Orange County NC Website
8 <br />term or additional terms; it 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 possessgn of the Premises {subje:ct to .the right of <br />Landlord to enter thereon for inspection purposes and otherwise <br />as provided herein} at the commencement date of the orgina <br />term. And Tenant agrees to accept. possession of the property <br />upon such delivery. Landlord covenants and agrees that it will <br />riot take any action, other than pursuant to :Paragraph 1.1 of this <br />Lease, to preven 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 />refusal 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 bona fide offer to purchase the Premises on <br />price, terms and conditions which it is willing to accept, it <br />sha11 give prompt written notice. of such offer to Tenant ("RQFR <br />Notice"}. The RQFR Notice shall include a copy of .such offer; <br />provided that~Landlord may delete the .name of the prospective <br />purchaser.. .Within .fourteen {14} calendar days from the date. such <br />RQFR Notice is given, Tenant may exercise its right of first <br />refusal by executing and .delivering to Landlord a written <br />contract containing tY'e same price, terms and conditions as set <br />forth. in the RQFR Notice, wzth no material additional terms or <br />conditions._ Such contract sha11 be signed and accepted by <br />Landlord and the ,parties sriall. proceed to close in accordance <br />with the terms thereof_ In the event that Tenant fails to <br />exercise this option as herein provided, and. Landlord closes the <br />sale of the Premises substantially in accordance with the terms <br />of .the: RQFR 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 that Tenant. <br />fails to exercise this option as provided herein., and Landlord <br />does not close the sale of the Premises substantially in <br />accordance with: the terms of the ROFR'Notice, Tenant's right of <br />first 'refusal steal]. remain in effect and Landlord shall not sell. <br />the Premises without again subri-itting 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 to Landlord the sum of One <br />Hundred Five Thousand Dollars ($.105,000) per-annum during the <br />original term, payable in monthly installments of Eight Thousand, <br />Seven Hundred. Fifty Dollars {$8,750} each due on the first day of <br />each month, in advance, during the original term of this Lease <br />except that payment for the first such monthly installment shall <br />be made by Tenant contemporaneously with notice to Tenant from <br /> <br />