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6 <br /> Attachment 3 <br /> STATE OF NORTH CAROLINA <br /> GROUND LEASE AGREEMENT <br /> COUNTY OF ORANGE <br /> THIS GROUND LEASE AGREEMENT("Lease"),made and entered into as of the last <br /> date set forth in the notary acknowledgments below(the "Effective Date"), by and between the <br /> STATE OF NORTH CAROLINA, a body politic and corporate hereinafter referred to as <br /> "Lessor" and the � 4-Y nF2 OR A ;WRANGE COUNTY, a political subdivision of the Comment[gmtl]:Accepted. <br /> State of North Carolina, hereinafter referred to as "Lessee." Lessor and Lessee are at times <br /> collectively referred to hereinafter as the"Parties"or individually as the"Party." <br /> WITNESSETH: <br /> WHEREAS, the North Carolina Department of Public Safety, Division of Adult <br /> Correction (the "DAC") 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 the Governor and Council of State at a meeting held in the City of Raleigh,North <br /> Carolina,on the 2nd day of October,2012;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 Town of Hillsborough, Orange County,North Carolina, containing 6.8 acres, more <br /> or less, being more particularly shown and described on Exhibit A, attached hereto and <br /> incorporated herein by this reference. <br /> 2. Term. The term of this Lease shall commence on the Effective Date, and unless sooner <br /> terminated as provided herein, shall expire on the fiftieth(50th)anniversary of the Effective Date <br /> 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 /> Page I of 17 <br />