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NORTH CAROLINA <br />COUNTY OF ORANGE LEASE AGREEMENT RENEWAL <br />WHEREAS a lease agreement was made and entered into as of the sixth day of July, 1987, by and <br />between the County of Orange, (the County) and Grey Moody (the Owner) far space to be used as <br />offices for County and Court functions at 103 Laurel Avenue, Carrboro, North Carolina; <br />WHEREAS, the County and the Owner mutually agree to the following: <br />1. The lease agreement will be continued for a period of three years commencing on July 1, <br />2005 and ending at 12:00 midnight on June 30, 2008 <br />2. Section 3 (b), Rent Schedule, shall read as follows: <br />Rent during the three year renewal shall be payable in monthly installments on the first day of <br />each month during the term of this (ease renewal pursuant to the following schedule: <br />July 1, 2005 through June 30, 2006: $48,244 ($4,022.33 monthly) <br />July 1, 2006 through June 30, 2007: $49,691 ($4,140.92 monthly) <br />.luly 1, 2007 through June 30, 2008: $51,182 ($4,265.16 monthly) <br />3. The County shall continue to reimburse the Owner for real estate taxes assessed against <br />the leased premises within 30 days of receipt of invoice from the Owner and proof of payment by the <br />Owner. <br />4. All other terms and conditions shall remain the same. <br />This agreed to the day of , 2005. <br />Grey Moody, Owner <br />County: <br />Moses Carey, Jr„ Chair <br />ATTEST: <br />Donna S. Baker, Clerk to the Board <br />