{"id":41681,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/32-2-acres-anniston-al-lease-agreement-calhoun-county.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"32-2-acres-anniston-al-lease-agreement-calhoun-county","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/land\/32-2-acres-anniston-al-lease-agreement-calhoun-county.html","title":{"rendered":"32.2 Acres (Anniston, AL) Lease Agreement &#8211; Calhoun County Economic Development Council and United Defense LP"},"content":{"rendered":"<pre>STATE OF ALABAMA\nCALHOUN COUNTY\n\n                                   LEASE AGREEMENT\n\n     This lease agreement is made and entered into on November 18, 1994, by and\nbetween CALHOUN COUNTY ECONOMIC DEVELOPMENT COUNCIL, a public corporation,\n('Lessor'), and UNITED DEFENSE LP, a Delaware partnership, ('Lessee').\n\n                 ARTICLE 1. DEMISE, DESCRIPTION, USE, TERM, AND RENT\n\n     Lessor hereby leases to Lessee, and Lessee hereby leases from Lessor, that\ncertain property, hereinafter called the 'leased premises', situated in the City\nof Anniston, Calhoun County, Alabama, and described as follows:\n\n                          SEE ATTACHED PROPERTY DESCRIPTION\n\ncommencing on June 1, 1994, and ending on May 31, 1998 for the rent payable as\nspecified in Article 2.\n\n                                   ARTICLE 2. RENT\n\n                                     MINIMUM RENT\n\n     2.01.     Lessee shall pay Lessor at P.O. Box 2283, Anniston, AL 36202, or\nat such other place as the Lessor shall designate from time to time in writing,\nas rent for the leased premises, as follows:\n\n     (a)       Twenty Thousand Eight Hundred Thirty-three and 33\/100\n($20,883.33) per month, payable on the first day of each month during the term\nof this Lease.\n\n                     EFFECT OF DEFAULT IN RENT AND OTHER PAYMENTS\n\n     2.02.     If Lessee defaults in the payment of any installment of rent\nhereunder, such installment shall bear interest at the rate of 12 percent per\nannum from the day it is due until actually paid.  In like manner, all other\nobligations, benefits, and moneys which may become due to Lessor from Lessee\nunder the terms hereof, or which are paid by Lessor because of Lessee's default\nhereunder, shall bear interest at the rate of 12 percent per annum from the due\ndate until paid, or, in the case of sums paid by Lessor, because of Lessee's\ndefault hereunder, from the date such payments are made by Lessor until the date\nLessor is reimbursed by Lessee therefor.\n\n                           ARTICLE 3. TAXES AND ASSESSMENTS\n\n                  ADDITIONAL RENT - PAYMENTS IN LIEU OF SCHOOL TAXES\n\n     3.01.     (a) Lessor and Lessee acknowledge that, under present law, the\nleased premises, so long as it is owned by the Lessor is exempt from ad valorem\ntaxation by the State of Alabama\n\n\n\nor any other political or taxing subdivision thereof, including Calhoun County.\nNonetheless, the Lessee hereby agrees to make annual additional rent payments to\nthe Anniston City School System and the Calhoun County School System in amounts\nequal to the respective ad valorem school systems.  Such annual payments shall\nbe due on December 31, 1994 and on each December 31 thereafter so long as the\nLease remains in effect.  The amount of each such annual payment shall be\ndetermined by the Tax Assessor of Calhoun County, Alabama.  Lessor shall provide\nthe Lessee with written notice of the amount of each such annual payment at\nleast thirty (30) days prior to the due date thereof.\n\nLessor acknowledges that the obligation of the Lessee to make the payment of\nadditional rent provided for in this section is conditioned upon the Leased\npremises remaining exempt from ad valorem taxation throughout the period of time\nto which such payment is referable.  If, as a result of a change in law prior to\nthe termination of this Lease Agreement, the Leased premises become subject to\nad valorem taxes, the Lessee shall pay such taxes as additional rent.\n\n                                 HOLD HARMLESS CLAUSE\n\n     3.02.     Lessee agrees to and shall protect and hold harmless Lessor and\nthe leased premises for liability for any and all personal property taxes,\npersonal property assessments, and personal property charges, together with any\ninterest, penalties, or other sums thereby imposed, and from any sale or other\nproceeding to enforce payment thereof.  This section is for the benefit of the\nparties hereto and is not given to protect third parties.\n\n                      SEPARATE ASSESSMENTS OF PERSONAL PROPERTY\n\n     3.03.     During the term hereof, Lessee shall cause all taxes,\nassessments, and other charges levied on or imposed on any of its personal\nproperty situated in, on or about the leased premises to be levied on Lessee.\n\n                                    TAXES EXCLUDED\n\n     3.04.     