Orange County NC Website
18 <br />12. CONDITIONS. <br />a. This lease will become binding only if al! of the following conditions are met: <br />i. The lease is approved by both the County Commissioners and LGC. <br />ii. Landlord obtains a certificate of occupancy for the building shell by no later than <br />August 1, 2013. <br />iii. Landlord provides Tenant with final terms & specifications and either: <br />1. Tenant determines the plans & specifications will meet its needs, or <br />2. Tenant gives written notice to landlord within 30 days that the plans & <br />specifications will not meet its needs and landlord corrects any <br />deficiencies before the lease commencement date. <br />iv. Landlord gives Tenant the opportunity to inspect the premises within 15 days <br />after substantial completion, and either: <br />1. Tenant determines that the premises appear to be safe, or <br />2. Tenant provides written notice within 5 days of the inspection that the <br />premises appear unsafe, and Landlord corrects any deficiencies before <br />the lease commencement date <br />v. Landlord gives Tenant the opportunity to inspect the premises within 15 days <br />after final completion, and either: <br />1. Tenant determines that the premises were built in compliance with the <br />terms & specifications, or <br />2. Tenant provides written notice within 5 days of the inspection that the <br />premises were not built incompliance with the terms and <br />specifications, and Landlord corrects any deficiencies before the lease <br />commencement date <br />13. NON-APPROPRIATION. <br />a. Tenant may terminate the lease if Tenant is not appropriated funds to fulfill its lease <br />obligations for a subsequent fiscal year. This is not considered breach by Tenant. <br />b. Termination would become effective on the last day of the current fiscal year. <br />14. OTHER TERMS. <br />a. All other provisions are either standard commercial lease terms or have been <br />negotiated to be slightly more favorable to the school system. <br />15. APPROVALS REQUIRED. <br />a. Because of the term and dollar value, this lease must be approved by the BOE, the <br />County Commissioners, and the LGC. <br />b. If any approval is not obtained, the lease will not become binding on either parry <br />because of conditions built into the lease. <br />