Orange County NC Website
5 <br /> 2. The Owner further grants to the County during the Term, including <br /> any extension thereof, the exclusive right at the County's option, to <br /> purchase the Premises on the same terms and at the same price as <br /> any bone fide offer, and each time any such bona fide offer is <br /> received, the Owner shall immediately notify County in the <br /> manner prescribed in Section 8 of this Lease Agreement, with full <br /> details of such offer including a copy of the same (the name and <br /> address of the offeror may be omitted if County is unwilling or <br /> unable to maintain the name and address of the offeror <br /> confidential). County shall have ninety(90) days from the date of <br /> notice in which to elect to exercise this right of first refusal. No <br /> sale or transfer of title to the Premises shall be binding on the <br /> Lessee unless and until these requirements are fully complied with. <br /> This provision shall not pertain to a sale, transfer, exchange, or <br /> assignment of the Premises to a Managing Member of Owner <br /> company,provided the Managing Member agrees to acquire the <br /> Premises subject to the terms of this Lease as described in sub- <br /> paragraph 4.(a)(i), above. <br /> b. The right of first refusal herein granted shall be continuing and pre-emptive, <br /> binding on Owner's successors or assigns, and the failure of County to exercise this right in any <br /> one case shall not affect the County's right to exercise the right of first refusal in other cases <br /> thereafter arising during the Term or any extension of the Term. <br /> c. Upon Owner and County reaching a binding written agreement for the purchase <br /> and sale of the Premises, or upon Owner's receipt of County's notice of election to exercise any <br /> right of first refusal granted herein, County shall have a reasonable time in which to examine title <br /> to the Premises, but in no event more than ninety(90) days and upon completion of such <br /> examination, if the title is found to be satisfactory, County shall tender the purchase price to <br /> Owner and Owner shall thereupon deliver to County a good and sufficient Warranty Deed <br /> conveying the Premises to the Lessee free and clear of all encumbrances. The rent shall be pro- <br /> rated between the Owner and County as of the date of the closing of the purchase and sale of the <br /> Premises. Current year's ad valorem property taxes on the Premises shall be paid or prepaid by <br /> Owner(grantor)with County's (grantee's)pro-rated share of those taxes added to the agreed <br /> purchase price. <br /> 5. Improvements and Maintenance. <br /> a. The County shall have the right to enter the Premises upon the execution <br /> and recording of this Lease Agreement and prior to the effective date of the lease and thereafter <br /> during the lease term to make any and all temporary improvements to the premises as deemed <br /> necessary and desirable to the County for the intended use of the premises, and to make <br /> permanent improvements as deemed necessary and desirable to the County for the intended use <br />