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RENEWAL LEASE AGREEMENT <br /> This RENEWAL LEASE AGREEMENT, dated ,jr�/ !� , 1985, by and <br /> between the Town of Chapel Hill, as Lessor (hereinafter, the "Town"), <br /> and the County of Orange, as Lessee (hereinafter, the "County"). <br /> In consideration of the mutual covenants and conditions set forth below, <br /> t, the Town and the County agree as follows: <br /> 1. Lease of Premises <br /> The Town leases to the County the Town's building at 100 W. Rose- <br /> mary Street known as the Old Police Building (hereinafter referred to <br /> as "Leased Premises") in its present condition and "as is." <br /> 2. Rent <br /> a. The County agrees to pay to the Town as rent for the Leased <br /> Premises the sum of $50,750 per annum. The County also agrees <br /> to pay any Additional Rent due under Paragraph 7.f. <br /> b. Rent shall be paid by the County to the Town on a quarterly <br /> basis. Such rent shall be due in the Town's Municipal Building <br /> { on or before the last day of September, December, March, and <br /> June, respectively. The rent for the quarter ending September <br /> 30, 1985 shall be <br /> prorated from July 12, 1985 and paid at the <br /> rental rate specified above. <br /> c. The County shall be deemed to have taken possession of the <br /> Leased Premises, or any portion thereof, on July 12, 1985. <br /> 3. Terms of Lease <br /> The term of this lease shall commence on July 12, 1985, and shall <br /> run for a period of 2 years thereafter. <br /> 4. Parking <br /> The County may, as a right and incident of this lease, use the <br /> parking spaces marked off in the upper parking lot of the Old Police <br /> Building. All spaces in the lower lot shall be reserved for use by <br /> the Town. <br /> 5. Sublease or Assignment <br /> This Lease Agreement may not be assigned or transferred. The <br /> County may from time to time grant subleases to governmental and <br /> non-profit agencies. <br />