Nothing herein contained requires, or shall be construed to\nrequire, Lessee (or any of its subtenants) to pay any property, gift, estate,\ninheritance, or other tax assessed against Lessor or its heirs or successors and\nassigns, or any income or other tax, assessment, charge, or levy on the rent\npayable by Lessor under this lease.\n\n                           ARTICLE 4. INSURANCE\n\n     4.01.     Lessee agrees to and shall, within seven (7) days from the date\nhereof, secure from a good and responsible company or companies doing insurance\nbusiness in the State of Alabama and maintain during the entire term of this\nlease, the following insurance coverage:\n\n     (1)       Public liability insurance in the minimum amount of One Million\nand 00\/100 Dollars ($1,000,000.00) for loss from an accident resulting in bodily\ninjury to or death of persons, and One Million and 00\/100 Dollars\n($1,000,000.00) for loss from an accident resulting\n\n\n                                          2\n\n\n\nin damage to or destruction of property; and umbrella insurance coverage in the\namount of an additional One Million and 00\/100 Dollars ($1,000,000.00).\n\n     (2)       Fire and extended coverage insurance on Lessee's fixtures, goods,\nwares, and merchandise in or on the leased premises, with coverage in an amount\nof not less than its full replacement value.\n\n     4.02.     Lessor agrees to and shall, within seven (7) days from the date\nhereof, secure from a good and responsible company or companies doing insurance\nbusiness in the State of Alabama and maintain during the entire term of this\nlease, the following insurance coverage:\n\n     (1)       Fire and extended coverage insurance in an amount of not less\nthan 100% of the value of the leased premises and other improvements on the\nleased premises, provided that insurance in that percentage can be obtained,\nand, if not, then to the highest percentage that can be obtained less than the\nsaid 100%, but in no event will said coverage be less than One Million Five\nHundred Thousand and 00\/100 Dollars ($1,500,000.00).\n\n     (2)       In the event that Lessor shall cause any work on the leased\npremises to be done pursuant to the provisions of this Article 4, before said\nwork shall commence, it shall secure public liability insurance in the minimum\namount of One Million and 00\/100 Dollars ($1,000,000.00) for loss from an\naccident resulting in bodily injury to or death of persons, and One Million and\n00\/100 Dollars ($1,000,000.00) for loss from an accident resulting in damage to\nor destruction of property; and umbrella insurance coverage to aggregate at\nleast an additional One Million and 00\/100 Dollars ($1,000,000.00).\n\n                                 ADDITIONAL INSUREDS\n\n     4.03.     Lessor and Lessee agree that the other shall be named as an\nadditional insured on the aforementioned policies of insurance with respect to\nthis lease only.\n\n                                  PROOF OF COVERAGE\n\n     4.04.     Lessee and Lessor shall supply to each other appropriate\ncertificates of insurance evidencing such insurance which shall be delivered to\nLessor and Lessee.\n\n                           PROTECTION AGAINST CANCELLATION\n\n     4.05.     Proof must also be given by Lessor and Lessee, pursuant to\nParagraph 4.04, that each of the policies provided for in this article expressly\nprovides that the policy shall not be canceled or altered without 10 days' prior\nwritten notice to the Lessor and Lessee.\n\n                                  FAILURE TO SECURE\n\n     4.06.     If either party at any time during the term hereof should fail to\nsecure or maintain the foregoing insurance, the other party shall be permitted\nto obtain such insurance in the defaulting party's name or as the agent of the\ndefaulting party and shall be compensated by the\n\n\n                                          3\n\n\n\ndefaulting party for the cost of the insurance premiums.  The defaulting party\nshall pay the other party interest on paid insurance premiums at the rate of 12\npercent per annum computed from the date written notice is received that the\npremiums have been paid.\n\n                                       PROCEEDS\n\n     4.07.     Proceeds from any such policy or policies on the leased premises\nshall be payable to Lessor, who shall use such proceeds to make repairs as\nprovided below.\n\n                               FIRE AND CASUALTY DAMAGE\n\n     4.08.     If the building or other improvements on the leased premises\nshould be damaged or destroyed by fire, flood, or other casualty, Lessee shall\ngive immediate written notice thereof to Lessor.\n\n                                     DESTRUCTION\n\n     (1)       If the building on the leased premises should be totally\ndestroyed by fire, flood, tornado or other casualty or if it should be so\ndamaged that rebuilding or repairs cannot reasonably be completed within one\nhundred (100) working days from the date of written notification by Lessee to\nLessor of the occurrence of the damage, this lease shall terminate and rent\nshall be abated for the unexpired portion of this lease, effective as of the\ndate of said written notification.