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LEASE AGREEMENT
<br /> PARTIES
<br /> 1 . THIS LEASE AGREEMENT made and entered into on January 24 , 2020 by and between Charles J.
<br /> Coates and Geraldine Dawson, 5001 Cole Mill Road, NC 27705 (hereinafter referred to as Landlord)
<br /> and Orange County, North Carolina (hereinafter referred to as "Tenant")
<br /> PREMISES
<br /> 2 . Landlord leases to Tenant, and Tenant leases from Landlord under the terms and conditions set forth in
<br /> this Lease Agreement, certain premises consisting of a lot of approximately 12, 100 square feet
<br /> including a building of approximately 4008 square feet with adjoining parking lot and entrances
<br /> (hereinafter referred to as "Demised Premises") in Chapel Hill, State of North Carolina, as described
<br /> legally as Tract 704410, Map 7 . 85 . M. 23 , Chapel Hill, Orange County, NC, located at 308 W. Franklin
<br /> St. , Chapel Hill, NC 27516 .
<br /> REPAIRS AND POSSESSION
<br /> 3 . Landlord warrants that it is the Owner of the tract of land described in Premises
<br /> (a. ) Tenant herein agrees to hold Landlord harmless for any outstanding bills or invoices that might
<br /> occur pursuant to Tenant' s repair, upfit or improvement of said Demised Premises . Further, Tenant
<br /> shall not allow any outstanding bills incurred for labor employed by Tenant and/or materials used for
<br /> said upfit of Demised Premises to remain unpaid. Tenant will hold Landlord harmless for any loss,
<br /> cost, damage and/or expense of every kind, including any resulting attorney' s fees , directly or indirectly
<br /> incurred as a result or on the account of any materialman ' s lien or claim of lien that might be placed on
<br /> the Demised Premises as a result of Tenant' s improvements, repairs or upfit. Rent shall commence as
<br /> of June 1 , 2020 (hereinafter called "Rental Commencement Date") regardless of whether Tenant has
<br /> opened for business .
<br /> (b . ) Tenant shall pay all of the utility charges for the Demised Premises after delivery of possession
<br /> thereof by Landlord. Tenant agrees to submit to Landlord plans and specifications covering all
<br /> improvements or upfit which Tenant proposes to do in the Demised Premises . Such plans and
<br /> specifications shall be prepared in such detail as Landlord may require, and Tenant agrees not to
<br /> commence work upon any of the aforesaid Tenant' s work until Landlord has approved such plans and
<br /> specifications in writing. Landlord agrees to act with reasonable promptness with respect to such plans
<br /> and specifications .
<br /> (c) By occupying the Demised Premises after the delivery of possession, to perform improvement or
<br /> upfit work or for any other purpose, Tenant shall be deemed to have accepted the same and to have
<br /> acknowledged that the Demised Premises are in the condition required by this Lease Agreement .
<br /> (d) If Tenant desires to change the wiring for telegraphic, telephonic, telecommunication, burglar alarm
<br /> or signal service within the Demised Premises, Tenant agrees to submit to Landlord plans and
<br /> specifications describing where and how connections for said wiring for such services shall be
<br /> introduced and run. Such plans and specifications shall be prepared in such detail as Landlord may
<br /> require, and Tenant agrees not to commence work upon any of the aforesaid Tenant' s work until
<br /> Landlord has approved such plans and specifications in writing. Without such approval, no boring,
<br /> cutting or installation of wires or cables is permitted. Landlord agrees to act with reasonable
<br /> promptness with respect to such plans and specifications .
<br /> (e) The Tenant shall be responsible for the locking of doors in and to the Demised Premises . Any
<br /> damage resulting from neglect of this clause shall be paid by Tenant.
<br /> USE AND OPERATION
<br /> 4 . (a) Tenant shall use and occupy the Demised Premises solely for the purpose as the Chapel Hill Orange
<br /> County Visitors Bureau
<br /> (b) Tenant agrees that the Demised Premises shall not be used, assigned or subleased for any illegal use .
<br /> (c) Tenant shall not do or permit to be done in the Leased Demised Premises or Site, or bring or keep
<br /> anything into the Leased Demised Premises or Site, which shall in any way increase the rate of fire
<br /> insurance on the Building, or on the property kept in the Building .
<br /> (d) Tenant shall not, keep, use, store, or dispose of, substances designated as or containing components
<br /> designated as hazardous, dangerous, toxic or harmful and/or subject to regulation under any federal,
<br /> state or local law, regulation or ordinance, on or around the Leased Demised Premises .
<br /> TERM
<br /> 5 . The initial term of this Lease Agreement shall commence on April 1 , 2020 and expire on March 31 ,
<br /> 2030 .
<br /> RENTAL
<br /> 6 . (a) During the term of this Lease, Tenant covenants and agrees to pay to Landlord the monthly rental
<br /> amounts shown in Lease Provisions . (In consideration of the Tenant completing the noted repairs /
<br /> improvements to the property, the Tenant will pay no rent for the first two (2) months) . Said monthly
<br /> Inif
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<br /> (308 W. Franklin St.) L ndlord Tenant
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