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Agenda - 02-20-1990
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Agenda - 02-20-1990
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BOCC
Date
2/20/1990
Meeting Type
Regular Meeting
Document Type
Agenda
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02/05/90 14:46 `+' 0• 971 2233 WORD FKIAt. .bINU tEltrUZ <br /> 3 <br /> tri9 1 <br /> n � <br /> LEASE AGREEMENT <br /> 1. PARTIES. This Lease Agreement made and entered into this <br /> day of , 1990 by and between CENTRAL TELEPHONE COMPANY <br /> - NC, a Delaware Corporation, hereinafter referred to as "Lessor", <br /> and THE COUNTY OF ORANGE, a municipal corporation organized and <br /> chartered under the laws of the State of North Carolina, herein- <br /> after referred to as "Lessee". <br /> 2. PREMISES. Lessor hereby leases to Lessee and Lessee hereby leases <br /> from Lessor for the term, at the rental, and upon all of the <br /> covenants and conditions set forth herein, the PREMISES, outlined <br /> in red on EXHIBIT A attached hereto, and by this reference incorp- <br /> orated herein, located at 132 East King Street, Hillsborough, North <br /> Carolina consisting of approximately 1750 square feet of office <br /> space and 5 paved automobile parking spaces. <br /> 3. TERMS. <br /> 3.1 The term of this lease shall be for a period of five (5) <br /> years, commencing on and ending on <br /> unless sooner terminated pursuant to any provision hereof. <br /> 3.2 Additionally, Lessee shall have the right and privilege of <br /> extending the lease for one (1) additional consecutive five-year <br /> term, provided that notice of the exercise of such options is given <br /> in writing to Lessor not later than ninety (90) days prior to the <br /> date of termination of the then effective lease term. Except as <br /> herein otherwise provided, all terms and covenants contained in <br /> this Lease shall be in full force and effect during any extension <br /> period. <br /> 3.3 Notwithstanding the above commencement date, if Lessor for any <br /> reason whatsoever, cannot deliver possession of the Premises to <br /> Lessee on said date, Lessor shall not be subject to any liability <br /> therefore, nor shall such failure affect the validity of the lease <br /> or the obligations of Lessee hereunder; but in that event, Lessee <br /> shall not be obligated to pay rent until the time when Lessor can <br /> deliver possession. In case of any such delay, the termination <br /> date of this Lease shall be extended for an equal period of time. <br /> 4. RENTAL. <br /> 4.1 Lessee shall pay to Lessor as rental for the Premises the sum <br /> of Seventeen Thousand, Five Hundred Dollars ( 17,500) per year, <br /> payable in equal monthly installments of Fourteen Hundred, Fifty <br /> Eight Dollars and Thirty Three Cents ($1,458.33) , in advance on the <br /> first day of each month of the base term and any renewals thereof. <br /> 4.2 Rent for any period during the term hereof, which is for less <br /> than one month, shall be a pro rate portion of the monthly install- <br /> ment. Rental shall be payable in lawful money of the United States <br />
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