PROJECT DEVELOPMENT AGREEMENT ‘THIS PROJECT DEVELOPMENT AGREEMENT (the “Aaraemant’ is heraby made land entered into on __day of April, 2023 (the “Effective Date" by and between the City of Decatur, Alabama, & municipal corporation (hereinafter referred {o as “Cily” or Decatur” or ‘Lessor’, and “Ingalls Harbor, LLG, an Alabama limited lability compary (Ihe ) No Fee Mortgages. Lessor (City) shall not encumber Lessor’ (C's) fee simple interest inthe Site or any pat thereof with a merlgage or aher secur interest without the prior \wrtten consent of Lessee (Company) and Lenders), which consent shallbe given provided Such fencumbranee conlains of is accompanied by recognition agreements that reasonably and ‘adequately protect Lessoo's (Company's) and Lenders interests in the Ground Lease and Lleasenold Mortgage, ARTICLE IV THE PROJECT Section 4.1 Development of the Project, (2), The Company hereby covenants and agrees to design, develop, and construct the Project substantial in accordance withthe Development Plan and comply consistonty with ‘the drawings) andor Concepi(s) a8 presented to the Cy. Any material deviation from the Development Pian must be submited tothe Cy in wring by the Company and approved by he City at such time as the Company éetermines to make such change. The Company shall be responsible or any and all costs incident tothe development ofthe Project (provided the City shal bear its legal and engineering coss tether with any coss incurred by the City in rewiewing he development plan and aay olher costs atibuable tothe Cy heroin) ‘The Company hereby covenants and agrees to have Completed Construction of the Project as eet forth in Section 4,1(a) horeo! within four (4) year ofthe date the Cty approves the Development Pian as herein provided (the ‘Completion Deadiine". due to the occurence of 2 Force Majeure Event the Company isnot able to Complete Construction of the Project by the Completion Deadline, then for each day of the Force Majeure Event said deadline shall be extended by one day to address such conditon befor the Company shal be considered defaut of such obligation; prowded that (0 atthe time of he Force Majeure Event the Company is claiming or anicipating, ‘the Company shall have fist provided written notice tothe City containing (1) a description of the Force Majeure Event, (2) an explanation of how the Company anticipates such event wil affect the Company’ abilty o timely perform such obligations, (3) the actions the Company plans to undertake in order to address the Consions caused by the Force Majeure Event, and (4) an estimate of how tong the Company anticipates the Force Majeure Event wil delay its abilty fo commence constuction andlor have Completed Construction ofthe Projact; and {ii 0 event shall the Company have more than four yoars from the date the 7Development Pan is approved by the Ciy to have Completed Construction of the Project uness extended because ofa “Force Majeure Event” described hereinbefore. (©) As used in tis Arce 1V, “Comaleled Constuction” or "Compiate Constnution” shall be deemedto have occurred al such ime as a certlicate of cccupane) shall have been delivered for he Project, and "Force Maieure Event shall mean any materal matter beyond the reasonable conto! of the Company (excluding unfavorable economic consiions), including without limitation, acts of God, earthquakes, fre, floods, tomadoes, huricares, and extreme ‘weather conditions (but not including normal seasonal inclement weather), acts of terrorism, pandemics, epidemics, quarantine restrictions, freight embargos and supply chaln delays, Section 42 Additional Obligations, (2) All constuction activites eogatding any portion ofthe Site shale conducted by ‘Company and in compliance with all applicable laws, ordinances, ules and reguatons of any ‘governmental aunoiy, including, wihaut imitation, all applicable licenses, permits, building Codes, zoning orsinences and subdivision regulaons and flood, disaster and environmental protection laws. The Company shall cause any architect, general conractr, subcontractor or totter business