Sample Business Contracts

South Carolina-Travelers Rest-Highway 25 Indenture of Lease - C. E. Runion and Double Envelope Corp.

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  • Commercial Lease. Start a state-specific lease for the rental of commercial property. Specify the term and rent due, as well as whether the landlord or tenant is responsible for property taxes, insurance, and maintenance and repairs.
  • Commercial Sublease. When a tenant vacates commercial property before the lease term has expired, it may be able to rent the premises to a third party. The tenant would be the sublessor and the third party would be the sublessee. Besides preparing a sublease, both parties will want to review the provisions for assignment or subletting in the original lease agreement between the landlord and the sublessor.
  • Sublease Agreement. Tenants of residential property should prepare a sublease agreement if they are seeking to sublease a room or the entire apartment or house to a third party. All parties should review the original lease agreement to see if there are any restrictions on subletting or assigning the premises.
  • Triple Net Lease. Triple net leases are a type of commercial leases where the tenant has to pay for property taxes, insurance, utilities, and maintenance, in addition to the monthly rent.
  • Office Space Lease. When renting an office space, tenants should understand the amount of the rent and duration of the lease. Other important terms include whether the space can be subleased, which parties are responsible for maintenance, and whether any furniture and furnishings will be provided.

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                             )         LEASE

    THIS INDENTURE OF LEASE, made at Greenville, South Carolina, the 19th day 
of June, 1992, by and between C.  E.  Runion, who, together with his heirs, 
executors, administrators, successors, and assigns, is hereinafter referred 
to as the "Lessor" and DOUBLE ENVELOPE CORPORATION, who, together with its 
successors and assigns, is hereinafter referred to as "Lessee",

                           W I T N E S S E T H:

    1.   PROPERTY TO BE LEASED.  For the terms and conditions as hereinafter set
forth, the Lessor does hereby lease to the Lessee the real property located 
on Highway 25, Travelers Rest, Greenville County, South Carolina, and more 
particularly described in Exhibit A attached hereto and made a part hereof by 
reference with improvements thereon, erected thereon and all of the 
appurtenances upon the property, all of which are hereinafter referred to 
collectively as the "leased premises".

    2.   TERM.  To have and to hold for a term of five (5) years, commencing 
on June 19th, 1992 and ending on June 18, 1997.

Page 1


    3.   AUTHORIZED USE.  Lessee shall use the leased premises for purposes 
of operating a manufacturing facility and all other lawful purposes.

    4.   RENT.  Lessee hereby covenants to pay to Lessor Four Hundred Forty 
One Thousand One Hundred Eighty and No/100 ($441,180.00)

         Dollars as rental for the leased premises for the base term of this 
Lease, the sum of Eighty Eight Thousand Two Hundred thirty Six and no/100's 
($88,236.00) Dollars per annum, payable in equal installments in advance in 
the amount of Seven Thousand Three Hundred Fifty Three ($7,353.00) Dollars 
each per month, upon the first day of each month during the term of this 

    5.   TAXES.

    (a) Lessee shall pay, during the term of this Lease, to the public 
officers charged with the collection thereof, promptly as the same shall 
become due, all current real estate taxes and assessments, both general and 
special, beginning with such taxes and assessments which shall become due and 
payable upon and after the date of the commencement of this Lease, and that 
may hereafter, during the term of this Lease, be levied, assessed, charged, 
or imposed upon the leased premises described herein and/or the improvements 
which now or hereafter may be located thereon. Any partial year to be 
prorated by the parties.

    (b) Lessee shall, during the term of this Lease and all extensions or 
renewals thereof, pay, as the same become due,

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all sales tax, personal property tax or use tax, if any, imposed by state law 
or by city or county ordinance upon any property or improvement actually 
purchased and installed by Lessee to be used in the course of its business, 
or inventory stored on the premises by Lessee.

