1997 S Purchasing - Builders Supply lease agreement

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Return to : Geoff( E . Gledhill , P . O . Drawer 1529 ( llsborough , NC 27278 NORTH CAROLINA ORANGE COUNTY THIS LEASE AGREEMENT made and entered into as of • the 3rd day of June 19 97 by and between the COUNTY OF ORANGE , NORTH CAROLINA , a political subdivision of the State of North Carolina , having its principal office- at 208 South Cameron Street , Hillsborough , North Carolina , hereinafter sometimes referred to as " Landlord , " and BUILDERS ' SUPPLY & LUMBER COMPANY , INC . , a Michigan corporation having its principal office in Fredrick , Maryland , hereinafter referred to as " Tenant "' WHEREAS , on or about October 1 , 1997 , Landlord anticipates becoming the owner of the property , including a building and other structures and facilities located thereon , which is described in Exhibit A attached hereto and made a part hereof ( which property is herein sometimes referred to * as " the Premises " ) , as provided in and explained in the DECLARATION which * is Exhibit B . and WHEREAS , it is anticipated that the present tenant of the Premises , Georgia - Pacific Corporation , will not exercise it.s right to renew its lease beyond October 1 , # 1997 and will vacate the premises no later than October 1 , 1997 , and WHEREAS , Tenant has expressed an interest in leasing the Premises from Landlord on a long term basis ; and WHEREAS , on April 1 , 1996 , Landlord conducted a public hearing pursuant to North Carolina General Statutes § 158 - 7 . 11 . . . . . . . . followa:.ng. ...publ. ication... . of . . .not .i. ce. . o .f. . . . that public _ - hearing at least ten days before the hearing was held , for the purpose of receiving public comment on a proposed long term lease between Landlord and Tenant ; and . WHEREAS , at that public hearing information was provided by or on behalf of Tenant as follows . 1 . approximately 60 to 70 employees will be hired by Tenant and employed at the Premises during the first year of occupancy by Tenant ; approximately 90 to . 100 employees will be hired and employed at the Premises by Tenant within two to three years following occupancy of the property by Tenant ; 20 wage rates for the employees of Tenant to be employed at the Premises are projected to average $ 12 . 80 per hour for all employees and $ 9 . 13 per hour excluding salaried , managerial / supervisor positions ; 3 . Tenant will invest approximately $ 8 . 6 million in the local economy of Landlord within the first three years of its occupancy of the Premises . Specifically , it will invest $ 2 . 14 BK I 1 PG