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5 <br />EteCurri toy Geo:f~~ ~. Gl.ed[1i;t1, .i?.0:, llca~aer 1529 ..11st~orough, iVC 2:7278 <br />NO.RTH:CAROLTNA <br />ORANGE COUNTY <br />THIS LEASE AGREEMENT made and entered Go a of`the 3rd. <br />day of June , 19 97 by and between the CC}UNTY QF QRANGE, <br />NOR'Z'H. CAFtOL.II~TA, a ,pol.tica:l subdivision of t;he State o.f Nor.th <br />Carolina, lia~ring its ,pr.ncipal office'. at 20$ South Cameron. <br />Street, Hillsborough, North. Carolina, hereinafter sometimes <br />referred to as "Landlord;" and BL7ILDERS' SUPPLY & LUMBER COMPANY:, <br />ING., a Michigan corporation: having '.its principal office ri <br />Fredrick, Maryland, hereinafter referred. to as. "Tenant; " ~ ~' <br />WHEREAS, on or about C3etober 1, 1.997,: Landlord anticipates <br />becoming the owner o.f the property,:-including a building and <br />other structures and facilities located thereon, which is <br />c3.esc.rbed in Exhi:b.t A attached hereto and made a part hereof <br />{:which. property is herein sometimes referred to as "the <br />.. <br />Prem~:ses'"), as provided zn and expla~,ned in the DECLARATION which <br />is Exhibit B; and <br />WHEREAS, it is anticipated that the present tenant of the <br />Premises, Georgia-Pacific Corporation,. will. not exercise t.s <br />right to renew its lease beyond October 1, 199'7 and'. will vacate <br />the premises no -later: than Qctober 1, 1997; and <br />WHEREAS; Tenant has expressed an interest in 1eas.ing the <br />Premises from Landlord on a long term ba is, and <br />WHEREAS; on April 1; 1996,., Laridlord~conducte.d a,publ,ic <br />hearing pursuant to North Carolina General Saatutes §.1:58-7.1,. <br />follotrring publication of notice of that public hearing at least <br />ten clays before the hearing was held; for the purpose o:f <br />-receiving public Gomment.on a. proposed bong term lease between. <br />Landlord and. Teriani~; and <br />WHEREAS, at ghat public hearing nforrnatiarr°was'p.rovided by <br />or on beYialf af. Tenant as follows <br />1: approximately 6t1 to 70 employees wi11 be: hired by <br />Tenant an:d' employed at the 'Premises during .the first year of <br />occupancy by Tenant; approximately 9Q to 200 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. far the employees o.f Tenant: to be employed <br />at tYie Premises are projected to aaerage $1.80 per'hour for all <br />employees a:nd $.9.13 per hour excluding salaried, managerial/ <br />supervisor pos .ions; <br />3, Tenant .will. invest approximately $`8 .5 million in the. <br />local economy of Landlord within the first. three years of`its <br />occupancy of the Premises. Specifically, it will. nwe~stC~$2,14 <br />~~ ~~~~ ~~ <br />. , ,~ <br />