1
EXHIBIT 10.6
LEASE AGREEMENT
THIS LEASE AGREEMENT ("Lease") is entered into this 19th day of April,
1996, by and between B.E. XXXXXXXXXXX ("Lessor") and AMERICAN CABLE COMPANY,
INC. ("Lessee").
WHEREAS, Lessor owns certain real property located in Muscogee County,
Georgia being known as 0000 Xxxxx Xxxx, and being more particularly described
on Exhibit "A" attached hereto (the "Lessor's Property"); and
WHEREAS, Lessee desires to lease from Lessor and Lessor desires to lease
to Lessee a portion of Lessor's Property for the hereinafter described
purposes.
NOW, THEREFORE, for good and valuable consideration the receipt and
sufficiency of which are hereby acknowledged, Lessor and Lessee agree as
follows:
1. Property. Subject to the following terms and conditions,
Lessor leases to Lessee the property which is described in Exhibit "B" attached
hereto (the "Property"). The Property will be leased by Lessor to Lessee
subject to all applicable zoning ordinances, recorded easements, restrictions
and covenants, laws, rules and regulations.
2. Use. The Property may be used by Lessee to construct, operate
and maintain a building, fencing and facilities to house Lessee's equipment and
other property (the "Improvements"), including without limitation, fiber optic
cable and equipment for the purpose of transmitting and receiving various types
of communication, digital, electronic and/or other signals in any and all
frequencies; and to build, construct or do any other related facilities and
activities, and for no other use (the "Intended Use"). In no event shall
Lessee use the Property in violation of any applicable law, rule or regulation.
Lessor agrees to cooperate with Lessee in obtaining, at Lessee's expense, all
licenses and permits required for Lessee's use of the Property (the
"Governmental Approvals"). Lessee represents and warrants that the Intended
Use will not adversely affect or interfere with Lessor's current use of
Lessor's Property.
3. Initial Term. The initial term of this Lease shall be five
(5) years, commencing on the date hereof ("Commencement Date") and terminating
on the fifth anniversary of the Commencement Date ("Initial Term").
4. Renewal Terms. Lessee shall have the right to extend this
Lease for four (4) additional five (5) year terms ("Renewal Terms"). Each
Renewal Term shall be on the same terms and conditions as set forth in this
Lease except that Rent shall increase as provided in Paragraph 5(c). This
Lease shall automatically be renewed for each successive Renewal Term unless
Lessee notifies Lessor of Lessee's intention not to renew the Lease at least 30
days prior to the expiration of the Initial Term or the Renewal Term which is
then in effect.
5. Consideration.
(a) Upon the Commencement Date, Lessee shall pay Lessor
the sum of Two Hundred and No/100 Dollars ($200.00) per month as rental
("Rent"). Rent shall be payable in advance to Lessor at Lessor's address as
specified in Paragraph 20 below, on the first day of each month during the
Initial Term or any Renewal Term beginning on the first day of the month
following the Commencement Date;
(b) If this Lease is terminated for any reason other than
Lessee's default, then all Rent paid in advance shall be prorated to the date
of termination and shall be refunded to Lessee;
(c) The Rent payable by Lessee during each successive
year of the Initial Term and any Renewal Term commencing on the first (1st) day
of the thirteenth (13th) month of the Initial Term, shall be adjusted at that
time and every twelve (12) months thereafter (the "Adjustment Month") for the
remainder of the Initial Term and any Renewal Term as follows: the monthly
installment of Rent for the immediately preceding twelve (12) month period
shall be increased by multiplying said amount times a fraction, the denominator
of which is the Consumer Price Index number, published by the U.S. Department
of Labor, Bureau of Labor Statistics in the Consumer Price Index for All Urban
Consumers - U.S. City Average, All Items (1982-84=100) (the "CPI"), for the
calendar month preceding the Commencement Date and the numerator of which is
the CPI number for the month preceding the Adjustment Month of each successive
12-month period for which the computation is made. If the CPI is discontinued,
then Lessor shall designate a comparable index to be used in lieu thereof for
the purposes hereof; and
(d) Lessee shall pay to Lessor on the Commencement Date a
prorated amount of the Rent for the period from the Commencement Date to the
end of the calendar month in which the Commencement Date occurs.
