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Document Preview Lease Agreement |
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Title: |
Lease Agreement |
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Entities: |
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Date: |
2003 |
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Size: |
Preview shows 33KB of 164KB total |
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Price: |
$61 |
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ID: |
#1653782 |
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Start of Preview |
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LEASE AGREEMENT
Between
JOINT DEVELOPMENT AUTHORITY OF BROOKS, COLQUITT,
GRADY, MITCHELL, AND THOMAS COUNTIES
(a public body corporate and politic)
as Lessor
and
FARMLAND NATIONAL BEEF COMPANY
(a limited partnership organized and existing
under the laws of the State of Delaware)
as Lessee
Dated as of January 16, 2001
THE PARTIES INTEND FOR THE RIGHTS AND INTEREST OF JOINT DEVELOPMENT AUTHORITY OF BROOKS, COLQUITT, GRADY, MITCHELL, AND THOMAS COUNTIES IN THE PROJECT LEASED HEREUNDER. THIS LEASE AGREEMENT AND CERTAIN REVENUES AND RECEIPTS DERIVED HEREUNDER, EXCEPT FOR CERTAIN UNASSIGNED RIGHTS, AS DEFINED HEREIN, TO BE RESPECTIVELY CONVEYED, ASSIGNED AND PLEDGED TO MOULTRIE-COLQUITT COUNTY DEVELOPMENT AUTHORITY AS SECURITY FOR AMOUNTS OF UP TO $2,700,000 PROVIDED TO THE JOINT DEVELOPMENT AUTHORITY OF BROOKS, COLQUITT, GRADY, MITCHELL, AND THOMAS COUNTIES BY MOULTRIE-COLQUITT COUNTY DEVELOPMENT AUTHORITY AS PROVIDED IN ONE OR MORE INSTRUMENTS ENTITLED ?DEED TO SECURE DEBT, ASSIGNMENT OF RENTS AND LEASES AND SECURITY AGREEMENT FROM THE JOINT DEVELOPMENT AUTHORITY OF BROOKS, COLQUITT, GRADY, MITCHELL, AND THOMAS COUNTIES, AS GRANTOR, TO MOULTRIE-COLQUITT COUNTY DEVELOPMENT AUTHORITY, AS GRANTEE, WHICH ARE TO BE ASSIGNED BY TO MOULTRIE-COLQUITT COUNTY DEVELOPMENT AUTHORITY AMERICAN BANKING COMPANY, AS ASSIGNEE TO SECURE ITS INDEBTEDNESS TO AMERICAN BANKING COMPANY.
TABLE OF CONTENTS
(This-Table of Contents is not a part of the Lease
Agreement and is only for convenience of reference.)
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ARTICLE I |
DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION |
4 | ||
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Section 1.1. |
Definitions | 4 | ||
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Section 1.2. |
Construction Of Certain | 11 | ||
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Section 1.3. |
Table of Contents; Titles and Headings | 12 | ||
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ARTICLE II |
REPRESENTATIONS AND UNDERTAKINGS |
13 | ||
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Section 2.1. |
Representations by the Authority | 13 | ||
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Section 2.2. |
Representations by the Company | 14 | ||
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ARTICLE III |
LEASING CLAUSE; SECURITY; TITLE |
17 | ||
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Section 3.1. |
Lease of the Project | 17 | ||
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Section 3.2. |
Security for Payments Under the Bond | 17 | ||
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Section 3.3. |
Warranties and Covenants of Authority as to Title | 17 | ||
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Section 3.4. |
Warranties and Covenants of Company as to Title | 17 | ||
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ARTICLE IV |
CONSTRUCTION OF THE LEASED IMPROVEMENTS; ISSUANCE OF THE BONDS; FUNDS |
19 | ||
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Section 4.1. |
Agreement to Construct the Project | 19 | ||
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Section 4.2. |
Funding of Qualified Project Costs | 19 | ||
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Section 4.3. |
Use of Amounts in the Construction Fund | 19 | ||
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Section 4.4. |
Disbursements from the Construction Fund. | 19 | ||
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Section 4.5. |
Obligation of the Parties to Cooperate in Furnishing Documents; Reliance of the Custodian | 23 | ||
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Section 4.6. |
Establishment of Completion Date | 23 | ||
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Section 4.7. |
Company Required to Pay the Company's Project Costs | 24 | ||
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Section 4.8. |
Authorized Company and Authority Representatives and Successors | 24 | ||
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Section 4.9. |
Enforcement of Remedies Against Contractors, Subcontractors, Suppliers, Fabricators and Their Sureties | 24 | ||
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ARTICLE V |
EFFECTIVE DATE OF THIS LEASE; DURATION OF LEASE TERM; RENTAL PROVISIONS; NATURE OF OBLIGATIONS OF COMPANY |
25 | ||
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Section 5.1. |
Effective Date of this Lease: Duration of Lease Term | 25 | ||
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Section 5.2. |
Delivery and Acceptance of Possession; Quiet Enjoyment | 25 | ||
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Section 5.3. |
Rents and Other Amounts Payable. | 25 | ||
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Section 5.4. |
Place of Rental Payments | 26 | ||
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Section 5.5. |
Nature of Obligations of Company Hereunder. | 26 | ||
i
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ARTICLE VI |
MAINTENANCE, TAXES, INSURANCE AND EMINENT DOMAIN |
28 | ||
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Section 6.1. |
Maintenance of Project | 28 | ||
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Section 6.2. |
Removal of Building Fixtures | 28 | ||
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Section 6.3. |
Taxes, Other Governmental Charges, and Utility Charges | 29 | ||
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Section 6.4. |
Insurance Required. | 30 | ||
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Section 6.5. |
Application of Net Proceeds of Insurance | 31 | ||
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Section 6.6. |
Advances by the Authority or the Holder | 31 | ||
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Section 6.7. |
Eminent Domain | 32 | ||
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ARTICLE VII |
DAMAGE, DESTRUCTION, AND CONDEMNATION |
33 | ||
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Section 7.1. |
Repair, Restoration or Replacement | 33 | ||
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ARTICLE VIII |
ADDITIONAL COVENANTS; ADDITIONAL BONDS |
34 | ||
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Section 8.1. |
No Warranty of Condition or Suitability by the Authority | 34 | ||
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Section 8.2. |
Access to Project and Records | 34 | ||
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Section 8.3. |
Company to Maintain its Existence and Qualification; Conditions Under Which Exceptions Permitted | 34 | ||
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Section 8.4. |
Operation of the Project | 34 | ||
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Section 8.5. |
Indemnity. | 35 | ||
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Section 8.6. |
Licenses and Permits | 36 | ||
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Section 8.7. |
Compliance with Laws | 36 | ||
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Section 8.8. |
Granting of Easements | 37 | ||
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ARTICLE IX |
ASSIGNMENT, SUBLEASING, ENCUMBERING, AND SELLING; REDEMPTION; RENT PREPAYMENTS AND ABATEMENT; INSTALLATION OF COMPANY'S OWN MACHINERY AND EQUIPMENT |
38 | ||
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Section 9.1. |
Assignment and Subleasing | 38 | ||
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Section 9.2. |
Restrictions on Sale, Encumbrance, or Conveyance of the Project by the Authority | 39 | ||
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Section 9.3. |
Restrictions on Encumbrance by the Company | 39 | ||
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Section 9.4. |
Redemption of Bond | |||
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