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27 <br /> EXHIBIT C <br /> FORM OF MEMORANDUM OF LEASE <br /> 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 <br /> the notary acknowledgments below (the "Effective Date"), by and between ORANGE COUNTY, a political <br /> subdivision of the State of North Carolina, hereinafter referred to as ("Landlord") and WELL DOT, Inc., <br /> hereinafter referred to as ("Tenant'). Landlord and Tenant may be collectively referred to hereinafter as the <br /> "Parties" or individually as the "Party." <br /> WITNESSETH: <br /> WHEREAS, the Parties executed a Lease Agreement for the Leased Premesis; 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. 501 W. Franklin Street, 503 W. Franklin Street, and 108 S. Roberson Street <br /> Chapel Hill, NC 27517, three parcels situated in Chapel Hill, North Carolina having approximately 21,612 <br /> square feet of office space. <br /> 2. Term. The term of the Lease shall be for a period of 120 months and shall commence on the date of <br /> Substantial Completion, as that term is defined in the Lease Agreement(the"Term"). Upon mutual consent <br /> the Lease may be extended by Tenant for two additional terms of five years each. <br /> 3. Option. During the initial 120 month term, the Tenant may exercise an option to purchase the Leased <br /> Premises. <br /> 4. Incorporation. All of the terms, covenants, and conditions contained in the Lease Agreement are <br /> incorporated herein by reference. Should the terms, covenants, and conditions contained in this <br /> Memorandum conflict with the terms, covenants, and conditions contained the Lease Agreement,the terms, <br /> covenants, and conditions of the Lease Agreement shall control. <br /> [signature on following page] <br /> Landlord Tenant <br /> Initials Initials <br />