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BK - 00025 PG.0205 <br />Community College may utilize, free of charge, for its Small Business Incubator Program, or <br />other community college purposes, any available and suitable space within the Steele Street <br />Property for said uses. The Community College may also repair and rehabilitate this property <br />with prior approval of the plans by Lee County. It is expected that the Community College will <br />seek other partners and grant programs in their efforts to create an economic hub in the <br />building. <br />7. During this period of County ownership of the Steele Street Property, any <br />revenues received by the Community College from any participants in the Small Business <br />Incubator Program shall be budgeted for use by the Community College for the maintenance <br />and /or continued refurbishment of the Steele Street Property. <br />8. Title to the Steele Street Property will be held by Lee County until all purchase <br />money loan obligations on the Summit Drive Property are paid and /or satisfied in full. At that <br />point in time, upon written request by the Community College, Lee County will convey the <br />Steele Street Property to the Community College Board of Trustees, to hold for its benefit, free <br />and clear of all liens and encumbrances, except possible rights -of -way, easements of record <br />and existing private party leases. <br />9. Both parties agree to cooperate in good faith in the implementation of this <br />Agreement and to sign any further documents reasonably necessary to implement the same. <br />LEE COUNTY <br />ATTEST: <br />i l <br />By: <br />r <br />y II M. Lee, Cler to he Board ti, da A. Shook, Chairman <br />G AL County Board of Commissioners <br />ATTEST: <br />Secretary <br />CENTRAL CAROLINA COMMUNITY COLLEGE <br />By: ( J <br />Tk <br />ese nt Th <br />o e Zoo- C- <br />� Y m a.r�. <br />