
dererm.ine. In the event it is inconvenient to use such a seal at any time, the signature of the Cotporation
followed by the work "Seal" enclosed in parentheses or scroll, shall be deemed the seal oftbe Corporation. The
seal shall be in the custody of the Secrcwy and ~lXed by the Secretary or by the Secierary's assistants on the
certificates ofstock and other appropriate papers.
ARTICLE SIX
Amendments
(a) Unless the articles of incorporation or the Code provides otherwise, or the shareholders in
amending or repealing a particular bylaw provide expressly that the Board of Directors may not amend or
" . repeal that bylaw, the Board of Directors may amend the bylaws if the voting requirements provided in Section
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3.3 of1hese bylaws are satisfied, except as provided below, The shareholders also may amend or repea11he
.'._ Corporation's bylaws or adopt new bylaws if the voting requirements in Section 2.5 ofthe.se bylaws are
~dierl. Unless the art.icles ofiDcorporatiou or a provision ofthcse bylaws provides 0Iberwise, a bylawtbat
fixes a greater quonun or voting requirement for the Board ofDirectots may be adopted, amemIed. or repealed
by the sharebolden only by the affinnativc vote of a majority of the votes c:otitled to be case or only by a
majority of the cotire Board ofDircctor3. A bylaw adopted or ameMed by the shareholders that fixes a greater
quorwn orvotiug requirement for the Board ofDirec:tors may provide that. it may be amended or repealed only
by a specified vote of either the shareholders or the Board of Directors.
(b) Any provision of these bylaws limiting the authority of the Board of Directors, establishing
staggered terms for di~tors. or fixing'a greater quorum or voting requirement for slwd101ders (C'l:c:ept as
provided in O.C.G.A. U 14-2-1113 or 14-2.1133 shall be adopted, ameuded, or repealed only by the
I ;. sharebolders. The shareholders may proVide by resolution that any bylaw provision repealed or amended by
them may not be repealed Or aro.eoded by the Board of Directors.
I hereby certify that the foregoing is a true and
TOWN, INC., duly adopted by the Boa:~fofDin:ctors
1998.
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RESOLUTIONS
OF THE SOLE DIRECTOR OF
WHITE OAK OLDE TOWN, INC.
The undersigned, being the sole Director of White Oak Olde Town, Inc., a Georgia
corporation, hereby agrees as follows and adopts the following resolutions:
WHEREAS, White Oak aIde Town, Inc. is a Georgia corporation (the "Managing
General Partner") which serves as the managing general partner ofOlde Town Associates, L.P., a
Georgia limited partnership (the "Partnership"); and
WHEREAS, TCG Developers of Georgia, Inc., is a Georgia corporation ("TCG"), which
serves as a ~eneral partner ofthe Partnership; and
WHEREAS, the Partnership is the owner of a 116-unit low income scattered site
affordable housing development known .as Olde Town Apartments located in Augusta, Georgia
(the "Project"); and
WHEREAS, the sole director of the Managing General Partner believes it is in the best
interests ofthe Managing General Partner and the Partnership to undertake certain actions
relating to the acquisition, ownership, rehabilitation, development and operation of the
Partnership and the Project; and
NOW THEREFORE, BE IT RESOLVED, that in its capacity as the managing general
partner of the Partnership, the Managing General Partner is hereby authorized, on its behalf and
on behalf of the Partnership, to obtain, execute and deliver any and all documents in connection
with various loans (hereinafter referred to as the "Loans") and other finallcing described below in
connection with the ownership, rehabilitation, development and operation of the Project, in such
amounts and on such terms as the Managing General Partner of the Partnership shall determine
in its sole discretion, including without limitation: (i) that certain HOME loan from the Georgia
Department of Community Affairs ("DCA Loan") in the original principal amount of
approximately $1,730,000.00; (ii) that certain HOME loan from the City of Augusta, Georgia
("City Loan") in the original principal amount of approximately $1,137,000.00; and (iii) that
certain equity loan from SunTrust Bank, Atlanta (the "SunTrust Loan") in the original principal
amount of approximately $3,410,000.00.
FURTHER RESOLVED, that in its capacity as the managing general partner of the
Partnership, the Managing General Partner on behalf of the Managing General Partner and the
Partnership, is hereby authorized to enter into, execute and deliver any and all agreements
relating to the rehabilitation, development and operation of the Project, including, but not limited
to, any and all development agreements, management agreements, construction contracts and
architect agreements.
F:\I)ocumcnts\CAR\\Vhitc Oak\Olde Town\resoJ.gp.whitc oak.loan.doc
FURTHER RESOL YED, that the Managing General Partner is hereby authorized to
execute, in the name and on behalf of the Managing General Partner and the Partnership, and to
deliver any and all promissory notes, mortgages, deeds of trust, deeds to secure debt, security
agreements, indentures, bond purchase agreements, assignment of collateral, loan agreements,
surety agreements, guaranties, indemnities, financing statements, operating agreements,
development agreements, management agreements, oversight management agreements, letters of
credit, credit facility agreements, reimbursement agreements, partnership agreements,
resolutions, any and all amendments thereto, and any other instruments of any kind or nature
whatsoever, and to take from time to time any other actions deemed necessary or desirable by the
Managing General Partner to carry out the intent of the foregoing resolutions, and to execute
documents and secure the Loans upon the terms and conditions which such Managing General
Partner shall in its discretion deem appropriate.
FURTHER RESOL YED, that any and all other actions heretofore taken by any officers,
directors or other representatives ofthe Managing General.Partner to execute and deliver any of
the instruments authorized by the foregoing resolutions, or to take any actions which such
officers, directors or other representatives deemed appropriate in order to carry out the
transactions authorized in the foregoing resolutions, are hereby approved, ratified an confirmed
in all respects.
[Signatures on Following Page]
F:\DoctlmcnL~\CAR\\Vhite Oak\Olde TOII1l\resol.gp.white oak.loan,doc
. .
IN WITNESS WHEREOF, the sole director of the Managing General Partner has
adopted these resolutions as ofthe~y of ])e-L, ,1998. .' .
.~
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Secretary of State
Corporations Division
Suite 315, West Tower
2 Martin Luther King Jr. Dr.
Atlanta, Georgia 30334-1530
DOCKET NUMBER
CONTROL NUMBER
DATE INC/AUTH/FILED:
JURISDICTION
PRINT DATE
FORM NUMBER
983160654
9713504
04/17/1997
GEORGIA
11/12/1998
211
THE DRUMMOND LAW GROUP, P.C.
CAROLYN FARRIS
1360 PEACHTREE ST., STE. 1000
ATLANTA, GA 303093214
CERTIFICATE OF EXISTENCE.
,,~~'~;i~~~~~~~;2~;;;'~~~~~~;'~;;~::I' ",
I, Lewis A. MasseY'ct'tl~'~'se'cr:eta\ry ofJStat~;;'df\":.t;he State of Georgia,
do hereby certify.~nd~~ th~~~~~110f'~y)dific~~that
,. ~. 'X} ~ .!;...... ?~~'";~:::'.... .. (') &"\ fl,' 'fl' "'\l'-~~ '\ .
'l7:",.,o.' /'" 'I,J """":''''--r;''-",:rr;, \.l"'r f:> ..~:--., 'ii-,.f ~ Ai ~ " ~ lo,
''''~ V .-:;;"'''' ,'" "''i r"."::"~ t;l -pi ,." !'A
.t ;!.... c (~ /}___ "\ '::l,]'~~ ~ :!~ f z!.1 .if-r;:~ ~ ><0 .{~ ~..~ ,
!!!i;~~ OLDE/i'l!QWN "'ASSOCI~TES;" CL.~:P .~ -$J\
of V /f", ""-~?' ,,,,,,,,,..,. ,,'" 0 "/f'J~' \.. i,~,
A~DOMES~~C LIMITED~PARTNERSHIpJ
r:f'1Ti-"'1:::.?trJ' . 'W ,,~' .~/! . \\$>' \\ .0 < ::.~
f,t~ ~ ~=~~=:~~~~==~ {) f.~
was formed in;~tihe j\.frisd'i,gei-j}6li-sfat-~~cr;:~ff6v~ or~~'Ets'; \,;\authori zed to
. lAJJ' . ~.~,~. rl'l '\..... (f{;;;j" .i 21"\ \i.~"'i -.:: . n .'~ . . .
transact bus~n~f?;!1:i)'~n GeorglCj. on.-:-the~abo:ve...J.aate."d tiScf1.q.j ent~ ty ~s' ~n
9#,~''j v ""-""'> j""Ji!~''''J~''~T..r."'t,r,,;~-o'''' 'l":l' ~:""~
comp~i~nce w}W~ tge (::p'p~icab'J:~'~'~f~~~r~{~~~,;, ~~~~lJ registration
prov~s~ons Of~,J,.T;~..t" '}~9,.149,.T~=.~the Oft~.c]la!J;I:..i cod" elc~~0f ~ g~0r,g.J.a Annotated
~fH iCl J, / ~^""of'io .I ~ I ljt~..., '\'~Ip'.. ...., .:1:<' , f"'1
and has not:O\,f'ilea:''C'~r,~'~cles !O:f\~~i:s~s.9.:~F~c5fi, -9~'rtificate of
'cancellationd~:, a, nY';;bt.''h'~"r[7' simil;~~j,do.c~Um.'k'-n....t "'w.V:.ililh .t. h,J"e"'loffice of the
V'~ /:49."" J,C..II ~ / ~fF"'l\u t,.~ i/r~
Secretary of St\a't~. .. ~oJ.hJ.,,'. J.;!l \f11b~toor< /1;.',;7 .
. ..J,:-=:>"~"'=-""""'~"'"-~=~'''''''''''''=-~''''''' .Ill-
This certificate ~~'1aE1f~~:'~W~~:'~~cii~~is,t~tce of the above-
named entity a's of~t.lie, date I~Gt{e"'d~~~ Oit does,4~tV certify whether
-;,J i''fI~ N "~~~I t-ii"""'. r,J '-:-'," . .... t_' ~
or not a notice 6fJ:::'i~n.teIlt dto I dT.ssoJ;;v;~7 an application for
,'. , ~~ '.., .J~"<".."'"
wi thdrawal, a statement Of~,,,:,c0mmenq,emerit:;;~6-f" winding up or any other
similar document has been fil~~'~'6\-\"}i"p~nding with the Secretary
.of State.
This certificate is issued pursuant to Title 14 of the Official
Code of Georgia Annotated and is prima-facie evidence that said
entity is in existence or is orized to transact business in
this state.
~4,~~
Lewis A. Massey
Secretary of State
&~h;bH-l)
~
CERTIFICATE OF CORPORATE GENERAL PARTNER
ON BEHALF OF PARTNERSHIP
I hereby certify that I am the duly elected and acting Vice
President of White Oak aIde Town, Inc., a corporation organized
and existing under the laws of the State of Georgia (the'
"General Partner"), which is the managing general partner of
Olde Town Associates, L. P., a Georgia Limited Partnership (the
"Partnership"), and in connection with the Partnership's request
for financing from the Augusta, Georgia (the "Lender") for
acquisition of affordable housing, I further certify that:
1. The General Partner is the managing general partner of
the Partnership with full power and authority to act on behalf
of and bind the Partnership.
2. The attached Exhibit A is a true and complete copy of
the certificate of limited partnership of the Partnership and
all amendments to it (if any) as filed with the Georgia
Secretary of State.
3. The attached Exhibit B is a
the limited partnership agreement of
amendments to it (if any) .
true and complete copy of
the Partnership and all
4. Except for any amendments attached to Exhibits A and
B, neither has been amended, terminated, or canceled and both
remain in full force and effect as of the date of this
Certificate.
5. The attached Exhibit C'is a true and complete copy of
the Consent of Partners Authorizing a Secured Loan. It has not
been amended, rescinded, or modified; remains in effect; and
does not violate or conflict with either the certificate of
limited partnership or limited partnership agreement. of the
Partnership.
6. The attached Exhibit D is a true and complete copy of
a certificate of existence of the Partnership issued by the
Secretary of State of the State of Georgia within the preceding
6 months. Neither the General Partner nor the Partnership has
taken any action that would cause the Partnership not to be in
good standing under the laws of the State of Georgia as of the
date of this Certificate.
sent By: The Drummond Law Group. P~C.;
404 898 1201;
Dee.28.9a 10:49AM;
Page 2/3
7, This Certificate is given for the benefit of the
Lender, and the. Lender is entitled to rely upon the
certifications in it in connection with extending credit to
the Partnership.
DM WXTHKBS NHBRBOP, the undersigned has executed this
Certificate December dJ.E.., 1998.
~-'~- 4... .,..," P,
ee Fowler ~- .:_ .
[SEAL] l~: '}. ~t ~J
I hereby certify that: (a) I am the duly e\&=ct~d, ?~-:-/
qualified, and acting President of the General partner,_':::::(.b)~--"
Renee Powler is the duly elected, quali . ed, and act-ing
Vice President of the General P ner, d (c) the above
signature of such Vice President s her 9 uine signature.
-."
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Secretary of State
Corporations Division
Suite 315, West Tower
2 Martin' Luther King Jr. Dr.
Atlanta, Georgia 30334-1530
DOCKET NUMBER
CONTROL NUMBER
DATE INC/AUTH/FILED:
JURISDICTION
PRINT DATE
FORM NUMBER
982640464
9713504
04/17/1997
GEORGIA
09/21/1998
215
THE DRUMMOND LAW GROUP, P.C.
CAROLYN FARRIS
1360 PEACHTREE ST., STE. 1000
ATLANTA, GA 303093214
_'$5';;3;;~~~?-~~:~;''\c:,.,
.,~<,-.,"'::';~:::CERTIFIED.'" c'oPY,\""
,?~:i:?r' '~~ 6~.'~ o;~';;4;t~!.~\::~
. ..f>' \ l ,"" /:>.-r.~_C'" ..; "'''1..,J' ~ ", " ,,] . \;"
I, Lewis A. Masse'y';'" the~,Secret'a:;LJy&of1State,:"ofthe:\State of Georgia,
do. hereby certi'f:y:';"(~fide:f tr{€~~t:r~f~"'~y'~~:afii:'ce'l"tb~\~Athe attached
r'~J~'-- ;''''- ~(_~-- ~~~y .\~;r:1 't\, - '~1 .~~{"
documents are~~ ana cbr~ect copies 'bf/tlocumentsJffiled under the
r~;,: ~ ~:"~"...Jl__~"'~___.J~;lq,..::/OI~~_-.Ji.--.. --~ t~:iP"~"'\'\f~
name of ~ c~ ~,\.:~o,o.;mr,..,.,==-.~:::_ ?'I'~ .~ l",~t .J ~tll1
. ~"'r"\:,':''J''''''~-''ff'14''N~-'-'''''''''''''''''''lfSi'<r-'\.g .~'" 'l~ 1
!",); '''''''.$::;1/' !.~ M~"".;c /<; ". ~~"".... .r) ','}'.
...Ih ";..........r.' ( toI "~ f?'~ ~....~ .. - . II ..\
. '.' 'i ~. .:.!./ i . ''1 i" ~~""""ilh<1'~
~r'" (i.i1""=~ c OLDE""TOWN;;{A:SSOCIATES", L. p,.;,-",e.", i'.;L;
lI" 11J (,.\, ,,~ f-}!.'~ ~ ./ .....,..z::!.:JJ ~ 11 v~;,' \.~~';i~~~1 ......~ ,":' ;".r- ~:
~'l ~ A(DOMESTIC 'DIMITE~ PARTNERSHIP :~7.{
1(1 'l,,' --'~-.J___r '\ ~! i l~ U '\ ,....~ J 0 J)o(jp 5~'>~
t)\, IJ 0 . '. ~ i~ I ~ .!!k-;)." ~.(...-- ~ p;lii Jji~A
''l~A' ' "'''-..-' 'f1!'1}:j i ',u'-,.?" ,"
i ~\ ~"", - '. fi.., ~
I~~ 9~ '~L$:"~ " l~J u~ ---h ~ ;
Said entity wa's~'\\formed i:rr:~the jurJ:sdi'ctJ:on se~t for,-:-.:; above and has
-,~ ~...... nIl" ~IH "tel ~ti~ ........ ;~
filed in the ~~ffic~~~ll~ecre~~~y ~f ~~2,se on ~n1 date set forth
. '{f r~ . ~~~?-EICl"-$.'L't;'-~'.~;..r".,...-:~~~~~~~~~ 7~.~...., .
above J:ts cer\t.~,J:~9.-t:~;;..~A=.k~lD!h.t_~g,~~y...~~t;ge~~~.J:p, artJ:cles of
incorporation, a~t~~les 6f'cap~~~~?t4ott, art~s~~ of organization
or application for~ertificate{qf~authority~~t~E transact business
'r.:.\..:~~ ~iJ .,- .;' r.4{ ~ . .,,,;~(,"~~'='"-
in Georgia. ""-,'1i."" -~,~~..f.!.. B L.~ <>-'....-:~' ;./'
""", ',~~ -;:::<t"''''--''''''
""- ~ ;' ._-~~ ...,#
~. "'Ii! ):~~~~TtJ
This certificate is issued pursuant to Title 14 of the Official
Code of Georgia Annotated and is prima-facie evidence of the
existence or nonexistence' of the facts stated herein.
~4r~~
Lewis A. Massey
Secretary of State
Exh;bi+ A
~ccl.clnr~l of ~lalc
lC lll' P II ntl illllS Dil1isillll
~ltilr :'11:1. Wrsl C!:lllltr1'
,-I iHnl'lin 1.Culhrl' 1!.~in~1 .iJl'. D1'.
..:\ 11 a 11 1 ~t. (1') (' lll' lJ i ~t :-a 1 :.: :.: I I. - 1 :1 :.: L1
~
CONTROL NUMBER
EFFECTIVE DATE
COUNTY
REFERENCE
PRINT DATE
FORM NlnolBER
PARANE7 CORPORATION SERv~rES, INC.
DON;\A HYDE
.17 61 VEN'10RE DR I VE, S-:E 2 G 0
DUi....UTH, GA 30136
97:3504
04/17/1997
G;.,' I NNETT
009~
04,'17/1997
3:;7
and
CERTIFICATE OF LIMITED PARTNERSHIP FILING
" :.t::'....is A. ~:assey, the S~Ct.et.=H.y of State of the State of Geol'gia,
cL.) h~~:'eLIY c.~rtify under the seal of my office that the domestic
1 i:n:t.;.~ri pannel'ship
OLDE TOWN ASSOCIATES, L.P.
A DOMESTIC LIMITED PARTNERSHIP
!:,'t:; :!-!,j, ,I~, of :::l~ ~ff~cti'J~ dnte sta~.ed abo'Je, i::s C..~!.titicate
.::'~ :;:.r:t~'~d !'c:i!.t:ners:l:p .....ith tl1,: Secl..-:tal'Y of Sr.,lte .and has paid
..:: ~':'-::j d~j l..,q\li,:'~d c.v Ti::.lc 1.1 o[ th.~ Official Code of Go?orgl,l
l\:~::".:. L ~;l ': i:d .
w r 'j'NESS my hCl nd cl r;o
St.,.lt~~ (:: C;f,.~c)i'gia on
&. r' .' 1
.:1.,1(,1..1.
t'h';: rj("l t~ ~
s(~"l 11\ ::h~ ,:i::.,/ of i\t.lanta
r.~~L forth abov~C'.
~..hc
~~.~~
t.~'''';!l ". M.l!!!!'!;'
!i""rr'.~ .'I"i' ()f ~a.tll"
"
ATTACHMENT TO TRANSMITTAL INFORMA nON FORM
FOR
OLOE TOWN ASSCCIATES, L.P.
Sectlon 5: Genftral Partners
1) WHITE OAK REAL ESTATE DEVELOPMENT CORP.I. Frorida corporation
222 Clematis Street. Suite 207
Weat Palm Baach, Florida 33401
2) THE RICHMAN GROUP OF GEORGrA, IHC" e Georgia corporation
222 Crematis StrMt, Suite 207
WeatPalm Be.chl Florida 33401
i::...
"
CERTIFICATE OF LIMITED PARTNERSHIP
OF
ClDE TOWN ASSOClA TES, LP.
I.
The name of the limited partnership is OLOE TOWN ASSOCIATES, L.P.
II.
The street address of the registered offICe of the nmlted partnership is:
3761 Venture Drive, Suite 260
Duluth, Georgi. 30136 (Gwinnett County),
and the registered agent at such address is:
Paranat Corporation ServIces, Inc.
III.
The name and address of each general partner is:
WHITE OAK REAL ESTATE DEVELOPMENT CORP.. a Florida corporation
222 Clematis Street. Suite 207
West Palm a.ach, florida 33401
THE RICHMAN GROUP OF GEORGIA, INC., a GeorgIa corporation
222 Clomatis Street, Suite 207
Weat Palm Beach, Florida J34D1
N.
The mailing addreu for the limited Partne~hip and the location of its
principal place of business is 8S follows:
22h Clematis Street, SuIte 207
West Palm aeach, Florida 33401
v.
The latest date upon which the Limited Partnership is to dissolve is
DECEMBER 31, 2047.
IN \tVJTNESS WHEREOF, the General Partners have executed this Certificate of
limited Partnership this 16th day of April. 1997.
STATE DevELOPMENT
poratton
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P,\R....'ET -.nL\.\1'A
BUSINESS INFORM'" TION AND SERVICES
Suit. 315. Wect Tow.r
2 M.r1in lvthe' K~ ~ of Drive
AtWl~ G.orgiJ 30334- 1 530
(404) 656-2817
C[RTlfICATt O~ LI~ITEO ~AR~ERSHIP
TR~SAITTAl INf~T)ON F~
'OR 'EOReIA LI~IT[O PARTNIRSHIP
J. K. J.4.O<SON
Director
Secrltlry of StIt.
sw. of Geoq.i4
J .I
, NS11WCTI ~s ARl
UCI OF' 'fluS 'OM.
, . '\ '-'j I L. "7 ( . l. \..\ '\
L,.,t~ ~.~1ne~.~t~ ~.. a...rv.1Ion ~
OL DE TO\~~I ASSOC rATES, :..ll.
ll~I,OG '.~~.~.nlp 101.,.. (.x.c,ly .. ~,.. 0t1 ,.._ ,..-......',on)
~. Pa:Jla Ryan (561) 659-2050
,
Appl'~n'/AttQ~~ 207 T.t~ ~r
222 Cle~atis Street, Suite
.00,.... 33401
West Palm Beach, Florida
e'1y lUte 21, C~
:). 222 Clerr.atis Street, Suite 207
I'r'l"'C,pel Of"c:. -"I'''g ACldr... Of Ll~lt04 ,.,.t"./"&hfp
ies t Palm Beach, Florida 33401
~;ty $Ut. ZIp COCMl
P~rdnet Corooration Servi ces, Inc.
4. ~. ct Q8Qt.t.~~ 6g_nt In ~l"Qt.
3761 Venture Drive, Suite 260
R.Q'~t.r.a or, 'e. It~t AdOr... tn ~OQr.14
Duluth Gwinnett ~A 3'0136
S:ty e~ty ~t.t. :z,. Cooe
II. .ttDen ". t 0' 1oAi.... .nd .....1...... oIl.-c:lr-o..ea Of _o:M ..".~. I './"t....,. . -,
SEE AiTACHEO HE~ETO -
o. ~o~ LI"'t~ "."'~"."IO' 'o~ p~for- h .,Iu'r ' . It" QI'(\.":
o.t. 'OI"1't.d: COU'lty: looll. NO. ".~ No,
7. NCTIct : nul ,o.uc OCI II JICT IiUI Jtt..ACl nit Clln'lP'ICATr CPO I.I_nm ~AAna~I' alQU1ltm ,., TITL.I U D1
mr Ol'PICUI. ceoe 0' CIIOIIGU ANClTATlD. ".' 1 or- c.l,.,.,. t",. T~.P'I." t Ita 1 I"'....., Ion ,..... tP\e
o"\g\~' Ind on. COpy cf t~. C.,.,1'Icat. of LIMlt'd P'''t".,..~,P, .~C thO S.c,..tl~Y of St.t. '\I'no
'.' 0' "0.00 to t~ Sec,..,.ry .f St.t. at the 800ve .~~....
I unC:.".Ul'\d 'I'I4at tl'le f"'a~tlcn OP'l t~:. '0". wt 11 be .m4"~ '" ,~ Sec,..,.~y of St.,. tNtl1ne..
"'g1.,rl,lon cat.Oa.., aP'ld I ~""Y 'NIt tna .00\'9 1""Or-ltltlc,., , , ,~u. 4/"ld co""ec, to t~ De., Of
Ily ICP'lowl..qe.
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. ---' flu rI /""i t ~ ' i- --
j~'''O''IJ.cr I'QnI,y,..: o.t.!
"'of ...."
PAULA RYAN
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Secretary of State
Corporations Division
Suite 315, West Tower
2 Martin Luther King Jr. Dr.
Atlanta, Georgia 30334-1530
DOCKET NUMBER :
CONTROL NUMBER:
EFFECTIVE DATE:
REFERENCE
PRINT DATE
FORM NUMBER
982640925
9713504
09/21/1998
0077
09/21/1998
146
"".~
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THE DRUMMOND LAW GROUP, P.C.
CAROLYN FARRIS
1360 PEACHTREE ST., STE. 1000
ATLANTA, GA 303093214
C~.~
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~~;.:~::,"" '~~~;;_o "0 /~~;\
i.~7~j'" \j^?CERTIFI'CATfl6F~AMENr)l~ENT.:~~ J\
r-' ../f~"'-:t..1'--(.".' --;:;..- ~i!:~;,..l ~"F;;":",~:-~-;;'::::,,_ ~ 1"" ~~ <".;. . -=-; "'/ ,'~r...
';""'1', :t ~ '......'''"' A.... ,';' i~<'.~, ".,:-..,. .."", ';;.f)'<,'~ (; \'t~..
~.;fl' Y ...'" }/~_(.r' ~"47.{J, Cl.. \~.}
l~ll .....J> t;t ~':~}:;/ '~,~;V\ () \~
f )/ ""","1'<:"''' >.) :':" 1/ . " , ,\~( \\, 0 ,"'J;i"
I, Lewis A. Mi~s~~:';the~~r<it~~~X'i,i3~:~;~~~~~rOfCJ~i ,4 ~;,:a.te of Georgia,
do hereby cereify under \tti~q~s~al{t.9f t,nY).<p:t.:fice that tth, e certificate
'~'iH ..' .' ... -...... 't.,' i ...... . ~'- 'f '" . _<I ~',,,,-;\
of limi ted pa.:r;the~shipd''?t('''~i~,.Ji!''~;j''~~:l "A"'"'g,.,~ ';; 111:"""''1 ~~~
'~ ~_ ~ 'l.. ~t 'I" ~.;,~ 'n.;;J:f ........,.::"'...,",l.'I, t "-1...r~"""" _ _ j ~ I~
1 ';'\ (t.r.~~1f~.'-'"0f.,. --.~i[.-.~..,y"'-' ,~ ~' ~l C ,:.:........ rt,,1
""...., '.I;~.f''i f.f\ ~ \ i ..:; g .lr.~ b.,...'
flt"~, :::, ;?:~~ } ~ I R ' ."'.. q. .~i,'tJ.'> }'.!
.='1 )":;:;1;;:"",-1,,,>,.,), _./ f j ~.,., 111f~.,-.-7" .
c-~)J OLPE; TOWN lA~S09,IAfES.i;'~LtP.
'v _~ j{j" bb~pTIC ~~,"~IT~J ii:~T~tiSHI~a
"'V......\ 0 ~l h 'I H d 1 h ~\' "" .''''7
'\ '\ """ i~" ~ ~""" , \; ~ ~ '",,",' ~ c '" (if",,/?
't~~~\ jrii~~!==;:~~~~~~~ ,;{?;I
has been amended'\by, the f:i-1A.ng of- a ccertificcite of amendment in
'" x-.. ,., '\,1 0../ I) Q t,; -', ./->:- .,'
the . office of. the -'S'~,~~~.:ary ~of~~S~'~~~:~and~2x~;tne payi~g of fees as
requJ.red by TJ.t1e 14 qjtt~~:_?ffJ.9:.~~~,~~Y".'Of GeorgJ.a Annotated.
Attached hereto is a true-~and~correc~~copy of said certificate of
r__~...1'I~,.~~'\.""_" .
amendment.
WITNESS my hand and official seal in the City of Atlanta and the
State of Georgia on the date set forth above.
\.
~q,~~
Lewis A. Massey
Secretary of State
'I~:{;.
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APR,21.1997 10:4SAM BWR
q1 J Ii 0 13 ~
NO. 267 P.2/3
,....
AMENDMENT TO CERTIFICATE OF LIMITED PARTNERSHIP
OF
OLOE TOWN ASSOC!ATES, L.P.
Pursuant to the provisions of Title 14, Chapter 9, Section 202, of the Official Code
of Georgia Annotated,' the undersigned hereby adopt the fOllowing Amendment to the
Certificate of Limited Partnership ("CPrtificate") originally filed with the Georgia Secr~tary
of State's Officl3 on April 17, 1997:
1. The name of the limited partnership is OLDE TOWN ASSOCIATES, L.P.
.'
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2. The original Certificate of Limited Partnership was filed with the Georgia
Secretary of State's Office on April 17, 1997.
3. The following new paragraph is hereby added to the Certificate of Limited
Partnership:
VI.
The profits, losses, ownership and distributions of the Genera! Partners of the
Partnership shall be allocated as follows:
General Partners:
White Oak Real Estate
Development Corp.
51%
The Richman Group of
Georgia, Inc.
49.%
In all other respects, the Certificate is hereby ratified. confirmed and approved.
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:f{~:?:'~;'."'::': :-,....., ',' WHE~EAS, the original Certificate of lim.ited Partnership of .Olde Town .... . . .:~',<r
:':~~;.:';.::'::..";:',::., ,: ASSOCIates, L.P. (the "partnershIp"), dated Apnl16, 1997 was filed with the office .
'tf.~~'''''~:>:;:-;,>'' ',':.ofthe Georgia Secretary of State on April 17, 1997; and.
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WHEREAS, an Amendment to Certificate of Limited Partnership of aide Town
Associates, L.P., dated April 21, 1997 was filed with the office of the Georgia
Secretary of State on.April 21, 1997 and was subsequently amended by Second
Amendment to Certificate (said Certificate, as amended is hereinafter referred to
as the "Certificate"); and
WHEREAS, the parties h~'reto desire to further amend the Certificate, as follows:
1. Paragraph III of the Certificate is amended by deleting the following general
part'1er, from the Partner~hip:
"The Richman Group of Georgia, Inc., a Georgia corporation
222 Clematis Street, Suite 207
West Palm Beach, Florida 33401."
The sol~ general partner of the Partnership is White Oak Real Estate
Development Corp., a Florida corporation (hereinafter referred to as the
-Remaining General Partner").
2. Paragraph IV of the' Certificate is amended by deleting the mailing address
and principal office of the Limited Partnership and inserting the following in
lieu thereof:
"222 Clematis Street, Suite 206
. West Palm Beach, Florida 33401."
. 3. . Paragraph VI of th~ Certificate is hereby deleted in its entirety and the
following is inserted in lieu thereof:
'. "VI. . .' The initial limited partner of the Partnership is Paula J. Ryan,
individual, having a notice address of 222 Clematis Street, Suite 206, West
Palm Beach, Florida 33401". '
~, Except as amended hereby the Certificate shall remain in full force and effect.
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Secretary of State
Corporations Division
Suite 315, West Tower
2 Martin Luther King Jr. Dr.
Atlanta, Georgia 30334-1530
DOCKET NUMBER :
CONTROL NUMBER;
EFFECTIVE PATE:
REFERENCE
PRIN'I' DATE
FORM NUMBER
~8264092S
9713504
09/2l/1~~B
0077
09/21/1.998
146
THE DRUMMOND LAW GROUP, P. C .
CAROLYN FARRIS
1360 PEACHTREE ST., STE. 1000
ATLANTA, GA 303093214
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Lewis A. MJ~'J~'~'~;;:~he;;';~.~;di~.ta:fr5:;:t:::S:t~.~.i~.~::;Of ;::::th.~":':Sf.a t e of Georgia I
hereby cezi;dfY l#lder ~:::~~~~::-:$~ai"\p-:f--~1i~-::-2i:~,*'ice 'that ,".t1:le certificate
limited p~~~er~i~<~~:;:::)"'.'?::'~:'~.L~':;./:':;'~'~:~>:: ::, /"<:';'<>:
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has been amendedi'.'~};:..,"th;" "~'fii;i;;~:-;'i.:'~';~d~~ti'f'ic,:it:~' of amendment in
the office of the "'S~G;r;-.etary ';pf,:;'$t'a"t:~.:,and by<~fJle paying of fees as
required by Title l4".:c>:f;<:!.t.!1e: Qffi,Ciai~~coa~:;o'f Georgia Annotated.
A.ttached hereto is a t~lfe'.~:~~i~fif;icoi'r~Et.;~~~6py of said certificate of
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amendment.
WITNESS my hand and official seal in che City of Atlanta and che
State of Georgia onOthe date set forth above.
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Lewis A. Massey
Secre~ary of State
dno~~ M\ti aNowwn~a 3H~'WO~~ 8S'St SS-t~-d3S
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TIDRD AMENDMENT TO CERTIFICATE OF
LIMITED P ARTNERSlllP
This amends and restates in its entirety the Certificate of Limited Partnership
of
Olde Town Associates, L.P.
WHEREAS, the original Certificate of Limited Partnership of aIde Town Associates, L.P. . (the
"Partnership") dated April 16, 1997, was filed with the office of the Georgia Secretary of State on April
17, 1997; and
WHEREAS, an Amendment to Certificate of Limited Partnership of the Partnership dated April
21, 1997 was filed with the office of the Georgia Secretary of State on April 21, 1997, and was
subsequently amended by Second Amendment to Certificate of Limited Partnership dated September 3,
1998 and filed with the office of the Georgia Secretary of State on September 4, 1998 (said Certificate as
amended is hereinafter referred to as the "Certificate"); and
WHEREAS, the parties hereto desire to amend and restate the Certificate in its entirety to reflect
the substitution of general partners and other purposes.
NOW THEREFORE, in consideration of the foregoing, the parties agree as follows:
('
The undersigned desire to continue the existing limited partnership pursuant to the Revised uniform
Limited Partnership Act of the State of Georgia, and do hereby certify as follows:
1. The name of the partnership is aIde Town Associates, L.P.
2. The registered agent of the partnership is Paranet Corporation services, Inc. the address
of the registered agent is 3761 Venture Drive, Suite 260, Duluth, Georgia 30136 (Gwinnett C.ounty).
3. The names and business address of all of the general partners are as follows:
White Oak: Olde Town, Inc., a Georgia corporation
222 Clematis Street, Suite 206
West Palm Beach, Florida 33401
TCG Developers of Georgia, Inc., a Georgia corporation
c/o The Carlisle Group .
2937 Southwest 27th Avenue, Suite 303
Coconut Grove, Florida 33133
4. The latest date upon which the partnership is to dissolve is December 31,2047.
5. This Certificate shall be effective immediately.
6. This Certificate is being executed by White Oak: Real Estate Development Corp. to
evidence its withdrawal from the partnership, and by White Oak: aIde Town, Inc. and TCG Developers
of Georgia, Inc., to evidence their agreement to serve as general partners of the partnership.
