EXHIBIT 10.30
STATE OF GEORGIA
COUNTY OF DEKALB
THIS LEASE, made this the 16 day of December, 1991 , by and between STONE
MOUNTAIN INDUSTRIAL PARK, INC., A GEORGIA CORPORATION First Party, hereinafter
referred to as "Lessor"; and XXXXX CONTAINER GROUP, INC., A CORPORATION, Second
Party, hereinafter referred to as "Lessee";
WITNESSETH:
1 The Lessor, for and in consideration of the rents, covenants,
agreements, and stipulations hereinafter mentioned, received, and contained, to
be paid, kept and performed by the Lessee, has leased and rented, and by these
presents does lease and rent, unto the said Lessee, and said Lessee hereby
agrees to lease and take upon the terms and conditions which hereinafter appear,
the following described property (hereinafter called "Premises") to wit.
All that tract or parcel of land lying in and being in Land Xxx 000 xx xxx 00xx
Xxxxxxxx xx XxXxxx Xxxxxx, Xxxxxxx, and being more particularly described as
follows:
Beginning at a point on the west right-of-way line of Stone Ridge Drive 318.9
feet south of the southwest intersection of the right-of-way lines of Xxxxx Road
and Stone Ridge Drive; thence turning and running south along the said right-of-
way line of Stone Ridge Drive a distance of 300 ft. to a point; thence turning
and running in a westerly direction a distance of 866 ft. to a point; thence
turning and running in a northerly direction along the right-of-way line of
Xxxxxx Drive a distance of 300 ft. to a point; thence turning and running in an
easterly direction along the south right-of-way line of the Georgia Railroad a
distance of 870.9 ft. to the point of beginning, and being described by Xxxxx
Xxxxxxx Xxxxx dated December 31, 1965, and any and all appurtenances,
improvements, structures or buildings now or hereafter located upon the above
described parcel of land.
Included in this Lease is the existing 145,000 sq. ft. building and premises
known as 0000 Xxxxxx Xx. Xxxxx Xxxxxxxx, Xxxxxxx 00000.
Approval of this Lease by both parties shall auto terminate the Lease for the
building and premises located at 0000 X. Xxxxx xx Xxxx Xxxxxx effective January
31, 1992, without penalty or overlap of rental.
2 To have and to hold for a term of two (2) years; ten (10) months said
term to begin on the 1st day of February, 1992
3 Lessee shall pay to Lessor promptly on the first day of each month in
advance without demand during the term of this Lease, a monthly rental of
Twenty-Six Thousand and No/100 ($26,000.00) Dollars for thirty-four (34)
consecutive months.
(1)
UTILITY 4. Lessee shall pay all utility bills of all types,
BILLS including but not limited to water and sewer, natural gas,
electricity and sanitary pick up bills for the leased premises,
or used by Lessee in connection therewith. If Lessee does not pay
same, Lessor may pay the same and such payment shall be added to
the rental of the premises.
MORTGAGEE'S 5. Lessee's rights shall be subject to any bona fide
RIGHTS mortgage or deed insecure debt which is now, or may hereafter be,
placed upon the premises by Lessor, and Lessee agrees to execute
and deliver such documentation as may be required by any such
mortgagee to effect any subordination.
MAINTENANCE AND 6. Lessee shall not allow the premises to fall out of
REPAIRS BY repairs or deteriorate, and at Lessee's own expense, Lessee shall
LESSEE keep and maintain said premises, including lawn maintenance and
landscaping, in good order and repair, except portions of the
premises to be repaired by Lessor under terms of Paragraph 7
hereinafter set out. Lessee also agrees to keep all systems
pertaining to water, sewer, electrical, heating ventilation, air
conditioning and lighting in good order and repairs.
REPAIRS BY 7. Lessor agrees to keep in good repair the roof and
LESSOR exterior walls, exclusive of all glass and exclusive of all
exterior doors. Lessor gives to Lessee exclusive control of
premises and shall be under no obligation to inspect said
premises.
