1999 S Purchasing - Moody Building - Exercise of Option to Renew by Probation and Parole

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