Agenda - 08-22-2006-5q - Laserfiche WebLink

Browse Search

a~ NORTH CAROLINA Or COUNTY OF ORANGE LEASE AGREEMENT RENEWAL WHEREAS a lease agreement was made and entered into as of the 12th day of July, 2001 and amended in May 2004, by and between the Ccunty of Orange, (County) and Horton Enterprises, LLC (Landlord) far a total of 6,000 square feet of space to be used as the Central Orange Senior Genter at 515 Meadowlands Drive, Suite 400, Hillsborough, North Garolina~ WHEREAS, the County and the Owner mutually agree to the following: Section 1 (b)-• PREMISES AND TERMS shall be modified to read as follows: (b) The term of this renewal shall be for 24 months beginning on September 1, 2006, except that the County may terminate the lease prior to expiration upon six-months notice to the Landlord. Section 2-• ANNUAL NET RENT shall be modified to read as follows: Beginning September 1, 2006, Tenant will pay Annual Net Rent of $84,000, which is due and payable on the first day of each year of the Lease.. However, for and in consideration of the Tenant's faithful performance of all of its obligations pursuant tc this Lease, the Landlord hereby agrees that Tenant may pay the Annual Net Rent in 12 equal monthly installments of $7,000 due on the first day of each month, Beginning September 1, 2007 Tenant will pay Annual Rent of $84,960, due and payable in monthly installments of $7,080 on the first day of each month. For Landlords remedies for late payments and other defaults, see Paragraph 21. Payments are to be made to Landlord's office, George Horton Enterprises, L.L..C., 960 Corporate Drive, Suite 102, Hillsborough, NC 27278, without prior demand by Landlord, without further notice from Landlord, and/or without set off by Tenant, Section 3~•CPI ADJUSTMENTS is deleted in its entirety. 4. All other terms and conditions shall remain the same.. This agreed to the day of , 2006.. County: Barry Jacobs, Chair Landlord: George A Horton III Attest: Donna S, Baker. Clerk to the Board