MODIFICATIONS 8. No modifications or alterations to the building or
AND openings cut through the roof are allowed without prior written
ALTERATIONS consent of Lessor.
TO THE
PREMISES
RETURN OF 9. Lessee agrees to return the premises to Lessor at the
PREMISES expiration, or prior termination, of this lease in as good
condition and repair as when first received, natural wear and
tear, damage by storm, fire, lighting, earthquake or other
casualty alone excepted.
DESTRUCTION 10. If premises are totally destroyed by xxxxx, fire,
OF OR DAMAGE lighting, earthquake or other casualty, this lease shall
TO PREMISES terminate as of the date of such destruction, and rental shall be
accounted for as between Lessor and Lessee as of the date. If
premises are damaged, but not wholly destroyed by any of such
casualties, rental shall xxxxx in such proportion as use of
premises has been destroyed, and Lessor shall resume premises in
substantially the same conditions as before damage as speedily as
practicable whereupon full rental shall recommence, provided
further, however, that if the damage shall be so extensive that
the same cannot be reasonably repaired and restored within six
(6) months' time from date of the casualty, then either Lessor or
Lessee may cancel this lease by giving written notice to the
other party within thirty (30) days from the date of such
casualty. And, in such event, rental shall be apportioned and
paid up to the date of such casualty.
INDEMNITY 11. Lessee agrees to Indemnify and save harmless the Lessor
against all claims for injuries to persons or damages to property
by reason of the use or occupancy of the leased premises, and all
expenses incurred by Lessor because thereof, including attorneys'
fees and court costs, but Lessee shall not be liable for the acts
of any other tenants of said property.
GOVERNMENTAL 12. Lessee agrees, at its own expense, to promptly comply
ORDERS with all requirements of any legally constituted public authority
made necessary by reason of Lessee's occupancy of said premises.
Lessor agrees to promptly comply with any such requirements if
not made necessary by reason of Lessee's occupancy. It is
mutually agreed, however, between Lessor and Lessee, that if in
order in comply with such requirements, the cost to Lessor or
Lessee, as the case may be, shall exceed a sum equal to one
year's rent, then Lessor or Lessee who is obligated to comply
with such requirements is privileged to terminate this lease by
giving written notice of termination to the other party by
certified mail, which termination shall become effective sixty
(60) days after receipt of such notice, and which notice shall
eliminate necessity of compliance with such requirement by party
giving notice unless party receiving such notice of termination
shall, before termination becomes effective, pay to party giving
notice all cost of compliance in excess of one year's rent, or
secure payment of such sum in manner satisfactory to party giving
notice.
CONDEMNATION 13. If the whole of the leased premises, or such portion
thereof as will make premises unusable for the purpose herein
leased, be condemned by any legally constituted authority for any
public use or purpose, then in either of said events the term
hereby granted shall cease from the time when possession thereof
is taken by public authorities, and rental shall be accounted for
or between Lessor and Lessee as of that date. Such termination,
however, shall be without prejudice to the right of either Lessor
or Lessee to recover compensation and damage caused by
condemnation from the condemnor. It is further understood and
agreed that neither the Lessee, nor Lessor, shall have any
rights to any award made to the other by any condemnation.
ASSIGNMENT 14. Lessee may not assign this lease, or any interest
thereunder, or sublet the premises in whole or in part without
the prior express written consent of Lessor, and without giving
prior written notice to Lessee of intent to assign or sublease.
Subtenants or assignees shall become liable directly in Lessor
for all obligations of Lessee hereunder, without relieving
Lessee's liability. Lessee agrees not to assign or sublease
premises to any one who will create a nuisance or trespass, nor
use the premises in any illegal purpose, nor in violation of any
valid regulations of any governmental body; nor in any manner to
violate the insurance. Lessee agrees that any increase in
Lessor's insurance premium caused by occupancy of any subtenant
will be paid by Lessee, Lessee further agrees that if such
subtenant or assignee is required to pay a rental amount greater
than the rental amount required to be paid by Lessee hereunder,
then Lessor shall be entitled to receive and shall be paid such
increased amount.
