Agenda - 05-06-1998 - 9h - Laserfiche WebLink

Browse Search

~~ fl Q~ ~; CARR MZLL OFFICE COMPEER LEASE NORTH CAROLINA ORANGE COUNTY THIS LEASE AGREEMENT made and entered into as of the 4th day of October 19 85 by and between J.W. FRENCH AND PATRICIA ANN FRENCH, d.b.a. CARE MILL, having its principal office in Charlotte, North Carolina, hereinafter referred to as the Lessor, and ORANGE COUNTY HEALTH SERVICES hereinafter referred to as the Lessee, of Orange County W 2 T N E S SETH In consideration of the rents to be paid to the Lessor bq the Lessee, a• hereinafter provided, and of the covenants and agreements upon the part of the Lessor and the Lessee to be kept and performed, the Lessor hereby demises and leases to the Lessee, and the Lessee leases and takes from the Lessor the premises measuring 5580 square feet, as shown on the Floor Place attached hereto ae Ezhibit A and by references made a part hereof, (herein called the Leased Premises) located on the 2nd floor of that cer- tain building known as Carr Mill Building (the Building), which Building is situated at the corner of Weaver and Greensboro Streets in the City of Carrboro, Orange County, North Carolina on the property shown ae Exhibit B attached hereto to be occupied and used as health service provider and for no other purposes; upon the terms and condi- tions herein set forth, together with the nonexclusive right to use all cossaon areas of the building including but not limited to stairways, halls, elevators, restroos and parking facilities common areas. * 1. Tars of Lease: The term hereof shall commence on the 1st day of November 19 85 and shall end at 12:00 midnight on the 31st day of October ,: 19 88 Lessee shall have two options to eztsnd the term for two years for each option, said options to run conse- cutively. Lessee shall ezereise the first option by written notice to Lessor given within ninety days of the ezpiration of the term and the second option by written notice to Lessor given within ninety days of the expira- tion of the first option term. _Lessor to have option to relocate Lessee into cosparable space in event Leeaee options to renew lease at expiration of the tern, 2. Rental. ,~,~~~ ~{~ Lessee shall pay to Lessor the sum of fifty-four thousand four ~~' hundred ~ 00/100 Dollars ($ 54,405.00 ) per annum (hereinafter aoa-etimea referred to as the "Annual Base Rent") payable in monthly install- ments of forty-five hundred thirty-three & 75/100 Dollars ($ 4,533.75) each due on the first day of each month, in advance, during the term of this Lease, ezcept that payment for the first such monthly installment shall be made by Lassen to Lessor simultaneously with the execution of this Lease. (b) For each lease year of the lease term commencing with the second lease year, Lessee shall also pay to Lessor as additional rent along with the Annual Base Rent a sum equal to the decrease, if any, in the pur- chasing power of the amount of the Annual Base Rent since the commencement date of the lease term. The amount of any such decrease, the amount of the ~~