Orange County NC Website
parking spaces located in the Parking Deck as identified on the attached EXHIBIT B (the <br />"Parking Spaces"); and <br />WHEREAS, the parties desire to record this Memorandum for the purpose of providing <br />record notice of the existence of the Lease and certain of the terms contained therein. <br />NOW, THEREFORE, for and in consideration of the terms, covenants and conditions <br />set forth in the Lease and other good and valuable consideration, the receipt and sufficiency of <br />which are hereby acknowledged, Lessor and Lessee hereby acknowledge and declare as follows: <br />1. Pursuant to the terms of the Lease, Lessor has leased the Parking Spaces to Lessee <br />and Lessee has leased the Parking Spaces from Lessor, for a term commencing on February 25, <br />2009 and expiring at 11:59:59 p.m. (local time) on December 31, 2049, with automatic annual <br />renewals thereafter unless and until the Lease is sooner terminated by either parry as provided in <br />the Lease. <br />2. Pursuant to the terms of the Lease, Lessor has granted to Lessee a right of first <br />offer to purchase the Property and a right of first refusal to purchase the Property. Both the right <br />of first offer to purchase and the right of first refusal to purchase are exercisable by Lessee, as <br />expressly provided for in the Lease, until the termination of the Lease. <br />3. All of the terms, covenants and conditions contained in the Lease are incorporated <br />herein by reference. <br />IN WITNESS WHEREOF, the parties have caused this Memorandum to be duly <br />executed effective as of the day and year first above written. <br />[SIGNATURES BEGIN ON NEXT PAGE] <br />2 <br />