\n\n                                    PARTIAL DAMAGE\n\n     (2)       If the building or other improvements on the lease premises\nshould be damaged by fire, flood, or other casualty, but not to such an extent\nthat rebuilding or repairs cannot reasonably be completed within one hundred\n(100) working days from the date of written notification by Lessee to Lessor of\nthe occurrence of the damage, this lease shall not terminate, but Lessor shall,\nif the casualty has occurred prior to the final six (6) months of the lease term\nat their sole cost and risk proceed forthwith to rebuild or repair such building\nand other improvements to substantially the same condition in which they existed\nprior to such damage.  If the casualty occurs during the final six (6) months of\nthe lease term, Lessor shall not be required to rebuild or repair such damage.\nIf the building and other improvements are to be rebuilt or repaired and are\nuntenantable in whole or in part following such damage, the rent payable\nhereunder during the period in which they are untenantable shall be adjusted\nequitably.  In the event that Lessor should fail to complete such rebuilding or\nrepairs within one hundred (100) working days from the date of written\nnotification by Lessee to Lessor of the occurrence of the damage, Lessee may at\nits option terminate this lease by written notification at such time to Lessor,\nwhereon all rights and obligations hereunder shall cease.\n\n                                 ARTICLE 5. UTILITIES\n\n     5.01.     Lessee shall during the term hereof pay all charges for\ntelephone, gas electricity, sewage, and water used in or on the leased premises\nand for the removal of rubbish therefrom\n\n\n                                          4\n\n\n\nimmediately on becoming due and shall hold Lessor harmless from any liability\ntherefor.  Lessee further agrees to pay all charges for repairs to water meters\non the leased premises whether necessitated by ordinary wear and tear,\ntemperature extremes, accident, or any other causes.  Such payments shall be\nmade immediately on become due.\n\n                            ARTICLE 6. WASTE AND NUISANCE\n\n     6.01.     Lessee shall not commit, or suffer to be committed, any waste on\nthe leased premises, nor shall he maintain, commit, or permit the maintenance or\ncommission of any nuisance on the leased premises or use the leased premises for\nany unlawful purpose.\n\n                         ARTICLE 7. REPAIRS AND MODIFICATIONS\n\n                         LESSEE'S DUTY TO REPAIR AND MAINTAIN\n\n     7.01.     Lessee agrees to keep the leased premises in good order and\nrepair, reasonable wear and tear (and damage by accident, fire, or other\ncasualty not resulting from Lessee's negligence) excepted.  Lessee further\nagrees to keep the leased premises clean, and to repair or replace all broken or\ndamaged doors, windows, plumbing fixtures and pipes, floors, stairways,\nrailings, or other portions of the leased premises.  Lessee also agrees to\nmaintain the facilities appurtenant to the leased premises, including entryways\nand awnings.  Lessee shall keep the said pavements and appurtenances free of ice\nand snow and trash and expressly agrees to assume sole liability for accidents\nalleged to have been caused by their defective condition.  Lessee will not burn\nany trash of any kind in or about the building, nor keep or display any\nmerchandise or otherwise obstruct he sidewalks or areaways adjacent to the\npremises without the written consent of Lessor.  Lessee shall not use or permit\nthe use of any portion of said premises as sleeping apartments or lodging rooms.\nLessors shall maintain all pavement and curbing appurtenant to the leased\npremises.  Lessee agrees to do all maintenance and make all repairs required by\nthis paragraph in a good and workmanlike manner.\n\n                  ARTICLE 8. ALTERATIONS, IMPROVEMENTS, AND FIXTURES\n\n     8.01.     Lessee shall have the right to improve, add to, or alter the\nleased premises and to install fixtures thereon with the written consent of\nLessor; provided, however, that he shall not remove any such improvements,\nadditions, alterations, or fixtures without the prior written consent of Lessor,\nand provided further, that on expiration or sooner termination of this lease,\nall improvements, including fixtures and any addition, alterations, or repair to\nthe premises placed on or made to the premises by Lessee during the term hereof,\nshall revert to and become the absolute property of Lessor, free and clear of\nany and all claims against them by Lessee or any third person, and Lessee hereby\nagrees to hold Lessor harmless from any claims that may be made against such\nimprovements by any third persons.  Lessor shall not unreasonably withhold his\nconsent for Lessee to make nonstructural alterations, additions, and\nimprovements.  