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OTHER-2022-055-Lease agreement amendment letter-Well DOT
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OTHER-2022-055-Lease agreement amendment letter-Well DOT
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Last modified
12/6/2022 3:08:24 PM
Creation date
10/19/2022 2:46:45 PM
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BOCC
Date
10/18/2022
Meeting Type
Business
Document Type
Others
Agenda Item
8-h
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Agenda - 10-18-2022 Business Meeting
(Attachment)
Path:
\Board of County Commissioners\BOCC Agendas\2020's\2022
Agenda for October 18, 2022 BOCC Meeting
(Attachment)
Path:
\Board of County Commissioners\BOCC Agendas\2020's\2022\Agenda - 10-18-2022 Business Meeting
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Attachment 3 <br /> WELL DOT, INC . <br /> 419 W . Franklin Street <br /> Chapel Hill, NC 27516 <br /> October 5 , 2022 <br /> VIA EMAIL AND HAND DELIVERY <br /> Orange County <br /> Director, Asset Management Services <br /> Margaret Lane <br /> Hillsborough, NC 27278 <br /> Email : ALL AMS NIANAGEVIENToran ecountync . gov <br /> Re : Lease dated June 8 , 2022 (as amended , the "Lease ") by and between Orange County, a political <br /> subdivision of the State of North Carolina ("Landlord ") and Well Dot, Inc. ("Tenant") <br /> Dear Sir or Madam : <br /> By this letter agreement ("Letter Agreement"), we desire to amend Section 23 of the Lease for the purpose <br /> of extending the Inspection Period so that it shall now expire on Monday, November 21 , 2022 . As <br /> communicated to Landlord , Tenant has encountered issues with the groundwater at the premises under the <br /> Lease in its environmental due diligence, and requires the additional Inspection Period time for purposes of <br /> conducting further testing thereon to determine the suitability of the premises for Tenant ' s use . During such <br /> extended Inspection Period, Tenant reserves the right to terminate the Lease by providing written notice to <br /> Landlord of such termination prior to the expiration of such extended Inspection Period . <br /> As, without the foregoing amendment, the Inspection Period expires tomorrow, on October 6 , 2022 , in the <br /> event that Landlord has not countersigned and acknowledged this Letter Agreement where indicated below, <br /> this Letter Agreement shall also serve as Tenant ' s official written notice terminating the Lease pursuant to <br /> Section 23 of the Lease . Notwithstanding the foregoing, in the event that Landlord countersigns and <br /> acknowledges this Letter Agreement where indicated below after October 6 , 2022 , but prior to October 31 , <br /> 2022 (the " Outside Effectiveness Date") , then the Lease shall automatically be reinstated and shall be <br /> deemed in full force and effect in all respects, including the amendment to Section 23 set forth in this Letter <br /> Agreement . Following the Outside Effectiveness Date , the reinstatement of the Lease pursuant to this Letter <br /> Agreement shall be nullified regardless of any subsequent execution by Landlord, and the Lease shall be <br /> deemed terminated and of no further force or effect . <br /> Very truly yours, <br /> WELL DOT, INC . <br /> Fr <br /> By : <br /> Name : 'ate <br /> Its : C�ktt �ttJAi\sCtAL oftc i � rL <br /> [LANDLORD SIGNATURE ON FOLLOWING PAGE] <br /> CHAR211958522vl <br />
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