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C] B0)0n 19 FACE 265 A STATE OF NORTH CAROLINA ) LEASE AGREEMENT COUNTY OF LEE ) THIS LEASE AGREEMENT, made and entered into this day of 2003, by and between the COUNTY OF LEE, hereinafter designated as "Lessor", and the CITY OF SANFORD, hereinafter designated as "Lessee"; WITNESSETH: THAT WHEREAS, the parties hereto have mutually agreed to the terms of this Lease Agreement as hereinafter set out, NOW THEREFORE, in consideration of the rental hereinafter agreed to be paid and the terms and conditions hereinafter set forth, Lessor does hereby let and lease unto Lessee and Lessee hereby takes and leases from Lessor for and during the period of time and subject to the terms and conditions hereinafter set out certain space in the City of Sanford, County of Lee, more particularly described as follows: Being 1,905 t square feet of office space located in the old Lee County Health Department building located at 402 West Makepeace Street, Sanford, North Carolina, and being designated on Exhibit A attached hereto with the rooms high-lighted in yellow at full square footage and those rooms high-lighted in pink at one-half of the square footage and to which Exhibit references hereby made for a more perfect description. THE TERMS AND CONDITIONS OF THIS LEASE AGREEMENT ARE AS FOLLOWS: (1) The term of this Lease shall be for a- period of 15 months commencing on the 1st day of April 2003, or as soon thereafter as the lease premises are ceded to the Lessee and terminating on the 30th day of June 2004. (2) The Lessee shall pay to the Lessor as rental for said premises the sum of 515,240.00 per year which sum shall be paid in equal monthly installments of 51,270.20. Said rental to be payable on the 1 s` day of each calendar month. The Lessee agrees to pay the aforesaid rental to Lessor at the address specified, or, to such other address as the Lessor may