HomeMy WebLinkAboutLandmark Apartments
. August-a Richmond GA
DOCUMENT NAME: \L\t\amay'L Q'\X^'(~
DOCUMENT TYPE:
YEAR: ~l
BOX NUMBER: 0 ~
FILE NUMBER: \~()\l
NUMBER OF PAGES: to
-;'
'"
..
I' ..1"
AUGUSTA-RICHMOND COUNTY COMMISSION
. LARRY E. SCONYERS -
Mayor
ROOM 801 MUNICIPAL BLDG. (1 I)
AUGUSTA. GEORGIA 30911
. Bus. (706) 821-2488
Fax No. (706) 722-5984
LEE BEARD
ULMER BRIDGES
JERRY BRIGHAM
HENRY H. BRIGHAM
Wll.LIAM B. KUHLKE. JR.
WM. "WILLIE" H. MAYS. ill
J. B. POWELL
MOSES TODD
ROB ZElTERBERG
._,-
FREDDIE L. HANDY
Mayor Pro Tern
CHARLES R. OLIVER, P E. CPA
Administrator
March 19, 1997
JAMES B. WALL
Anomey
Ms. Lena Bonner
Clerk, Commission
8th Floor, Municipal Bldg.
Augusta, GA 30911
Reply to:
P.O. BOX 2125
Augusta. GA. 30903
RE: Landmark Apartments
Dear Lena:
I enclose herewith the Amendment to Security Deed Note
and the Guarantee Agreement, in connection with the refinancing by
Mark Development Company, Inc. on the above referenced apartments.
Please place the original of these documents in the permanent
records' of the City which was approved by the . Commission on
February 18, 1997.
By carbon copy of this letter, I am forwarding copies of
these instruments to Keven Mack and Butch McKie, for their files.
Thanking you and with best personal regards, I am
v:?:J;r
es B. Wall
JBWjsjp
Enclosures
cc: Keven Mack
A. B. "ButchH McKie
,
STATE OF GEORGIA
JAMES C. FOLK
KILPATRICK & FOLK
246 DAVIS RD. ~::UlTf: C
MARTlNEZ, GA 30907
COUNTY OF RICHMOND
AMENDMENT TO SECURITY DEED NOTE
WHEREAS, Mark Development Company, Inc. executed a Security Deed Note
dated April 11, 1984 in the original principal amount of$500,000.00 in certain community
development block grant funds in favor of The City Council of Augusta, Georgia; and
WHEREAS, The U.S. Department of Housing & Urban Development requires
certain modifications to said original note pursuant to a refinancing of said project, said refinance
being from Mark Development Company, Inc., a Georgia corporation in favor of Reilly Mortgage
Group, Inc., a District of Columbia corporation as of March 7th, 1997.
WHEREAS, it being in the mutual interest of Mark Development Company, Inc.
and Augusta-Richmond County Commission (successor by consolidation to The City Council of
Augusta, Georgia) as holder of said note to amend the terms of the note;
NOW, THEREFORE, the terms of said note are amended by adding the paragraph
as paragraph number 11, to-wit:
11.
Notwithstanding anything to the contrary in the original note, so long as the
Secretary of Housing and Urban Development or his/her successors or assigns, are the insurers or
holders of the first mortgage on Landmark Apartments, Project No. 061-11123-PM, payments
due under this note shall be payable only from surplus cash of said project, as the term surplus
cash is defined in the Regulatory Agreement dated March 7th, 1997 between HUD and Mark
Development Company, Inc. The restriction on payment imposed by this paragraph shall not
/.
,
excuse any default caused by the failure of the maker to pay the indebtedness evidenced by this
Note.
Said Security Deed Note shall otherwise remain in full force and effect.
As of this 7th day of March, 1997.
MARK DEVELOPMENT COMPANY, INC.,
a Georgia corporation
BY:
...~
Notary Publi~.,...~ 2\':'?-:'~:";':,,( ~!tt."'~
"'Q; V,.Jl" i . \\~
"QG"iiJili\\
Signed, sealed and delivered
this J.Q day of March, 1997
in the presence of:
:l~P(
~d,~
Nbtary Public - ,
'"r"\ --~
_ D_ . _:, d:-~ -;)-000
-~~
AUGUST A-RICHMOND COUNTY
COMMISSION (Successor by consolidation to
The City Council of Augusta, Georgia)
....,\
"'b ~
~',
'.