(2)
REMOVAL OF 15. Lessee may (if not in default hereunder) prior to the
FIXTURES expiration of this lease, or any extension thereof, remove all
fixtures and equipment which Lessee has placed in premises,
provided Lessee repairs all damages to premises caused by such
removal. Provided, however, Lessee shall not remove, under any
circumstances, the following: heating, ventilating, air
conditioning and lighting systems and fixtures.
CANCELLATION 16. It is mutually agreed that in the event: (A) the rent
OF LEASE herein reserved is not paid at the time and place when and where
due and Lessee fails to pay said rent within ten (10) days after
written demand from Lessor; (B) the leased premises shall be
deserted or vacated; (C) the Lessee shall fail to comply with any
term, provision, condition, or covenant of this lease, other than
the payment of rent, and shall not cure such failure within
twenty (20) days after notice to the Leasee of such failure to
comply; (D) Lessee causes any lien to be placed against the
leased premises and does not cure same within twenty (20) days
after notice from Lessor to Lessee demanding cure, in any of such
events, Lessor shall have the option at once, or during
continuance of such default or condition to do any of the
following, in addition to, and not in limitation of any other
remedy permitted by law or by this lease:
(1) Terminate this lease, in which event the Lessee
shall immediately surrender the premises to the Lessor. Lessee
agrees to indemnify Lessor for all loss and damage which Lessor
may suffer by reason of such termination; whether through
inability to relet the premises, or through decrease in rent, or
otherwise;
(2) Lessor, as Lessee's agent, without terminating
this lease, may terminate Lessee's right of possession, and, at
Lessor's option enter upon and rent premises at the best price
obtainable by reasonable effort, without advertisement and by
private negotiations and for any term Lessor deems proper. Lessee
shall be liable to Lessor for the deficiency, if any, between
Lessee's rent hereunder and the price obtained by Lessor on
reletting.
Pursuit of any of the foregoing remedies shall not preclude
pursuit of any of the other remedies herein provided or any other
remedies provided by law. Any notice in this provision may be
given by Lessor or his attorney.
ENTRY FOR 17. Lessor may card premises "For Rent" or "For Sale"
CARDING, ETC. ninety (90) days before the termination of this lease. Lessor may
enter the premises at reasonable hours during the term of this
lease to exhibit same to prospective purchasers or tenants and to
make repairs required of Lessor under the terms hereof, or to
make repairs to Lessor's adjoining property, if any.
EFFECTS OF 18. No termination of this lease prior to the normal ending
TERMINATION thereof, by lapse of time or otherwise, shall effect Lessor's
OF LEASE right to collect rent for the period prior to termination
thereof.
NO ESTATE 19. This contract shall create the relationship of landlord
IN LAND and tenant between Lessor and Lessee; no estate shall pass out of
Lessor; Lessee has only a usufruct, not subject to levy and sale,
and not assignable by Lessee except by Lessor's consent.
HOLDING 20. If Lessee remains in possession of premises after
OVER expiration of the term hereof, with Lessor's acquiescence and
without any express agreement of parties, Lessee shall be a
tenant at will at rental rate in effect at end of lease: and
there shall be no renewal of this lease by operation of law.
RIGHTS 21. All rights, powers and privileges conferred hereunder
CUMULATIVE upon parties hereto shall be cumulative but not restrictive to
those given by law.
NOTICES 22. Any notice given pursuant to this lease shall be in
wwriting and sent by certified mail to:
(a) Lessor in care of Stone Mountain Industrial Park,
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Inc., X.X. Xxx 00, Xxxxxx, Xxxxxxx 00000-0000 or such other
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address as Lessor may hereafter designate in writing to Lessee.
(b) Lessee in care of Xxxxx Container Group, Inc., 1625
---------------------------------
Xxxxxx Xxxxx, Xxxxx Xxxxxxxx, Xxxxxxx 00000 or such other address
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as Lessee may hereafter designate in writing to Lessor.
