Laserfiche WebLink
BEGINNING a[ apoint in the ccn[e.r- 1inO Of a <br />drainage ditch, said clitc}i boirlO.; locatt:d bLtwee.n <br />I-Iickory Street and Clement Ro.ld, L:iiicl rhe beginning <br />poiilt being Wesr 260 fcaet frotYi th~. ti,outllwest Corner <br />of the iri[ersec`ion of Fitzhugh A%r(,i1tje <1rGd Clernent <br />Road (the Nort41enst C;or•ne-r of i31ock 256) and alsc) <br />bLing S 2° 0() E along t[ic certtcrlirle of a dr.iiilage <br />ditch, 460 Feet to saidpoint of boginnin~- . <br />THENCZ? North 88 ° 30' tiVe.-,t 281 f~ ~et to a poi.nt; <br />'ITIENCY? South 1° 30` West 84 tt-.et t-o L} poiric; <br />TI-ILNCF Norrh 88" 3()' `tiest 477 ft:~ct to tr pc>i►lt, <br />same being in tt1e East Margzn of 6[h Srreet, N. E. <br />; <br />THENCE in a Southerly direction with the East <br />Margzn of 6th St. , N. E. 16 feer to apoiiir; <br />THLNCE SoLith 88° 30` Eas[ 477 fee.t ro a 1>oint; <br />TIIENCI3 South 1° 30' Fast 200 feet to a point; <br />"I'HENCE Soutl1 88° 30' E.zst 297 fect to apoirit in <br />the center line of ad.raii7age dirch; <br />THENCF' North 2° 00' West with the centex- line of <br />the dx-ainage dztch 300 feet Iriore oi- 1ess. to rhe place <br />of beginnzng, containing 2, 19 acr.es of land tr:ore or <br />less. <br />'llZe term of this lease is te,l (l.U) years, heginnir.~; on tlie <br />lst day of lanuary, 1981 and rnd'zng rhe 3 1st daY oE Derember, 1990. <br />IN C;C~~,i`~Ii_'Ft~~7'ION r~l the 1:~~~~sin~; and lettin~; of said prernzses <br />and the use and vccupancy rhercof hy I_.esset., Lcssee ar r~,es to effect <br />ancl purform repairs to ea:istitig buildin,,s;, structures <~nd other irn- <br />gx•overrierits a11d to rn~~;e addivicnal imprc>vemeiits on the lcased pre- <br />rnises to the extent of ten pez- cerlt (1Qj~) o` i,,s arinual gross re- <br />ceipts, L,essee hereby acrreeing tc) ex},end for suctz ptrrposes thc sum <br />herein set otit dt.iring cacll yeat- of this a~;-reeclieiit, tfie Cotal a11`10unt <br />to be expended by Lessee fc;r_ sLicfX purpc>ses durrir7b tlle term of this <br />lease to be nor less r.han ren pozµ cerit (f.0;`) of its total gross re- <br />ceipts for the ten year pez-zacl covet-ccl by t!ais ag7-eement; providcd <br />however, that in the event I_,essee exp.-:ne?s in excc:ss of ten per cent <br />of its gy-oss receipts cluriii; ,~ny one year heree>f for such purposos, <br />sueli exeess tYlay be credited on the rotA nrnoiint ro be- cxpencleci by <br />Lessee Ilereunder. 71ie t-erni receipts" shal1 ►1icail tfi(_; towl <br />receipts of L,esseo fronl a11 scauT-ce's hy rc~lson of [}le w;c oi, tlze <br />rented premises. <br />