Agenda - 06-29-2000-8e - Laserfiche WebLink

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19. MISCELLANEOUS: Headings of sections are for convenience only and shall not be considered in construing the meaning of the contents of such sections. Each of the Landlord and Tenant respectively represent that each has the lawful authority to enter into this Lease and by signing it in their name as set forth below, to be legally bound in accordance with its terms and conditions. 20. OPTION TO EXTEND: Provided that Tenant has fully complied with all the terms and conditions of this Lease and is not then in default under any term or conditions of this Lease and is not then in default under any term or condition hereof, and provided further that Tenant gives Landlord at least ninety (90) days prior written notice of exercise of this option to extend, Landlord hereby gives to Tenant the right to extend this Lease for a term of six (6) months. This extended term to expire (unless sooner terminated as in this Lease provided by reason of default on the part of Tenant) on June 30, 2001. All the terms and conditions of this Lease shall remain and be in effect during the extension, save and except that the rent to be paid by the Tenant during such extended term shall be an amount equal to the then market rate for comparable space in Carrboro, North Carolina or such other rate as may be agreed upon by Landlord and Tenant. Landlord and Tenant agree to establish the rent due for the extended term within thirty (30) days of Tenant's exercise of the option herein granted. If the parties are unable to agree as to rent to be paid for the extended term within the aforesaid thirty (30) day period, then this Lease shall expire absolutely as of its original expiration date as if Tenant had not exercised the option herein granted. In no event shall rent due far the extended term be less than the previously existing rate of rent under this Lease. 21. SPECIAL CONDITIONS, EXHIBITS, AND ADDENDA: The following special conditions, if any, shall apply, and where in conflict with earlier provisions in this Lease shall control. If any Lease Exhibits or Addenda are noted below, such exhibits and addenda are incorporated herein and made a part of this Lease. If there are no special conditions, exhibits, or addenda, the word NONE shall be written in the blank below. Landlord shall repair and keep in good operating condition, the stove and refrigerator In the kitchen area. 22. NOTICE. Except for the provision for cancellation of the lease, any notice, or written communication, related to this Lease shall be deemed effective if mailed fixst class or delivered to: For The ~rtsCenter: Stephen R. Carter, Interim Executive Director, The ArtsCenter, 300-G East Main Street, Carrboro, North Carolina 27510. For Or~p_ge County Department„~~ ing: P.O. Box 8181, Hillsborough, North Carolina 27278.