Item 8-g - Assignment of Leasehold Interest to Chapel Hill Carrboro City Schools

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36 1. Any capitalized terms not defined herein shall have the meanings ascribed to them in the Agreement. The recitals in this Second Amendment are incorporated herein by this reference. 2. The first sentence of Section 3 of the Agreement is replaced with the following: TENANT shall have the option to extend the term of this Agreement for seven (7) additional consecutive five (5) year periods, and then for one (1) additional period commencing on November 19, 2038, and expiring twenty-five (25) years from the Effective Date of the Second Amendment (as defined in the Second Amendment). The parties agree that the intent of the foregoing is to extend the term of the Agreement to expire twenty-five (25) years from the Effective Date of this Second Amendment. 3. As additional consideration for amending the Agreement in accordance with this Second Amendment, on November 1, 2018, the annual rent shall increase to Forty-One Thousand Four Hundred and 12/100 Dollars ($41,400.12) per year. Following such increase, the annual rent shall continue to adjust pursuant to the terms of the Agreement. This rent increase replaces and is in lieu of the regular rent increase scheduled to occur pursuant to the Agreement in 2018. 4. Section 4 of the Agreement is amended by deleting the rent for the fourth rental term and the sentence at the end of Section 4 and adding the following in its place: Commencing on November 1, 2019, and every year thereafter (each an "Adjustment Date"), the annual rent shall increase by an amount equal to three and one-half percent(3.5%) of the annual rent in effect for the year immediately preceding the Adjustment Date. Beginning November 1, 2018, the parties agree that rent will be paid annually. 5. Section 5 of the Agreement is amended by replacing "fourth (4th)" in each place it appears with"final". 6. The parties agree to amend the description of the Property to be as shown as the "Lease Area" in Exhibit A attached hereto and incorporated herein, and described as the "Lease Area" by metes and bounds on Exhibit B attached hereto and incorporated herein, and Landlord does hereby lease same to Tenant for those uses provided for in the Agreement. Exhibit A and Exhibit B attached to this Second Amendment shall replace any and all descriptions of the Property. 7. (a) The parties agree to amend the description of the Right of Way, as same was amended in the First Amendment, to reflect the access and utility easement shown as the "Access/Utility Easement" in Exhibit A attached hereto and described as the "Access/Utility Easement" by metes and bounds in Exhibit B attached hereto, and Landlord does hereby grant said easement for those uses provided for and in accordance with the terms of the Agreement, Site Name: Chapel Hill 368-207 Crown BU: 813283 Cingular Site: 10017380 2 PPAB 4180506V3