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Agenda - 12-09-2014 - 6h
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Agenda - 12-09-2014 - 6h
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5/27/2015 8:07:24 AM
Creation date
12/5/2014 9:15:21 AM
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BOCC
Date
12/9/2014
Meeting Type
Regular Meeting
Document Type
Agenda
Agenda Item
6h
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Minutes 12-09-2014
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\Board of County Commissioners\Minutes - Approved\2010's\2014
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Attachment 2 <br />LEASE MODIFICATION <br />THIS MODIFICATION OF LEASE made and entered into this day of <br />, 20 by and between HILLSBOROUGH COMMONS, LLLP as Landlord, and <br />ORANGE COUNTY, NORTH CAROLINA, Tenant; <br />WITNESSETH: <br />Whereas Landlord and Tenant entered into that certain Lease Agreement dated July 25, <br />2008, in connection with certain premises situated and being in Orange County and the State of <br />North Carolina being more particularly described in said Lease Agreement; and <br />Whereas, Tenant's current leased space, Unit 01 has 56,328 square feet ( "Current <br />Space "); and <br />Whereas, Tenant desires to expand into the adjacent location, Unit 03 containing 10,116 <br />square feet ( "Expansion Space ") for one (1) year; and <br />Whereas, Landlord and Tenant desires to amend said Lease Agreement to increase the <br />size of Tenant's space. <br />Now, therefore, for and in consideration of the sum of $1.00 and other good and valuable <br />consideration each to the other paid the receipt and sufficiency of which consideration is hereby <br />acknowledged, the parties hereto hereby agree as follows: <br />1. Tenant shall expand into the Expansion Space as shown on Exhibit A, <br />attached hereto. <br />2. Tenant's Lease of Unit 03 the Expansion Space, shall commence on January <br />1, 2015, and expire on December 31, 2015, a term of one (1) year. <br />3. Tenant's Minimum Rent for the Expansion Space shall be: <br />$127,462 annually; $10,622 per month. <br />4. In addition, Tenant shall pay the Real Estate taxes for the Expansion Space. <br />Should the Expansion Space not be taxed as a separate parcel, Tenant shall <br />pay Tenant's pro rata share of the Real Estate Taxes prorated as a ratio of <br />the buildings included in the tax bill. <br />5. Tenant hereby acknowledges the Demised Premises has been previously <br />occupied by another Tenant and as a material consideration to this Lease, <br />Tenant shall accept possession of the Demised Premises, in an "as is" <br />condition. Landlord shall have no obligation to perform or cause the <br />LEASE MODIFICATION — HILLSBOROUGH COMMONS <br />ORANGE COUNTY <br />1 <br />5 <br />
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