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Attachment 1 2
<br /> LEASE MODIFICATION
<br /> THIS MODIFICATION OF LEASE (this "Amendment") is entered into as of the _ day
<br /> of _, 202_ (the "Effective Date") by and between HILLSBOROUGH NC I SGF, LLC, a
<br /> Delaware limited liability company ("Landlord"), and ORANGE COUNTY, NORTH
<br /> CAROLINA ("Tenant").
<br /> WITNESSETH:
<br /> WHEREAS, Landlord, as successor in interest to Hillsborough Commons, LLLP, and
<br /> Tenant entered into that certain Lease Agreement dated July 25, 2008, as amended by that certain
<br /> Lease Modification dated January 12, 2015, and that certain Lease Modification dated November
<br /> 12, 2015, and that certain Lease Modification dated September 20, 2018 (collectively, the
<br /> "Lease"), pursuant to which Landlord leases to Tenant certain premises consisting of 66,444
<br /> rentable square feet, identified as Unit Nos. 01 and 03 (the"Premises"), in the shopping center(the
<br /> "Shopping Center") known as Hillsborough Commons, situated in Hillsborough,North Carolina,
<br /> City of Richmond, Virginia(the "Property"), as more fully described and depicted in the Lease.
<br /> WHEREAS,Tenant has exercised its first option to extend the Lease Term for the renewal
<br /> period commencing on January 22, 2019 and expiring on January 21, 2024.
<br /> WHEREAS, Landlord and Tenant desire to memorialize Tenant's exercise of Tenant's
<br /> second option to extend the Lease Term for the renewal period commencing on January 22, 2024
<br /> and expiring on January 21, 2029, subject to the terms and conditions set forth herein.
<br /> NOW, THEREFORE, in consideration of the aforesaid premises and the other
<br /> agreements and covenants hereafter set forth and for other good and valuable consideration, the
<br /> receipt of which is hereby acknowledged, the parties do hereby agree as follows:
<br /> 1. Incorporation of Recitals. The above recitals are hereby incorporated into this
<br /> Amendment as if fully set forth herein. As used herein the term "Lease" shall mean the Lease as
<br /> amended by this Amendment.
<br /> 2. Definitions.All capitalized terms used in this Amendment shall have the meanings
<br /> assigned to them in the Lease unless otherwise specified herein.
<br /> 3. Exercise of Renewal Option. This Amendment shall serve as Tenant's exercise of
<br /> its second option to extend the Lease Term for the renewal period commencing on January 22,
<br /> 2024 and expiring on January 21, 2029. Base Rent for the Premises during such period shall be
<br /> $932,880.00 per year($77,740.00 per month). Landlord and Tenant acknowledge that Tenant has
<br /> two (2) additional renewal options of five (5)years each remaining.
<br /> 4. No Default. Each of Landlord and Tenant hereby affirm to each other that to best
<br /> of its knowledge without inquiry as of the Effective Date, no breach, default, event of default, or
<br /> other act, error, or omission which, with the giving of notice or passage of time or both would
<br /> constitute a breach, default, or event of default by such party has occurred and is continuing under
<br /> the Lease beyond any applicable notice or cure period.
<br /> 5996614.1
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