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STATE OF NORTH CAROLINA <br /> COUNTY OF ORANGE <br /> LEASE AGREEMENT 072 <br /> THIS LEASE AGREEMENT, made and entered into this the First day of , <br /> October, 1987 by and between the TOWN OF CHAPEL HILL, a North Carolina <br /> Municipal Corporation, 306 North Columbia Street, Chapel Hill, North <br /> Carolina, hereinafter referred to as "Town" and the COUNTY OF ORANGE <br /> hereinafter referred to as "County". <br /> In consideration of the mutual covenants and conditions set forth <br /> below, the Town and the County agree as follows: <br /> 1. Lease of Premises <br /> The Town agrees to lease to the County the First Floor (2, 009 <br /> square feet) of the Department of Housing and Community Develop- <br /> ment Administration Building at 317 Caldwell Street Extension <br /> for use by the Employment Security Commission of North Carolina. <br /> 2. Rent <br /> a. The County agrees to pay to the Town as rent for the Leased <br /> Premises the sum of $1, 339 per month. <br /> b. Rent shall be due in the Town's Municipal Building on or <br /> before the Fifteenth day of each month. <br /> c. The County shall be deemed to have taken possession of the <br /> Leased Premises on October 1, 1987. <br /> 3 . Term of Lease <br /> The term of this lease shall commence on October 1, 1987, and <br /> shall run for a period of twelve months. This lease shall be <br /> subject to nonrenewal. <br /> 4. Par g <br /> The County may, as a right and incident of this lease, use any <br /> of the parking spaces in the parking lot except those that have <br /> been reserved for Town staff. <br /> 5. Sublease or Assi ent <br /> The County may not sublease the leased premises to any agency <br /> other than the Employment Security Commission of North Carolina. <br /> 6. Alterations <br /> The Lessee shall have the right during the existence of this <br /> lease, with the prior written conscent of the Town Manager, to <br /> make alterations, attach fixtures and e <br /> additions, structures or signs in or upon thp <br /> eleased premises.erect <br /> Such fixtures, additions, structures or signs so placed ineor <br /> upon or attached to the leased premises under this lease or any <br /> prior lease of which this lease is an extension or renewal shall <br /> be and remain the property of the Lessee and may be removed <br /> therefrom by the Lessee prior to the termination of this lease <br />