Laserfiche WebLink
KKK _19 PIGF 554 <br />SUBLEASE <br />NORTH CAROLINA <br />LEE COUNTY <br />THIS AGREEMENT, made this _ day of 2003, between the <br />City of Sanford, a North Carolina Municipal Corporation, located in Lee County, North <br />Carolina, herein referred to as the City, and Downtown Sanford, Inc., a non-profit <br />corporation organized and existing under the laws of the State of North Carolina, herein <br />referred to as DSI. <br />In consideration of the mutual covenants herein set out, the parties agree as <br />follows: <br />Pursuant to the authority contained in G.S. 160A-272 and in consideration of the <br />mutual covenants herein set out, the parties agree as follows: <br />1. The City hereby sub-leases to DSI the County owned parking lot located on the <br />northwest comer of Steele Street and Cole Street. <br />2. The term of the sub-lease shall extend for a period of nine years beginning <br />2003 and ending 2012. <br />3. DSI shall pay the City for the use of the sub-leased parking lot the amount of nine <br />dollars (51.00 per year), payable on or before 12003. <br />4. DSI shall be responsible for all the maintenance and upkeep on said premises and <br />may make such improvements thereon so as to maximize parking efficiency. <br />5. DSI must retain thirty six (36) individual parking spaces at no cost, specifically <br />fourteen (14) spaces for employees of the Lee County Parks and Recreation <br />Department, from 8:00 a.m. and 5:00 p.m., Monday through Friday, and twenty two <br />(22) spaces for residents of the Wilrik Apartments, 24 hours 7 days a week. <br />6. DSI covenants at all times to indemnify and save the City harmless from all loss, <br />liability, cost, or damages that may occur or be claimed with respect to any person or <br />property on, in or about the leased premises or to the leased premises themselves <br />resulting from any act done or omission by or through DSI, its agents, employees, <br />invitees, or any person on the premises by reason of DSI's use or occupancy or <br />resulting from DSI's non-use, or possession of such property and any and all loss, <br />cost, liability, or expense resulting therefrom; and further covenants at all times to <br />maintain such premises in a safe and careful manner. <br />7. This sublease may be assigned or subleased to the general public at reasonable rates <br />with the prior written consent of the City, which will not be unreasonably withheld. <br />However, all rental proceeds not expended for maintenance and upkeep of the <br />premises shall be used for improvements in the downtown special tax district. <br />