performing any work in connection withthe construction ofthe Project or any ‘ther improvements on the Ste to oblain al necessary permits, licenses and approvals to onstruct the sar. Itls understood and acknowledged thal the Company wl pay any and al fees, access fees, of relied expenses for any permits, licenses or approvals that must be Cobiained from the City or any other governmental authoiy i connection wih construction or ‘operation ofthe Prec. Tho Company shall be responsibe for obtaining all required approvals by the valley Authority fespecting the development, construction and (tf any) operation of the Project (collectively, the "TVA Approval), and inthis regard, the City agrees to cooperate and suppor the Company in obtaining TVA Approvals (6) _ tf tany point in tine the Company becomes aware that is plan of nance forthe Project is negativaly impacted or mpaired tothe extent Completed Construcon wil be delayed in any manner a6 a resul, the Company will immediaaly nolfy the City writing of such ‘ecourtence. The Company wil also within they (30) calendar days of becoming aware of ts plan ‘of finance being mpacted or impaired prove the Cy wth a writen pian of aclon ta remedy such ‘olay hal 'sreasanably acceplabe tothe iy. Failure bythe Company to prove both he writen notice and the writen plan of action will be treated as an Event of Default Section 43 Compliance, The Company shall at all times during the term of this ‘Agreement and the Ground Lease be in compliance with all applicable laws, ordinances, rules. ‘and regulations ofthe Cty and further, shall be curent in payment of any and all rens, taxes, fees, and otner crarges imposed by the Cty. Section 44 Zoning, The Clty warrants to the Company that the Sito is current zoned B-3R and that such 20ning category permis. wihoul exception, the use contemplated herein o, inthe event thatthe current zoning does not authorize said contemplated use, be City agrees 16 rezone te Site fo zoning catagory that will authorize said contemplated use, Section 45 Exemolion from City Liability, In addition to the other provisions contained herein reteving the City from fesponsblly with respect to the Prose, the Company 8hereby agrees thatthe City shall not be liable fr injury to the Company's business or any loss of income therefrom or for damage to the qooes, wares, merchandise er other property of the Company, the Company's employees, tenants, customers, inviees, quest, contractors, visitors, for any dther Person in or about the Project, nor shall the Ci, is employees, agents, representatives and officals be lable for injury tothe Person of the Company. the Company's ‘agents, employees, tenanls,cuslomers, invitees, quests, contractors, or vistors, whether such ‘damage or injury i caused by or results from fe, steam, electric, gas, water or rin, or from the breakage, leakage, obsiructon or other defects of pipes, sprinders, wire, appliances, plumbing, ar conditioning or lighting fitures, or from any other cause, where the said darmage or Injury results rom conditions arising upon the Projector upon athe porn ofthe Site. In ation 1, and nti imitation of, the foregoing, the Company hereby acknowledges and agrees, fr itself land on behaf ofits agents, employees, tenants, customer, invitees, guess, contractors, and \istors, that the use ofthe Projector any other partons of the Site by any Person s done at His, her ors own risk, and thal the Cy is employees, agens, representatives and ofcias shall not be responsible for any oss, damage or expense incurred by any user ofthe Project or any other Portions ofthe Site, The foregoing shall inno event, owever, be deemed to constitute a release {fhe City from clams due te the actions, wilful misconduct or inaction of the Cily in violation ofthis Agreement Section 46 Indemnity. (2) The Parties hereto understand, acknowledge and agree that the Cis sole Involvement withthe Project shall be as landlord under the Ground Lease, and tna the ity shal incur no cost, expense, coligalion, or lability as a result ofthe constuction, development or ‘operation