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BOOK PAGE <br />_. 2831 319 <br />_ <br />. ~ by Lessor described in the deed at Book ~/, Page ~~5~, Orange`"County Registry; ninning <br />thence from said beginning point ~S 85° 52' E 121.5' fo a nail, the northeast corner of the <br />property of Lessor described in the deed recorded at Book ~, Page ~/3, Orange County <br />Registry; thence S 04° 08' W 19.25' to a nail; thence N 8~° 52' W 121.5' to a"V" Mark <br />on Concrete Sidewalk; thence N 4° 08' E 20.75' to the place and poi,nt of beginning <br />according to plat of survey entitled "COUNTY OF ORANGE, NORTH CAROLINA," <br />dated July 29, 2002 by MICHAEL A. NEAL & ASSOCIATES, which plat is recorded at <br />Plat Book ~, Page ~S ; Orange County Registry. <br />To have and to hold the lease premises together with all privileges and appurtenances <br />thereunto belon~ing, to Lessee subject to the terms and conditions hereinafter set forth: <br />1. This lease shall become effective and possession of the leased premises <br />surrendered to Lessee commencing on October 7, 2002 and unless sooner terminated as herein <br />provided shall exist and continue for a term of ten (10) years. Grantee shall have an option to <br />renew this lease for additional terms of five (5) years so long as Lessor does not notify Lessee <br />before the expiration of the lease teirn or any renewal term of Lessor's intent to use the leased <br />premises inconsistent with this lease. Lessee shall provide notice to Lessor of its intent to renew <br />this lease and Lessor shall provide notice to Lessee of its intended use incompatible with this <br />lease as described in the paragraph titled Notices. Lessor's determination of its intent to use the <br />leased premises inconsistent with this lease shall be made by Lessor in its sole and absolute <br />discretion. <br />2. Notices: For the purpose of notice or demand, the respective parties shall be <br />served by certified or registered mail, return receipt requested, addressed to Lessee or Lessor at <br />their respective office address, as set forth herein: <br />To Lessor: Orange County, North Carolina <br />Department of Purchasing and Central Services <br />Post Office Box 8181 <br />Hillsborough, NC 27278 <br />To Lessee: National Bank of Commerce <br />c/o Mr. Ronald W. Perkins, RPA <br />2 <br />