Orange County NC Website
Browse       Search
This 1st Lease Modification Agreement and Exercise of Option made and entered into as of <br /> 202 by and between EUROPA CENTER, LLC , herein represented by its duly authorized <br /> agent, AVI ON YOUNG — NC, LLC , 100 Europa Dr. , Suite 190 , Chapel Hill , NC 27517 , hereinafter, " Landlord" <br /> and ORANGE COUNTY, a NC political subdivision, hereinafter, "Tenant" <br /> Whereas Tenant and Landlord entered into that certain Lease (the "Lease") dated March 1 st, 2020 for Suite 101 in <br /> the Europa Center office building, and <br /> Whereas Tenant wishes to extend its occupancy in the Leased Premises under the terms and conditions as stated in <br /> the Lease, and <br /> Whereas Tenant has provided Landlord with adequate notice in order to exercise its Option to Renew (the <br /> "Option") as provided in Section 3 (b) of the Lease, and <br /> Whereas Tenant acknowledges that the Option provides for the exercise of Two (2) One ( 1 ) year terms and desires <br /> to exercise both One ( 1 ) year terms simultaneously, and <br /> Therefore, the parties hereto do mutually agree and covenant as follows : <br /> 1 . The Tenant hereby exercises its Option for both One ( 1 ) year terms to expire February 28 , 2025 . <br /> 2 . The Base Rent due under the Lease shall be payable as shown in Section 4 (a) of the Lease and repeated as <br /> follows : <br /> Option Term" # of Months Start Date End Date SF PSF Rate $/Month Total $ <br /> 1 12 .00 03/01 /23 02/29/24 10,615 $2295 $20,298 .77 $243 ,585 .24 <br /> 1 12 .00 03/01 /24 02/28/25 10 *615 $23 .64 $201907 .73 $250 ,892 .80 <br /> 3 . All other terms and conditions of said. Lease to the extent not expressly modified hereby shall remain <br /> unchanged and in full force and effect. <br /> IN WITNESS WHEREOF , Landlord and Tenant have duly executed this 1st Lease Modification Agreement and <br /> Exercise of Option as of the day and year first above written . <br /> Landlord : <br /> EUROPA CENTER, LLC herein represented by its duly <br /> authorized agent, AYISON YOUNG — NC , LLC , 100 Europa <br /> Dr. , Suite 190 , Chapel Hill , NC 27517 <br /> Attest: } <br /> t _ <br /> 4 <br /> E y (SEAL) <br /> hn P . Graham Principal <br /> Tenant : <br /> (GRANGE COUNTY, a NC political subdivision <br /> Atte <br /> aj <br /> By (SEAL) <br /> Bonnie B . Hammersley, County M ager <br />