WAIVER OF 23. No failure of Lessor to exercise any power given Lessor
RIGHTS hereunder, or to insist upon strict compliance by Lessee with its
obligations hereunder, and no custom or practice of the parties
at variance with the terms hereof shall constitute a waiver of
Lessor's rights to demand exact compliance with the terms hereof.
TIME OF ESSENCE 24. Time is of the essence of this Agreement.
DEFINITIONS 25. "Lessor" as used in this lease shall include first
party, its heirs, representatives, assigns and successors in
title to the premises. "Lessee" shall include second party, its
heirs and representatives, assigns and successors, and if this
lease shall be validly assigned, or sublet shall include also
Lessee's assignees or sub-lessees as to premises covered by such
assignment or sub-lease, "Lessor" and "Lessee" include male and
female, singular and plural, corporation, partnership or
individual, as may fit the particular parties.
(3)
EXTERIOR 26. Lessee shall have the right to erect at Lessee's sole
SIGNS expense a sign on an exterior wall of the building on the
premises. This sign shall be securely attached and parallel to
said wall, and shall not be other than a customary trade sign
identifying the business of Lessee. Lessee shall not erect this
sign over the roof line or on the roof, nor shall it paint or
otherwise deface the exterior walls of the building. The
erection of this sign by Lessee shall be subject to and in
conformity with all applicable laws, zoning ordinances and
building restrictions or covenants of record. On or before
termination of this lease Lessee shall remove the sign thus
erected, and shall repair any damage of disfigurement, and close
any holes, caused by such removal.
AD XXXXXXX 00. Lessee shall pay as additional rent all ad valorem
TAXES real estate taxes assessed and levied against the premises for
full fiscal years within the lease term and shall pay a per diem
apportionment thereof for the fiscal years in which the lease
commences and terminates.
USE OF 28. Premises shall be used for office, warehouse and
PREMISES AND ---------------------
INSURANCE distribution of plastic products and other related purposes.
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Premises shall not be used for any illegal purposes, nor in any
manner to create any nuisance or trespass; nor in any manner to
vitiate the insurance, based on the above purposes for which the
premises are leased.
Lessee will carry, at Lessee's sole cost and expense, "All
Risk" Insurance Coverage on the demised premises in an amount not
less than $ 3,000,000 or the full insurable value, whichever is
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greater. The term "full insurable value" shall mean the actual
replacement cost, excluding foundation and excavation costs, as
determined by Lessor. Such policies shall name the Lessor as an
additional named insured.
All insurance provided for in this lease shall be affected
under enforceable policies issued by insurers of recognized
responsibility licensed to do business in this state. At least 15
days prior to the expiration date of any policy, the original
renewal policy for such insurance shall be delivered by the
Lessee to the Lessor. Within 15 days after the premium on any
policy shall become due and payable, the Lessor shall be
furnished with satisfactory evidence of its payment.
If the Lessee provides any insurance required by this lease
in the form of a blanket policy, the Lessee shall furnish
satisfactory proof that such blanket policy complies in all
respects with the provisions of this lease, and that the coverage
thereunder is at least equal to the coverage which would be
provided under a separate policy covering only the leased
property.
If the Lessor so requires, the policies of insurance
provided for shall be payable to the holder of any mortgage, as
the interest of such holder may appear, pursuant to a standard
mortgagee clause. All such policies shall, to the extent
obtainable provide that any loss shall be payable to the Lessor
or to the holder of any mortgage notwithstanding any act or
negligence of the Lessee which might otherwise result in
forfeiture of such insurance. All such policies shall, to the
extent obtainable, contain an agreement by the insurers that
such policies shall not be cancelled without at least thirty days
prior written notice to the Lessor and in the holder of any
mortgage to whom loss hereunder may be payable.
Lessee will carry at Lessee's own expense insurance coverage
on all equipment, fixtures and appliances.
THIS LEASE contains the entire agreement of the parties
hereto, and no representations, inducements, promises or
agreements, oral or otherwise, between the parties, not embodied
herein, shall be of any force or effect.
