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NORTH CAROLINA <br /> COUNTY OF ORANGE LEASE AGREEMENT RENEWAL <br /> WHEREAS a lease agreement was made and entered into as of the sixth day of July, <br /> 19871 by and between the County of Grange, (the County) and Grey Moody (the Owner) <br /> for space to be used as offices for County and court functions at 103 Laurel Avenue, <br /> Carrboro, North Carolina; <br /> WHEREAS , the County and the Owner mutually agree to the following: <br /> 1. The lease agreement will be continued for a period of one year <br /> commencing on July 1, 1998 and ending at 1 2:00 midnight on June 30, 1999. <br /> 2. The Owner will notify the County by January 1, 1999 of his intentions as it <br /> respects the sale of the building. If sale of the property does not occur, the County may <br /> extend the lease for an additional two years beginning July 1, 1999 and ending 12:00 <br /> midnight on June 30, 2001. <br /> 2. Section 3 (b), Rent Schedule, shall read as follows: <br /> Rent during the one year renewal shall be forty thousand fifty six and 001100 <br /> dollars ($40,056), payable in monthly installments of three thousand three hundred <br /> thirty eight and 001100 dollars ($3,338), each monthly installment payable on the first <br /> day of each month during the term of this lease renewal. <br /> Rent for future renewals, if any, will be negotiated when intent to renew is <br /> expressed by the Landlord. <br /> 3. The county shall reimburse the Owner for real estate taxes assessed <br /> against the [eased premises within 30 days of receipt of invoice from the Owner and <br /> proof of payment by the Owner. <br /> 4. All other terms and conditions shall remain the same. <br /> This agreed to the day of , 1998. <br /> Grey Moody, Owner <br /> County: <br /> Seal <br /> Margaret W. Brown, Chair <br /> ATTEST: <br /> Beverly A. Blythe, Clerk to the Board <br />