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13K *0002-5 Pr:nA,77 <br />and provisions of this lease shall be applicable during that period, except that Tenant shall <br />pay Landlord monthly rent for the period of such holdover in an amount equal to one <br />hundred twenty -five percent (125 %) of the base rent which would have been payable by <br />Tenant had the holdover period been a part of the original term of this lease. <br />13. Termination <br />This contract may be terminated by mutual consent of both parties in writing and with 90 <br />days' notice to the other. <br />14. Insurance <br />Tenant shall maintain liability insurance at not less than $1,000,000 limit on the premises. <br />15. Assianments <br />Landlord has the right to assign said Lease in the event building is sold. Tenant may assign <br />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 this <br />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 specified in <br />the Lease is dependent and contingent upon and subject to the appropriation, allocation, <br />and availability of funds for this purpose to the Lee County Department of Parks and <br />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 />533 S. Bickett Blvd. <br />Louisburg, North Carolina 27549 <br />Tenant: Lee County Manager <br />PO Box 1968 <br />Sanford, North Carolina 27331 -1968 <br />