PROVIDED, HOWEVER, that Lessee shall be permitted to remove trade\nfixtures from the leased premises at any time during the term hereof or within\nten (10) days after the expiration or sooner termination of this lease and not\notherwise if such removal of trade fixtures can be\n\n\n                                          5\n\n\n\neffected without injury to the leased premises and if any such trade fixture\nshall not have become, by the manner in which it is affixed, an integral part of\nthe leased premises.\n\n     8.02.     Lessee shall have the right to erect signs on any portion of the\nleased premises, including, but not limited to, the exterior walls of the\nbuilding, subject to applicable laws and deed restrictions.  Lessee shall remove\nall signs at the termination of this lease, and shall repair any damage and\nclose any holes caused by such removal.\n\n                             ARTICLE 9. QUIET POSSESSION\n\n                             COVENANT OF QUIET POSSESSION\n\n     9.01.     Lessor shall, on the commencement date of the term of this Lease\nas hereinabove set forth, place Lessee in quiet possession of the leased\npremises and shall secure him in the quiet possession thereof against all\npersons lawfully claiming the same during the entire lease term and each\nextension thereof.\n\n                           COVENANT REGARDING ENCUMBRANCES\n\n     9.02.     (1) Lessor covenants that the leased premises are not subject to\nany lien, claim, or encumbrance, except as hereinafter set forth, and that it is\nnot in default or arrears in the making of any payment or the performance of any\nobligation relating to the leased premises.\n\n     (2)       The leased premises are subject to the following:\n\n     (a)       Mortgage to South Trust Bank of Calhoun County, N.A. dated\n               January 6th, 1994 in the amount of $1,500,000.00, and recorded in\n               Book 1905, Page 83, in the Office of the Probate Judge of Calhoun\n               County, Alabama.\n\n                         ARTICLE 10. TERMINATION OR EXTENSION\n\n                                   OPTION TO EXTEND\n\n     10.01.    Lessee is hereby granted and shall, if not at the time in default\nunder this lease, have an option to extend the term of this Lease in five\nsuccessive periods of one year each, but otherwise on the same terms,\ncovenants, and conditions herein contained.\n\n                               RENT FOR ADDITIONAL TERM\n\n     10.02.    The rent for each additional term, which Lessee agrees to pay on\nthe same basis and in the same periodic installments as the original rent, shall\nbe the greater of:\n\n     (a)       the amount of rent which was payable for the next preceding\n               rental term, whether original or renewal; or\n\n\n                                          6\n\n\n\n     (b)       the rent due in the preceding subparagraph (a) multiplied by the\n               Comparative Index and divided by the Base Index.\n\nNOTE: for purposes of the above calculation, the term 'Consumer Price Index\nshall mean the Consumer Price Index for all Urban Customers, All Cities, as\ndetermined by the United States Department of Labor, Bureau of Labor (1967\nequals 100).  The term 'Comparative Index' shall mean the Consumer Price Index\npublished for the month of January next preceding the month when LESSEE\nexercises its option to renew.  The term 'Base Index' shall mean the Consumer\nPrice Index in effect for the month of January of the year in which the previous\nterm began.\n\n                                    HOW EXERCISED\n\n     10.03.    This option shall be exercised only by Lessee's delivering to\nLessor in person or by United States certified mail on or before December 1st,\n1997, written notice of its election to extend the term of this lease for the\nfirst one-year extension as herein provided; on or before December 1st, 1998,\nwritten notice of its election to further extend the term of this lease for the\nsecond one-year extension as herein provided; on or before December 1st, 1999,\nwritten notice of its election to further extend the term of this lease for the\nthird one-year extension as herein provided; on or before December 1st 2001,\nwritten notice of its election to further extend the term of this lease for the\nfourth one-year extension as herein provided.\n\n                                EFFECT OF HOLDING OVER\n\n     10.04.    In the event Lessee does not extend the term of this Lease as\nherein provided, and holds over beyond the expiration of the term hereof, such\nholding over shall be deemed a month-to-month tenancy only, at the rental of\nThirty Thousand and 00\/100 Dollars ($30,000.00) per month, payable on the 1st\nday of each and every month thereafter until the tenancy is terminated in a\nmanner provided by law.\n\n                          ARTICLE 11. SURRENDER OF PREMISES\n\n     11.01.    Lessee shall, without demand therefor and at his own cost and\nexpense within fifteen (15) days after expiration or sooner termination of the\nterm hereof or of any extended term hereof remove all property belonging to him\nand all alterations, additions, or improvements, and fixtures which by the terms\nhereof he is permitted to remove; repair all damage to the leased premises\ncaused by such removal; and restore the eased premises to the condition they\nwere in prior to the installation of the property so removed.  