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2 <br />TID5 LEASE DOES NOT BECOME EFFECTIVE i1NTII. EXECUTED <br />SY THE NORTH CAROLINA DEPARTMENT OF ADMIl~1'ISTRATION <br />5TAT13 OF NORTH CAROLINA <br />LEASE AGREF~N'r <br />COUNTY OF ORANGE <br />THIS LEASE AGRP,ffiVffiri'!', made and entered into finis the day of <br />2000, by and between COY OF <br />erem srgn as Lessor, and the STATE OF NORTH <br />CAROLINA, hereinafter designated as Lessee; <br />WITNES5ETH: <br />THAT WHffitSAS, authority to approve and execute this lease agreement was <br />delegated w the Department of Administration by resolution adopted by the (3vvernor <br />and Council of State an the 1st day of September, 1981; and as amended on December <br />7'~, 1999, and <br />WHBREAS, the parties hereto have mutually agreed to the terms of this lease <br />agreement as hereinafter set out, <br />NOW FORS, in consideration of the rental hereinafter agreed to be paid <br />and the terms and conditions hereinafter set forth, Lessor does hereby let and lease unto <br />Lessee and Lessee hereby takes and leases from Lessor for and during the period of <br />time and subject to the terms and conditions hereinafter set out certain space in the City <br />of Carrbora, County of Orange, North Carolina, more particularly described as <br />follows: <br />Being t 1,236 net square feet of office space located at 103 Laurel Avenue, <br />Carrboro, Orange County, North Carolina <br />(DEPARZ'1VIENT OF CORRECTION - Probation/Parale <br />THS TERMS AND CONDITIONS OF THI5 LEASE AGREIIViSi~IT ARl3 AS <br />FOLLOWS: <br />1. The term of this leax shall be far a period of Two (2) Years commencing <br />on the 1st day of July, 2000, or as soon thereafter as the leased premises are ceded to <br />the Lessee and terminating on the 30'~ day of June, 2002. <br />2. The Lessee shall pay w the Lessor as rental for said premises the sum of <br />$18,456.Qa Dollars per annum, which sum shall be laid in equal monthly installments <br />of $1,538.Oa Dollars, said rental to be payable within fifteen (15) days from receipt of <br />invoice in tripli~te. <br />The Lessee agrees to pay the aforesaid rental to Lessor at the address specified, <br />or, to such other address as the Lessor may designate by a notice in writing at least <br />fifteen (15) days prior to the due date. <br />