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12. Holding Over <br /> If Tenant does not vacate the premises upon the expiration or earlier termination of <br /> this lease, Tenant shall be a tenant at sufferance for the holdover period and all of <br /> the terms and provisions of this lease shall be applicable during that period, except <br /> that Tenant shall pay Landlord as rent for the period of such holdover an amount <br /> equal to one hundred twenty-five percent(125%)of the base rent which would have <br /> been payable by Tenant had the holdover period been a part of the original term of <br /> this lease (without waiver of Landlord's right to recover damages as permitted by <br /> law). <br /> 13. Termination <br /> This contract may be terminated by mutual consent of both parties in writing and <br /> with 90 days' notice to the other. <br /> 14. Insurance <br /> Tenant shall maintain liability insurance at not less than $1,000,000 limit on the <br /> premises. <br /> 15. Assignments <br /> Landlord has the right to assign said Lease in the event building is sold. Tenant may <br /> assign his rights in the Lease with the written approval of the Landlord. <br /> 16. Time is of the Essence <br /> The time of the performance of all of the covenants, conditions and agreements of <br /> this Lease is of the essence. <br /> 17. Availability of Funds <br /> The parties to this Lease agree and understand that the payment of the sums <br /> specified in the Lease is dependent and contingent upon and subject to the <br /> appropriation,allocation,and availability of funds for this purpose to the Lee County <br /> Department of Parks and Recreation. <br /> 18. Notices <br /> All notices required in this agreement shall be mailed to the following addresses: <br /> Landlord: Dean Real Estate, Inc. <br /> 107 Berkshire Road <br /> Raleigh, North Carolina 27608 <br /> Tenant: <br /> Lee County Manager <br /> PO Box 1968 <br /> Sanford, North Carolina 27331-1968 <br />