Orange County NC Website
5 <br /> (c) The Tenant agrees to pay the County without demand at its office, or at such <br /> other place or places as County may from time to time designate in writing, the sum of six <br /> hundred seventy three ($673.00) per month ($8,076.00) for the 12 month lease term, on or <br /> before the fifth day of each month of the term. Should the Tenant elect to Lease additional <br /> spaces identified as "Morinaga Future Phase(s)", the Lease rate shall be fourteen dollars per <br /> square foot multiplied by the remaining term of the Lease Agreement. Any additional space <br /> lease would begin on the first day of a mutually agreed upon month. <br /> (d) The extension of time for the payment of any installment of rent, or the <br /> acceptance by the County of any money other than of the kind herein specified, shall not be a <br /> waiver of the right of the County to insist on having all other payments of rent made in the <br /> manner and at the time herein specified. <br /> (e) If any installment of rent is not received by the fifth (5th) day of any month it is <br /> due, Tenant shall pay as additional rent a late payment fee of Fifty Dollars ($50.00). This <br /> additional rent shall be due immediately without demand therefore and shall be added to and <br /> paid as a part of the installment payment of rent with respect to which it is incurred. <br /> 4. Holdover. If the Tenant shall remain in possession of the leased property <br /> after the expiration of the original or renewal period as set out above, such possession shall be <br /> as a month-to-month tenant. During such month-to-month tenancy, rent shall be the rent in <br /> effect during the last month of the term immediately preceding. <br /> 5. Insurance. The County shall keep in force insurance to provide for property <br /> damage to the building for replacement cost purposes. Provided, however, Tenant shall be <br /> responsible for and pay to County any increase in County's insurance premium occasioned by <br /> the nature of the Tenant's business. <br /> The Tenant shall maintain fire and casualty insurance covering the Tenant's fixtures, <br /> equipment, and other property located in the demised premises. <br /> Tenant shall keep the leased property insured, at its sole cost and expense, against <br /> claims for personal injury or property damage under a policy of general public liability insurance, <br /> with limits of at least $1,000,000 for bodily injury and $100,000 for property damage. Such <br /> policies shall name the County as additional named insured under the policy. <br /> The Tenant shall provide the County certificates of such insurance at or prior to the <br /> commencement of the term of this lease, and thereafter within ten (10) days prior to the <br /> expiration of such policies. Such policies shall provide that the same may not be canceled <br /> without at least ten (10) days prior written notice to County. <br /> 6. Rental Adjustment. In addition to the base rental, the Tenant shall assume <br /> and pay any additional fire insurance premium, hazard insurance premium, or other extended <br /> coverage insurance premium required as a result of any particular operation or use of said <br /> premises over and above the insurance premium required to be paid by County in the absence <br /> of said operation or use. <br /> 7. Signs. The County will place and maintain in and about the leased property at <br /> appropriately designated places, such neat and appropriate signs advertising the Tenant as <br /> such. Any special Tenant sign will be at the sole cost of the tenant but in the same styling, <br /> provided, however, that County shall not unreasonably withhold approval of such signs as <br /> Page 2 of 12 <br />