If any term, covenant or condition of this lease or the
application thereof to any person, entity or circumstance shall,
to any extent, be invalid or unenforceable, the remainder of this
lease, or the application of such term, covenant, or condition to
persons, entities or circumstances other than those which or to
which sued may be held invalid or unenforceable, shall not be
affected thereby, and each term, covenant or condition of this
lease shall be valid and enforceable to the fullest extent
permitted by law.
IN WITNESS WHEREOF, the parties herein have hereunto set
their hands and seals, the day and year first above written.
STONE MOUNTAIN INDUSTRIAL
PARK, INC.,
A GEORGIA CORPORATION
(CORP. SEAL)
By: /s/ Xxxxx X. Xxxxxx
--------------------------------
Title: Xxxxx X. Xxxxxx,
Vice President
LESSOR
Signed, sealed and
delivered in the
presence of:
/s/ Xxxxxxx X. XxXxxxx
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Witness
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Notary Public XXXXX CONTAINER GROUP, INC.
(CORP. SEAL)
By: [SIGNATURE APPEARS HERE]
----------------------------
Title: V.P. Finance
Signed, sealed and LESSEE
delivered in the
presence of
/s/ Xxxxxx X. Xxxxxx
----------------------
Witness
/s/ Xxxxx Xxxxx
----------------------
Notary Public
My Commission expires: 08-18 92
(4)
FIRST AMENDMENT TO LEASE
------------------------
THIS FIRST AMENDMENT TO LEASE made this 28TH day of February, 1994, by and
between STONE MOUNTAIN INDUSTRIAL PARK, INC., First Party, hereinafter referred
to as "Lessor", and WINCUP HOLDINGS, INC., Second Party, hereinafter referred to
as "Lessee";
WITNESSETH
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WHEREAS, Lessor and Xxxxx Container Group, Inc., have previously entered
into a lease dated December 16, 1991, whereby Lessor leased to Xxxxx Container
Group, Inc., 145,000 square feet known as 0000 Xxxxxx Xxxxx, Xxxxx Xxxxxxxx,
Xxxxxxx, reference being specifically made to said lease for further
description, and
WHEREAS, the term of the Lease began February 1, 1992 and is set to expire
October 31, 1994, and
WHEREAS, Xxxxx Container Group, Inc., was acquired by WINCUP HOLDINGS,
INC., now known as Lessee, and
WHEREAS, the Lessor and Lessee are desirous of making certain changes in
the Lease;
NOW THEREFORE, in consideration of the mutual covenants and conditions
herein, acknowledged by both parties to be adequate and sufficient, the parties
hereto agree as follows:
1. The term of the Lease shall be amended to run for a five(5) year term
beginning March 1, 1994 and ending February 28, 1999.
2. Lessee shall pay to Lessor as rental promptly on the first day of each
month in advance without demand during the term of this lease a monthly rental
of Twenty-Six Thousand Four Hundred Sixty-Two and No/100 ($26,462.00) Dollars.
3. In any month that the rental payment is not received by Lessor by the
10th day of the month, Lessor will assess and Lessee agrees to pay five (5%)
percent additional rent in the month in which the rent was not paid by the 10th.
4. Except as expressly amended herein, the Lease shall remain in full
force and effect as set forth in the March 30, 1992 Lease as heretofore
referenced.
1
IN WITNESS WHEREOF, Lessor and Lessee have duly executed this Amendment to
Lease as of the day and year first above written.
STONE MOUNTAIN INDUSTRIAL PARK, INC.
A GEORGIA CORPORATION (CORP.SEAL)
By: /s/ Xxxx X. Xxxxxxxx
---------------------------------
Xxxx X. Xxxxxxxx, Vice President
Signed, sealed, and delivered LESSOR
in the presence of:
[SIGNATURE APPEARS HERE]
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Witness
WINCUP HOLDINGS, INC. A DELAWARE
CORPORATION (CORP. SEAL)
By:/s/ Xxxxxx Xxxxxxxx
-------------------------------
Title: SR. VICE PRESIDENT
ADMINISTRATION
Signed, sealed, and delivered LESSEE
in the presence of:
/s/ Xxxxxx X. Xxxxxx
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Witness
2
