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2019-229 AMS - Hillsborough Commons lease amendment
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2019-229 AMS - Hillsborough Commons lease amendment
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Entry Properties
Last modified
5/22/2019 9:23:11 AM
Creation date
5/20/2019 4:39:57 PM
Metadata
Fields
Template:
Contract
Date
4/17/2019
Contract Starting Date
9/20/2018
Contract Ending Date
1/21/2024
Contract Document Type
Lease
Agenda Item
4/16/19; 8-e
Amount
$136,687.32
Document Relationships
2019-353 AMS - PNC Bank Hillsborough Commons SNDAA
(Message)
Path:
\Board of County Commissioners\Contracts and Agreements\General Contracts and Agreements\2010's\2019
Agenda 04-16-2019 8-e - Lease Modification for Hillsborough Commons
(Attachment)
Path:
\Board of County Commissioners\BOCC Agendas\2010's\2019\Agenda - 04-16-19 Regular Meeting
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Exhibit F <br /> FORM OF TENANT ESTOPPEL <br /> Purchaser : [Boyd Watterson Acquisitions , LLC ] or its nominee <br /> Tenant : Orange County North Carolina <br /> Demised Premises : Building comprising approximately 66 , 444 square feet at 113 Mayo <br /> Street , Hillsborough, NC (the " Demised Premises " ) ; a portion of Hillsborough Commons <br /> Shopping Center . <br /> TENANT CERTIFIES TO PURCHASER, SOLELY AS OF THE DATE HEREOF , THAT . <br /> 1 . Tenant and Hillsborough Commons LLLP ( "Landlord") entered into a Lease for the lease <br /> of the Premises dated July 25 , 2008 (the " Original Lease " ) , as amended by the Lease <br /> Modification dated November 12 , 2015 and as amended by the Lease Modification dated <br /> Apr , k %n , sup ig( (the " Lease Modifications " and collectively the Original Lease , <br /> the I "Lease ") . <br /> 2 . Tenant is the sole tenant of the Demised Premises under the Lease . <br /> 3 . The current base rent is $ 71 , 705 per month . Tenant ' s proportionate share of the shopping <br /> center is 100 % . The base year stop for the landlord ' s share of annual Real Estate Taxes , <br /> Insurance and Operating Expenses (as defined in the Lease) is $ 136 , 687 . 32 per annum . <br /> 4 . The current Lease term expires on January 21 , 2024 ; following which Tenant has three <br /> ( 3 ) optional five ( 5 ) - year extensions . <br /> 5 . The Lease is in full force and effect and has not be assigned , modified , supplemented , <br /> altered or, amended in any respect except as set forth above and is the only lease or <br /> agreement between Tenant and Landlord affecting the Premises . Tenant is not entitled to <br /> receive any concession , reimbursement or benefit (rental or otherwise) or similar <br /> compensation in connection with renting the Premises other than _None If none , <br /> state "None . " <br /> 6 . The Lease is valid and in full force and effect and Tenant is not presently in default under <br /> the Lease and no event has occurred and no condition exists which, with the giving of <br /> notice or the passage of time or both, would constitute a default by Tenant under the <br /> Lease , except _None _. If none , state "None . " <br /> 7 . Tenant currently has no defense , set- off against the payment of rent or other amounts due <br /> from Tenant to Landlord under the Lease , or counterclaim against Landlord arising out of <br /> the Lease or in any way relating to the Lease . <br />
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