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IN WITNESS WHEREOF, the withdrawing and incoming General Partners have caused this
. . instrwnent to be executed by and through their duly authorized officers as of September 11-. 1998.
WITHDRAWING GENERAL PARTNER:
INCOMING GENERAL PARTNERS;
(CORPORATE SEAL)
By:
TCG DEVELOPERS OF GEORGIA, INC., .
a Georgia corporation
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By:
As its:
(CORPORATE SEAL)"
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. IN WITNESS WHEREOF, the withdrawing and Incoming Gtneral PartnerS have caused chis
Instrument to be executed by IIId Chroueh ~ej(' duly authodud officers as of September iL. 1998,
WITHDRA WlNG GE~RAL PARIN&R:
(CORPORATE SEAL)
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INCOMJNG GENERAL r^RTN~RS.i.
By:
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FIRST AlVIENDMENT TO THE
FIRST A1VIENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP
OF OLDE TOWN ASSOCIATES, L.P.'
THIS FIRST AlvlENDlVIENT TO THE FIRST AlVIENDED Al~D REST A TED
AGREEMENT OF LIMITED PARTNERSHIP OF OLDE TO\VN ASSOCIATES, L.P.
(this "Amendment") is made and entered into and has been executed as of December ~, 1998,
by and among \VHITE OAK OLDE TO\VN, INC., a Georgia corporation, and TCG
DEVELOPERS OF GEORGIA, INC., a Georgia corporation, as General Partner~
(collectively, the "General Partners") and SUNTRUST BANK, ATLAl~TA, a Georgia banking
institution (the "Bank"), as Limited Partner.
W I I N E.s..s. E I H:
WHEREAS, Olde Town Associates, L.P., a Georgia limited partnership (the
"Partnership") was formed as a limited partnership under the l~l.\vS of the State of Georgia
pursuant to that certain (i) Certificate of Limited Partnershjp, dated April 17, 1997, and fi~ed with
the Secretary of State of Georgia and (ii) Agreement of Limited Partnership dated as of
September 23, 1998 (such certificate and agreement being hereinafter referred to as the "Original
Partnership Agreement"; and
WHEREAS, the Original Partnership Agreement was amended and x:estated by that
certain First Amended and Restated Agreement of Limited Partnership dated as of September 28,
1998 (the "First Amended and Restated Partnership Agreement"); and'
WHEREAS, the parties hereto wish to amend the First Amended and Restated
'. Partnership Agreement as more particularly described herein.
NOW, THEREF9RE, for and in consideration of the sum of Ten Dollars in hand paid
and other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto do hereby agree as follows:
1. The address of the Partnership shall be amended in Sections 1.2 and 22.4 of the
First Amended and Restated Partnership Agreement by deleting the following address: "Suite
206, 222 Clematis Street, West Palm Beach, Florida 33401", and simultaneously substituting in
its place the following address: "322 Banyan Boulevard, yVest Palm Beach, Florida 33401':.
2. The term "Land" as defined in Section 2 on page 6 of the First Amended. and
Restated Partnership Agreement shall be amended by deleting the number "56" and
simultaneously substituting in its place the number "49". To avoid confusion, the term "Land"
shall mean approximately 49 parcels of the real property as more particularly descnbed in the
Subscription Agreement.
3. The term "Permanent Loans" as defined in Sectiori 2 on page' 9 of the First
Amended and Restated Partnership Agreement shall be amended by deleting in its entirety and
simultaneously substituting in its place the following:
Ipa.amend.doc
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:
"Permanent Loans" shall mean two loans, one from DCA and one from
Augusta, Georgia, and meeting the definition of qualified commercial
nonrecourse financing contained in Sections 49(a) and 465(b)(6) of the Code, and
for which no Partner or a Related Person bears the Economic Risk of Loss and the
cost of obtaining which does not exceed the amount budgeted by the Partnership.
The DCA loan shall be in an original principal amount of not less than
$1,730,000, shall bear interest at a per annum rate of not more than 1 % and shall
have a term and require periodic payments based on an amortization period of not
less than thirty (30) years. The Augusta, Georgia loan shall be in an original
principal amount of not less than $1,137,000, shall bear interest at a per annum
rate of interest, the yield of which shall not be less than the than the long-term
Applicable Federal Rate in effect on the date of any disburssement under the
Augusta, Georgia loan and shall have a term and require periodic payments based
on an amortization period of not less than thirty (30) years.
4. Section 9.4 shall be amended to add the following at the end of this Section:
"Notwithstanding any contrary provision in the Partnership Agreement or Development
Agreement, no more than $182,982.00 (including any amounts for consulting fees or developers'
overhead) may be paid to Developer as fees before the Conversion Date (as that term is defined
in the Acquisition/Permanent Loan Agreement dated December :21, 1998, by and between the
Partnership and DCA)."
5. The parties further agree that the First Amended and Restated Partnership
Agreement as hereinabove modified and amended shall have the same force and effect as if the
original thereof had contained the matters added, amended or modified by this Amendment, and
the same shall be so construed.
[SIGNATURES ON FOLLOWING PAGE].
(pa.amend.doc
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IN WITNESS WHEREOF, the parties hereto have execut~d this Amendment under seal
as of the day and year first above written.
GENERAL PARTNERS:
...............
TCG DEVELOPERS OF GEORGIA, INC., a
Georgia corporation
By:
Print Name:
Print Title:
LIMITED PARTNER:
SUNTRUST BANK, ATLANTA, a Georgia
banking institution
By:
Christine R. McGillis, First Vice
President
By:
C. Breck Kean, Vice President
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.... ,... ......
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IN WITNESS WHEREOF, the parties hereto have executed this Amendment under seal
as of the day and year first above wrinen.
G~NERAL rAR~J~.s:
WHITE OAK OLDE TOWN, INC., a
Georgia corporation
By:
Paula J. Ryan, President
J.1MITED P J\JlTNEll:
SUNTRUST BANK, ATLANTA, a Georgia
banking institution
By:
Chiistine R. McGillis, First Vice
President
By:
C. Breck Kean. V ice President
0447tJl901
12-21-98 19:48 Fram-UORRISUANNINGMARTIN
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\2-%\-81 13:44 FrDlt"'tlOU1SlMMIII~IfI"
4042330473
+4D4&1&375&
T-493 P.02/04 F-152
T-23S p.C41D4 f-aal
IN WlTN"ESS WHElt$OF. ~ parnes ~ have ~d 1bis ADlr'"Mlelll ~ ~
lIS of U1e 4ay m4 ycaf msl aboVe wrinen.
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Gi'NILIAL lA.JTl'lf.'RS:
WHITE OAK. 0UlE TO\\1N.INC., a
Georpia COtpOt1lnon
Hy:
~ J,.ltym. Presi4mt
TCQ D~~Ol'~ OF GEollGlA. INC.. ~
OecqiJa cotponlUan
By;
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SUNl"RUST 8A}\l~ A'nANTA a'Qcofgia
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By: .
Cbri~ 1L .s, First \ ic~
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c~~ze~ 1.<=1. Vice Prc:si ,t
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'OLDE TOWN ASSOCIATES, L.P.
FIRST AMENDED AND REST A TED
AGREEMENT OF LIMITED PARTNERSHIP
C-',
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as of
SEPTEMBER 28, 1998
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EXECUTION COPY
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TABLE OF CONTENTS
~
1. NAME, ORGANIZATION AND PLACE OF BUSINESS ........................................................1
2. DEFINITIONS....... .................................................................................................... ....... ..... ......2
3. PURPOSE AND RESERVES .................................................................................................. .12
4. TERM ............................,...........................................................................,.,.,...........................13
5. GENERAL PARTNERS ...................... ....................................................,.,..............................14
6. LIMITED PARTNERS .......................................................................................,.........,........,...15
7 . STATUS OF LIMITED PARTNERS AND UNITS................................................................. 17
8. PAR TNERSHIP CAPITAL .......................................................................................................17
9. COMPENSATION TO THE GENERAL PARTNERS AND THEIR
AFFILIATES ..... ......... ......... ...... ...... ............................. ....... ....... .......... ................... ....... ...17
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1 O. PARTNERSHIP EXPENSES......................................................... ............. ..... ............ ..... ......18
11. DISTRIBUTIONS, ALLOCATIONS OF INCOME AND LOSS AND
CAPITAL ACCOUNTS....... ............................................ ....... ........................... .......... .....20
12. ASSIGNMENT OF UNITS...................................................... ......... ........... ...... .............. .......28
13. SUBSTITUTE LIMITED PARTNERS..................................................... ...................... ........30
14. BOOKS, RECORDS, ACCOUNTING AND REPORTS .......................................................30
15. RIGHTS, AUTHORITY, POWERS, RESPONSIBILITIES, DUTIES, AND
SERVICES OF THE GENERAL P ARTNERS.................................................................32
16. RIGHTS AND POWERS OF THE LIMITED PARTNERS ..................................................39
17. WITHDRAWAL, REMOVAL, RETIREMENT, INSOLVENCY OR
DISSOLUTION OF A GENERAL PARTNER AND TRANSFER OF A
GENERAL PARTNER'S INTEREST. ................................................................ ............ ...42
18. CERTAIN TRANSACTIONS; UNDERTAKING NOT TO COMPETE ..............................45.
19. DISSOLUTION AND WINDING-UP OF PARTNERSHIP ..................................................45
\ '
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0377095.07
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20. POWERS OF ATTORNEY AND DESIGNATION OF TAX MATTERS
PARTNER .........................................................................................................................47
21. INDEMNIFICATION................. .................................................................................. ...........48
22. MISCELLANEOUS. ............................................................................................................ ...50
- 11 -
0377095.07
"
"
EXECUTION COPY
(
OLDE TOWN ASSOCIATES, L.P.
FIRST AMENDED AND RESTATED
AGREEMENT OF LIMITED PARTNERSHIP
This First Amended and Restated Limited Partnership Agreement (the "Partnership
Agreement") of OLDE TOWN ASSOCIATES, L.P., a Georgia limited partnership (the
"Partnership"), is made and entered into and has been executed as of September 28, 1998, by and
among WHITE OAK OLDE TOWN, INC., a Georgia corporation and TCG DEVELOPERS
OF GEORGIA, INC., a Georgia corporation, as General Partners (the "General Partners") and
SUNTRUST BANK, A TLANT A, a Georgia banking institution (the "CDC"), as Limited
Partner, and Paula 1. Ryan, as the withdrawing partner (the "Withdrawing Partner").
The Partnership was duly formed as a limited partnership pursuant to the Georgia
Revised Uniform Limited Partnership Act (O.C.G.A. Sections 14-9-100, et ~.) (hereinafter the
"Act") by the execution and filing ofa Certificate of Limited Partnership on April 17, 1997 with
the Secretary of State of the State of Georgia. The Partnership is currently governed by the terms
of that certain Agreement of Limited Partnership dated as of September 23, 1998 (the "Original
Agreement").
The parties to'this Partnership Agreement wish to admit the CDC as an additional limited
partner, to permit the Withdrawing Partner to withdraw, and to amend, supplant and restate the
Original Agreement pursuant to the Act under the following terms and conditions.
"'~.',
1. NAME, ORGANIZATION AND PLACE OF BUSINESS
1.1 Continuation. The parties hereto agree to the continuation of the Partnership
previously formed pursuant to the provisions of the Act, and to the withdrawal of the
Withdrawing Partner. The rights and liabilities of the parties hereto shall be as provided in the
Act, except as otherwise expressly provided in this Partnership Agreement.
1.2 Name, Registered Office, Agent for Service, and Principal Place of Business.
The name of the Partnership is Olde Town Associates, L.P., its registered office and principal
place of business is c/o White Oak Real Estate Development Corp., Suite 206, 222 Clematis
Street, West Palm Beach, Florida' 33401 or such other place or places as the Managing General
Partner may hereafter determine,
The Managing General Partner shall select one or more Persons to act as the registered
agent for service of process on the Partnership in the State of Georgia and shall designate a
registered office in the State of Georgia. The initial registered agent for service of process on the
Partnership in the State of Georgia is Paranet Corporation Services, Inc., 3761 Venture Drive,
Suite 260, Duluth, Georgia, 30096.
The General Partners shall qualify promptly to. transact business and execute, file and
record any assumed or' fictitious name certificates required by the laws of the State, and, if
required, shall amend promptly the Partnership's Certificate of Limited Partnership in order to
reflect the facts set forth in this Partnership Agreement and publish such certificates or other
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. statements or certificates, and take all such other actions required by the laws of the State in
order to maintain the limited liability of the Limited Partners.
1.3 Investment Objective. The sole purpose of the Partnership is to acquire,
rehabilitate, construct, develop, own, operate, hold for investment, and dispose of the 116-unit
low income scattered site affordable housing project in Augusta, Georgia to be known as Olde
Town Apartments (the "Project").
2. DEFINITIONS
The following terms used in this Partnership Agreement with the first letter capitalized
(unless otherwise expressly provided herein or unless the context otherwise requires), shall have
the following respective meanings. These definitions, however, are provided as a matter of
convenience and for reference; in the event of any conflict between these definitions and the
provisions of other sections of this Partnership Agreement, such other sections shall prevail.
Any capitalized terms not defined herein shall have the meanings given them in the Subscription
Agreement.
"Acquisition Bridge Loan" shall mean that certain loan from SunTrust Bank, Atlanta to
the Partnership in an amount equal to $2,245,461.62.
..
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"Acquisition Fees and Expenses" are defined as the total of all fees and commissions
paid by any Person to any Person, including a General Partner or its Affiliates in connection with
the consideration, selection or purchase of any property by the Partnership, whether or not
acquired, and whether designated as real estate commissions, acquisition fees, selection fees,
nonrecurring management fees, evaluation and rejection fees, consulting fees or any similar fees
or commissions howsoever designated and howsoever treated for tax or accounting purposes and
all expenses paid by any Person in relation to actual or anticipated acquisitions of real properties
including but not limited to legal fees and expenses, travel and communications expenses, costs
of appraisals, non-refundable option payments on property not acquired, accounting fees and
expenses, title insurance and miscellaneous expenses whether or not properties are acquired.
"Act" shall mean the Georgia Revised Uniform Limited Partnership Act.
"Admission Date" shall mean the date of this Agreement.
"Affiliate" shall mean with respect to any Person: (i) any Person directly or indirectly
controlling, controlled by or under common control with such Person; (ii) a Person owning or
controlling 10% or more of the outstanding voting securities or beneficial interests of such
Person; (iii) any officer, director, partner, general trustee or anyone acting in a substantially
similar capacity as to such Person; and (iv) any Person who is an officer, director, general
partner, trustee, or holder of 10% or more of the voting securities or beneficial interests of any of
the foregoing.
"Asset Management Fee" means that certain fee payable to the Bank as described in
Section 6.6.
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\ ,
"Assignee" shall mean a'Person who has acquired, subject to the provisions of Section
12 hereof, a beneficial interest in one or more Units from a third party but who is not a Substitute
Limited Partner or Assignee of Record.
"Assignee of Record" shall mean a Person who has acquired subject to the provisions of
Section 12 hereof a beneficial interest in one or more Units, and whose ownership of the
beneficial interest in the assigned Units: (i) has been recorded on the books of the Partnership;
and (ii) is the subject of a written instrument of assignment, the effective date of which
assignment has passed, but who is not a Substitute Limited Partner.
"Bank" shall mean SunTrust Bank, Atlanta, a state bank organized and incorporated in
Georgia.
"Builder" shall mean a duly licensed general contractor to be selected by the General
Partner and approved by the Bank.
"Builder's Fee" shall mean $437,984.00 or such lesser amount as GHFA shall approve
as part of the Project's certified cost.
"CDC" shall mean SunTrust Community Development Corporation, a Georgia
corporation.
"CPI" shall mean the U.S. All-Items Consumer Price Index.
\
"Cash From Operations" shall mean cash received from operations of the Partnership
during a given period of time less: (a) operational cash disbursements during the same period of
time; (b) an allowance for any current payments of principal and interest on debt owed by the
Partnership including, but not limited to, the Acquisition Bridge Loan and the Equity Bridge
Loan (but excluding any payments attributable to Negative Cash Flow Loans, Partner Loans, and
the Development Note, all of which are payable, in whole or in part, from Cash From
Operations); and (c) payments into the Working Capital Reserve and the Replacement Reserve in
order to maintain the Reserves at the amounts required by this Agreement. Cash From
Operations will be in a deficit or negative if it is not sufficient to make the payments required in
(a), (b), and (c) above. Cash From Operations shall not include Cash From Sales or Cash From
Other Sources.
"Cash From Other Sources" shall mean (a) that portion, if any, of the net proceeds of
. the Original Capital Investment of the Limited Partners not utilized in the acquisition or
rehabilitation of the Partnership properties and not utilized to pay Syndication Expenses and
Organization Expenses, and (b) cash maintained according to the provisions of any reserve
(including without limitation, the Working Capital Reserve and the Replacement Reserve); Cash
From Other Sources shall not include Cash From Operations or Cash From Sales.
"Cash From Sales" shall mean the net cash realized by the Partnership from the sale,
refinancing or other disposition of any Partnership property (including any Title Insurance
Proceeds), after retirement of existing mortgage debt, and the payment of all expenses related to
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the transaction. Cash From Sales shall not include Cash From Operations or Cash From Other
Sources.
"Certificate of Limited Partnership" or "Certificate" shall mean the instruments, and
any amendments thereto, required by law to be executed by the Managing General Partner and
filed in the office of the Secretary of State of the State of Georgia, in order to create and preserve
the limited liability of the Limited Partners provided for in this Partnership Agreement and
available pursuant to the Act and the applicable laws of other states.
"Closing Date(s)" shall mean the date or dates on which the CDC makes its capital
contributions to the Partnership as provided for in the Subscription Agreement.
"Code" shall mean the Internal Revenue Code of 1986, as amended, including effective
date and transition rules (whether or not qualified), as in effect from time to time, and any
successor thereto. Any reference herein to a specific section or sections of the Code shall be
deemed to include a reference to any corresponding provision of future law.
"Construction Contract" shall mean a contract approved by the Bank with the Builder
on the AlA Owner/General Contractor standard form.
"Depreciation Deductions" shall have the meaning set out in Section 11.3.4.
"Developer" shall mean collectively (i) White Oak Real Estate Development Corp. and
(ii) The Carlisle Group, Inc.
"Development Agreement" shall mean that certain agreement of even date herewith
between the Partnership and the Developer by which the Developer agrees to provide services to
the Partnership. .
"Development Fee" shall mean the fee paid to the Developer as set out in Section 9.4.
"Development Note" shall mean that certain nonnegotiable, nontransferable note, with
rights of offset, issued by the Partnership to the Developer for development services, in the form
set out as an exhibit to the Development Agreement.
"Distributions" shall mean any cash or other property distributed to Limited Partners
from Cash From Operations, Cash From Sales, or Cash From Other Sources, but shall not
include any payment to the General Partners under Sections 9 or 10 hereof or the payment of the
Bank's Asset Management Fee.
~
"Economic Risk of Loss" shall mean the economic risk of loss for a liability of the
Partnership within the meaning of Section 1.752 of the Regulations.
"Equity Bridge Loan" shall mean that certain loan from SunTrust Bank, Atlanta to the
Partnership in an amount up to $3,410,000 to be repaid from the equity contributions to the
Partnership by the CDC and in accordance with terms and conditions contained herein and in the
loan documents executed in connection with said loan. .
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"Event of Insolvency" shall mean:
(a) when any Person: (i) has an order for relief entered against such Person under
Chapter 7 of federal bankruptcy law, (ii) makes a general assignment for the benefit of creditors,
(iii) files a voluntary petition under the Federal bankruptcy law, (iv) files a petition or answer
seeking for such Person any reorganization, arrangement, composition, readjustment, liquidation,
dissolution or similar relief under any statute, law, or regulation, (v) files an answer or other
pleading admitting or failing to contest the material allegations of a petition filed against such
Person in any proceeding of such a nature, or (vi) seeks, consents to, or acquiesces in the
appointment of a trustee, receiver, or liquidator of such Person, or of all or any substantial part of
the Person's properties; or
(b) (i) if within 90 days after the commencement of any proceeding against any
Person seeking reorganization, arrangement, composition, readjustment, liquidation, dissolution
or similar relief under any statute, law or regulation, the proceeding has not been dismissed, or
(ii) if within 120 days after the appointment, without a Person's consent to or acquiescence, of a
trustee, receiver, or liquidator of such Person or of all or any substantial part of such Person's
properties, the appointment is not vacated or stayed, or if within 120 days after the expiration of
any such stay, the appointment is not vacated.
"Event of Withdrawal" shall mean, with respect to any General Partner, any of the
following:
(i) such General Partner is removed or withdraws from the Partnership voluntarily,
(ii) such General Partner Transfers all or any part of its general partner Interest
without meeting the conditions to such Transfer as set out herein,
(iii) such General Partner suffers an Event of Insolvency,
(iv) in the case of a corporation which is a General Partner, the filing of a certificate of
dissolution, or its equivalent, or the revocation of its charter and the expiration of 90 days after
the date of notice to the corporation of revocation without a reinstatement of its charter;
(v). in the case of a partnership which is a General Partner: (a) any event which causes
the dissolution and winding up of that partnership; or (b) the occurrence of an Event of
Insolvency with respect to any general partner .of that partnership;
(vi) as to White Oak Olde Town, Inc. and TCG Developers of Georgia, Inc., any
default by any Seller, Seller's Affiliate, or the Partnership under the Acquisition Bridge Loan, the
Equity Bridge Loan or any other obligation to the Bank or a Limited Partner to the extent such
default is not cured on or before the later of (A) the expiration of ten (l0) days after notice of
such default is given to each Seller, or (B) the expiration of the cure 'period specified in the
applicable agreement which is in default; or
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(vii) any other event shall occur which, under the Act, causes such General Partner to
cease to be a general partner of the Partnership.
"First Closing" shall have the meaning given it in the Subscription Agreement.
"Foreign Investors" shall mean nonresident alien individuals, foreign corporations,
foreign partnerships and any. other Person who is not a "United States person" within the
meaning of Section 7701(a)(30) of the Code.
"General Partners" shall refer to White Oak Olde Town, Inc. and TCG Developers of
Georgia, Inc. in their capacity as the general partners of the Partnership, and any permitted
successors, permitted substitute or permitted additional general partner of the Partnership.
"General Partner" shall refer to anyone of them.
"GHFA" shall mean the Georgia Housing and Finance Authority, acting by and through
. its agent, the Georgia Department of Community Affairs.
"Gross Property Rents" shall mean all rents received from the operation of the Project
other than from security deposits paid by lessees thereof.
"Interest" shall mean the entire ownership interest of a Partner in the Partnership at any
particular time, including the right of the Partner to vote or to receive any and all benefits to
which a. Partner may be entitled as provided in this Partnership Agreement, together with the
obligation of such Partner to comply with all the terms and provisions of this Partnership
Agreement.
"Land" mean approximately 56 parcels of the real property as more particularly
described in the Subscription Agreement.
"Limited Partners" shall refer to the Withdrawing Partner, CDC, and to any other
Persons who are admitted to the Partnership as additional or Substitute Limited Partners.
Reference to a "Limited Partner" shall refer to anyone of them.
"Majority Vote" shall mean the affirmative vote of Limited Partners who own more
than 50% of the Total Outstanding Units approving an action to be taken or a determination to be
made. A Majority Vote may be taken by written consent of those eligible to vote on the
proposition at issue and without a meeting.
"Management Agreement" shall mean that certain management agreement of even date
herewith between the Partnership and the Management Company as such agreement may be
changed from time to time.
"Management Company" shall mean Pinnacle Realty Management Company or such
other management company selected by the Managing General Partner and approved by Majority
V ote and any successor company under the Management Agreement if so selected and approved.
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"Managing General Partner" means the General Partner designated as the Managing
General Partner as set forth in this paragraph. Until such time as White Oak Olde Town, Inc.
suffers an Event of Withdrawal, it shall be the Managing General Partner. If White Oak Olde
Town, Inc. suffers an Event of Withdrawal, then TCG Developers of Georgia, Inc. shall then
become the Managing General Partner, provided that if TCG Developers of Georgia, Inc. is not
then serving as a General Partner, then such General Partner as shall be selected by Majority
V ote shall serve as the Managing General Partner.
"Minimum Gain" shall have the meaning given to it by Regulations under Subchapter
K of the Code and shall mean generally the amount of gain (of whatever character), if any, that
would be realized by the Partnership with respect to a Partnership asset if that Partnership asset
were disposed of by the Partnership in a taxable transaction in full satisfaction of any
Nonrecourse Liability of the Partnership secured by such asset (and for no other consideration).
"Negative Cash Flow Loans" shall mean nonrecourse, subordinated, non-interest
bearing loans to be made by the General Partners or their Affiliates as follows:
(i) loans to the Partnership In order to provide the Partnership, during the period
beginning on the Second Closing and ending on the fifth anniversary of the date
of Second Closing (or on December 31, 2005 if sooner), with sufficient funds to
make, in a timely manner, all operating cash disbursements, all payments of debt
service, and all payments into the Working Capital and Replacement Reserves;
\:"
(ii)
loans, unlimited in amount, voluntarily made by the General Partners to the
Partnership pursuant to Section 17.1.6 of this Agreement in order to avoid being
removed for cause by the Limited Partners.
Negative Cash Flow Loans shall be repaid in the manner and priority set out in Section
11.2.4 of this Agreement.
"Net Income" or "Net Loss" shall mean for each fiscal year or other period, an amount
equal to the Partnership's taxable income or loss for such year or period, determined in
accordance with Section 703(a) of the Code (for this purpose, all items of income, gain, loss or
deduction required to be separately stated pursuant to Section 703(a)(1) of the Code shall be
included in taxable income or loss), with the following adjustments:
(i) Any income of the Partnership that is exempt from federal income tax and not
otherwise taken into account in computing Net Income or Net Loss shall be added
to such taxable income or loss;
(ii) Any expenditures. of the Partnership described in Section 705(a)(2)(B) of the
Code or treated as Section 705(a)(2)(B) expenditures pursuant to Section 1.704-
1 (b )(2)(iv)(i) of the Regulations, (e.g., nonamortizable organization and
syndication costs) and not otherwise taken into account in computing Net Income
. or Net Loss shall be subtracted from such taxable income or loss;
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(iii) Depreciation Deductions and Nonrecourse Deductions or other items that are
specially allocated pursuant to Section 11.3.4 for any fiscal year or other period
shall not be taken into account in computing Net Income or Net Loss;
notwithstanding the foregoing Net Income or Net Loss on the disposition of the
Project shall be computed from the Partnership's adjusted basis in its assets after
taking into account Depreciation and Nonrecourse Deductions; and
(iv) Any item of income, gain, loss or deduction which is specially allocated pursuant
to Section 11.3.7 shall not be taken into account in computing Net Income or Net
Loss.
"Nonrecourse Deductions" shall have the meaning given them in the Regulations, and
in general shall mean the excess, if any, of the net increase in the amount of Partnership
Minimum Gain during a partnership's taxable year over the aggregate amount of any
distributions during such year of proceeds of Nonrecourse Liability that are allocable to an
increase in Partnership Minimum Gain. Nonrecourse Deductions shall be determined in
accordance with the Regulations.
"Nonrecourse Liability" shall have the meaning set out in the Regulations and shall
mean generally indebtedness secured by Partnership property for which no Partner nor any
Related Person bears the Economic Risk of Loss.
"Operational Expenses" shall mean all expenses of the Partnership except those
deemed to be Organization Expenses.
"Organization Expenses" shall mean those expenses incurred in connection with the
formation of the Partnership, the negotiation and preparation of this Agreement, and the
Subscription Agreement, and the other agreements contemplated thereby, and any other expenses
actually incurred and directly related to the offering and sale of Units except Syndication
Expenses.
"Original Capital Investment", as to the Limited Partners, shall mean the amount in
cash or the fair market value as consented to by a Majority Vote of any property contributed to
the capital of the Partnership by the Limited Partners for their Units. Original Capital Investment
shall be reduced by any amounts returned to the Limited Partners on account of any downward
adjustment in their required Capital Contributions but not by any other Distributions.
Tax benefits, Depreciation Deductions, Nonrecourse Deductions, Net Losses, or
Distributions shall not reduce a Limited Partner's Original Capital Investment. Amounts
contributed for Units as Original Capital Investment shall be attributed to such Units. in the hands
of any subsequent Unitholder.
"Original Capital Investment", as to the General Partners, shall mean the amount in
cash contributed to the capital of the Partnership by the General Partners for their Interest. It
shall not be increased by any capital contributed by the General Partners or any Seller to pay
Project Cost in excess of Budgeted Project Costs, Tax Credit Litigation Expenses, principal
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('.~'" -
payments on the Developer's Note, or to fund any Working Capital or Replacement Reserve. It
shall not be reduced by tax benefits, Net Losses, Depreciation Deductions, Nonrecourse
Deductions, or by Distributions.
"Partner Loans" shall mean those loans described in Section 6.4 of this Agreement
made voluntarily by a Partner.
"Partners" shall refer collectively to the General Partners and to the Limited Partners,
and reference to a "Partner" shall be to anyone of the Partners.
"Partnership" shall refer to the limited partnership created by virtue of this Partnership
Agreement and the recordation of a Certificate of Limited Partnership or amended Certificate, as
the case may be, in accordance with the Act.
"Partnership Agreement" shall mean this First Amended and Restated Limited
Partnership Agreement, as originally executed and as amended from time to time.
"Partnership Minimum Gain" shall mean the Partnership's aggregate Minimum Gain.
Partnership Minimum Gain shall be further determined in accordance with the rules of Section
1.704-2(d)(1) of the Regulations.
\.
"Partner Nonrecourse Debt" shall mean any nonrecourse debt for which any Partner or
a Related Person bears the Economic Risk of Loss. Partner Nonrecourse Debt is treated as a
Nonrecourse Liability in determining the Minimum Gain attributable to Partner Nonrecourse
Debt. Partner Nonrecourse Debt shall be determined as provided in the Regulations.
"Partner Nonrecourse Deductions" shall mean the increase during a Partnership's
taxable year of the Minimum Gain attributable to a Partner Nonrecourse Debt over the aggregate
amount of any distributions during such year to the Partner that bears the Economic Risk of Loss
for such debt of proceeds of such debt that are allocable to an increase in the Minimum Gain
attributable to such debt. Partner Nonrecourse Deductions shall be further determined in
accordance with the rules of Section 1.704-2(i) of the Regulations.
"Permanent Loans" shall mean three loans, one from GHF A and two from Augusta,
Georgia and meeting the definition of qualified commercial nonrecourse financing contained in
Sections 49(a) and 465(b)(6) of the Code, and for which no Partner or a Related Person bears the
Economic Risk of Loss and the cost of obtaining which does not exceed the amount budgeted by
the Partnership. The GHF A loan shall be in an original principal amount of not less than
$1,730,000, shall bear interest at a per annum rate of not more than 1 % and shall have a term and
require periodic 'payments based on an amortization period of not less than thirty (30) years. The
two Augusta, Georgia loans shall be in an original principal amount of not less than $568,500
each, shall bear interest at a per annum rate not more than the long-term Applicable Federal Rate
in effect as of the respective loan closing date and shall have a term and require periodic
payments based on an amortization period of not less than thirty (30) years.
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0377095.07
The Partnership will not make any payment in the nature of discount points in order to
reduce the effective interest rate or in order to increase the effective yield to the lender on the
Permanent Loans.
"Person" shall mean any individual, partnership, limited liability company, corporation,
trust, estate, association or other legal entity.
"Project" shall mean that certain 116-unit scattered site low income rental housing
project in Augusta, Georgia known as Olde Town Apartments to which GHF A has allocated low
income housing tax credits.
. "Property Management Fee" means the fees, not to exceed six percent of the Project's
Gross Property Rents or such amount set forth in the Management Agreement as approved by the
Limited Partners, whichever is greater, paid under the Management Agreement for day-to-day
professional property management services in connection with the Project.
"Record Date" shall mean the last day of each calendar quarter or such other date
established by the Managing General Partner for determining the identity of Unitholders entitled
to receive Distributions or to vote.
(
"Regulations" shall mean Regulations promulgated under the Code, as such Regulations
may be amended from time to time. Any reference herein to a specific Regulation shall be
deemed to include a reference to any corresponding provision of succeeding Regulations.
"Related Person" shall mean a Person related to a Partner within the meaning of Section
1.7 52-4(b) of the Regulations.
"Replacement Reserve" shall mean the reserve specified in Section 3.3 below.
"Second Closing" shall have the meaning given it in the Subscription Agreement.
"Sellers" means White Oak Olde Town, Inc., TCG Developers of Georgia, Inc., Paula 1.
Ryan, Lloyd J. Boggio, Luis A. Gonzalez and Bruce Greer. "Seller" shall refer to any of them.
"Sellers' Indemnity" shall mean that certain Sellers' Indemnity and Guaranty
Agreement between the Sellers and the CDC, of even date herewith, setting forth the joint and
several obligation of the Sellers to pay to the CDC, its successors or assigns, or to the Partnership
under certain conditions any amounts due them under that Sellers' Indemnity and Guaranty
Agreement, the Subscription Agreement, and this Agreement.
Except as may be specifically provided otherwise in the Sellers' Indemnity and Guaranty
Agreement, payments pursuant to the Indemnity will not entitle any payor to reimbursement
from the Partnership or from any Limited Partner in the Partnership nor shall payor receive from
the Partnership any Interest or Capital Account in the Partnership on account of such payment
except as set forth in the Sellers' Indemnity.
"Short-Term Investments" shall mean investments which are certificates of deposit or
other short term obligations of the Bank.
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"Subscription Agreement" shall mean that agreement of even date herewith between
the General Partners and the other Sellers and CDC as Purchaser.
"Substitute Limited Partner" shall mean those Assignees of Units admitted to the
Partnership as Limited Partners pursuant to Section 13 hereof.
"Syndication Expenses" shall mean all expenditures classified as syndication expenses
pursuant to Section 1. 709-2(b) of the Regulations.
"Tax Credits" shall mean all tax credits available to the Partnership, including, without
limitation, any low-income housing credits to tax under Section 42 of the Code.
"Tax Credit Litigation Expenses" shall mean all expenses of every kind and nature,
whether for attorney's fees, accountant's fees, witness fees, consultant's fees or otherwise, and
any expenses in connection therewith, incurred by the Partnership if they arise out of any
challenge by the Internal Revenue Service or other tax authority to the allocation or carryover
allocation of tax credits or the availability of tax credits to the Partnership, or the recapture of
such credits by the Partnership or any Partner, or the allocation of such credits to any Partner.
Tax Credit Litigation Expenses, however, shall not include the first $5,000 of expense incurred
by the Partnership in connection with any such challenge and also shall not include any such
challenge which may result from a change in the Code or the Regulations after the date of this
Agreement.
(.
\, The amount of any Tax Credit Litigation Expenses shall be specially allocated to the
General Partners and they shall make capital contributions to the Partnership in the amount of
such expenses within 30 days of the date those expenses are billed to the Partnership.
