Orange County NC Website
8 <br /> leakage; and (ii) the Property and Building are in compliance with all Laws (as defined in Paragraph 23 <br /> below), including any applicable building codes, regulations, or ordinances which may exist with regard <br /> to the Building,or any part thereof; and (b)the Property is free of all lead-based paint,asbestos or other <br /> hazardous substances, as such term may be defined under any applicable federal, state or local law. If a <br /> breach of the representations and warranties contained in this Paragraph 2 is discovered at any time <br /> during the Term, LESSOR shall, promptly after receipt of written notice from LESSEE setting forth a <br /> description of such non-compliance, rectify same at LESSOR's expense. <br /> 3. TERM; RENTAL. <br /> This Agreement shall be effective as of the date of execution by both Parties (the <br /> "Effective ©ate"), provided, however, the initial term shall be for five (5) years (the "Initial Term") and <br /> shall commence on the first day of the month following the day that LESSEE commences installation of <br /> the equipment on the Premises (the "Commencement Date") at which time rental payments shall <br /> commence and be due at a total annual rental of One Thousand Eight Hundred and 00/100 Dollars <br /> ($1,800.00)to be paid in advance annually on the Commencement Date and on each anniversary of it in <br /> advance,to LESSOR or to such other person, firm or place as LESSOR may,from time to time, designate <br /> in writing at least thirty (30) days in advance of any rental payment date by notice given in accordance <br /> with Paragraph 17 below. LESSOR and LESSEE agree that they shall acknowledge in writing the <br /> Commencement Date and the initial rental payment may not actually be sent by LESSEE until ninety(90) <br /> days after LESSEE's receipt of the written acknowledgement from LESSOR. <br /> Upon agreement of the Parties, LESSEE may pay rent by electronic funds transfer and in such <br /> event, LESSOR agrees to provide to LESSEE bank routing information for such purpose upon request of <br /> LESSEE. <br /> LESSOR hereby agrees to provide to LESSEE certain documentation (the "Rental <br /> Documentation") including without limitation: (i) documentation evidencing LESSOR's good and <br /> sufficient title to and/or interest in the Property and right to receive rental payments and other benefits <br /> hereunder; (ii) a completed Internal Revenue Service Form W-9, or equivalent for any party to whom <br /> rental payments are to be made pursuant to this Agreement; and (iii) other documentation requested <br /> by LESSEE and within fifteen (15) days of obtaining an interest in the Property or this Agreement, any <br /> assignee(s), transferee(s) or other successor(s) in interest of LESSOR shall provide to LESSEE such Rental <br /> Documentation. Delivery of Rental Documentation to LESSEE shall be a prerequisite for the payment of <br /> any rent by LESSEE and notwithstanding anything to the contrary herein, LESSEE shall have no obligation <br /> to make any rental payments until Rental Documentation has been supplied to LESSEE as provided <br /> herein. <br /> Within thirty (30) days of a written request from LESSEE, LESSOR or any assignee(s) or <br /> transferee(s) of LESSOR agrees to provide updated Rental Documentation. Delivery of Rental <br /> Documentation to LESSEE shall be a prerequisite for the payment of any rent by LESSEE to such party <br /> and notwithstanding anything to the contrary herein, LESSEE shall have no obligation to make any rental <br /> payments until Rental Documentation has been supplied to LESSEE as provided herein. <br /> 2 <br /> 4849-2188-8345v8 <br /> 3000001-101524 <br />