6. Lessor's Representations and Warranties. Lessor represents
and warrants, to the best of Lessor's knowledge, as follows:
(a) The Intended Use is not prohibited by any unrecorded
covenants, restrictions, reciprocal easements, servitudes, subdivision rules or
regulations;
(b) There are no unrecorded easements, licenses, rights
of use or other encumbrances on the Property which will interfere with or
constructively prohibit the Intended Use;
(c) The execution, delivery and full performance of this
Lease by Lessor does not constitute a violation of any contract, judgment,
decree, security deed or other restriction of any kind of which Lessor is party
of which Lessor is bound;
(d) Lessor has executed and entered into this Lease free
from fraud, undue influence, duress, coercion or any other defenses to the
execution of this Lease; and
(e) This Lease constitutes the valid binding obligation
of Lessor enforceable against Lessor in accordance with its terms.
2
7. Lessee's Representations and Warranties. Lessee represents
and warrants as follows:
(a) The parties executing this Lease on behalf of the
Lessee are fully and properly authorized to execute and deliver this Lease to
the Lessee;
(b) That the execution, delivery in full performance of
the Lease by Lessee does not constitute a violation of any contract, judgement,
decree or other restriction of any kind of which Lessee is a party or of which
Lessee is bound;
(c) Lessee is executing and entering into this Lease free
from fraud, undue influence, duress, coercion or any other defenses to the
execution of this Lease;
(d) This Lease constitutes the valid binding obligation
of Lessee, enforceable against Lessee in accordance with its terms; and
(e) Lessee is duly organized, and invalidly existing in
the state of its organization and has full power and authority to enter into
this Lease, to perform Lessee's obligations hereunder and to transact business
in the State of Georgia.
8. Conditions Subsequent. In the event that the Intended Use is
actually or constructively prohibited through no fault of Lessee then this
Lease shall terminate and be of no further force or effect and Lessee shall be
entitled to a refund from Lessor of any deposits or prorated Rent paid to
Lessor Prior to the date upon which Lessee gives Lessor notice of its intent to
terminate this Lease pursuant to this Paragraph.
9. Interference. Lessor shall not use, nor shall Lessor permit
its lessees, licensees, invitees or agents to use any portion of adjacent real
property owned by Lessor in any way which interferes with the operations of
Lessee. Such interference shall be deemed a material breach of this Lease by
Lessor and Lessor shall have the responsibility to terminate said interference.
In the event any such interference does not cease or is not promptly rectified,
Lessor acknowledges that continuing interference will cause irreparable injury
to Lessee, and Lessee shall have the right, in addition to any other rights
that it may have at law or in equity, to bring action to enjoin such
interference or to terminate this Lease immediately upon notice to Lessor.
Notwithstanding any provision herein to the contrary, Lessee acknowledges that
Lessor operates a veterinary clinic on the Lessor's Property, and Lessee agrees
that any interference with Intended Use from the normal and ordinary operations
of said veterinary clinic shall not be such interference as described in this
Paragraph and Lessor shall have no liability to Lessee therefore.
