Orange County NC Website
Browse       Search
Mail after Recording to : Steven A . Arndt , P . O . Box 8181 Hillsborough , NC 27278 <br /> STATE OF NORTH CAROLINA <br /> MEMORANDUM OF LEASE <br /> ORANGE COUNTY <br /> THIS MEMORANDUM OF LEASE ( " Memorandum " ) , made and entered into as of the last date set forth in the <br /> notary acknowledgments below (the " Effective Date" ) , by and between Europa Center, LLC ( " Landlord " ) and <br /> ORANGE COUNTY , a political subdivision of the State of North Carolina , hereinafter referred to as <br /> ( "Tenant" ) . Landlord and Tenant maybe collectively referred to hereinafter as the " Parties" or individually as the <br /> Party. <br /> WITNESSETH . <br /> WHEREAS , the Parties executed a Lease Agreement for the Leased Premises ; and <br /> WHEREAS , the Parties desire to record this Memorandum for the purpose of providing record notice <br /> of the existence of the Lease and certain of the terms contained therein . <br /> NOW, THEREFORE , for and in consideration of the terms , covenants , and conditions set forth in the <br /> Lease and other good and valuable consideration , the receipt and sufficiency of which is hereby <br /> acknowledged , Landlord and Tenant hereby acknowledge and declare as follows : <br /> 1 . Leased Premises . Europa Center, Suite 101 , 100 Europa Drive , Chapel Hill , NC 27517 , a building <br /> suite containing approximately 10 , 615 square feet . <br /> 2 . Term . The term of the Lease shall be for a period of three years and shall commence on the earlier <br /> of: 1 ) the date that Tenant takes possession of any part of the Rented Space , or 2 ) March 1 , 2020 . The term <br /> shall terminate at 11 : 59 p . m . on February 28 , 2023 (the "Term " ) . At Tenant' s option the Lease may be <br /> extended for two terms of one year each . <br /> 3 . Rent . Tenant shall pay to Landlord as annual base rent for the Premises $ 222 , 915 . 00 commencing <br /> March 1 , 2020 subject to an increase in annual base rent of 3 . 0 percent per Lease Year after the first year. <br /> 4 . Incorporation . All of the terms , covenants , and conditions contained in the Lease are incorporated <br /> herein by reference . Should the terms , covenants , and conditions contained in this Memorandum conflictwith <br /> the terms , covenants , and conditions contained the Lease , the terms , covenants , and conditions of the Lease <br /> shall control . <br /> IN WITNESS WHEREOF the Parties have caused this Memorandum to be duly executed and <br /> recorded as of the effective date . <br /> TENA ORANGE CO TY <br /> By : <br /> STATE OF NORTH CAROLINA <br /> COUNTY OF ORANGE <br /> I , �� t.. j� i.� , a Notary Public for County, North Carolina , do hereby certify <br /> that 1?4 riot personally appeared before me this day and acknowledged the due <br /> execution of the foregoing instrument . <br /> WITNESS` 4 'ana a I ial seal , this the > + day of L .j6i ?. ilI�J , 2020 . <br /> p <br /> iy <br /> Notary Public <br /> SEAL Prange _ � Aotary Public <br /> = County = My Commission Expires : <br /> J 1 <br /> 2 � � <br /> oR <br /> CA <br /> LAND RD : <br /> By . <br /> Y � <br /> age 18 - THE EUROPA CENTE LeaseCX <br /> Land ford Tenant <br /> Initials Initials <br />