.,
....
,
.
...
GUARAN'Yffi AGREEMENT
THIS GUARAN'YBE AGREEMENT made and entered into as of March 10,
1997, by and between ASHBY R. KROUSE III, of Augusta, Georgia, ("Guarantor"),
MARK DE.VBLOPMENT CCMPANY, INC., a corporation organized and existing under
the laws of the State of Georgia,' ("Developer"), and AUGUSTA-RICHM)ND COUNTY
COMMISSION, (successor by consolidation to The City Council of Augusta, Georgia,
,
("City");
WHEREAS, THE City and the Developer entered into an agreement whereby
the City loaned the Developer Five Hundred Thousand ($500,000.00) Dollars
in Urban Development Action Grant funds received from the United States Department
of Housing and Urban Development; and
WHEREAS, as a condition of the aforesaid UDAG loan, the Developer
has and must agree and insure that a min~ of 3.7 acreS of land located
on 13th Street, South of the JOM C. Calhoun Expressway between the City's
central business district and the medical center complex be acquired, and
that there be constructed thereof one hundred and four (104) apartment units
cOinprising approximately eighty-eight thousand, four hundred (88,400) square
foot of building gross area; and after completion of the aforesaid project,
that the Five Hundred Thousand ($500,000.00) Dollar loan be repaid to the
City according to the terms and 8onditions of a Security Deed Note of even
date herewith; and
WHEREAS, the United States Department of Housing and Urban Development
requires that cOinpletion of the project as aforesaid and repayment of the
loan be guaranteed by Guarantor herein and the City and Developer have additionally
agreed that the aforesaid loan should not be made unless guaranteed by Guarantor;
and
WHEREAS, Guarantor stands to benefit in his capacity as
Shareholder of Developer from Developer's procuring the aforesaid
"
,
~_~t~'(~'>;:''''''~''''''~l.'~.~-'''.-r' ',,1.' ,." '.. " .;,.,,~.f'~,"'" . '.,;'. '-", .
..~~~,~~_~_,._.~_~~f'~~'rl!ti:~iW~~'IlI'_~,":!'"*~.i;;i;""""'l\~~,1A...,.......>_...'" ,,~,...... "
';<:i'i~~~~~i~_~i!:~("""~\QQ..i>:N,i~~~LJ.\Ir,;,..~<..~.
/t~~r.r#~~F;; ..~<', . . ,. , ..
I ..,.:~' : '". .
'.)., .
..' . t' , ' , '.'. 'L . 1-"
. . \ ," ,:".'1..'
~.,
.,.,
1'1.:'
~~
'i';
~.' .
~:'....
t"
~.
.,;-.:
~.:
f
t
\
-\Ilo,h "-hJ coi'lpietion of the tibove project "n<1 GUllru",,;r \,;,h"s
Ii
.1' to ::issute cOlllpletion of the aforcs;1il.l project ~nJ n'p:I)'lllcIH of
the afores~id loan;
. r;:'
';1 NOH. T1IEREFORE. [or ;1ml ih considcr~tion of the lilutual
1\
II promises ,,,,,I the be"efits rio<dng to ""J from the Ci ,,-, the
.,
:, Developer ;1nll Guarantor by the extcl1sion of the UDAt; IO~ln hereby
"
il contemplateJ, by the conshUctlon of the project "bovc-rdctenceJ,
il
1\
,\
!\
'I
!:
:lnJ by rep<lymcnt of the aforesaid UDAG 10;1n,
all a s ( \)11 t ~ 11\ P 1 ~ t e I.l
.! of. h'hich arc. atL-1.chcu hel'eto ::1111.\ by this t-cfci.cncc ill...:ui"\)orotcj
by the UDAG ::Igt-Ce111cnt ;JnJ the City-Developer I\gl'ccmcnt, copies
d
: herein;
i.
:i
\\
1\
"
.:1
the Guar3ntot does hereby covcndht <lnJ ngree hltb the
C i t Y . as f 0110\01 s :
Section i.