"Taxable Investor" shall mean: (a) a Person who purchases Units from the Partnership
and who at the time of such purchase is not a Tax-exempt Investor; and (b) permitted transferees
and permitted assignees of Units from a Person described in (a) above who are not Tax-exempt
Investors.
. "Tax-exempt Investor" shall mean: (i) a Qualified Plan or (ii) certain religious,
charitable, scientific, literary and educational corporations, funds and foundations intended to be
exempt from federal income taxation.
"Title Insurance Proceeds" shall. mean the net proceeds available to the Partnership
from any policies of title insurance insuring the Project and from any recovery against any
attorneys certifying title to the Project.
"Total Outstanding Units" shall mean all Units issued and outstanding at the close of
business on any Record Date.
"Transaction Documents" shall mean this Agreement, the Subscription Agreement, the
documentation of the Bridge Loan, the Guaranty of the Bridge Loan, the Sellers' Indemnity, the
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Development Agreement, the Construction Contract, and the documentation of the Permanent
Loans.
"Transfer" means a transaction by which a General Partner, directly or indirectly,
transfers its Interest as a General Partner to another Person, or by which a Limited Partner,
directly or indirectly, transfers its Interest as a Limited Partner to another Person, and Transfer
includes a sale, an option to purchase, a redemption pursuant to a plan of redemption that may be
subsequently adopted under the terms of this Partnership Agreement, an assignment, gift, pledge,
encumbrance, hypothecation, mortgage, exchange or any other disposition.
An option to purchase, a change in control of or a change in ownership of, more than
49% of any interest at any time outstanding of the equity in a General Partner, or of the equity in
any parent or ultimate parent of a General Partner, including a merger, whether or not the
General Partner or the parent of such General Partner-is the surviving Person in such merger,
shall be a Transfer under this Partnership Agreement as shall any such event with respect to any
general partner of ally partnership serving as a general partner of the Partnership. The
determination of whether a Transfer of more than 49% has occurred shall be determined in the
aggregate in comparison to the ownership of the General Partner as of the later of (i) the date
hereof or (ii) the date the General Partner was admitted to the Partnership (e.g., a Transfer of a
2% interest in the General p'artner may violate the provisions of this paragraph if an aggregate
48% interest in the General Partner has previously been transferred after the date hereof).
\.
Without limiting the generality of the foregoing, any "ownership change," as defined in
Section 382 of the Code, of any corporation which serves as a General Partner or as a general
partner of any partnership serving as a General Partner shall be deemed to be a Transfer of the
General Partner's Interest.
"Unit" shall represent a capital contribution of $1,000 to the Partnership and shall mean
an Interest of a Limited Partner in the Partnership acquired pursuant to such contribution
provided that each Unit at any time outstanding shall represent the same fractional part of the
Interests of all Limited Partners as each other Unit.
"Unitholders" shall refer to owners of Units who are either Partners, Assignees or
Assignees of Record, and reference to a "Unitholder" shall be to anyone of the Unitholders.
"Working Capital Reserve" shal.1 mean the fund specified in SectIon 3.2 below.
3. PURPOSE AND RESERVES
3.1 Purpose. The sole purpose of the Partnership is to acquire, develop, operate, hold
for investment, and dispose of the 116-unit scattered site low income rental housing project
located in the City of Augusta, Georgia, (the "Project") and anything incidental or necessary to
the foregoing.
The Partnership may also acquire, own, hold and dispose of Short Term Investments
incident to the foregoing.
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3.2 Working Capital Reserve. At Second Closing, the General Partners shall fund
or shall cause the Partnership to fund a Working Capital Reserve in the amount of$100,000.
Thereafter, as necessary at the end of each calendar quarter after funding the Replacement
Reserve, the Partnership will make payments into the Working Capital Reserve in order to
replenish and maintain the Working Capital Reserve in an amount equal to the greater of:
(i) $100,000, (ii) the amount required by any Permanent Loan or (iii) such amount as shall be
agreed upon by the Managing General Partner and by Majority Vote of the Limited Partners.
To the extent that any lender to the Partnership requires the escrow of funds for taxes and
insurance, the amount of such escrowed funds shall not be considered to be part of the Working
Capital Reserve; to the extent that any lender to the Partnership requires a replacement reserve to
be funded by the Partnership, the amount of such replacement reserve shall not be considered a
part of the Working Capital Reserve.
The Partnership shall use its best efforts to maintain the Working Capital Reserve at the
required amount, including without limitation, funding such Reserve prior to making
Distributions or payments of compensation to the Partners or their Affiliates including, but not
limited to, payments on the Development Note. The Working Capital Reserve may be used for
such working capital purposes as the Managing General Partner deems necessary.
, .
\
3.3 Replacement Reserve. Prior to making any Distributions and beginning with the
calendar first quarter following the First Closing, the Partnership will fund the Replacement
Reserve quarterly in an amount equal to the greater of (i) $62.50 per unit per quarter, adjusted
annually for the calendar year 1999 and later years by any increase or decrease in the CPI; or
(ii) the amount of replacement reserve required by any lender under any of the Permanent Loans
or under any loan which refinances the Permanent Loans.
If the Replacement Reserve is reduced at a time when its balance is less than $87,000,
then, in addition to the deposit of $62.50 per unit per quarter, the Partnership shall use its best
efforts to fund and replenish the Replacement Reserve by an amount equal to such reduction. If
the Replacement Reserve is reduced at a time when its balance exceeds $87,000, the Partnership
shall use its best efforts to fund and replenish the Replacement Reserve to an amount equal to not
less than $87,000. In either such case, the Partnership shall not make Distributions or payments
of compensation to Partners or their Affiliates unless all Replacement Reserve funding
requirements have been satisfied.
4. TERM
The Partnership commenced on the date of filing of a Certificate of Limited Partnership
in the Office of the Secretary of State of the State of Georgia, and shall continue until terminated
in accordance with the provisions of this Partnership Agreement or as otherwise provided by law.
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5.
GENERAL PARTNERS
5.1 In General, and Capital Contribution. The General Partners have contributed
cash as required by the Subscription Agreement in the amount of $500 and will contribute cash,
from time to time if required, so that the value of any property and the amount of cash
contributed by it shall be no less than 0.1 % times the Original Capital Investments of the Limited
Partners. The General Partners shall not hereafter be required to contribute capital to the
Partnership except as follows:
(i) the General Partners may be required to contribute additional capital to the
Partnership to the extent required to fund the Working Capital Reserve at the time and as the
manner set out under Section 3.2 hereof;
(ii) the General Partners shall contribute additional capital to the Partnership
in cash in an amount which, when added to the net proceeds of the Permanent Loans, any
operating revenues, any utility allowances, and the capital contribution of the CDC, will
constitute a sum considered sufficient by the CDC to:
(a)
the Permanent Loans;
fund fully all reserves required by this Partnership Agreement and
pay all Project Costs exclusive of the Development Fee;
/
(
(b)
(c)
pay any Operating Deficits;
(d) pay the Acquisition Bridge Loan;
( e) pay the Equity Bridge Loan.
Such contributions shall be made as required, and all shall be made on or before the due
date of the Equity Bridge Loan.
(iii) the General Partners are required to contribute additional capital in order
to pay the Tax Credit Litigation Expenses, and, as set out more fully in Section 11.5 of this
Agreement, if a General Partner ceases to -serve, to make up any deficit in its Capital Account;
(iv) at maturity of the Development Note, if the Partnership is not otherwise
able to satisfy the Development Note from Working Capital Reserves and other cash on hand, the
General Partners are required to contribute additional capital as necessary to enable the
Partnership to satisfy the outstanding balance of the Development Note.
(v) the General Partners shall contribute additional capital if required by the
Act or any other laws applicable to the Partnership.
Any reduction of the Original Capital Investment of the Limited Partners will not entitle
the General Partners to withdraw any capital from the Partnership.
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Section 6.2, the Withdrawing Partner's Interest shall be redeemed for $100 and it shall withdraw
as a Partner of the Partnership.
6.2 Additional Limited Partners. Pursuant to the Subscription Agreement, the
Partnership will issue no more than 4,150 Units and all issued Units will be issued to the CDC.
There will be no Limited Partners in addition to the CDC unless the CDC Transfers one or more
of its Units. The CDC (and each Person who acquires any such Units from the CDC under the
conditions set out elsewhere herein) shall be admitted as a Limited Partner in the Partnership and
be reflected as a Limited Partner on the books and records of the Partnership.
6.3 Nominee Ownership. Any Limited Partner who holds Units in the Partnership as
a nominee for any other Person agrees to furnish the Partnership with the information required by
the Internal Revenue Service ("IRS") pursuant to Section 6031 (c)(1) of the Code and any
Regulations or interpretations thereof, including: (i) the name, address and taxpayer
identification number of the nominee and of such other person; (ii) whether such other person is
a tax-exempt entity; (iii) a description of Units purchased during the taxable year, including the
method, cost, and date of acquisition of the Units; and (iv) a description of Units transferred
during the taxable year, including the net proceeds and date of such Transfer.
;
I"
6.4 Partner Loans. If the Partnership's Cash From Operations is in deficit and the
General Partners have failed to make or are not required to make Negative Cash Flow Loans and
financing is not available from third persons, then any Partner may, but is not required to, make
non-recourse loans to the Partnership ("Partner Loans") to be repaid with annual interest at 150%
of the Bank's prime rate, to be secured by a deed to secure debt on the Project (if permitted by the
loan deeds then existing on the Project), and to be repaid from Distributions as more fully
provided herein. To the extent that the Bank or any Affiliate of the Bank is the lender under the
Acquisition Bridge Loan, then the Managing General Partner shall cause the security for that
loan to secure any Partner Loans made by the CDC.
6.5 No Fiduciary Duty on Limited Partners. If a Limited Partner or its Affiliate
loans or participates in any loan to the Partnership, that Limited Partner has no fiduciary duty to
the Partnership or the other Partners with respect to such loan and may act as a Limited Partner in
order to protect or further its interest or that of any Affiliate as a lender.
6.6 Asset Management Fees. The Bank will be entitled to be paid, but only after
Distributions under Sections 11.2.4 and 11.2.5 of this Agreement, a quarterly Asset Management
Fee for its services on behalf of all Limited Partners in monitoring the compliance of the
Partnership, General Partners and Developer with the Transaction Documents. The fee shall be
$1,250 per quarter, payable within forty-five (45) days of the end of each calendar quarter, and
prorated by days for any.period of less than a full quarter. The fee shall be paid only from Cash
From Operations, Cash From Sales, and Cash From Other Sources and, if not paid for any
quarter, it shall accumulate. .
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7. STATUS OF LIMITED PARTNERS AND UNITS.
Except as provided in the Act, each Unit shall be fully paid and nonassessable when
issued. Limited Partners shall not be bound by, or be personally liable for, the expenses,
liabilities or obligations of the Partnership in excess of their contributions made or required to be
made, and no Limited Partner shall be required to lend funds to the Partnership, to make any
further contribution to the Partnership or to repay to the Partnership, any Partner, or any creditor
of the Partnership all or any portion of any negative balance in such Limited Partner's Capital
Account.
8. PARTNERSHIP CAPITAL
8.1 Return of Capital. No Partner shall have the right to withdraw or receive any
return of a capital contribution, except as specifically provided herein or as required by law. No
Limited Partner shall have priority over any other Limited Partner as to the return of a capital
contribution or as to Net Income, Net Losses, Distributions or other Partnership tax items.
8.2 Only Cash to be Returned. Under circumstances requiring a return of any
Partner's capital contribution, no Partner shall have the right to receive property other than cash.
9. COMPENSATION TO THE GENERAL PARTNERS AND THEIR AFFILIATES
(
9.1 Compensation - Overall Limitations. Except as provided in this Article 9, no
General Partner shall receive any compensation for its services as a general partner in the
Partnership. Affiliates of the General Partners or either of them will receive compensation from
the Partnership only as specified by Section 9 of this Partnership Agreement.
9.2 Compensation - Acquisition Fee. The Partnership will not payor cause to be
paid to any General Partner or to any of its Affiliates any Acquisition Fees and Expenses for
services rendered in connection with the Partnership's acquisition of the Project. This paragraph
does not preclude reimbursement of pre-acquisition costs pursuant to Section 10.1 or payment of
the Development Fee in accordance with the terms of the l?evelopment Agreement.
9.3 Compensation - Property Management Fee. Unless the prior approval by
Majority Vote is obtained, no Affiliate of a General Partner shall be entitled to receive a Property
Management Fee for managing the Project.
9.4 Compensation - Development Fee. At Second Closing, or, if sooner, on the last
day of the first year of the tax credit period, the Partnership will issue its note to the Developer in
payment of the Development Fee to cover the services and expenses of the Developer and those
of its Affiliates for the development of the Project, all in accordance with the terms of the
Development Agreement.
The Development Fee shall be reduced by the amount of legal fees incurred in
connection with the financing and development of the Project which are in excess of the greater
of (i) $100,000 or (ii) such legal fee amount as may be agreed upon by GHF A. This provision is
17
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intended to enable the Partnership to comply with the requirements of one or more of the
Permanent Loans.
9.5 Financial Advisory Fee. The Partnership shall pay to the Managing General
Partner a monthly fee equal to the Gross Property Rents received by the Partnership during the
preceding calendar month multiplied by the lesser of (i) 1 % or (ii) 6% less the percentage of
Gross Property Rents payable to the Management Company.
9.6 Compensation - Incentive Management Fee. As contingent compensation for
its services in managing the Partnership and overseeing the management of the Project by the
Management Company, the General Partners shall receive an Incentive Management fee payable
only from Cash From Operations for each fiscal year after Distributions having a higher priority
are paid. If Cash From Operations is available then the General Partner shall be paid an amount
equal to 75% of the difference between (a) Cash From Operations in each year, minus (b) the
aggregate amount of all Distributions having a higher priority of payment in that year. Subject to
Section 14.7, the fee may be paid, in arrears, at the end of each quarter after other Distributions.
having a higher priority have been made, but subject to adjustment at year-end based upon
annual financial statements.
9.7 Other Goods and Services. Except as provided in this Article 9, neither the
General Partners nor their Affiliates shall receive compensation for providing goods and services
to the Partnership.
10. P ARTNERSIDP EXPENSES
10.1 Reimbursement of Expenses Advanced by the General Partners or their
Affiliates. Subject to Section 10.3 of this Partnership Agreement, the Partnership shall
reimburse the General Partners or pay any Affiliate thereof for the actual cost to the General
Partner~ or Affiliates of goods and materials used by the Partnership and obtained from entities
unaffiliated with the General Partners and their Affiliates if such goods and materials are
necessary for the prudent operation of the Partnership and are purchased at arm's length prices.
. The "actual cost" of goods and materials includes the price of goods and materials paid to
independent third parties and direct costs incurred by the General Partners or their Affiliates in
the transaction but direct cost shall not include salaries, wages or other overhead of the General
Partners or their Affiliates attributable to the transaction nor general and administrative overhead.
Any insurance procured from unaffiliated third parties on behalf of the Partnership by the
General Partners shall be considered a "good" for which the General Partners, or their Affiliates,
is entitled to reimbursement in accordance with the provisions of this Section.
The Partnership shall not reimburse the General Partners for any Syndication or Tax
Credit Litigation Expenses.
10.2 Billing of Expenses. The General Partners shall have all of the Partnership's
expenses billed directly to and paid by the Partnership.
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(..... .
('.
In addition, in the Partnership's annual report to Limited Partners, there shall be provided
an itemized account of reimbursements made to the General Partners or their Affiliates. No
reimbursement will be made to the General Partners or their Affiliates for their overhead or for
any of the indirect or general and administrative expenses of the General Partners or their
Affiliates and no payment will be made to third persons for services which the General Partners
or their Affiliates are required to perform for the Partnership.
10.3 Expenses Paid By General Partners or their Affiliates. The General Partners
or their Affiliates shall pay, at no cost to the Partnership (i.e., with no right to reimbursement by
the Partnership):
10.3.1. Salaries, direct expenses, indirect and overhead expenses (which shall
include rent, depreciation, utilities, capital and data processing equipment and services, and other
administrative items) of the General Partners and their Affiliates;
10.3.2. Syndication and Tax Credit Litigation Expenses;
10.3.3. All other Partnership expenses not listed in Section 10.4;
10.3.4. All expenses which are unrelated to the business of the Partnership; and
10.3.5. Organization and Syndication Costs incurred prior to May 1, 1998.
...... -~.
I
\.
10.4 Expenses Paid By Partnership. The Partnership shall pay all costs and expenses
of the Partnership required to be paid by it under the Management Agreement, and shall pay also
the following expenses of the Partnership, subject to the provisions of Sections 10.1, 10.2 and
10.3 preceding:
10.4.1. All Operational Expenses of the Partnership, which may include, but are
not limited to: (i) costs paid to lenders for borrowed money, taxes and assessments on
Partnership properties and other taxes applicable to the Partnership; (ii) legal, accounting, and
audit fees; (iii) fees and expenses paid to unaffiliated Persons, including mortgage bankers,
brokers and servicers, consultants, and insurance brokers; and (iv) fees and expenses paid to
unaffiliated Persons in connection with' the disposition, replacement, alteration, repair,
remodeling and refurbishing of Partnership properties (including the costs and expenses of
foreclosures, legal and accounting fees, insurance premiums, real estate brokerage and
maintenance connected with such property); and
10.4.2. Legal, accounting, documentation; professional and reporting expenses of
the Partnership, as follows: (i) accounting and audit expenses;. (ii) preparation and
documentation of Partnership federal and state tax returns; (iii) expenses and taxes incurred in
connection with the issuance, distribution,' trailsfer, registration and recording of documents
evidencing ownership of an interest in the Partnership; (iv) insur~ce premiums as required in
connection with the business of the Partnership (other than directors, officers and general
partners liability insurance); (v) fees and expenses related to revising, amending, converting,
modifying or interpreting the Partnership Agreement and related documents, operating or
19
0377095.07
terminating the Partnership (including, without limitation, fees to reimburse the CDC for the cost
of its professional advisers for legal and other services, except such expenses will not exceed
$35,000 prior to Admission; (vi) legal and accounting costs of the Partnership incurred in
connection with any litigation or other proceeding (excluding Tax Credit Litigation Expenses);
(vii) costs of preparation and dissemination of informational material and documentation relating
to the potential sale, refinancing or other disposition of Partnership properties; and (viii) the low
income tax credit allocation agencies monitoring fee.
11. DISTRIBUTIONS, ALLOCATIONS OF INCOME AND LOSS AND CAPITAL
ACCOUNTS
11.1 General Distribution, Allocation, and Apportionment Provisions.
11.1.1. All Distributions to the Limited Partners as a group shall be paid to them
in the ratio that the number of Units owned by each Limited Partner bears to the total number of
Units owned by all Limited Partners on the applicable Record Date. All Distributions to the
General Partners as a group shall be paid to them in the proportion that the Original Capital
Investment of each of them bears to the Original Capital Investment of all of them.
11.1.2. Allocations of Net Income, Net Loss, Nonrecourse Deductions, and
Depreciation Deductions to the Limited Partners as a group with respect to any month shall be
allocated among them as of th~ first day of each month of the Partnership's taxable year (which is
the same as its fiscal year) in the ratio that the number of Units owned by each of them bears to
the total number of Units owned by all of them as of that date.
Allocations of all tax items, including, without limitation, Tax Credits to the Limited
Partners as a group shall be apportioned among them in the ratio that the number of Units owned
by each of them bears to the number of Units owned by all of them. A Limited Partner who is
admitted to the Partnership on any day in a calendar month shall be deemed to have been
admitted as of the first day of such calendar month.
11.1.3. Subscribers for Units shall be admitted to the Partnership as provided in
Section 6.2.
11.1.4. That portion of Net Income, Net Loss, Nonrecourse Deductions, Tax
. Credits, Depreciation Deductions, and other Partnership tax items allocated among the Partners
during any taxable year in which there is a change in the percentage of such items allocated
among the Partners, shall be allocated so as to take into account the varying interests of the
Partners in such items during such taxable year; such items will be allocated by taking the
amount of such items for the entire taxable year and pro rating such items on a monthly basis
among the Partners in accordance with their varying percentages during such year.
11.1.5. In the case ofa Transfer of Units:
(i)
transferred Units; and
a Substitute Limited Partner will be recognized as ownmg
20
0377095.07
(" : .
(ii) an Assignee or Assignee of Record will be recognized as being
entitled to receive allocations of Net Income, Net Loss, Depreciation Deductions, Nonrecourse
Deductions, Tax Credits, and other Partnership tax items, and Assignees of Record will be
entitled to receive Distributions, attributable to the assigned Units in the same manner as a
Substitute Limited Partner would be so entitled with respect to transferred Units, at the time
determined in accordance with Section 12 hereof.
11.1.6. Notwithstanding anything to the contrary herein, the Managing General
Partner, after 60 days' prior notice to the Limited Partners, and with an approving Majority Vote,
may:
(i) adopt a convention other than a Record Date convention for
determining the recognition of the Limited Partners and Unitholders entitled to Distributions that
the Managing General Partner determines is reasonable; and
, (ii) allocate Net Income, .Net Loss, Depreciation Deductions,
Nonrecourse jDeductions, Tax Credits, and other Partnership tax items among the Partners during
the taxable year of the Partnership in a manner other than that set forth in this Section 11.1 if the
General Partners determine that the allocation satisfies the requirements of Section 704 of the
Code and any Regulations promulgated thereunder.
11.2 Distributions.
\. 11.2.1. All Distributions are subject to: (i) the prior funding and maintenance of
the Working Capital Reserve and the funding and maintenance of the Replacement Reserve;
(ii) the prior payment of all expenses (including capital expenditures and reimbursable expenses
of the General Partners and their Affiliates that have been incurred but have not been reimbursed
pursuant to Section 10.1) of-the Partnership other than expenses attributable to fees payable from
Distributions; (iii) any prohibitions contained in contractual provisions of mortgages or other
debt obligations of the Partnership; and (iv) the prior payment to each of the Partners of an
amount in cash equal to 40% of the taxable income allocated to each of them.
11.2.2. Any amounts paid or reimbursed. to the General Partners and their
Affiliates pursuant to Sections 9 and 10 shall not be deemed to be Distributions for purposes of
Section 11 of this Partnership Agreement, regardless of how such payments or reimbursements
are characterized for federal income tax purposes.
11.2.3. No Distributions shall be made before Second Closing.
11.2.4. Cash From Operations for that portion of the fiscal year following the
Second Closing and for each fiscal year thereafter shall be distributed for that year, within 30
days after the last day of each calendar quarter, as follows:
(i) first, to the extent this amount has not been paid pursuant to the
Sellers' Indemnity, to. the Limited Partners until they have received on a cumulative basis an
amount equal to 165% of the difference between (a) the amount of the Tax Credits in each year
21
0377095.07
(<: ';"""
\
used in computing the amount of their capital contributions and (b) the amount of any Tax
Credits allowed by the Internal Revenue Service to them for those years (except for any Tax
Credits not received by them because of the sale of their Interests);
(ii) next, to the extent that this amount has not been paid pursuant to
the Sellers' Indemnity, to the Limited Partners until they have received the amount of deductible
interest and 165% of the amount of nondeductible interest and penalty, if any, paid by them to
the Internal Revenue Service on account of their failure to receive during the credit period the
amount of the Tax Credits used in computing the amount of their contributions;
(iii) next, to repay accrued interest and then principal of Partner Loans
until such Loans are paid in full. Payments of Partner Loans shall be made pro rata to the
Partners, in the proportion that the principal balance and accrued interest due each of them bears
to the amount due all of them;
(iv) next, to repay Negative Cash Flow Loans, pro rata, in the
proportion that the principal balance on each such loan bears to the aggregate of the principal
balances on all such loans;
(v) next, to pay to the Bank the amount of any unpaid Asset
Management Fee for all prior years and the current fiscal year;
/
,
,
(vi) next, to payment of the Development Note;
(vii) next, 75% to pay the Incentive Management Fee; and the
remaining 25% shall be paid 80% to the General Partners and 20% to the Limited Partners.
11.2.5. Cash From Sales and Cash From Other Sources shall be paid within thirty
(30) days after the last day of each calendar quarter in the following priority:
(i) first, to the extent that this amount has not been paid pursuant to
the Sellers' Indemnity, to the Limited Partners until they have received on a cumulative basis
165% of the difference between the amount of the Tax Credits in each year used in computing
the amount of their capital contributions and the amount of any Tax Credits allowable to them
for those years (except for any Tax Credi~s not received by them because of the sale of their
Interests),
(ii) next, to the extent that this amount has not been paid pursuant to
the Sellers' Indemnity, to the Limited Partners until they have been paid the amount of the
deductible interest and 165% of the amount of the nondeductible interest and penalty, if any, paid
by them to the Internal Revenue Service on account of their failure to receive during the credit
period the amount of the Tax Credits used in computing the amount of their contributions;
(iii) next, to repay the accrued interest and any principal balance on any
Partner Loans, pro rata, in the proportion that the principal balance and accrued interest, if any,
. '.....::. ~ -
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0377095.07
.....-..
on each such loan bears to the aggregate of the principal balances and accrued interest on all such
loans;
i.,
(iv) next, to pay any unpaid Asset Management Fee for the current year
and all prior fiscal years;
(v) next, to the payment of the Development Note;
(vi) next, to the Limited Partners, pro rata, in the proportion that the
Original Capital Investment of each of them bears to the Original Capital Investment of all of.
them until each of them has received for such fiscal year and all previous fiscal years an amount
of Cash From Sales and Cash From Other Sources in the aggregate equal to its Original Capital
Investment;
(vii) next, to the General Partners, 12IQ nllil, in the proportion that the
Original Capital investment of each of them bears to the Original Capital Investment of all of
them until each of them has received for such fiscal year and all previous fiscal years an amount
of Cash From Sales and Cash From Other Sources in the aggregate equal to its Original Capital
Investment;
(viii) and the balance, if any, 50% to the General Partners and 50% to
the Limited Partners.
\.
11.2.6. Title Insurance Proceeds shall be included in Cash From Sales.
11.2.7. For the purposes of Sections 11.2.4(i) and (ii) and 11.2.5(i) and (ii), Tax
Credits are allowed to the Partnership and the Limited Partners until the earlier of such time as a
Revenue Agent or other official of the Internal Revenue Service issues a report or a letter
proposing or determining that the Tax Credit be disallowed.
Should any such disallowance later be determined to be erroneous, in whole or in part,
then the Limited Partners receiving Distributions under Sections 11.2.4 or 11.2.5 of this
Agreement, shall, within ten (1 0) days after notice by the Partnership of such determination,
contribute to the capital of the Partnership 60.606% of the Distributions which they received
erroneously.. Such contributions will then be distributed by the Partnership in accordance with
their character when distributed to the Limited Partners and in the priority that exists in the year
they were re~ed to the Partnership as capital co.ntributions. If the amounts distributed consist
not only of Cash From Operations but also of Cash From Sales or Cash From Other Sources,
then the amounts returned shall be characte.rized in the proportions that the original Distributions
of each under Sections 11.2.4(i) and (ii) and 11.2.5(i) and (ii) bear to the total Distributions of all
distributions under those Sections.
11.2.8. When the Partnership is dissolved and wound-up pursuant to Section 19,
all items of income, gain, loss, credit and, deduction not previously allocated shall be allocated to
the Partners' Capital Accounts pursuant to Section 11.4. Then Distributions shall be made to the
Limited Partners and the General Partners in accordance with their respective Capital Account
23
0377095.07
," '-.
balances. All Distributions made under this Section 11.2.8 shall be made within the time period
prescribed in Section 1.704-1 (b )(2)(ii)(b )(2) of the Regulations.
i .
11.3 Allocation of Net Income, Net Loss, Depreciation Deductions, Tax Credits,
and Other Partnership Tax Items.
11.3.1. Before the Admission Date, all Net Income, Net Loss, Nonrecourse
Deductions, Tax Credits, and other Partnership tax items to that date shall be allocated one
percent to the General Partners and 99% to the Withdrawing Limited Partner. After the
Admission Date, Net Income, Net Loss, Nonrecourse Deductions, Tax Credits and other
Partnership tax items shall be allocated as set forth below beginning with Section'l1.3.2.
11.3.2. Net Income in any fiscal year not arising from the sale or refinancing of
Partnership property shall be allocated:
(i) first, 100% to the Limited Partners until the aggregate amount
allocated to the Limited Partners for such fiscal year and all previous fiscal years pursuant to this
Section 11.3.2(i) and Section 11.3.5(i) is equal to the amounts, if any, distributed to them
pursuant to Sections 11.2.4(i) and (ii) and Sections 11.2.5(i) and (ii) of this Agreement;
, (ii) next, 100% to the General Partners until the aggregate Net Income
allocated to it for such fiscal year and all previous fiscal years is equal to the aggregate of the Net
Losses allocated to the General Partners pursuant to Section 11.3.3(iii) for all previous fiscal
years;
(iii) next, 99.99% to the Limited Partners and .01 % to the General
Partners until the aggregate Net Income allocated to those Partners for such fiscal year and all
previous fiscal years is equal to the aggregate of the Net Losses and the Depreciation Deductions
allocated to those Partners pursuant to Section 11.3.3(ii) and Section 11.3.4 for all previous fiscal
years; and
(iv) the balance of such Net Income, if any, in each fiscal year shall be
allocated among the Partners in the priority and amounts of Distributions of Cash from
Operations paid to the Partners pursuant to Sections 11.2.4 so that the cumulative amount of such
Net Income so allocated will correspond, to the extent possible, with the cumulative amount of
Cash from Operations so paid.
11.3.3. Net Losses in any fiscal year not arising from the sale or refinancing of
Partnership property shall be allocated:
(i) first, to the Partners, until the aggregate amount of Net Losses
allocated to them for such fiscal year and all previous fiscal years is equal to the aggregate
amount of Net Income allocated to such Partners pursuant to Section 11.3.2(iv) for all previous
years and such allocatJon shall be made in the proportion that the aggregate amount of Net
Income allocated to each Partner under that, Section 11.3 .2(iv) bears to the aggregate amount of
Net Income allocated to all Partners under that Section 11.3 .2(iv);
24
0377095.07
('
,
(ii) next, 99.99% to the Limited Partners and .01% to the General
Partners until the Capital Account balances of the Limited Partners are reduced to zero; and
(iii) next, 100% to the General Partners.
11.3.4. Certain items of expense, deduction and credit shall be allocated specially
as follows:
(a) All cost recovery, depreciation, amortization" and similar deductions
relating to the Project, other than Nonrecourse Deductions, (the "Depreciation Deductions") shall
be allocated specially .01 % to the General Partners and 99.99% to the Limited Partners;
(b) All Tax Credits shall be allocated 99.99% to the Limited Partners and
.01 % to the General Partners;
(c) All Nonrecourse Deductions shall be allocated 99.99% to the Limited
Partners and .01 % to the General Partners; and
(d) All expenditures attributable to Tax Credit Litigation Expenses paid or
payable by the General Partners shall be allocated to the General Partners.
"
11.3.5. Net Income in each year arising from the sale or refinancing of Partnership
property in that year shall be allocated as follows:
( ,
.. "
"'-+, .
(i) first, 100% to the Limited Partners until the aggregate amount
allocated to the Limited Partners for such fiscal year and all prior fiscal years pursuant to this
Section 11.3.5(i) and Section 11.3.2(i) is equal to the amounts, if any, distributed to them
pursuant to Sections 11.2.4(i) and (ii) and Sections 11.2.5(i) and (ii).
(ii) next, 100% to the General Partners until the amount allocated to
the General Partners for such fiscal year and all previous fiscal years is sufficient to eliminate
any deficit in their Capital Account;
(iii) next, 100% to the Limited Partners until the Limited Partners'
Capital Account balances aggregate the amount of their Original Capital Investment;
(iv) next, 100% to the General Partners until the General Partners'
Capital Account balances aggregate the amount of their Original Capital Investment;
(v) the balance, if any, 50% to the General Partners and 50% to the
Limited Partners.
11.3.6. Net Loss in each year arising from the sale or refinancing of Partnership
property in that year shall be allocated as follows:
(i) first, 50% to the Limited Partners and 50% to the General Partners
until the aggregate amount of Net Losses allocated to them for such. fiscal year and all previous
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0377095.07
The General Partners shall not receive any Units for its contribution, but shall have an
interest in and be entitled to receive Net Income, Net Loss, Nonrecourse Deductions,
Depreciation Deductions, Distributions, Tax Credits, and other Partnership tax items of the
Partnership according to the provisions of Section 11 hereof.
The General Partners or Affiliates of the General Partners or anyone of them shall be
entitled to economic benefits in addition to that attributable to its Interest only as is provided in
Section 9 of this Partnership Agreement.
The General Partners shall, except as otherwise provided in this Partnership Agreement
or in the Act, have all the rights and powers and shall be subject to all the restrictions of a partner
in a partnership without limited partners.
Any Person dealing with the Partnership or the General Partners may rely upon a
certificate signed by the Managing General Partner as authority with respect to:
(i) the identity of the Partners or Unitholders hereof;
(ii) the existence or nonexistence of any fact or facts which constitute a
condition precedent to acts by the General Partners or any fact or facts which are in any other
manner germane to the affairs of the Partnership;
(iii) the Persons who are authorized to execute and deliver any instrument or
document of the Partnership; or
(iv) any act or failure to act by the Partnership or as to any other matter
whatsoever involving the Partnership or any Partner.
5.2 Negative Cash Flow Loans. The General Partners agree to make or cause to be
made those loans required to be made as Negative Cash Flow Loans as set out more fully in the
definition of Negative Cash Flow Loans.
5.3 Principal Place of Business. The principal place of business of the General
Partners is as set forth above.
5.4 Joint and Several Obligations. All obligations of the General Partners under
this Agreement and any other Transaction Document shall be joint and several.
5.5 Manner of Acting. Except for those decisions or actions specifically reserved to
the Managing General Partner herein, the General Partners shall act with unanimity in
discharging their duties and exercising their rights under this Agreement.
6. LIMITED PARTNERS
6.1 Withdrawing Partner. The Withdrawing Partner has contributed the sum of
$100.00 to the capital of the Partnership. After the Partnership admits the CDC pursuant to
15
0377095,07
/.'".....
fiscal years is equal to the aggregate amount of Net Income allocated to them under Section
11.3.5(v);
t....
(ii) next, 100% to the Limited Partners until the Limited Partners'
Capital Account balances are reduced to zero;
(iii) next, 100% to the General Partners until the General Partners'
Capital Account balances are reduced to zero; and
(iv) the balance, if any, 100% to the General Partners.
11.3.7. The following overriding special allocation rules shall apply for the
purposes of maintaining Capital Accounts notwithstanding anything to the contrary in this
Section 11.3:
(i) Regulatory Allocations. Notwithstanding any other provision of
this Section 11.3.7, all items of gross income and gain first shall be allocated in an amount and in
the manner that complies with the "minimum gain chargeback" requirement of the Regulations,
the "chargeback" requirement of the Regulations, and the "qualified income offset" requirement
of the Regulations, in that order.
..-'-
i "
\
'<,~...