Any property not\nso removed shall be deemed to have been abandoned by Lessee and may be retained\nor disposed of by Lessor.\n\n                                      SURRENDER\n\n     11.02.    Lessee agrees to and shall, on expiration or sooner termination\nof the term hereof promptly surrender and deliver the leased premises to Lessor\nwithout demand therefor in good condition, ordinary wear and tear and damage by\nthe elements, fire, or act of God, or by other cause beyond the reasonable\ncontrol of Lessee excepted.\n\n\n                                          7\n\n\n\n                               ARTICLE 12. CONDEMNATION\n\n                                   ALL OF PREMISES\n\n     12.01.    If during the term of this lease or any extension or renewal\nthereof, all of the leased premises should be taken for any public or\nquasi-public use under any law, ordinance, or regulation or by right of eminent\ndomain, or should be sold to the condemning authority under threat of\ncondemnation, this lease shall terminate and the rent shall be abated during the\nunexpired portion  of this lease, effective as of the date of the taking of said\npremises by the condemning authority.\n\n                                       PARTIAL\n\n     12.02.    If less than all of the leased premises shall be taken for any\npublic or quasi-public use under any law ordinance, or regulation, or by right\nof eminent domain, or should be sold to the condemning authority under threat of\ncondemnation, this lease shall not terminate but Lessor shall forthwith at their\nsole expense, restore and reconstruct the building and other improvements,\nsituated on the leased premises, provided such restoration and reconstruction\nshall make the same reasonably tenantable and suitable for the uses for which\nthe premises are leased.  The rent payable hereunder during the unexpired\nportion of this lease shall be adjusted equitably.\n\n                                 ALLOCATION OF AWARDS\n\n     12.03.    Lessor and Lessee shall each be entitled to receive and retain\nsuch separate awards and portions of lump-sum awards as may be allocated to\ntheir respective interests in any condemnation proceedings.  The termination of\nthis lease shall not affect the rights of the respective parties to such awards.\n\n                          ARTICLE 13. DEFAULTS AND REMEDIES\n\n     13.01.    If Lessee shall allow the rent to be in arrears more than ten\n(10) days after written notice of such delinquency, or shall remain in default\nunder any other condition of this lease for a period of ten (10) days after\nwritten notice from Lessor, or should any other person than Lessee secure\npossession of the premises, or any part thereof, by reasons of any receivership,\nbankruptcy proceedings, or other operation of law in any manner whatsoever,\nLessor may at its option, without notice to Lessee, terminate this Lease and\ndeclare all rental payments to be made pursuant to this Lease immediately due\nand payable, or, in the alternative, Lessor may re-enter and take possession of\nsaid premises and remove all persons and property therefrom, without being\ndeemed guilty of any manner of trespass, and relet the premises or any part\nthereof, for all or any part of the remainder of said term, to a party\nsatisfactory to Lessor, and at such monthly rental as Lessor may with reasonable\ndiligence be able to secure.  Should Lessor be unable to relet after reasonable\nefforts to do so, or should such monthly rental be less than the rental Lessee\nwas obligated to pay under this lease, or any renewal thereof, plus the expense\nof reletting, then Lessee shall pay the amount of such deficiency to Lessor.\n\n\n\n                                          8\n\n\n\n     It is expressly agreed that in the event of default by Lessee hereunder,\nLessor shall have a lien upon all goods, chattels, or personal property of any\ndescription belonging to Lessee which are placed in, or become a part of, the\nleased premises, as security for rent due and to become due for the remainder of\nthe current lease term, which lien shall not be in lieu of or in any way affect\nany statutory Lessor's liens given by law, but shall be cumulative thereto; and\nLessee hereby grants to Lessor a security interest in all such personal property\nplaced in said leased premises for such purposes.  This shall not prevent the\nsale by Lessee of any merchandise in the ordinary course of business free of\nsuch lien to Lessor.  In the event Lessor exercise the option to terminate the\nleasehold, and to re-enter and relet the premises as provided in the preceding\nparagraph, then Lessor may take possession of all of Lessee's property on the\npremises and sell the same at public or private sale after giving Lessee\nreasonable notice of the time and place of any public sale or of the time after\nwhich any private sale is to be made, for cash or on credit, or for such prices\nand terms as Lessor deem best, with or without having the property present at\nsuch sale.  