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IN THE MATTER OF HOME DEPOT U.S.A., INC.

55 A.D.3d 1111 (2008)

In the Matter of HOME DEPOT U.S.A., INC., et al., Respondents-Appellants, v. NEW YORK STATE PUBLIC SERVICE COMMISSION et al., Appellants-Respondents.

Appellate Division of the Supreme Court of the State of New York, Third Department.

October 23, 2008.

In October 2000, petitioner Home Depot U.S.A., Inc. and developer Emgee Highlands Corporation entered into, among other things, a development agreement and a ground lease with option to purchase, both of which were connected to the development of a shopping center in the Town of Southeast, Putnam County. Pursuant to the lease agreement, Home Depot agreed to pay Emgee $1,680,000 to lease the premises for 99 years (with options to extend the lease for a total of 400 more years...

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