Document EY8bOD1g03qdYkXYybNGm9RV

THIS BfSffHWaiT vaiSESSESH: 1. That by an agreement executed on March 22, 1946, RECONSTRUCTION FINANCE CORPORATION, as successor of DEFINSE PLANT CORPORATION, acting by and through WAR ASSETS CORPORATION, leased to SOUTHERN at.aALI CORPORATION, for the tons and on the conditions as to use, payment of rentals, and option to purchase hereinafter repeated, together with all other provisions set forth in said Agreement, the following described property at or near Lake Charles, in the Parish of Calcasieu, State of Louisiana, to-witi The plant site, plant, land, buildings, machinery, equipment, power plant, facilities, end all necessary or use ful easements and appurtenances, located on, or belonging to, that certain tract of land in Sections 3 and 4, Township 10 South, Range 9 West, Southwestern District of Louisiana, be ginning at a point on the line between said Sections 3 ana 4, 140.6 feet South of the Northwest corner of said Section 3, thence. North 39 5S1 East, 1045 feet to a 4 inch iron fence post, for the Northeast corner of this property) thence. South Q02f East, 1200 feet to a 4 inch iron fence post; thence, South 4620* East, 401 feet to a 1^ inch galvanised iron pipe on the right descending bank of Old River; thence, down the said bank with the following traverse. South 4939* lest, 232.6 feet. South 2749* West, 217.2 feet to a point in the North line of the proposed Gulf States Utilities Company Tract No. 1) thence, North 8953' East, 27.3 feet along the North line of said Tract No. 1 to a 1^ inch galvanised iron pipe on the hAnir of Old River, being the Northeast comer of said Tract No. 1 and the Southeast corner of this property, in cluding all property between said traverse lines and the bank of Old River; thence, South 89^53* West, 494.1 feet along the North line of the aforesaid Tract No. 1 to a 1$ inch galvan ised iron pipej thence, continuing along the boundary line of said Tract No. 1, South 6317^> West, 44*9 feet to a 1^ inch galvanized iron pipe; thence, North 002l West, 593.6 feet parallel to and 16 feet lest of the centerline of the East Road and to a l| inch galvanized iron pipe, 16 feet South of the centerline of Road No. 2; thence, South 89058I lest, 1254*9 feet parallel to and 16 feet South of the centerline of Road No. 2 and to a If inch galvanized iron pipe in the East right-of-way line of the Kansas City Southern Railway right-of-way, for the Southwest corner of this property! thence. North 016l West, 1246 feet along the East line of said right-of-way to l| inch galvanized iron pipe, for the Northwest corner of this propertyj thence, North 8953* East, 711 feet to the point of beginning; Containing 58.67 acres. All riparian rights on Old River front ing this property included. 2. Subject to termination by the exercise of the option to purchase hereinafter mentioned, the aforesaid lease is for a term expiring June 30, 1967. 3. Without prior written consent of lessor, lessee shall not sell, assign.or pledge the lease or any of its rights or obliga tions thereunder, or sub-lease or permit the use by others of any of the property covered by the lease* j*BB'0003247^j 4* Lessee is entitled to use the leased promises, end ever/ portion thereof, for the production of chlorine end caustic soda ana eny derivative thereof, end any other chemical, chemical product, or related product) and, with the approval of lessor, 'to make, at lessee's expense, such alterations in the leased property as may be necessary) to install such additional machinery, equipment and facilities as necessary, which shall remain "toe property of leasee and shall not be construed as im movable by destination, and which lessee may remove at any time within six months from expiration or termination of the lease* 5* The rental to be paid by lessee shall be due within 30 days following the expiration of each quarter-annual period and shall be a sum equal to stated percentages of lessee's net realizations from the sale of chlorine, caustic coda and other products including the sale of electric power to others than the lessor during such quarter-annual period. The aggregate rent so paid to lessor in any period of four full consecutive quarter-annual periods, commencing with the first quarterannual period next succeeding the commencement of the payment of rent, shall never be less than $250>000.00 nor more than $1,200,000,00 during the term of the lease* The payment of rent shall comonce as of the date of the beginning of lessee's operation of the leased premises for the production of chlorine and caustic soda, or as of July 1, 1947, whichever date first occur#, provided that said date of com mencement shall be postponed for such tine oft times as shall equal the duration of any delay or delays caused by aots of God. 6. At any time prior to December 31, 1966, lessee may, by written notice to lessor, elect to purchase all but not part of the leased premises at a price to be determined by the appli cation of a pricing formula under which the option price will be the higher of (a) The agreed value of the leased premises as of March 22, 1946, plus interest thereon at L$ per annum from the date of the commencement of the payment of rant less the amount of rentals paid by lessee under the lease prior to lessee's election to purchase under said option with interest on each such rental payment at 1& per annum from the date thereof) gg (b) The said agreed value of the leased premises less an amount representing depreciation, obsolescence and loss of value for each year fractional part thereof at the rate of 65f per annum, coamaccing as of July 1, 1945} provided the minimum residual value shall be 2056 of said agreed value. 7. nothing in this instrument shall amend, restrict, en large, or otherwise vary, the stipulations of the original agree ment executed between the parties on March 22, 1946. IH tilWISS HBEREOy, the parties have executed these presents, in duplicate, through their undersigned authorized | BB 0003248 J KECO3STB0CTTOH PUUROB CORPORATION acting by and through WAR ASSETS AlfiffillSTBATOR Assistant Deputy Administrator soothers alkau corporation Virce President this ,, Ai r___ <*ay of j 1946, JjMpp# a*, tba undersigned Hotaxy Public, wpoa*M^n> ^,1. d . to me personally known, who, being by s duly sworn did say that be is the person who signed the foregoing instrument on behalf of vuh ASSETS AHUNXSTRATDR, acting for RECOHStHUCTlON FOU8CZ CORPORA^ TXOH j that he 00 acted with authority of said Administrator; and he acknowledged said instruaent to be the free act and deed of said Administrator, acting for said Corporation* KOTARY PUBLIC COYL'iSSIOil EXPIRES JULY 14, 1951 On this 7th - day of........ October 1946, be. the undersigned Rotary Public, appeared f. t. taninndh to ne personally known, who, being by ae duly sworn did say that he is the person who signed the foregoing instrument on be half of SOUTHERN ALKALI CORPORATION; that he so acted with authority of the Board of Directors of said Corporation; end he acknowledged said instrument to be the free act and deed of said Corporation* Hotary Public ESSIE L ELLIS, Notary Public *r COIMUSStOJI OCPiRES AT WE END Of THE NEX1 SmiON OF Wf Miff I BB 0003249 j