ofthe Projet or from any other activities occuring on the Sie, except as spectcaly ‘humerated in this Agreement (©) The Company shall indemnify and hold harmless the City, its employees, agents, representatives and ofcials fom any and all cams arising trom the Company, or any. Company employee, agent, oF inviee’s negligence or misconduct inthe operation or use of the Project or arising rom any regigence or wilful misconduct of any of the tenants of the: Project, and from and against all costs, atlomeys fees, expenses end labilies reasonebiy Incurred in the defense of any such caim or any action or proceeding brought thereon; ard shal dfend any action or proceeding brought against the City, employees, agents, represertalves. {and officials by reason of any such claim; the Company, upon notice from the Cty, shall defend the same at Companys sole expense by counsel chosen by the Company and reasonably acceptable to the Giy, unless the City shall have a reasonable objection to same. The: foregoing shall in no event however, be deemed to constitute an indemnity tothe Cy from the ‘Company from claims due to the actions, wilful miscondvet, or naction ofthe Cy in velaion lof tis Agreement, ARTICLE V ‘CONDITIONS PRECEDENT Section5.1 Condition Precedent to Citv’s Obligations, ‘The City shall not be obligated fo enter nto the Ground Lease orto undertake any ofits ‘other obiigations hereunder untl the Development Plan shall have been approved pursuant to °‘Atle II hereof and the Cily shal have received the Company's executed counterpart fof this Agroomert, executed By a duly authorzed officer of the Company. Section 52 Conditions Precedent to Company's Obligation, ‘The Company shall not be obligated to enter ino the Ground Lease oF to develop and construct the Plot. untl the Company shall nave received the Citys executed counterpert of this Agreement, executed by a duy authorized officer of the City and the Development Plan shallhave been approved by the City asset forth and gursuant to Article hereot ARTICLE V1 EVENTS OF DEFAULT AND REMEDIES Section 61 Events of Default bv the City Any one of more of the folowing shall constiuie an event of default under this ‘Agreement by the Cy (herein called a “ity Event of Dalai) (whatever the reason for such fevent and whether I shall be volunary of involuniary or befected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule oF reguaton of any. ‘administrative or governmental body) (2) __a potion oF answer is fled by the City proposing the adjudication ofthe City as, bankrupt ors reorganization, arrangement or debl readjsiment under any present or fuure fedora ankruptoy code or ay similar federal or stale law in any court, oF if any such petition or ‘answer is fled by anyother Person and such petiion or answer shallot be stayed or cismissed ‘win 60 days; er (©) fare by the City to perform or observe any of its agreements or covenants contained inthis Agreement, which falure shall have continued fora period of tity (30) calendar ‘days after writen notice thereat rom the Company, unless (the Company shall agree ia writing to an extension of sich period pric to. its expraion, or (during such thity (30) day period or any extension thereof, the Cty has. ‘commend and s reasonably pusuing appropriate corrective action (0) 2 ataul, folowing expiration of any applicable cure period, bythe City under the Ground Lease. Section 62 Evants of Default bythe Company. (a) Ary one or more ofthe following shall constitute an event of deault under this ‘Agreement by me Company (nerein called @ -Comgany Event of eta (whatever te ressore for such event ard whether shall be voluntary 0” mvolunlary OF be offectod by operation of aw for pursuant to any judgment, decree or order of any court or any order ule o” regulation of any ‘administrative or overnmenial body) 10(0. __atany ime priorto the completion by Company ofits obligations hereuncer, the Company s dissolved or hquidated, or te ing by the Company of voluntary petition in bankrupiey, or the Company sesking of or consenting fo or acquiescing in the ‘appointment of a