    (c) If the real estate taxes and assessments, both general and special, 
assessed against the premises for any lease year shall exceed such taxes 
assessed against the premises for the first tax year during which the leased 
premises shall be assessed as improved property, for the said lease year, 
Lessee shall pay to Lessors as rent, in addition to all other rents payable, 
the amount of such excess.

    6.  INSURANCE.

    (a) Lessee shall maintain insurance in the minimum amount of $750,000.00 
during the term of this Lease, and shall pay the cost of initial and renewal 
premiums therefor and present receipted bills therefor to Lessee, which shall 
cover Lessors and Lessee, as their interests shall appear, insuring the 
leased premises against loss or damage by fire, lightning, and such perils as 
are from time to time comprehended within the term "Extended Coverage", 
provided, however, that should Lessee change its use, add a fixture or do any 
other act or cause any other act to be done which increases the insurance 
rate to the Lessor over and above what it would ordinarily have been, then 
said increase must be borne by Lessee and shall be payable by Lessee upon ten

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(10) day notice of said increase and is to be considered as part of the rent 
hereunder.  Insurance on the contents and trade fixtures installed by Lessee 
shall be the responsibility of Lessee.

    (b) Lessee shall maintain public liability insurance against claims for 
bodily injury or death and for injury to or destruction of property occurring 
upon, in or about, or arising from the leased premises, such insurance to 
afford protection to a limit of not less than Three Hundred Thousand 
($300,000.00) Dollars in respect to bodily injury or death suffered by any 
one person, and to the limit of not less than Five Hundred Thousand 
($500,000.00) Dollars in respect to any one occurrence, and to the limit of 
not less than Fifty Thousand ($50,000.00) Dollars in respect to damage to or 
destruction of property arising out of any one accident.  Said policy of 
insurance shall name both Lessee and Lessor as insureds, as their interest 
may appear.

    (c) All insurance provided for in this Section 6 shall be effected by 
Lessee through insurers satisfactory to Lessor and Lessee under valid and 
enforceable policies which may be blanket policies, and certificates of such 
policies shall be delivered to Lessor upon request.

    7.  CONDITION OF THE PREMISES. The property contains 46,400 square feet 
of floor space. Lessee agrees not to make any changes, alterations, or 
additions about the leased property without first obtaining the written 
consent of the Lessors except

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as permitted in Paragraph 8 below.  All plumbing, mechanical and HVAC 
equipment and systems will be placed in good working order by the Lessor 
prior to the commencement of the Lease term.  The Lessor will properly paint 
the office area, cafeteria, restrooms and outside trim, gutters and 
downspouts prior to the commencement of the Lease.  Lessor agrees to install 
exhaust fans in the bathrooms and to pay one-half of re-doing and beautifying 
of the parking lot and installation of exit emergency lights.  Provided, 
however, in no event shall Lessor's share exceed $6,000.00.

    8.  REPAIR AND CARE OF LEASED PREMISES.  Lessee will not commit any waste 
of the leased premises.  Lessee shall not use or permit the use of the leased 
premises in violation of any present or future applicable law of the United 
States or of the State of South Carolina, or in violation of any present or 
future applicable municipal ordinance or regulation.  Lessee may, but at 
Lessee's own cost and expense and in a good and workmanlike manner, make such 
alterations and improvements on the leased premises to include drilling holes 
in concrete floor to secure equipment as Lessee may require for the conduct 
of Lessee's business and without, however, materially altering the basic 
character of the leased premises and the building or improvements thereon or 
weakening any structure on the leased premises.  Lessor shall be responsible 
for the maintenance of the roof of the leased premises and all exterior 
repairs except for damages

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caused by Tenant.  Lessee shall be responsible for all interior items, 
including plumbing, electrical, carpets, walls and repairs on the heating 
system and air conditioning.  Lessee shall keep the entrance ways and 
parking areas reasonably free from ice and snow and at all times keep the 
leased premises in clean and orderly condition.

    9.  UTILITIES.  Lessee shall pay all charges for heat, gas, electricity,
water, and other public utilities used on the leased premises.

