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1998 NS Lease Agreement - Lease Renewal - Space Reallocation for Court Offices at Carr Mill Mall and Moody Building
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1998 NS Lease Agreement - Lease Renewal - Space Reallocation for Court Offices at Carr Mill Mall and Moody Building
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Last modified
6/11/2013 10:08:57 AM
Creation date
6/11/2013 10:08:10 AM
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BOCC
Date
5/6/1998
Meeting Type
Budget Sessions
Document Type
Contract
Agenda Item
9h
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i <br /> ?-0-0 OAK ; <br /> CARR MILL <br /> OFFICE COMPLEX <br /> LEASE <br /> NORTH CAROLINA <br /> ORANGE COUNTY <br /> THIS LEASE AGREEMENT made and entered into as of the 4th day of <br /> October , 19 85 by and between J.W. FRENCH AND PATRICIA ANN <br /> FRENCH, d.b.a. CARR MILL, having its principal office in Charlotte, North <br /> Carolina, hereinafter referred to as the Lessor, and ORANGE COUNTY <br /> HEALTH SERVICES , <br /> hereinafter referred to as the Lessee, of Orange Count <br /> W I T N E S S E T H : <br /> In consideration of the rents to be paid to the Lessor by the Lessee, <br /> as hereinafter provided, and of the covenants and agreements upon the part <br /> of the Lessor and the Lessee to be kept and performed, the Lessor hereby <br /> demises and leases to the Lessee, and the Lessee leases and takes from the <br /> Lessor the premises measuring 5580 square feet, as shown on the Floor <br /> Plan attached hereto as Exhibit A and by references made a part hereof, <br /> therein called the Leased Premises) located on the 2nd floor of that cer- <br /> tain building known as Carr Mill Building (the Building which Building is <br /> situated at the corner of Weaver and Greensboro Streets in the City of <br /> Carrbaro, Orange County, North Carolina on the property shown as Exhibit S <br /> attached hereto to be occupied and used as health service provider <br /> and for no other purposes; upon the terms and condi- <br /> tions herein set forth, together with the nonexclusive right to use all <br /> coron areas of the building including but not limited to stairways, halls, <br /> elevator*, restroom and parking facilities common areas. <br /> * 1. Term of Lease: The term hereof shall commence on the 1st day <br /> of November , 19 S5 and shall end at 12:00 midnight on the <br /> 31st day of October ,: 19 88 . Lessee shall have two options <br /> to extend the term for two years for each option, said options to run conse- <br /> cutively. Lessee shall exercise the first option by written notice to <br /> Lessor given within ninety days of the expiration of the term and the second <br /> option by written notice to Lessor given within ninety days of the expira- <br /> tion of the first option term. -Lessor to have option to relocate Lessee <br /> into comparable space in event Lessee options to renew lease at expiration <br /> of the term. <br /> 2. Rental. <br /> A., ��� Lessee shall pay to Lessor the sum of f if ty-f our thousand f our <br /> hundred & 00/100 Dollars ($ 54,405.40 } per annum (hereinafter <br /> # p <br /> sometimes referred to as the "Annual Base Rent") payable in monthly install- <br /> ments of forty-five hundred-thirty-three & 75/100 Dollars ($ 4,533.79 <br /> each due on the first day of each month, in advance, during the term of this <br /> Lease, except that payment for the first such monthly installment shall be <br /> made by Lease* to Lessor simultaneously with the execution of this Lease. <br /> (b) For each lease year of the lease term commencing with the <br /> second lease year, Lessee shall also pay to Lessor as additional rent along <br /> with the Annual Base Rent a sum equal to the decrease, if any, in the pur- <br /> chasing parer of the amount of the Annual Base Rent since the commencement <br /> date of the lease term. The amount of any such decrease, the amount of the <br />
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