Orange County NC Website
14 <br /> Tenant. When used herein, the original term and the additional <br /> term or additionai terms, if any, are herein sometimes referred <br /> to as the "Term" or the "Lease Term. " <br /> e. Landlord agrees to deliver to Tenant sole and <br /> exclusive possession of the Premises (subject to the right of <br /> Landlord to enter thereon for inspection purposes and otherwise <br /> as provided herein) at the commencement date of the original <br /> term. And Tenant agrees to accept possession of the property <br /> upon such delivery. Landlord covenants and agrees that it will <br /> not take any action, other than pursuant to Paragraph 11 of this <br /> Lease, to prevent Tenant from having quiet and peaceable <br /> possession and enjoyment of the property during the Term and <br /> will at the request of Tenant, and at the cost of Tenant, <br /> cooperate with Tenant in order that Tenant may have quiet and <br /> peaceable possession and enjoyment of the property. <br /> f. Landlord hereby grants to Tenant a right of first <br /> refusal to purchase the Premises, which must be exercised, if at <br /> all, in the manner hereinafter set forth. In the event that <br /> Landlord receives a bona fide offer to purchase the Premises on <br /> price, terms and conditions which it is willing to accept, it <br /> shall give prompt written notice of such offer to Tenant ( "ROFR <br /> Notice" ) . The ROFR Notice shall include a copy of such offer, <br /> provided that Landlord may delete the name of the prospective <br /> purchaser. Within fourteen (14) calendar days from the date such <br /> ROFR Notice is given, Tenant may exercise its right of first <br /> refusal by executing and delivering to Landlord a written <br /> contract containing the same price, terms and conditions as set <br /> forth in the ROFR Notice, with no material additional terms or <br /> conditions. Such contract shall be signed and accepted by <br /> Landlord and the parties. shall proceed to close in accordance <br /> with the terms thereof. In the event- that Tenant fails to <br /> exercise this option as herein provided, and Landlord closes the <br /> sale of the Premises substantially in accordance with the terms <br /> of the ROFR Notice, Tenant's right of first refusal shall <br /> terminate and shall not be exercisable as to any future sale by <br /> Landlord, its successors or assigns. <br /> 3. Rent and Other Consideration. <br /> a. Tenant shall pay to 'Landlord the sum of One <br /> Hundred Five Thousand Dollars ($105,000) per annum during the <br /> original term, payable in monthly installments of Eight Thousand <br /> Seven Hundred Fifty Dollars ($8,750) each due on the first day of <br /> each month, in advance, during the original term of this Lease <br /> except that payment for the first such monthly installment shall <br /> be made by Tenant contemporaneously with notice to Tenant from <br /> Landlord of Landlord's receipt of notice from Georgia-Pacific <br /> Corporation of Georgia-Pacific Corporation's intent not to renew <br /> its lease of the Premises. In the event Tenant shall fail to <br /> make any of the lease payments required, the payment so in <br /> default shall continue as an obligation of Tenant until the <br /> ardount in default shall have been fully paid, and Tenant agrees <br /> 4 <br />