HomeMy WebLinkAbout96-04363
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STIPULATION AGAINST LIENS
THE PEP BOYS. MANNY, MOE & JACK, ) In the Court of Common Plea
a Pennsylvania corporation, Owner ) County of Cumberland, Pennsylvania
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OLYMPIC REALTY & DEVELOPMENT CORP" )
a New York corporation, Developer ) r '" ..
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HOME DEPOT USA, INC" ) ,. ~ ~p I "
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a Delaware corporation, Tenant/Developer ) ...} ~.. . ,
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VERSUS ) d
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PERRY CONSTRUCTION GROUP, INC, ) I~' 4 3lt ~ \'\~l) l' ~
a Pennsylvania Corporatlon, Contractor ) Number Term 1996
WHEREAS, TilE PEP BOYS. MANNY, MOE lit JACK, a Penniylvanlu ~orpo/1ltlon ("PEP BOYS. or 'OWner'), of3tll
Weal AlIeaheny Avenue, Philadelphia, Pennlylvanla la Ihe owner of property located al 6100 Carll.le Pike, Hampden
Townlhlp, Pcnn.ylvanla;
WHEREAS, OLYMPIC REALTY lit DEVELOPMENT, INC" ("OLYMPIC" or "Developer') wuthe equllahle owner of
Ihe Capitol Produell Property 10c~led 10 Ihe Wil of the PEP BOYS property ~nl! Olympl~ anllJor IIll IUC<<llol"llnlenl!1o erecl
anI! eonllruet a bulll!lnl on thc Capitol ProduclI Property known Ui the lIumpden Commonl;
WHEREAS, In order 10 complete Ihe lIampden Commonl ImlJrovcmenl8, IIII allo necellHary 10 erecl and oonltnl~1 certain
Improvemenu to the PEP BOYS property (lhe i1te Improvemenlllo the Humpden Commons proJecl and the Pep BoYI lite belnl
collecllvely referred to herein 8li the 'Slle Improvemenli");
WHEREAS, sold Site Improvemenls wlll be made hy PERRY CONSTRUCTION GROUP, INC, ("Contractor") which Is aboul
10 necute contemporaneoully herewith, a conlract, with HOME DEPOT U.S.A., INC, a Delaware Corporation, a Tenanlln
the Hampden Commoni project, for the ere:tlon of 0 building und completion of Site Improvements to the Hampden Commona
project, which Site Improvements wllllndude Improvcments 10 Ihe land of Owner, PEP BOYS, .. follows: In underlround
slormwaler detention fa~iIIty, the construcllon und re:onfigorallonof porklng urc..s, Ihe rcmoval ond relocallonof the exlstln,
enlrance 10 Ibe PEP BOYS property, and the relocotloll of u PEP BOYS I",le sllln.
NOW, /1 U '/I;.j l I ,1996, ulthc time of und Immediately before Ih. e~""ullon 0\ the principal cont/1l~t,
and before any aulborily h.. been given hy the said Ownu 10 Ihe said Contraclor to commence work on Ihe laid Sltc
Improvemenll or purchllSe materials for Ihe same In conslderutlon of the mllklnll of Ihe said eontracl .".jib Conlractor and the
l\&rthe,' consideration of one dollar to Contru~lor, paid hy Owner, Developer, and T<nant, It I. aercer' thai no lien Ihall be flied
aellnll the land and Ibe hulldlnl by the Conlructor, or any suh.contractor, nor hy any of Ihe malerial men or Wllrkmen or any
olber pel"lon for any lloor. or materiols purchlllied, or e~tra laoor or materiali purchased for the erection of laid building and
Ibe conslructlon Ind Installation of Ihe Site Improvements, Ihc right 10 liIe luch liens being expressly wllved.
This Stipulation Alalnlt Uens may contain mulllp'. sl,nuture pales,