recover of ll or substantially al ofits property. or the adjudication ofthe Company as bankrupt, or any assignment by the Company for he ene ofits creditors, ‘or it' peition or answer i fled by the Company proposing the adjudication of the ‘Company a8 bankrupt os reorganization, arrangement or debt readusiment uncer any present or fue federal bankruptcy code or ary sir federal or state law in any cour, ‘rif any such petition or answer i led by any ther Person and such petiton or answer Shall not be stayed or csmissed within sixty (60) days; or (i) faire by the Company to substantially perform or observe any of its ‘agreements or covenants contained in this Agreement, which failure shall have Continued fora period of thirty (30) calendar days after writen notice thereot rom the City to Lessee and to Lessee's Lenders, unless (1) the City shall agree in witing to an extension of such period prior twits expiration, or (2) curing such tity (30) day period or any extension thereof, the Company has commenced and is diigently pursuing appropriate corrective fclion. ‘Should the Lessee fal to cure sald default within 30 days, then the City shall further ‘notice Lessee's Lendor(s) on tha Site of the continued default and Lessee's Lenders, ‘hall have an additonal 30 day period, If elects, to cure said default, or (i) & cofeut, folowing expiration of any applicable cure period, by the ‘Company under the Ground Lease (©) Notwithstanding anything to the contrary. City may not terminate the Leasehold Estate resulting from a Company event of default without frst having given notice fo Company's Lenders as more specially enumerated in Article 3 herein. Section 6.3 Remedies aubiect to Anplicable Law. All ights, remedies and powers provided inthis Arce VI may be exerted only to the extent the exercise thoroot doesnot violate ‘ny appicabe provision of law in he promises, and all the provisions ofthis Ale Var intended to be subject to all appicable mandatory provisions of law which may be controling in the premises and to be limited to the extent necessary so thal he same wil not render this Agreement Frvalé or unenforceable. ARTICLE VI! (MISCELLANEOUS PROVISIONS Section7.1 Term, Subject o and upon the tems and conditions set forth herein, this ‘Agreement shall coninue in force and eect tal mes during the term ofthe Ground Lease, Section7.2 Restrictions on Assianment, The Company shall not have the right to assign or otherwise transfer is ighis or obligations under this Agreement without the pir writin Consent of the City prior fo Completed Construction (as defined in the Ground Lease) of the "Project, and any purported assignment, transfer, oncumbrance or hypothecation ofthis Agreement Cor any ofthe rights or obigations Nereunder in voiaton of this Section 72 stall be null and void fand of no force oF effect Al any time following Completed Construcion of the Project, the ‘Company shal have the right to tanster and assign this Agroement together with a rights in the ‘Site both real and personal to an enti with verified net worth of Five Milion and no(100 Dolars ($5,000,000.00). That entiy must agree to comply wth and be bound by he terms and conatons ofthis Development Agreement an the Ground Lease tothe same exten! as the Company. The ‘Company shall proviéo the ily wih the enlys writen agreemen: to such commiment. Notwithstanding anyhing tothe contrary in this Artie 7, there shouldbe ro restrictions associated with the Company proving iis Lender or Lenders with such adequale leasehold mortgage ‘Security as such Lender or Lenders may deem necessary and appropfale, Section 7.3 Negation of Partnership, The Parts specicaly acknowledge tat no Party is acting asthe agent ofthe ater Party in any respect hereunder, and tat each Party is 2n independent contracing entty wih respect fo the forms, covenants and conatons contained in this Agreement. None ofthe terms or provisions of his Agreement shal be deemed fo create a partnership or joint venture between or among the Parties, or cause them fo be considered jint Venlucare or members of any joint enterprise, This