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ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: September 8, 2011 <br />Action Agenda <br />Item No. 5 -_C~ _ <br />SUBJECT: Easements Pertaining to County Owned Real Property at 112 and 118 North <br />Churton Street <br />DEPARTMENT: Asset Management Services <br />(AMS), Financial Services, <br />County Attorney <br />ATTACHMENT(S): <br />A. SunTrust Easement Lease <br />B. SunTrust Plat and Aerial Photo <br />C. General Warranty Deed <br />PUBLIC HEARING: (YIN) No <br />INFORMATION CONTACT: <br />Pam Jones, AMS, (919) 245-2652 <br />David Cannell, Financial Services, <br />(919) 245-2651 <br />Sahana Ayer, Staff Attorney, <br />(919) 245-2319 <br />PURPOSE: To consider granting an easement between Orange County and SunTrust Bank as <br />well as an easement pertaining to the properties at 112 and 118 N. Churton Street. <br />BACKGROUND: SunTrust Bank currently has a lease (attachment A) that provides egress and <br />ingress over County property to access some of its parking spaces. This lease is due to expire <br />in 2012. SunTrust has approached the County about granting a permanent easement. In <br />exchange for the easements, SunTrust would deed two parking spaces on the southernmost <br />part of its property near Farm Credit. These two spaces would be associated with 118 North <br />Churton Street. Below are the anticipated terms of the deed of easement. <br />• Terminate the lease of right of way easement between Orange County and National <br />Commerce Financial Corporation (formerly National Commerce Bancorporation, d/b/a <br />National Bank of Commerce and Central Carolina Bank and Trust Company, Inc.) <br />• Grant an easement to SunTrust Bank, Inc. <br />• Grant a 20 foot non -exclusive right of way easement for ingress and egress from North <br />Churton Street, Hillsborough, NC over, upon and through the property of Orange County <br />• Reassign the parking easement across the two southern parking spaces currently owned <br />by SunTrust to the Graham Building. (Pursuant to the general warranty deed from <br />National Commerce Financial Corporation to the County, the easement across the <br />parking spaces has been conveyed to the County for the use of County employees or <br />patrons.) <br />• Obtain easements for two additional parking spaces for the Graham building. <br />