(ii) Excess Loss Reallocation. If any allocation of Net Loss,
Nonrecourse Deductions, or Depreciation Deductions allocable to a Limited Partner: (a) would
reduce such Limited Partner's Capital Account balance below zero; or (b) would increase the
negative balance in such Limited Partner's Capital Account at a time when another Limited
Partner has a positive Capital Account balance, then to the extent such allocation would cause the
negative Capital Account balance of such Limited Partner (determined after taking into account
all adjustments set out in subsection (vii) below) to exceed such Limited Partner's share of
Partnership Minimum Gain at the close of the taxable year in respect of which the Net Loss or
Nonrecourse Deductions, or Depreciation Deductions as the case may be, is to be allocated, then
such excess shall be reallocated.
Such excess shall be reallocated: (x) first, in the case of Net Loss, pro rata to all Limited
Partners having positive Capital Account balances to the extent of and in proportion to their
respective Capital Account balances until such Capital Account balances are reduced to zero; and
(y) second, in the case of Nonrecourse Deductions, and Depreciation Deductions, pro rata to all
Limited Partners having positive Capital Account balances to the extent of and in proportion to
their respective Capital Account balances until such Capital Account balances are reduced to
zero. In the event that there are no .Limited Partners with positive balances in their Capital
Accounts, such Net Loss, Nonrecourse Deductions, and Depreciation peductions shall instead be
allocated to the General Partners.
(iii) Gross Income Allocation. In the event any Limited Partner has a
deficit Capital Account at the end of any Partnership fiscal year that is in excess of the amount
the Limited Partner is obligated to restore under this Agreement or is deemed obligated to restore
under the Regulations (including, without limitation, the amount he would be deemed obligated
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to restore if Partner Non Recourse Deductions were treated as Nonrecourse Deductions), the
Limited Partner will be allocated specially items of gross income or gain as quickly as possible
in order to eliminate that deficit, provided that allocations pursuant to this subparagraph shall be
made after all other allocations have been made as if this subparagraph and the qualified income
offset were not in this Agreement.
(iv) Allocations to the General Partners. Subject only to Sections
l1.3.7(i) through (iii), in no event shall the General Partners be allocated less than 1 % of each
item of Partnership income, gain, loss, credit, deduction and other items.
(v) Allocations Upon Recharacterization of Compensation. If the
taxing authorities ignore the characterization of the amounts, if any, paid to a General Partner's
Affiliates as compensation, and refuse to treat such payments as either "guaranteed payments"
within the meaning of Section 707( c) of the Code, or payments made to a General Partner other
than in its capacity as a partner within the meaning of Section 707(a) of the Code, and, as a
result, such payments reduce a General Partner's Capital Account, then that General Partner shall
be allocated the first available gross income of the Partnership in an amount equal to the amount
of the reduction.
(vi) Section 704(c) Allocations. In cases where Partnership property is,
under the Regulations, properly reflected in the Capital Accounts of the Partners at a fair market
value that differs from the adjusted tax basis of such property (such difference being called the
"Book Disparity"), then, for purposes of maintaining the Partners' Capital Accounts, the
Partnership shall compute depreciation, amortization, gain or loss with respect to all Partnership
property for which there is a Book Disparity in accordance with the Regulations. Any allocation
of income or loss (or item thereof) which is required to be allocated among the Partners to take in
account the Book Disparity (e.g., allocations under Section 704(c) of the Code for contributed
property) shall be allocated for income tax purposes among the Partners in accordance with the
Regulations. '
(vii) Capital Account Adjustments. For purposes of determining the
balances in the Partners' Capital Accounts with respect to items (ii) and (iii) of this subsection
11.3.7, such Capital Accounts shall be: (a) reduced by Distributions made prior to and
contemporaneous with any allocation (including Distributions made after the end of the taxable
year with respect to the last quarter of such taxable year); (b) reduced at the end of each
Partnership taxable year by such Partner's qualified income offset items in accordance with the
Regulations; (c) increased to the extent that a Partner is treated as obligated to restore a deficit
balance in such Partner's Capital Account upon liquidation as provided under the Regulations;
and (d) increased to the extent of such Partner's distributive share of the Partnership's Minimum
Gain which that Partner is treated as obligated to restore pursuant to the Regulations.
11.4 Capital Accounts.
11.4.1. A separate Capital Account shall be established, maintained and adjusted
throughout the term of this Agreement for each Partner in accordance with the Regulations. A
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, transferee of Units shall succeed to the Capital Account relating to the Units transferred except to
the extent provided in the Regulations.
11.4.2. The provisions of this Partnership Agreement relating to the maintenance
of Capital Accounts are intended to comply with the Regulations, and shall be interpreted and
applied in a manner consistent with the Regulations. If any provision of this Partnership
Agreement is inconsistent with the Regulations, the Regulations (as the same may be amended or
revised hereafter) shall control.
11.5 General Partners' Contribution to Capital. Upon a "liquidation" of the
Partnership within the meaning of the Regulations and after the application of Sections 11.2 and
11.3 for all taxable years of the Partnership, including the year in which such "liquidation"
occurs, or upon any General Partner ceasing to serve as a general partner, then to the extent that a
General Partner has a deficit Capital Account, then that General Partner shall contribute cash to
the Partnership in an amount equal to its deficit Capital Account within the time period
prescribed by the Regulations which shall be distributed in accordance with the Regulations.
11.6 Substantial Economic Effect. It is intended that: (i) the allocations set forth in
Section 11.3 shall result in the Capital Accounts of the Partners equaling zero following the
Distributions provided for in Section 11.2 of this Agreement; and (ii) the allocations set forth in
Section 11.3 constitute allocations that have "substantial economic effect" within the meaning of
Section 704(b) of the Code and the Regulations. The provisions of Section 11.3 of this
Partnership Agreement allocating items of income, credit, loss, gain and deduction, shall be
construed by the General Partners to achieve these results consistent with the payment of the
Distributions provided for herein.
11.7 Withholding. The Managing General Partner may withhold income taxes from
Distributions and compensation payments as required by, and otherwise comply with and take
actions necessary as a result of, provisions of the Code, Regulations, or any other federal or state
tax law requiring withholding. The Managing General Partner shall treat such withholdings of
taxes from Distributions as a Distribution. Such a Distribution shall reduce the amount of any
other Distribution payable by the Partnership to the Partners subject to the withholding.
12. ASSIGNMENT OF UNITS
12.1 Assignment of Units.
12.1.1. Subject to the restrictions set out below, Limited Partners shall have the
right to Transfer one or more whole, Units to a Taxable Investor by a duly executed, written
instrument of assignment in form satisfactory to the Managing General Partner, the terms of
which are not in contravention of any of the provisions of this Partnership Agreement.
A Limited . Partner shall notify the Managing General Partner of any assignment' of a
beneficial interest in any Units which occurs without a Transfer of record ownership within thirty
days after any such assignment.
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12.1.2. The effective date of a Transfer of Units and the date on which an
Assignee shall be recognized as an Assignee of Record shall be the first day of the month
following the later of (i) the date set forth on the written instrument of assignment; or (ii) the date
that the Managing General Partner receives written notice of assignment.
12.2 Rights of Assignee of Record. An Assignee of Units shall be entitled to receive
allocations of Tax Credit, Net Income, Net Loss, Nonrecourse Deductions, other Partnership tax
items, and Distributions from the Partnership attributable to such Units from and after the
effective date of the Transfer of such Units; provided, however, that anything herein to the
contrary notwithstanding, the Partnership and the General Partners shall be entitled to treat the
assignor of such Units as the absolute owner thereof in all respects, and shall incur no liability for
allocations of Tax Credits, Net Income, Net Loss, Nonrecourse Deductions, other Partnership tax
items or the payment of Distributions, or transmittal of reports and notices required to be given to
Limited Partners hereunder which are made in good faith to such assignor until such time as the
written instrument of assignment has been received by the Partnership and recorded on its books
and the effective date of the assignment has passed.
Tax Credits, Net Income, Net Loss, Nonrecourse Deductions, other Partnership tax items,
and Distributions will be allocated between the assignor and the Assignee of Record as provided
under Section 11.1 hereof. The assigning Limited Partner shall nevertheless remain a Limited
Partner and continue to have all obligations of the Limited Partner set forth herein unless and
until all of the provisions of this Section 12 and Section 13 of this Partnership Agreement are
satisfied.
12.3 Aggregate Transfer Limitations. A Limited Partner may assign his Units to any
Affiliate at any time without the consent of any General Partners and to any other person without
such consent if, at the time of the assignment, the aggregate number of Limited Partners and .'
assignees does not exceed ten. If there is more than one Limited Partner, then a Limited _Partner
may not Transfer his Units if such Transfer would result in a termination of the Partnership for
federal income tax purposes unless a Majority Vote of Limited Partners who are not transferring
their Units approve such action.
12.4 Governmental Restrictions. No assignment, sale, Transfer, exchange or other
disposition of any Units or other interest in the Partnership may be made except in compliance
with the applicable securities laws and rules of all governrnental authorities (including suitability
requirements). Compliance shall be presumed if the transferee presents an opinion of counsel,
acceptable to the Managing General Partner, that the transfer is in compliance with or exempt
from such laws and rules.
12.5 Ineffective Transfers. Any assignment, sale, exchange or other Transfer in
contravention of any of the provisions of this Section 12 shall be void and deemed ineffectual,
and shall not bind or be recognized by the Partnership.
12.6 Additional Restriction on Transfers. No Transfer shall be allowed or registered
for Persons who are Foreign Investors or Tax Exempt Investors and the Managing General
Partner may require proof of United States citizenship or organization as a condition precedent to
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".,,~ .
any Transfer. Any transfers shall be at the sole expense of the transferee or transferor and not at
the expense of the Partnership or the General Partners and shall be without liability to the
General Partners.
\.
13. SUBSTITUTE LIMITED PARTNERS
13.1 Substitute Limited Partners. An Assignee of Record shall have the right to
become a Substitute Limited Partner in place of an assignor if all of the following conditions are
first satisfied:
13.1.1. The provisions of Section 12 of this Partnership Agreement shall have
been satisfied;
13 .1.2~ The instrument of assignment sets forth the intention of the assignor that
the Assignee succeed to the assignor's interest as a Substitute Limited Partner;
13.1.3. The assignor and assignee shall have executed and acknowledged such
other instruments as the Managing General Partner may deem necessary or desirable to effect
such substitution, including the written acceptance and adoption by the assignee of the provisions
of this Partnership Agreement, as the same may be amended from time to time, and the
execution, acknowledgment and delivery to the Managing General Partner of a special power of
attorney, the form and content of which are described in Section 20; and
i,,_, 13.1.4. A Transfer fee sufficient to cover all expenses incurred in connection with
such Transfer and substitution (not to exceed $500) shall be paid to the Partnership.
13.2 Amendments of Partnership Agreement - Admission of Substitute Limited
Partners. If the other conditions of this Section 13 have been met, then the Managing General
Partner shall cause the Partnership Agreement to be amended from time to time to reflect the
substitution of Limited Partners, if any, at least once in each calendar month to the extent the
Managing General Partner deems such amendments necessary to admit such Partners.
14. BOOKS, RECORDS, ACCOUNTING AND REPORTS
14.1 Maintenance of Books and Records. The Partnership's books and records, and
all books, documents, contracts, and records relating to the acquisition, development,
construction, operation and disposition of the Project, the Partnership Agreement and all
amendments thereto, the Certificate and any amendmen~s to the Certificate, and copies of
appraisals of Partnership properties shall be maintained at the principal office of the Partnership
and such other place as the Managing General Partner may determine, and shall be open to
inspection and examination by Limited Partners or their duly authorized representatives at all
reasonable times for any purpose reasonably related to such Limited Partner's Interest.
, .
Upon request, for any purpose reasonably related to such Limited Partner's Interest, a
Limited Partner will be provided, at the Limited Partner's expense, with a copy of part or all of
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the books and records of the Partnership if such copies are requested for any purpose reasonably
related to such Limited Partner's Interest.
All documents relating to the acquisition and development of. the Partnership's property
will be retained in the Partnership's records for a period of at least seven years following the date
of acquisition of that property and ~ll be available for inspection and examination, or for
duplication, subject to payment of the reasonable expense thereof, by any Limited Partner for any
purpose reasonably related to such Limited Partner's interest in the Partnership.
14.2 Financial Statements/Annual Reports. The Partnership's books shall be kept in
accordance with the provisions of Section 704(b) of the Code. Nevertheless, the Managing
General Partner shall cause to be prepared at least once annually at Partnership expense by
memorandum entries, in accordance with generally accepted" accounting principles ("GAAP")
and accompanied by an auditor's report containing an opinion of such independent certified
public accoUntants as shall be selected by the Managing General Partner and approved by the
Limited Partners:
14.2.1. a balance sheet as of the end of the Partnership's fiscal year, and
statements of income, cash flow and partners' equity each with footnotes and memorandum
entries as necessary to reconcile the Partnership's 704(b) accounting with GAAP accounting;
t
\"
14.2.2. Partnership information necessary in the preparation of the Limited
Partners' state and federal income tax returns;
14.2.3. In addition, the Managing General Partner shall provide, at its expense:
(i) a report of the activities of the Partnership;
(ii) a statement certified by it as to the compensation received by the
General Partners and their,Affiliates during the year from the Partriership, which statement shall
set forth the services rendered and the amount of fees received; and
(iii) a statement certified by it setting the status of: (a) the Working
Capital and Replacement Reserves, (b) any Negative Cash Flow and Partner Loans and
(c) current and cumulative Distributions to the Partners, which report shall identify the total
amount of, and Distributions from: (i) Cash From Operations; (ii) Cash From Sales; and
(iii) Cash From Other Sources.
Copies of such financial statements and other reports shall be distributed to each Limited
Partner within 90 days after the close of each fiscal year of the Partnership; provided, however,
that all Partnership information necessary-in the preparation of the Limited Partners' state and
federal income tax returns shall be di~tributed to each Limited Partner within 75 days after the
close of each fiscal year of the Partnership.
14.3 Monthly and Quarterly Reports. The Managing General Partner shall cause the
Management Company to mail monthly and quarterly operational reports to all of the Partners at
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the Management Company's expense, all as provided more fully in the Management Agreement.
Operational reports shall include but not be limited to vacancy and traffic reports, financial
statements, and rent rolls. The Managing General Partner shall furnish to the Partners within 45
days of the end of each calendar quarter a. statement of cash flows, income and expense,
Distributions and a balance sheet for that calendar quarter.
14.4 Income Tax Returns. The Managing General Partner, at Partnership expense,
shall cause income tax returns to be prepared for the Partnership and shall further cause such
returns to be timely filed with appropriate authorities.
14.5 Filing With Governmental Authorities. The Managing General PaItner, at
Partnership expense, shall cause to be prepared and timely filed, with appropriate federal and
state regulatory and administrative bodies, all reports, if any, required to be filed with such
entities under then current applicable laws, rules and regulations. Such reports shall be prepared
on the accounting or reporting basis required by such regulatory bodies. Each Limited Partner
shall be mailed a copy of any such filed report.
14.6 Sellers' Financial Statements. Each of the Sellers agrees to furnish to the Bank
in each year on or before' the Partnership's annual financial statements are required to be
furnished, a balance sheet and income statement as of the end of the Partnership's fiscal year,
which need not be audited but which shall be certified as true by the Seller furnishing the
statement and such other financial information as the Limited Partners may reasonably request.
In addition, each Seller shall furnish to the Bank any annual financial statements for the fiscal
year-end of that Seller prepared in the course of that Seller's business.
14.7 Payment by Sellers of Damages for Failure to Provide Timely Reports. The
Developer and the General Partners shall not be entitled to receive any principal or interest due
them on any obligation or note or any fees due them by the Partnership, any expense
reimbursement due them, or Distributions due them in any year until all of the reports, tax
returns, financial statements, and other information required by this Article have been furnished
by the Managing General Partner and' each Seller for the year to which such payments,
reimbursements, fees, or Distributions relate.
In: addition, the Managing General Partner shall pay to the Limited Partners the sum of
$250 per day for each day after March 15 that the Partnership's tax return has not been delivered
to the Bank for its review and approval, $250 per day for each day after April 1 that the
Partnership's tax returns for the prior year remain unfiled, and $250 per day for each day after
April 1 that the Partnership's audited financial statements remain undelivered but in no event
more than $250 per day in the aggregate for all types of late submissions.
15. RIGHTS, AUTHORITY, POWERS, RESPONSIBILITIES, DUTIES, AND
SERVICES OF THE GENERAL PARTNERS
15.1 Services to be Provided and Responsibilities. Each of the General Partners
agrees to serve as a general partner of the Partnership for the entire period of the Partnership's
term.
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The Managing General Partner shall provide the following services to the Partnership
without compensation and reimbursement except as set forth in Sections 9 and 10 of this
Agreement:
15.1.1. supervise the organization of the Partnership and the offering and sale of
the Units;
15.1.2. arrange for and supervise the development and operation ofthe Project;
15.1.3. manage the Partnership, which includes: (i) establishing policies for the
operation of the Partnership; (ii) causing the Partnership's agents or employees to arrange for the
provision of services necessary to the operation of the Partnership (including, without limitation,
property management, investor, accounting and legal. services and services relating to
Distributions by the Partnership); (iii) when necessary or appropriate, approving actions to be
taken by the Partnership; (iv) providing advice, consultation, analysis and supervision with
respect to the functions of the Partnership as an owner of the Project (including, without
limitation, decisions regarding the terms and conditions of leases affecting Partnership
properties, decisions regarding material adjustments to rental schedules, the sale or disposition of
Partnership properties and compliance with federal, state and local regulatory requirements and
procedures); (v) executing documents on behalf of the Partnership; and (vi) making all decisions
as to accounting matters;
(
15.1.4. subject to an approving Majority Vote, approve the terms of any
borrowings and the sale or disposition of Partnership properties, including establishing the terms
for and arranging such transaction.
15.2 Rights and Powers of the Managing General Partner. Subject to the
restrictions set out in Section 15.4 hereof, the Managing General Partner shall have all authority,
rights, and powers conferred by law and those required or appropriate to the management of the
Partnership business which, by way of illustration but not by way of limitation, shall, include the
right, authority, and power to cause the Partnership:
15.2.1. To cause Certificates of Limited Partnership, fictitious business name
statements and other documents in connection with the organization of the Partnership to be filed
as required by applicable law;
15.2.2. To acquire, hold and dispose of real property, interests therein or
appurtenances thereto, as well as personal or mixed property connected therewith, including the.
purchase, lease, improvement, maintenance, exchange, trade or sale of such properties, at such
price, rental or amount, for cash, securities or other property, and upon terms, as the Managing
General Partner deems to be in the best interests of the Partnership;
15.2.3. To borrow money and, if security is required therefor, to mortgage or
subject any Partnership investment to any deed to secure debt or other security device, to obtain
replacements of any deed to secure debt or other security device, and to prepay, in whole or in
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part, refinance; increase, modify, consolidate, or extend any deed to secure debt or other security
device;
15.2.4. To acquire and enter into any contract of insurance which the Managing
General Partner deems necessary or appropriate for the protection of the Partnership and the
General Partners, for the conservation of Partnership assets, or for any purpose convenient or
beneficial to the Partnership;
15.2.5. To lend, or cause its Affiliates to lend, money to the Partnership;
15.2.6. To employ Persons in the operation and management of the business of
the Partnership including, but not limited to insurance brokers, real estate brokers and loan
brokers, on such terms and for such compensation as the Managing General Partner shall
determine, subject, however, to the limitations with respect thereto set forth in this Partnership
Agreement regarding compensation to the General Partners and Affiliates;
15.2.7. To prepare or cause to be prepared reports, statements and other relevant
information for distribution to Limited Partners;
15.2.8. To open accounts and deposits and maintain funds in the name of the
Partnership in the Bank, provided, however, that the Partnership's funds shall not be commingled
with the funds of any other Person;
!\,
15.2.9. To cause the Partnership to make or revoke any and all elections required
or permitted to be made or revoked by a Partnership under the Code, except the election
permitted by Section 168(g)(7) of the Code to depreciate its nonresidential real property and
residential rental property placed in service during any taxable year under the alternative
depreciation system, as defined in Section 168(g) of the Code may not be altered or revoked
without a Majority Vote;
15.2.10. Should the IRS recast payments to a General Partner or any of its
Affiliates as Distributions rather than as compensation, to allocate to that General Partner income
pursuant to Section 11;
15.2.11. To require in all Partnership contracts (other than the Acquisition Bridge
Loan and the Equity Bridge Loan) that the Managing General Partner shall not have any personal
liability thereon (other than its Interest in the Partnership) and that the Person or entity
contracting with the Partnership is to look solely to the Partnership and its assets for satisfaction;
15.2.12. As Tax Matters Partner, to represent the Partnership before any office of
the IRS with respect to income tax matters regarding the Partnership and to appoint an attorney-
in-fact to represent the Partnership before any office of the IRS;
15.2.13. To invest Partnership funds in Short-Term Investments;
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:'
15.2.14. To amend this Partnership Agreement and, as necessary, the
Partnership's Certificate without the consent or vote of any of the Limited Partners in order to:
;
"
(i) to reflect the addition or substitution of a Limited Partner or the
reduction of the Capital Accounts upon the return of capital to Partners;
(ii) to add to the representations, duties or obligations of the General
Partners or their Affiliates or surrender any right or power granted to the General Partners or
their Affiliates herein, for the benefit of the Limited Partners;
(iii) to appoint a different Tax Matters Partner;
(iv) to revise the provisions of Section 11 of this Partnership
Agreement to better ensure that the allocations of income, gain, loss or deduction will be
respected for federal income tax purposes; provided, however, that any such revision shall not
reduce Distributions to the Limited Partners or impose an obligation upon them to restore a
negative Capital Account and shall be consistent, to the extent possible, with the allocations set
forth in Section 11 immediately prior to such amendment;.
(v) to take any such steps as the Managing General Partner deems
necessary or advisable (including amending the Partnership Agreement in connection therewith)
to preserve the status of the Partnership as an entity which is not taxable as a corporation for
federal income tax purposes including without limitation, to take such action with respect to the
manner in which Units are being or may be transferred or traded including the imposition of
additional restrictions on the Transfer of Units pursuant to Section 12;
(vi) to conform the Partnership's conventions under Section 11 for:
(a) allocating Net Income, Net Loss, Nonrecourse Deductions and any special allocations of
gross income pursuant to Section 11 between transferors or transferees of Units to Regulations or
rulings promulgated by the IRS under Section 704 of the Code; and (b) determining the Persons
recognized as Unitholders entitled to Distributions;
(vii) to conform the manner in which Capital Accounts, or any debits or
credits thereto, are computed or maintained in order to comply with the Regulations (as the same
may be amended or revised); however, in no event shall such modification be made by the
Managing General Partner if the modifications by the Managing General Partner would require
contributions by the Limited Partners to restore negative Capital Accounts;
(viii) as long as such action shall not adversely affect the Limited
Partners, to amend this Agreement to reflect any changes adopted by the General Partners
pursuant to Section 11;
(ix) to enable the Limited Partners to take advantage of new tax
benefits or to avoid tax detriments for any existing or prospective Limited Partner or to modify
or remove existing limitations on the transfer of Units as a result of new legislation, Regulations,
and/or judicial or administrative interpretations of the law;
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(x) to admit a transferee or successor General Partner but only In
accordance with Section 17.2.
15.2.15. To reinvest Cash From Sales and Cash From Other Sources for capital
improvement of, or for o'ther expenditures relating to, the Project; and
15.2.16. To execute, acknowledge and deliver any and all instruments to
effectuate the foregoing, including the granting of powers of attorney, and to take all such action
in connection therewith as the Managing General Partner shall deem necessary or appropriate.
15.3 Third Parties May Rely on Certificate. With respect to any acquisition or
purchase of a Partnership property and any sale, disposition, financing or refinancing of a
Partnership property, all Persons dealing with the Partnership shall be entitled torely upon a
certificate executed on behalf of the Partnership by the Managing General Partner as to the
approval of such acquisition or purchase or sale, disposition, financing or refinancing, and as to
the authority of the Managing General Partner to act on behalf of the Partnership.
15.4 Restrictions. Unless prior approval by a Majority Vote is obtained, or as
otherwise specifically described in this Agreement, neither the General Partners nor any Affiliate
of the General Partners shall have the authority to:
15.4.1. Enter into contracts with a General Partner or its Affiliates that would bind
the Partnership after an Event of Withdrawal of that General Partner;
15.4.2. Grant to itself or any Affiliate any listing for the sale of Partnership assets,
including Partnership properties;
15.4.3. Sell all or a substantial portion of the assets of the Partnership in a single
sale or in multiple sales pursuant to the same plan;
15.4.4. Alter the primary purposes of the Partnership as set forth in Section 3 of
this Partnership Agreement;
15.4.5. Receive from the Partnership a rebate or give-up or participate in any
reciprocal business arrangements that would enable it or an Affiliate to receive a rebate or give-
up;
15.4.6. Cause the Partnership to purchase real property from, sell real property to,
or enter into real property exchange agreements or leases (either as lessor or lessee) with a
General Partner or its Affiliates;
15.4.7. Invest Partnership assets In real or personal property other than the
Project;
15.4.8. Cause the Partnership to purchase or otherwise acquire any real property
other than the Project;
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c
15.4.9. Cause the Partnership to exchange Units for real property other than the
Project;
15.4.10. Cause the Partnership to deposit monies In, or acquire certificate of
deposits from, any bank other than the Bank;
15.4.11. Cause the Partnership to incur indebtedness secured by Partnership
properties other than the Permanent Loans or a Partner Loan;
15.4.12. Cause the Partnership to refinance a Permanent Loan;
15.4.13. Do any act which would make it impossible to carry on the ordinary
business of the Partnership in contravention of the Certificate of Limited Partnership or of this
Partnership Agreement;
15.4.14. Confess a judgment against the Partnership in excess of $5,000 or seek
or agree to a receivership or make an assignment to benefit creditors;
15.4.15. Possess any Partnership property or assign the rights of the Partnership
in specific Partnership property for other than a Partnership purpose;
15.4.16. Admit a Person as a General Partner;
c,
15.4.17. Receive any insurance brokerage fee or write any Insurance policy
covering the Partnership or any of the Partnership properties;
15.4.18. Cause, the Partnership to enter into any transaction with any other
partnership in which a GeneralPartner or any Affiliates have an interest involving the sale, lease
or purchase of any property to or from the Partnership or the lending of any monies or other
property to or from the Partnership;
15.4.19. Perform any act (other than an act required by this Partnership
Agreement or any act taken in good faith in reliance upon counsel's opinion) which would, at the
time such act occurred, subject any Limited Partner to liability as a general partner in any
jurisdiction;
15.4.20. Cause the Partnership to loan Partnership funds to any Partner or its
Affiliates;
15.4.21. Except as specifically described in this Partnership Agreement, receive
compensation or fees from the Partnership.
15.4.22. Reinvest Cash From Operations in additional Partnership properties;
15.4.23. Dissolve the Partnership or cause it to file for bankruptcy or seek other
federal or state protection from creditors;
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"
i
\
15.4.24. Invest Partnership assets In limited partnership interests of other
ventures;
15.4.25. Commingle Partnership funds with the funds of any other Person;
15.4.26. Acquire property with Partnership assets from any organization in which
a General Partner or its Affiliates has an interest;
15.4.27. Cause the Partnership to invest in junior deeds to secure debt, and other
similar obligations, except for junior deeds to secure debt which arise from the sale of the
Project;
15.4.28. Reinvest Cash From Sales in additional Partnership properties except to
the extent said Cash From Sales are used in the capital improvement of, or for other expenditures
relating to, the Project;
15.4.29. Amend the Partnership Agreement so as to: (i) convert a Limited Partner
into a general partner; (ii) modify the limited liability of a Limited Partner, or (iii) affect the
status of the Partnership as a partnership for federal income tax purposes;
15.4.30. Cease to serve as a General Partner;
15.4.31. Issue Units in addition to those issued to the CDC; or
.'.,~"
15.4.32. Maintain deposit or checking accounts at any financial institution other
than the Bank.
15.5. Notice of Limitation on Liability. Each General Partner shall use its best efforts,
in the conduct of the Partnership's business, to put all suppliers and other Persons with whom the
Partnership does business on notice that the Limited Partners are not liable for Partnership
obligations and all agreements to which the Partnership is a party shall include a statement to the
effect that the Partnership is a limited partnership organized under the Act; but a General Partner
shall not be liable to the Limited Partners for any failure to give such notice to such suppliers or
other Persons.
15.6 Notice of Withdrawal of General Partner. A General Partner shall promptly
send written notice of its withdrawal to the Limited Partners whether or not such withdrawal is
permitted by the terms of this Agreement.
15.7 Net Worth. The General Partners shall at all times maintain an aggregate net
worth equal to $100,000.
15.8 Termination of Management Company. The General Partners acknowledge
and agree that the Limited Partners, by Majority Vote, shall have the authority to exercise on
behalf of the Partnership the Partnership's rights under the Management Agreement, including,
without limitation, the right to terminate the Management Company in accordance with the terms
of the Management Agreement. Upon receipt of notice from CDC (or its successor in interest)
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directing the Managing General Partner to terminate the Management Agreement, the Managing
General Partner shall cause the Management Agreement to be terminated.
15.9 Specific Authority of Managing General Partner to Close Acquisition of the
Property. Notwithstanding any other provisions of this Agreement, the Managing General
Partner is hereby authorized to execute all documents and take such actions as the Managing
General Partner shall deem necessary or prudent to enable the Partnership to acquire the Project
and to close the Acquisition Bridge Loan, the Equity Bridge Loan and the Permanent Loans.
16. RIGHTS AND POWERS OF THE LIMITED PARTNERS
16.1 Actions By Majority Vote Without General Partner Approval. The Limited
Partners shall have the right, by Majority Vote, to cause the Partnership to take the following
actions without the approval of any General Partner:
16.1.1. to remove a General Partner pursuant to Section 17.1;
16.1.2. to dissolve and wind-up the Partnership;
16.1.3. to sell the Project or all or any portion of the assets of the Partnership;
16.1.4. to continue the business of the Partnership under the circumstances
contemplated by Section 19.1 of this Partnership Agreement;
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16.1.5. to enforce of the Partnership's right to obtain Negative Cash Flow Loans
from a General Partner;
16.1.6. to enforce any other rights of the Partnership against a General Partner or
any Affiliate of a General Partner or one or more of the foregoing;
16.1.7. to terminate the Management Agreement if such termination does not
cause the Partnership to be in default under that Agreement;
16.1.8. to elect to continue the business of the Partnership after a General Partner
ceases to be a General Partner where there is no remaining or surviving General Partner;
16.1.9. in the event the Managing Partner defaults with respect to any of its
material obligations hereunder, to add as a co-general partner any Affiliate of the CDC and to
amend this Agreement to provide that such Person is admitted, can exercise all rights of the
General Partner, and that the co-general partners will act by unanimous consent;
16.1.10. if TCG Developers of Georgia, Inc. suffers an event of Withdrawal at a
time when White Oak Olde Town, Inc. is the Managing General Partner, to add a new co-general
partner to replace TCG Developers of Georgia, Inc. as the non-managing General Partner.
In the event that the Limited Partners unilaterally dissolve the Partnership
pursuant to Section 16.1.2 above, or unilaterally cause the sale of the Project pursuant to Section
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16.1.3 above, the Sellers shall not be responsible for any resulting recapture of Tax Credits
resulting from such action by the Limited Partners. Moreover, prior to any sale of the Project in
connection with the dissolution of the Partnership pursuant to Section 16.1.2 or pursuant to
Section 16.1.3, the Limited Partners shall give written notice (the "First Refusal Notice") of the
proposed sale to the Managing General Partner. The First Refusal Notice shall set forth the
material terms upon which the Limited Partners propose to sell the Project (the "Sale Terms").
The Managing General Partner shall have the right, for a period of thirty (30) days after receipt
of the First Refusal Notice, to elect to purchase the Project upon the Terms set forth in the First
Refusal Notice. If the Managing General Partner elects to purchase the Project, it must do so by
delivering notice of its election to purchase the Project to the Limited Partners within such thirty
(30) day period. Unless otherwise agreed by the Managing General Partner and the Limited
Partners, the closing of the purchase of the Project shall be held at the law offices of the law firm
of Morris, Manning & Martin, L.L.P. not later than the first business day which is sixty (60) days
following delivery of the First Refusal Notice. If the Managing General Partner fails to elect to
purchase the Project or fails to close the acquisition of the Project after electing to purchase the
Project, the Limited Partners may proceed to sell the Project, provided such sale is for a purchase
price equal to at least 95% of the purchase price set forth in the First Refusal Notice and is
otherwise on substantially the same terms as set forth in the First Refusal Notice, and provided
further that if a sale pursuant to Section 16.1.3 is not closed within 210 days of the date of the
First Refusal Notice, any subsequent sale pursuant to Section 16.1.3 shall once again be subject
to the First Refusal Notice requirements of this paragraph.
( 16.2 Actions by Majority Vote With General Partners' Approval. The approval of
the Limited Partners by Majority Vote and the approval of the General Partners shall be required
for each of the following:
16.2.1. Except as provided In Section 16.1.9, the admission of an additional
General Partner; and
16.2.2. An alteration in the Partnership's purpose as set out in Section 3 hereof.
16.3 Actions by Unanimous Consent. The unanimous approval of the Limited
Partners shall be required for each of the following:
16.3.1. Any amendment of this Partnership Agreement that would reduce any
Limited Partner's Interest in the Partnership in relation to the Interest held by another Limited
Partner; and
16.3.2. Any action that would cause the Limited Partners to lose their limited
liability under the Act.
16.4 Meetings. The Managing General Partner may at any time call a meeting of the
Limited Partners or call for a vote of the Limited Partners, without a meeting, on matters on
which they are entitled to vote, and shall call for such meeting or vote following receipt of
written request therefor of Limited Partners holding 10% or more of the Units held by all
Limited Partners as of the date of receipt of such written request (the "Notice Date.")
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The Managing General Partner shall provide written notice (given either in person or by
certified mail) of the meeting, to all Limited Partners within 10 days of the Notice Date (or such
longer period as may be required to comply with any applicable law or regulation governing the
holding of meetings or solicitation of proxies). The meeting will be held on a date not less than
15 nor more than 60 days after the Notice Date at a time and place convenient to the Limited
Partners. Included with the notice shall be a detailed statement of the action proposed, including
a verbatim statement of the wording of any resolution proposed for adoption by the Limited
Partners and of any proposed amendment to the Partnership Agreement. If no such meeting has
been called, the Managing General Partner shall notify all Limited Partners of the matter or
matters to be voted upon and the date upon which the votes will be counted (regardless of
whether the Managing General Partner has called for such meeting or vote upon the request of
Limited Partners or has initiated such event without such request).
The Partnership will provide for proxies or written consents which specify a choice
between approval and disapproval of each matter to be acted upon at the meeting. A majority in
interest of the Limited Partners entitled to vote on the action to be taken, represented in person or
by proxy, shall constitute a quorum at a meeting of the Limited Partners. All expenses of the
voting and notification shall be borne by the Partnership. The matters approved at such meeting
shall be effective as of the close of the meeting unless otherwise specified in the statement of the
proposed action.