The GU:1r<lntor hereby ;Ibsolutely and uncoi\d it 101131 \y
LOAN R E P:\ y ~lENT GUr\R'\~TE E
;!
"
ii gLiar;;tnte~s to the City the full ;tnJ. prompt p~ymcl1t (jn ,1((01'-
il
l' u3nce h'ith th0 terms al1c1 provisions of the Security Deed ~ote
"
!i
:! bct\-iecn the City ::Incl the Developcr, ::I copy of \oJhich is ~tLithcd
d
\1
I.
II
\.
I;
i\
I,
\1
II
II
II
\
,
II
Ii
I
d
1\
;\
hereto c\l1d by this i:eferencc \ncorpor~tell herein) of ~111 ub/\G
i03r1 rcp;\yments \oIhcn 3hl\ <IS the S~ll11e sh::l.ll become t\UL' ~l1\d p;iy-
o.ble; I"hether :1t the stcttcd maturity thci"cof, or by :'(cc1cr~lti,)n
b rot he rI.J is e .
The Gu,lr<li\tbr also ~lbsolutely llnd unco1\...lition~11y
i1\~y incur in collecting the SUI1\S due untler thc "fon.':';;lid Security
gu:\\-,tntces the p:.lYli\Cnt to the Clty of 3i1y ~nu:.111 expenses
it
Deeu Note;
inc1ul\in~Lbut not limited to, attorneY's
[c (' s i it ;llt
;1mo un t cq ua 1 to
Fifteeii. percent
(15%) of the outst<tn\.\ing indcbtcJ-:
ness.due ;It .;lT~y.p3~tisular tillle.
If thcCity shail
r: I i. 1 t I)
t" ~ -
ceive ,my rcquirell pjyments 3$ anll 'vhen such pJ}'ments 5h311
becollle Jue, the GU~lr,lntor shJll iml1\cui<1tcly m3ke such r:1Ylill'llts
to the City in lcg~d tenuer of the Uniteu States aT .\iftcrit<1..
i ~
.:i . t .il.: ~ he,. C. ve. i.i t .. 6J ~\j-l)" :.:(<1 i Xu I: ~..: 6 r.: ~Ic t;.t l.il t:~) n; P;1 )"\i\c 1\ \. b~; . .~ 1,1,0,. Dc. "
. -,' ..
.. -
\: Hi oper..tb _ the _0 t ji ,: fh is guahlli tco is _ ii - p ti mo rji ti 11 J ,>t. i it in" 1
~ ,
~\ ciblig~l.tt.onot.th8 Gl1::1r8ntor ;1nu is ~tn ~lbsoll1te, ltllcoll\lit1.on:ll.
I
! continllihg~nJ' irrcvoclblc..g113f<1I1tec o( ,p~lY1llCnt and {wf of
:1
i\.col1cctibild.y or petfl)fm~lnCe ~nu ill no ,.,.jy conditione\.l or
II . . .
l\
1\
\1
,I
.,
I
- ? ~
~~
~
,<
j
~"i
\l~
" ~l
~:=~~~~'<~w'"_":':.'"_w,.~:~'~."'.,.. 'I
, '-".': ,FY;\:1t?~:\\'; ; ,
,',l i~- ," 1 ~1
~ '"';
. . '. !
contingent Upon ;:Iny dttetniJt to collect from the Dc\'cll)PCl. or
to feali:e upon arty of the propcrtie~ pledged by the Oevelo~er
to secure the reqUired rep<1ynient. This guarantee slwi 1 remain
full force 3nd effect. "'lthout respect to future (h:lng~s and
,
\ ln
\\
I
II
'I
!l
I.
ii
:'
I.
I'
il
I.
\i
d
"
i
!l
conditions. includin~ change
il\ 1<11", until the prillcip:ll anJ
311 other amouhts pjY3ble by the Developer to thc Cit~. under
the terms of the att3ched Security Deed Note shall h:l\.C been
paid or provided for,
Every default ih p::lyment or tile' princi-
p31 or iliterest of the s~lid Secur jty Dced ~ote snJ Ii
~l\'C
r i sc
to 3. separ:lte c~1Llse of action hereunder ~triJ separ:itc
sllit~
1113Y
be b r 0 ugh the r e Wlllc r <l sed c h (":1 U 5 C 0 [ act ion :1 r i ~ c s .
