Agenda Package - 02-04-08 - Laserfiche WebLink

Home Browse Search

021 STATE OF NORTH CAROLINA. ) • MODIFICATION OF LEASE COUNTY OF LEE ) This Modification Agreement by and between Moore Business Park, LLC (Landlord) and Lee County one of the counties of the State of North Carolina (Tenant). WHEREAS, the parties hereto entered into a lease on November 5, 2007, for Suites 2, 3, and 4 in Building 1, 101 Commercial Court, Sanford, North Carolina, and WHEREAS, the necessity for providing a sprinkler system has arisen, a condition not in contemplation of either of the parties when the original lease was negotiated and executed: and WHEREAS, the Landlord has agreed to make the investment to acquire and install a sprinkler system conforming with the requirements of the governmental units having jurisdiction over such work, and WHEREAS, the parties have mutually agreed to a modification of the term and rental as set out in the original Lease in consideration of the additional expense and the added safety provided for occupants. NOW, THEREFORE, it is mutually agreed that said original Lease be modified as 0 follows: A_ Paragraph 2 of the original Lease, entitled "Lease Term" is revoked and deleted and in lieu and substitution thereof a new Paragraph 2 entitled 'Lease Term" is inserted in said Lease which reads as follows: 2. Lease Term - Five (5) years, beginning April 1, 2008, and ending March 31, 2013- Work is to be completed by Landlord prior to commencement date. Tenant has permission to move into premises upon the completion of work free of rent charge until April 1, 2008. B Paragraph 3 of the original Lease, entitled "Rent" is revoked and deleted and in lieu and substitution thereof a new Paragraph 3 entitled "Rent" is inserted in said Lease which reads as follows: 3. Rent - The Tenant shall pay to the Landlord rent according to the following schedule: 40