EXHIBIT 10.33
INDEMNITY AGREEMENT
This Indemnity Agreement made and entered into this the
30th day of December, 1993, by and between GENERAL MANUFACTURED
HOUSING, INC., a Georgia Corporation with offices in Xxxx County,
Georgia as Indemnitor and WAYCROSS AND XXXX COUNTY DEVELOPMENT
AUTHORITY, a body politic, as Indemnitee,
W I T N E S S E T H :
WHEREAS, simultaneously herewith Indemnitor is selling
and conveying to Indemnitee all its right, title and interest in
and to real and personal property described in Exhibit "A"
attached hereto and made a part hereof by reference; and
WHEREAS, also simultaneously herewith Indemnitee is
executing and delivering a Deed to Secure Debt, Security
Agreement, UCC-1 Financing Statement in favor of The Xxxxxxxxx
Bank pledging the real and personal property described in Exhibit
"A" as collateral for a Loan in the amount of $613,727.63; and
WHEREAS, also simultaneously herewith Indemnitor as
Lessee and Indemnitee as Lessor are entering into a Contract of
Lease and Rent ("Lease"); and
WHEREAS, Indemnitee is requiring as a term of the Loan
that Indemnitor save, indemnify and hold harmless Indemnitee from
all liability resulting from any deficiency from the Loan entered
into herewith.
NOW, THEREFORE, for and in consideration of the
premises, the mutual covenants and benefits herein contained, the
Parties hereto do hereby agree as follows:
Indemnification.
Indemnitor hereby agrees to save, hold harmless and
indemnify Indemnitee against any and all liability, loss, or
damage, Indemnitee may suffer as a result of deficiency should
Indemnitor default under the terms and conditions of the Lease.
It is intended and agreed that Indemnitor will pay to Indemnitee
the amount of any such loss or liability in cash. It is further
understood and agreed that Indemnitee as a body politic is
intended to be a "pass through" party and is not intended to
incur liability for the Loan.
IN WITNESS WHEREOF, the Parties have executed this
Agreement by and through their duly authorized officers the day
and year first above written.
GENERAL MANUFACTURED HOUSING, INC.,
Indemnitor
BY: /s/ Xxxxxx X. Xxxxxx Pres
ATTEST: /s/ [illegible] Sec.
Signed, sealed and delivered
in the presence of:
/s/ [illegible]
WITNESS
/s/ Xxxxxx [illegible]
NOTARY PUBLIC
My commission expires:
SEAL Stamped
WAYCROSS AND XXXX COUNTY
DEVELOPMENT AUTHORITY, Indemnitee
BY: /s/ [illegible]
ATTEST: [illegible]
Secretary
Signed, sealed and delivered
in the presence of:
/s/ [illegible]
WITNESS
/s/ Xxxxxx [illegible]
NOTARY PUBLIC
My commission expires:
SEAL Stamped
EXHIBIT A
PARCEL ONE: All that tract of land in Xxxx County, Georgia,
being a part of Land Xxx Xx. 000 of the 8th Land District of Xxxx
County, Georgia, said tract described as follows: BEGINNING at a
point on the western margin of Industrial Boulevard, in the
Waycross-Xxxx County Industrial Park, at the southwestern corner
of the intersection of Industrial Boulevard and Xxxxxxx Road;
thence from said beginning point S 18 1/2 11' W a distance of 1045
feet to a point; thence S 85 1/2 53' W at an interior angle of
112 1/2 18' a distance of 432.3 feet to a point; thence N 18 1/2 11' E at
an interior angle of 67 1/2 42' a distance of 1096 feet to the
southerly margin of Xxxxxxx Road; thence S 87 1/2 36' E at an
interior angle of 105 1/2 47' a distance of 415.6 feet to the point
or place of beginning; Said tract of land containing
approximately 9.82 acres of land and bounded on the north by
Xxxxxxx Road; on the East by Industrial Boulevard; on the South
by Scapa Drive; and West by other lands of Xxxx County, Georgia.
Said tract is further described by a survey and plat made by X.
X. Xxxxxx dated 7/24/62, for Waycross and Xxxx County Development
Authority, recorded in the office of the Clerk of Xxxx Superior
Court in Plat Book "A", Page 938, to which plat reference is
hereby made for all property purposes.
SUBJECT TO: an Easement for utilities 30 feet wide, beginning at
the southwest corner of the intersection of Xxxxxxx Road and
Industrial Boulevard and extending south of uniform width along
the western margin of Industrial Boulevard to the northwest
corner of the intersection of Industrial Boulevard and Scapa
Drive.
