Delaware General Assembly


CHAPTER 470

FORMERLY

HOUSE BILL NO. 1062

AN ACT TO AUTHORIZE AND APPROVE THE LEASING OF .6998 ACRES OF UNIMPROVED LAND ON U.S. ROUTE 113 IN DOVER TO THE DELAWARE STATE EMPLOYEES FEDERAL CREDIT UNION, A COOPERATIVE ASSOCIATION ORGANIZED UNDER THE LAWS OF THE UNITED STATES OF AMERICA.

WHEREAS, the State of Delaware owns .6998 acres of unimproved land lying on the westerly side of U.S. Route 113, but not adjacent thereto, at the site of the Delaware Department of Highways and Transportation Administration Center, Dover, Delaware; and

WHEREAS, it has been determined by the State that there is a need for a cooperative type credit union to serve employees of the State of Delaware in the City of Dover and Kent County area; and

WHEREAS, Delaware State Employees Federal Credit Union, a cooperative association, is in serious need of new, expanded facilities to better serve the employees of the State of Delaware; and

WHEREAS, Delaware State Employees Federal Credit Union, a cooperative association, has offered to construct and operate a cooperative credit union at the site of the Department of Highways and Transportation Administration Center for the use and benefit of employees of the State of Delaware; and

WHEREAS, the State of Delaware, through the Department of Administrative Services, has agreed to lease .6998 acres of unimproved land at the site of the Delaware Department of Highways and Transportation Administration Center in Dover, Delaware, to the Delaware State Employees Federal Credit Union for a period of ninety-nine years, for nominal consideration, upon condition that the land and any building erected thereon be used as a cooperative credit union and upon further conditions as hereinafter set forth; and

WHEREAS, it is the purpose of this Act to approve the leasing of the .6998 acres of unimproved land at the site of the Department of Highways and Transportation Administration Center on U.S. Route 113 in the City of Dover to the Delaware State Employees Federal Credit Union upon the conditions hereinafter described and to authorize the Department of Administrative Services to enter into a lease agreement with said Credit Union.

NOW, THEREFORE:

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE:

Section 1. The leasing of the State real property, located on the westerly side of U.S. Route 113 at the site of the Department of Highways and Transportation Administration Center in the City of Dover,

and rights of ingress, egress and regress for employees and clients of the Delaware State Employees Federal Credit Union across other State real property from U.S. Route 113 to the subject real property, to the Delaware State Employees Federal Credit Union, a cooperative association organized under the laws of the United States of America, for the consideration of one dollar ($1.00), subject to the conditions hereinafter recited, is hereby approved.

Section 2. The above described real property is to be leased to the Delaware State Employees Federal Credit Union, a cooperative association (hereinafter referred to as "Tenant") upon the following conditions:

1. The term of the lease shall be for a period of ninety-nine (99) years;

2. Tenant shall use the leased premises and any buildings erected thereon by the tenant as a cooperative credit union, and when it is no longer used for such purpose the lease shall terminate, become null and void and possession of said leased premises and any improvements thereon shall revert to the State of Delaware;

3. Tenant shall erect a building suitable for its purposes on the leased premises, provided that the Department of Administrative Services shall first approve the design of any such building in writing, and further provided that any such building shall be constructed in compliance with the applicable building codes for such a structure;

4. Tenant, during the entire period that the lease is in force and effect, shall be responsible for all maintenance expenses, repair expenses, insurance expenses and any and all such expenses related to the operation of the leased premises and the State shall not have any responsibility in connection therewith;

5. Tenant, during the entire period that the lease is in force and effect, shall have the right to make alterations and/or modifications and/or improvements to the leased premises at its own expense provided that no such alterations and/or modifications and/or improvements shall be made unless the same shall be approved in writing by the Department of Administrative Services; and

6. The lease shall contain such other provisions or conditions as the Department of Administrative Services shall deem necessary to protect the State from liability or damages arising out of the use of the leased premises by Tenant.

Section 3. The Department of Administrative Services is hereby authorized and empowered to execute a written lease agreement with the Delaware State Employees Federal Credit Union, wherein and whereby the above described real property should be leased to said Credit Union for the term and upon the conditions hereinabove recited.

Approved July 11, 1978.