1985 - 01-22-85 Regular Meeting - Laserfiche WebLink

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BooK li ;;!GE NORTH CAROLINA 675 LEE COUNTY L E A S E - THIS CONTRACT made and entered into this 14th day of January, 1985, by and between the TOM OF BROADWAY, a municipal corporation of the state of North Carolina, party of the first part and hereinafter referred to as "Broadway", - - and LEE COUNTY, a political subdivision of the State of North Carolina, party of the second part and hereinafter referred to as "Lee County"; W I T N E S S E T H: WHEREAS, Broadway and Lee County wish to enter into a lease whereby Broadway will lease certain property to Lee County for construction of two tennis courts on said property, and WHEREAS, Broadway and Lee County wish to state their- re spective respon- sibilities in regard to the project of constructing and maintaining the said two - tennis courts, NOW, THEREFORE, subject to the terms and conditions herein set out, Broadway does hereby lease and let unto Lee County and Lee County does hereby accept as tenant of Broadway that certain tract of property more particularly described as follows: SEE EXHIBIT A ATTACHED HERETO AND INCORPORATED HEREIN BY REFERENCE. The terms and conditions of this lease are as follows: 1. Application for Grant. Lee County, through its agency, Lee County Parks and Recreation Department, hereinafter referred to as "Department", will apply and submit and administer all applications, regulations and fees in regard to a grant from Land and Water Conservation Fund m the minimum amount of $15,000.00. If approved, Department shall use said grant funds for the construction and/or maintenance of two tennis courts on the property leased and described in Exhibit A. 2. Term and Rent. Broadway does hereby lease to Lee County the property described on Exhibit A for a period of twenty-five (25) years beginning January 15, 1985, for the rental of One Dollar ($1.00) per year. Said rental is to be paid on or before July 1 of each year. It is expressly understood and agreed that Lee County shall have the option to extend this lease for twenty-five (25) additional years from January 15, 2010, upon the same terms and conditions herein stated, provided Lee County notifies Broadway at least thirty (30) days prior to the expiration of the initial lease term of its intent to extend.