Orange County NC Website
Browse       Search
r <br /> STATE OF NORTH CAROLINA <br /> COUNTY OF ORANGE LEASE AMENDMENT <br /> THIS LEASE AMENDMENT,made and entered into this, the 18th day of April, 1995,between <br /> CARRBORO BELMAN S.C. LIMITED PARTNERSHIP,by Property Resources (LANDLORD) <br /> and the County of Orange (COUNTY); <br /> WHEREAS, a lease agreement was made and entered into as of the 6th day of February, 1995 <br /> between the COUNTY and the LANDLORD; <br /> WHEREAS,the County and the Landlord desire to amend the lease agreement; <br /> NOW THEREFORE,the County and the Landlord mutually agree to the following. <br /> Section 3 "Guaranteed Minimum Rental"shall be modified to read: <br /> 3. GUARANTEED MDMKUM RENTAL. Effective May 1, 1995,the COUNTY agrees to pay to the <br /> LANDLORD at the office of the LANDLORD or at such other place designated by the LANDLORD, the <br /> guaranteed rental of $821 per month payable on or before the 1 st day of each calendar month Effective on the <br /> first day of each Lease Year after the first Lease Year("Adjustment Date"),the Guaranteed Minimum Rental <br /> shall be increased by the amount determined by multiplying the Initial Rental Rate by that percentage which <br /> represents any cost of living increase between the Commencement Date and the Adjustment Date. Such <br /> parentase shall be deter mined by utilizing the applicable indices determined by the United State Bureau of labor <br /> Statistics(or its sued )through its Consumer Price Index entitled"United States City Average, <br /> All two-All Urban Cons ers Index". Such adjustment shall be made effective as of the Adjustment Date,as <br /> soon as possible after the index for the applicable month a published,with any deficiency due and payable with <br /> the nod monthly installment of rental Anything contained herein to the contrary notwithstanding,in the event <br /> that the adjustment would reduce the monthly rental from the monthly rental in effect for the preceding Lease <br /> Year,no such adjustment shall be made and the rental then in effect shall continue through the next Adjustment <br /> Date. Any other sums of money or charges to be paid by the COUNTY pursuant to the provisions of any other <br /> section of this Lease other than the Guaranteed Minimum Rental shall be designated as"Additional Charges". <br /> All other terms and conditions shall remain the same. <br /> The parties hereto have ewcuted this LEASE AMENDMENT as of the date and year fast written <br /> above. <br />