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KAUDER, KLOTZ, & VENITT v. ROSE'S STORES, INC.

Civ. No. 944.

359 F.Supp. 1280 (1973)

KAUDER, KLOTZ, & VENITT, Plaintiff, v. ROSE'S STORES, INC., Defendant.

United States District Court, E. D. North Carolina, New Bern Division.

June 20, 1973.

Attorney(s) appearing for the Case

Laurence A. Stith, of Barden, Stith, McCotter & Stith, New Bern, N. C., for plaintiff.

Charles F. Blackburn, of Perry, Kittrell, Blackburn & Blackburn, Henderson, N. C., David L. Ward, Jr., of Ward, Tucker, Ward & Smith, New Bern, N. C., for defendant.

MEMORANDUM OPINION AND ORDER

LARKINS, District Judge:

On June 3, 1953, defendant Rose's entered into a 25 year lease agreement with Marion Investment Company for four lots and a building in Morehead City, North Carolina. In 1961 plaintiff acquired the property subject to the original lease. The lease provides for a $15,000 per year minimum guaranteed rental which covered the 15,000 square foot building. In addition the lease provides for a 5% of gross sales...

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