2010-124 AMS - State of North Carolina - Lease Agreement for 503 W. Franklin St.

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<< - --Please return this copy to ~~ ~ ~ " ~~ Clerk to the Board's office for PAF THIS LEASE DOES NOT BECOME EFFECTIVE UNTIL EXECUTED BY THE NORTH CAROLINA DEPARTMENT OF ADMINISTRATION STATE OF NORTH CAROLINA LEASE AGREEMENT COUNTY OF ORANGE THIS LEASE AGREEMENT, made and entered into this ~tt~a X999, by and between, COUNTY OF ORANGE, hereinafter designated essor, and the STATE OF NORTH CAROLINA, hereinafter designated as Lessee; WITNESSETH: THAT WHEREAS, authority to approve and execute this lease agreement was delegated to the Department of Administration by resolution adopted by the Governor and Council of State on the 1st day of September, 1981 and as amended on December 2aa~ 1999, and WHEREAS, the parties hereto have mutually agreed to the terms of this lease agreement as hereinafter set out, NOW THEREFORE, in consideration of the rental hereinafter agreed to be paid and the terms and conditions hereinafter set forth, Lessor does hereby let and lease unto Lessee and Lessee hereby takes and leases from Lessor for and during the period of time. and subject to the terms and conditions hereinafter set out certain space in the Town of Chapel Hill, County of Orange, North Carolina, more particularly described as follows: Being f 434 net square feet of office space located at 503 W. Franklin Street, Chapel Hill, Orange County, North Carolina THE TERMS AND CONDITIONS OF THIS LEASE AGREEMENT ARE AS FOLLOWS: 1. The term of this lease shall be for a period of One (1) Year commencing on the 1 ~` day of August, 2009, or as soon thereafter as the leased premises are ceded to the Lessee and terminating on the 31~` day of July, 2010. 2. The Lessee shall pay to the Lessor as rental for said premises the sum of $6,510.00 Dollars for per annum, which sum shall be paid in equal montly installments of $542.50 said rental to be payable within fifteen (15) days from receipt of invoice in triplicate. The Lessee agrees to pay the aforesaid rental to Lessor at the address specified, or, to such other address as the Lessor may designate by a notice in writing at least fifteen (15) days prior to the due date. 3.The Lessor shall furnish to the Lessee, during the occupancy of said premises, under the terms of this lease, as part of the rental consideration, the following: adequate heating facilities and air conditioning facilities satisfactory to the Lessee; adequate fire extinguishers; necessary lighting (fluorescent) fixtures with bulbs, tubes, starters, and the I ~ day of