Agenda - 06-16-1987 - Laserfiche WebLink

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-- ir, } RENEWAL LEASE AGREEMENT This RENEWAL LEASE AGREEMENT, dated -,f ,,/ . , 19851 by and between the Town of Chapel Hill, as Lessor (hereinafter, the "Town "), and the County of Orange, as Lessee (hereinafter, the "County "). In consideration of the mutual covenants and conditions set forth below, the Town and the County agree as follows: 1. Lease of Premises The Town leases to the County the Town's building at 100 W. Rose- mary Street known as the Old Police Building (hereinafter referred to as "Leased Premises ") in its present condition and "as is." 2. Rent a. The County agrees to pay to the Town as rent for the Leased Premises the sum of $50,750 per annum. The County also agrees to pay any Additional Rent due under Paragraph 7.f. b. Rent shall be paid by the County to the Town on a quarterly basis. Such rent shall be due in the Town's Municipal Building on or before the last day of September, December, March, and June, respectively. The rent for the quarter ending September 301 1985 shall be prorated from July 12, 1985 and paid at the rental rate specified above. c. ' The County shall be deemed to have taken possession . of the Leased Premises, or any portion thereof, on July 12, 1985. 3. Terms of Lease The term of this Lease shall commence on July 12, 1985, and shall run for a period-of 2 years thereafter.. Revision: The term of this lease shall commence on July 12, 1985 and shall expire September 12, 1987. 4. Parking The County may, as a right and incident of this lease, use the parking spaces marked off in the upper parking lot of the Old Police Building. All spaces in the lower lot shall be reserved for use by the Town. 5. Sublease or Assignment This Lease Agreement may not be assigned or transferred. The County may from time to time grant subleases to governmental and non -- profit agencies.