EXHIBIT 10.49
FIRST AMENDMENT
TO
REAL PROPERTY LEASE AND EASEMENT AGREEMENT
WHEREAS, THE XXXX COMPANY ("LESSOR"
hereinafter), a Georgia corporation, and PANDA-
XXXXXXXX CORPORATION ( "LESSEE" hereinafter), a
Delaware corporation, entered a Real Property Lease
and Easement Agreement (the "LEASE" hereinafter)
effective on June 9, 1989, wherein LESSOR agreed to
demise and lease to LESSEE and LESSEE agreed to
lease from LESSOR that certain real property (the
"PREMISES" hereinafter) located in the City of
Roanoke Rapids, County of Halifax, State of North
Carolina, the same being more particularly described
in Exhibit "A" hereto; and
WHEREAS, the LEASE is recorded in Book 1452,
Page 205 in the Register of Deeds in Halifax County,
North Carolina; and
WHEREAS, LESSOR and LESSEE desire to amend
the LEASE.
NOW THEREFORE in consideration of the
foregoing and of the premises hereinafter contained,
LESSOR and LESSEE agree as follows:
1. The following new Section 5.02 is added to the
LEASE:
5.02 If, during the term of this Lease and
Easement, all or part of the Premises is
so taken under any governmental law,
ordinance, or regulation, or by right of
eminent domain, or if all or part of the
Premises are sold to the condemning
authority under threat of condemnation,
LESSOR and LESSEE shall each have the
right to recover compensation from the
condemning authority for loss or damages
to their respective interests. Any portion
of such compensation attributable to the
value of improvements on the Premises or
to the value of the remaining portion of
the Lease term shall be and become the
property of LESSEE. Any portion of such
compensation attributable to the value of
the real property underlying such
improvements shall be and become the
property of LESSOR. Each of the parties
hereto will execute any assignment to the
other which may be necessary to effect the
intent of this provision.
2. The reference to "twenty (20) days" on the second
line of Section 9.07 on page 12 of the Lease is changed
to "sixty (60) days".
3. The following new Section 9. lO is added to the
Lease:
9.10 LESSOR represents that the Premises is
or will be identifed by a separate Halifax County,
North Carolina tax parcel identification number
and that it will remain a separately assessed
parcel for ad valorem tax purposes.
4. All other terns, conditions and provisions of the
Lease which are not expressly deleted or changed herein
shall remain in full force and effect.
EXECUTED effective the first day of October, 1989.
[CORPORATE SEAL] THE XXXX COMPANY
Title:
By:
Title: President
[CORPORATE SEAL] PANDA-XXXXXXXX CORPORATION
Xxxxxx Xxxxxx
Title: Secretary Treasurer By: Xxxxxx X. Xxxxxx
Title: President
STATE OF TEXAS )
COUNTY OF DALLAS )
This___ day of _____________ , 1989, personally came
before me,_____________ a notary public, for the State
of Texas who, being by me duly sworn, says that he
knows the Common Seal of Panda-Xxxxxxxx Corporation and
is acquainted with_______________ who is the President
of said Corporation, and that he, the said
______________ is the ____________ Secretary of the
said Corporation and saw the said President sign the
foregoing instrument, and saw the Common Seal of said
Corporation affixed to said instrument by said
President, and that he, the said Secretary signed his
name in attestation of the execution of said instrument
in the presence of said President of said corporation.
STATE OF NEW YORK )
: ss:
COUNTY OF NEW YORK )
I Xxxxxxx Xxxxxxx, Notary Public for said County and
State, certify that Xxxxxx Xxxxxx personally came before me
this day and acknowledged that she is the Secretary of
PANDAROSEMARY CORPORATION, a corporation, and that by
authority duly given and as the act of the corporation,
the foregoing instrument was signed in its name by its
President, sealed with its corporate seal, and
attested by her as its Secretary.
Witness my hand and official seal this 24th day of
October, 1989.
Xxxxxxx Xxxxxxx
(Official Seal) Notary Public
My commission expires:
April 7, 1990
Witness my hand and notarial seal or stamp this the ___day
of ____________, 1989.
(Notarial Seal or Stamp)
My Commission Expires:
Notary Public
STATE OF GEORGIA )
COUNTY OF XXXX )
This 24th day of October, 1989, personally
came before me, Xxx X. Xxxxx a notary public, Xxxxxx
X. Xxxx who, being by me duly sworn, says that he knows
the Common Seal of The Xxxx Company and is acquainted
with Xxxx X. Xxxxx who is the President of said
Corporation, and that he, the said Xxxxxx x. Xxxx is
the Secretary of the said Corporation, and saw the said
President sign the foregoing instrument, and saw the
Common Seal of said Corporation affixed to said
instrument by said President, and that he, the said
Xxxxxx X. Xxxx signed his name in attestation of the
execution of said instrument in the presence of said
President of said corporation.
Witness my hand and notarial seal or stamp this
the 24th day of October, 1989.
(Notarial Seal or Stamp)
Xxx X. Xxxxx
My Commission Expires: Notary Public
March 3, 1992
