Agenda 10-19-2021; 8-g - Approval of a Lease for the Historic Norwood Law Office – 135 Court St., Hillsborough, to the Preservation Fund of Hillsborough, Inc.

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DRAFT Attachment 2 5 STATE OF NORTH CAROLINA COUNTY OF ORANGE LEASE THIS LEASE "Lease", made and entered into as of the 1st day of November, 2021, by and between Orange County, hereinafter referred to as "County," and The Preservation Fund of Hillsborough, Inc., hereinafter referred to as "Tenant;" WITNESSETH: THAT FOR and in consideration of the mutual covenants and conditions hereinafter set forth, the parties hereto do hereby agree as follows: 1. Premises. County does hereby lease and let unto Tenant and Tenant does hereby accept as Tenant those certain premises designated as the Norwood-Jones Law Office, 135 Court Street, Hillsborough, Orange County, North Carolina ("Lease Premises," "Premises," or "Leased Premises"), situated on that parcel having PIN 9874068114 and as more particularly shown on EXHIBIT A appended hereto. 2. Acceptance of Premises. The Tenant represents that the Leased Premises, the sidewalks and structures adjoining the same, any subsurface conditions thereof, and the present uses and non-uses thereof have been examined by the Tenant. The Tenant accepts the same in the condition in which they now are without representation or warranty, express or implied, in fact or by law, by the County, the nature, condition or usability thereof, or the uses to which the Leased Premises may be put. Provided, County shall be responsible for ensuring that the exterior walls and roof, the lighting system (excluding such additions as may be required for Tenant's business operation) and the exterior grounds are in good repair on the date of commencement of the Lease term. County represents and warrants to Tenant that it holds unencumbered fee title to the Lease Premises. The County shall not be responsible for any latent defect or change of condition in such building, improvements, and personalty, and the rent hereunder shall in no case be withheld or diminished because any defect in such property, any change in the condition thereof, any damage occurring thereto or the existence with respect thereof of any violations of the laws or regulations of any governmental authority, except as hereinafter provided. In addition, Tenant acknowledges that the Lease Premises is a smoke free building and grounds and tobacco use inside of the building or on the grounds is prohibited. Tenant hereby acknowledges that the County may engage in construction activities at or near the leased site. The tenant agrees that it shall not be entitled to any damages as a result of the same, or any diminished use of the property as a result of such activities. 3. Term and Rental. (a) This Lease shall commence on November 1, 2021, and shall continue for a term of thirty-six (36) months, ending on October 31, 2024, both dates inclusive, unless sooner terminated as herein provided. Upon mutual written agreement, this Lease may be renewed for up to one thirty-six (36) month term. Any renewal may be for the entire Leased Premises. Any such renewal shall be subject to a mutually agreed upon increase in rent. (b) Tenant shall deliver to County a deposit in the amount of Two Hundred Fifty Dollars ($250.00. Deposit shall be held as a security deposit against claims for damages. This money may be deposited for the exclusive use of Orange County and will be returned to Tenant at the end of the Lease within 30 days provided there has been no damage to the Leased Premises.