Orange County NC Website
Browse       Search
LEASE PROVISIONS INFORMATION SHEET <br /> TYPE OF LEASE : Q New Renewal Expansion Option Change/Adj . <br /> BUSINESS NAME . Orange County <br /> TENANT : Orange County , a NC political subdivision <br /> ADDRESS : P . O . Box 8181 <br /> ( 0 ) 919 -245 -2625 F ) <br /> ( C ) 919 -619 - 8859 ( H ) <br /> ( e - mail )—adorman@orangecountync . gov <br /> PROPERTY ADDRESS : Europa Center — Suite 101 <br /> 100 Europa Dr . , Chapel Hill , NC 27517 <br /> LANDLORD : EUROPA CENTER , LLC <br /> NOTICE ADDRESS : Avison Young - NC , LLC <br /> 100 Europa Dr — Suite 190 , Chapel Hill , NC 27517 <br /> RENT PAYMENTS . Europa Center , LLC , c/o Avison Young - NC , LLC <br /> P . O . Box 900002 , Raleigh , NC 27675 - 9000 <br /> LEASE TERM : Three ( 3 ) Years RENT PSF : $ 21 . 00 <br /> RENTABLE SQ . FTG : 107615 LEASE SIGNED : January y , 2020 <br /> LEASE COMMENCES : March 1 , 2020 MOVE - IN DATE : March 1 , 2020 <br /> RENT COMMENCES : March 1 , 2020 LEASE EXPIRES : February 28 , 2023 <br /> MONTHLY BASE RENT : $ 18 , 576025 ANNUAL BASE RENT : $ 222 , 915 . 00 <br /> RENT ADJUSTMENTS . An annual fixed increase of Three percent ( 3 % ) to the Base Rent on the lease <br /> anniversary date . - See RENT SUMMARY for schedule . <br /> OPERATING EXPENSE ADJUSTMENT : Base year is established as 2020 . <br /> PRORATION : Calculation of Rents is based on the annual rent amount divided by a 365 day year . <br /> OPTION TO RENEW : Provided the Tenant is not in default of any terms of this lease , at the end of the Initial <br /> Term , this Lease may be extended for Two ( 2 ) terms of One ( 1 ) year each , commencing at the expiration of <br /> the initial term with Ninety ( 90 ) days prior written notice . <br /> ALL RENTS ARE DUE ON THE V DAY OF EACH MONTH : Any payment not received by the 5th of the <br /> month will incur an automatic late fee of Five ( 5 % ) percent . <br /> SECURITY DEPOSIT : An amount equal to one ( 1 ) month rent of $ N /A will be held as a Refundable Security <br /> Deposit . <br /> PAID BY LANDLORD : Property Taxes , Insurance , Exterior and Common Area Maintenance , All Utilities <br /> including Common Area ( Electrical , Water & Sewer) , Security , Management , HVAC Maintenance , Janitorial , <br /> Trash Removal and Extermination . <br /> PAID BY TENANT : Fire & Extended Coverage Insurance for tenant contents , Commercial General Liability <br /> Insurance for Tenant , all telephone , cable , internet , etc . installation costs and monthly service charges , and <br /> pro - rata share of Operating Expense increases over base year . <br /> Revised 3/ 12 <br /> Page 1 - THE EUROPA CENTER Lease / <br /> Land ford Tenant <br /> Initials Initials <br />