Orange County NC Website
Browse       Search
18 <br /> Memorandum of Lease Agreement ("Memorandum") dated October 23, 1998, and recorded on <br /> December 29, 1998, in Book 1849, Page 546 in the Registry; and <br /> WHEREAS, Landlord granted an access and utilities easement to GTE Mobilnet pursuant <br /> to that certain Easement Agreement recorded on December 29, 1998, in the Registry in Book <br /> 1849, Page 554; and <br /> WHEREAS, Landlord conveyed to Property Owner its right, title, and interest in the <br /> Leased Premises pursuant to that North Carolina General Warranty Deed recorded on January <br /> 15, 2014, in the Registry in Book 5743, Page 496; and <br /> WHEREAS, Property Owner and Landlord entered into that certain Lease recorded on <br /> January 15, 2014 ("Orange County Lease"), in the Registry in Book 5743, Page 518, whereby <br /> Property Owner leased the underlying property, which contains the Leased Premises, to <br /> Landlord; and <br /> WHEREAS, Property Owner and Landlord have entered into an Assignment Agreement <br /> of even date herewith, whereby Property Owner assigned all of its right, title and interest in the <br /> Lease to Landlord; and <br /> WHEREAS, the term of the Lease commenced on November 1, 1998, and has an original <br /> term, including all Extended Term(s) (as defined in the Lease), that will expire on October 31, <br /> 2018 ("Original Term"), and Landlord and Tenant now desire to amend the terms of the Lease to <br /> provide for additional Extended Term(s) beyond the Original Term, and to make other changes; <br /> and <br /> WHEREAS, Landlord, Tenant and Property Owner made and entered into a First <br /> Amendment to Light Standard Lease Agreement of even date herewith ("First Amendment") and <br /> pursuant to the terms of, and for that consideration recited in, the First Amendment, the parties <br /> wish to hereby amend certain provisions of the Lease, and provide this Amended Memorandum <br /> as notice thereof, as follows: <br /> 1. Landlord does hereby lease and grant unto Tenant, its successors and assigns, the <br /> Leased Premises for five (5) additional Extended Terms beyond the Original Term, such that the <br /> Lease expires twenty-five (25) years from the Effective Date of the First Amendment (as defined <br /> in the First Amendment) in the year 2043, unless sooner terminated as provided in the Lease. <br /> 2. The parties agree to amend the description of the Leased Premises to be as shown <br /> as the "Lease Area" in Exhibit A attached to the First Amendment and attached hereto and <br /> incorporated herein, and described as the "Tower Lease" by metes and bounds on Exhibit B <br /> attached to the First Amendment and attached hereto and incorporated herein, and Landlord does <br /> hereby lease same to Tenant for those uses provided for in the Lease. Exhibit A and Exhibit B <br /> attached to the First Amendment and attached hereto shall replace any and all descriptions of the <br /> Leased Premises. <br /> 3. (a) The parties agree to amend the description of the Access Easement granted in <br /> the Lease to reflect the access and utility easement shown as the "Access/Utility Easement" <br /> Site Name: Culbreth <br /> BU: 814444 -2- <br /> PPAB 4184478v2 <br />