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15 <br /> to pay the same with interest thereon at the rate of 10% per <br /> annum until paid.- Rent payments shall be made to Landlord and <br /> shall be received on the due date at the Finance Office of <br /> Landlord or received electronically on the due date in an account <br /> or accounts designated by Landlord. <br /> b. Tenant has indicated its interest in making <br /> certain capital improvements to the Premises upon its occupancy <br /> of the Premises. Particularly, the roof to the building may need <br /> to be replaced, doors to the building may need to be replaced and <br /> the gravel parking areas may better serve Tenant's needs if some <br /> or all of them are paved. Landlord agrees to a rent set-off for <br /> any such capital improvements undertaken and completed by Tenant, <br /> and upon Tenant's submitting proof of their cost to Landlord, <br /> within the first five years of the original term up to a maximum <br /> of $150,000, with no more than $50,000 set off in any one year. <br /> C. The obligations of Tenant to make rent payments <br /> required shall be absolute and unconditional and shall not be <br /> subject to diminution by set-off, counterclaim, abatement or <br /> otherwise during the Term except as expressly provided in this <br /> Lease. Nothing contained in this subparagraph shall be construed <br /> to release Landlord from the performance of any of the agreements <br /> on its part contained in this Lease; and in the event Landlord <br /> shall fail to perform any such agreement on its part, Tenant may <br /> institute such action against Landlord as Tenant may deem <br /> necessary to compel performance or recover its damages for non- <br /> performance provided that no such action shall violate the <br /> agreement on the part of Tenant to unconditionally make the rent <br /> payments or diminish the amount of the rent payments. <br /> d. Tenant makes the following representations as an <br /> inducement to and the basis for its undertakings and Landlord's <br /> agreement to lease the Premises to Tenant. These representations <br /> are covenants and the failure of Tenant to comply and remain in <br /> compliance with them constitutes an event of default under this <br /> Lease: <br /> (i) Tenant is a corporation duly incorporated <br /> under the laws of and is in good standing in the State of <br /> , is authorized to do business and is in <br /> good standing in the State of North Carolina, has power to enter <br /> into this Lease and by proper corporate action has been duly <br /> authorized to execute and deliver this Lease. <br /> (ii) Neither the execution and delivery of this <br /> Lease, the consummation of the transactions contemplated hereby, <br /> nor the fulfillment or compliance of the terms and conditions of <br /> this Lease, conflict with or result in a breach of any of the <br /> terms, conditions or provisions of any corporate restriction or <br /> any agreement or instrument to which Tenant is now a party or by <br /> which it is bound, or constitute a default under any of the <br /> foregoing, or result in the creation or imposition of any lien, <br /> charge or encumbrance of any nature whatsoever upon any of the ' <br /> 5 <br />