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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 /> COUNTY OF ORANGE <br /> SE AGRYMMENT, made and entered into this the of <br /> 2000, by and between CO TY OF <br /> RANGE, reinaft designated as Lessor, and the STATE OF NORTH <br /> CAROLIN , hereinafter designated as Lessee; <br /> WITNESSETH: <br /> THAT WHEREAS, authority to approve and execute this lease agreement was <br /> delegated to the Department of Administration by resolution adopted by the Governor <br /> and Council of State on the 1st day of September, 1981; and as amended on December <br /> 71`, 1999, and <br /> WHEREAS, the parties hereto have mutually agreed to the terms of this lease <br /> agreement as hereinafter set out, <br /> NOW THEREFORE, in consideration of the rental hereinafter agreed to be paid <br /> and the terms and conditions hereinafter set forth, Lessor does hereby let and lease unto <br /> Lessee and Lessee hereby takes and leases from Lessor for and during the period of <br /> time and subject to the teams and conditions hereinafter set out certain space in the City <br /> of Carrboro, County of Orange, North Carolina, more particularly described as <br /> follows: <br /> Being t 1,236 net square feet of office space located at 103 Laurel Avenue, <br /> Carrboro, Orange County, North Carolina <br /> (DEPARTMENT OF CORRECTION - Probation/Parole) <br /> THE TERMS AND CONDITIONS OF THIS LEASE AGREEMENT ARE AS <br /> FOLLOWS: <br /> 1. The term of this lease shall be for a period of Two (2) Years commencing <br /> on the Ist day of July, 2000, or as soon thereafter as the leased premises are ceded to <br /> the Lessee and terminating on the 30'day of June, 2002. <br /> 2. The Lessee shall pay to the Lessor as rental for said premises the sum of <br /> $18,456.00 Dollars per annum, which sum shall be paid in equal monthly installments <br /> of$1,538.00 Dollars, said rental to be payable within fifteen (15) days from receipt of <br /> invoice in triplicate. <br /> The Lessee agrees to pay the aforesaid rental to Lessor at the address specified, <br /> or, to such other address as the Lessor may designate by a notice in writin_g.at least, <br /> fifteen (15) days prior to the due date. <br /> u li- <br /> JJ, FJ. i <br />