2008-125 Purchasing - Telesis Construction Management Gateway lease

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PIN 9874-054501 .002 Prepared by and return to : 9874-054501 . 003 William D . Bernard Brown & Bunch, PLLC 101 N. Columbia Street Chapel Hill, NC 27514 STATE OF NORTH CAROLINA MEMORANDUM OF LEASE COUNTY OF ORANGE THIS MEMORANDUM OF LEASE ( "Memorandum") is made and entered into effective as of the 19" day of February, 2008, by and between TELESIS CONSTRUCTION MANAGEMENT, LLC , a North Carolina limited liability company, 1000 Corporate Drive, Suite 109 , Hillsborough, North Carolina 27278 ( "Lessor"), and ORANGE COUNTY, NORTH CAROLINA, a body politic and corporate and a political subdivision of the State of North Carolina, P . O . Box 8181 , Hillsborough, North Carolina 27278 ("Lessee") . WITNESSETH THAT: WHEREAS , Lessor is the owner of those certain commercial condominium units located in Hillsborough, Orange County, North Carolina, and more particularly described on the attached EXHIBIT A which is incorporated herein by this reference (individually and collectively the "Units") ; and WHEREAS, Lessor and Lessee have made and entered into that certain Lease Agreement with respect to the Units having an Effective Date of February 28 , 2007, as same may be amended and/or modified from time to time (the "Lease" ) ; and WHEREAS , the parties desire to record this Memorandum for the purpose of providing record notice of the existence of the Lease and certain of the terms contained therein. NOW, THEREFORE , for and in consideration of the terms, covenants and conditions set forth in the Lease and other good and 4 valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Lessor and Lessee hereby acknowledge and declare as follows . 1 . Pursuant to the terms of the Lease, Lessor has leased each of the Units to Lessee, and Lessee has leased each of the Units from Lessor, for a term commencing on February 19 , 2008 and expiring at 11 : 59 : 59 p .m. (local time) on February 20, 2009 .