The
~U3rantor does hereby ",aive:
1.
Notice bf any <Jction t;:lken or omit.tell in reli;\nce
hereon ::lnJ of :1ny def:1Ult by the Guarantor
in the P:I>.;I'l'lit of
II any of the
:1
'!
foregoing sums;
2.
A h Y pre s e tl t n\ e nt, de n13. n d, not ice 0 r pro t I.' S toe
i
.1 any kind; ~ll1d
11
(I
il
I,i
\ to do C1ny other Jct ot. thing, I"hieh IlIight 1n ;II1Y m~llllle\" or to
I
\ ciny extent vary the risk of the GLJ:1f8ntor or I"hieh I~,i:~ht other-
i',1
lvi S e 0 per ~tt e ,1 s ~l d i s c h a r g c b f the C u (\ r ~ n t lH .
~ \
Ii
Ii
, shall be ~bsolutc anll llntollJition:d :1ntl continuing :lihl :>hall.
ire In a 1 n in f u 11 for c e and e f [e c t un t i 1 t he en t ire p r i n c i p <1 1
I
I: of and all other :1mounts pjy;:ible by the Developer to the City
-Ii pUl.suanl: to the terms.of the nttached Security Deed Nl)te Shall
,I
:1
\\h~vc been ptl id in fu11.
Ii
:1
"
!'
,\
:i.' . .
.... .'
3.
Any othel' tlct or thing, or omission or d~.d:1Y
Section II.
~,L\ TURE OF OlH. I G:\T ION
^ll obligations of the Guar,llltor under this .l:.U:lr:l11tee
Section Ill.
GU~\Ri\NTEE-OF -CO~IPTETION-OF PIZUJECT
The . G u a i' ~1 n t 6 l' doc S q [u r the l' g u a t :1 H tee U I \ t Q . t h 0 . C i t Y
......,..... :.~,.~,'/ ".'...:_.:"'J"'~" ",. ~-..~ ,.-.,.... .... -,' ..., ........,_. ...~.
:1 co 11,ip i c t i d T1, ~.f t, ~~ . P toj <:\ ~ t" to!.' ~ e ni~ 1 a t~. J .b Yo'. ct n~ ,...<1 (' s.c: ri.~JI.:.J . il~.. .
\: the UrbC1nDeveloptnent .Ae.lion Gr,Jl\t.agreenicnt bet",.e.('llthl'UlliteJ
.! . . . . ,.. .", . .
Ii
Ii
II
~ ~
Stat.cs Depnrtniei1t ~oL,I,lot}sing and Urblln Development ~\I1.lthc
i\
!I
<5-
\
~ I
.;;~.t;,~,,~,,~~-~""~_''''''M_'_''
'I
::1. .
-:1 ·
. '~
/t
]
J
;i~
',"II
.. .~
.~
.",
.~1
<~
.~
-.rj
l
".(1
i
.::11
....:,
.,.:,
01
..!
;..,1
..,
.'-1
.~
. 1'~
..,{
q
.,
I
it
.;.)
.~
'1
fA
~l
.,~
;~~
m
;1j
::~
:-:1
: .~~~
11
Ll!
J1
:i
:11
~
.:f~
. ::;~j
':;~~J.
.:~~
"-:,.'li
".'~
.;.~' j,
>;
:;~1'1
',;.tl
.~
:!~
;:~
.~}~ or theUnitell Stc.1te.s Oi":,;trict Court .for the Southern District of
.'~;~~i "!
~!~i
WI.. Georgi.:!.
;,~j I!,\'
:','?,
~
ilii
e~ ,;
..:kb,<oc ','. ..., "':;:'."1~":;'!;r~~;;,.:-F..'. ....'/;'"'!i'-f":"'..'7{;;.::';;,",?";~:;;"";;',~.'i:";;L\'~,!,,,,,,!.';.i:,..;~!ij!,;,,,,,-.;,,,r.';;~,,.:":?i;i~.-'~~";'F:l:J"0'~~~\l~y.::;';.'~''''''''~'~7~~'''~'Y'~'.'"'''''"",''+j~~'P;''';.;
~ilrt~~.._...n
--~
~ I
I
Jj .