10. Improvements; Utilities; Access.
(a) Lessee shall have the right, at Lessee's sole cost
and expense, to erect and maintain the Improvements on the Property. Lessee
agrees that the Improvements will be completed in accordance with all
applicable laws, rules, regulations and codes and Lessee will promptly pay for
all work, labor or services done or materials furnished in connection with the
construction and maintenance of the Improvements and the Lessee will not permit
any mechanic's, materialman's or any other type of lien or claim of lien to be
filed against the Property by reason of or related to any such work, labor,
services or materials. If any such lien or claim of lien is filed at any time
against the Property, Lessee shall indemnify and hold Lessor harmless from the
same and shall, within thirty(30) days after receipt of actual notice of the
filing thereof, cause such lien to be removed with respect to the Property. If
Lessee fails to cause said lien to be so removed within the thirty (30) day
period, in addition to any other right or remedy of Lessor, Lessor shall be
entitled , but not obligated, to discharge said lien in any manner that Lessor,
in his sole discretion, shall determine, and the cost of doing so, including
reasonable attorney's fees, will be repaid to Lessor by Lessee as additional
rent, immediately upon demand. The Improvements shall remain the exclusive
property of the Lessee, and Lessee shall, upon Lessor's request, remove the
Improvements from the Property following any termination of this Lease.
Nothing herein shall be construed to require and Landlord shall have no
obligation to erect, replace, maintain or repair any of the Improvements. Upon
the termination of this Lease, Lessee may offer to sell to Lessor any portion
of the Improvements at a mutually acceptable price.
(b) Lessor hereby grants to Lessee, during the Initial
Terms and all Renewal Terms, the right and easement to install utilities, at
Lessee's expense, improve present utilities on the Property (including but not
limited to the installation of emergency power generators), and to permanently
place utilities on (or to bring utilities across or under ) the Lessor's
Property to service the Property and the Improvements. This utility easement
shall be fifteen (15) feet in width and the north line of said easement shall
extend from the northwest corner of the Property to a point located on the
easterly margin of Effingham Way in a direction which is parallel with the
north line of the Property and south line of said easement shall extend from
the southwestern corner of the Property to a point on the easterly margin of
Effingham Way in a direction which is parallel to the southern line of the
Property. Lessor shall, upon Lessee's request, execute a separate written
easement to the utility company providing the service or Lessee in a form which
may be filed of record evidencing this right.
(c) Lessor hereby grants to the Lessee and Lessee's
successors, sublessees and assigns at all times during the Initial Term and any
Renewal Term, the nonexclusive right and easement of ingress, egress, and
access from the Property across the Lessor's Property to the open and improved
public roads which presently exist (the "Easement") which Easement shall be
adequate to service the Property and the Improvements. If no such public roads
exist or cease to exist in the future, Lessor will grant an appropriate
easement to Lessee, Lessee's successors, sublessees and assigns so that Lessee
may, at its own expense, construct a suitable private access drive to the
Property and the Improvements; provided, however, said drive shall not
interfere with Lessor's use of Lessor's Property. This Paragraph grants and is
evidence of the granting of an Easement for ingress, egress and access,
however, Lessor agrees, upon Lessee's request, that Lessor shall execute an
easement in a form which may be filed of record evidencing this right. Lessor
and Lessee shall each maintain access to the Easement in a free and open
condition so that no interference is caused to the other party by other
lessees, licensees, invitees or agents of either party which may utilize the
Easement. Notwithstanding the preceding, Lessee will use its best efforts to
access the Property from Effingham Way along or through the utility easement
described in paragraph 10(b) above, and Lessor hereby grants and authorizes
such access through said utility easement.
11. Termination. Except as otherwise provided herein, this Lease
may be terminated, without any penalty or further liability, upon written
notice as follows:
(a) By either party upon a default of any covenant or
term hereof by the other party which default is not cured within 60 days of
receipt of written notice of default (without, however, limiting any other
rights available to the parties pursuant to any other provisions hereof);
provided, that if the defaulting party commences good faith efforts to cure the
default within such period and diligently pursues to completion such cure, the
non-defaulting party shall no longer be entitled to declare an default;
3
(b) Upon 30 days' written notice by Lessee to Lessor if
Lessee is unable to obtain or maintain through no fault of Lessee any license,
permit or other Governmental Approval necessary to the construction and
operation of the Improvements or Lessee's business; or
(c) By Lessee for any reason or no reason at all upon six
(6) months advance written notice from Lessee to Lessor.
