2001 - 05-21-01 Regular Meeting - Laserfiche WebLink

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Olt GGCn STATE OF NORTH CAROLINA ) COUNTY OF LEE ) IS PACE 413.7 LEASEHOLD AGREEMENT THIS LEASEHOLD AGREEMENT, made and entered into this the I" day of July,_2001, by and between the COUNTY OF LEE, one of the counties of the State of North Carolina and a body both politic and corporate, hereinafter referred to as "Lessor" and THE LEE COUNTY ARTS AND COMMUNITY CENTER, INC., a non-profit corporation chartered under the laws of the State of North Carolina with its registered office located at 502 North Steele Street, Sanford, Lee County, North Carolina, 27330, hereinafter referred to as "Lessee;" WITNESSETH: WHEREAS, the Lessor acquired the property hereinafter described by conveyance from the Lee County Board of Education by deed dated May 31, 1984, which is recorded in Book 356, Page 509, Lee County Registry; and WHEREAS, Lessor conveyed to Lessee a fee simple determinable estate in and to the eastern half of Block 15 of Rosemont Subdivision, Sanford, North Carolina, by deed recorded in Book , Page in the Lee County Registry which conveyance included a preservation agreement as to the use of said property; and WHEREAS, Lessee requested use of the premises herein described and Lessor, after a public hearing, agreed to lease said property for use in conjunction with the property heretofore conveyed to Lessee and subject to the same preservation agreement; and WHEREAS, the Lee County Arts and Community Center, Inc., is a non-profit corporation chartered by the State of North Carolina under the provisions of Chapter 55A, North Carolina General Statutes, and one of the specific purposes for which said corporation was formed was to preserve the Sanford High School property of which these premises are a part; and WHEREAS, one of the considerations for this conveyance is the agreement to preserve this property and use it for programs which are accessible to the public in keeping with the terms of the preservation agreement set out in the deed of conveyance heretofore referred to; and WHEREAS, the Lee County Arts and Community Center, Inc., is agreeable to the inclusion of a preservation agreement in this lease and by the acceptance and delivery of this lease and the recordation of same or a memorandum of it, consents to the terms of such agreement as are set forth in this lease and in the deed of conveyance heretofore made to it; and