Agreement isnot inended and shall ot be construed to create any third party beneficiary nights in any Person who 's not @ party oF @ permitted transferee pursuant this Agreement; and nothing inthis Agreement shalliit or waive fy rights anyone or more of the Paros may have or aquire against any hird Person with respect tothe terms, covenants or conditions ofthis Agreement. Section 7.4 Severability, invaidaton of any of the provisions contained in this, ‘Agreement, fof te appication mereot to any Person, by judgment or court order, shalin no way affect any of the ciher provisions hereot or the application thereof lo any other Person or {rcumstance and the same shall remain in ful force and effect, unless enforcement of his [Agreement as 80 invalidated would frutale the purposes of this Agreament Section 7.5 Exhibits, The Exhibits, to which reference is made herein, are deemed Incorporated into this Agreement in ther enirely by reference therel Section 7.6 Amendment, Except as expressly provided in this Agreoment, ths ‘Agreement may be mosiied or amended only by a written instrument, executed by each of the Paes to this Agreement. Section 7.7 Entice Agreement: Conflict with Ground Lease, (2) This Agreement and the exhibits hereto contain al the vepresantations and the: centre agreement among the Parties with respect to the subject mater hereof. Except as. ‘otherwise specied in this Agreement, any prior correspondence, memoranda, agreements \warrariies or representations are. superseded in total by this Agreement and exhibits hereto Nother the conduct nor actions of the Parties, nor the course af dealing ar other custom or practice between or among the Partes or any of them, shell constiule 8 walver or modfcation ‘of any term oF provision of tis Agreement (0) Inthe event of a confit between this Agreement and the Ground Lease, the terms of te Ground Lease shal contol Section 7.8 Ambiguity, The terms, conditons and provisions ofthis Agreement were agreed to In arm's length negotiations in which each Party was represented by independent 2Counsel offs own choosing. Accordingly, in the event of any ambiguity inthis Agreement, such ‘ambiguiy shall not bo resolved against any Party deemed ihe principal draftsman of this ‘Agresment or the spectic provision ofthis Agroementatissve, Section 7.9 Further Assurances: Covenant to Sion Documents, Each Party shall take al actions and db all tings, and execute, with acknowledgment or affdavi If required ‘any and all'documents and wrilnge, which may be necessary oF proper to achieve the purposes and objectives of ths Agreement Section 7.10 Sountermart Exacution, For convenianco, this Agreement may be executed by the Parties in multiple counterparts, each of which shall constitute an original, and Allo which, when taken together, shall constitute one and the same Agreement Section 7.11. Liabilities of the Gity, The Company understands, acknowledges and ‘agrees tha the obigatons of the Gy as set forth heroin ae ited by the iitaions imposed on pubic bodies, municpalties and pubic corporations by the Constiuion of the State of ‘Alabame and under otter applicable Alabama law. Section 7.12 No Walvat. No consent or waiver, express or implied, by any Party hereto orto any breach or detail by any other Paty in he performance by such oiher Party of is ‘obligations hereunde shall be valid unless in writing, and no such cor'sent or waiver lo or of ‘one breach oF gefault shall constitute a consent or waiver to or of any other Breach or default Inthe performance by such other Pary of the same or any other obligations of such Party hereunder. Failure onthe part of any Party to complain of any actor fale to act of any other Party oro declare such other Party in default, respective of how long such failure continues, shall not constitute a waiver by such Party ofits rights hereunder. The granting of any consent ‘or approvalin any one instance by or on behalf of any Pay hereto shall not be construed to ‘waive or init the need for such consent in any other or subsequent instance. Section 7.13 Notices, (2) All