Orange County NC Website
61 <br />(c) The Tenant agrees to pay the County without demand at its office, or at such <br />other place or places as County may from time to time designate in writing, the sum of $1.00 for <br />the five year lease term on or before the fifteenth day of the lease term. Tenant acknowledges <br />this rental rate is discounted in an effort to assist Tenant in providing a public benefit that being <br />adult day care and services and that any renewal of this Lease shall be subject to an increased <br />rental rate as determined by County. Tenant acknowledges that the Tenant's first priority for the <br />Adult Day Health Center is to provide services to Orange County residents. <br />(d) Upon mutual agreement this Lease may be renewed for one five -year term. The <br />Parties acknowledge that any such renewal may involve renegotiation of the rental rate reflected <br />in Paragraph 3(b) and utility payment reflected in Paragraph 13. Should either Party hereto <br />determine it is in its best interest not to renew this Lease such Party shall notify the other Party <br />in writing not less than nine (9) months prior to the expiration of the initial term of this Lease. <br />4. Holdover. If the Tenant shall remain in possession of the Leased Premises <br />after the expiration of the original or renewal period as set out above, such possession shall be <br />as a month -to -month tenant. During such holdover month -to -month tenancy Tenant shall pay <br />rent at the fair market rental value. <br />5. Insurance. The County shall keep in force insurance to provide for property <br />damage to the building for replacement cost purposes. Provided, however, Tenant shall be <br />responsible for and pay to County any increase in County's insurance premium occasioned by <br />the nature of the Tenant's business. <br />The Tenant shall maintain fire and casualty insurance covering the Tenant's fixtures, <br />equipment and other property located in the Leased Premises. <br />Tenant shall keep the Leased Premises insured, at its sole cost and expense, <br />against claims for personal injury or property damage under a policy of general public liability <br />insurance, with limits of at least $1,000,000 for bodily injury and $100,000 for property damage. <br />Such policies shall name the County as additional named insured under the policy. <br />Tenant shall additionally insure the Leased Premises, at its sole cost and expense, <br />against claims for personal injury or property damage under a food and/or beverage preparation <br />and/or distribution or other relevant liability insurance policy with appropriate limits for bodily <br />injury, sickness, or death. Such policy shall name the County as additional named insured <br />under the policy. <br />The Tenant shall provide the County certificates of such insurance at or prior to the <br />commencement of the term of this lease, and thereafter within ten (10) days prior to the <br />expiration of such policies. Such policies shall provide that the same may not be canceled <br />without at least ten (10) days prior written notice to County. <br />0. Rental Adjustment. In addition to the base rental, the Tenant shall assume <br />and pay any additional fire insurance premium, hazard insurance premium, or other extended <br />coverage insurance premium required as a result of any particular operation or use of said <br />premises over and above the insurance premium required to be paid by County in the absence <br />of said operation or use. <br />7. Signs. The Tenant will place and maintain in and about the Leased Premises <br />at appropriately designated places, such neat and appropriate signs advertising the Tenant as <br />Page 2of12 <br />