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STATE OF NORTH CAROLINA <br /> COUNTY OF ORANGE LEASE <br /> THIS LEASE, made and entered into as of the 1st day of May 2014, by and between Orange <br /> County, hereinafter referred to as "County," and Terra Dotta LLC., hereinafter referred to as <br /> "Tenant;" <br /> WITNESSETH: <br /> THAT FOR and in consideration of the mutual covenants and conditions hereinafter <br /> set forth, the parties hereto do hereby agree as follows: <br /> 1. Premises. County does hereby lease and let unto Tenant and Tenant does <br /> hereby accept as Tenant those certain premises designated as Suites #105, #106, and #200 of <br /> the Bentley Building, 501 West Franklin Street, Chapel Hill, Orange County, North Carolina, as <br /> more particularly shown on EXHIBIT A appended hereto. <br /> 2. Acceptance of Premises. The Tenant represents that the lease property, the <br /> sidewalks and structures adjoining the same, any subsurface conditions thereof, and the <br /> present uses and non-uses thereof have been examined by the Tenant. The Tenant accepts <br /> the same in the condition in which they now are without representation or warranty, express or <br /> implied, in fact or by law, by the County, the nature, condition or usability thereof, or the uses to <br /> which the leased property may be put. Provided, County shall be responsible for ensuring that <br /> the heating/air-conditioning system is in good operating condition; the exterior walls and roof, <br /> the lighting system (excluding such additions as may be required for Tenant's particular <br /> business operation) and the parking area and sidewalks are in good repair on the date of <br /> commencement of the lease term. County represents and warrants to Tenant that it holds <br /> unencumbered fee title to the lease premises. The County shall not be responsible for any <br /> latent defect or change of condition in such building, improvements and personalty, and the rent <br /> hereunder shall in no case be withheld or diminished on account of any defect in such property, <br /> any change in the condition thereof, any damage occurring thereto or the existence with respect <br /> thereof of any violations of the laws or regulations of any governmental authority, except as <br /> hereinafter provided. In addition, Tenant acknowledges that the Bentley Building is a smoke free <br /> building and does not permit tobacco use inside of the building. <br /> 3. Term and Rental. <br /> (a) This Lease shall commence on May 1, 2014, and shall continue for a term of <br /> twenty-four(24) months, ending on April 30, 2014, both dates inclusive, unless sooner <br /> terminated as herein provided. Upon mutual written agreement this Lease may be renewed for <br /> up to four twenty-four month terms. Any renewal may be for the entire leased premises or for <br /> one or more of the designated suites. Any such renewal shall be subject to a mutually agreed <br /> upon increase in rent. <br /> (b) Tenant shall deliver to County a deposit in the amount of two thousand three <br /> hundred eighty eight dollars ($2,388.00), which is the equivalent to the rent for one (1) month. <br /> Deposit shall be held as a security deposit against claims for damages. Any deposit previously <br /> made by Tenant pursuant to the terms of a prior lease may be credited against this amount <br /> provided the previous deposit is currently held by County and has not been disposed of as <br /> provided in the prior lease. This money may be deposited for the exclusive use of Orange <br /> Page 1 of 12 <br />