notics, demands, consents, ceticates or other communications hereunder ‘hailbe in writing, shal be sufficiently given and shallbe deemed given when delvered personaly te the Paty orto an oficer ofthe Party to whom Bie same is deecied, or maled by registered of Ccertied mall, postage prepaid, or sent by overnight cour, addressed as folows (1) Tote cing Oy of Decatur, Alabama Post Ofice Box 488 Decatur, Alabama 25602 stn: Mayor malt fbowling@decatur-al.gov Phone: 256-241-4508, @) tothe Company. atic Lawler, Sole Managing Member 301 Scott Steet Buntersvile, AL 36976 ‘tn: Patrik Lawer 13malt patickt5t @verzon.net Phone: 972-899-3192 with copies to: David Jones, Esa. 2308 Worth 'Sieat/ PO Box 940 ‘Guntersvie, Alabama 35976, Emalt di@imcavile.com Phone: 256-582-0588 (©) __ Any such noice or other document shall be deemed to be received as ofthe date etvered delivered personally, or as of three (3) days afte the date deposited inthe mal, which ‘aling shall be certfed mai relum recebst requested, if mailed, or the next business day, i Sent by overnight counter. Itany Notice isnot received or cannot be delivered due to @ change in adcress of the receiving Party, of which noice was nat propery given tothe sending Party, oF ‘duet a refusal to accep! bythe receiving Party, such Notice shal be effective on the dae delivery Is attompted, “Sending party isnot responsible if notice s not propery ceivered or received due to flue of receiving party to undale its contact information, Section 7.14 Brokerage, Each Party warrants tothe other and does release and hold harmiess tho other Party rom ary brokerage or commission claims by any third party Section 7.15 Venus, Each ofthe City and Company (2) travocably submis to the jurisdiction ofthe Alabama slate cours siting in Morgan ‘County, Alabama and any and al appelate cours (collectively, the “Courts") over any sul, acton (oF proceeding arising out of or relating to ths Agreement, the Ground Lease, or any of the {raneactions undartaken in connection therewith (an “Agreament Acton) (©) waives, to the fullest extent permited by law, any objection or defense that such Party may now or hereafter have based on improper venus, lack of personal jurscicton, inconversence of forum oF any similar mator in any Agreement Action Brought in any of the Courts: and (©) agrees that final judgment in any Agreement Action brought in any ofthe Courts shall be conclusive and binding upon such Parly and may be enforced in any otter court tothe Juredition of whieh the Cy or the Company ie subject, By 9 sul upon such judgment ARTICLE Vil (CITY INDUCEMENTS. In order for the Cty to induce the Company to ener into this Development Agreement and expend its resources conducting due dligence onthe St, the Cty has agreed to incentivize the Company by taking thare actone ae more fully deccrined on Exhibit © allached hereto and Incorporated herein, INWITNESS WHEREOF, he Cy and Company have each caused this Agreement tobe duly executed in its name, under seal, and the same altested, all by officers thereat duly ‘authorized hereunto, and have caused this Agreement to be dated the date and year fist “above writen, come CITY OF DECATUR, ALABAMA, 2 Municipal Corporation ey: LS) Mayor ATTEST: EAD "COMPANY": {Ingalls Harbor, LLC, an Alabama limited lability company By: Ls) Patick Lawler, ts Sole Managing Member 6STATE OF ALABAMA =) COUNTY OF MORGAN) J, the undersigned autoriy, @ Notory Pubic in and for said State at Large, hereby cority that Tab Bowing, whose namo, as Mayor ofthe Cty of Decatur, Alabama a municipal ‘corporation is signed'o the foregoing instrument, and who is known to me, acknowledged before ime on ths day, tht being informed of the contents of this instrumeni, ne, as such officer, executed the seme vokinary for and as the act of sald municipal corporation on the day the same bears date GIVEN under my hand and official seal this __day of. 2028. My Commission Expires: STATEOF ALABAMA) ‘COUNTY OF ’ | the undersigned authoriy, a Notary Public in and for said State at Large, hereby cet that Patrick E. Lawler, whose name, as Sole Managing