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6-20-16 Reg. Meeting
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6-20-16 Reg. Meeting
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7/20/2016 3:32:32 PM
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BK -00028 PG -0344 <br />STATE OF NORTH CAROLINA FIRST ADDENDUM TO <br />COMMERCIAL LEASE AGREEMENT <br />COUNTY OF LEE <br />THIS ADDENDUM made and entered into this 7th day of June 2016, by and <br />between Progressive Development Co., LLC, (a North Carolina Limited Liability <br />Company) (hereinafter Landlord"), and County of Lee, (a body corporate and politic and <br />one of the hundred counties of the State of North Carolina), and City of Sanford, (a North <br />Carolina municipal corporation) (hereinafter "Tenants"). <br />WITNESSETH: <br />WHEREAS the parties hereto entered into a Commercial Lease Agreement dated <br />September 10, 2014, whereby the Tenants agreed to pay rent per square foot for the <br />square footage occupied by each of the Tenants; and <br />WHEREAS, additional square footage of 221 square foot has been added to <br />accommodate Environmental Health offices (County), IT closet and Mechanical HVAC <br />Room (City/County shared); and <br />WHEREAS, Tenants have agreed to adjust their rent to pay for the additional <br />square footage used by Tenants. <br />NOW, THEREFORE, for and in consideration of the mutual promises stated <br />herein and such other and further consideration as the parties agreed, the receipt of which <br />is hereby acknowledged, the parties here to agree as follows: <br />105 sq ft — Environmental Health (County) <br />116 sq ft — IT Closet and Mechanical HVAC Room (City/County shared) <br />221 sq ft total <br />105/221 = 47.5% County <br />116/221 = 52.5% City/County shared (26.2 % City and 26.3 % County) <br />47.5% + 26.3% = 73.8% County <br />26.2% City <br />$1878.5 * 73.8% = $1,386.33 County <br />$1878.5 * 26.2% = $492.17 City <br />The City agrees to pay additional rent in the amount of $492.17 and the County <br />agrees to pay additional rent in the amount of $1,386.33. <br />
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