16.5 Voting Procedures.
16.5.1. A Limited Partner shall be entitled to cast one vote for each Unit that he
owns in the following manner: (i) at a meeting of Limited Partners, in person, by written proxy
or by a signed writing directing the manner in which votes be cast, which writing must be
received by the Managing General Partner prior to the meeting, or (ii) without a meeting, by a
signed writing directing the manner in which votes be cast, which writing must be received by
the Managing General Partner prior to the date upon which the votes are to be counted. Only the
votes of Limited Partners of record on the Notice Date, whether at a meeting or otherwise, shall
be counted.
The General Partners shall not be entitled to vote as a general partner except in a vote
held to consider the merger of the Partnership in accordance with the Act. The laws, rules and
regulations of the State of Georgia pertaining to the validity and use of corporate proxies shall
govern the validity and use of proxies given by Limited Partners.
16.5.2. Any action that may be taken at a meeting of the Limited Partners may be
taken without a meeting if the Limited Partners approve in a writing setting forth the action to be
taken that is signed by Limited Partners owning not less than the minimum percentage of
Interests that would be necessary to authorize or take such action at a meeting in which all the
Limited Partners were present and voted.
, The Managing General Partner may specify that any written ballots submitted to Limited
Partners for the purpose of taking any action without a meeting shall be returned to the
Partnership within the time, not less than 20 days, specified by the Managing General Partner. If
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a ballot returned to the Partnership does not vote all of the Units held by the Limited Partner, the
Partnership shall be deemed to have failed to receive a ballot for the Units which were not voted.
If approval to the taking of any action by the Limited Partners is solicited by any Person
other than by or on behalf of the Managing General Partner, the written approval shall have no
force and effect unless and until: (i) it is deposited with the Partnership in care of the Managing
General Partner; and (ii) approvals sufficient to take the action proposed are dated as of the date
not more than 90 days prior to the date the approvals were deposited with the Partnership. If
Limited Partners are requested to approve a matter without a meeting, each Limited Partner shall
be given notice of the matter to be voted upon in the same manner as described in this Section
16.
If the Managing General Partner or Limited Partners representing more than 10% of the
Interests of the Limited Partners request a meeting for the purpose of discussing or voting upon
the matter, the notice of a meeting shall be given in accordance with this Section 16 and no
action shall be taken until the meeting is held.
Unless delayed in accordance with the provisions of the preceding sentence, any action
taken without a meeting will be effective 15 days after the required minimum number of voters
has signed the approval; however, the action will be effective immediately if Limited Partners
representing at least 90% of the Units have signed the approval.
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16.6 Limitations. Except with the unanimous consent of the Limited Partners, no
Limited Partner shall have the right or power to: (i) withdraw from the Partnership, except as
provided herein, or (ii) receive a return of any portion of his or her contribution to the capital of
the Partnership except as a result of a Distribution authorized by this Agreement or the
dissolution and winding up of the Partnership; (iii) bring an action for partition against the
Partnership; or (iv) demand or receive property other than cash in return for a contribution.
No Limited Partner shall have priority over any other Limited Partner either as to the
return of contributions of capital or as to allocation of Net Income, Net Loss, Tax Credits or
other tax items or as to the payment of Distributions.
Other than upon the dissolution and winding-up of the Partnership as provided by this
Partnership Agreement, there has been no time agreed upon within which the contribution of
each Limited Partner is to be returned.
17. WITHDRAWAL, REMOVAL, RETIREMENT, INSOLVENCY OR
DISSOLUTION OF A GENERAL PARTNER AND TRANSFER OF A GENERAL
PARTNER'S INTEREST
17.1 Removal of a General Partner. Any General Partner may be removed with
cause by a Majority Vote. If removed for cause, the General Partner shall surrender its Interest to
the Partnership, shall not be entitled to any payment for its Interest or any Distributions or
allocations except as provided in Section 17.4 below.
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Written notice of the removal of a General Partner will be served upon such General
Partner either by certified or by registered mail, return receipt requested, or by personal delivery
at the notice address set forth herein. Such notice will set forth the date upon which the removal
is to become effective.
The Limited Partners, by Majority Vote, may remove a General Partner for cause:
17.1.1. if the Limited Partners determine that: (a) the General Partner has failed
or refused to perform any of its material obligations as set forth in this Agreement; and (b) that
such failure or refusal has had or will have a material adverse effect on the Partnership; and (c) if
the General Partner does not, within a period of twenty (20) days following notice of such failure
or refusal, begin the performance of such obligations and cure, to the reasonable satisfaction of
the Limited Partners, as determined by a Majority Vote, the material adverse effects of such
failure or refusal; or
17.1.2. if the Limited Partners determine that the General Partner has engaged or
is engaging in an activity which is intentionally injurious to the Partnership; or
17.1.3. if the Limited Partners determine that the General Partner has committed a
breach of fiduciary duty, been grossly negligent, engaged in material misconduct or made one or
more material misrepresentations with respect to the Partnership or used or appropriated for
personal use or benefit funds or properties of the Partnership when not authorized to do so; or
17.1.4. if the Limited Partners determine that a General Partner or any Affiliate of
a General Partner has breached any, material term of the Management Agreement, the
Subscription Agreement, or any other agreement contemplated by this Agreement which the
Limited Partners deem to be material and the time period, if any, for curing such breach has
passed; or
17.1.5. without limiting the generality of the foregoing,. if the Limited Partners
determine that one or more of the following have occurred: (i) the General Partner has failed to
make one or more Negative Cash FlowLoans required by this Agreement after twenty (20) days
notice of 'a demand for such a loan has been made pursuant to the terms of this Agreement, or
(ii) there has been a default or an event of default which has not been cured within the applicable
cure period in anyone or more of the Permanent Loan, any debt due by the Partnership as the
account party on letters of credit, the Sellers' Indemnity, or the Subscription Agreement; or
17.1.6. if the Partnership has not received Cash From Operations for any period of
four consecutive calendar quarters beginning after the fifth anniversary of Second Closing (or
December 31, 2005 if sooner), which, after being reduced by deficits in Cash From Operations
for such period, aggregates $1.00 or more except that the failure of the Partnership to have net
positive Cash From Operations during any period of four consecutive calendar quarters shall not
be cause for the removal of the General Partner if the General Partner makes Negative Cash Flow
Loans to ,the Partnership in the amount of any net deficit in Cash From Operations for such
period; or
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17.1.7. if an Event of Withdrawal occurs with respect to that General Partner; or
17.1.8. if the Internal Revenue Service issues a 90-day letter which seeks to
disallow the allocation of Tax Credits to the Partnership on account of (i) all or part of the
carryover allocation of tax credits was invalid under Section 42(h)(l )(B) of the Code because the
exception in Section 42(h)(1 )(E) does not apply or (ii) the Project does meet the requirement of a
"qualified low income housing project" as defined in Section 42(g)(l) within the time period
required by Section 42(g)(3) of the Code.
17.2 Withdrawal or Retirement. Each General Partner covenants and agrees that,
except as provided in Section 17.6, it will not withdraw or retire from the Partnership. Any
Transfer by a General Partner of all or any portion of its General Partner Interest shall constitute
the withdrawal of that General Partner for purposes of this Agreement.
17.3 Death, Dissolution, Incompetency. In the event of: (a) the death of a General
Partner; (b) an Event of Withdrawal with respect to a General Partner; or (c) entry by a court of
competent jurisdiction of an order adjudicating a General Partner incompetent to manage such,
General Partner's estate or person, such General Partner shall cease to be a General Partner.
17.4 Effect of Ceasing to he a General Partner. If a General Partner is removed for
cause, then: (i) such General Partner's Interest will be converted automatically to that of a Special
Limited Partner owning the Capital Account formerly owned by the General Partner; (ii) such
Special Limited Partner will not be personally liable for the Partnership's debts incurred after
ceasing to be a General Partner; (iii) such Special Limited Partner will not be entitled to vote
upon Partnership matters; (iv) such Special Limited Partner shall not be entitled to receive any
further Distributions, fees or reimbursements except those which have accrued (in the case of
fees and Distributions) or been incurred (in the case of expense reimbursements) up to the date of
such General Partner's termination; (v) none of the allocations required to be made under Section
11.3 to the General Partner will be made to the Special Limited Partner; and (vi) such Special
Limited Partner shall be obligated to make up any deficit in its Capital Account if one exists at
the time its Interest is converted to that of a Special Limited Partner.
17.5 Termination of Contracts. If a General Partner, for any reason, fails or ceases to
serve as a general' partner, then: (a) all contracts (other than the Development Agreement)
between the Partnership and that General Partner or any Affiliate thereof may be terminated by
the Partnership effective upon 30 days written notice to the party so terminated; and (b) that
General Partner or any Affiliate thereof may also terminate and cancel any such contracts
effective upon 60 days prior written notice to the Partnership.
17.6 Sale or Transfer of a General Partner's Partnership Interest. A General
Partner may not Transfer all or any part of its Interest in the Partnership unless:
(i) the Limited Partners by a Majority Vote approve of such Transfer and of
the admission of such transferee as a General Partner;
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(ii) the transferee satisfies and agrees to assume and be bound by the
provisions of, and executes, this Partnership Agreement; and
(iii) the Partnership receives an opinion of counsel that such Transfer would
not result in the loss of limited liability of any Limited Partner or cause the Partnership to cease
to be treated asa partnership for federal income tax purposes.
17.6.1. Permitted Transfer. A General Partner may transfer all but not less than
all of its Interest to (i) another General Partner or (ii) an entity which is controlled by one or
more of the Sellers who are individuals. In addition, ownership interests in a General Partner
may be transferred provided that following such transfer, one or more of ,the Sellers who are
individuals continues to control such General Partner. For these purposes, "control" shall mean
ownership of more than 50% of the economic and voting interests of the entity in question.
18. CERTAIN TRANSACTIONS; UNDERTAKING NOT TO COMPETE
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Any of the Partners, any shareholder, officer, director, employee, partner, or other Person
holding a legal or beneficial interest in any entity which is a Partner, or any Affiliate of any of
the foregoing, may engage in or possess an interest in other business ventures of every nature and
description, independently or with others, including, but not limited to, the ownership, financing,
leasing, operation, management, syndication, brokerage, or development of real property,
including low income housing apartment projects, and neither the Partnership nor the Partners
shall have any right by virtue of this Partnership Agreement in and to such independent ventures
or to the income or profits derived therefrom.
Nothing contained herein shall preclude any Partner, or any Affiliate thereof from
purchasing other real property, wherever located, without notice to the other Partners and without
participation by the other Partners. A General Partner shall not be required to devote all of its
time or business efforts to the affairs of the Partnership, but shall devote only so much time and
business effort to the Partnership as it deems necessary and advisable. This Section shall not be
applied in derogation of the fiduciary duty of a General Partner to the Partnership.
, Notwithstanding the foregoing, each General Partner and the other Sellers agree that
neither they, nor anyone of them, nor their Affiliates, without a prior approving Majority Vote,
will manage, or own, of record or beneficially, directly or indirectly, and that they will cause
their Affiliates not to manage, develop, construct, or own any ten percent or more equity interest
in, any apartment or other rental housing project located within a three (3) mile radius of the
Project, dUring the term of this Agreement and for a period of 6 months thereafter.
19. DISSOLUTION AND WINDING-UP OF PARTNERSHIP
19.1 Events Causing Dissolution and Winding-up. The Partnership shall not be
dissolved by the admission of one or more additional general partners in accordance with the
terms of this Partnership Agreement. Upon the removal or withdrawal of a General Partner or
any other event that results in a General Partner ceasing to be a general partner, any remaining
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i'
general partner is authorized to and shall continue the business of the Partnership without
termination and without an accounting.
The Partnership shall be dissolved and its affairs shall be wound up upon the occurrence
of any of the following events:
19.1.1. The decision to dissolve and wind up by the Partners;
19.1.2. The disposition of all of the assets of the Partnership and receipt of final
payment of the purchase price (including the final payment of any purchase money debt) of all
such assets by the Partnership; or
19.1.3. An Event of Withdrawal; provided, however, that the Partnership shall not
be dissolved upon an Event of Withdrawal if: (a) at the time of such Event of Withdrawal there is
at least one remaining General Partner and such remaining General Partner carries on the
business of the Partnership; or (b) if there is no remaining general partner willing to carry on the
business, then, within 90 days after such Event of Withdrawal, the Limited Partners by Majority
V ote agree to continue the business of the Partnership and to the appointment, effective as of the
date of such Event of Withdrawal, of a successor General Partner.
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19.2 Liquidation of Assets. Upon a dissolution of the Partnership, unless the business
of the Partnership' is continued under a proposal to continue the business of the Partnership
pursuant to Section 19.1.4, the Limited Partners, by Majority Vote, shall select a liquidator to
take full account of the Partnership assets and liabilities, and to liquidate the assets as promptly
as is consistent with obtaining the fair value thereof. The proceeds therefrom shall be applied
and distributed by the liquidator in the following order:
19.2.1. To the payment of creditors of the Partnership including Partners who are
creditors, to the extent otherwise permitted by law, in satisfaction of liabilities of the Partnership
(whether by payment or the making of reasonable provision for payment thereof); and
19.2.2. To the General Partners and Unitholders in accordance with their Capital
Accounts.
19.3 Limitation on Merger, Transfer of Control, Etc. Except as provided in Section
17.6, this Partnership Agreement prohibits: (i) the assignment by a General Partner of its
economic interest in the Partnership; (ii) the merger or reorganization of a General Partner into
any other corporation; (iii) the merger of any other corporation or partnership into a General
Partner; (iv) the issuance or transfer, directly or indirectly, of any equity interests in, a General
Partner other than to the general partners of any General Partner which is a partnership; or (v) the
assumption of the rights and duties of the General Partner by, in the case of any merger,
reorganization or consolidation, the surviving entity by operation of law.
During the term of this Agreement, the Sellers agree that they or anyone or more of
them, will maintain directly or indirectly, at all times an equity interest of fifty-one percent
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(51%) or more in, and the right to control the affairs and management of the General Partner and
the Developer.
20. POWERS OF ATTORNEY AND DESIGNATION OF TAX MATTERS PARTNER
20.1 Grant of Power of Attorney. To the extent permitted by law, by the execution
of this Partnership Agreement, each Limited Partner hereby appoints and constitutes the
Managing General Partner as its attorney-in-fact, with full power of substitution as to any
additional or replacement general partner of the Partnership and with power and authority to act
in such Limited Partner's name and behalf in the execution, acknowledgment, verification,
delivery, and filing of documents which will include, but not be limited to, the following:
20.1.1. A Certificate (or Certificates) of Limited Partnership, as well as any and
all amendments or restatements thereto, required under the laws of any state or jurisdiction;
20.1.2. Any other instrument which may be required to be filed by the Partnership
under the laws of any state or jurisdiction, or which the Managing General Partner deems
advisable to file, in order to limit the liability of the Limited Partners;
20.1.3. Any documents which may be required to effect the continuation of the
Partnership, the recognition of Limited Partners, the appointment of a new Tax Matters Partner,
the recognition of Assignees and Assignees of Record, or the dissolution, winding-up and
termination of the Partnership in accordance with the terms of this Partnership Agreement; and
20.1.4. This Partnership Agreement and any amendments and/or restatements to
this Partnership Agreement which the Managing General Partner may be authorized to make
without obtaining the approval of the Limited Partners or with obtaining such approval so long as
such approval has been obtained.
20.2 Incidents of Power of Attorney. The Power of Attorney hereby granted by each
Limited Partner to the Managing General Partner:
20.2.1. Is a special power of attorney coupled with an interest, is irrevocable, and
shall survive and not be affected by the subsequent death, disability, incapacity or dissolution of
such Limited Partner;
20.2.2. May be exercised by the Managing General Partner for each Limited
Partner in such form and manner as the Managing General Partner deems appropriate including,
. without limitation, by the signature or facsimile signature of a Managing General Partner, or, by
the single signature or facsimile signature of a Managing General Partner acting as attorney-in-
fact for all of the Limited Partners;
20.2.3. Shall survive the delivery of an assignment by a Limited Partner of a Unit
or Units except that where the Assignee thereof has been approved by the General Partners for
admission to the Partnership as a substitute Limited Partner, the Power of Attorney shall survive
,
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the delivery of such assignment for the sole purpose of enabling the Managing General Partner to
execute, acknowledge, and file any instrument necessary to effect such substitution; and
20.2.4. Includes the authority to take any further action which the Managing
General Partner shall consider necessary or convenient in connection with any of the powers
granted to the Managing General Partner pursuant to this Section 20, hereby giving the
Managing General Partner full power and authority to do and perform each and every act and
thing whatsoever requisite and necessary to be done in and about the foregoing as fully as said
Limited Partner might or could do if personally present, and hereby ratifying and confirming all
that said Managing General Partner shall lawfully do or cause to be done by virtue hereof.
20.3 Tax Matters Partner. The Managing General Partner is hereby designated as,
and shall be, the "Tax Matters Partner" of the Partnership as defined in the Code. Each Limited
Partner hereby appoints and agrees to the designation of the Tax Matters Partner.
20.4 Additional Powers of Tax Matters Partner By Majority Vote. Each Limited
Partner hereby authorizes the Tax Matters Partner to represent said Limited Partner before any
office of the IRS with respect to Partnership items during the term of the Partnership, to receive
confidential information, and to perform on behalf of the taxpayer(s) the following acts with
respect to such Partnership items but only with prior approval by a Majority Vote:
20.4.1. To execute waivers (including offers of waivers) of restrictions on
assessment or collection of deficiencies in tax and waivers of notice of disallowance of a claim
for credit or refund;
20.4.2. To execute consents extending the statutory period for assessment or
collection of taxes;
20.4.3. To execute closing agreements under the Code;
20.4.4. To delegate authority or to substitute another representative; and
20.4.5. To negotiate, adjust, compromise and, generally, take all actions and
execute all documents deemed reasonable by said attorney-in-fact relating to or in connection
with Partnership income tax returns or Partnership income tax matters.
21. INDEMNIFICATION
The Partnership, its receiver or its trustee shall indemnify and hold harmless a General
Partner or its Affiliates from and against any loss, expense, damage or injuries suffered or
sustained by it including, but not limited to, any judgment, award, settlement, reasonable
attorneys'. fees and any other cost or expense incurred in connection with the defense of any
actual or threatened action, proceeding or claim by a person not a Partner, by reason of any acts,
omissions or alleged acts or omissions performed in good faith arising out of its activiti'es on
behalf of the Partnership if the General Partner or its Affiliates determined that such course of
conduct was in furtherance of the best interests of the Partnership, that the General Partner was
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acting on behalf of or was performing services for the Partnership and such course of conduct did
not constitute negligence or misconduct of the General Partner. For purposes of indemnification
by the Partnership, an "Affiliate" includes only those Affiliates who are performing duties or
services on behalf of the Partnership.
IN THE OPINION OF THE SECURITIES AND EXCHANGE COMMISSION,
INDEMNIFICA nON FOR LIABILITIES ARISING UNDER THE SECURITIES ACT OF
1933 IS AGAINST PUBLIC POLICY AS EXPRESSED IN THE ACT AND, THEREFORE, IS
UNENFORCEABLE. In any settlement of claims before a court for federal or state securities
laws violations, the party seeking indemnification shall place before the court the position of the
Securities and Exchange Commission with respect to the issue of indemnification for securities
laws violations.
Notwithstanding the foregoing, neither a General Partner nor its Affi,liates shall be held
harmless or indemnified for acts incurred in connection with the business of the Partnership that
arise from fraud, willful misconduct or gross negligence of the General Partner or its Affiliates.
All judgments against the Partnership and the General Partner or its Affiliates wherein the
General Partner or its Affiliates are entitled to indemnification must first be satisfied from
Partnership assets before the General Partner or its Affiliates are responsible for such obligations
and may only be satisfied from the assets of the Partnership and not from the assets of
Unitholders individually.
Notwithstanding the foregoing paragraphs of this Section neither a General Partner nor
any of its Affiliates shall be indemnified by the Partnership from any loss or damage incurred by
them in connection with any claim or settlement involving allegations that federal or state
securities laws were violated unless: (i) there has been a successful adjudication on the merits of
each count involving a securities law violation as to the particular indemnitee; (ii) such claims
have been dismissed with prejudice on the merits by a court of competent jurisdiction as to the
particular indemnitee; or (iii) a court of competent jurisdiction approves a settlement of the
claims against a particular indemnitee and finds that indemnification of the settlement and the
related costs should be made; and (iv) in any of the foregoing instances, the court of law
considering the request for indemnification has been advised of the position of the Securities and
Exchange Commission and the position of any state securities regulatory authority in which
securities of the Partnership were offered and sold as to indemnification for violations of
securities laws, provided that the court need only be advised of and consider the positions of the
securities regulatory authorities of those states (a) which are specifically set forth in the
Partnership Agreement and (b) in which plaintiffs claim they were offered or sold Units. Should
indemnification for claims of federal or state securities laws violations be permitted under this
Section 21, such indemnification will be allowed for all expenses incurred in defending such law
suits.
The Partnership shall not incur the cost of the portion of any insurance which insures any
party against any liability as to which such party is herein prohibited from being indemnified. A
General Partner or its Affiliates may not be named as an additional insured party under the
49
0377095.07
Partnership's insurance policies unless the General Partner or its Affiliates reimburse the
Partnership for any additional insurance premiums payable as a result thereof.
Notwithstanding anything contained herein to the contrary, Affiliates of a General Partner
shall be entitled to indemnification hereunder only if the act or omission giving rise to such
indemnification was within the scope of the General Partner's authority, or a claim is being made
against such Affiliate solely because it is an Affiliate of a General Partner.
22. MISCELLANEOUS.
22.1 Counterparts. This Partnership Agreement may be executed in any number of
counterparts, each of which shall be deemed to be an original as against any party whose
signature appears thereon, and all of such counterparts shall together constitute one and the same
instrument. This Partnership Agreement shall become binding when one or more counterparts
hereof, individually or taken together, shall bear the signatures of all of the parties reflected
hereon as the signatories. This Partnership Agreement may be executed and delivered by fax
(telecopier); any original signatures that are initially delivered by fax shall be physically
delivered with reasonable promptness thereafter.
22.2 Successors, Heirs, Assigns and Venue. The terms and prOVISIOns of this
Partnership Agreement shall be binding upon and shall inure to the benefit of the successors,
heirs and assigns of the respective Partners, and shall be construed in accordance with, and
governed by, the laws of the State of Georgia, and venue for any legal action arising out of this
Partnership Agreement shall be in Fulton County, Atlanta, Georgia.
22.3 Severability. In the event any provision, sentence or section of this Partnership
Agreement is declared by a court of competent jurisdiction to be void, such provision, sentence
or section shall be deemed severed from the remainder of the Partnership Agreement and the
balance of the Partnership Agreement shall remain in effect.
22.4 Notices. All notices under this Partnership Agreement shall be in writing and
shall be deemed given to the Persons entitled thereto one day after being sent when sent by
nationally recognized overnight courier for next day delivery or by telecopy to the telecopy
number set out herein, or by telex, or by telegram, or five days after deposit in the U.S. mail,
postage prepaid, by certified or registered mail, posted to the address set forth immediately below
for such Person or at such other telecopy number or address as he may specify in writing.
Purchaser: SunTrust Bank, Atlanta
Center Code 243
Suite 1350, 50 Hurt Plaza
Atlanta, Georgia 30303
Attn: C. Breck Kean
Vice President
Facsimile: 404/230-5534
50 0377095.07
with a copy to:
Morris, Manning & Martin, L.L.P.
1600 Atlanta Financial Center
3343 Peachtree Road, N.E.
Atlanta, Georgia 30326
Attn: Timothy S. Pollock, Esq.
Facsimile: 404/365-9532
The Partnership, White Oak Olde Town,
Inc. and Paula Ryan:
Olde Town Associates, L.P.
c/o Ms. Paula 1. Ryan
White Oak Olde Town, Inc.
222 Clematis Street, Suite 206
West Palm Beach, Florida 33401
Facsimile: 561/838-8887
TCG Developers of Georgia, Inc. and
Other Sellers not described above:
Lloyd Boggio, Bruce Greer and
Luis A. Gonzalez
c/o The Carlisle Group, Inc.
2937 S.W. 27th Avenue
Suite 303
Coconut Grove, Florida 33133
Facsimile: 305/476-1557
/
\.. .
with a copy to:
The Drummond Law Group, P.C.
One Midtown Plaza, Suite 1000
1360 Peachtree Street, N.E.
Atlanta, Georgia 30309-3214
Attn: Alison M. Drummond, Esq.
Facsimile: 404/898-1201
22.5 Titles, Captions, Number and Gender. Section titles or captions contained in
this Partnership Agreement are inserted only as a matter of convenience and for reference. Such
titles and captionsl in no way define, limit, extend or describe the scope of this Partnership
Agreement nor the intent of any provision hereof. Whenever required by the context hereof, the
singular shall include the plural, and vice versa.
22.6 Names, Addresses and Capital Contributions. The names, addresses and
capital contributions of the Limited Partners shall be set forth by the Managing General Partner
on the books and records of the Partnership and shall be maintained at the principal place of
business of the Partnership.
22.7 Applicable Law. Notwithstandillg the place where this Agreement may be
executed by any of the parties hereto, the parties expressly agree that all the terms and provisions
51
0377095.07
hereof shall be construed under the laws of the State of Georgia and that the Act as now adopted
and as amended from time to time shall govern the partnership aspects of this Partnership
Agreement.
22.8 Further Documents. The Power of Attorney granted to the Managing General
Partner by each Limited Partner in Section 20 shall constitute the authority of the Managing
General Partner to perform the ministerial duty of qualifying this Partnership under the laws of
any state in which it is necessary to file documents or instruments of qualification. The
Partnership office or principal place of business in any state may be designated from time to time
by the Managing General Partner.
22.9 Reconstitution in Another State. If the State of Georgia amends the Act in any
manner which at any time precludes the Partnership from obtaining an opinion of tax counsel to
the effect that the Partnership will be treated as a partnership for federal income tax purposes and
not as an association taxable as a corporation, or which, in the opinion of legal counsel, causes a
Limited Partner to be liable as a general partner if such Limited Partner takes part in the control
of the Partnership, then the Managing General Partner may reconstitute the Partnership under the .
laws of another state.
22.10 Arbitration. Except for actions which seek a temporary restraining order or
temporary injunction, any actions with respect to claims by any party to this Agreement against
any other party or parties to this Agreement or against the Partnership or by any Partner against
any other Partner or Unitholder with respect to the right and obligations of each, arising out of
the Transaction Documents shall be settled by a panel of three arbitrators by binding arbitration
in the City of Atlanta, Georgia, in accordance with the Commercial Arbitration Rules for
expedited procedures of the American Arbitration Association. Judgment upon the award
rendered by the Arbitrators may be entered in any court having jurisdiction over the parties.
22.11 Admission of the Purchaser; Redemption of the Withdrawing Partner.
Effective upon-the execution hereof, the CDC shall become a Limited Partner, and immediately
thereafter, the interest of the Withdrawing Partner will be redeemed for one hundred dollars
($100).
,
22.12 Status of Limited Partner or its Affiliate as a Lender. The parties hereto
acknowledge and agree that the BanJ< is a Limited Partner or is an Affiliate of one or more of the
Limited Partners and that, notwithstanding such relationship, the Bank shall be entitled to
exercise all rights it may have as a lender to the Partnership under the law and under the
applicable loan documents. Neither the Partnership nor any Partner nor any Affiliate of a Partner
shall assert the relationship between the Bank and a Limited Partner as a defense against the
Bank's exercise of its aforesaid rights.
[Remainder of page intentionally left blank.]
52
0377095.07
c.
IN WITNESS WHEREOF, the parties hereto have executed this First Amended and
Restated Agreement of Limited Partnership as of the date first written above.
GENERAL PARTNERS:
[Corporate Seal]
...-:~......
(
[Signatures continued on next page]
Signature page to First Amended and Restated Agreement of Limited Partnership
,r'..'~
i
','
TCG DEVELOPERS OF GEORGIA, INC.
By:
Name:
Title:
(D
[Corporate Seal]
i
\,
Signature page to First Amended and Restated Agreement of Limited Partnership
/~: .
,.-
\,
\.'
{;1;;J~
Bruce reer
Signature page to First Amended and Restated Agreement of Limited Partnership
. .
, '
r' .
I
,
[Signatures continued on next page]
Signature page to First Amended and Restated Agreement of Limited Partnership
p
[Signatures continued on next page]
(
\.
Signature page to First Amended and Restated Agreement of Limited Partnership
ADDITIONAL LIMITED PARTNER:
SUNTRUST BANK, ATLANTA, a Georgia
banking institution
~/J'
By: . e0----
Christine R. McGi IS, First Vice
President
By:
C. Breck Kean, Vice Presid nt
c
" \
54
0377095.07
i
/ Uflf81T ~
RESOLUTIONS
OF THE PARTNERS OF
OLDE TOWN ASSOCIATES, L.P.
The undersigned, being all of partners ofOlde Town Associates, L.P., a Georgia limited
partnership, hereby agree as follows and adopt the following resolutions:
WHEREAS, Olde Town Associates, L.P. , a Georgia limited partnership (the
"Partnership"), is the owner of a 116-unit low income scattered site affordable housing
devel~pment known as Olde Town Apartments and located in Augusta, Georgia (the "Project");
and
WHEREAS, White Oak Olde Town, Inc., a Georgia corporation ("White Oak" and the
"Managing General Partner") and TCG Developers of Georgia, Inc., a Georgia corporation
("TCG") (collectively White Oak and TCG are referred to herein as the "General Partners"),
were formed for the purpose of serving as the general partners of the Partnership; and
WHEREAS, SunTrust Bank, Atlanta serves as the limited partner ofthe Partnership (the
"Limited Partner"); and
WHEREAS, the General Partners and the Limited Partner (collectively referred to herein
as the "Partners") believe it is in the best interests of the Partnership to undertake certain actions
relating to the ownership, rehabilitation, development and operation of the Partnership and the
Project.
NOW THEREFORE, BE IT RESOLVED, that the Partnership is hereby authorized to
obtain, execute and deliver any and all documents in connection with various loans (hereinafter
referred to as the "Loans") and other finanCing described below in connection with the
ownership, rehabilitat~on, development and operation ofthe Project, in such amounts and on
such terms as the Managing General Partner of the Partnership shall determine in its sole
discretion, including without limitation: (i) that certain HOME loan from the Georgia
Department of Community Affairs ("DCA Loan") in the original principal amount of
approximately $1,730,000.00; (ii) that certain HOME loan from the City of Augusta, Georgia
("City Loan"} in the original principal amount of approximately $1,137,000.00; and (iii) that
certain equity loan from SunTrust Bank, Atlanta (the "SunTrust Loan") in the original principal
amount of approximately $3,440,000.00.
FURTHER RESOLVED, that the Partnership is hereby authorized to enter into, execute
and deliver any and all agreements relating to the rehabilitation, development and operation of
the Project, including, but not limited to, any and all development agreements, management
agreements, construction contracts and architect agreements.
FURTHER RESOLVED, that the Managing General Partner is hereby authorized to
execute, in the name and on behalf of the Partnership, and to deliver any and all promissory
F:\Documcllts\CAR\\Vhitc Oak\Oldc Town\rcsol.pship.loalls.doc
notes, mortgages, deeds of trust, deeds to secure debt, security agreements, indentures, bond
purchase agreements, assignment of collateral, loan agreements, surety agreements, guaranties,
financing statements, operating agreements, development agreements, management agreements,
oversight management agreements, letters of credit, credit facility agreements, reimbursement
agreements, partnership agreements, resolutions, any and all amendments thereto, and any other
instruments of any kind or nature whatsoever, and to take from time to time any other actions
deemed necessary or desirable by the Managing General Partner to carry out the intent of the
foregoing reso~utions, and to execute documents and secure the Loans upon the terms and
conditions which such Managing General Partner shall in its discretion deem appropriate.
FURTHER RESOLVED, that any and all other actions heretofore taken by any partners
or representatives of the Partnership, or any officers or directors of the Managing General Partner
to execute and deliver any of the instruments authorized by the foregoing resolutions, or to take
any actions which such partners, representatives, officers directors or members deemed
appropriate in order to carry out the transactions authorized in the foregoing resolutions, are
hereby approved, ratified an confirmed in all respects.
FURTHER RESOLVED, that these Resolutions may be executed in counterparts,
which together shall constitute one and the same document.
[Signatures on Following Page]
F:\DocumenL<;\CAR\\Vhite Oak\Oldc TO\\11\rcsol.pship.loans.doc
IN WITNESS WHEREOF, the Partners of the Partnership have adopted these
resolutions as of the ~ay of December, 1998.
GENERAL PARTNERS:
[CORPORATE SEAL]
TCG DEVELOPERS OF GEORGIA, INC.
a Georgia corporation
General Partner
By:
Name:
Title:
[CORPORATE SEAL]
LIMITED PARTNER:
SUNTRUSTBANK,ATLANTA
By:
Name:
Title:
[BANK SEAL]
IN WITNESS \VBEREOF, the Partners of the Partnership have adopted these
resolutions as of the ~y of December. 1998.
GENERAL PARTNERS:
WHITE OAK OLDE TOWN, INC.
a Georgia Corporation
Managing General partner
Paula 1.' Ryan
President
[CORPORATE SEAL]
TCG DEVELOPERS OF GEORGIA, INC.
a Georgia co ration
Gen P^ er
By:
Name:
Title:
[CORPORATE SEAL]
LIMITED PARTNER:
SUNTRUST BANK, ATLANTA
By:
Name:
. Title:
'[BANKSEAL]
F:\Documenr:s\CAR\Whitc Oak\Oklc Town~l.psbipJoam.dQC
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Dec-21-98 05:58pm From-UDRRIS MANNING MARTIN
l't BY.:. Tne. crulDl1IQna L-aVil Group I P. C . ; 404 til:ta I C:IoII I
4042332830
T-013 p.os/oe F-015
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IN WlTl'lESS WHEREOF, the pannas cfthe: parmaahiP have adopted these
resolutions lIS oime _ day of Decembe:r. 1998.
I"
CENERAL PARTNERS:
WHITE OAK OWE TO~, INC.
a Georgia Corporation
<' ,:~ging General parmer
q.
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'Paula J. Ryall ..
President
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[CORPORATE. SEAL]
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:,h!-r"iiJ{c:P,tl.~~~OPE~ OF GEORGIA, U~C.
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. . General Partl'U:f
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Name: .
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ARCHITECT'S CONSENT AND AGREEMENT
December ;;...-.'1,
"Architect") ,
the State of
This Consent and Agreement is made as of
1998, by Spencer Maxwell Bullock Architects (the
and Augusta, Georgia, a political subdivision of
Georgia ("Lender").
WHEREAS, Architect has entered into a contract (the
"Contract") with Olde. Town Associates, L. P., a Georgia I imi ted
partnership (lIBorrower"), dated March 13, 1998, pursuant to
which Architect will be the architect for the rehabilitation of
rental housing at 49 sites located in Richmond County, Georgia,
known as Olde Town Apartments (the "Project"); and
WHEREAS, Borrower has applied to Lender for a
rehabilitation loan (the "Loan") to be made pursuant to the
provisions of an Rehabilitation Loan Agreement (the "Loan
Agreement" ), the proceeds of which Loan are to be used to
finance the rehabilitation of the Project; and
WHEREAS, Architect's execution of this Agreement is a
condition precedent to the making of the Loan;
NOW, THEREFORE, in consideration of the foregoing premises,
the sum of $10.00, and other good and valuable consideration,
including the direct and indirect benefits to Architect from the
making of the Loan, the receipt and sufficiency of which are
hereby acknowledged, Architect covenants and agrees with Lender
as follows:
1. Contract. Attached as Exhibit A is a true and exact
copy of the Contract. There have been no amendments,
modifications I transfers,' or assignments of the Contract that
are not attached to Exhibit A or otherwise disclosed to Lender.
