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tZe4urn to:, Geo£f~ ~.. Gledh;l.l, i~.o. Dracier 1529, ~llsborouoh; NC 27278 <br />NORTH:CAROLINA <br />bRANGE:C:UUNTY <br />THIS LEASE AGREEMENT made and entered n;to as of the 3ra <br />day of June 19 97 by and between the. COUNTY OF QRANGE <br />NURTH:CARQLIN.A, a polticaa subdivision of the State of North <br />Carolina, having its principal office at 208 Soutli.Cameron. <br />Street, Hillsborough, North Carolina, hereinafter sometimes <br />referred to as "Landlord," and BUILDERS' SUPPLY & LUMBER COMPANY, <br />INC.., :a Michigan corporation having its principal off"ice in <br />Fredr.ck'; Maryland, hereinafter referred to as "Tenant;" <br />WHEREAS, on ar about C?ctober 1, 1997,, L'andlord.antcipates <br />becoming he.awner of the property; `including abuildng and <br />other structures- and facilities' located thereon, which is <br />descrbed.ri.Exhibt A attached hereto. and made a part hereof <br />('whieYi property is' herein :sometimes: re:ferrecl to as "the <br />Premises'"1, as provided in and explained in the OECLARATLON which <br />s Exhibit 8, and <br />:WHEREAS:, it is anticipated tYia:t the present tenant of the.. <br />Premises, Georgia-Pacific;COrporatan, will not exercise i':t:s <br />.:right to renew its lease :beyond October 1, ;1.997 and will vacate <br />the premises no later than. October 1:, 1997':; and. <br />WHEREAS, Tenant has expres's,ed an interest in leasing :the <br />Prem es from Landlord on a long term basis; anc3 <br />WHEREF,S on April 1, 1.99;6,- Landlord conduceed a publzc <br />hearing pursuant to North Caro;l:na General Saatutes ~ 1:5$-7.1„ <br />following publication of notice of that public hearing at leas <br />ten days before the hearing was held, for the purpose:ot <br />receiving public comment.on a proposed lcang term. lease between, <br />Landlord and Tenant; and <br />WHEREAS., at that public bearing information was provided by <br />or on behalf of Tenant as follows: <br />`1. approximately 6Q to 70 employees. will be hired by <br />Tenant and-.employed at: the Premises during the first year of <br />.occupancy by Tenant; approximately 90 to 100 employees will be <br />hired, and: employed at the: Premises by Tenant within two to three <br />years following occupancy of the property by Tenant; <br />2; wage rates for tPie employees of Tenant to be :employed. <br />at the :Premises are projected; o, .average $12.80 per hour for al <br />emp ogees and $9.13 per hour excluding salaried,:managerial/ <br />supervisor positions; <br />3. Tenant will invesa approximate y <br />local economy of I.,andlord within 'the first <br />occupancy of the .Premises.. Specifically, <br />l <br />$8.b million in the. <br />three .years of it <br />it will invesa( $2 ,14. <br />!'G _. <br />. i .,, <br />O <br />