12. Subleases and Assignment. Lessee at its sole discretion shall
have the right to assign its interest in and to this Lease and/or sublease the
Property and space in or on the Improvements to others who would use the
Property for the Intended Use. Lessee's sublessee(s) and assignee(s) shall be
subject to the terms hereof and entitled to rights provided herein as if said
sublessee were the Lessee under this Lease. Lessee agrees that Lessee will
give Lessor written notice of such assignment or sublease; provided, however,
the failure to give such notice shall not nullify or adversely affect the
validity of said assignment or sublease. Further, unless otherwise agreed, any
such assignment or sublease shall not relieve Lessee of any liability
hereunder.
13. Taxes. Lessee shall pay any personal property taxes assessed
on, or any portion of such taxes directly attributable to, the Improvements.
Lessor shall pay when due all real and other personal property taxes and all
other fees and assessments attributable to the Property. Lessee shall pay as
additional Rent any increase in real property taxes levied against the Property
which are directly attributable to the Improvements or Lessee's use of the
Property and Lessor agrees to furnish proof of such increase to Lease.
14. Destruction of Premises. If the Property or the Improvements
are destroyed or damaged so as to hinder effective use of Improvements in
Lessee's judgment, Lessee may elect to terminate this Lease as of the date of
the damage or destruction by so notifying the Lessor. In such event, all
rights and obligations of Lessee to Lessor shall cease as of the date of the
damage or destruction and Lessee shall be entitled to reimbursement of any Rent
prepaid by Lessee.
15. Condemnation. If a condemning authority takes all of the
Property, or a portion sufficient in Lessee's determination, to render the
Property in the opinion of Lessee unsuitable for the use which Lessee was then
making of the Property, this Lease shall terminate as of the date the title
vests in the condemning authority. Lessor and Lessee shall share in the
condemnation proceeds in proportion to the values of their respective interests
in the Property (which for Lessee shall include, where applicable, the value of
its Improvements, moving expenses, prepaid rent and business dislocation
expenses). A sale of all or part of the Property to a purchaser with the power
of eminent domain in the face of the exercise of eminent domain shall be
treated as a taking by condemnation for the purposes of this Paragraph.
16. Hold Harmless.
(a) Lessee will and does hereby indemnify, release and
save harmless Lessor and Lessor's agents, employees, and attorneys from and
against any and all law suits, actions, judgments, damages, costs, expenses and
reasonable attorneys' fees incurred in the defense of any action or proceedings
arising out of or relating to a loss of life, personal injury, property damage
or any and all other demands, claims or actions of any nature arising out of or
related to Lessee's use and occupancy of Lessor's Property, excepting only
claims arising out of the negligent or intentional acts of Lessor and Lessor's
employees, agents or independent contractors. This indemnification and hold
harmless provision shall survive the termination of this Lease.
(b) Lessor will and does hereby indemnify, release and
save harmless Lessee and Lessee's agents, employees and attorneys from and
against any and all law suits, actions, judgments, damages, costs expenses and
reasonable attorneys' fees incurred in the defense of any action or proceedings
arising out of or relating to a loss of life, personal injury, property damage
or any and all other demands, claims or actions of any nature arising out of or
related to Lessor's use and occupancy of Lessor's Property, excepting only
claims arising out of the negligent or intentional acts of Lessee and Lessee's
employees, agents or independent contractors. This indemnification and hold
harmless provision shall survive the termination of this Lease.
17. Environmental Compliance. Lessor warrants and represents
that, to the best of the Lessor's knowledge, during the period of time that
Lessor has owned the Lessor's Property, there has been no release on any
portion of Lessor's Property of contaminants, oils, asbestos, radon, PCB's,
hazardous substances or wastes as defined by federal, state or local
environmental laws, regulations or administrative orders or other materials the
removal of which is required or the maintenance of which is prohibited,
regulated or penalized by any federal, state or local government authority
("Hazardous Materials"). Lessee may have an environmental audit of the
Property performed and if the audit reveals that the Property is not free of
Hazardous Materials, Lessee shall not be obligated to take possession of the
Property under this Lease. This Lease shall be void of no further force or
effect if Hazardous Materials are discovered to exist on the Property after
Lessee takes possession of the Property, through no fault of Lessee, and Lessee
shall be entitled to a refund of all the consideration given Lessor under this
Lease.