    10.  REMOVAL OF IMPROVEMENTS.  If requested by the Lessor at the 
termination of this Lease, Lessee shall, at Lessee's sole expense, remove all 
installations, alterations, or improvements made by Lessee in or on the 
leased premises or make such other disposition thereof as Lessors shall 
approve.  All alterations, improvements, furnishings, trade fixtures, 
equipment, and other personal property installed in or on the leased premises 
by Lessee and paid for by Lessee shall remain the property of Lessee and may 
be removed by Lessee upon the termination of this Lease, provided that (a) 
any of such items as are affixed to the leased premises and require severance 
may be removed only if Lessee shall repair any damage caused by such removal 
and (b) Lessee shall have fully performed all of the covenants and agreements 
to be performed by Lessee under the provisions of this Lease.  If the Lessee 
fails to remove any items referred to hereinabove from the leased premises 

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thirty (30) days following the termination of this Lease, all such 
alterations, additions, and improvements shall become the property of the 
Lessor unless Lessor elects to require their removal.


      (a) Except as expressly herein provided, no destruction of or damage to 
the leased premises shall entitle Lessee to surrender possession of the 
leased premises or to terminate this Lease.  Lessor agrees that in the event 
of any damage to or destruction of any buildings and improvements, or either 
of them situated on the leased premises occasioned by fire or other hazards 
insured against under the policies of insurance hereinbefore referred to, 
then Lessor shall commence restoration or repair of the leased premises as 
promptly as possible after occurrence of such damage or destruction, and 
shall substantially complete such restoration or repair with reasonable 

      (b) In the event Lessee is deprived of any of the occupancy of any part 
of the leased premises, by reason of or in consequence of any such damage or 
destruction, whether or not insured against, provided the same is not 
occasioned by the act or acts of Lessee, Lessee's officers, employees, or 
agents, then Lessee's obligation to pay rent shall be reduced in proportion 
to the time during which and to the area of the building of which the Lessee 
shall be so deprived because of such damage or destruction or the repair and 
restoration thereof.

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    (c) It is, however, expressly understood and agreed, anything 
hereinbefore contained which may appear to the contrary notwithstanding, that 
if any damage or destruction of the building and improvements at the time 
located on said leased premises shall occur during the last six (6) months of 
the term of this Lease, both Lessor and Lessee shall have the option, upon 
giving written notice of the exercise thereof to the other party, within 
thirty (30) days after the happening of such damage or destruction, to 
terminate this Lease, in which case any and all obligations of Lessor to 
restore said building and improvements shall likewise terminate. Provided, 
however, Lessee may elect to renew for additional five year term in which 
event the Lessor will restore or repair as hereinabove provided.  Provided, 
however, such election must be communicated to Lessor within thirty (30) days 
after destruction notwithstanding Paragraph 24.  In the case of the 
termination of this Lease, Lessee shall be required to pay rent only up to 
the time of such termination, and the portion of any rent paid in advance, 
apportioned as aforesaid, covering the period of time subsequent to such 
termination, shall be refunded by Lessor to Lessee.

    12.  LIABILITY FOR DAMAGE; INDEMNIFICATION.  Lessee agrees to indemnify 
Lessors against, and to defend and hold Lessor free and harmless from, any 
and all claims due to injury of persons (unless caused by the sole negligence 
of Lessor or any facilities to be maintained by Lessor) arising out of 

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occupancy and/or use of the leased premises, during the term of this Lease or 
extension hereof, or any other holdover occupancy.

    Except as provided above, Lessee further agrees to indemnify Lessor 
against, and to defend and hold Lessor free and harmless from, any and all 
claims of any kind or nature arising from Lessee's use of the leased premises 
during the term of this Lease or any extension hereof, or any other holdover 
occupancy, and Lessee hereby waives all claims against Lessor for damage to 
goods, wares, and merchandise and any and all other property, due to any 
cause whatsoever, except the sole negligence of Lessor during the term of 
this Lease or extension hereof, or any other holdover occupancy.

