21 Guam Code Ann. § 681302
Terms Used In 21 Guam Code Ann. § 681302
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Statute: A law passed by a legislature.
Foundation, a Guam Non-Stock, Non-Profit Corporation (ALessee@), for One
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CH. 68 USE & DEVELOPMENT OF GOVERNMENT REAL PROPERTY
Dollar ($1.00) per year, the parcel of land identified in this Section for the purpose of establishing a memorial of the Manenggon Concentration Camps of World War II under the following conditions:
(a) The parcel is identified as Lot No. 208, in the Municipality of Yona, containing an area of 1,076,578″ square feet or 100,018″ square meters as shown on Land Management Drawing Number 14-91T658, LM checked No. 050FY2000, recorded under Document Number
616596;
(b) The parcel was deeded to the government of Guam by Mr. Dwight Look in a Quitclaim Deed signed on July 8, 1998, and filed at the Department of Land Management on September 8, 1998, for the specific purpose contained in Quitclaim Deed Instrument Number
590177, to establish a memorial of the Manenggon Concentration
Camps of World War II;
(c) The Lessee, a Guam Non-Stock, Non-Profit Corporation filed under Charter Number D-13814 with the Department of Revenue and Taxation, government of Guam, on September 6, 2001, shall utilize the property solely for the purpose contained in the Quitclaim Deed Instrument Number 590177;
(d) The Lease shall contain, at a minimum, the following terms: (1) The period of the Lease shall be for Twenty (20) years
with an option to renew three (3) times for another twenty (20)
years each;
(2) The rate shall be One Dollar ($1.00) per year, payable on the date of the original execution of the Lease and on each anniversary of that date for the term of the Lease;
(3) The Lease, or any portion of the property covered thereby, shall not be sold, mortgaged, assigned, sublet, hypothecated or otherwise transferred without the consent of I Maga=lahen Guåhan and I Liheslatura by statute, and any attempted alienation of any interest in the Lease, or property covered thereby, without such prior consent shall be void;
(4) Any change in the tax status of the Lessee shall require an immediate renegotiation of the rate of the Lease. If such change shall be to a For-Profit entity, the rate of the Lease shall be no less
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than fifty percent (50%) of the actual Lease market value of the property.
(e) The Attorney General of Guam shall incorporate the provisions of this Article in the final Lease Agreement between the government of Guam and the Lessee in such a manner as to facilitate enforcement thereof. I Maga=lahen Guåhan [the Governor] shall execute all necessary documents to effectuate such Lease.
SOURCE: Added by P.L. 27-97:1 (June 25, 2004) as § 69051, codified to this section pursuant to the authority granted by 1 Guam Code Ann. § 1606.
2013 NOTE: Pursuant to the authority granted by 1 Guam Code Ann. § 1606, numbers in subsection (d) were altered to adhere to the Compiler’s alpha-numeric scheme.
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ARTICLE 14
RETURN OF UNUSED PROPERTIES
SOURCE: New Article added as §§ 6814101-6814107 by P.L. 29-151:1 (Jan.
30, 2009). Renumbered by Compiler to harmoniously fit this chapter.