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r <br /> 7 <br /> 4. Rent. The County agrees to pay to the Landlord at the office of the Landlord or at such <br /> other place designated by the Landlord, the guaranteed rental of$8,270 per month payable on or <br /> before the first day of each calendar month commencing with the Commencement Date ("Initial <br /> Rental Rate"). Effective on the first day of each lease year after the first lease year("Adjustment <br /> Date')w,-th&rental rate shalt be increased by the amount determined by multiplying the Initial Rental <br /> Rate by that percentage which represents any cost of living increase between the Commencement <br /> Date and the Adjustment Date. Such percentage shall be determined by utilizing the applicable <br /> indices determined by the United State Bureau of labor Statistic (or its successor organization) <br /> through its Consumer Price Index entitled "United States City Average-All Items-All Urban <br /> Consumers Index". Such adjustment shall be made effective as of the Adjustment Date, as soon <br /> as possible after the index for the applicable month is published, with any deficiency due and payable <br /> herein to the contrary notwithstanding, in the event that the adjustment would reduce the monthly <br /> rental from the only rental in effect for the preceding lease year, no such adjustment shall be made <br /> and the rental then in effect shall continue through the next Adjustment Date. <br /> 5. Notices. For the purpose of notice or demand, the respective parties shall be served by <br /> certified or registered mail, return receipt requested, address to County or Landlord at their <br /> respective office address, as set forth herein: <br /> To County: County of Orange <br /> Director of Purchasing and Central Services <br /> PO Box 8181 <br /> Hillsborough, NC 27278 <br /> To Landlord: Devisees of Orville B. Campbell <br /> c/o Stephen J. Manton, agent <br /> ESM Associates <br /> PO box 4523 <br /> Chapel Hill, NC 27515 <br />