    13.  ASSIGNING AND SUBLETTING.  Lessee shall not sublet the leased 
premises or any part thereof nor assign this Lease, without in each case the 
prior written consent of Lessor which consent will not be unreasonably 
witheld.  Any consent by Lessor to any assignment or subletting shall not 
constitute a waiver of the necessity for such consent to any subsequent 
assignment or subletting.  In the event that Lessee shall at any time, during 
the term of this Lease or any renewal or extension hereof, or any other 
holdover occupancy, sublet all or any part of the leased premises or assign 
this Lease, either with the consent of Lessor, then, and in such event, it is 
hereby mutually agreed that Lessee shall nevertheless remain primarily liable 
under all of the terms, covenants, and conditions of this Lease.  If this 
Lease be 

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assigned, or if the leased premises or any part thereof be subleased or 
occupied by anybody other than Lessee, Lessor may, after default by Lessee, 
collect from the assignee, sublessee, or occupant all rental or other charges 
herein reserved, but such collection by Lessor shall not be deemed an 
acceptance of the assignee, sublessee, or occupant as a tenant nor a release 
of Lessee from the performance by Lessee of Lessee's obligations under this 

    Notwithstanding the foregoing, the Lessor agrees that this Lease may be 
collaterally assigned to First Union National Bank or any other lender 
requiring such assignment from the Lessee.  The Lessor further agrees to give 
notice of any default by Lessee to any such lender provided the lender has 
given the Lessor notice of the assignment and an address for delivery of 
notice.  Any such lender shall have the right, but not the obligation, to 
cure any default for and on behalf of the Lessee within the time allowed for 
curing default as provided herein.  In the event that any lender shall 
succeed to the rights of the Lessee pursuant to the terms of its assignment, 
the Lessor agrees to acknowledge such lender as Lessee hereunder with all 
rights and privileges, so long as such lender performs all of the obligations 
to be performed by Lessee under this Lease.  The Lessor further acknowledges 
that First Union National Bank has a security interest in the personal 
property of Lessee on the premises.  The Lessor agrees to give First Union 
full right of

Page 10


access to the premises after any default by Lessee, together with the right 
to take possession of and remove such personal property, or to sell the same 
on the premises provided that such activity shall be completed and the 
personal property removed within thirty (30) days after such default as 
hereinabove provided.

    14.  SURRENDER OF LEASED PREMISES.  Lessee agrees to surrender the leased 
premises at the expiration or earlier termination of this Lease, or extension 
hereof, or any other holdover occupancy, in as good condition as when the 
leased premises were delivered to Lessee, ordinary wear, tear and damage or 
loss by the elements, fire, casualty, or any of the perils comprehended by 
the standard extended coverage insurance clause excepted.  All other damages 
must be paid for by Lessee.

    15.  HOLDOVER.  Should Lessee hold over the leased premises or any part 
thereof after the expiration of the term of this Lease, unless otherwise 
agreed in writing, such holding over shall constitute a tenancy from month to 
month only, and Lessee shall pay monthly rental equal to the monthly rental 
in effect immediately preceding the expiration of the preceding term hereof, 
payable in advance, but otherwise on the same terms and conditions as herein 

    16.  WAIVER OF COVENANTS.  It is agreed that the waiving of any of the 
covenants of this Lease by either party shall be limited to the particular 
instance and shall not be deemed to

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waive any other breaches of such covenant or any provision contained herein.

    17.  DEFAULT EXCEPT RENT.  If Lessee shall default in the fulfillment of 
any of the covenants and conditions hereof, except default in the payment of 
rent, Lessor may, at Lessor's option, after thirty (30) days prior written 
notice to Lessee, make performance for Lessee and, for that purpose, advance 
such amounts as may be necessary.  Any amounts so advanced, or any expense 
incurred or sum of money paid by Lessor by reason of the failure of Lessee to 
comply with any covenant, agreement, obligation, or provisions of this Lease 
or in defending any action to which Lessor may be subjected by reason of any 
such failure shall be deemed to be additional rental for the leased premises 
and shall be due and payable to Lessor on demand.  The acceptance by Lessor 
of any monthly installment of rental hereunder shall not be a waiver of any 
other rental hereunder then due.

