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Agenda - 02-16-2021; 8-d - Designation of 401 Valley Forge Road, Hillsborough, NC as Surplus Property
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Agenda - 02-16-2021; 8-d - Designation of 401 Valley Forge Road, Hillsborough, NC as Surplus Property
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2/11/2021 8:47:22 AM
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BOCC
Date
2/16/2021
Meeting Type
Business
Document Type
Agenda
Agenda Item
8-d
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Agenda 02-16-2021 Virtual Business Meeting
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\Board of County Commissioners\BOCC Agendas\2020's\2021\Agenda - 02-16-2021 Virtual Business Meeting
Minutes 02-16-2021 Virtual Business Meeting
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\Board of County Commissioners\Minutes - Approved\2020's\2021
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6 <br /> 2. The expiration date of the Lease shall be September 30, 2027. <br /> 3. The Rent for the premises for the Lease period shall be as follows: <br /> Monthly: $24,500 Annually: $294,000 Full Term:$2,940,000 <br /> 4. Subject to County approval the Tenant will have the right to execute two(2)consecutive <br /> renewal options for a Term of five (5)years each for consideration to be mutually agreed upon <br /> by the County and the Tenant at a time preceding the contemplated renewal period: <br /> Renewal option ❑ne (1): October 1, 2027—September30, 2032 <br /> Renewal option two (2): October 1,2032—September 30, 2037 <br /> 5. The Tenant will ensure a facility roof replacement is completed no later than September 30, <br /> 2020 in accordance with the Lease. Specifications for the roof replacement will be reviewed and <br /> approved by the County prior to replacement; approval will not be unreasonably withheld. <br /> 5. In all other respects said Lease Agreement shall remain in full force and effect unchanged and <br /> shall not be altered in any way by this modification. <br /> (SIGNATURE PAGE TO FOLLOW] <br />
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