18. Environmental Indemnities.
(a) Lessor, Lessor's heirs, grantees, successors, and
assigns shall indemnify, defend, reimburse and hold harmless Lessee from and
against any and all environmental damages arising from the presence of
Hazardous Materials upon, about or beneath the Property or migrating to or from
the Property or arising in any manner whatsoever out of the violation of any
environmental requirements pertaining to the Property and any activities
thereon, which conditions exist or existed prior to or at the time of the
execution of this Lease or which may occur at any time in the future by the
actions of Lessor.
(b) Lessee, Lessee's heirs, grantees, successors, and
assigns shall indemnify, defend, reimburse and hold harmless Lessor from and
against any and all environmental damages arising from the presence of
Hazardous Materials upon, about or beneath the Property or migrating to or from
the Property or arising in any manner whatsoever out of the violation of any
environmental requirements pertaining to the Property and any activities
thereon, which conditions arise subsequent to the execution of this Lease,
unless such conditions are caused by the actions of Lessor.
(c) Notwithstanding the obligation of Lessor to indemnify
Lessee pursuant to this agreement, Lessor shall, upon demand of Lessee, and at
Lessor's sole cost and expense, promptly take all actions to remediate the
Property which are required by any federal, state or local government agency or
political subdivision or which are reasonably necessary to mitigate
environmental damages or to allow full economic use of the Property, which
remediation is necessitated from the presence upon, about or beneath the
Property of a Hazardous Material. Such actions shall include but not be
limited to the investigation of the environmental condition of the Property,
the preparation of any feasibility studies, reports or remedial plans, and the
performance of any cleanup, remediation, containment, operation, maintenance,
monitoring or actions necessary to restore the Property to the condition
existing prior to the introduction of Hazardous Material upon, about or beneath
the Property notwithstanding any lesser standard of remediation allowable under
applicable law or governmental policies.
4
19. Right of First Refusal. During the Initial Term and any
Renewal Terms of this Lease, Lessor shall, prior to selling the Property or any
real property of which the Property is a part, notify Lessee in writing of the
sales price and terms offered by a third party, together with a copy of the
third party's offer. Lessee shall have the right of first refusal to purchase
the real property being sold by Lessor on the same terms and conditions.
Lessee shall give Lessor notice of its intention to purchase the same within 30
days of receipt of Lessor's notice. If Lessee gives no such notice of its
intention to purchase the real property, Lessor may sell the real property to
the third party on the stated terms and price, as long as such sale is made
subject to the terms of this Lease. Notwithstanding the foregoing, Lessee
shall not have such right of first refusal in those instances which Lessor is
an individual and Lessor proposes to convey the real property to another member
of Lessor's family; however, any such property (including the Property) shall
be conveyed by Lessor subject to this Lease.
20. Notices. All notices, requests, demands and other
communications hereunder shall be in writing and shall be deemed given if
personally delivered or mailed, certified mail, return receipt requested, to
the following addresses:
If to Lessor, to: B.E. Xxxxxxxxxxx
0000 Xxxxx Xxxx
Xxxxxxxx, XX 00000
If to Lessee, to: American Cable Company, Inc.
Xxxx Xxxxxx Xxx 0000
Xxxxxxxx, XX 00000
Attention: General Manager
with a copy to: CyberNet Holding, Inc.
0000 X.X. Xxxxxxx Xxxxx
Xxxx Xxxxxx Xxx 000
Xxxx Xxxxx, Xxxxxxx 00000
Attention: President
21. Title and Quiet Enjoyment. Lessor warrants that (i) Lessor
has the full right, power, and authority to execute this Lease; (ii) Lessor has
good and marketable title to the Property and the Easement free and clear of
any liens, encumbrances or mortgages; and (iii) the Property constitutes a
legal lot that may be leased without the need for any subdivision or platting
approval. Lessor further warrants that Lessee shall have the quiet enjoyment
of the Property during the term of this Lease.
