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0 <br />presently leased by Georgia--Pacific Corporation, a Georgia <br />corporation, whose principal place of busing s is 133 Peachtree <br />Street, N.E „ Atlanta, Georgia. 30303, pursuant to an unrecorded <br />Lease Assignment and Assumption Agreement, a copy of which is <br />Exhibit D. <br />b. The lease between the Industrial pevelbpment <br />Corporation .n the County caf Orange and Georgia-Pacific <br />Corporation expires midnight October 1, 1997 or on a date :sooner <br />than that if bonds issued by the Industrial: Development <br />Corporation in the County of Orange., Narfh Carolina are fully <br />pad•and retired, in which event the lease expires on the date <br />they are fully paid and retired., Further., the .lease between the <br />Industrial Deveioprnent Corporation in the.County of Orange,~North <br />Caraiina and Georgia-Pacific Corporation, upon its expiration, is. <br />automatically .renewed or extended: for not exceeding five <br />Years each unless notice is given in <br />additional terms of four ' <br />writing by Georgia-Pacific Corporation at east 30 days before <br />the end of the expiration of the original 'term or any renewal or <br />expiration term thereof, of ,its intention to terminate the lease <br />at the end of such term, in which event the lease sha11 terminate <br />in accordance with such notice. <br />c. ~ It is anticipated by Landlord and Tenant that <br />Georgia-Pacific Corporation will provide riot.ce to the Indus:tria3 <br />DeveloPxnent Corporation in the County of Orange of its intention <br />to terminate the lease between them at the end of.the original <br />term. Further, at the expixati:on of the original term of the <br />lease between the Industrial Development Corparaton.in the <br />:County of Orange, North Garolana and Georgia-Pacific Corporation, <br />and contemporaneously with the bonds being fully paid anti <br />refixed, a Warran y Deed of the Premises, which warranty deed <br />names Landlord as the grantee will be delve~rec3. to 'Landlord. as <br />described in ExYiibt B. <br />d. Provided Georgia-Pacific Corparatian'effectvely <br />terminates the lease between it and 'the Industrial Development <br />Corporation in the County of Orange effective midnight tJctober 1, <br />1.997, fhe,orgnal term of this Lease shall commence on midnight, <br />October 1, 1.99T and shall end at midnight on $'ep~ember 30, 2007, <br />subject to~the provisions of this Lease including particularly <br />ParagrapY-•I1:hereo€. This Lease shall,. upon. the expiration of <br />the origina]:':term be automatically renewed or extended for not <br />exceeding:--.two:additional terms of five years each unless and. <br />until notice be given n,wr.tng by Tenant at east.30 days <br />be€ore the end o€ the original term, or any renewal or extension <br />term thereof, of its intention to terminate the Lease at the. end <br />of such term, in which event the Lease shall terminate in <br />accordance with su.ch.not5.ce. A11 such renewal terms shall be <br />upon 'the terms and conditions herein specified or a.s otherwise <br />agreed upon by Landlord and. Tenant except that the rental during <br />any such renewal term shall be in an amount equal to the fair <br />recital. value of the property as agreed upon by Landlord and <br />Tenant.. When u ed herein, the original term and the additional <br />