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�"�" •"' '. TO THE CLERK'S <br /> PERMPr 5Ig10 <br /> THIS LEASE DOES NOT BECOME EFFECTIVE UNTIL EXECUTED <br /> BY THE NORTH CAROLINA DEPARTMENT OF ADMINISTRATION <br /> STATE OF NORTH CAROLINA <br /> LEASE AGREEMENT <br /> M COUNTY OF ORANGE <br /> IS LEASE AGREEMENT, made and entered into this th �ay of <br /> 2002, by and between COUNTY OF <br /> OR469GE, hereinafter designated as Lessor, and the STATE OF NORTH <br /> CAROLINA,hereinafter designated as Lessee, <br /> WITNESSETH: <br /> THAT WHEREAS, authority to approve and execute this lease agreement <br /> E was delegated to the Department of Administration by resolution adopted by <br /> the Governor and Council of State on the 1st day of September, 1981; and as <br /> amended on September 8th, 1999, and <br /> WHEREAS, the parties hereto have mutually agreed to the terms of this <br /> lease agreement as hereinafter set out, <br /> NOW THEREFORE,in consideration of the rental hereinafter agreed to be <br /> paid and the terms and conditions hereinafter set forth, Lessor does hereby let <br /> and lease unto Lessee and Lessee hereby takes and leases from Lessor for and <br /> during the period of time and subject to the terms and conditions hereinafter set <br /> out certain space in the Town of Carrboro, County of Orange, North Carolina, <br /> more particularly described as follows: <br /> Being ± 11236 net square feet of office space located at 103 Laurel Avenue, <br /> Carrboro,Orange County,North Carolina <br /> (DEPARTMENT OF CORRECTION) <br /> THE TERMS AND CONDITIONS OF THIS LEASE AGREEMENT ARE <br /> AS FOLLOWS: <br /> 1. The term of this lease shall be for a period of Three (3) Years <br /> commencing on the 1st day of July, 2002, or, as. soon thereafter as the leased <br /> premises are ceded to the Lessee and terminating on the 30tht day of June, 2005. <br /> 2. The Lessee shall pay to the Lessor as rental for said premises the sum <br /> of $18,456.00 Dollars per annum, which sum shall be paid in equal monthly <br /> installments of $1,538.00 Dollars, said rental to be payable within fifteen (15) <br /> days from receipt of invoice in triplicate. <br /> The Lessee agrees to pay the aforesaid rental to Lessor at the address <br /> specified, or, to such other address as the Lessor may designate by a notice in <br /> writing at least fifteen(15) days prior to the due date. <br /> Lease 2002-2005--Probation @Moodynax <br />