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3 <br /> To Landlord: Hillsborough Savings Bank <br /> Attn: Mr. Tyson Clayton <br /> 260 S. Churton Street <br /> Hillsborough, NC 27278 <br /> or at such other address as may hereafter be designated in writing by either party hereto. <br /> The time and date on which mail is postmarked shall be the time and date on which such <br /> communication is deemed to have been given. <br /> 5. COVENANT OF TITLE: The Landlord covenants, represents and warrants that it has <br /> full right and power to execute and perform this Lease. If at any time during the term <br /> hereby demised the title of the Landlord shall fail or it shall be discovered that the <br /> Landlord's title does not permit the Landlord to grant the term hereby demised, the <br /> County's remedy, which shall be exclusive of all other remedies, shall be: <br /> 1.) annul and void this lease and <br /> 2.) the Landlord shall indemnify and hold the County harmless against any claims for <br /> rents resulting from title claim. <br /> 6. ASSIGNMENT AND SUBLEASE: The County agrees not to encumber or assign this <br /> lease or sublease all or any part of the Leased Premises without the written consent of the <br /> Landlord, which consent shall not be unreasonably withheld. Such assignment shall in no <br /> way relieve the County from any obligations hereunder for the payment of rents or the <br /> performance of the conditions and provisions of this lease. <br /> 7. QUIET ENJOYMENT: The Landlord agrees that the County upon paying the stipulated <br /> rental and keeping and performing the agreement and covenants herein contained, shall <br /> hold and enjoy the Leased Premises for the term aforesaid, subject to the terms of this <br /> Lease. <br /> 8. RIGHT OF ENTRY: The County agrees that the Landlord or his designee shall have <br /> the right to enter the Lease Premises during normal business hours or any other time with <br /> consent of County. <br /> 9. INSURANCE: The Landlord shall provide Fire and Extended coverage insurance to the <br /> Leased Premises. Contents will be insured by the County; County shall also insure any <br /> improvements and betterments made by it to the Leased Premises to the insurable value <br /> thereof. Unless the parties hereto then agree otherwise, the proceeds collected upon all <br /> such policies of insurance shall be used to repair and/or replace the Leased Premises, <br /> improvements or betterments so damaged or destroyed, and such repairs or replacements <br /> shall be prosecuted promptly by both the Landlord and the County with insurance funds. <br /> In the event of the total destruction of the Leased Premises by fire or other casualty, this <br /> lease shall terminate as of the date of such destruction, unless the Landlord and the <br /> County mutually agree to have the premises restored, during which restoration period the <br /> County shall be excused from the rental payment. <br /> In the event of partial destruction of the Leased Premises, rendering them unsuitable for <br /> the County's business, the parties shall repair and restore the Leased Premises as quickly <br /> as practical and during such period of repair and restoration there shall be an abatement to <br /> the County of the rental amount proportionate to the portion of the floor area of the Leased <br /> Premises rendered unsuitable for the County's business. <br /> Graham Building Lease; Page 2 <br />