Minutes - June 1, 2015 Reg. Meeting

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BK:00027 PG -0447 Master Landlord to the Master Tenant, and modification of the Lease with respect to any renewals of the term of the Lease, and the obligations finther described herein; and NOW THEREFORE, in consideration of the Project, the Lease, and the mutual covenants and agreements set forth herein and for other good and valuable consideration the receipt of which is hereby acknowledged, Assignor, Tenants, Master Landlord and Master Tenant agree as set forth below. AGREEMENT 1. Assignment. The Assignor hereby assigns to the Master Landlord all of its right, title, obligations and interest in and to the Lease. 2. Assam tion. The Master Landlord hereby accepts the foregoing assignment and agrees to assume, the obligations described in the Lease, and Master Tenant hereby accepts the further assignment of the Lease by Master Landlord, and all obligations under the Lease owed to Tenants, and Tenants agree and hereby consent to both such assignments and assumptions, as provided in Section 10 of the Lease. Upon such assignment, Master Tenant shall become the Landlord under the Lease and Tenants shall attom to Master Tenant as Landlord. 3. Assurances Concerning the Recorded Lease. Each party hereby agrees to execute and deliver to the other party, from time to time, such further instruments, acts, deeds, assignments, transfers, conveyances, and assurances as may be required to effect the assignments and assumptions evidenced hereby. Assignor and Tenants agree to cooperate as reasonably requested by Master Landlord and Master Tenant in connection with any consents that may be required in connection with the Project and Project financing, including without limitation this Agreement. 4. Modification of Lease. In Section 1 of the Lease, the second paragraph reference to an anticipated start date of October 1, 2015, is hereby modified to replace "October 1, 2015" with "January 1, 2016." Section 19 of the Lease is deleted and replaced with the following sentence: "Unless terminated sooner as provided herein, or upon written mutual agreement of the parties, the Lease shall terminate at the end of the Term but shall automatically renew on an annual basis pursuant to the same terms and conditions contained herein unless otherwise agreed upon in writing by all parties, for no more than five (5) annual renewal periods." Except as modified herein, the remainder of the Lease shall remain in full force and effect. 5. Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument. 6. Governing Law. The provisions hereof shall be governed by and construed in accordance with the laws of the State of North Carolina without regard to the conflicts of law rules thereof. [signatures follow] 2