The proceeds of such sale shall be applied first to the necessary\nand proper expense of removing, storing and selling such property, then to the\npayment of any rent due or to become due under this lease, with the balance, if\nany, to be paid to Lessee.\n\n     All rights and remedies of Lessor under this lease shall be cumulative, and\nnone shall exclude any other right or remedy at law.  Such rights and remedies\nmay be exercised and enforced concurrently and whenever and as often as occasion\ntherefor arises.\n\n                                  DEFAULT BY LESSOR\n\n     13.02.    If Lessor default in the performance of any term, covenant, or\ncondition required to be performed by them under this agreement, Lessee may\nelect either one of the following:\n\n     (1)       After not less than ten (10) days' notice to Lessor, Lessee may\nremedy such default by any necessary action, and in connection with such remedy\nmay pay expenses and employ counsel; all reasonable sums expended or obligations\nincurred by Lessee in connection therewith shall be paid by Lessor to Lessee on\ndemand, and on failure of such reimbursement, Lessee may, in addition to any\nother right or remedy that Lessee may have, deduct the costs and expenses\nthereof from rent subsequently becoming due hereunder; or\n\n     (2)       Elect to terminate this agreement on giving at least ten (10)\ndays' notice to Lessor of such intention, thereby terminating this agreement on\nthe date designated in such notice, unless Lessor shall have cured such default\nprior to expiration of the ten (10)-day period.\n\n                           ARTICLE 14. INSPECTION BY LESSOR\n\n     Lessee shall permit Lessor and their agents to enter into and upon the\nleased premises at all reasonable times for the purpose of inspecting the same\nor for the purpose of maintaining or making repairs or alterations to the\nbuilding.\n\n\n                                          9\n\n\n\n                         ARTICLE 15. ASSIGNMENT AND SUBLEASE\n\n                         ASSIGNMENT AND SUBLETTING BY LESSEE\n\n     15.01.    Lessee shall have the right without the prior written consent of\nLessor to assign this Lease, and any interest therein, and to sublet the leased\npremises, or any part thereof, or any right or privilege pertinent thereto,\nprovided each assignee assumes in writing all of Lessee's obligations under this\nLease, and Lessee shall remain liable for each and every obligation under this\nLease.\n\n                                 ASSIGNMENT BY LESSOR\n\n     15.02.    It is understood that the Lessor contemplates assigning this\nLease or mortgaging the equipment, and that the assignee may assign it.  All\nrights of the Lessor under this Lease may be assigned, pledged mortgaged,\ntransferred, or otherwise disposed of, either in whole or in part, without\nnotice to the Lessee.  If the Lessor assigns this Lease or the rentals due or to\nbecome due hereunder or any other interest herein, whether as security for any\nof its indebtedness or otherwise, no breach or default by the Lessor hereunder\nor pursuant to any other agreement between the Lessor or Lessee, should there be\none, shall excuse performance by the Lessee of any provision hereunder.  No such\nassignee shall be obligated to perform any duty, covenant, or condition required\nto be performed by the Lessor under the terms of this Lease.\n\n                           SUBORDINATION TO FIRST MORTGAGE\n                            NONDISTURBANCE AND ATTORNMENT\n\n     15.03.    This Lease shall be subordinate to the mortgage to SouthTrust\nBank of Calhoun County, N.A. set out in Paragraphs 9.02(2)(a), and shall further\nbecome subordinate to any other mortgage of the entire fee interest of the\nleased premises if and when a nondisturbance agreement in accordance with the\nprovisions of this paragraph is entered into in respect to such mortgage.  such\nnondisturbance agreement shall be in recordable form between Lessee and the\nholder of such mortgage binding on such holder and on future holders of such\nmortgage which shall provide in substance that so long as this Lease shall be in\neffect:\n\n     (a)       all condemnation awards and proceeds of insurance shall be\n               applied in the manner provided for in this Lease:\n\n     (b)       neither such holder nor future holder of such mortgage shall name\nor join Lessee as a party defendant of otherwise in any proceeding to enforce,\nnor will this Lease or the term hereof be terminated or Lessee's possession of\nthe leased premises be disturbed (except as permitted by the provisions of this\nLease) or otherwise affected, by the enforcement of any rights given to any\nholder of such mortgage, pursuant to the terms, covenants or conditions\ncontained in such mortgage or any other documents held by any holder or any\nrights given to any holder as a matter of law; and\n\n     (c)       neither such mortgage nor any security instrument in connection\n               therewith shall cover or be construed as subjecting to the lien\n               thereof any trade fixtures, signs or\n\n\n                                          10\n\n\n\n               other personal property at any time furnished or installed by\n               Lessee of Lessee's subtenants or licensees on the leased\n               premises, regardless of the manner of attachment thereof.  