2. Changes. Architect shall not change the plans and
specifications for the Project or, on Borrower's behalf,
authorize any change order relating to the rehabilitation of the
Project without Lender's prior written consent.
3. Consent to Assignment.
assignment to Lender of the
specifications for the Project, and
Architect consents to
Contract, the plans
all other documents
the
and
~.
pertaining to the Proj ect that may be referenced in the
Contract. If Lender exercises any of its rights and
:remedies under the Loan Agreement or the other uOCWllents
and instruments evidencing, guaranteeing,. or securing the
Loan, Lender may use the plans and specifications and any
other documents pertaining to the Proj ect, and Architect
shall perform its obligations for the benefit of Lender and
in accordance with the terms of the Contract.
4. Governing Law. This instrument shall be governed
by, construed, and .~nforced in accordance with Georgia law .
IN WITNESS WHEREOF, Architect has executed and sealed
this Agreement as of the above date.
SPENCER MAXWELL BULLOCK
ARCHITECTS
By:
Name:
Title:
Attest:
.'
-~... ~...
- ........'.rJ-,J..~
.......-.-.....
Name:
Title;
/ "
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[SEAL]
Dec~21-9B 11:39A
E4f1-1 B IT It
P.02
T H I!
AMERICAN
INSTITUTE
o F
ARCHITECTS
rl:
I
AlA Document 8151
Abbreviated Fonn of Agreement
Between Owner and Architect
,'l,
for Construction Projects of Limited Scope
1987 EDITION
THIS DOCUMENT HAS IMPORTANT LEGAL 'CONSEQUENCES; CONSULTA TION WITH
AN ATTORNEY IS ENCOURAGED WITH RESEEr;T TO ITS COMPLETION OR MODIFICATION
;"
AGREEMENT
made as of the thirteenth
Nineteen Hundred and Ninety eight
day of Me rch
in the: ye-dr of
BETWEEN the Owner:
(NamIl and uddnrss)
Olde Town AS$oci~teB, LP.
272 Clematis, Suite 207
West Palm Beach, Florida 'JJ401
; \
,and the Architect:
,,': '("'<PM aIId UlJdI"f!:JS)
Spencer Maxwell Bullock Architects
200 South TerrngonaStreet
Pensacola, Flo~idaJ2501
i, .
't:
For the following Project:
(1rn;/udiJ clelu;/#d dnl:riptiun uf Pmjecl. Ioc;dl/otl. (k~CUJd .....yl{le.) .
. ,
Olde Town-Augusta, Georgla .
Rehabilitate S2 residential buildings (114 apartmHnt units)
and 1 commericat building- alony with a Park/Play area and
property Laundry facilities.
The Owner and Archirect agree as set forth below.
C:'IPyr11lhl 1')7<4, I'>7H, @ I~H7 by Tho: AIr\(tll":.Il. Inslilllle; or IIrdliln:tS. I~.~'i Nc.'w Ymk Avo:nll<', N.W.. W:u;hinRI.I". D.C. !fIlIlIC.,
"q'flnhn:lIon uf Ihe; m~lc=n:l.l hc=rc=m 1.lt ~ubllt;ml"d tJ\I'lI~lillll ul' il~ flroVi~illl\S wilhuUI wrUln) permi.'i.~illn .,f the AlA v",l~le' lhe
<:llpyrlKhl la'lll~ llt lhc= Ilnitcc.1 Slale:, ~ntl will he: $uhjc.'(:l llllc.~ I',,_c:ulilln,
AlA DOCUIRNT .,11, · AR8KEVIATl!D O\1VNER.ARCIII1'I:l:T AtIRP.P.MIiNT. TIII/U) IiUITIOIll. AlA- . (~l')tl7
TIll! A.MIIKII;AN INsTIl'UTE II' AIlO1ITIit:Tl\. 17,., NEW YOKK AVP.Nl'E,N.W.. WASHINGTON, U.t:. lOllllCl
WAAMINO: Unoctn.d ptlo1ocapvtna vIoIatH llS. ~Itt '- -' '11uIIfKt to.. ~11on.
8151-1187 1
Dec-~1-9B 11:39A
P.03
TERMS AND CONDlTIONS OF AGREEMENT BETWEEN OWNER AND ARCHrrr:CT
ARTICLE 1
ARCHITECT'S RESPONSI81LITIES
1.1 ftRCHITECT'S SERVICES
1.1.1 The Archilc<:t's services c(>r,*iSI l"lf lho~ liCrvk'es pc;r-
r()(fllel.l hy th,: Ar.:hitecl. Architect's employees J.ml Architect's
cllnsult:mls ;~~ ellurncr,llell in Artirle.~ 2 :111\1,\ of this AWc:en,,:m
;lnd :lIlY mher services included in Article Il,
1.1.2 The Archilc<:t's servil'r:,5 $h;lll he: pe:rf')frnel.l ;l.~ cxpedi-
'tiIJl..~ly .~ i~ eomL'\lI:m with profes.~ionJI skHl :rnd CHC md the
. orderly proMrcss 1)1' the WIJrk.
1.1.3 Thc serviLc.~ covered hy this Agreement :lrc suhjcct to
th.: timc limitations containell in Subpar"W"ph 11, S.I.
ARTICLE 2
SCOPE OF ARCHITECT'S 8ASIC SERVICES
2.1 DEFlNmON
2..1.1. The Architect's Basic Serviees consist of those described
unllcr the: three pha.'IeS identified below, any other f,efVlceS
Identified in Article 12, and include nomul structur.d, rncch:mi-
cal and c\en1'lCll englneerlng services,
2.2 DESIGN PHASE
2.2.1 The Architect shall review with th( OWI1er "hem;llive
~ppro:1Che.~ to de..~18n :ll1d CI)I\,5tructiOn of the Project.
2.2.2 B:I.SC'd on the mutu:llly ~grecd-upon prngr;cm, ~hclluJc
:Uld COlulructlon hud8~t re:quin:mcnts, the: Architect shall
, . prc:p;ire. for approval by the Owner. Design Ocxumcnts con-
" sisling or drawing... and o(h~r ~c>cumcnu appropriate for the
Pn)jC(l. a,," .." tiltB",jt tv Ute QT ADf lI}lf Jill l'-tlYl- uutiJlunlr Hf
1S_.A.lnI€.tiuR CoM,
2.3 CONSTRUCTION DOCUMENTS PHASE
2.3.1 H;~~I""'lhe ;Ippmvcd Dc5ign Doeumenl..., lhl;: Ari.:hilecl
shOllI prepare:. for approv31 by the Owncr, Conslruction Docu.
mentS cllI\sislinl( I If Dr;l wir\H-~ ;\IId Specific:llions scillng forlh ill
ue:l;tilthl' re:quirc:mc:nts for th,: ellmlrul~ti,"\ or the: Project :md
shall ;Jd\'isc lhe Owller flf ally ;tlljuslmcnts ,to prC\'IOIl~
prdlmin;U'y c.'\llm;Jles of Construction Cost.
2.3.2 The ArchitC:"1 sh:i11 ~,~ist the Owner 111 fllllncctilln with
the ()wlll:r'.~ respc IIlsihility for tlUlllC dnl'lllnents required for
rhe ;lpprov:1I of' ~ovemment;11 ;llIlhnritic's h:lving jurIsdiction
over tht." Prlli'~"l.
2.3.3 I '\llc:;.,\ pwvill.:u in Aftidt:' 12, tht' Archit':':l. fnllllwi\lK
the Owner's ;Jp\lfl)v;1I Ill' lhe Constructilln Doc;un)en!s :Ind or
thc I;JICst prdiminary estim:llc III Con...lnll'!ion Cost. sh;lll :J.....i...1
Ihe Ow.wr in oht;/illin~ hir1~ Ilr ne:j;(lIti:tted proptl"'-lls :(r\d ;l,~ist
ill JW;tntill)( :lnll prq);lfi"J( 1'0111 r:Kts for .:on~truet in(\.
2.4 CONSTRUCTION PHASE-ADMINISTRATION
OF THE CONSTRUCTION CONTRACT
2.4.1 The:: Ar<:hitt'ct's rl-:;pon.-ibility w provic.k B;Jliie Scrvict"S
fur Ihl;' C"nstructin(\ Ph;LO;C \Jnu~r IIli... AHrr;cr\JCI11 t'umrlw:l\(es
wilh the :tW:lrc.1 of the Cl1ntrolct for Cono;truction :And l~rmin:llc."
;ct the C'.ulier I ,f is.~u;llwc 11.1 the Owr\er uf the tin;1! Ce:rtitk';ltt' for
P:.lym~nt nf ()(I d:lYs aftcr Ihc d:lte of Suhstmti:l1 Completiun ,If
the Work,
2.4.2 The Archilcct ,'ih:.lll provide ;ldminislt";ltilln IIf the Clll\-
tract for C()n~In.KtiOl' :IS sc:1 f\lrth bt:lllw :.lllll in tht' edition of
AlA Document ^201. (;encr;ll C'I(\dililll1'; of Iht: Cnl\lr,((;1 fi,r
Construclion, t'urrenl as of the d;tle lIf this A)(rt'emenl.
2.4.3 Dll[j~..., r~spll(\sihilitic" ;JnLllimil;lli"ns ,If ;Juth,lrilY ofth.:
Arc.hitect shall not he restricted. moditied or cxtcnded without
written :lKrCCment of the:: Uwner MIll Art'hitet'l with l'lm:K'm o[
the C;OlUr:lClOr, which omsem sh;Jll nm he unreason;lhly
withhc:\c.l.
2.4.4 The Archite<:t sll"U bc ;c rcprc:;Cl1lative uf am.! shall :.Idvisc::
:md consult with the Owner (I) during omstruction until fll\21
P'o4yme::llt tu the Comr.l('tor is due al\d (2) as ,,(\ AlIditiunal Sc::r-
vice al the Owner's direction from time (() lime durjng the cor,
rcclioll periud l~ribcd in the Contl"'.Ict fur CllllStl1lctioll.
2...5 The Archilect stlaU vi:;it the site :It inlerva1.~ appropr~tc
to the sugc or con~truction Or as Otherwise :tgrccc.l by the
Owncr :t"d Architect in writing to h~C'l)me genr;r"lIy f.ltniliar
with the progres.'1 :lnd Qu"lity of the Work cumpleted ;1od 10
determine in Kcne:ra1 if the Work is hr;i.,x J'lI:rfVn'l\eo in a man-
ner indicating thill thr; Work when compl.:ted will he: in ,l((:vr-
wm;e with the Contr:lct Documenl'j, Howcver. the Architect
shall not be re,quired to Ol:tke e:xhaustive 'lr cominuoll," on-~itr:
inspections to' check the qu:lllty vr <luantit}' of the: Work, On
th~ 1);&SiS of on-site: obscrv:ltion~ :l.~ :rn ;1tchilC:~'I, Ihe Ardlilcl't
shall kecp the Owner infonned ~lf the pr~res.s :md quality or
the Work. .&I,d shall endeavor to ~u:lrd lh~ Ow'\c:r ilK-1itlst
L1cfc:cts md defiCIencies in the Wurk, (.\fun' I!XU'1I5;I't' ...ill'
nprt'sell/td;IJl/ Iru~V IJe UJ{rel'd 10 t~.\ till Atltll/itJtltll SeY/';ce. (I..~
(/escrilx'(/ ill f'lmJMrllfl/J 3,2.)
2.4.6 The Art'hile<:l ~h:tll nut h:lvC contmt over or ch:l~~ of
,lIld ~hall not be rc:;ponsihk fllr ':lln.~trllnilll\ .1'<::;Jn~, rnelholls.
tCLhniqucs. scquclWes Dr !lmt'ellurcs. Dr for s:II'cty prcc3utilln.~
;1I\d pro)(l"'Jms in conncction with the \'(' Ilrk, sir"'.. Iht'st' ;It'C
solel\' the C,)I1ll';IClllf's respllllsihilit\' lInd~r tht: Contr:tct f',,,
Cllrl~lnl~'ti()n. The ArchitcCI sh;lll n;,l he responsihle for lhe:
Contr:letor'~ schedules llr l':JillIre: 111 t':lrry nlll (ht: Work in
;J1:l'"rt!;lIK'e wilh the Contr:lct Documcnl,_. The Ardlile:l'l .,h:lil
not h:lve COOll'll1 Ill'er "r ..h;l/'Ke: Ill' acts or omi....'iions I'll' Ihe
Cllmr.ll'lllt. Sl1hl'llntr.lClllrs. or their J~cnt~ 'lr I:mployce:s. l1r 01
;lll}' other PCP.ll>OS Ixrt'orminl( flllrt ions oi tht: \1(', Irk.
2.4.7 The Ardlitt:l.t ~h;.tll :II ;111 times h:l\'c ,''xc,,.; (" rite \1('ork
wlwwH'r it is in prcp:lI;.lIilln or prnl(ress,
2.4.8 B:.L';t'l1 "11 th~ .\r,hilt:l'l'S lIhs~'r\';IliIIIlS ;1I1lIl:V;lIIl:llic illS Ill'
II\[' C.llltr:lclllr'S "ppli~';llillns for P:Wl1ll'IH. ,III' ..\rd.it':,l ~h:lll
r~"\'il:\\i ;&1l~1 n'rlify lh.: amlJUI1l.' UllC I"~' C,'llll':lt'(\ '1',
2.4.9 The Ar.:hit......t's ,'I'rlitiCllj'ln til( Jl"~'IIlI:lll ~h;lll t'lll1slitLlte
:I rc:prL"ScOl;tlilllllolhe Owner. h:'-"'tllll1 thc Al'chilet'l's Ilhsc:r-
v:ltilll\S ;II the site ;l~ pn lVidcll 11\ SlIhp;lr;lllr;ll'h ~ :1. 'i ;1I\d '"\ lh"
. AlA DOC\JIIBn .", . o\I4I\Mt;VIATED OWNl!R'^ROCl'rF,(;T AGRHMl!NT. THIKD HIITION. ."^. . It) 1'1I4~
TIlP. AM~,\l11 '.AIIl 'NSTITlIT~ OF AIKIllTI!I:TS, L ~,~ IIlEW YORK AYI'./IItIE. N,W.. WASIIINI;TON. II,\:. ~I"".'
WARNING: UnIloel.... ~...... u... ~t'" MIl I, ~ to....~"
8151-1987 2
Oec-21-9S 11:39A
ARTICLE 5
CONSTRUCTION COST
5.1 DEFINITION
5.1.1 The c,/n:\lructkm c.()~t sh:1l1 he the total CIlSt nr ~,~rl-
m:ned Cllst tu the Owner of;rll elemenl.~ of lhe Pro~ct dl-siKned
Uf :.-p<<lflcd hy the Architect.
5.1.2 The c.on."itructilln Cnst sh;ill indu~ lhe COSI ;1( current
market rates uf l;rbnr and m:atcrials furnished by the O.....ner ;md
equIpment de."ilgned, specified, selttted or sped;rlly provided
for hy the Architttt. plus :I re-.L'iOn:ahle :illn.....mce for the Cun-
tr.lctor's overhe:ld md profit. In additiun. :l fC"~m;rble :1llow-
wcc for cuntingcr1l1eS $h:1lf he! Included for markct conditiuns
;al lhe lime of biddinR md for chanl4C'.s in the W'lrk during
cunstructiun,
'5.1.3 c.onstruction Cost docs nur il'ldllde the compcn:;;ltinn of
thc ArchitCl:t ;And Archltect'."i conllulunts, the cmt"i of the Imd.
rlgtuS-<lf-way. firuncing or othcr costs which ;m: the rC::;pOJl-
.5ibiJity of the Owner ;IS provided in Article 4.
6.2 RESPONSIBIUTY FOR CONSTRUCTION COST
.:'.5.2.1 It is recognized th2t neither the Architect nor thc Owner
.,' h25 control over the cu:;l uf l;roor. m;lterW."i or e4~uplllenr, t)Ver
: .the c.omracto(s methuds of determininK bid pricC.5, ur over
~umpclitive bidding. Ol;lrkel or negOlwlng condlllons. Accord-
Ingly, thc Architect c:mnot md docs nut warr.ll1t or represent
that bid:; or IlegOtbl~ prices will nm v:1rY from :lny esrlm:lle of
COll.5truction CO.5t ur evall.l:ltion pIq):lCcd ur :tRreed to by the
M'chitet:t,
~
~2.2 No flxed limit of Construction Cost sh:ill be eliublished
~ ;r rondilit1n of thiS Agreement by Ihe furnishillg. propos;&1 or
Cst:lblishment uf:l Projcct bl.ldRct. unless a fixcd limit h:lS been
~weed Upoll in wrirlng and !\18ncd hy rhe p:mle.~ herer/)_ fixed
iimits, it :lny, shall be incrca:;cd in the :unount ul m incrc:lSC' in
rhe Contl'2ct Sum occurring :lltcr execution of [he ComrilCI for
.Con:;trunion.
5.2.3 Any ProJecr hudget or fixed IImil of COI,stnlction CU.5t
may be :adju.5tcd to reflect chanRes in the genel'21 level of prlce.c;
In rhe C()ll!l[ruC[!on industry herw~1\ the; dale; uf sllbmis.5ion of
the: Cun:>truction l)o(:umcnts to the Owner and the d2re on
which pmpos;,aL~ ;Ire ,~nught,
t
. 5.2.. If ;.I thced limit of C.onslfuc.linn CC)~1 is l"l(c~ded by the
,; luwest rn)l1;! lidC' bid lJr nCJ4uli:lled propu:;a1. the Owncr .~h:1lI:
: !
.1 give wrlncn ;lPpfl)V;l1 of aI' incr~.c;c in such, flXcd
limit; : ,
.2 :luthorize rebidding <If rent:gtlri;1rirlK uf the, r~l)jecl
within :t rc-.L~()n;lhlc [illl~;
.3 if Ihe Pmjr:ct i:; ;&b;rl1dunC'd. termin:l[c ill aU:C1rdallcc
with Par:lll:r:lph R,j; or .
.4 coopcr:lte in revLslng [hc Projecl SCllpc:' and qwlilY a~
required [0 reduce; the (onslnll"tiun C.OliL
5.2.5 H the Owner Ch(IOSCS tu procccd under CI:m."C '5.1.4.4.
;the Architect. without addition:1l e~, :>md1 modify the Cnn-'
tr.lct lxx:uments :IS neccs:luy ltl l;omply with [he flxt!d limit, if
e:;tablished ;1."i :1 condltlun tlf lhis AKrc:t:mt.:m, The I1lt>difk';&lion
bf c'tllllr-.Iq Ot><:ulllellL~ sh;11I be the limil l.l the Archi[I.:et's
f,t:SI)\)IISihility ;&risinM llut uf the esuhlishnk'm tlf:l I1XCt.!lilllil.
frhe Ar<:hitect sh:lil !)(: cmltled (u t."llmpcn.-wtitlll in ;Ico'rllmcc
,wl[h [hl~ ^Mltt'mcot ror all services pt!rfllrme:d wherht:r or "llt
,he Const ructlon Pha>le i.~ t:tllllmr.IlC('(1
P.04
ARTICLE 8
USE OF ARCHITECT'S DRAWINGS,
SPECIFICATIONS AND OTHER DOCUMENTS
1.1 The nr.lwillJ4S. Spccilit:;rtjon~ and other uOl:umcnts prc'
put:t..l hy thc Archirct,"t felr lhi.~ prlljn'l ;af(; illSlrUllll~llI.5 (If the:
Architect's service: for use sold)' with rc.~pt:cr [0 [hi,~ Pmjl!et.
:lilt.! the Atr.:hir(:t.t .~h;&I1 be deemed lhl' authur of these UI)(;U-
mcnts anti lilull retain :lI1 C,'lllmun I;lw, ."it;&t~II(.Iry ;ll1d ,.)Ihe:r
reserved ri"ht:;, indlldinM the cnpyril(hl. The Owner sh:1l1 be
permined to reuln copiell, indu(ling reproducible copies, of
lhe: Arrhilc:ct's DrawinKS. Spccification.~ md other dOCument."i
for Inform;llion md r~fer(nce in l:llllllectiOrl with thc Own~r's
use :and OCl"Up-.u1cy of the Project. The Archirect's Dr.lwillg5,
Spcdflc;&[iorlS tit ulher ducumenls :;h;r/1 not be used hy the
Owner ur ulhcrli nn mher projCl'L~. fnr :It.lditir illS IU this I'roje:r:t
or for complelion of thi:; Project by others. unkli.s the Archlt..,c.[
is :aUjuUMed to be in def.1ult under this ^weelllerll, except by
:agrecment in writing and with :Jpproprbte eompen'i3[lon 10 lhe
Architect.
&.2 Submis:;iun or distrihution of docum~nls It"l meet uffici:ll
rcguJ:ltory requirementS or for simil;ll purposes in c(mnectlon
wilh the Project is not to be: con~tnled ;lS publil';aliOO in dcrull::l-
tlon of the Archhet:r's R:scrvc:d rtwns,
ARTIClE 7
ARBITRATION
7.1 Claims. di."ipl.lt~ or other mailers in 4ucstiun betwccn the
p;mies to this ^wccmC'nt artsinR out of or re~ring to thL~ Agn:e-
ment or bCC3ch thereof sh:1l1 be subje:ct to ;rnd dC'ddC'd by :ubi.
tr;\tion ill accuru:lCKC' with the Construction Indu$try ^rbi[r-,,-
tion Rulcli of the Amerk~;rt\ Arbilr.uion Associ2tion cW'rcntly in
dfct:t unlc:;s the parties mutually ~grCt: t.Jlhc:rwise, No arbitra.
tion :lrLsing OUI of t)r re;l;rtir"lM tu this A~reement,"ih:1l1 indude. by
~'on~ulid:l.liun. jiuinder or in :my mher rllaJlllC'r. ;m additimul
person or eml[}' nOl ;j party tu this Agrcement, ~!tl"<'pl by writ-
len l.on:;c;nt cuntaining a specllk reference: to this Agrccmenr
signcd hl' the ()wrlc:r, Architect. md :any Other Ile~)ll ur entity
sough I tu be joined. Con.'lCm [0 ilI'bitr.lliun involving :m :Iddi-
tiorul person or entity :;h;uJ ntH constituu: t:lnlS(':l\I to :trbitra-
liun ul my claim. dLspu[e or uther mailer in question nm
dcscrih~d ill the wrillen consent. The r,)ro:glli"M aMl'CemCnl 10
;\rbil r.ltC' ;lOd ()(hcr :lgreemCrl[S to ;Ilbitr:lll: wilh :m :1tJdillon~1
person "r elllity duly consented III hy tIll' parliC's t\) thL"i ;\grce-
llle;:1I1 shall be specifically eMorn:,;&bk in Jccordmce with appli-
cable l:Jw in :lilY COurl h;&vinK jurisdinilln Ih~rt"llr.
7.2 In n(.l event sh;Lll Ihe UClll:&IHlli'f arhitr-.ltinll nc maul.' :.Ifter
thc d:l[c when irls1itlltion of lc~:11 tlr C'l\1Ii1;lh1e pwcecLling.~
b;lSCd on such cl:lim. t1isp~J1e (Ir other m:IHt:r in <Iut:."iclIl w(luld
he h;ltr~t1 hy rhe; applic:lhle .';I;lt\lle,~ l.r IimitalilJnS,
7.3 The aW:JrLl rendi:n:d hy the :ubi[r:lt'lr tlr :lrhitr.1lm~ :;\1;\\1 be
tinal. :md jud~rllC'nt m;IY he emcred UpUll il in ;lrl:llruant.'C with
:lpplk~hle; law.in :ln~ Cllurt h"vin~ iurL~lli(tillll [ht:rt:uf.
ARTICLE 8
TERMINATION, SUSPENSION OR ABANDONMENT
8.1 This .4.KrCenlt:111 I\lay he [Crmi";lll:t.! h~' L'itht.'l r:Jny U(XlII
Iml k-:;.~ th:tn ';C\'t,'n d:IVS' wrjncn lluliec shlltllllth,: ulh~'r party
. AlA DOCUIIIDT 8111 . AUIlHt::VIA1'EU OWNF.R AKUIlTECT At; Rl!F.Ml!NT . 'rI1l1tD F.Dl1'Ill/l;. AlA'" , f.) PIH"
:rllf. AMf.RIt:i\N INSTlTUTF. l)f i\Ac:rIlTr.c'rs, I','~ .'1P\XI YORK AVF.NI/F.. S \XI. 11/ "sIIlNC, TllN. 11,(':, ~.....
.' j , .
WARtlINO: Unu.-..d phoeooopvln9 ~ U.9, COfIVI1Ght ~ ItlClIe """-1 10 !.pi ".....c;v1lO.,.
8151-1987 4
OQc-21-9a 11:40A
~I;II;J comprisin)( thc Clinlr;ll't<< 'r'~ I\pplic:Jtion ror P-.1ymclll. IhJI
llw work, III Ih~ hesl Ill' the ArchiICCt',~ kllowlcd~'. illlimnJ-
ii,m mJ bt:lid. h:L~ pn IJ<lrl"S.",,'d III the point im.li<.~.Jlcd ;lI'\L1th:.t
. . tlll:llily "I'll,,; Wllrk ,s ill ;IcclIrdanl'c wilh lhe (;1 lilt met Oocu'
. incnts. Thl" iS~lI:lnl'e 111':1 Cl.rtilk:tte I'm l':Jymcnt sh;ul not he: ;I
icprc.-iem:llion th:'1I Ihc Architecl h;l..s (I) Ill;kk. cxh"ustiv(; or
continulIll,S I In-sitc inspccti'Jns to check the qu.Lllty lIt ljU:!l1lilY
IIf the Work. (2) rcvie:we:J l'l "l,slnKtilln mt-dns, (T1l.thl)(,l~, lech-
niques, "efluClll-e" Ilr procedurCli. (:i) reviewed copk."ll or requi-
sitions ('t'ceived from Suheontr:1CIOr!l ;l.Ou nl'lleri:U s"J'lJ'llien; ;end
;uher d;ll:J rClI\le::led hy Ihe- Owner tu sub.~\2IItiate the \.ontnc,
lor's riRhI to payment or (4) a.';cenalned hllw or rM wh;J[ rur-
i><1:\C the C.Onlr:1Clllr ha.s u!led ml'lIlCy rn:vill\l..sly p;aid on
:ll'<<;"Um u( the (;unlr.ll"l ~\Ill1.
2.4.10 The Architcct shall h;.lve ;luthflrily lu reject Work which
dlJe\ nlll l'onf,lrtl'l lu the: Cuntrolcl DocumenL~ mu will havC'
:IuthorilY to require addition;.t! inspeclion ur lest inK or the
Wlltk whenever. in the Architect's tr.l.'\Onahlt: opiniun. it i.<;
l;eCl.~!O;lry or ;ldvis:lhl~ fllr lht: implementalion of the intent ,)f
i~\~ Cllnl.....I(,"f Oocument:;,
2.4.1 1 The: Architect sh:ill review 2nd approve: or take other
!lppropriale action upon Comt'"~lor':> submillals such ;1,<; ShOp
'Dnwlng.<;, Pmd\lct D-.4la and Samples. but only ror the limitcd
purpo5C uf checkill8 (or conrorm:'l.nce with information given
2nd the desIgn concept cxprCSl5ed in the Contt:ICl D<x:umCn15.
'jfhe Art-hltcct's :action sh:aJl be bken wilh such rC2S0ruhle
. promptn.es.\ 2.\ to t::IU6e ~ lk~y. The Architec['s approV'.4J of a
'~pc('ifk Item sh:ill not IOdlc:lte ;approval of 2n asscmhly or
whieh the Item Is a component, When professional cCllifi(';jtion
'uf pC'rformancc charaeterl.o;tics of m;tle:riaLs..systcms or equip-
'inent is required by the Coni net DocumcnL'. the Architect
sh:.a.ll be' c:nlirlcd to rely upon !lOCh certifk~tiOn to esl:lbli'ih th:u
the m:arer/:aJ$. SYSlems or equipment will meet the performance
l:rill:r~ re:quircll by the Contr:act Dc;1cumeJ\t$. . "
t review'
2.4.12 The Arch.ltect shall ,r., lpt Chqe: Orders 2nd Con-
struction Change: Dircctivcs. with lIupporting dcx:umenl:ltion
~d data If:luthorizcd or eonnnned In writing by the OWner 2S
provided In P:ar:a~phs 3. I :and '.3, for the Owner's approval
';ind execution in :Iccord2n~ wllh thc Contract DocumentS,
2nd fTllIY ;lUthOrtze millOr changcs in the Work nOt involvinR an
;ldjustmcntin the Contract Sum or an extensIOn of the Contr.ICt
Time which arc not ineon.'l.!slem with the: intent of the Comr;K:t
QocumenL<;.
;.
2.4.13 The Architect shall condu<.'l inspections [0 oktent.inc
the ctatCli of Suhs(2n11;l1 Comple:tion 2nd firu1 completion and
~h;uli:\.<;uc; " fin.u Certitkate ror P:aymcm. . , ,
\ . ,,'
',2.4.14 The ArchitectSh;i\l interpret 2nd decide ItI:ille[;;con.
.;t!rni'l8 pCff(Jrm;lIl~c of the Owner ;mll (;untractor under ttu;
ieljuircmcms Ill' lhe ClIIlIr.KI Documcnls on' wrillell re:,qucst or
t:ithtr the: Owner ur CUn\f;1c:tllr. The: Architect's respimse 10
~in:h requesls sh:1l1 ~ madt with reasonahle promptncs:; :md'
within ;Illy limt; limils awcell upon. Whcn makin8 such ilUl:r-
l~rel:'lioIlS and iniri:.ll dc:d.~ions, lhc Architect sh;u1 c;ncJc-.4vur io
~nlrc faithful perform:ll\t:~ by both Owner :'1111 Cont1'3Ctllr.
,~h~lI not ShllW p;lni:.lIiIY III r:;lhe-r. :md shall Ilol be liable ror
~esulls or imerpret:lli<<l1lS IIr llcc:isions so renlic:rcll in good f;lilh,
!
ARTICLE 3
ADDITIONAL SERVICES
3~ 1 Additional xrvit:c~ sh;aJ1 he provit1cd II' ;I.uthurizcl.l ur con.
flrmcu in wririnll by lh~ Owner or ir Included in Article 11. ;'ulLl
~
P.05
they sh;u1 he p;liu lilr hy Ill.: t)wnl'r ;l,sprovidl."\.I in this Al\rc.:-
mem, SUdl Allllilillll;c1 S,'rvin:s sh;u1 inl:luw:, ill addition to
Ih/)~ dc:scrlbt:J in P:lr.1ICr:lphs ,L! ;cm.l :\,j, hLlLl~el :'I\;llp~.
Iln;lllclal lc-.a:>ibiliry sludies, planninJ( survcys, environmental
stllllie:>, 1il1;,jfi'JPlI'j Ioij'.;l i~(l" f 'Iv' ,.' .. ljlllulitillAfiop l.'o<lrdln.:&-
lion or seP;l"'oIIC contr:.lCl<lrli or inllepcnucnI l.,(I'\.S\llt;II\l._, l'l)llt-
din:ttion o( eon.'trUl'lilln Ilr PfllJl~1'1 llI~n:&Mcrs. ucbih:d Om-
,o;lruclllll' CI~I c;slim:.llcs, quantity survey~. intcrlnr desiWl. plan-
ninK of lenanl or tcnl~ sp;aI:C;S, itlvClll\lrie:S of matcrWs or
equipmclll. f'lrc::p-.ll".llion or record lIrawinR-<;, :md my "ther ser.
vices nut olherwi'\e includcd ir' chi:; AMreC'mclll under B:J.~ Ser-
vices or nOll"UStom:lrily furnished in accord:mce Wllh ge:ner:l.1ly
:IC(:epleu archit.ecluraJ pt'".1oice,
3.2 If rllllrc cxlensive: reptcsentatllln ;ar thc site than ~
ul"Scribe<.l in SUhp;H;lgt'",Iph 1.4.<' i:; re:qui('t'u, suc:h addition31
proje':l rcprcsc;nlOllioll sh;llI he providet1 and paid for :IS SCI
furth in Articles 11 and 12,
3.3 A:; all Alklilion:aJ Service in connection with Cll;.angc.
Orders and Construction Ch;lnge Oirt:l'tivc:s, the Architect sh:all
prep-..re [)~wings. Spccific:ltions and other docwnen~llon and
data, ev:aJuate Contnctor'!! f'lmpc)s~, a'llI provide any olher
services /Tl:l.de neces:;;ary by sueh ChanKe Ordcrs;md ConSlruc-
liOn ChanRC l>ireclives.
ARTICLE 4
OWNER'S RESPONSIBILITIES
4.1 The Owner sh211 provide: full in(ormatlon, 'nduuinR a pro-
warn whlch shall :;c;1 forth the Owner's objc:ctives. schedule:.
cOIl.Stf:iinls. budget with rC-olSOllable cumingendes, and criteria.
..2 The Owner shall rl.lmi:;h :>urvcys de,<;<;ribing physical clue,
acteri.<;t1c~, leg~ Iimitalions 3lId ulllily IUl"'.llions lor rhe Silt; of
lht: Project. a wrillen Ieg;ll description or the: sile and Ihe ser,
vices of geOtechnical enKincers or olher consultants when S\I(:h
servicc;$ :ire requested hy thl: Architect.
4.3 The Ownc.r sh:1l1 furnish struelur:11. mechanical, chemic.!I,
air and w:llcr'pollution tCSIS, lestS for h=dou.<; m:n~lials. and
other l;abonlory and environmcOlaJ testS. in:;pcctions :and
rt'P()rt.~ required by law or lhe COnlrolcl Document,\.
4.4 Tht! Ownt:'r sh:aJll'urnish ;ullegal. accounting:md Insu".4nce
coun:;clinK scrvicc.s ;1"S 'l\:iy be nc:ee:s.wy :.t[ any tillle fur the:
Project, incJlJdillK ;cudiling services the Owner mar require I"
verify the (;ontr:ac:lllr'.s AppliGlliun:; tilr p;aymc:nlllr lu a.scerl:ain
how or rllr wh:ll pUrpl)SCS the C()mr~,-,l()r has uscd rhe mOrley
p:1lo.l by the Owner.
4.5 ThC' furCM(;ing Sl!rvil-rs. illfl.mnalion. surv~ys alld rqxm!l
shall he furnished :II Iht" OWllt"r's l.'xpcnsc, :mcl the AIchita."t
shall be c:ntilh:d III rely lI[lon thc ~C:l'ur;J('y ;md l.'OmplelC:l~
thcrelle.
4.8 Prompl written nmil'c shall bt" j(iven hr lhe Owner III the
Archilccl if the Owner hC:ClIllIl'S :aW:.ltc Ilf ;my f;1Uh lit o.lclh:t in
tht" Project or nilnl'lIIlf"rm:mcc: with Ihe C,IIUr.ll" \)ocuml.'flt...