    If Lessee shall default in fulfillment of any of the covenants or
conditions of this Lease (other than the covenants for the payment of rental 
or other amounts) and any such default shall continue for a period of thirty 
(30) days after written notice from Lessor to Lessee, the Lessor may, at 
Lessor's option, terminate this Lease by giving Lessee notice of such 
termination and, thereupon, this Lease shall expire as fully and completely 
as if that day were the date definitely fixed for the expiration

Page 12


of the term of this Lease, and Lessee shall then quit and surrender the 
leased premises, provided, however, if any such default requires more than 
thirty (30) days to remedy and Lessee is proceeding to cure such default, 
Lessor shall not be entitled to terminate this Lease on account of such 
default unless Lessee fails to commence curing such default promptly and/or 
fails to prosecute the curing of such default to completion diligently.

    18.  DEFAULT IN RENT; INSOLVENCY OF LESSEE.  If Lessee shall default in 
the payment of the rental reserved hereunder, or any part thereof, or in 
making any other payment herein provided for, and any such default shall 
continue for a period of fifteen (15) days after written notice from Lessor 
to Lessee, or if the leased premises or any part thereof shall be abandoned 
or vacated without payment of rent, or if Lessee shall be dispossessed by or 
under authority other than Lessor, if Lessee shall file a voluntary petition 
in bankruptcy, or if Lessee shall file any petition or institute any 
proceeding under any insolvency or Bankruptcy Act (or any amendment thereto 
hereafter made) seeking to effect a reorganization or a composition with 
Lessee's creditors, or if (in the proceedings based on the insolvency of 
Lessee or relating to bankruptcy proceedings) a receiver or trustee shall be 
appointed for Lessee or the leased premises, or if any proceedings shall be 
commenced for the reorganization of Lessee, or if the leasehold estate 
created hereby shall be taken on execution or by any process of law, or

Page 13


if Lessee shall admit in writing Lessee's inability to pay Lessee's 
obligations generally as they become due, then Lessor may, at Lessor's 
option, terminate this Lease, without further notice, and Lessor and Lessor's 
agents and servants may immediately, or at any time thereafter, re-enter the 
leased premises and remove all persons and property therefrom subject to 
rights of First Union National Bank or substitute lender of Lessee (by legal 
proceedings or by force or otherwise) without being liable to indictment, 
prosecution, or damage therefor, or without terminating this Lease to recover 
the leased premises as aforesaid and in that event Lessor agrees to use 
Lessor's best efforts to relet said premises on behalf of the Lessee at 
whatever rent, for a term that may be more or less than the expired portion 
of the within Lease, and upon such other terms, provisions and conditions as 
Lessor deem advisable, applying any moneys collected first to the payment of 
resuming or obtaining possession, and second to the payment of costs of 
placing the leased premises in rentable condition, third in the payment of 
any real estate commission incurred by Lessor in such reletting and fourth, 
for the payment of any rental or other charges due hereunder and any other 
charges due to Lessor.  Lessee shall remain liable for any deficiency in 
rental which shall be paid upon demand therefor to Lessor.

    19.  CONDEMNATION.  If the whole of the leased premises shall be taken or 
condemned in any eminent domain, condemnation

Page 14


or like proceeding by any competent authority for any public or quasi-public 
use or purpose (including, for the purposes of this Section, any voluntary 
conveyance in lieu of such proceeding), or if such portion thereof shall be 
taken or condemned as to make it unreasonable to use the remaining portion 
for the conduct of Lessee's business, then in any of such events, the term of 
this Lease shall cease and terminate as of the date of such taking or 
condemnation.  Any award of compensation shall be divided as the parties 
interest may appear.  Notwithstanding the earlier termination, the Lessee 
shall continue to pay the rent hereunder and to make all other payments 
required hereunder until such time as the Lessee vacates the leased premises 
or shall be required to surrender possession of the leased premises as a 
consequence of such taking or condemnation, but not thereafter.

