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EXHIBIT 10.8b
AGREEMENT
THIS AGREEMENT made and entered into this 2nd day of March, 1961, by
and between XXXX XXXXXXXXXXX XXXXXXX, some times called XXXX XXXXXXXXXXX
XXXXXXX, XXXX XXXXXXXXXXX, husband of Xxxx Xxxxxxxxxxx, XXXXXXX XXXXXXXXXXX,
also known as Xxxx Xxxxxxxxxxx, a single man and XXX XXXXXXXXXXX, XX., a single
man, hereinafter referred to as First Parties, and SMITTY'S SUPER VALU, INC., an
Iowa corporation hereinafter referred to as Second Party.
WITNESSETH:
WHEREAS, on June 29, 1960, Xxxxxxxxxxx Properties, Inc., an Arizona
corporation, as Lessor, leased to Second Party, as Lessee, the property
described as follows:
That part of the Northeast quarter of the Northeast quarter of
Section Sixteen (16), Township One (1) North, Range Three (3)
East of the Gila and Salt River Base and Meridian, described
as follows:
BORDERING South 45 degrees 0 minutes West 46.88 feet from the
Northeast corner of said Section 16, and the true point of
beginning; thence Southerly 1310.47 feet to a point 33 feet
West of the East line of said Section 16; thence Westerly
652.40 feet to a point that is 1316.25 feet South of the North
line of said section 16, thence Westerly 225.36 feet to a
point that is 1318.59 feet South of the North line of said
section 16; thence Northerly 1285.59 feet to a point 33 feet
South of the North line of said Section 16; thence Easterly
parallel to the North line of said Section 16, a distance of
855.44 feet to the true point of beginning.
ALSO KNOWN as a portion of tracts One (1) and Two (2) of STATE
PLAT NO. 2, according to the plat of record in the office of
the County Recorder of Maricopa County, Arizona in Book 8 of
Maps, page 24.
said Lease being recorded in Docket 5329, page 85, in the office of the County
Recorder of
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Maricopa County, Arizona;
AND WHEREAS, the First Parties are the successors in interest as
Lessors of the above described property by Warranty Deed recorded in Docket
________, page ___, records of Maricopa County Arizona:
AND WHEREAS, the Parties hereto are desirous of placing said Lease in
escrow with Lawyers Title of Phoenix, an Arizona Corporation, so that Lawyers
Title may receive payment from the Second Party under said Lease and in turn pay
the First Parties the respective amount due each;
NOW THEREFORE, it is mutually understood and agreed as follows:
1. Lawyers Title of Phoenix shall receive from the Second Party
the payments due on the Lease each month and in turn shall pay
said amount to the First parties.
2. The First Parties shall each receive one-fourth of the monthly
rental due under said Lease.
3. That at the date hereof Lawyers Title now holds the sum of
________ for disposition to the parties, which constitutes
the rent of the leased premises, from January 24, 1961 to
March 1, 1961.
4. That said sum will be disbursed equally to the First Parties
after payment of legal fees totaling the sum of _____________
which have been presented to Lawyers Title for payment.
5. That the aforesaid Lease provides for a recomputation of the
monthly rental after the first 5 years as determined by a
"Cost of Living" formula as set forth therein; that said
Company shall have no responsibility for determining the
amount due as rent as each successive 5 year period
terminates, but instead First Parties and Second Party shall
by written agreement to said Company designate the amount that
shall be paid as rent in said successive 5 year period.
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6. That Lawyers Title shall have no added duties other than the
collection and disbursement of the rent as aforesaid unless it
specifically agrees to assume additional duties upon the
request of the parties hereto.
7. That when a collection fee is due Lawyers Title for its
services rendered hereunder, said fees shall be deducted on a
pro-rata basis from the individual collection sent to the
First Parties in the month in which said fee becomes due and
payable.
IN WITNESS WHEREOF, the Parties hereto have executed this Agreement the
day and year first above written.
/s/ Xxxx Xxxxxxxxxxx Xxxxxxx
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Xxxx Xxxxxxxxxxx Xxxxxxx
/s/ Xxxx Xxxxxxxxxxx
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Xxxx Xxxxxxxxxxx
SMITTY'S SUPER VALU, INC., AN
Iowa corporation,
by: /s/ Xxxxx X. Xxxxx /s/ Xxxxxxx Xxxxxxxxxxx
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Xxxxxxx Xxxxxxxxxxx
Second Party
/s/ Xxx Xxxxxxxxxxx
by Xxxxxx X. Xxxxx, guardian
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Xxx Xxxxxxxxxxx
First Parties
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