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kI b <br />12. Holding Over <br />If Tenant does not vacate the premises upon the expiration or earlier termination of <br />this lease, Tenant shall be a tenant at sufferance on a month-to-month basis and all <br />of the terms and provisions of this lease shall be applicable during that period, <br />except than Tenant shall pay Landlord monthly rent for the period of such holdover <br />in an amount equal to one hundred twenty-five (125%) of the base rent which <br />would have been payable by Tenant had the holdover period been a part of the <br />original term of this lease. <br />13. Termination <br />This contract may be terminated by mutual consent of both parties in writing and <br />with 90 days' notice to the other. <br />14. Insurance <br />Tenant shall maintain liability insurance at not less than $1,000,000 limit on the <br />premises. <br />15. Assignments <br />Landlord has the right to assign said Lease in the event building is sold. Tenant may <br />assign his rights in the Lease with the written approval of the Landlord. <br />16. Time is of the Essence <br />The time of the performance of all of the covenants, conditions and agreements of <br />this Lease is of the essence. <br />17. Availability of Funds <br />The parties to this Lease agree and understand that the payment of the sums <br />specified in the Lease is dependent and contingent upon and subject to the <br />appropriation, allocation, and availability of funds for this purpose to the Lee County <br />Department of Parks and Recreation. <br />18. Notices <br />All notices required in this agreement shall be mailed to the following addresses: <br />Landlord: Dean Real Estate, Inc. <br />533 S. Bickett Blvd. <br />Louisburg, North Carolina 27549 <br />Tenant: Lee County Manager <br />PO Box 1968 <br />Sanford, North Carolina 27331-1968 <br />