1998 NS Lease Agreement - Lease Renewal - Space Reallocation for Court Offices at Carr Mill Mall and Moody Building

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L T STATE OF NORTH CAROLINA COUNTY OF ORANGE LEASE AGREEMENT RENEWAL THIS LEASE AGREEMENT RENEWAL made on the 8th day of May, 1998 by and between CARR MILL MALL LIMITED PARTNERSHIP, a North Carolina Limited Partnership, 280 N. Greensboro Street., Suite D-11, Carrboro, NC 27510 having its principal business in Orange County, North Carolina, hereinafter referred to as "Owner" and ORANGE COUNTY, a politic subdivision of the State of North Carolina, Post Office Box 8181, Hillsborough, North Carolina, hereinafter referred to as "County". WITNESSETH: WHEREAS, a lease agreement was made and entered into as of the 4th day of October, 1985, a copy of which is attached as Exhibit A, between J.W. and Patricia Ann French, dlbla Carr Mill Mall and County; WHEREAS, County and Owner desire to renew the lease agreement and amend it; NOW THEREFORE, County and Owner mutually agree to the following: -- 1. The Exhibit A lease agreement is renewed for a period commencing on July 1, 1998 and continuing through June 38, 2883; 2. Section 2(a) of Exhibit A shall be modified to read: County shall pay to the Owner as follows: Base rent: Monthly Annually July 1, 1998--June 30, 1999 $7,228.83 $88,758.98 July 1 each year through Rent will increase by the June 38, 2883 change in the Consumer Price Index (CPI) using as the month of July as a basis for calculation. Rent is due and payable on the first day of each month, in advance, during the term of this Lease. 3. improvements which have been agreed to by the Owner and the County and pursuant to Attachment 1 of this Lease Agreement Renewal shall be accomplished prior to June 15, 1998. 4. All other terms and conditions of Exhibit A shall remain the same.