    If only a part of the leased premises shall be taken or condemned and the 
taking or condemnation of such part does not make it unreasonable to use this 
remainder for the conduct of Lessee's business, this Lease shall not 
terminate.  In such event, the entire award shall belong to the Lessor and 
out of the award to the Lessor and subject to the prior rights of any 
Mortgagee, so much thereof as shall be reasonably necessary to repair any 
damage to the building and other improvements on the leased premises or to 
alter or modify them so as to render them a complete and satisfactory 
architectural unit (including parking facilities) shall be expended by Lessor 
for that purpose.  During

Page 15


the period of restoration and thereafter the rent hereunder shall be 
equitably reduced and abated in proportion to that portion of the leased 
premises of which the Lease shall be deprived on account of such taking or 

    In the event the parties are unable within a period of thirty (30) days 
after any controversy arises between them to agree upon (i) whether it is 
unreasonable for Lessee to use the remainder of the leased premises for the 
conduct of Lessee's business, or (ii) the reduction or abatement of rent to 
be made hereunder, then such dispute shall be resolved by arbitration in 
accordance with the then prevailing rules of the American Arbitration 
Association and the costs thereof shall be borne or apportioned and paid as 
determined by such arbitration.

    20.  FAILURE TO PERFORM COVENANT.  Any failure on the part of either 
party to this Lease to perform any obligation hereunder, and any delay in 
doing any act required hereby shall be excused if such failure or delay is 
caused by any strike, lockout, governmental restriction or any other similar 
cause beyond the control of the party so failing to perform, to the extent 
and for the period that such continues, save and except that the provisions 
of this Section shall not excuse a nonpayment of rental or other sums due 
hereunder on the due date thereof.

    21.  QUIET ENJOYMENT.  If and so long as Lessee pays the rentals reserved 
by this Lease and performs and observes all the covenants and provisions 
hereof to be performed and observed by

Page 16


Lessee, Lessee shall quietly enjoy the leased premises, subject, however, to 
the terms of this Lease, and Lessors will warrant and defend Lessee in the 
enjoyment and peaceful possession of the leased premises throughout the term 
of this Lease, including any extension hereof, or other holdover occupancy.

    22.  ACCESS TO LEASED PREMISES.  Lessor or Lessor's agents shall have the 
right to enter the leased premises at all reasonable times for the purpose of 
inspecting or examining the same and to make such repairs as Lessor shall 
deem necessary or as may be required to be made by Lessor.

    23.  RIGHT OF FIRST REFUSAL.  Lessee shall have the right of first 
refusal at any time during the initial term or any extended term of the Lease 
by matching a BONA FIDE contractual offer to purchase by a party unrelated to 
the owner within thirty (30) days of written notice.

    24.  OPTION TO EXTEND LEASE.  The Lessee shall have the option to extend 
the within Lease for two (2) additional five year periods.  The rent shall be 
adjusted at the beginning of each five year period to reflect the change in 
the Consumer Price Index.  Provided, however, no increase shall be greater 
than ten (10%) per cent of the base rent for the previous term.  In no event 
shall the rent be less than the amount of the base term.  Renewal terms shall 
be exercised by Lessee by delivery to Lessor of written notice of its 
intention to exercise such option no

Page 17


later than ninety (90) days prior to the termination of the term of the Lease 
then in effect.

     25.  RIGHTS OF SUCCESSORS AND ASSIGNS.  The covenants and agreements 
contained in the within Lease shall apply to, inure to the benefit of, and be 
binding upon the parties hereto and upon their respective successors in 
interest, except as expressly otherwise herein provided.

     26.  LEASE DOCUMENTARY STAMPS.  Lessee shall pay documentary stamps as 
required by South Carolina Law for the execution of this Lease.

