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Home My WebLink About20200360 Ver 1_DEED_20200311cK1588 rc079 NORTH CAROLINA CRAVEN COUNTY PREPARED BY THOMAS M. WARD THIS DEED, made this lath day of September 1997, by and between Alijenn Properties, Inc., a North Carolina corporation with a principal office and place of business in New Bore, Craven County, North Carolina (hereinafter referred to as the "Grantor"), party of the first part, and Craven County, North Carolina, a body politic and a division of the Stale of North Carolina (hereinafter referred to as "Grantee"), whose address is 466 &AVEN STPl:T New Sam, Craven County, North Carolina, 28560, party of the second part; WITNESSETH: THAT WHEREAS the Grantee is desirous of purchasing certain property from the Grantor for the construction of a Convention Center in downtown New Bern, North Carolina; and 4EREAS the Grantor is amenable to the sale of said property for the purchase price of Six u s Y ndred Fifty Thousand and N01100 Delius (5650,000.00) pursuant to certain terms and y m m W eiditions; and r9 m u Q W WHEREAS it is the intention of the parties that in the event that certain conditions one 0t met, the Grantor, its successors or assigns shall have the right to re-enter said property, which ;ht to re-enter shall entail the reversion of all title to the property hereinafter described to the xz antor or its successors and assigns; :H i eCIL NOW THEREFORE, for and in consideration of Six Hundred Fifty Thousand and No/100 Va dlars ($650,000.00) paid by the Grantee, the receipt of which is hereby acknowledged, Grantor has bargained and by these presents does bargain, grant, sell and convey unto the Grantee, in fee simple but subject to a condition subsequent, all that certain lot or parcel of land, lying and being c4:588 Pc080 situate in New Bern. Number Eight Township, Craven County, North Carolina, and being more particularly described as follows: (See Exhibit A attached hereto) To have and to hold the aforesaid lot or parcel of Ind and all privileges and appurtenances thereunto belonging to the Grantee, its successors and assigns, in fee simple, but subject to a condition subsequent that construction of said Convention Center be commenced within two years from the date of the execution of this Dead. For these purposes, "commencement of construction" shall mean that the design and approval stage of said Convention Center shall have been completed and ground broken for the actual on -site concoction of the improvements. That further, as a additional condition subsequent, Grantee shall complete said Convention Center and the same shall be ready for use and occupancy by March 15, 2001. If the Grantee herein shall fail in the compliance of either of said conditions, the Grantor, its successors or assigns shall have the right to re-enter and take possession of the premises, upon payment to Grantee of the sum of Six Hundred Fifty -Thousand and 1,101100 Dollars (S65o,000.00) and all the right title and interest of the Grantee, its successors or assigns shall revert in the Grantor, its successors or assigns without any further action on the part of the Grantee. Exercise of said right to menter shall be evidenced by an Affidavit of the Grantor, its successors or assigns, evidencing a failure of performance of the above -mentioned conditions subsequent, and the payment of the sum of Six Hundred Fifty Thousand and no/I00 Dollars ($650.000), which Affidavit shall be recorded in the Office of the Register of Deeds of Craven County. Said Affidavit shall also include a notarized statement by a licensed engineer, bearing his engineering seal, verifying the failure of either of the aforementioned conditions subsequent -K158s PG081 set forth above. Further, in the event that said Affidavit reflecting the Grantor's exercise of its right to re-enter is not filed in the Office of the Craven County Register of Deeds by March IS. 2004, it shall be conclusively presumed as a matter of record that said right to re-enter has not been exercised and the same shall terminate. AND the Grantor, said parry of the first part, for itself, its successors and assigns, covenants to and with the said Grantee, party of the second pact, its successors and assigns, that it is seized of said premises in fee and has the right to convey the samein fee simple subject to the conditions set forth above; that the some are free and clear of all encumbrances, except those mentioned above, and that it will warrant and defend the said title to the same against the lawRrl claims of all persons whomsoever. IN TESTIMONY WHEREOF, the said