Orange County NC Website
term or additional terms , if any , are herein sometimes referred <br /> to as the " Term " or the " Lease Term . " <br /> e . Landlord agrees to deliver to Tenant sole and <br /> exclusive possession of the Premises ( subject to the right of <br /> Landlord to enter thereon for inspection purposes and otherwise <br /> as provided herein ) at the commencement date of the original <br /> term . And Tenant agrees to accept possession of the property <br /> upon such delivery . Landlord covenants and agrees that .it will <br /> not take any action , other than pursuant to Paragraph 11 of this <br /> Lease , to prevent Tenant from having quiet and peaceable <br /> possession and enjoyment of the property during the Term and <br /> will at the request of Tenant , and at the cost of Tenant , <br /> cooperate with Tenant in order that Tenant may have quiet and <br /> peaceable possession and enjoyment of the property . <br /> f . Landlord hereby grants to Tenant a right of first <br /> refusal to purchase the Premises , which must be exercised , if at <br /> all , in . the manner hereinafter set forth . In the event that <br /> Landlord receives a bona fide offer to purchase the Premises on <br /> price , terms and conditions which . it is willing to accept , it <br /> shall give prompt written notice of such offer to Tenant ( " ROFR <br /> Notice " ) . The ROFR Notice shall include a copy of such offer , <br /> provided that ' Landlord may delete the name of the prospective <br /> purchaser . Within fourteen ( 14 ) calendar days from the date such <br /> ROFR Notice is given , Tenant may exercise its right of first <br /> refusal by executing and delivering to Landlord a written <br /> contract containing the same price , terms and conditions as set <br /> forth in the RO.FR Notice , with no material additional terms or <br /> conditions . . Such contract shall be signed and accepted by <br /> Landlord and the parties shall proceed to close in accordance <br /> with the terms thereof . In the event that Tenant fails to <br /> exercise - this- option as - herein . provided ,- and Land-lord. . closes - the . . . . . <br /> sale of the Premises substantially in accordance with the terms <br /> of the ROFR Notice , Tenant ' s right of first refusal shall , <br /> terminate and shall not be exercisable as to any future sale by <br /> Landlord , its successors or assigns . In the event that Tenant <br /> fails to exercise this option as provided herein , and Landlord <br /> does not close the sale of the Premises substantially in <br /> accordance with the terms of the ROFR Notice , Tenant ' s right of <br /> first 'refusal shall remain in effect and Landlord shall not sell <br /> the Premises* wlthout again submitting the terms of the proposed <br /> sale to Tenant for Tenant ' s acceptance or approval in accordance <br /> with the terms of this paragraph . • <br /> 3 . Rent and Other Consideration . <br /> a . Tenant shall pay to Landlord the sum of One <br /> Hundred Five Thousand Dollars ( $ 105 , 000 ) per annum during the <br /> original term , payable in monthly installments of Eight Thousand <br /> Seven Hundred Fifty Dollars ( $ 8 , 750 ) each due on the first day of <br /> each month , in advance , during the original term of this Lease <br /> except that payment for the first such monthly installment shall <br /> be made by Tenant contemporaneously with notice , to Tenant from <br /> 4 <br />