\1
I
j
City bf August.:!, Georgia. 3nd :is descr'lbeJ .tnthc.'Cit~:iDcvcio.p.c~_.
. . .
1\ g rc cme n t ~ .. SpccYfi:c:a 11 y., .t he:' CuaYa~ tor' do'e ~u he r c'b y g u:l.r 3n-te c- - 'U.
! that the Developer sh311 acquire at a minimum, 3.7 :Icres of l:'lnd,
1\
located on 13th Street, South of t !~eJ o!ln C. C a 1 how) E :qH e s s \0.' a y
il
~, bcth'een
.;
the C i t Y 0 f .'\ u g us t a I s C c n t r a 1 bus i n e s s d i s t r i eta liLl
'I
!, the JneLlical center complex and shall construct thereon one
ii
I
I
I
!I
'I
I.
,i
II
Ii
Ii
I'
II
1\
!I
i
hundred and four (104)
apartment units comprising approxim.:ltcly
eighty-eight thous3ncl, four hundred (88,400) square leet of
building gross area.
The aforesaid property acquisi~ion shall
be made on or before 1"<larch 28, 1984, and completion o[ the
20 !.
iJpartmcl1t unit construction shall be on or beforc October
1984, or such other date
as may hereafter be agreed to by the
United States Dep~Htment of Ilousing 3nd Urb3n Developmcnt, the
:: City Council of Augusta, Gcorgia, ::lnJ ~Iark Developmcllt Comp,iny,
.,
:1
q
II
Inc.
The Guar.:lntor absolutely and unconditionally gU:lr.:lntees
acquisition of the property and completion of the ap:ll"tment con-
.,
:\ struction on the time tables 3S afores~1id.
I,
In the c \'V 11 t. t h:l t
:,
'I the Dc\'eloper.sh:lll default under any of his obligations [or
I.
I'
I!
:1
.,
acquisition of the property 01. COlilpletion of the ap,ntlllent
:! construction on the said time tables, Guarantor hereby agrees to
:1
" take any and all such steps, including infusion of adclitior\al
\1
ii monles,
'I
,
to insure that the project is completed.
,
"
Section IV.
CONSENT TO JURISDICTION.
:1
II
ii
:\ that any civil suit or CJuse of action brought against him as
The Guarantor hereby agrees without power of
revocat ion
il a result of any of the obligations under this guarantee may be
:\
~ !
prought 3g.:!inst hi~ in any ctiurt of com~~tent jurisdiction,
Federal or State, and the Guar:llltor hereby specific;1l1)' arrees
"
1\
'.l ;.ll\d consents to person;}l jurisdiction and venue over ~uch action
;,
,
j!
.1
l~rOpel'l)'. filed ill.the.~llpel;ior.Court o[ Richmond COUllt.y., Georgi0.,
- 4 -
~~~~~~~~Y~~~~0~....;..),1..,~,~...:,:~:~.,~.~.,
:.\.~i~~,~~~~~~~~...~.~J~~~.i" ~.. .
" ....1'..
;;. .. :(.
. .... '.: .'1\
.' . I
, II
Ii
II
'\
J,
. .11,
b~v~ioper ~ursuant to S~curity Deed Not~ or City/Dev010~cr
I!
,: Ag.rceinent; has occurred ;H\d is.contilluing, the Citv.. ill:I). p. i.o-
\\
11 tced hcrcwHlei' ::lno sh;ill have thc right t.o proceeti first <lnd
!\ Jirectly 3gainst the GUarahtor unJcr this gU~IrClnte(' hithout
II
I proceeding ag3ill$t or exhausting 311Y other remedies ,.:Idch it
in::i.y have unJc.r the Security Decd Notc or City/Devclop...". .'\grccmcnt
,\
II <Inti h'ithout resorting to any bthei- security ,helll by i L.
I'
,I
Sectioh V.
. PROCEEDINGS bIl~ECtLY J\Gi\I:\ST GtL\iC\NTOI(
h.henever any Jefault in the obllgatioiis of till'
Section VI.