     27.  ENTIRE AGREEMENT.  This Lease and the exhibit attached hereto set 
forth all the covenants, promises, agreements, conditions and understandings 
between Lessor and Lessee concerning the leased premises, and there are no 
covenants, promises, agreements, conditions, or understanding, either oral or 
written, between them other than as herein set forth. Except as herein 
otherwise provided, no subsequent alteration, amendment, change, or addition
to this Lease shall be binding upon Lessor or Lessee unless reduced to 
writing and signed by them. Lessee agrees that Lessor and Lessor's agents 
have made no representations or promises with respect to the leased premises 
or the building or the property which are a part thereof except as herein 
expressly set forth.

     28.  SECTION HEADING.  The section headings as to the contents of 
particular sections herein are inserted only for

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convenience and are in no way to be construed as part of such section or as a 
limitation on the scope of the particular section to which they refer.

     29.  GOVERNING LAW.  This Lease shall be governed by, construed, and 
enforced in accordance with the laws of the State of South Carolina.

     30.  GRAMMATICAL USAGE.  In construing this Lease, feminine or neuter 
pronouns shall be substituted for those masculine in form and vice versa, and 
plural terms shall be substituted for singular and singular for plural in any 
place in which the context so requires.

     IN WITNESS THEREOF, the parties hereto have caused these presents to be 
executed as of the day and year first above written.


/s/ [ILLEGIBLE SIGNATURE]                 /s/ C. E. Runion (LS)
-------------------------                 ---------------------------
                                               C. E. RUNION

Evelyn S. Parrish
As to Lessor

Page 19



                                        DOUBLE ENVELOPE CORPORATION
-------------------------                     -----------------------------

/s/ Ann P. Wright
As to Lessee

                         )                        PROBATE

          PERSONALLY appeared the undersigned witness and made oath that (s)he
saw the within named Lessor sign, seal and as his act and deed deliver the
within written Lease and that (s)he, with the other witness subscribed above,
witnessed the execution thereof.

SWORN to before me this

4th day of March, 1992.
---        -----

/s/ Evelyn S. Parrish  (LS)
Notary Public for South Carolina                  /s/ Eddie Runion

My Commission expires 9-24-1997

Page 20


                         )                        PROBATE

          PERSONALLY appeared before the undersigned witness and made oath 
that (s)he saw the within named Lessee sign, seal and as its act and deed 
deliver the within written Lease and that (s)he, with the other witness 
subscribed above, witnessed the execution thereof.

SWORN to before me this

4th day of March, 1992.
---        -----

/s/ Ann P. Wright             (LS)
Notary Public for Virginia                       /s/ [ILLEGIBLE SIGNATURE]

My Commission expires 5/11/92


                                      EXHIBIT A

ALL that certain piece, parcel or tract of land with improvements thereon, 
situate, lying and being in the County of Greenville, State of South 
Carolina, at the intersection of U.S. Highway #25 and Hawkins Road, 
containing 3.46 acres, more or less, and having, according to a plat entitled 
"Eddie Runion", dated May 20, 1987, prepared by W.R. Williams, Jr., 
Engineer/Surveyor, the following metes and bounds, to-wit:

BEGINNING at an iron pin located at the intersection of Hawkins Road and U.S. 
Highway #25 and running thence with the eastern side of U.S. Highway #25, 
N.0-31 E. 77.11 feet to an iron pin, N.5-19 E. 99.99 feet to an iron pin, 
N.8-07 E. 99.98 feet to an iron pin, N.11-38 E. 100.08 feet to an iron pin, 
N.14-15 E. 91.67 feet to an iron pin; thence turning and running with the 
joint line of subject property and property now or formerly of Montgomery, S. 
62-51 E. 659.75 feet to an iron pin located on the northern side of Hawkins 
Road; thence running with the northern side of the right of way of Hawkins 
Road, S.76-08 W. 673.57 feet to the point of beginning.

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