Upon\n               request of the holder of a mortgage to which this Lease becomes\n               subordinate, Lessee shall execute, acknowledge and deliver to\n               such holder an agreement to attorn to such holder as Lessor, is\n               such holder becomes the Lessor hereunder, and not to make any\n               payment of rent for a period of more than one month in advance.\n\n     If the holder of any first mortgage of the entire fee interest of the\nleased premises requires that this Lease have priority over such mortgage,\nLessee shall upon request of such holder, execute, acknowledge and deliver to\nsuch holder an agreement acknowledging such priority.  Lessor shall cooperate\nfully with Lessee in obtaining a nondisturbance agreement from South Trust Bank,\nN.A., and any other holder of a mortgage on the leased premises.\n\n                              ARTICLE 16.  MISCELLANEOUS\n\n                                NOTICES AND ADDRESSES\n\n     16.01.    All notices provided to be given under this agreement shall be\ngiven by certified mail or registered mail, addressed to the proper party, at\nthe following address:\n\n     Lessor:        CALHOUN COUNTY ECONOMIC DEVELOPMENT COUNCIL\n\n     With copy to:  Campbell &amp; Hopkins\n                    P.O. Box 2003\n                    Anniston, AL  36202-2003\n                    Attention:  James M. Campbell\n\n     Lessee:        UNITED DEFENSE LP\n                    P.O. Box 1030\n                    Anniston, AL  36202\n\n                                    PARTIES BOUND\n\n     16.02.    This agreement shall be binding upon and inure to the benefit of\nthe parties hereto and their respective heirs, executors, administrators, legal\nrepresentatives, successors, and assigns when permitted by this agreement.\n\n                                    APPLICABLE LAW\n\n     16.03.    This agreement shall be construed under and in accordance with\nthe laws of the State of Alabama.\n\n\n                                          11\n\n\n\n                                  LEGAL CONSTRUCTION\n\n     16.04.    In case any one or more of the provisions contained in this lease\nshall for any reason be held to be invalid, illegal, or unenforceable in any\nrespect, such invalidity, illegality, or unenforceability shall not affect any\nother provision thereof and this lease shall be construed as if such invalid,\nillegal or unenforceable provision had never been contained herein.\n\n                            SOLE AGREEMENT OF THE PARTIES\n\n     16.05.    This lease constitutes the sole and only agreement of the parties\nhereto and supersedes any prior understandings or written or oral agreements\nbetween the parties respecting the subject matter within it.\n\n                                      AMENDMENT\n\n     16.06.    No amendment, modification, or alteration of the terms hereof\nshall be binding unless the same be in writing, dated subsequent to the date\nhereof, and duly executed by the parties hereto.  NOTE:  BOTH PARTIES\nACKNOWLEDGE THAT A TRANSACTIONS CONTEMPLATED WHEREBY LESSOR WILL SELL\nAPPROXIMATELY 11.25 ACRES OF THE LEASED PREMISES TO AYERS STATE TECHNICAL\nCOLLEGE, AND WILL CONTEMPORANEOUSLY PURCHASE APPROXIMATELY 9.5 ACRES OF\nADDITIONAL PROPERTY WHICH IT WILL INCLUDE AS PART OF THE LEASED PREMISES.\nLESSOR AND LESSEE AGREE TO EXECUTE ALL DOCUMENTS AND TO DO ALL OTHER NECESSARY\nACTS TO ASSIST IN CLOSING OF SAID TRANSACTION SELLING THE 11.25 ACRES, AND TO\nAMEND THIS LEASE TO INCLUDE THE 9.5 ACRES AS PART OF THE LEASED PREMISES.\n\n\n                            RIGHTS AND REMEDIES CUMULATIVE\n\n     16.07.    The rights and remedies provided by this lease are cumulative and\nthe use of any one right or remedy by either party shall not preclude or waive\nits right to use any or all other remedies.  Said rights and remedies are given\nin addition to any other rights the parties may have by law, statute, ordinance,\nor otherwise.\n\n                                  WAIVER OF DEFAULT\n\n     16.08.    No waiver by the parties hereto of any default or breach of any\nterm, condition, or covenant of this lease shall be deemed to be a waiver of any\nother breach of the same or any other term, condition, or covenant contained\nherein.\n\n                                   ATTORNEY'S FEES\n\n     16.09.    In the event Lessor or Lessee breaches any of the terms of this\nagreement whereby the party not in default employs attorneys to protect or\nenforce its rights hereunder and prevails,\n\n\n                                          12\n\n\n\nthen the defaulting party agrees to pay the other party reasonable attorney's\nfees so incurred by such other party.