Member of Ingalls Harbor, LLC, an ‘Alabama limited lability company, i signed tothe foragoing instrument, and who's known 1 me, acknowledged before me on this day, that being informed ofthe contents of this instrument, he, in such capaciy, executed the same voluntary for and asthe act of sai ited lability company Con the day the same boars date, GIVEN under my hand and oficial seal this _day of. 2028. My Commission Expires: 6EXHIBIT A, mEsTEexhibt'A* STATE OF ALABAMA) COUNT OF MORGAN) | NCHARO W. HUMPHREY, A PROFESSIONAL LAND SURVEYOR OF DECATUR ALABAMA, HEREBY ‘CERT THAT THE FOREGONG 5A TRUE AND CORRECT MAP OR PLAT OF THE FOLLOWING DESCRIBED EAL ESATE,STUATED WITMIN SECTION 7, TOWNSHIP 5 SOUTH, RANGE 4 WEST, DECATUR MOFGAN [COUNTY ALABAMA AND MORE PARTICULARLY DESCRIBED AS FOLLOWS TO. WIT BEGIN ATTHE [NORTHWEST CORNER OF UNET ONE AS SHOWN ON CERTIICATE No, 2308-16 AND RECORDED MISC [800K 2017 AT PAGE 4259 N THE OFICE OF THE JUDGE OF PROBATE MORGAN COUNTY, ALABAA "TWENCESOUTH 4 CEGHEES 4 MINUTES 1 SECONDS WEST ALABAMA SATE PUNE GRD, WES {ZONE MADEN) A DISTANCE OF 39074 FET TOA 3/4 NCH REBAR AT THE SOUTHWEST CORNER OF ‘SAD UNT ONE THENCE SOUTH 56 OEGREES 58 MUTES 40 SECONDS WEST A DISTANCE OF 80615 FEET TOA POINT ON THE NORTMERLY RIGHT-OF-WAY MARGIN OF ALABAMA HIGHWAY 2, SAIDPONT ‘BENG THE TRUE PCINT OF BEGBWNING; THENCE FROM THE TRUE POINT OF BEGINNING ALONG & ‘CURVE TO THE EFT HAVING A RADUS OF 1221.28 FEET CHORD BEARING SOUTH 76 DEGREES 25 ‘ATES 0 SECONDS WEST A CHORD DISTANCE OF 6 FET AN ARC DISTANCE OF 68.10 FEE TOA ‘CAPPEDIRON Pe THENCE NORTH 56 DUGRES 21 MINUTES SB SECONDS WEST ADISTANCE OF 1687 FEETTOA CAPPED HON PR THENCE NORTH 33 DEGREES 45 MANUTES5E SECONDS WEST A DISTANCE (OF 4020 FEET TOA 3/4 CH REBAR: THENCE NORTH 32 DEGREES 5 MINUTES 21 SECONDS EAST A [STANCE OF 2195 FE TOA CAPDED ROM PIN THENCE NORTH DEGREES 32 MNUTES 22 ‘SECONOS AST ASTANCE OF 2029 FET TOA 1/2 NOH REBAR THENCE NORTH 41 DCGRES 30 ‘NTE 3 SECONDS ESTA DISTANCE OF 85353 FET TO A 3/4 NCH REBAR: THENCE SOUTH 78 [OGGREES 05 MINUTES 32 SECONOS EAST A DISTANCE OF 8206 FET TO A POINT; THENCE NORTH 2 ‘DEGREES 28 MINUTES 4 SECONDS EAST A DISTANCE OF 30066 FET TO A PORT ON THE BANK OF TAC "TENNESSE VER THENCE ALONG THE BANK OFTHE TENNESSEE RVER ALONG A CURVE TO THERIGHT -HAVINGA RADIUS F 2500 EET CHORD BEARING SOUTH O1 DEGREES 50 MINUTES 31 SECONDS AST ‘A CHORD DISTANCE OF 3432 FEET AN ARC DISTANCE OF 37.83 FEET TO A PONT; THENCE SOUTH [DEGREES 99 MINUTES 39 SECONDS WEST AOSTANCE OF 13000 FEET TOA POINT THENCE ALONG A {IVE 10 THE LEFT HANG A RADIUS OF 25.0 FEET CHORD BEARING SOUTH 03 DEGREES 28 MINUTES 27 SECONDS EAST A CHORO OSTANCE OF 35.6 FEET) AN ARC DISTANCE OF 3927 FETTOA PONT. THENCE SOUTH 48 OECREES 29 MINUTES 27 SECONDS EAST A DISTANCE OF 670 FEET 1.4 POINT HENCE ALONG A CURVE 70 THE LEFT HAVING A RADIUS OF 25.00 FEET (CHORD BEARING "NoRT OFGRES 30 MINUTES 33 SECONDS EAST A CHORD OSTANCE OF 3536 FORD AN ARC DISTANCE OF 3827 FEETTO.A PONT: THENCE NORTK 4 DEGREES 30 MINUTES 33 SECONDS EASA DISTANCE OF 40.09 FET TO.A POINT, THENCE ALONG A CURVE TO THE RIGHT HAVING A RADE OF 537.50 FET (CHORD BEARING SOUTH 48 DEGREES 29 MINUTES 27 SECONDS EAST ACHORD OISTANCE (fF 7S FEET AN ARCOISTANCE OF 11781 FEETTO A POUT, THENCE SOUTH 4 DEGREES 30 MNUTES. 33 SECONOS WEST A DSTANCE OF SSODD FET TO APOIT, THENCE SOUTH 7 DEGREES 1 MITES ‘S4SECONOS WEST A DSTANCE OF 200.00 FEETTO A POINT: THENCE NORTH 48 DEGREES 28 MINUTES 52 SECONOS WEST A DSTANCE OF 105.0 FEET TO A OWN: THENCE ALONG A CURVE TO THE eT HAVINGA RADUS OF 58.0 FEE (CHORD BEARNG SOUTH 03 DEGREES 51 MINUTES 48 SECONDS WEST ‘8 CHORD DISTANCE OF 61.08 FEET AN ARC STANCE OF 65,70 FEET TOA FOINT, THENCE SOUTH 3 ‘DEGREE 46 MINUTES 58 SECONDS EAST A DISTANCE OF 31905 FET TO A POINT; THENCE SOUTH 56 [DEGREES 21 MINUTES 59 SECONDS EAST A DISTANCE OF 20611 FET TO THE TRUE PON OF ‘BEGINING AND CONTAINING 5260 ACRES MORE OR ESS THAT THERE ARE NO ENCROACHMENT BY BunDMics OW ADIONING PROPERTY THAT THER ARE NO RIGHTS OF WAS EASEMENTS, OR OMT DRIVEWAYS OVER OR ACROSS SND LOT VISOLEON THE SURFACE EXCEPT AS SHOWN ON PLA. AND