Agenda Package 5-20-13 Reg. Meeting

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I i1 Vi u NORTH CAROLINA: LEE COUNTY: LEASE AGREEMENT THIS LEASE AGREEMENT, made and entered into this 1 ST day of, SEPTEMBER, 2007 by and between, LEE COUNTY, hereinafter referred to as "Lessor "; and STATE EMPLOYEES' CREDIT UNION, a North Carolina corporation, hereinafter referred to as "Lessee "; WITNESSETH That subject to the terms and conditions hereinafter set out, said Lessor does hereby let and lease unto said Lessee, and said Lessee does hereby accept as tenant of Lessor that certain tract or parcel of land located, 1408 S. HORNER BLVD., SANFORD, County of LEE, State of North Carolina. The terms and conditions of this Lease are as follows: 1) The term of this Lease shall be for a period of THREE (3) years beginning on the FIRST day of, SEPTEMBER, 2007, and ending on the LAST day of AUGUST, 2010, unless extended or terminated under the other provisions of this Lease. 2) Lessor shall provide space to the Lessee rent -free for the term of this lease. Provisions for the extension of this Lease are set forth in Item # 12. 3) Lessee shall use and occupy the premises for the purpose of maintaining a kiosk ATM, and in connection thereto, shall comply with all laws, ordinances, orders, or regulations of any lawful authority having jurisdiction over the premises and the use thereof. 4) It is understood and agreed that Lessee shall be responsible for construction of the ATM and for the upkeep, repair, and maintenance of said structure during the term of this Lease or any extension hereof. At the expiration of the term of this Lease, or the prior termination of said Lease as herein provided, Lessee shall be responsible for removing said ATM from the premises and restoring the premises to their present condition. 5) During the term of this Lease, Lessee shall maintain comprehensive general liability insurance on an occurrence basis with maximum limits of liability in the amount of Three Hundred Thousand Dollars ($300,000.00) for property damage, bodily injury, personal injury or death to any one person; Lessee shall also maintain excess liability coverage with a per occurrence limit of One Million Dollars ($1,000,000.00); and Lessee shall keep the kiosk structure on the demised premises together with the equipment in said building insured against loss or damage by fire or other casualties. 6) Lessee shall neither use nor occupy the demised premises or any part thereof for any unlawful or ultrahazardous business purpose nor operate or conduct its business in a manner constituting a nuisance of any kind. 7) Lessee shall pay prior to delinquency all taxes and assessments of every kind and nature which may be imposed or assessed upon or with respect to the structure and equipment placed on the premises by Lessee.