2001 - 09-04-01 Regular Meeting - Laserfiche WebLink

Home Browse Search

Gig NORTH CAROLINA 6WA M P„CE 565 LEE COUNTY LEASE AGREEMENT THIS LEASE AGREEMENT, made and entered into this 17`h day of July, 2001 by and between LEE COUNTY, hereinafter referred to as "Lessor"; and STATE EMPLOYEES' CREDIT UNION, a North Carolina corporation, hereinafter referred to as "Lessee"; WITNESSETH: That subject to the terms and conditions hereinafter set out, said Lessor does hereby let and lease unto said Lessee, and said Lessee does hereby accept as tenant of Lessor that certain tract or parcel of land located 1408 S. Homer Blvd., Sanford, County of Lee, State of North Carolina, as more particularly described in Exhibit "A" attached hereto and by this reference made a part hereof." The terms and conditions of this Lease are as follows: 1. The term of this Lease shall be for a period of three (3) years beginning on the I't day of September, 2001, and ending on the 3151 day of August, 2004, unless extended or terminated under the other provisions of this Lease. 2. Premises will be provided to Lessee rent-free. 3. Lessee shall use and occupy the premises for the purpose of constructing a kiosk ATM, and in connection thereto, shall comply with all laws, ordinances, orders, or regulations of any lawful authority having jurisdiction over the premises and the use thereof. 4. It is understood and agreed that Lessee shall be responsible for construction of the ATM and for the upkeep, repair, and maintenance of said structure during the term of this Lease or any extension hereof. At the expiration of the term of this Lease, or the prior termination of said Lease as herein provided, Lessee shall be responsible for removing said ATM from the premises and restoring the premises to their present condition. 5. During the term of this Lease, Lessee shall maintain comprehensive general liability insurance on an occurrence basis with maximum limits of liability in the amount of Three Hundred Thousand Dollars ($300,000.00) for property damage, bodily injury, personal injury or death to any one person; Lessee shall also maintain excess liability coverage with a per occurrence limit of One Million Dollars ($1,000,00.00); and Lessee shall keep the kiosk structure on the demised premises together with the equipment in said building insured against loss or damage by fire or other casualties.