\n\n                                        EXCUSE\n\n     16.10.    Neither Lessor nor Lessee shall be required to perform any term,\ncondition, or covenant in this lease so long as such performance is delayed or\nprevented by any acts of God, strikes, lockouts, material or labor restrictions\nby any governmental authority, civil riot, floods, and any other cause not\nreasonably within the control of the Lessor or Lessee and which by the exercise\nof due diligence Lessor or Lessee is unable, wholly or in part, to prevent or\novercome.\n\n                                   TIME OF ESSENCE\n\n     16.11.    Time is of the essence of this agreement.\n\n                                EXCULPATION OF LESSOR\n\n     16.12.    If Lessor shall convey title to the demised premises pursuant to\na sale or exchange of property, the Lessor shall not be liable to Lessee or any\nimmediate or remote assignee or successor of Lessee as to any act or omission\nfrom and after such conveyance.\n\n     IN WITNESS WHEREOF, the undersigned Lessor and Lessee hereto execute this\nagreement as of the day and year first above written.\n\n                         CALHOUN COUNTY ECONOMIC DEVELOPMENT\n\n                         COUNCIL, Lessor\n\n\n                         BY:    \/s\/ William R. Trammell\n                              -----------------------------------------\n                         ITS:   Chairman\n                              -----------------------------------------\n\n\/s\/ Connie E. Bryant\n--------------------\nWITNESS\n\n                         UNITED DEFENSE LP, Lessee\n\n\n                         BY:    \/s\/ Elmer Doty\n                              -----------------------------------------\n                         ITS:   Division Manager\n                              -----------------------------------------\n\n\/s\/ Linda J. Schwabe\n--------------------\n                              WITNESS\n\n\n                                          13\n\n\n\n\n                                 PROPERTY DESCRIPTION\n\nCommencing at the SW corner of the NW 1\/4 of the SE 1\/4 of Section 21, Township\n16 South, Range 8 East; thence North 00 deg. 00 min. 45 sec. East a distance of\n219.50 ft. to a point; thence South 89 deg. 14 min. East a distance of 25 ft. to\nthe East right of way of Coleman Road and the point of beginning; thence North\n00 deg. 00 min. 45 sec. East a distance of 940.5 ft.  along said right of way to\na point; thence South 89 deg. 14 min. East a distance of 1295.00 ft. to a point;\nthence South 00 deg. 00 min. 45 sec. West a distance of 1134.73 ft. to a point\non the North right of way Electronics Drive; thence North 89 deg. 14 min. West\nalong said right of way a distance of 1072.0 ft. to a point; thence North 23\ndeg. 56 min. West a distance of 214.12 ft. to a point; thence North 89 deg. 14\nmin. West a distance of 135.4 ft to the point of beginning.\n\nContaining 32.2 acres, more or less, situated, lying and being in the NW 1\/4 of\nthe SE 1\/4 of Section 21, Township 16 South, Range 8 East, Calhoun County,\nAlabama.\n\nLESS AND EXCEPT:  Commencing at the SW corner of the NW 1\/4 of the SE 1\/4 of\nSection 21, Township 16 South, Range 8 East; thence North along the half Section\nline a distance of 219.5 ft. to a point; thence East at right angles a distance\nof 25 ft. to a point; thence North and parallel to the half Section line a\ndistance of 940.5 ft. to a point; thence in an Easterly direction at an interior\nangel of 89 deg. 15 min. a distance of 1295 ft. to the true point of beginning\nof the parcel herein described; thence in a Southerly direction at an interior\nangel of 90 deg. 45 min. a distance of 330 ft. to a point; thence in a Westerly\ndirection at an interior angle of 89 deg. 15 min. a distance of 10 ft. to a\npoint; thence in an Northerly direction at an interior angle of 90 deg. 45 min.\na distance of 330 ft. to a point; thence in an Easterly direction a distance of\n10 ft. to the aforesaid true point of beginning.  Containing .075 acres more or\nless, lying in the NW 1\/4 of the SE 1\/4 of Section 21, Township 16 South, Range\n8 East, Calhoun County, Alabama.\n\n\n                                          14\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[9167],"corporate_contracts_industries":[9477],"corporate_contracts_types":[9581,9579],"class_list":["post-41681","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-united-defense-industries-inc","corporate_contracts_industries-aerospace__vehicles","corporate_contracts_types-land__al","corporate_contracts_types-land"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/41681","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=41681"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=41681"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=41681"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=41681"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}