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2 <br /> DZ/AFy <br /> NORTH CAROLINA LEASE <br /> ORANGE COUNTY <br /> This lease agreement entered into this day of , 1995 by and <br /> between Victor Carl Walters, Jr. and wife, Elizabeth T, Walters, of Cheeks Township, Orange <br /> County, North Carolina, hereinafter referred to as Owner and County of Orange, North Carolina, <br /> Hillsborough, North Carolina, hereinafter referred to as the County, <br /> WITNESSETH <br /> The Owner hereby agrees to lease the property described below to the County upon the <br /> following terms and conditions: <br /> 1. The Property. The property herein leased is a tract an parcel of land, together with all <br /> improvements located thereon, located in Cheeks Township, Orange County, North Carolina and <br /> more particularly described as follows: <br /> BEGINNING at an iron/rock on the east side of Saddle Club Road (SR 1346), running <br /> thence the following courses and distances: <br /> South 87 degrees 23 minutes 2 seconds East 52.79 feet to an existing iron/rock; running <br /> thence South 2 degrees 6 minutes 30 seconds East 202.89 feet to a control corner; <br /> running thence South 89 degrees 12 minutes 22 seconds East 785.15 feet to an iron pin <br /> set; running thence South 00 degrees 47 minutes 38 seconds West 320.00 feet to an iron <br /> pin set; running thence North 89 degrees 12 minutes 22 seconds West 1143.29 feet to an <br /> iron pin set on the east side of Saddle Club Road (SR 1346); running thence North 35 <br /> degrees 35 minutes 19 seconds East 324.89 feet to an iron pin set; running thence along a <br /> counterclockwise curve with a chord bearing of North 23 degrees 52 minutes 11 seconds <br /> East with a chord distance of 279.90 feet and having a radius of 689.06 feet to the point <br /> and place of BEGINNING and containing 8.0 acres per plat entitled "Property surveyed <br /> for Orange County Public Works" dated November 2, 1993 prepared by Callemyn Land <br /> Surveyors. <br /> Said 8 acres being part of an 88.9842 acre tract of land as recorded in Plat Book 38 Page <br /> 93 in Orange County Register of Deeds on January 19, 1984. <br /> 2. Term. The term of this lease shall be for a period of ten (10)years, commencing on <br /> January 1, 1995 and ending on December 31, 2005. <br /> Additionally, the County shall have the right and privilege of extending the lease for three <br />