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M <br />STATE OF NORTH CAROLINA <br />COUNTY OF ORANGE <br />LEASE RENEWAL <br />Under the terms of a lease dated August 18, 1987, between <br />the County of Orange, hereinafter called the County, and the <br />ArtsCenter, Inc., hereinafter called the ArtsCenter, pursuant to <br />Section 1 of attached lease (exhibit A), the County chooses to <br />renew a lease with the following terms and conditions: <br />1. Term shall begin on July 1, 1992 and shall end on the <br />30th day of June, 1997. However, the County may provide 90 <br />days written notice and terminate the lease without penalty <br />after July 1, 1995• <br />2. Rent <br />July <br />Schedule: <br />1, 1992 through <br />June <br />30, <br />1993 <br />$13,632 <br />$ 13,632 <br />July <br />1, <br />1993 <br />1994 <br />through <br />through <br />June <br />June <br />30, <br />30, <br />1994 <br />1995 <br />$13,632 <br />July <br />July <br />1, <br />1, <br />1995 <br />through <br />June <br />30, <br />1996 <br />$13,632 <br />$13,632 <br />July <br />1, <br />1996 <br />through <br />June <br />30, <br />1997 <br />3..o The County agrees to pay an additional $500 per year to <br />the ArtsCenter for the increased level of janitorial services <br />the County's programs require. Funds will be forwarded to the <br />ArtsCenter in two equal payments in July and January of each <br />year of the lease. <br />All other terms and conditions of lease shall remain the same. <br />