Grantor, party of the fast pan, has caused this - instrument to be executed under seal and in such form as to be binding, all by authority of its Board oMirectors duly given, the day and year first above written. ATTEST: SECRETANY ALIJENN PROPERTIES, INC. 3 1 841588 Pc062 NORTH CAROLINA CRAVEN COUNTY Thisislocertifythatonthe 6th day of Icsv 1997, before me personally appeared cARY P. JUm7SON, with whom I am personally acquainted, who. being by me duly swom, says: yp�ty That he is President and VICRIE J. al to ilea &Sat• Secretary of ArItRNN PROPRRTC-orrporation described in and which executed the foregoing instrument; that he knows the common seal of said corporation; that the seal affixed to the foregoing instrument is said common seal, and the name of the corporation was subscribed thereto by the said _ President, attested by said Asst. Secretary, and said common seal was affixed, all by authority duly conferred, and that said instrument is the act and deed of said corporation. WITNESS, my hand and notarial seal, this 6th day of W. My commission expires: August 23. 1998 4 6KI-s3a ?c9C3 NORTH CAROLINA CRAVEN COUNTY The furcgoing ccrtif cati/�f��/�� , allotary Public in and for said County and State, is ,,— jed to be rrect. This inswmeat was presented for registration on this day and hour and duly recorded in th OMce of the Register of Deeds of Craven County, North Carolina, in Book /,2W , at Page 02 THIS day 1997, at � o'cloek%�.M. TMW/cmd Attachment 6 1588 vo004 EXHIBIT A All that certain tract or parcel of land lying and being situate in Number Eight Township, Craven County, North Carolina, in the City of New Bern, and lying at the southwestern intersection of Tryon Palace Drive and Highway 70 East Business, and being more particularly described as follows: BEONNING at a point, which point lies the following courses and distances from the intersection of the northern right -of --way line of Tryon Palace Drive, with the western right-of-way line of Highway 70 Baal Business in downtown New Bern, next to the Alfred Cunningham Bridge: South 50" 08' 01" West 81.06 feet to the aforementioned pointofbeginning; thence from said pointof beginning South 100 13' 30" West 294.86 feet to an iron pipe; thence South 09" 12' 52" West 194.63 feet to an iron pipe; thence South 46' 44' 36" West 101.84 feet to a point; thence North 88' 11' 38" West 38.04 feet to an iron pipe; thence North 43" 02' 18" West 134.17 feet to an iron pipe; thence North 08`.49' 22" West 211.93 feet to an iron pipe; thence North Or ST 40" East 150.43 feel to an iron pipe; thence North 82" 07 20" West 58.69 feet to an iron pipe; thence North 07" SY 06" East 1345 feet to an iron pipe in the southern right. f--way line of Tryon Palace Drive; thence along and with the southern right-of-way line of Tryon Palace Drive South 82" 07' 20" East 79 feet to a point in the westem line of, now or formerly, L.E. Diklel; thence along and with the Mittel western property line South D7" 35` 40" West 127 feet to a point; thence along and with the L.E. Diktat southern property line South 920 0720" East 105 feet to a point; North 07" 35' 40" East 127 feet to a concrete monument in the southern right-of-way line of Tryon Palace Drive; thence along with southern right-of-way line of Tryon Palace Drive South 82" 07' 20" East 158.06 feet to the aforementioned point of beginning. Containing 3.036 acres more or less and being a portion of that certain property recorded in Deed Book 1364, Page 181 of the Craven County Registry to which reference is made. Subject to easements and restrictions appearing of record. This land is conveyed subject to certain restrictions as to the use thereof, running with said land by whomsoever owned, said restrictions which are expressly assented to by the party of the secand part in accepting this Deed being as follows: I, said property shall not be used for a hotel, motel, bed and breakfast or other similar business housing transient overnight guests or boarders; PROVIDED, however, this restriction may be wholly or partly waived by a release of said covenant from the Grantor herein, its successors or assigns. 2. Said property shall be used 40w as a convention center, for a period of two years following completion of the Convention Centpr, anticipated to be built upon this property as more particularly described in the Agreement between the panics hereto, recorded in Books and Page amended by instrument recorded in Book /67e Page " of the Craven County Registry; PROVIDED, however, this restriction may be wholly or partially released by the Grantor herein, its successors or assigns.