NO RHIEDY EXC LUS 1 VE
.1
!i
:i Ci ty
1\
II
i\
No remcJy herein tonferreJ upon or rcserveJ to the
or
othen-d.se made avaiiable to the City is intended to
be exclusive of <.1ny other aviti13ble rcmetiy or rcmcJi,.:s, bUt
c;1ch remeJy sh~tll be cLiri,uLtivc nnd sh:111 be .in aJdit ioi, to
g u Cl i' ant e e
or no\\" or here-
'I every other remedy given under this
I'
'I
II
:1
!'
~o delay or Ollll:;.-;ion to
;1 f t ere xis tin g <l t 1 a ,oj 0 rill e qui t y .
exercise any right or po\Ver accruing iJpon the d8faUlt, omission
o r f ail lire 0 f per for 11\ a n c e her e 1I n de r 0 r 11 n d crt h (' See tI r i t Y l1e C \.l
!l
I, f\;ote or City/Develo~er Agreement sh~1l1 impair ;Jny ~ll(h right
j!
1'1 .
ot. po'~er or shall be construed to be II h'Giver. thereo!", but ~iliy
I'
II such right and power m"y be excrcised from tiTile to time "nd as
11 often as may be deemed expedient.
j!
i\..
r
J and fees inclUding ali reasonable attorney's fees \,.hich m::\y be
I
I . in cur r ed by. the. C i t Y i ~ en fo r ci n g 0 rat temp tin g toe 1\ r 0 r c e t 11 i 5
'I
gU<lt'antee following any event of default hereun\.ler or under the
Section VII.
ATtORN~Y'S FEES AND EXPENSES
The Guar3ntor hereby agrees to pJY all cost~; C;":PCllSC:S
Security Oeed Note or City/Dcveloper Agrecment re[crrL'd to ubo\.e,
, . -'-....-"-' --~. ---..--:....;.~ --,- .-~ --_. .------- .".._~--..,:_- --. --- ----'---
~ whether the snme shall be cn[orc~d by suit or othcr~ise.
II
;j 5 ec ti 6 n' V II .r~ 'r~~' Iv X rVER: .;., ,.,.' '.-' , . '.,:.. .:~...." .
\\1 f~'i\i' oJth~~rd ;is ions COil t ,,[heJ ill t his. !,ll" rail tec
.l'~h'l 11. be b rc eo he'd by . the Gua r,I.o to" . ,,,id the rca ftci' 1<,1 i ""el by the
jl tity., such h';11.\'crsh;H1.be limited to th3t particul:\t: hrcjch
.~ 5 -
l.
~~ft~~~
tl :l..\~~;~
. :
I
'II
{~~n~;~
~\:... .
~Jf~ar
\.:,!~p.\~.,~-
\,."!,'!',\;:.
I;;[~.
~"!~fJ'
..,..!.,.
~(fA:~"
1..""1'.
I~
~;{~~;":
! . :~"
,.."
I' : ~ ~:
-;1:.\",
~~,t~
~i;n
ti!.t\
f~\t\;
11.' .
l,If' ;
~<:r1:l..
~{f~.:
;~I~~~U~~~~~~~~~'i~U~iiri~~~~-~.~~"~~~"--------"''''''LO-",","--''----~--'-'''''-------'_---..~._>~.L..O..."'___>_b....___'"_u.___>._. ___-'--~..._"..___~..._L..d'_-
\:~ . .
:j~: '
;1
}~~
GN
.!1I
.~~
'.'\t'
',';.J
. :,~~i
!
I
II
I so \"<li.ved and sh,111 l10tbe .deellled to h:aive :lilY OthCl.. hi.c,lI.:h hCl"':--
i
i
un J e r .
;-";0 waiver,
allle-ild.llIcnt,-r.cle".se .~).r .lriot.iific:!ti'UI'. orthi.~"
:~
~
. i~
;:
71
>f
. '~...~:
.'
. ,
.:,~
>~
\~
:l~
...~
'~
.,:,
~.~
.. ':;.,i
!.li
;r.;~
"/;.
..~
:j
.j
,i1
guarantee -sh;)ll be established by conduct, custom or course of
Jcaling, but solely by ,In instrulllent in '-Titing duly executed
II by the parties hereto.
