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NORTH CAROLINA <br />ORANGE COUNTY <br />LEASE <br />This lease agreement, dated the seventeenth day of August, 1999, by and between Orange County, <br />North Carolina, hereinafter called the `County" and the Alliance for Historic Hillsborough, Inc. <br />hereinafter called the "Alliance". <br />WITNESSETH: <br />The County hereby leases to the Alliance and the Alliance hereby leases from the County the following <br />described property, hereinafter called the "premises". <br />1. PREMISES <br />The Alexander Dickson House, approximately 2,713 square feet in size, and its lot, 150 East King <br />Street, Hillsborough, together with the outbuildings situated thereon, one of which is known as "the office" <br />and the other of which contains restrooms, all of the property being herein referred to as "the premises". <br />2. TERM OF LEASE <br />The term shall commence on the first of August, 1999 and shall end on the 30th day of June, <br />2003, on the terms and conditions set forth herein. <br />3. RENT <br />Rent for the premises shall be assessed at $32,556 per year, of which $29,796 shall be <br />considered in-kind support of the Visitor's Center efforts to enhance tourism in Orange County. <br />The Alliance agrees to pay the County cash rent in the amount of $2760 per year; payable $230 per <br />month payment due and payable, in advance, on the first day of each and every month. Rent shall be <br />paid to the County at such location as is designated by the County in writing to the Alliance. <br />4. USE OF PREMISES <br />The Alliance shall use the premises for the purpose of operating the Orange County Visitors' <br />Center ("the Center"). The Alliance may grant subleases to others engaged in work that is <br />complementary to the operation of the Center under the stipulations set forth in paragraph 6 of this lease. <br />5. NOTICES <br />For the purpose of notice or demand, the respective parties shall be personally delivered or <br />served by certified or registered mail, return receipt requested, addressed to County or Alliance at their <br />respective office address, as set forth herein: <br />TO COUNTY: Orange County <br />Director of Purchasing and Central <br />Services <br />PO Box 8181 <br />Hillsborough, NC 27278 <br />TO ALLIANCE: Alliance for Historic Hillsborough <br />Executive Director <br />150 East King Street <br />Hillsborough, NC 27278 <br />