Orange County NC Website
13 <br /> 25. Assignment of Interest in Rents. The Landlord shall have the right, without selling its <br /> fee interest in the leased property or assigning its interest in this lease,. to assign from time to time <br /> the whole of the net rent at any time payable hereunder to persons, firm, corporation, trusts or other <br /> entities designated by the Landlord in a written notice to the County, and in any such case the <br /> County shall•pay the net rent, subject to the terms of this lease, to the Landlords' designee at the <br /> address mentioned in any such notice for the period covered by such assignment. <br /> 26. Right of First Refusal. Landlord hereby grants to County a right of first refusal to <br /> purchase the Premises,which must be exercised, if at all, in the manner hereinafter set forth. In the <br /> event that the Landlord receives a bona fide offer to purchase the Premises on price, terms and <br /> conditions which it is willing to accept, it shall give prompt written notice of such offer to County <br /> ("ROFR Notice'). The ROM Notice shall include a copy of such offer, provided that Landlord may <br /> delete the name of the prospective purchaser, unless County agrees that such identity shall be held <br /> confidentially to the extent permitted by applicable law. Within fourteen (14) calendar days from the <br /> date such ROM Notice is given, County may exercise its right of first refusal by executing and <br /> delivering to the Landlord a written contract containing the same price, terms and conditions as set <br /> forth in the ROM Notice, with no material additional terms or conditions. Such contract shall be <br /> signed and accepted by the Landlord and the parties shall proceed to close in accordance with the <br /> terms thereof. In the event that the County fails to exercise this option as herein provided, and <br /> Landlord closes the sale of the Premises substantially in accordance with the terms of the ROFT <br /> Notice, such option shall terminate and shall not be exercisable as to any future sale by Landlord, <br /> it successors or assigns. <br />