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b <br /> STATE OF NORTH CAROL A6 LEASE AGREEMENT <br /> COUNTY OF ORANGE <br /> THIB LUM AGREI®tiENr,made and e into this,dz day o(66 day aff&rwy.1995,but dbad a Feb nmy <br /> 1,IM.by and bdw=CARRBORO BELMAN S.C.LWM PARTNERSM.by Property Resataces, hathufta <br /> teBes:ed m.as"LANDLORD",and COUNTY OF ORANGE,a body politic and corporate and a political nib Msicn <br /> at*tM State otNw&Carolina.h=iw tta ra6erted to w"COUNTY". <br /> WITNEBBETM <br /> 1. PREII�IISES► LANDLORD hereby lases to COUNTY and COUNTY leases from <br /> LANDLORD, for the term and upon the terms and conditions hereinafter set forth, the premises <br /> described in"ExElm1T A',attached hereto and made a Pat hereof containing approximately 1,200 <br /> square feet,hereinafter referred to as the'Tremises". <br /> 2. TERM. The term of this Lease shall commence on February 1; 1995 <br /> ("Commmcement <br /> Daft") and shall continue for a period of three (3)years,with expiration at 12:00 <br /> midnight on January 31, 1998,ualess sooner terminated as hereafter provided. <br /> 3. GU MIN MM RENTAL. The COUNTY agrees to pay to the <br /> LANDLORD at the office of the LANDLORD or at such other place designated by the <br /> LANDLORD, the guaranteed rental of $800 per month payable on or before the 1st day of each <br /> calendar mouth commencing with the Commencement Daft. Effective on the first day of each Lease <br /> Year after the fast Lease Year (Wpotmeot Date"), the Guaranteed Mmmrnm4 Rental shall be <br /> increased by the amount determined by multiplying the Initial Rental Rate by that percentage which <br /> represents any cost of living incase between the Commencement Date and the Adjustment Date. <br /> Such pacxntage Milan be determined by uti">�a' g the applicable indices determined by the United State <br /> Bureau of labor Statistics(or its successor organiTStion)through its Consumer Price Index entitled <br /> "United States City Average-A11 items-All Urban Consumers Index". Such siont meat shall be made <br /> effective as of the Adjustment Date, as soon as possible after the index for the applicable mouth is <br /> published,with any defidmcy due and pay"with the next monthly installment of rental. Anything <br /> contained hewn to the contrary notwithstanding,in the event that the adjustment,would reduce the <br /> monthly rental from the moaft rental in eft for the preceding ng Lease Year,no such adjusment <br /> shall be made and the rental then in effect shall continue through the next Adjustment Date. Any <br /> other amps of money at charges to be paid by the COUNTY pursuant to the provisions of any other <br /> section of this Lease other than the Guaranteed Minimum Rental shall be designated as"Additional <br /> Charges". <br /> +. ADDrMNAL CHARGES: In addition to and separate from the Ifininann Rest, <br /> the COUNTY shall pay to the LANDLORD as Additional Charges, COUNTY'S Pro Rata Share of <br /> the Operating Expense Charges. Further,that amount consisting in the aggregate of Common Area <br /> Maintenance costs and taus and shall be adjusted annually at the end of the LANDLORD's fiscal <br /> year For purposes of this Lease, the following will describe and define the Operating Expense <br /> Charge: <br />