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0 <br />NORTH CAROLINA <br />COUNTY OF ORANGE <br />LEASE AGREEMENT RENEWAL <br />WHEREAS a lease agreement was made and entered into as of the sixth day of July, 1987, by <br />and between the County of Orange, (the County) and Grey Moody (the Owner) for space to be <br />used as offices for County and Court functions at 103 Laurel Avenue, Carrboro, North Carolina; <br />WHEREAS, the County and the Owner mutually agree to the following: <br />1. The lease agreement will be continued for a period of three years commencing on <br />July 1, 2008 and ending at 12:00 midnight on June 30, 2011. <br />2. Section 3 (b), Rent Schedule, shall read as follows: <br />Rent during the three year renewal shall be payable in monthly installments on the first <br />day of each month during the term of this lease renewal pursuant to the following schedule: <br />July 1, 2008 through June 30, 2009: $53,232 ($4,436/month) <br />July 1, 2009 through June 30, 2010: $55,356 ($4,613/month) <br />July 1, 2010 through June 30, 2011: $57,576 ($4,798/month) <br />3. The County shall continue to reimburse the Owner for real estate taxes assessed <br />against the leased premises within 30 days of receipt of invoice from the Owner and proof of <br />payment by the Owner. <br />4. All other terms and conditions shall remain the same. <br />This agreed to the day of , 2008. <br />Grey Moody, Owner <br />County: <br />Barry Jacobs, Chair <br />ATTEST: <br />Donna S. Baker, Clerk to the Board Pre-Audit Stamp Here: <br />