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NORTH CAROLINA <br /> COUNTY OF ORANGE LEASE AGREEMENT RENEWAL <br /> WHEREAS a lease agreement was made and entered into as of the sil day of July, 1987, by <br /> and between the County of Orange, (the County)and Grey Mostly (the Owner)for space to be <br /> used as offices for County and Court functions at 103 Laurel Avenue, Canborc, North Carolina; <br /> WHEREAS, the County and Me Owner mutually agree to the fallowing: <br /> 1. The lease agreement will be continued for a penotl of three yeas commencing on <br /> July 1, 2002 and ending at 12:00 midnight on June 39, 2005 <br /> 2. Section 3 (b), Rent Schedule, shall read as follows: <br /> Rent during the three year renewal shall be payable in monthly installments on the first <br /> day of each month during the term of this lease renewal pursuant to the following schedule: <br /> July 1, 2002 through June 30, 2003: $44,150 ($3,6]9.1] monthly) <br /> July 1, 2003 through June 30,2004: $45,475 ($3,]89.58 monthly) <br /> July 1,2004 through June 30, 2005: 546,839 ($3,903.25 monthly) <br /> 3. The County shall continue to reimburse the Owner for real estate taxes assessed <br /> against the leased premises within 30 days of receipt of invoice from the Owner and proof of <br /> payment by the Owner. <br /> 4. All other terms and conditions shall remain the same. <br /> This agreed to the day of . 2002. <br /> Grey Mostly, Owner <br /> County: <br /> Barry Jacobs, Chair <br /> Orange County Board of Commissioners <br /> ATTEST: <br /> Beverly A. Blythe, Clerk to the Boat <br />