4.1 The propo."l.'d 1;Il\~u:'BC: (,I' l.'Crtif1GllCS or cerrilk..Ilillr'\.S
rcquc.stcd of thc AIc:hitt"1'1 llr ^r<.:hill'lt'.~ l.'1l1\.o;ult;!llt:; sh:.lll be
submittcJ (I) lhe: Md,ilecl li,r rl'view :IIlrJ aprnlval ;ttlC-J.SI 14
day.~ prillr tLJ C:::'(~l.lti,m,
~ 8151-1H1
!'j
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AIA,DOClJIKNT 1,11. ABBKt;VIATE!l OWNliK-AKCllITP.l;T ,\\;RliIiMI:NT' TIIIIIIl f.IJI'I'ION' AlA" . G;ll~/l"
TIlE AMF.IUl;AN 1N.~TlTllTE IW AKl:ttlTIiCTS. I '.~'NIiW vnHK AVIiNtl~, N ~'., W"-~1I1N(j"l)l'l, U.l:. lllUlX.
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WARNING: UnIIclenMd ~1Ilg wtaWBa US. eopvrighI'-' end lelullject IlllI legal pI'OMcUllon.
Dec-21-9a 11:40A
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6i1 suhst:uui:lUy III pcrfoml in ~cunJ:ArKC' with thi: terms <If th~
~WL'Cn\t."" tl'1rl1uMh no f:lult of the p:uty lnll1;l(jnM the: ter-
min:ltion.
\
8.2 If the Profcct i~ su:ipcmJcd by the Owner for mUle th:m 30
~()n,<;ccutlvl! illY.'. (he Alchil~t shall be compel\$;ltcd fur scr-
~lce~ ~rfnmle:d prior tu nutice of .~uch suspension, When the:
Projc:ct is resumed, the AfChite:l:t's comperwtlon shall be eqult.
:Ihly :IdJu...ted to provide for cxpensesin(."Urrcd in the Intetl\lP'
rlon and resumption of the: Architcct's services.
I
1.3 ThL, Agtttment rmy be termJruted by. ~ Owner upon
r10t less thm seven ~ys' written nOtiCe 10 the Alchitect In the
event th;atthc Project is permanently :m:mdoned. If the: Projcx:r
ci :m:mdoned hy (he: Owner for more th:m 90 cOrul<<Ullve dayS,
tix Architcctmay termin2te this Agreement by giving written
nOllce.
8.4 F:wure uf the Owner to m~e p-.lymenlS to the Archl[eCt in
:kcnrd;lnec with (hi:; Agreement sh:ll1 be consldereu subst:mtia!
flonpcrformance and au.<;e fot ~t1l'\Ul;(tiun.
'.$ If the OwJ"ler f:li1s to m:lke p;aymcnt when due the Archi.
tCct for sefViccs md expenses. the Architect may, upon seven
~ys' wrlncn notiCe to the Owner, suspend pcrfom\;Ul(;e of ser-
";~es under this Agreelllc1lt. Unless payment in fuU i:; ll:ccivrd
by the Alchitc:ct within seven wys of the d:uc: of the notice, the
lih.,pen'ilon sh;&ll t:lke effct.t without funher notlee. In the event
i-1f;j suspension of services, th~ Arc.:hilc:Ct :shall have no Ihbillry
, to the Owner (or a~l;ly or dalWlgC aused the OWllcr because
df such su:ipcnsion of services.
1:
.~e In the event of terminatJon not the f.Ullt of the Alehitect,
t,~e Architc:et slW1 be eompen...;;IteU for services performetJ prior
to rermin:.\tion, together with Reimbursable Expenses then due
ahd all TermJnalion Expenses.
I:, '
8~ 1 Termin:ltion Expcnso are in 3dditlon (0 compens:uion for
~ic md Addltlorul Services, :lod include expen....es which ;arc:
~reo:IY ;mrtbUl:Ible to termin:ttion, .
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ARTICLE 9
MISCELLANEOUS PROVISIONS
9.;1 Vole'!... otherwise providC'd. this Agreement shall be gov-
cf(ned by t"!c law of the prlnCipoll p1:lce or bu..lnes.~ of tile:
Nrchitcct_
~12 Terms in thi.s Agreement sh,.IJ h;jve the same me-mii'8,;IS
: ~~().'IC in AlA Documen[ AlU I. (jener31 C:nndiliol\S of the Con-
1~:iI,:( (nr Construction. current :.IS IIf the date of thi~ Agreement.
i3 CaU5C.'1 Llf ;!CtltlLl 1'lt;:(we:Cl1 the p;drtles [t,) Ihis ;Agre~mem
p,crt:lining [Il :iI,'ts or failures to 3t:[ ~h;jll be deemed [0 h:lve
4'l'runl :md the ;applk~hle ~[;jtutc:s of linlit:lIions sh:UJ ebm-
f]}cncc [() rUll rlnt,l;jter th<ln either the U:lte of Subs[:m[W Com-
,i)ction for acts or f:lilun:s to :let t.In"Urring prior (I) Subst:mtia!
~,llmpletion. or [he d:.l(C of i~~u;mcc of the lin;jl Ce:rtit1c:uc (or
I~~ymc:lU fnr actli or f:1ilull"S to 3Ct lll'curnnR :Uter ~llb5t:&l1ti;aJ
(~lrnrlt:lilln.
914 ,.he Owner and ;\rchi[r:n w;live all tlgh[s :tJ<l:lins[ ~:It~h
tiiher and ~1~IlSI Ihe nmtraUur~. consultants. aRcm.~ and
~mplllYl."t:lI lit" [he ulher fur L1:un:l~, hut only tt> the cKtent
,'{lv(:r(:t.! hy pmp(..rty in...ul'.lIlec t.Il1rirlK (:ons[rUC(iurl, eXL't."p[
"ut.'" l'il(h1li a.~ they m~r h:.lve III lh(: proLCCU.~ Ill' such inSUr:lllce
~1S<:t Itmh in [he ellitillll \,f AlA n,,~:ument A.W I, Gener:1l Con.
P.06
dition:\ or (h~ tmiir:.lLt for Clln,~lruclilm. .:urrcm a..; uf the t.i:&(e:
t)f [hi.; ^wc:cmcnl. Tht.: Owner and Archile(( e:;lch sh;dl require
simil:u waivers frum their L'nntt'JC(t)l'S, consu1tmts and 3gcnL',
9.5 The Owner :Illt.! Architect. rc,~pc:ctivdy. bind themselves,
their p-.IJ'tlle:rs. success<lrs,. a.'iSigns :&I1d I~g:il rc:J'lrc~nlalivCS 10
the other p:uty tv this Agreement :And to the pannc~. sue-
CCSSUr.i, assigns and leg;aJ rcpresentatives of such other p;arty
with re:'ipect [l> :111 coven:mt.'i Ilf IhiS Agrc:cmc:nt. Neither Owner
nor Architc:ct sh:1ll ~ign thi:; ARCeemc:m wl[ht1ulthc written
consent of Ihe Other.
9.. ThiS r\grccment reprl;.,'CnlS Ihe entire and intcgr:llet.! :IgI'CC'
llle:nt between the Owner :md AlchitcC( and supc:txdc., :ill
prior negOtiations. represenUtions or :.iKCCCments, either writ-
ten or urn, This Agreement m:lY be :uncnded ')Il!y by written
instrument signed by both Owner iUld Architect.
9.7 NOlhing conl:lined in this Agreement sh:1ll nC".lle:l contnc-
[u:U rcl;(tiu~p with or ;1 Clll.se of :iction in favor of a third
party :againsl either the Owner or Architect. .
e.8 The'AiThitcct :md Archlu:t."t's consultants Illu11 h.we nu
rc:sponsibility for the discovery. presence, h:mdllng.. rcmov:il or
di...pclIIJl o( Or exposure of persons [0 haz:udous matc:rl2!s In
;Ally form at the Project site. indut.!ing but nor Umited to
2SheSlOS, ;lSbe:;tOs products, polychloriO:.itctl biphc:nyl (PCB) or
olher toxic !lub....l:IIlCCS.
ARTJa.E 10
PAYMENTS TO THE ARCHITECT
10.1 DIRECT PERSONNEL EXPENSE
10.1.1 Direct Pel'!lOnnel Expense L.. detlned as the dirCt..'"I
sal2rics of the Architect '5 pc~nnel eng:lged on the Project :md
the purtion of the eosr of rheir m:mwtory and cu..tom:lty l.Xm-
trihu[ions :mt.! benefits re\;llcd thereto, s'Lch ;r.s employment
l:.IXCS and other Sl:.Itutvry employee benefits, insLLI".1tlee, sick
lave, holid:tys.v;ac;ation,. pensions :and similar conuibutJons
;jnd benefits.
10.2 REIMBURSABLE EXPENSES
10.2.1 Reimbursable Expcn:;c:s include expe:'lsc.s incurred hy
the Archi[eet irl the imcrc:st of the Project for,
.1 e~pcllsC of transport;lllon and living expenses in con-
nection wilh ullt-of-town trJvcl 3uthorl...el1 by thc
Owner;
a2 . kJn~ tiifit&llf!t! (J JfflfflYRi.z.uil'l~
.3 tee; p;tid fc Ir ~c("urin8 ;1ppro\':u of ;1urhori(ir:~ having
jurisdiction over fhc I'micel;
.4 reproductions
.5 post:lRe lilt" h"lIdli"~ Llf Dr;lwin~~ ;H1U Sp<:ciflc:llitlll.~;
.8 ...~(tUi~ ul" no. ~..I:......, ........1\ rcqtJirj"A nillMt:r U\.h. [l.~
tar NILt, ;f ..vr~~liL{d h;r fh". CJ"'In;;:-.-.
.7 AlRlil!ri~~lltIltl '.llKldl relIIA...ll::cll"l: tn., O~m."
.8 cxpense of :adtlilion:tl in~llr:lncc ':Llllr:ragc or limil.~,
indudlrl~ protcSSillll:11 Ii:.rbilify in.sul"'JOcc. rcllllC~[l'll
hy Ihe: Owner ill CKCL'SS of flul ntlrlll:lJ/y Clrri(:d h\'
Iht:' An:hJtL't'1 ;1IIt.!l\rdlitcu's t:l)Jl.~llh;\I1t1i; :Intl .
.9 ''''Jf~Flr~ uf l'IUHfhl(~f ,.ftktJ \krlil(ll tUl~ d"ldtiA~ t:JJu;J"
Illl!'llllimt' Wht'llll:.......1 in eUI\.k:t!tiulI ww it" Ihe "rnico.
~f 8151.1987
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AlA OOCUIIDIT .tll · A8HXl:VIAT~1l UWNIiM "IlC~ITI;C" !,l,KI::I;Mf.NT . 'l'1l1KIHl>lTlllN . o\IA- . '.~lI\lI\-
'..HI:: AMERICAN INSTITUTE ()I' ARCIlITECTS. I':".\~ Nf.W VLlll" All f.Nn-:. N.'I', WMltlNI,TON, [),C. !lk.li\
I
WARHIt.iQ; UnUcen.d phollDcoVVlng ~ u.s. ~... end .. ~ 10.... ..-",Ian.
Dec~~1-9B 11:41A
1:
! ;
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,',
r;,0.3 PAYIIEN'TS ON ACCOUNT OF BASIC 8EfMCES
".\.
;i(10.3.1 An initi:ll p;&ymcm ;IS SCt forth in ~gClph 11.\ i.\ thc
;:minimum payment under this Agrcemc'nt,
:;~o.3.2 Subsequent p'olymcms fot Bask: Services m:ill be m3dc
:.~monthly ;U'ld. wh~rc applicahle. shall be in prupurtion to :;ct-
rr:Y\CC5 perfonned within c:<Kh phase or scrvh:e,
) <10.3.3 .f and to the extent that the time initWly esublished in
:'Sub~ph 11.5.\ of this Agreement Is exceeded Ot ell-
. :tcndcd through no fault o{ the Architect, compensation {or any
!krvicc:; rendered during Ihe ;U1d1tlonal period of dme s~ he
:,:l~omputcd In the manner set forth in Subpar;l8CIph 1. .3,;Z.
;~
:;'110.3.4 When compc1lS;ltion is based on II perccnt:.lge Qf Con,
j:~su\lctlon Cost and any portiOns of the Project arc deleted or
;>otherwi:;c not cOl'\St\'UCu:d. compcn~donfot those portions of
;fthc Project shall tx: p;ly;ablc to the extent services are per-
:,;fonncd on those: portions. in accord;&nce with the schedule set
<~,
P.07
forth in Subp:u:lKClph I I.l.l, b-oL5Ct.llln ( I ) Ihe lowest bon.. 11lk:
bid ur ncgl,,ltl:lred prop'~. or (2) if no su(;h bid or pruposal is
rccclvoo, the must recent preliminary CStim;&tc of c.onStfUl.'\lOO
COSI ur OetailcU cstim:&Ic of Cunst1'Uctlon Cost for such por-
tions of the Project.
10.4 PAYMENTS ON ACCOUNT OF AOOmONAL
SERVICES AND REIMBURSABLE EXPENSES
10.4.1 l'aymcnl5 on ;lC,ount of Ihe Archltect'$ Addldonal ~-
vices and for Reimbursable Expenses slull tx: m:ldc monthly
upon presentation of the Architect's statement of servil."CS
rendered or expenses Incurred_
10.5 PAVMENTS WfTHHE1.D
10.5.1 Nu dedUl'liun:; shall be: nutk: from thc:Architcct's com-
pensatlon on account of !ium!i withheld from payment 'I to
contr.ICtor$,
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.'111
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!;:ThC' Owner sh:ill compcns;ue the AtchftCCI ;lS follows:
,~:! !
i!~;I1.' AN INITIAL PAYMENT OF Ten ThOUSAnd . Dollars (' 10,000.0_0
;e~ be made upon execution of this ~t and credited to the Owner's acCOunl ;ll final fY.1ymcnr.
:}:,.
i~i11.2 BASK: COMPENSAnON
J'
;~i, 1.2.1 FOR BAS'C SERVICES. as dc:slTibcd in Article ;Z. and any other services included in ArtIcle 12 :lS p:Ut of naslc Servic~. B~il'
i;!iCompcn.'l:ltlon sh:ill be computed l' follows: '
::~(I..-r bcuu uf Wf'f~IOfI, irrcJudi'lR JllpuJaJed SlUm, ,"uJltpl~ or~, ",1</ itM:rt,iJ.y (JIJasa III 1l<b;d./JtJrl~ _'buds uf rompmstJIton apply, II 'U!C~ry.)
i~H ,-
~ 1. for Construction Documents and Construction Contract Administration
,;;~' as described in attached exhibit "A", 5 pages, .dated 3/13/98
}\ compensation Shall be $12')1, 764~80 elmbut'ssbles not to exceed .$ lD,OOO.OO
., 97, 7'1.1.
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ARTICLE 11
BASIS OF COIFENSATION i
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::.i:.1 1.2.2 WhC'rC' cumpensalion i.~ h1'ICd no ;& Slipul<lll.-G sum or pcrccnugl: of CUflstruuiun Cost. progre....~ p:lym~nls for B:L~ic SCt\'il:~~
:;:in each ph3.~c ~h~lttltaJ Ihe (nll\lwinM percC'nt:&gcs nf lhe Inial B;isic Cumpensation payahlc.":
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;1:la>~;E)(istinq Conditions Surveys
-.;,
. :C"I1SltUCtitl'l Do\;um~I1IS Ph;!:;..:;
. i:Conslruction Ph;L'iC:
,:TllIaJ B:.L~lc C"l'lpI.~I1S:l'illn:
, 'I} w,'i. 00
"Bi~3.00
3"1) :1.17.00
r '
pcrl"~1l1 (1 5 'X,) $
pcrccm (50 'x.) $
pc:m:nc( 3 S 'Y.~) $
$
I Ill,' hun.1rt:t.I pen-CIlI ( 11)1)'.1<,)
:lUA DOCtJ_NT .,11, . "'\ItK~VIATliU (IWNf-R.AKl.:HITJ;CT A' iRIOEMf-;NT. nURl> IiDITlON . AlA. . IQ (-1>17
:T't~ AMERICAN INS"I'11'I1l'f. ,)F ARCII1Tt:CrS. 17,'~ Nf.\lt YOKK AVF.NI:P'. N,W,. WASIlINC,TON, D.C. !(..lh
.:1
8151.1987 8
WJUlNlNG: UnllcenMd photocvpyt.. vlol81M u.s. co."rtgnt '- Ind I, IllDJeel to hili_ II_lion.
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Dp.c~21-9S 11:41A
P.DS
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11.3 COMPENSAnON FOR ADDlnONAL SERVICES
:,11.3.1 fOI( PI(OJECI' REi'kESENTATlON IIEYOND IIASIC SERVICES. ;l~ dt:sl"riI1..:d ill 1';II':IW;ll'h \,':. l'lIll1l't'm;lllIlll !'th;IJI ht'
if: l'lllllpUIt:lI ;LS Ii .1I"ws:
Not required for this project.
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11.3.2 FOR ADDITIONAL SEI<VICf.S (n' THE AKCHITE<.;r (lruvitkd under Aflidc.' ,)l idc.:ll[itic.:d ill Anidt: 12. compcns;uil.Jn !'thall
be C(lJl))'lUlet,l ;1$ rnllows:
i. (IIUM'I 1kb1!J uJ L.(}",ptm~II(U', ,nduJ"'N rtlln RHtV",. ,"""i/",.s uf l>irt'f:I p(-r':(~."l(oi J.~""UI. fur Prill':;I""'." and IOIllI"t1W..O!{. '"Jlltl "'.""1\' l'ri,tt.JIK,I,'f tlud du."JirJ.I'
"...f>ll>Yft'S. if rrquirwJ, IJ....,ifv ~_ilu: .n,'/.:'" '" ..",/.:1, Ildfll,uldf ...",l>t.d:l '1 LI)llfP<',ljUlliJH "pply. IJ /I<"'<'S,d~'.j
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i,:i 11.3.3 FOR ADDlTION"I. SERVICES Uf CUNSUL T ANTS. indullinK ;,ddilillll:il SlnJl'tur.d. mc:ch:mical :md clct:lric:1l engineering Set-
(; vlce!!;md those providcd undcr Artidc 3 or identificd in Article 12:L~ p:ut of Additional Scrvicc!l, ;1lllulriflle (If one And one tenth
:~' ( 1 ~ 1 . . ) lime.'~ the am~unls billed, lu 11~t: Ardlitn't for sUl.:h St'rvil.:C:;. t:..c.e.t'f ~ "4,~~ . ~ .2~ -~,g
'.:: (lu",,'ib' sl-if" ~'VI"'J( /1) L''''''''''"'''.< III Arl..l.. I.!. if rrquln,d,j +:z60 ([;r~ '
11.4 REIMBURSABLE EXPENSES :
11.'.1 FOR REIMRURSARI.E EXPENSf.S. :IS lU:.slTibcd in l"oII".IWOlph 10.2. :Ind :Iny ~Iher ilems includcd in Article 12 ;L, Reilllhuts;lhl~
Expc:'nscs. ;a multiple: ot' one and one tenth (1.1) limC!i the eXpe"\'.;c,~ i,wurr.,d by Iht' Ard'ill"Cl. the
:;, ArchlteCl's employees md conSUI[;mL~ In me: interest nf lh(: Prnjc('l.
'; 11.5 ADDITIONAL PROVISIONS
"
: ,:: 11.5.1 IF TIlE "ASIC SERVICES nlVcrc:d by lhis AKll"t'mcnt h:l\'c nm tx:cn mmplett.'d wilhin n/ a
\ ( n/ a ) monlhs of tht' d:llc herco!'. throu&h nil f.:1ulr Ilrlhc Att~hilt~l'I, (:)(Icn~illll I)f Ihe Architt.'~t' s ser\'ices ht:YlII'c.llh;ll liille ~h:lll
: he compc:rLs:lted :L~ provided in Suhp:1t".Igt"Jphs 10.,\,,\ ;and J l..~.l.
r 11.5.2 Paymcnls arc due ;md ~)'3h1e th i rty ..50 ) days rrom the.' d:nt.' lit' Ihe Arc:hi[cc(s inmi('."
.}', Amou",s unp:lid t h i r t y ( 30 ) d:IY!l aller [he i,'vllil'c wtt: shall bt.':tr illlcrt:.~t ;11 the r.de t""~rell hdo..... <>r
. '. ill rhe ;,b..o;cncc: lhcrctlt' :at Ihc 1c~ r:ue prevaJllng fn)tll hllle II) lime al the.' princip:1.l pl:1t'C nf hlL~ines~ (If the AIThitL'\:1.
, I'rfJWrf rrdr 111 i"/lorrJlI UJ(,......J u/_ur J
(t ')"1'" 11111',\ ..,,,1 ".."..,r,'''WIIL\: ,,",,'4'" 01\' ,,",..h''-II' 1',.,,11"11 1",",iI"N ,'.1", ,"11I1"," :..1,"1' ,WI.II'I(."/IUlL\III,,..r. "'tit; I,"",'I'II,J """" 1l~,,/,""'1I..;,1I "ll' t unit.'.... tllle/, '''1'/''
I.., ',"i j''''h ,J",I/J,,..,_...' "I h".,:"""",;, (~". "...'lfllf'" 01 Ih,' ",.",....', ""1' l'/~lf'd.__',',' ""... ull'" tho ru/j,/"I' "f tJr,," 1""""1,'"11 ,II '1'4\ '1'1 I.,.'!.", "", Ill" ,/,",,',1 'I(' '''''/u,U",1 w,.,,,
"'''1__\'( If' "t'/,'IIu'I,\ fI' "/I_li/h,III1',,)", uuil.d,.." '.1u,rd"lJ! r'e'lltin."wllIJO ,II,",' '..' 1I'"I,..ill "",',:III."I'l'.\ """""11""".' )
11.5.3 The r".I[C;S ;and 1l1lllliples .'i(.'1 runh rur Addilional Sl:rvit.'L'li sh:.LI1 he :1""11;111)' ;ldjll~lt.'l' in ;ll'ClInl:llh',' wilh '1Ilmul 'i:1I:Ir\' rl'l'ic.:\\'
pr;ll'lin's ",. I/lt' Archilt.'l'l. . .
N/A
AlA OOCUMENT .11' · AIlHK[VlATF.1) t)WNP.R,AkcIIITKT ,\I;MI'.F.MF.NT. n tikI) f.1 'lTIIlN . .'\1 A . .;<J I'lH-
Tilt:: AM[KICAN INSTITl'TF. Ill' AII(,IIITI::l:TS. I-.'~ NF.W voRK A\'F.Nt:f.. N.W,. WASllINt;TlI"', II C. !l.~~l
B151~1987 7
WARNING; U'*"'-d pIIo~1ng ~ U,s. ~ '- and......... ~...... pI'OMC;ldlon.
D~c~21-9B 11:42A
P.09
ARTIClE 12
OTHER CONDITIONS OR seRVIces
tl",'OC.'" ./c.:\( ""t/ll"'.... .., ,JJac'" ~('n.t. ,.,., ,,1,-,,(;/)' ..1.41,1"'1'"'" "..."tl.,....: ",..,,,.1,,,,,,,,111111 II.L,i, (.;""III.',hU(;'", ,,,,,, ""d'/II "',Il,h ". tl"'/ltf\'I'U'.U ,"k/ll'''''''''',,'';'''' '1"'IIt,,
/l/l"//I.hl ;n 110;" ,'IK"I~'''''''".)
12.1
Add to Article 2 the following:
2.2.3 Field surveys of existing conditions sh~11 be provided
by the Architects as part of the basic services.
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r~emem emered inw ;1,'; of the: d'lY and ~'car nest wrinen ahovt:.
.m,;0rp ~/f
~ir.:."~ ~ -'1--
~,~.~. $PF...AJ~ ~-ESlW
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(("/II/ly/mllllt. "W/III/t.)
mt CAUTION: You should sign IIn original AlA document which has this caution printed In red.
'. WW An orlgln.1 as.urea that Chang.. will not be obscured a. may occur when documents lire reproduced.
AIAOOCUIll1!NT .,51 . AHIIIl!;VIATP'l)( I\lINER.ARClIITF.I:T "';Kn:MENT. T1I1Rr. t:llITION. AI.." . '\;'1')11-
'fliP. "M~.MI(:AN INSl'ITlITF. \lP o\kUIITEt:TS. l'.\~ NEw YOHK A\'F.NI''', ;'<i,W.. WASIIlN(iTllN. D.C, JIUW.
WAAfaNa: Unl--.. phoCoco,.,lng WIG..... us. ~ '-.nd la'lIUtItId 10"'1 ~\Ioft.
8151.1987 8
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CONTRACTOR'S CONSENT AND AGREEMENT
This C~Etractor's Consent and Agreement is made
December 9!:L.., 1998, by Bradley Construction Co. ,
("Contractor"), Augusta, Georgia, a political subdivision
State of Georgia ("Lender")
as of
Inc.
of the
WHEREAS, Contractor has entered into a construction
contract (which with the HOME Addendum to that contract is
referred to as the "Contract") with Olde Town Associates, L. P. ,
a Georgia limited partnership ("Borrower"), dated November 10,
1998, pursuant to which Contractor has agreed to serve as the
general contractor in connection with the rehabilitation of
rental housing at 49 different sites located in Richmond County,
Georgia, which are collectively known as Olde Town Apartments
(the "Project") i and
WHEREAS, Borrower has applied to Lender for a acquisition
and permanent loan (the "Loan"), to be made pursuant to the
provisions of a Rehabilitation Loan Agreement (which agreement
and all other documents and instruments evidencing,
guaranteeing, or securing the Loan are collectively referred to
as the "Loan Agreement"), the proceeds of which Loan are to be
used to finance the acquisition of the Proj~ct; and
WHEREAS, Contractor's execution of this Agreement is a
condition precedent to the making of the Loan;
NOW, THEREFORE, in consideration of the ,foregoing premises,
the sum of $10.00, and other good and valuable consideration,
including the direct and indirect benefits to Contractor from
the making of the Loan, the receipt and sufficiency of which are
hereby acknowledged, Contractor covenants and agrees with Lender
as follows:
1. Contract. Attached as Exhibit A
copy of the Contract. There have
modificat;ions, transfers, or assignments
are not attached to Exhibit A or otherwise
is a true and complete
been no amendments,
of the Contract that
disclosed to Lender.
2. Change Orders. Contractor shall not enter into, or
permit to be effective, any change order to the Contract or any
of the plans and specifications for the rehabilitation of the
Project without Lender's prior written consent.
"
~
3. Consent to Assignment. Contractor consents to
Borrower I s assignment to Lender of the Contract and all other
documents pertaining to the proj ect that may be referenced in
it. I f Lender exercises its right under the Loan Agreement to
take over the rehabilitation of the proj ect, Contractor shall
perform its obligations under the Contract for the benefit of
Lender and in accordance with the terms of the Contract and such
other documents involving the Project to which Contractor is a
party. Upon request, Contractor shall provide Lender with any
information required of Contractor under the Contract (whether
or not Borrower has requested such information) .
4. Governing Law. This instrument shall be governed by,
construed, and enforced in accordance with Georgia law.
[Signatures on following page]
Sent By-: The Drummond Law Group, P. C. ;
..
404 898 1201;
Dee-23-98 11: 11AM;
Page 2/3
IN,; WITNESS WHEREOF I Contractor has executed and sealed this
Consent' and Agreement as of the above date.
BRADLEY CONSTRUCTION CO., INC.
By,~Q
Name: R;rn~rQ B Funk
Title: President.
Attest:
Name:
Title: ~prrpt~ry
[SEAL]
'".,.,
,.."'.... .. """1<""'\ l",."....,
." """"l'q .."....."!...;... (' ....
.".... ''\, 't:t~~\..~-:--.:___ rr -. >..
OQc-29-9B OB:41A
P.02
.r H J
AttlllGAIf
IH$TITUrt
o ,
A a C H , T 2 C T S
I-
., ...
AlA ~ AWl
Standard Form of Agreement Between
Owner and Contnlctur
wMrfIUw basis OJ ~ I.J II
STIPULATED SUM-'
1117 EDmON
nlls lXJCUM6NT /MS IMPORTANT LEGAL CONSBf}(JENCESt CONSULTATION WITH
AN A.7TORNEY IS ENCOURAGED WITH RBSPECT TO m COMPUT/ON OR MODIFICATION.
"",/9117""" Of 4CIiI ~, A.lOI. ~ a.wt....... ~jt;r~. II......
(. '*' tItK7 .. . ." ........ Do rtOl ... wll" o4Ir ,..., cuM"**' ..... dill ... IllIlIa nMi1jfall.
tNI-...- '* ""'.pprowd Ind ~ by 'l1Ie ~ICV GcanII ~I1(JCIOtI 01 AlNrb.
ACIt-.....HT
made as of me 'lDll'H
N1nctcen Hundred and NINE1Y ErGHI'
RI..... me Owna: OLDE "RRf ~, tp
~.., ~ 222 Clematis Street', Suite 206
WeSt Palm Beach. FL. 33401
day of
rummER
in Ihe year uf
2nd the Contractor:
~... .....,
BBADl.XY ~(%<l CD.. INC.
21.20 Dret.I Street
Clemwacer. FL. 33765
The ProI<<t 15:
~"".~
Rer1ovad.Dns and Cansaucd.on at: dw project known ..
otnE 1UfI; APAR1l1ml'S
Augus ta. GA.
The ArchJtect is:
(,,*-.-II *"*-I
SPElmt. ~. ann N"l{ ARQU'IF..Gl'S'
200 South Tarrahoga St.
Perulacola. Fl.. 32501
The Owna and ComDctor agrtt ~sclfQrth below.
Coltfl\lht "". 1'1'/ In,. 19~". 19'1, 1958. 1961. I~J, 196'. 197", 197'7, el19.' by".. 4mc1'kwllftJd1ult 1>1 AtcN,
ICCU. 1'5' t4cw Yoct A~wc. 1<1.... '. WNh"'~ D,C. .10006. 1Iqt,0GUcI~ 01 ~ _crlal hemn ot ~I'" ~Ullgu.."
of 1bI ~ ~ ~ ~ of Ule AlA IIlDalCl ,he C'OClyrtarn ea.. 0I1hC UnhCCl SOIa ~nG IlIql ~ IUftjorcllu
lqJl~ '
""'OQ . .," · ~0NraAt:rl)<< "I:"~. l'1tItnlc .on~. AlAII . elm
nta ~lIIITJT1JnOfAa.ou'l'llCh. 17~INlrWY'OaIt4VDC\l1, ",w., 'V4.>>~ D.C. ~
A10t-11a7 1
Oec-29-9B OB:41A
P.03
~1
1M COInMCT DOa-WNTI
The CaI\Ina 00l:1ImCDD ClDftIIII oIlb1a ~~.". CcndIUons oIlh1:: Carllna: (~~-T .net uchu~).
Drnrtnp, ~... AddIrQ IIIurld pItar to aet\IIIQft oIlN1 ~~lCltll. cMha CIOaao:i.. IIIIed tn,1NI Apeeftlelllr and
MOCSIfbabW -- *r ..~ 01"* ~~ftI1 ~ Iona Ibl: CarlrrIa, MdIl'C. AiIJ' I.J8rI at &he CUnlna .lIl1lKhed
to rhII ~ II ~ _ol or ~ ~ The CaNna 1'qlISll.~~ !he m&ft .. .......1Illd ...~~ ~.". ~ herecu lINI
--....dt. prtar r.o!D*UDN. ,~...-~ ~ .. or 4R'.b...... dIbn wnaen or 0fII. All cnw~.ciO.. 01 b CanIna Dacumerua.
od.-lhM ~ ..... .. AIdde 9.
M11Q.I! ,
'ntI WOM OF ,.... ClONrMCT
tlM: Corwa:Iar .... eII!IQlC _ ann Won dala~ In dle CoNtact Doc:urncnu. ClIQq)IIO dv: ~ 1pdIltJIt, IrIc1lcfifd In
I1le ~hXI Daa.a.rq ta bE die MIpOtlIIbIIcy 01 cxhE:n. or . ~
.&a1"Ir!I . I
bAftOllOOJ IIC'~ Il.r QID~ANnAL'~
~.1 11E ~ 01 - - eN .. * dlIIt trorn wNm dle eom.:t nnr ol,..~. J.2 II ~ -SIND be Ihe dIIc 01
- ~-.. .1Inl ~ ~ uNIIIIa dlIItmnl Cbte IIIa1&d beDw or provtIb'IlI sna b....to k ft1Ied M\ a nouce
10 "..., ...., b'J' ... Owr8.
flIIM'I-...,., I' .. ~ Ir..,... ".. ... .... *' ...- -. ~ ....r -. _.., ..... ". .."... . ...... ..",....,..,J
DA1E (J" ~ SHAU. BE FIXm IN A lCI1~ '10 ~ T~Jm BY aau.
~ Ihe diIiiM Dl ~_.. II ~ b" . nDlb: 10 pI'OCC:II:d ....,. bf die 0wnIw. ~ ~ eh-'I M4lIy ~
OWner In ~ ..1aI.. Jhle..,. bdbft.w ... ~ .- -en lID pmNI die dmdJ",oI _ ~'J kftI
1lIId adIIlr ~ .
U '%be ConIna:ot ... ~ ......... t"~~dou 01 thlr c::rJdR Wmtr ftOC lirei' Ihm
r--.......... ............ "............. ........ J I." ~.., .......... A:.Ja".". III" - -v~... uf.....
......- "'.. .... ,- ....~,. rtof 0-- D" J
1W HlllUED SEVENIY ~ DAYS FRai N:7rlCE 10 PlV.J:;w
. &lUbfecl1O ~ "" of... ~ TIIM . po......,., .. Ihc Comna 00cumcI...
r-,. - .l>~ ~...,. ,.,,.......,....... ......... .. J'ItIII-,. ....... _ ...,}
iOR EAQ{ BllIIDOO mr nJl9D OVER al mE ADJUS'1'm M1E OF O'H'ILTIaf,
'mE LIQ]IDr\1:m 1lt\MtaD SHAll.. BE $25.001 mJX./ DAY
~
MI JI ~ R - ... · C),j J .ClOIil,1WlCtCla A60 -It . nPIU'TIl IIDr'r1CN . 11.\- . .,.,
nil ANIIUCP" IN1TIVn or AIQUnaI. I'".... ~AVINUl. ......~ ..~ .4w.. D,C. ~
AtOt.t_ ,
Oec-Z9-9S OS:41A
P.04
M11CU .
00fftMCT ....