22. Leasehold Financing. Lessee may, upon notice to Lessor,
mortgage or grant a security interest in this Lease and the Improvements, and
may assign this Lease and the Improvements to any such mortgagees or holders of
security interests including their successors and assigns (hereinafter
collectively referred to as "Mortgagees"). In such event, Lessor shall execute
such consent to leasehold financing, as may reasonably be required by
Mortgagees and a subordination to such Mortgagees with respect to the
Improvements. Lessor agrees to notify Lessee and Lessee's Mortgagees
simultaneously of any default by Lessee and to give Mortgagees the same right
to cure any default as Lessee except that the cure period for any Mortgagee
shall not be less than 10 days after the receipt of the default notice.
23. Successors and Assigns. This Lease shall run with the
Property and shall be binding upon the inure to the benefit of the parties,
their respective heirs, successors, personal representatives and assigns.
24. Waiver of Lessor's Lien. Lessor hereby waives any and all
lien rights it may have, statutory or otherwise, in and to the Improvements or
any portion thereof, regardless of whether or not the same is deemed real or
personal property under applicable laws.
25. Insurance. Tenant will obtain and maintain in full force and
affect during the term of this Lease a comprehensive general liability policy
with not less than the following minimum limits:
(a) Bodily injury in the amount of $500,000 on each
person; $1,000,000 each occurrence;
(b) Property damage in the amount of $100,000.
The above policy of insurance shall name Lessor as an "additional insured" and
a copy of said policy will be provided to Lessor, upon Lessor's request.
26. Miscellaneous.
(a) The substantially prevailing party in any litigation
arising hereunder shall be entitled to its reasonable attorney's fees and court
costs, including appeals, if any.
(b) Each party agrees to furnish the other, within 10
days after request, such truthful estoppel information as the other may
reasonably request.
(c) This Lease constitutes the entire agreement and
understanding of Lessor and Lessee, and supersedes all offers, negotiations and
other agreements. There are no representations or understandings of any kind
not set forth herein. Any amendments to said Lease must be in writing and
executed by Lessor and Lessee.
(d) If either Lessor or Lessee is represented by a real
estate broker in this transaction, that party shall be fully responsible for
any fees due such broker and shall hold the other party harmless from any
claims for commission by such broker.
(e) Lessor agrees to cooperate with Lessee in executing
any documents necessary to protect Lessee's rights under this Lease or Lessee's
use of the Property and to take any further action which Lessee may reasonably
require as to effect the intent of this Lease.
(f) This Lease shall be construed in accordance with the
laws of the state in which the Property is situated.
5
(g) If any term of this Lease is found to be void or
invalid, such invalidity shall not affect the remaining terms of this Lease,
which shall continue in full force and effect.
(h) Lessor and Lessee agree that either party's failure
to insist upon strict performance under this Lease, in any one or more
instances, upon any breach of any term, covenant or condition under this Lease
will not be deemed a waiver of such term, covenant or condition, nor any
subsequent breach of the same or any other term, covenant or condition.
IN WITNESS WHEREOF, Lessor and Lessee have executed this Lease under seal
as of the date first written above.
LESSOR:
/s/ B.E. Xxxxxxxxxxx (SEAL)
-----------------------------------------------------------
B.E. Xxxxxxxxxxx
Signed, sealed and delivered this 15th day of
April, 1996, in the presence of:
/s/ Xxxxxx X. Xxxxxxx
-------------------------------------------
Witness
/s/ Xxxxx X. Xxxxxx
-------------------------------------------
Notary Public, Muscogee County, Georgia
My Commission Expires:
---------------------
Xxxxx X. Xxxxxx
Notary Public
Muscogee County, GA
Official Seal
My Commission Expires 11/06/99
LESSEE:
AMERICAN CABLE COMPANY, INC.
