Agenda - 05-21-1997 - 8K - Laserfiche WebLink

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Y STATE OF NORTH CAROLINA COUNTY OF ORANGE LEASE THIS LEASE, made and entered into as of the 1st day of June, 1997, by and between The County of Orange, hereinafter referred to as "County," and James P. Lilley d/b/a Jim Lilley Properties, hereinafter referred to as "Tenant;" WITNESSETH: THAT FOR and in consideration of the mutual covenants and conditions hereinafter set forth, the parties hereto do hereby agree as follows: 1. Premises. County does hereby lease and let unto Tenant and Tenant does hereby accept as Tenant those certain premises designated as Suite #106 of the Bentley Building, 501 Franklin Street, Chapel Hill, Orange County, North Carolina, as more particularly shown on EXHIBIT A appended hereto. Further, tenant shall have the use of three (3) parking spaces adjacent to the Bentley building in common with other tenants of the Building. 2. Acceptance of Premises. The Tenant represents that the lease property, the sidewalks and structures adjoining .the same, any subsurface conditions thereof, and the present uses and nonuses thereof have been examined by the Tenant. The Tenant accepts the same in the condition in which they now are without representation or warranty, express or implied, in fact or by law, by the County, the nature, condition or usability thereof, or the uses to which the leased property may be put. Provided, County shall be responsible for insuring that the heating/air-conditioning system is in good operating condition; the exterior walls and roof, the lighting system (excluding such additions as may be required for Tenant's particular business operation) and the parking area and sidewalks are in good repair on the date of commencement of the lease term. County represents and warrants to Tenant that he holds unencumbered fee title to the lease premises. The County shall not be responsible for any latent defect or change of condition in such building, improvements and personality, and the rent hereunder shall in no case be withheld or diminished on account of any defect in such property, any change in the condition thereof, any damage occurring thereto or the existence with respect thereof of any violations of the laws or regulations of any governmental authority, except as hereinafter provided. 3. Term and Rental. (a) This lease shall commence on June 1. 1997 and shall continue for a term of Two 2 years, which ends on May 31, 1999, both dates inclusive, unless sooner terminated as herein provided. (b) BASIC RENT: The Tenant agrees to pay the County without demand at its office, or at such other place or places as County may from time to time designate in writing, the following rents for the aforementioned Premises for the term of this lease: Lease year 1 (June 1, 1998 through May 31, 1998): $7,860 per annum ($655/month) Lease year 2 (June 1, 1998 through May 31, 1999): $8,135 per annum ($677.93/month)