".1 1be Owaer .... pa, tnc OWnaor Ia aatlDTl ftnlllOt _ Canuactor'~~~ oIlhe ComnICI U\e CQftlna Sum 01
'IlIBEE !fiT l TCJiI UtR!Z lUJRmD SIXImf '1lIlJSMi) IUDED nmttY NINE DoItas
(I , - 316 . 1...1<1 .00 ), ~ 10 adddoI.. IPd dNuaJorw . pmykJrcJ In lhI: Un-
llWa~-
4.2 The Ccwna Ium"\wed \IpOf\ dW ibllo..~ -.... "any. ~ 1ft dqcllbc:41n the CGnana Doc:um.:nll and ;loR;
bem1 ........ bp Ihe 0wNr1
,...... ---......~ "V .. ----..... If...................._.... _"... a..- -~ , I 11u'" _.........,
*' .......... --.......,......-.-...... ... -- /fir'" - ... - --........ _ II-'~J
4~ UnII.... It any. _. aMIoMr
l.mK SHAU. BE CDI?LE1m ON A UNIT' PRICE BASIS REPU.X::'m) ON 1llE ATrACHm
S'I"Ambr (p VAUJPS. (EXHIBIT "AI') ~ HARD cmr REr.AP. 15 papa
- ~ T a,., . O-11l4 ~ AOlUDIIMT It -nnunt 1Dn1ON. A&&- . CIW
TlfI..,......&HIMITrTVn or AIIOl......, , 17U ....YOIlIl...YVIlJa. ........ VAPaManlH. D.c. :10006
A101-1M7 3
Oec-29-9S OS:41A
P.os
'W" '. ~, ......
~.
~"'.'A~
11.1 -.cd upon ~ lot hymrru lubtUr.ecs.O 1M ~ by rhc ConIrxmr and CatUtalq rot ~I\I -.cu by me
ArdIIr.ea. me Owner .... fIIIIR ~ pl')mtaa on ICCOUnt oIlt1c COrnrxa Sum 10 lIW COI\IQCUIr . JlnMdaS bell., -..
tlM.tae ., \he ~ Doa.nrmJ.
u Tbc pcdod (lQftftJd by' CIdI Appl.IaUon for PJyrnent .n.a br ON: c:aIatdat monctI ~ on dtc till day ollhl; mondt, ur ..
mGo_,
mNE
5..11 Pro~ldtd an AppHadon b P1yMC'N II rrcel~ by ItW AldWea nDi-.... lhc~) ~t:.v-fift"h.
day 01. mcwh, rIw 01lPNr Ihstlllllllc &if lhe ~ Dl.r;1Cr ItwI
~ (15th) fUteeztth dIy ofwfollar.r1n2 mmaIL II. ~lOr'I bf'lynlrna II m.'cNaJ bylbe
AlchIIlQ Ilriif me tppIIr'MJan dIIc fta:d Ibmoe. poy-.- Ihd be ~by rile <>-wKr .- baa IhIn (45) fan:.y-a.".
~. 2ftct Iftc ~ recawa me Applbdon far h)'IDaIC.
U b:h AppI....:bl far ~ ... be tJ:&Mld upoo me Schtdulc 01 VaJua JUbmlnC'd by chc CocI&nQor In IQ~ wtlh
. ~ Cor1cr.ct DrxulneI-. l'1tr ~ 01 Valua thalI .Dor:::III! ~ -.in: CanrrIa Sum IlbGaI rhe YIItOIu pcxucm. Clllhe Win
IIIIId be p'1C~ InSld'l fotm and IUIlI'Onat by IUd'I dill. to ~ ItS 1rXUnCy. 1M ~ may NquW. This Sd\1ttIulr.
unbI ~ 10 by die ~1eCt," be lIIICd. . tQIII for rcylil,...,._ Ccnra&:tur'. Appltt'..~. Iot~.
S.s ~1oftI1or PaJIIIMI ehallndIQtc the ~ 01 compIaior. of am pontOIt dthr .nrlr 21 of lhe mLI ullhe period
c:uwred by _ AW--"--'lbr ~L
U.. ~ 10 chc provtIIOnI uI uw CcwI1lC1 ~ the anaunr or CICtI ~ pIymInlw.Jt br C'C~ as (ulluw.i:
IJ.L 1 TIICe "'- prHUgn oIl1\C ConIrxt Sum p~, aIIoc2blc lQ t'OCIlpItu:d Wone. tkrlllDft!d b, ~ dk ~
~ 01 adI porUgn oIlbe Work by \he Mare olIN: IOaI ~ Sin ~ 10 r!Ilar panJaft 01"- W'lId In .t.
~ 01 vaIua. ... ,..-...... Di' Om.) tml percent pr""dn
( ten 1.0% ~). Ptadq nn.r ~ o( <<WID che OIlmCf 01 ~ lIS Ik \fIDftc. ImUWUa /kit III ~~ tn2,. hr
lnduW.. ptOridEU '" Scq...~~ 7.'.7 o(!hr ~ CClftdtdoru CYallhOuIft dle OMM(t Sum Nt ftO( ya ~ ~ 11,.
0-. Older.
ioU AdcI tIIII ponbI oIlhc ~ SUm PIOPaly ~ 10 maccriaII *'d tcppaIcN ti~~ tnd MQhIy tlUMJ . lhe
.. lor ~ ~~..........Ift Ibe ~ ClOnsINcdon (or, II ~ In ~ by \he OwI'Cr.11&IWlty W!fUJ un.hr
1lh: aI a loauOll IIm'd upon 1ft WI1rInB). lea ~ 01 t:an
pcn:aII ( ten. 'A); ,
U.a SubvIa ~ ~ OlPRftMII ~ ~ by me Owuer; IIld
I.... SubcnI:t ~ II any, lbt 'WNd1 the AICN&ea tlu wWIheld or nuIIUIr:d a ~ lor PJymem . PMtdcU In ~
P'lPb 9.' 01 4he Gcmnl ConctiJns.
It., 'the pIOIraI ~ ~ dnamAned In accardMce wWl p~ ~.611'11111 be ~ ~fIr:d undtf au: 6JlJuwtn.
I:IraImasnecs:
8.7.1 Add. UJ'On ~ ~ or ~ _oril. ::II -" IUI!IdaIa 10 ~ IDe waI ~ 10
Sc.m. ~aii&-~-da.u ~b~-;;;;"O;k~ cd9Jt and ">01 1hc-(;tJftU'aCC
&.1.1 A4c1, II GnII ~ 01 W ..~ II r:haaftu ~ cSetayal1t\muth no f:IuII of lhr CUntlXtnr. iIfly :lItI&JS1JI.on1Ll
~ plIySb6e In accordance ~ ~ 9.10.' ot \he 0cnr:nI ConcIIklns.
V.. JtclducUoft 0I11rrlJ1man at ~. ltMf. ahaI be. ftlUo..:
(1/ q II ......-.c ".,.. A. -4wII ~- ~,." ~ ~, 10"..,..... ""'" '" ,.,......., IWfIII" ~ ~ />>IfII. ~_ I. r...,..."
..... f..., - ~~...... -...." _ ....,... M....... ,.,. aa.-r ~f. ~..... ~ "",.. ~ ,__.,
'll:N PDC.>>lr ~ SHt\lL BE mI.D UNTIL '1HE ~ \rUn( IS F'IFlY(.507.) PP'llQM"
CIHU:l!; A.~ 'm:ERlW"ml mE ~. ,ww. aEMc\IN IJ ~(5'-) PERCENt C(I' TIm
1UrAL CCMRAcr wrn.. 1llE SUBSTANrIAL ca1PIE'l1CN OF ALL 'THE CXlmW:T \aUc.
AMl- fll · ,,,~ . OtnaI.-<art'bcToa IoCIIDdllfT . fYII..PTH 1tUTX>>f..uA- . ..,.,
TllI AMIa/CAlllIIa1'1'1'\1n op AKJancn. 17~' MaW 'W0llll; "VlNUI. N,W" "'~l'OIC. o.c. ...
A,at.,.., .
Dec-29-9B OB:42A
P.06
. .
." " '......'..~.....
~.
PIML .A~
PINlI ~ ~... awn.... ~ allhru....s 5uIn, IhaIlbelllMlil by dlc 0....10 Ihc COnIQC1Uf wto." (Il
u. CanInc.t .. ..... w, .......... by die ~ ~ for the c.onu....a .___...~ to coma nunaJIlfurrNnt
Wed . ,..1d8d It ~ .. ~ 12..U cllftC 0cnaII CGldIanI nllO ..." ClIJIIr nquIrIIlInI, lIan,. 1IWhidI ntaIaI&I,
IlUntfe .... ..,....l... (J).... at. - .. ..,.... .. Mal __ br che A. . I r C': ... .... ..,....1hIlI be mack br
me 0wMr .. ... cIIIIl sa .,. ... II.- ___ 01 eM NdsIIa', .., Ca'*- *- ".,..... Of . **'-tl
rOE
AImCU .,
1*. C- IIVEOUI PROVIIIONI
.,., ....... ..A.._ ....... m ..,,-,.;...~.IO . p.or.... oldie Gcncal Q)I~ ar....., Qnnn 'lla:un~tl. I.hr n..'f-
aaQ rdallD "* r-.' . ..... . .dI.4 Ilf laIpII6err4-.4by odlcr plOw"'" 01 the 0DNnIa I),k -'IlL
,.a PI,...... _.............. die eo..aa .. bca'..... lam &lie dM paymatlll "*. ....1IlMd ~I win
Ihc ~ ..... .. .. lip IIR ,..~. n ........ lU __ . IN J*e .... a.a fltotIa .1DmIIld. .
,... ....,......~.~
NlA
~..... ......... ....._,... ~ ............. ......___. .1>.......____ .. ~ ...,,_,_
ClwIfJ__:."...."............ ____""..."...._............b~._..--. ,.......-.-.._
.............. - "l" ____..........."T ....11 __ _ __ ~.,......J
70S Oft:r 1* IIIIilla.:
. '
M1'ICL2 .
1I':"_~f1ONOR~
fl.' lbc eonn.a III&f be ~ by _ o.mcr or the Conuxfor II ~ In AnktD I" 01 die 0cncr.It (:&IndIIIIW.
'.2 1M Wod& m.y be ~ " IN o~ ,. pnMded ~ olntdc t4 uf the GenMt CMcIlIonl.
AM (In' . .'" . ~ .ta-.- . '""""' 1DIT1OM' AlA- . .,_
TMII_UICAIl...nntft OP~ 1m.." 'IOIta AvtNUI. No..,. 'IhJHMQ,..... D.c:._
At01.1M1 I
Dec-29-9S OS:42A
P.07
::-
MT1CLC .
W~1IOIIOP~~
1).1 Tbc CcNna DoewDenu. c:.c:q.lbr ModIftndanI-.d... -Jon 01 dIM ""'__4. lie awnwtlled .lbJIa..,
g.l.l "..-., II ~T" II dIM ~ 5IIndIrd Ponn 01 A4PammC IIct'MIcn OWner Ind QlnUIaor, AlA 00aInknI AIOI, 1'MI7
IId1&1an.
8.1.1 11w CieNfW eo-.-.,..... _ dw~ ~ ol dw eana.a Jof~AIA ~. ~'l l~ ldItlDD.
t.1..J TtJe 1uppclaaN8r11ftd oda C".....~ of ctIc Cclnaxt Ire d..e .......... In tbc I'IoICa IUnuII dlUd
.ad....~
May, l.998
1"'----
11dc
....
E1chibi t IIB'"
Rehabilitation Manual Dated May. 1998
oldc TCM1
~ by: ~ll. ~JII'7"J :Bullock. Arcbi.uca
96 pages
1.,.4 l'bc """" ItI ..aww _ .. awIInCd in dw Prateu ...... .-at . In Sa"~, 9.1.3. ...s are II JbIotlri:
~- - ......~ I ...-..... --..... _. .... Ar-.J
~ ndIt ....
E::Rh1b1t ''W'
ReMbilit:aticn Manual Dated Hay. 1998
Olde Town
prepared by: Mawl:!ll. Spencer. BulloCk Archit.eca
96 Pages
_1IlIItI T L ..,.. ~ 'lGIII1MMT w "''''"' ~. AlA- .OIW7
n.. "~"~Of "--._fa. .,.,....YOIlIl ~"'""........,. "~a4_
A1t1-1t17 .
Dec-29-9B OB:42A
P.OB
::-
9.1.1 1bc ~-~... ~ .. .. dIIccI
,.... * ... ~.....,,... - --~........ .J
H 1u n.s.
udell . dUIaaM d-. .. Iho..n bduw:
Dsaa
EJ:hibi t: '"B"
Rehabili tat:1cn Manual. 'Dated &y, 1998
Olde 'rom
prepared. by: Xdwell. Spfmc.er, au 1.ock Archi.t.eCt.!i
96 ~e11
9.1.1 TIle -~ .....lhay. _.~
~
~
,...
Exhibit: ~'~'
AcJdendl.p 11
AddcnbIl #2
June. 9, 1998
.~ 10,1998
2
2
f'omoaI 01 AddIenclIIldlanlco ~ ~ _ ~r ~ 01 die Conrna 00c:wnaw'1IIIJcm !he bWidIrtt fCqwtemcnU ~
aIIQ ~ Ira d\aI AIade 9.
* - i irrT"teI · :NI"~ an,"_"~"" T'V1lII1lt UlrT1ON. "IA8 . Cl.MJ
TlR "''""Ie. a.rnun Of ~ _... '71' tCW VOla AYIIIUa. H~~ WAMattOTatl, D.C. ~
Ailt-'.., 7
OQc-29-9a O~:4LA
1-".09
~
- . ,.. .~..
1.1.7 Odw .. _ II...,. IoMUnII*'I ot Ihc CcmaIa DOcwDINI an: - ~
(U1I....................-.........,...~.,_O'" till.. II n.~~",.....",..,.~--
.......... -...........,...AJfllf._~,."....._~..__-,..",-~t: III~TI ..44
GII" ~ n r t "" ~ .. ,..,...... if ........., .. .. ,., ., .... a.-.cr ~ ~ J
ElIhibi t I".'
Wap ~icn -- General nzcuion GA9800lIt 02/13/98
3 pases
ElIbibit: r 'E"
Keith MJbmcileCtc to Ro..-ry Kernahan dll~ 01/31/98 1 page
Exhibit 'T'
Olda Town Apartmm'\a P.av1.aed 1JAak_ -' Dryer inst:a).!..UOIl plan 2 pases
E:Ih:lbit ''C''
AckAovladameo[ gf L4nde~
TNt ,.MBiOI" II aWIIId 1aIO.. cllbl dIy md ,..!III ..... __;ad II ....".,. 'w III.... ..... ~ capMs 0( wNcts
OM 1110 be'" " D _ CcMIIftaOt. elM 10 IhIt NdlaIea b Ide ~ dw .........-MIII. ollbe ea.w.a. ~!he ~ D!hI:
0WMr.
~(X)., ~.
OWND CUE 'ltJti AS&lCIAl'ES, 12
~
Pm.J.a lqan I President
~... ...,..,
R. Cosgray .Jr ., Vic...~1dalt
{PWIItM --- ,..,
AIM , 0 ~ L I..... 0- .. ~ AG-"-" . 'I"IIf'IiIIW IIlI11CIN ..t.&A. . .,.,
"1f' u,~..,,-nmal......,....a, 'lH~ ~...,..,... ...W,. ~o o.c._
Atet-1117 .
'.
,i
THE DRUMMOND LAW GROUP, P.C.
ATTORNEYS AT LAW
ONE MIDTOWN PLAZA
1360 PEACHTREE STREET, N,E" SUITE 1000
ATLANTA, GEORGIA 30309-3214
TELEPHONE: (404) 898-1200
FACSIMILE: (404) 898-1201
December 29, 1998
Augusta, Georgia
530 Greene Street
Augusta, Georgia 30911
Re: Olde Town Associates, L. P.
Ladies and Gentlemen;
We refer to the Rehabilitation Loan Agreement (the "Agreement") dated December 29,
1998, between Olde Town Associates, L.P., a Georgia limited partnership (the "Borrower"), and
Augusta, Georgia, a political subdivision of the State of Georgia (the "Lender"), in which Lender
agrees to lend the Borrower up to $1,137,000.00 (the "Loan"). We have acted as counsel to the
Borrower in connection with the Agreement and the underlying loan transaction and are
delivering the opinions in this letter at the Lender's request. It is our understanding that the
proceeds of the loan will be used to finance the acquisition of that certain 116-unit affordable
housing development located on 49 parcels in Augusta, Georgia and to be known as Olde Town
Apartments (the "Project").
This opinion letter is intended to be consistent with the January 1, 1992 edition of the
Interpretive Standards applicable to legal opinions to third parties in corporate transactions
adapted by the Legal Opinion Committee of the Corporate and Banking Law Section of the State
Bar of Georgia. Capitalized terms used in this letter and not otherwise defined shall have the
same meanings as in the Agreement. The Agreement, and the accompanying documents related
thereto, are hereinafter referred to collectively as the "Documents."
To enable us to render our opinions, we have examined such records, agreements,
instruments, certificates, and other documents as we deem necessary or appropriate. We have
assumed the authenticity of all documents submitted to us as originals, the genuineness of
signatures on documents, and the conformity of copies with original documents. As to
certificates and telegraphic confirmations of public officials, we have assumed they have been
properly given and are accurate.
F:\Documents\CAR\White Oak\Olde Town\opn,city,doc
Augusta, Georgia
December 29, 1998
Page 2
We have also assumed, with your permission and without any investigation whatsoever;
that:
(i) there are no agreements which supplement or vary the provisions of the Documents
which have not been delivered to us for examination in connection with the rendering of this
opInIOn;
(ii) the Documents constitute legal, valid, binding and enforceable obligations of Lender;
(iii) the Security Deed and the Financing Statement will be duly and timely recorded in
the appropriate public records;
(iv) the interest currently provided for in (or any other interest allowed or to be
subsequently designated under the terms of) the Documents, together with all other charges due
and payable by Borrower to Lender with respect to the Loan, will not at any time (whether due to
prepayment, acceleration, lack of borrowing or otherwise) exceed five percent (5%) per month as
prohibited by O.C.G.A. 97-4-18 and the Documents do not provide for the payment of interest on
interest; and that no such interest or charges constitute precomputed interest within the meaning
ofO.C.G.A. S7-4-2(b);
(v) each party to the transaction has complied with all laws applicable to it that affect the
transaction; and
(vi) each natural person acting on behalf of any party to the transaction has sufficient
legal competency to carry out such person's role in the transaction.
As to all matters of fact, we have relied upon that certain certificate of the general partner
of the Borrower, a copy of which is attached hereto as Exhibit "A" (the "Certificate"). With
respect to opinions which make specific reference to an investigation, we have advised you, and
you have acknowledged, that any such investigation has been limited to reasonable inquiry of the
partners of the Borrower.
In addition, where we have rendered our opinion concerning matters "known to us" or
this letter otherwise refers to our knowledge or our attention, such reference shall mean only the
knowledge of Alison M. Drummond, Carolyn A. Rowland and Patti R. Clark, who are the
professionals in our firm primarily responsible for our legal services relating to the Borrower,
and shall not refer to the knowledge of any other person in any way associated with this firm.
Furthermore, such knowledge refers only to matters of which the professionals named above are
consciously aware at the time of execution of this letter.
The opinions set forth herein are limited to the laws of the State of Georgia and
applicable federal laws.
F:\Documents\CAR\White Oak\Olde Town\opn,city,doc
Augusta, Georgia
December 29, 1998
Page 3
Based upon the foregoing, it is our opinion that:
1. The Borrower is a Georgia limited partnership duly formed and validly existing
under Georgia law.
2. The Borrower has the requisite power and authority under its partnership
agreement or otherwise to own its property and conduct its business.
3. The Borrower has the requisite power and authority under its partnership
agreement or otherwise to execute, deliver, and perform its obligations under the Agreement and
the other Documents.
4. White Oak Olde Town, Inc. is a Georgia corporation, duly formed and validly
existing under Georgia law. White Oak Olde Town, Inc. is the managing general partner of the
Borrower (the "General Partner"). In such capacity, it has the power and authority to borrow
money from the Lender for and on behalf of the Borrower and to sign and deliver the Agreement,
the Note, and the other Documents.
5. The Agreement and the other Documents have been duly authorized, executed,
and delivered by Borrower.
6. The Guaranty has been duly executed and delivered by Paula Ryan.
7. The Agreement and the other Documents, including the Guaranty, insofar as they
are governed by and construed in accordance with the laws of the State of Georgia, are
enforceable against the Borrower (and Paula Ryan with respect to the Guaranty) in accordance
with their terms, except as enforceability may be limited by (i) bankruptcy, insolvency,
moratorium, reorganization, fraudulent conveyance, or similar laws affecting creditors' rights
generally, (ii) customary principles, judicial decisions, and laws governing, limiting or affecting
equitable remedies or relief generally (including, without limitation, matters of public policy)
whether considered in a proceeding at law or equity, and (iii) certain other laws and judicial
decisions which may affect certain of the remedial or other provisions contained in the
Documents, none of which decisions will, in our judgment, substantially interfere with the
practical realization by you of the rights intended to be provided under the Documents, except for
the economic consequences of any procedural delay which may result thereby.
8. The Agreement and the other Documents do not violate Borrower's partnership
agreement or certificate of partnership or any material agreements or orders known to us or any
law applicable to Borrower or its business. We have assumed that the term "material
agreements" as used above includes only those agreements identified to us by the General Partner
in the Certificate and we have also assumed that the Borrower is subject only to those judicial or
administrative decrees, rules, writs, judgments or orders identified to us by the General Partner in
the Certificate. We have made no independent investigation as to the existence of any material
agreements or judicial or administrative decrees, writs, judgments or orders other than those
F:\Documents\CAR\ White Oak\Olde Townlopn,city,doc
Augusta, Georgia
December 29, 1998
Page 4
described in the Certificate.
9. No approval, consent or withholding of objection on the part of, or filing,
registration of qualification with, any governmental body, Federal or State, not already obtained
is necessary in connection with the execution and delivery by the Borrower of the Documents,
and based solely on the Certificate, the Borrower has obtained or will obtain in a timely fashion,
all licenses, permits and approvals which may be required in connection with the operation,
construction and renovation of the Project.
10. To our knowledge, without independent investigation, and based solely on the
Certificate, and inquiry ofthe Borrower, there is no action, suit, proceeding, inquiry or
investigation at law or in equity before or by any judicial or administrative court, pending or
threatened, against the Borrower or any of its property, wherein an unfavorable decision, ruling
or finding could have a material adverse effect on the financial condition of the Borrower or the
ability of the Borrower to own and operate its property as contemplated in Documents. To our
knowledge, and based solely on the Certificate, there are no outstanding judgments against the
Borrower.
11. Under the laws of the State of Georgia, the Security Deed has been properly
executed and is in proper form (a) for the conveyance of the security title and security interest
contemplated thereby on and against any interest of the Borrower in the Project, and (b) for
recordation in the appropriate real property records. The proper place to file or record the
Security Deed in order to give proper public notice of the creation of the security title in the real
estate granted, or intended to be granted, in the Security Deed is in the Office of the Clerk of the
Superior Court in the county in which such real estate is located.
No opinion is expressed as to the perfection of the security interests created by the
Security Deed. Assuming that the Borrower is the owner of the fee simple title in the real estate
described in the Security Deed, then the Security Deed will convey security title in and to such
real estate.
12. The Security Deed creates a valid security interest in the entire interest ofthe
Borrower in those items of personal property owned by the Borrower and located in the State of
Georgia and described in the Security Deed as to which a security interest may be created by
executing a security agreement under the Georgia Uniform Commercial Code. The Financing
Statement should be filed in Richmond County, Georgia and the Financing Statement is adequate
to perfect such security interest in the interest of the Borrower in those items of personal property
owned by the Borrower and located in the State of Georgia and described in the Security Deed
and in the Financing Statement as to which a security interest may be perfected by filing a
financing statement under the Georgia Uniform Commercial Code, except that, with respect to
personal property acquired after the date of filing, such security interest will be created and
perfected only upon the Borrower's acquisition of rights in such personal property. In addition,
we advise you that O.C.G.A. ~ 11-9-306 contains certain limitations on the rights to proceeds.
F:\Documents\CAR\White Oak\Olde Town\opn,city,doc
Augusta, Georgia
December 29, 1998
Page 5
For your information, in order to perfect a security interest in personal property in
Georgia, a secured party must file a Form UCC-I financing statement, which may be filed with
the superior clerk in any county in the State of Georgia. In order to perfect a security interest in a
fixture or other "real estate related filing", a secured party must (i) file a Form UCC-I financing
statement, which may be filed with the superior clerk in any county in the State of Georgia, and
(ii) present for recording a separate Form UCC-2 "Notice Filing" to the clerk ofthe county in
which the property is located.
In rendering the opinion set forth in this Paragraph 12, we have assumed, based
solely on the Certificate, that Richmond County, Georgia is the only county in the State of
Georgia in which any of the property which is real estate or fixtures is located.
No other or additional financing statements are required to be filed in order to
enable us to render the Opinion set forth in this Paragraph 12. Additional filings with respect to
personal property will be necessary if the Borrower changes its name, identity or corporate
structure such that the Financing Statement become materially misleading. We also call your
attention to the fact that the Georgia Uniform Commercial Code requires the periodic filing of
continuation statements in order to maintain the effectiveness of the filings referred to therein.
13. To our knowledge and based solely on the Certificate, all intangible,
documentary, and other taxes and governmental charges required to be paid under any applicable
law in connection with the execution, delivery, filing, or recording of, or as a condition to the
enforcement of, the Security Deed, any other Documents, and the Financing Statement and
notice will be paid in full at the time of filing.
14. Based solely on the Certificate, neither the Partnership nor the General Partner has
engaged the services of any real estate broker or agent in connection with the Loan, and
Borrower has not received notice from any real estate agent or broker that a lien for those kinds
of services is being asserted.
In addition to those limitations stated above, this opinion letter is based upon and
further subject to the qualifications, limitations and exceptions set forth below:
(a) Without limiting the generality of any other limitations set forth in this
opinion letter, and notwithstanding anything to the contrary set forth herein, we do not
express any opinion as to:
(i) The validity, binding effect or enforceability of any provision
contained in the Documents allowing the Lender to accelerate the maturity of the
indebtedness evidenced and secured thereby without notice to the Borrower; but
no such lack of enforceability will, in our judgment, materially interfere with the
practical realization by the Lender of the benefits of the security provided by any
of the Documents; or
F:\Documents\CAR\White Oak\Olde Town\opn,city.doc
Augusta, Georgia
December 29, 1998
Page 6
(ii) The validity, binding effect or enforceability of any provision
contained in the Documents relating to the appointment of a receiver; but no such
lack of enforceability will, in our judgment, materially interfere with the practical
realization by the Lender of the benefits ofthe security provided by the respective
Documents; or
(iii) Except as provided in paragraph 12, the state of title to any real or
personal property which may be covered by the Documents, or the priority or
perfection (or continuation thereof) of any lien, security interest, security title or
other encumbrance purported to be created or perfected by the Documents, or the
effect of failure of or lack oftitle upon the validity, binding effect, or
enforceability of the Documents, or the adequacy of any description of such
property (we have not made an examination of title to any such property and
understand that you are relying on other evidence oftitle to the extent you deem
appropriate); or
(iv) The validity, binding effect or enforceability of any provision
contained in the Documents, which purports to grant an absolute assignment of
the "leases" and the "rents" (as such terms are defined in the Lease Assignment)
rather than a collateral assignment; or
(v) The validity, binding effect or enforceability of any provision
contained in any of the Documents pursuant to which any person or entity is to be
indemnified or held harmless from loss or liability incurred as a result of the
negligence, wrongdoing, fraud, or misconduct of such person or entity or of any
agent, contractor, employee, representative, partner, director or shareholder of
such person or entity; or
(vi) The validity, binding effect or enforceability of any provision
contained in the Documents requiring the payment of any premium, penalty,
liquidated damages or similar charge in connection with any prepayment of
indebtedness; or
(vii) The enforceability of any provision contained in the Documents by
which any party purports to waive its right to a trial by jury; or
(viii) The status of any of the covenants, agreements, restrictions, or other
provisions contained in the Restrictive Covenants as constituting covenants
running with the land; provided that, subject to such other exceptions and
qualifications as we have expressed in this opinion, such covenants shall be
binding upon the Borrower and shall be binding upon any successor owner of the
project, who, with adequate consideration, shall have duly and validly assumed in
w.riting the Partnership's obligations under the Restrictive Covenants; or
F:\Documents\CAR\ White Oak\Olde Town\opn,city,doc
Augusta, Georgia
December 29, 1998
Page 7
(ix) The survival of obligations contained in any of the Documents after
foreclosure under power of sale contained in any of the Documents without proper
confirmation of the sale; or
(x) Any matter involving choice of law or conflict of laws.
The opinions in this letter are being rendered in connection with the Agreement, the other
Documents and the underlying loan transaction and may be relied upon by you only in
connection with those instruments and that transaction. Without the prior written consent ofthis
firm, you shall not disclose these opinions to any other person or entity, and no other person or
entity may rely on any opinion expressed in this letter. This opinion letter is given as of the date
hereof and we expressly disclaim any obligation to advise you of changes to pertinent authority
with facts that may hereafter come to our attention or to revise or update this opinion letter in any
way.
Very truly yours,
The Drummond Law Group, P.C.
~~
Alison M. Drummond,
President
F:\Documents\CAR\White Oak\Olde Town\opn,city,doc
Exhibit" A"
CERTIFICATE AND AFFIDAVIT
OF
PAULA 1. RYAN
The undersigned, Paula J. Ryan ("Ryan") does hereby certify that she is the President of
White Oak Olde Town, Inc., a Georgia corporation ("General Partner") which serves as the
managing general partner of Olde Town Associates, L.P. (the "Partnership"). In her foregoing
capacity, the undersigned does hereby further certify to the following factual matters to be relied
upon by The Drummond Law Group, P.C. ("DLG") for purposes of their opinions regarding
certain matters as counsel to the Partnership and General Partner in connection with (i) that
certain Equity Bridge Loan from SunTrust Bank, Atlanta ("SunTrust") ("SunTrust Loan") in the
original principal amount of $3,440,000; (ii) that certain AcquisitionlPermanent Loan from the
Georgia Department of Community Affairs ("DCA") in the original principal amount of
$1,730,000 ("DCA Loan"); (iii) that certain Rehabilitation Loan from Augusta, Georgia
("Augusta") in the original principal amount of$1,137,000 ("Augusta Loan"); and (iv) the
admission of SunTrust to the Partnership as a limited partner. The undersigned understands and
acknowledges that this Certificate may be attached as an exhibit to the legal opinion to be
rendered by DLG (the "DLG Opinion") to SunTrust and its legal counsel, to DCA and its legal
counsel, to Augusta and its legal counsel and perhaps to additional parties. All capitalized teJ;:ll1s
used and not defined herein shall have the same meaning as set forth in the DLG Opinion, to'be
delivered to each party respectively.
1. The Partnership owns the beneficial interest in those certain scattered sites of land
located in Augusta, Richmond County, Georgia on which are situated 116 units of affordable
housing (the "Project"), to be known as Olde Town Apartments. The Partnership is the sole
owner of the Project.
2. Richmond County, Georgia is the only county in the State of Georgia in which
any of the property which is real estate or fixtures is located with respect to the Project.
3. All documents to be executed and delivered by the Partnership and General
Partner in connection with (i) financing of the Project, (ii) all agreements in connection with the
, renovation and operation of the Project, and the performance of all obligations thereunder by the
Partnership and General Partner have been duly authorized, executed and delivered.
4. All representations and warranties made by the Partnership and General Partner as
general partner, guarantor, developer or seller with respect to securities as set forth in the
Partnership Agreement, the Loan documents and other related documents, are true and correct.
5. There is no action, suit, proceeding, inquiry or investigation at law or in equity
before or by any judicial or administrative court, board or agency, pending or threatened against
or affecting the Partnership, General Partner or the undersigned or any of their properties,
businesses or securities before any court, arbitrator, governmental department, commission,
board, bureau, agency or other instrumentality, state, federal or foreign, or, to my knowledge, any
1
F:\Documents\CAR\'Nhite Oak\Oldc Town\ryan,opn,dca,cclt,doc
basis for any such action, suit or proceeding, inquiry or investigation, wherein an unfavorable
decision, ruling or finding would materially and adversely affect the Project, or the ability of the
Partnership to own and operate its property as contemplated in the Partnership or Loan
Documents, or the delivery, validity or enforceability of the Partnership or Loan Documents, or
the consummation of the transactions contemplated therein, or which would have a material and
adverse effect on the business, assets or financial condition of the Partnership, General Partner or
the undersigned, or create a lien or encumbrance or security interest on any property of the
Partnership, General Partner or the undersigned.
6. The execution anddelivety of the Loan Documents, the Partnership Documents
and the ancillary and related documents, and the consummation of the transactions contemplated
therein, do not conflict with or constitute a breach of or a default under any material written
agreements or under any federal or Georgia constitution, regulation, law, rule or judicial or
administrative decree, w.rit, judgment or order to which the Partnership, General Partner or the
undersigned or any of their properties are subject. The execution and delivery of the Loan
Documents would not create or impose a contractual lien or security interest in, on or against the
assets of the Partnership, General Partner or the undersigned under any material w.ritten
agreement to which the Partnership, General Partner or the undersigned, or any of their
properties, are subject. The term "material w.ritten agreements" includes all loan agreements,
contracts, indentures, mortgages, leases and other documents and agreements binding upon the
Partnership, General Partner or the undersigned. '
7. None ofthe Partnership, General Partner or the undersigned is subject to any
judicial or administrative judgments, orders, decrees, rules, rulings, w.rits, charges or other
restrictions.
8. There is no indebtedness secured by the Project, other than the DCA Loan, the
Augusta Loan and any other debts as permitted under the Loan Documents.
9. No authorization, approval, consent, license, exemption or withholding of
objection on the part of, or filing, registration or qualification with, any governmental body,
Federal, State or local, not already obtained is necessary in connection with the execution,
delivery and performance by the Partnership, General Partner or the undersigned of the Loan
Documents, the Partnership Agreement and any all documents relating thereto, or for the
validity, legality or effectiveness thereof.
10. The Partnership has obtained, or as required by law, will obtain in a timely
manner all licenses, permits and approvals which may be required in connection with the
acquisition, financing, operation and renovation of the Project, except for any licenses, permits
and approvals which are only available following the completion of the renovation of the Project,
if any, and such licenses, permits or approvals shall be obtained following the completion of the
Project.
2
F:\Docunlcnts\CAR\\Vhitc Oak\Olde Town\ryan,opn.dca.ccrt,doc
11. All intangibles, documentary, and other taxes and governmental charges required
to be paid under any applicable law in connection with the execution, delivery, filing, or
recording of, or as a condition to the enforcement of any of the Loan Documents, will be paid in
full at the time of filing.
12. There are no violations of environmental or conservation laws, ordinances, rules
or regulations at the Project and none are known to exist, except as may be set forth in
environmental reports which have previously been delivered by the Partnership to the Limited
Partner.
13. The Partnership and General Partner have taken all requisite action in order to
lawfully conduct their businesses in the State of Georgia.
14. Neither the Partnership nor the General Partner has engaged the services of any
real estate broker or agent in connection with the DCA Loan or the Augusta Loan, and neither
the Partnership nor the General Partner has received notice from any real estate broker or agent
that a lien for those kinds of services is being asserted.
15. There are no outstanding judgments against the Borrower or the General Partner.
The undersigned understands and acknowledges that this Certificate will be relied upon
by DLG.
[Signatures on Following Page]
3
F:\Documents\CAR\\Vhite Oak\Olde Town\ryan,opn,dca,cert,doc
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