I
,
I
I.
il
I
Sectton IX.
EFFECTIVE DATE
The obligation of the Guarantor hereunder :::;11,\11
arise
, absolutely and unconditionally upon the execution hereof.
!I
./
Section x.
GOVERN ING LAlv
This g1l3r<J.ntce and the right:::; an\t oblig:ltioll:5 of the
p (1 r tie s he r e to s h a 11 be
govcrnct.t, construed clOd
in t c j. pre t e J
according to thp laws of the State of Georgia,
;1
ENT IRE AGRCH1ENT; COUf\TEf~P ARTS
Section XI.
.~'''l
~:~
~1
)1
I
.i:)j
:';~
>;~1
:;:~
-'j
1;~
:.'~
:~~
':,~:
.~~
!l
Thts gll;ll"nntec constitutcs the entire agreclI1cnt of
:1 guarantee Llnd slIpercedcs all prior Clgreements, both hrittcn
ii
.' and oral, bet\veen the parties hereto \.Jith respect to the subject
1.1'
ma t t e r he reo f .
I,
'I
II
II
~.;l Jeemed to be or shall, in fact, be invaliJ, inoper~ti\.c or unen-
.\ for c e a b 1 e ::1 s <J P pI i e J in any P;11" t 1 c lIl3 r c J S C i i1 any j u r is d i c t ion
I:
'! or jurisdictions or in all jurisdictions or 111 all clses because
Section XII.
-SEVERABI LITY
If an)' provision of this gU~lrantec shall be hcld or
j
.1;1
:A
1!
. '.]
.,
~~
'; ~
':~
:,.
':~
l~l
:;;
'.....
"',
it conflicts \-lith any other provisions hereof or an}' constitu-
I
II tion or s::atc statute or rule of public policy or for any other
II
!I reason, such circllmsLlnces shalt not have the effect \)f rCI1Llering
I
I any other provision or provisions herein contained invalid, in-
I
operative or unenforc~ablc to an)' cxtent Wh;ltCVC1..
II
.>1
A
. )~
..~
::i\
;j
,~
!-:k
':~~
."~
':~
J
:~~
'4
::
"~1
'J.
.:~
il
Ii
i;\
,I. thiS gU:lr all tce -.,n.c;"fo'{- co:rl\'l: r'i ic ilce.. On Iy-jnd ~s-h(ll-I- -lInt- bC~0n -..
,I
listTlIcd t6 effect the Illcaning or coris.truc~iO-'1 of an)' .of the pro-
il \. i 5 ion 5 he reo f .
II
Section XIII.
liE AD IN GS
The headings of the various articles and
sections
of
il
Ii
I
I
- 6 -
~ ;
:~~
.;\
'J
-f.~
.i:
~j
..,
;"-
. -:.' ::.>", "'1;:' a..:.';"..~f;:-.::l..~?;r.~~_,,'f '_:'. ~'-""::'. ~,'r;...,.
~ <'."1" .....~:r;;;:::.-:_;,:~.~~~f~~. tr~~~~~~~t.~~r~.(:li~~,,:,:"':~'~:f-,~:''f.-::~,~~, :f.:r::...~~,lIS.~~ !''-''!''r.~-9-:~"..,~_~~.;Jp'!::'~rr.'~t.,?:,~~,~.~;. .~...-;,.::"?,~.~,f.~~,,::":-:-~~_~,.
--~~.-~~~..-\':;;:--:~'!:;:'~~
, .
.,
.;; \ J
Section XIV.
HEIRS AND ASSIGNS
This guarantee shall be binding upon the undersigned Guarantor
and his respective heirs, successors and assigns and shall inure
to the benefit of and shall be enforecable by the City and its successors
and assigns.
IN WITNBSS WHEREOF, the Guarantor, the Developer and the City
have executed this guarantee the day and date first above written.
Attest:
BY:
BY:
INC.
"..\
AUGU A-RICHMOND COUNTY CG1MISSION t"
Succes'or by Consolidation
e i Coun.l of Augusta, Georgia
BY:
~~~~
1 rk of unci
/
-"
/
s....v
...,
. ~
.::