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Maple View Soccer Field Lease _ <br /> 5 <br /> NORTH CAROLINA <br /> ORANGE COUNTY LEASE AGREEMENT <br /> This lease agreement entered into this 6t' day of March, 2002, by and between the <br /> Nutter Family Limited Partnership III, 3111 Dairy Land Road, Hillsborough, NC, Orange <br /> County, North Carolina, hereinafter referred to as "Owner" and the County of Orange, <br /> North Carolina, Hillsborough, North Carolina, a body politic and corporate pursuant to <br /> North Carolina General Statutes 153A-11, PO Box 8181, Hillsborough, North Carolina, <br /> hereinafter referred to as "County", <br /> WITNESSETH: <br /> The Owner hereby agrees to lease the property described below to the County for the <br /> purpose of developing a soccer field for public play upon the following terms and <br /> conditions: <br /> 1. The Property. The property herein leased is a tract and parcel of land, together <br /> with all improvements located thereon, being all of Parcel B as shown on the plat <br /> entitled "Final Plat Subdivision for Maple View Farm Soccer Field—Orange <br /> County Lease", dated August 7, 2001, last revised November 9, 2001, as drawn <br /> by James H. Holland, Jr., P.L.S. of Holland Land Surveying, and recorded in Plat <br /> Book 89, Page 59, Orange County Registry, attached as Exhibit A, hereinafter <br /> referred to as "Premises". <br /> 2. Term. <br /> a. This Lease shall commence on the 6t' day of March 2002 and unless <br /> sooner terminated as herein provided shall exist and continue for a term of <br /> ten (10) years. <br /> b. County shall have the option to renew this lease for two (2) additional <br /> terms of five (5) years each. The terms and conditions herein set forth <br /> shall apply during each renewal term, except as otherwise provided in this <br /> lease. County shall exercise its right of renewal with respect to a renewal <br /> term by giving Owner written notice thereof not later than six (6) months <br /> prior to the expiration of the then-current term. If any renewal notice is not <br /> given timely, then, at Owner's election, County right of renewal shall lapse <br />