9-19-16 Reg. Meeting - Laserfiche WebLink

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BK:00028 PG -0442 STATE OF NORTH CAROLINA COUNTY OF LEE ) LEASEHOLD AGREEMENT THIS LEASEHOLD AGREEMENT, made and entered into this day of 2016, by and between the Lee County Arts and Community Center, Inc. (hereinaftereferred to as "Lessor"), a non-profit corporation chartered under the laws of the State of North Carolina, and the County of Lee (hereinafter referred to as "Lessee"), one of the counties of the State of North Carolina and a body both politic and corporate. WHEREAS the parties hereto have mutually agreed to the terms of this lease agreement as hereinafter set out. NOW, THEREFORE, for and in consideration of the mutual promises contained herein with mutual benefits to result therefrom, Lessor and Lessee agree to the following terms and conditions of the lease: OR: In consideration of the purposes to be effectuated as hereinbefore set forth and in further consideration of the sum of One Dollar ($1.00), the receipt of which is hereby acknowledged, Lessor does hereby demise and lease unto the Lessee the certain parcel of land which is a basketball court located on the property owned by the Lee County Arts and Community Center, INc. TO HAVE AND TO HOLD said land and premises, together with all privileges and appurtenances thereunto belonging, to Lessee and its successors and assigns for the term and upon the conditions hereinafter set forth and subject to the reservation of rights as to the basketball court as hereinafter set forth: 1. Premises: Lessor does hereby let and lease unto Lessee and Lessee hereby takes and leases from Lessor property of a basketball court which is owned by the Lee County Arts and Community Center. 2. Term: This Lease shall begin on day of , 2016, and unless sooner terminated as herein provided, shall exist and continue until June 30, 2051. 3. Insurance: Lessee shall maintain liability insurance covering the premises.