2019-181-E AMS - 105 West Corbin Street LLC Sinclair Station lease

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DocuSign Envelope ID:234B0168-7DD8-4F95-A2D1-25D37F4A4C22 COMMERCIAL LEASE AGREEMENT THIS COMMERCIAL LEASE AGREEMENT ("Lease") is made and entered into as of the Lease Date (as hereinafter defined) by and between 105 WEST CORBIN STREET, LLC, a North Carolina limited liability company ("Landlord"); and ORANGE COUNTY, NORTH CAROLINA, a body politic and corporate and a political subdivision of the State of North Carolina("Tenant"). FOR AND IN CONSIDERATION of the terms, covenants and conditions set forth below and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto covenant and agree as follows: 1. PREMISES. Subject to each of the terms, covenants and conditions set forth below, Landlord leases and rents unto Tenant, and Tenant leases and rents from Landlord, all of that certain real property located in Orange County,North Carolina,having the following physical address and description (the"Premises): Address: 105 West Corbin Street, Suite 103,Hillsborough,NC 27278 Additional Description: Approximately 1,895 square feet. (X) See attached Exhibit A for additional description of the Premises. When and as used in this Lease, the term "Building" shall mean (a) the building in which the Premises are located if the Premises are less than the entire building, or(b) any commercial use building, the entirety of which constitutes all or a part of the Premises. Unless otherwise expressly provided in this Lease,Landlord shall deliver the Premises to Tenant, and Tenant shall accept the Premises from Landlord, in such AS-IS condition as the Premises exist on the date of this Lease. 2. TERM. The term of this Lease shall commence on March 20, 2019 (the "Commencement Date"), and shall end at midnight (local time) on April 1, 2020, unless sooner terminated as hereinafter provided, or unless extended by mutual written agreement of the parties. When and as used in this Lease, "Lease Year" shall mean a twelve (12) month period beginning on April 1 of each calendar year during the Term. When and as used in this Lease, "Term" shall mean the initial term of this Lease and the period of any renewal and extension of the initial term that the parties may hereafter agree upon in writing. 3. RENT. Tenant shall pay to Landlord or Landlord's designated agent, without demand, deduction or set off, initial annual rent for the Premises in the amount of $30,000.00, payable in equal monthly installments in the amount of$2,500.00 each, in advance, commencing on April 1, 2019, and continuing on the first day of each successive month thereafter during the Term. Upon Tenant's execution and delivery of this Lease to Landlord, Tenant shall pay to Landlord the sum of$1,371.00 as a Partial Month's rent for the month of March, 2019 (March 20 through March 31). The amount of rent due for any period during the Term which is less than one (1) full calendar month (a "Partial Month") shall be determined by multiplying the amount of rent due for one (1)full calendar month(based upon the then prevailing monthly installment of annual rent) by a fraction which shall have as the numerator the actual number of days in such Partial Month and as the denominator the actual number of days in the calendar month during which such Partial Month occurs. On each Lease Year Anniversary, the annual rental payable hereunder(and each corresponding monthly installment of annual rent) shall be increased, if at all, as follows(if checked): 1