Agenda - 8-e - Lease Modification for Hillsborough Commons

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5 Attachment 2 Exhibit F FORM OF TENANT ESTOPPEL Purchaser: [Boyd Watterson Acquisitions, LLC] or its nominee Tenant: Orange County North Carolina Demised Premises: Building comprising approximately 66,444 square feet at 113 Mayo Street, Hillsborough, NC (the "Demised Premises"); a portion of Hillsborough Commons Shopping Center. TENANT CERTIFIES TO PURCHASER, SOLELY AS OF THE DATE HEREOF, THAT: 1. Tenant and Hillsborough Commons LLLP ("Landlord") entered into a Lease for the lease of the Premises dated July 25, 2008 (the "Original Lease"), as amended by the Lease Modification dated November 12, 2015 and as amended by the Lease Modification dated (the "Lease Modifications" and collectively the Original Lease, the"Lease"). 2. Tenant is the sole tenant of the Demised Premises under the Lease. 3. The current base rent is $71,705 per month. Tenant's proportionate share of the shopping center is 100%. The base year stop for the landlord's share of annual Real Estate Taxes, Insurance and Operating Expenses (as defined in the Lease) is $136,687.32 per annum. 4. The current Lease term expires on January 21, 2024; following which Tenant has three (3) optional five (5)-year extensions. 5. The Lease is in full force and effect and has not be assigned, modified, supplemented, altered or, amended in any respect except as set forth above and is the only lease or agreement between Tenant and Landlord affecting the Premises. Tenant is not entitled to receive any concession, reimbursement or benefit (rental or otherwise) or similar compensation in connection with renting the Premises other than _None_. If none, state "None." 6. The Lease is valid and in full force and effect and Tenant is not presently in default under the Lease and no event has occurred and no condition exists which, with the giving of notice or the passage of time or both, would constitute a default by Tenant under the Lease, except_None_. If none, state "None." 7. Tenant currently has no defense, set-off against the payment of rent or other amounts due from Tenant to Landlord under the Lease, or counterclaim against Landlord arising out of the Lease or in any way relating to the Lease.