By: /s/ Xxxxxxxx X. Xxxxxxxxx
--------------------------------------------------------
Title: CEO
-----------------------------------------
(CORPORATE SEAL)
Signed, sealed and delivered this 19th day of
April, 1996, in the presence of:
/s/ Xxxx X. Xxxxxxx
---------------------------------------------------
Witness
/s/ Xxxxxx X. Xxxxxxx
-------------------------------------------
Notary Public, Muscogee County,
Georgia
My Commission Expires:
---------------------
Notary Public, Xxxxx County, Georgia
My Commission Expires March 23, 1998
[SEAL]
6
EXHIBIT "A"
LEGAL DESCRIPTION OF
LESSOR'S PROPERTY
All that lot, tract or parcel of land situate, lying and being in Columbus,
Muscogee County, Georgia, and being Part of Land Lot 23 of the 8th District,
more particularly described as follows, to-wit:
FROM THAT POINT located at the intersection of the northern side of Xxxxx Road
with the eastern side of Effingham Way, which point is marked by an iron stake
and running thence North 01 degrees 42 minutes west along the eastern side of
Effingham Way a distance of 57.42 feet to an iron stake; thence continuing to
run along the eastern side of Effingham Way along a curve having a radius of
578.92 feet a distance of 118.59 feet to an iron stake; thence running North 88
degrees 18 minutes east a distance of 162.1 feet to an iron stake; thence
running South 01 degrees 42 minutes east a distance of 175 feet to an iron
stake located on the northern side of Xxxxx Road; thence running south 88
degrees 18 minutes west along the northern side of Xxxxx Road a distance of 150
feet to the point of beginning, which is located at the intersection of the
northern side of Xxxxx with the eastern side of Effingham Way.
The above property is shown as Lot One (1) in Parcel "B" on that map dated
November 1, 1969, and recorded November 18, 1969, by Xxxxxx Engineering
Company, in Plat Book 46, Folio 71, in the Office of the Clerk of the Superior
Court of Muscogee County, Georgia.
The above described property is conveyed subject to restrictive covenants and
easements of record applicable thereto; however, the Grantor warrants that the
property is presently zoned C-2.
*******
EXHIBIT "B"
LEGAL DESCRIPTION OF
THE PROPERTY
All that tract or parcel of land lying and being in Land Xxx 00, 0xx Xxxxxxxx,
Xxxxxxxx, Xxxxxxxx Xxxxxx, Xxxxxxx, and being more particularly described as
follows:
To reach the POINT OF BEGINNING of the property herein described, commence at
an iron stake located at the northeast corner of the intersection of Xxxxx Road
and Effingham Way, public roads located in said State and County; thence
running north 01 degrees 42' west a distance of 57.24 feet to an iron stake
located on the easterly margin of Effingham Way; running thence along a curve
to the left having a radius of 578.92 feet a distance of 118.70 feet to an iron
stake located on said easterly margin of Effingham Way; thence running south 61
degrees 25' 15" east a distance of 29.78 feet to an iron stake which marks the
POINT OF BEGINNING of the property herein described; thence running north 88
degrees 18' east a distance of 15 feet to an iron stake; running thence south 01
degrees 42' east a distance of 15 feet to an iron stake; running thence south 88
degrees 18' west a distance of 15 feet to an iron stake; running thence north 01
degrees 42' west a distance of 15 feet to the POINT OF BEGINNING of the property
herein described.
The property is also shown on map or plat of said property entitled Easement
Survey Xxx 0, Xxxxx "X," Xxxxxxxxx Xxxxxxxxxx Xxxx, lying in land Xxx 00, 0xx
Xxxxxxxx, Xxxxxxxx, Xxxxxxxx Xxxxxx, Xxxxxxx, dated February 16, 1996 and
prepared by Moon, Meeks, Xxxxx & Xxxxxx, Inc.