SUBJECT TO: an encroachment for an existing county road across
the southeastern corner of said tract at the intersection of
Scapa Drive and Industrial Boulevard; reference being made to the
above stated plat which sows said encroachment which is
approximately 12 feet at its widest point on Scapa Drive,
diminishing to 1 along Industrial Boulevard at a distance of
approximately 100 feet.
PARCEL TWO: All those plots, pieces parcels or tracts of land
situate, lying and being in the County of Xxxx, State of Georgia,
more particularly described as follows:
TRACT 1:
All that tract or parcel of land situate, lying and
being in the 125th and 152nd Land Lots of the Eighth Land
District of Xxxx County, Georgia, and more particularly described
as follows:
To arrive at the Point of Beginning, commence at the
northeast corner of the intersection of Albany Avenue Extension
with Industrial Boulevard and run thence North 17 1/2 53' East along
the east margin a distance of 424 feet to an iron pin at the
POINT OR PLACE OF BEGINNING, continue thence North 17 1/2 53' East a
distance of 400 feet to a concrete monument; run thence South
72 1/2 07' East a distance of 680 feet to a concrete monument; run
thence Xxxxx 00 0/0 00'00" Xxxx a distance of 415 feet; run thence
Xxxxx 00 0/0 00'00" Xxxx a distance of 399.4 feet; run thence South
72 1/2 07' East a distance of 598.65 feet; run thence South 01 1/2 10'
East a distance of 848.87 feet; run thence South 89 1/2 08' West a
distance of 604.97 feet to an axle; run thence South 01 1/2 10' East
a distance of 848.87 feet; run thence South 11 1/2 59' West a
distance of 103.70 feet to a concrete monument; run thence North
72 1/2 07' West a distance of 713.5 feet to the POINT OR PLACE OR
BEGINNING.
TRACT 2:
All of that tract or parcel of land being in Xxxx
County, Georgia, described as follows: To obtain the starting
point of the property hereby conveyed, begin where the center
line of U.S. Highway #82 would intersect with the eastern right
of way line of Industrial Boulevard, if extended; thence from
this point run North 10 1/2 11' East along the easterly margin of
Industrial Boulevard a distance of 1036.5 feet to a point on the
easterly margin of Industrial Boulevard marked by a concrete
marker, which point is the BEGINNING POINT of the property
described and conveyed; thence from this Beginning Point run
North 18 1/2 11' East along the easterly margin of Industrial
Boulevard a distance of 700 feet to a point marked by a concrete
marker; thence at an inside angle of 90 1/2 run South 71 1/2 49' East a
distance of 400 feet to a point marked by a concrete marker;
thence at an inside angle of 132 1/2 19' run South 24 1/2 18' East a
distance of 399.4 feet to a point marked by a concrete marker;
thence at an inside angle of 135 1/2 31' run South 18 1/2 11' West a
distance of 415 feet to a point marked by a concrete marker; run
thence North 71 1/2 49 West a distance of 680 feet to the eastern
margin of Industrial Boulevard, the POINT OR PLACE OF BEGINNING.
1 couch
1 4 ft light fixture
8 large file cabinets
3 desks
1 5 tables
3 small file cabinets
1 counter 6 ft 8 in long
4 plastic file holders
1 telephone
1 IBM Typewriter
3 wire storage baskets
1 table file
1 end table
2 office chairs
2 plastic table files 15x10
1 trash can
1 desk
1 small file cabinet
1 desk chair
1 folding chair
2 trash cans
1 coffee table
1 AM & FM stereo system
2 speakers in wall
1 message board (2 ft x 3 ft)
1 desk
1 office chair
1 round trash can
1 blind
1 speaker in wall
Ceiling damage by water in big office
1 desk
1 wall speaker
1 small file cabinet
1 stack wire storage file
1 large cabinet
1 6 ft desk
2 office chairs
1 med. table
3 blinds
3 curtains
1 wall speaker
1 copy machine
1 Royal commercial vac cleaner
1 mop and bucket
1 wall speaker
1 office chair
7 storage boxes - legal size
3 storage boxes - letter size
1 4 ft light
1 light cover 18 inches
1 light cover 10 inches
1 table
1 large built in file cabinet
1 built in shelves
4 lights 4 ft
2 4 ft lights - 1 without cover
1 small cabinet 24 x 48
1 wall cabinet 18 x 6 ft
2 lights with covers
2 lights with covers
1 desk pad 58 x 58
5 wall lights
1 ceiling fan with light fixture
3 elec wall heaters
4 4 ft lights
1 small round light
1 wall paper holder
1 square light fixture on hall wall with 6 bulbs
2 6 ft book cases
1 small book case 4 ft x 18 inches
2 lights with covers
2 lights without covers
7 large file cabinets
2 large book shelves 4 x 80 inches
4 lights without covers
2 lights with covers
3 curtains
