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Bubdi n f ou4 7 <br /> STATE OF NORTH CAROLINA <br /> LEASE AGREEMENT <br /> COUNTY OF ORANGE <br /> THIS LEASE AGREEMENT ("Lease"), made and entered into as of the last date set <br /> forth in the notary acknowledgments below (the "Effective Date"), by and between HABITAT <br /> FOR HUMANITY, ORANGE COUNTY, N.C., INC., a nonprofit corporation registered in <br /> North Carolina, hereinafter referred to as "Lessor" and ORANGE COUNTY, a political <br /> subdivision of the State of North Carolina, hereinafter referred to as "Lessee." Lessor and Lessee <br /> are at times collectively referred to hereinafter as the"Parties" or individually as the"Party." <br /> WITNESSETH: <br /> WHEREAS, the board of directors of Habitat for Humanity, Orange County NC, <br /> Incorporated ("Habitat") has authorized and approved the execution of this Lease for the <br /> purposes herein specified; and <br /> WHEREAS, the execution of this Lease for and on behalf of Lessor has been duly <br /> approved by Habitat at a meeting held in the City of North Carolina, on the day of <br /> , 2013; and <br /> WHEREAS, the Parties have mutually agreed to the terms of this Lease as hereinafter set <br /> forth. <br /> NOW, THEREFORE, in consideration of the Premises, as described herein, and the <br /> promises and covenants contained in the terms and conditions hereinafter set forth, Lessor does <br /> hereby rent, lease and demise unto Lessee, for and during the term and under the terms and <br /> conditions hereinafter set forth, that certain Premises, with all rights, privileges and <br /> appurtenances thereto belonging. <br /> THE TERMS AND CONDITIONS OF THIS LEASE ARE AS FOLLOWS: <br /> 1. Premises. The "Premises" shall consist of that certain parcel or tract of land lying and <br /> being in the Township, Orange County, North Carolina, containing acres, <br /> more or less, being more particularly shown and described on Exhibit A, attached hereto and <br /> incorporated herein by this reference and having PINs and <br /> 2. Term. The term of this Lease shall commence on the Effective Date, and unless sooner <br /> terminated, extended, or renewed as provided herein, shall expire on the twentieth (20th) <br /> anniversary of the Effective Date at 2400 hours (the "Term"). <br /> 3. Rent. Lessee shall pay to Lessor as rental for the Premises the sum of ONE DOLLAR <br /> ($1.00) for the Term. <br />