Orange County NC Website
0 <br />term ar additional terms, if any, are herein sometimes referred <br />to as the "Term" or the "Lease Term." <br />e. Landlord agrees to deliver to Tenant sole and.. <br />exclusive possession of the Premises (subject to the right of <br />Landlord to enter thereon for inspection purposes and otherwise <br />as provided herein) at the commencement date of 'the original <br />term. P;nd, Tenant agrees to accept possession of the property <br />upon such delivery. Landlord covenants and agrees that it wil <br />not take any action, other than pursuant to Paragraph 1 of this <br />I:,ease, to prevent Tenant from having quiet and peaceable <br />possession and enjoyment, of the property during the Term and <br />will at the request- of Tenant:.,. and at the cost of Tenant, <br />cooperate with Tenant in order that,Tenant may have quiet and <br />peaceable possession and enjoyment of the property. <br />f. Landlord; hereby grants to Tenant a right of first <br />xefusal to purchase the Premises, which must be exercised, if at <br />all, in the manner hereinafter set forth. In the event that <br />Landlord receives a bonafide of€er to purchase the Premises an <br />price., terms and conditions which it is willing~to accept, it <br />shall give prompt written notice of such offer to Tenant ("ROFR <br />Notice") The•ROFR Notice shall inc ude a copy of ouch offer, <br />provided that 'Landlord may delete the name of the prospective <br />purchaser.. Within fourteen {14} calendar days from the date such <br />ROFR Notice is given., Tenant may exercise its .right of first <br />refusal by executing and delivering to Landlord a written <br />contract: containing the same price, terms and conditions as set <br />forth in 'the RQFR Notice, with no material additional terms or <br />conditions.. Such contract shall be signed. and accepted by <br />Landlord and-the parties shall proceed t:o clgse in accordance <br />with. the terms-thereof. In the-event that Tenant fails to <br />exercise this option as herein provided, anti Landlord closes the <br />sale of the Premises substantially in accordance with tie terms <br />of the RCJFR Notice, Tenant's right, of first refusal shall <br />terminate and shall not be exercisable as to .any future sale :by <br />Landlord, its successors or assigns.. In the event tha Tenant <br />fails to exercise this option as prodded herein., aril Landlord <br />does :not close the sale: of the. Premises substantially iri. <br />accordance with the terms of :the ROFR Notice, Tenant's right of <br />first 'refusal shall remain in effect and Landlord shall not sell <br />the Premises witYiout again submitting the terms of the proposed <br />sale 'to Tenant. for Tenant's acceptance or approval in accordance <br />with the terms of -this paragraph. <br />3. Rent and Other Consideration. <br />a. Tenant shall pay tq Landlord the sum of One <br />Hundred Five Thousand Dollars ($lOS,OQO) per annum during the <br />original term, payable in monthly installments of Eight Thousand <br />Seven Hundred Fifty Dollars ($8,50) each due on the first day of <br />each month, in advance, during the original term of this Lease <br />except 'that payment f.or the first such monthly .installment shall <br />be made by Tenant contemporaneously with notice to Tenant from. <br />4 <br />