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°- 21 <br /> NORTH CAROLINA <br /> LEASE <br /> ORANGE COUNTY <br /> This lease agreement, dated the first day of February, 1993 , by and <br /> between Orange County, North Carolina, hereinafter called the <br /> "County" and the Hillsborough Chamber of Commerce, hereinafter <br /> called the "Chamber" . <br /> WITNESSETH: <br /> 1. PREMISES LEASED <br /> The County hereby leases to the Chamber and the Chamber hereby <br /> leases from the County the following described property, <br /> hereinafter called the "leased premises " . <br /> The property described in the deed recorded in Book 388 at <br /> page 365 in the Orange County Registry being the same property <br /> conveyed to the County from the Preservation Fund of Hillsborough, <br /> Inc . by deed recorded in Book at page in the Orange <br /> County Registry on , 199 <br /> 2 . TERM OF LEASE <br /> This lease shall become effective and possession of the leased <br /> premises surrendered to the Chamber commencing on March 1, 1993 and <br /> unless sooner terminated as herein provided shall exist and <br /> continue for a term of two years . The Chamber shall have an option <br /> to renew this lease for additional terms of two years upon such <br /> terms as are agreed by the Chamber and the County. <br /> 3 . RENT <br /> The Chamber agrees to pay the County rent in the amount of <br /> $125 per month; payment due and payable, in advance, on the first <br /> 1 <br />