Specifications include, but are not limited to: A certain piece of property, located about 26 miles below the City of Thibodaux, on the right descending bank of Bayou Lafourche, in the Town of Lockport, Section 18, T-16-S, R-19-E, Lafourche Parish, Louisiana. Said Property being bounded by Canal Street on the South, La. Hwy. No. 1 on the West, the Company Canal on the North, and Bayou Lafourche on the East. All this property falls within the right-of-way of the Company Canal from Sta. #407 + 69.7 (ROW of La. 1) to Sta. #428 + 24.9 (edge of Bayou Lafourche). The term of said lease shall not exceed five (5) years, and the annual rental shall be paid annually in advance. The lease may be extended for additional five (5) years, in accordance with La. R.S.41:1217. In connection with this prospective extension, an annual increase of the rental based on increases in the Consumer Price Index or at some fixed percentage.
