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HomeMy WebLinkAbout2009-007 Purchasing - Telesis Construction Management, LLC - Parking Deck Lease and Right of First Offer and Right of First Refusal PARKING DECK LEASE AND RIGHT OF FIRST OFFER AND RIGHT OF FIRST REFUSAL G ~b THIS PARKING DECK LEASE AND RIGHT OF FIRST OFFER AND RIGHT OF FIRST REFUSAL ("Lease") is made and entered- into effective as of February 25, 2009 by and between ENO RIVER PARKING DECK, LLC, a North Carolina limited liability company, 1000 Corporate Drive, Suite 109, Hillsborough, NC 27278 ("Lessor"), and ORANGE COUNTY, NORTH CAROLINA, a body politic and corporate and a political subdivision of the State of North Carolina, P.O. Box 8181, Hillsborough, NC 27278 ("Lessee"). WITNESSETH: WHEREAS, Lessor owns and operates a private parking deck located on the north side of N&K Street and west of South Churton Street in Hillsborough, Orange County, North Carolina, containing four hundred nine (409) parking spaces (the "Parking Deck"); and WHEREAS, Lessee leases, owns and/or has contracted to purchase certain public use facilities adjoining or in close proximity to the Parking Deck, each of which requires parking for Lessee's employees, customers, guests and invitees; and WHEREAS, Lessor has agreed to lease to Lessee, and Lessee has agreed to lease from Lessor, certain parking spaces in the Parking Deck subject to and in accordance with the terms, covenants and conditions set forth in this Lease; and WHEREAS, Lessor has agreed to convey to Lessee, and Lessee has agreed to accept from Lessor, a right of first offer and right of first refusal to purchase the Parking Deck and the Property on which the Parking Deck is located, which Property is described particularly on the attached EXHIBIT A which is incorporated herein by this reference. NOW, THEREFORE, for and in consideration of the premises, the mutual covenants set forth below and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto covenant and agree as follows: Section 1 Lease. Subject to the terms, covenants and conditions set forth in this Lease, Lessor hereby leases unto Lessee for the benefit of Lessee and Lessee's employees, customer, guests and invitees, and Lessee hereby leases from Lessor, two hundred (200) designated parking spaces in the Parking Deck as identified on the attached EXHIBIT B which is incorporated herein by this reference (the "Parking Spaces"); provided, however, that the number of Parking Spaces may be increased or decreased from time to time during the Term as provided in this Lease.. Notwithstanding the foregoing, (a) Lessor reserves the right, with the prior written consent of Lessee, to relocate some or all of the Parking Spaces to other locations in the Parking Deck from time to time during the Term; and (b) Lessee and Lessor-agree to cooperate in a reasonable manner to effect the temporary release of some or all of the Parking Spaces to Lessor from time to time, at a cost to Lessor or a reduction in Annual Rent and Shared Operating-Costs as agreed by Lessee and Lessor in writing and in advance, when the use of such Parking Spaces is not required by Lessee. Section 2 Term. The initial term of this Lease shall commence (a) on February 25, 2009 with respect to one hundred twenty (120) Parking Spaces located on the third and fourth levels of the Parking Deck as identified on the attached EXHIBIT B, and (b) on the date of the closing ("Closing") of the sale by Telesis Construction Management, LLC to Lessee, and the purchase by Lessee from Telesis Construction Management, LLC, of the Public Library and Office Building presently under construction north of-the Parking Deck with respect to eighty (80) Parking Spaces located on the ground level of the Parking Deck as identified on the attached EXHIBIT B. The initial term of this Lease shall expire with respect to all Parking Spaces, if not sooner terminated as provided herein, at 11:59:59 p.m. (local time) on December 31, 2049. Commencing on January 1, 2050, the initial term of this Lease shall automatically renew for successive periods of one (1) calendar each (commencing on January 1 of each calendar year and ending on December 31 of the same calendar year at 11:59:59 p.m. (local time)), unless and .until sooner terminated by either party as provided below. When and as used in this Lease, "Term" shall mean the initial term of this Lease and each renewal term. At any time subsequent to the expiration of the initial term of this Lease, either party may terminate this Lease with respect to any or all of the Parking Spaces, in its sole discretion, upon delivering written notice of termination to the other party not less than one hundred eighty (180) days prior to the date of termination. Lessor may at any time terminate this Lease with respect to any or all of the Parking Spaces, for cause, in the event Lessee shall (a) default in the performance of any of its obligations pursuant to this Lease and (b) fail to cure such default within thirty (30) days after Lessor shall have delivered to Lessee written notice of default and demand for cure. Lessee may at any time terminate this Lease with respect to any or all of the Parking Spaces, for cause, in the event Lessor shall (a) default in the performance of any of its obligations pursuant to this Lease and (b) fail to cure such default within thirty (30) days after Lessee shall have delivered to Lessor written notice of default and demand for cure. Section 3 Annual Rent, Maintenance Costs and Operating Costs. (a) Annual Rent. Lessee shall pay to Lessor each calendar year during the Term, in advance, Annual Rent for Lessee's lease of the Parking Spaces in the amount of One Dollar ($1.00) multiplied by the number of Parking Spaces then leased to Lessee pursuant to the terms of this Lease. Annual Rent in the amount of One Hundred Twenty and No1100 Dollars ($120.00) for one hundred twenty (120) parking spaces for calendar year 2009, pro-rated as of February 25, 2009 ($101.92), shall be due and payable, in full, on February 25, 2009. Annual Rent in the amount of Eighty and No/100 Dollars ($80.00) for eighty (80) parking spaces for calendar year 2009, pro-rated as of the date of Closing, shall be due and payable, in full, on the date of Closing. Annual Rent for two hundred (200) Parking Spaces for calendar year 2010 in the amount of Two Hundred and No/100 Dollars ($200.00) shall be due and payable, in full, on January 10, 2010. Annual Rent for each subsequent calendar year during the Term shall be due and payable, in full, on the tenth (10`h) day of January of each such calendar year. Lessee's failure to pay any Annual Rent by the twentieth (20th') day of the month when due shall constitute a default under this Lease. In the event the termination date of this Lease with respect to any or all of the Parking Spaces shall not be December 31 of any calendar year, the Annual Rent for the calendar year in which this Lease terminates with respect to such Parking Spaces shall be pro-rated as of the date of such termination. (b) Shared Operating Costs -Calendar Year 2009. In addition to Annual Rent pursuant to paragraph 3(a) above, Lessee shall pay to Lessor for the 2009 calendar year the sum of Fourteen Thousand Five Hundred Ninety and 55/1.00 Dollars ($14,590.55) for one hundred twenty (120) parking spaces for the period commencing on February 25, 2009 and ending on December 31, 2009. Such sum shall be paid in full by Lessee not later than April 10, 2009. In addition to Annual Rent pursuant to paragraph 3(a) above, Lessee shall also pay to Lessor for the 2009 calendar year the sum of Eleven Thousand Four Hundred Fifty-Two and 80/100 Dollars ($11,452.80), pro-rated as of the date of Closing, for the remaining eighty (80) parking spaces for the period commencing on the date of Closing and ending on December 31, 2009. Such sum shall be paid by Lessee on the date of Closing. The parties acknowledge and agree that the above-stated sums represent the estimate of Lessee's pro-rata share of Shared Operating Costs (as hereinafter defined) for the 2009 calendar year. -2- (c) Shared Operating Costs -Remainder of Term. Commencing on January 1, 2010, Lessee shall pay to Lessor each calendar year during the Term, in addition to the Annual Rent required to be paid by Lessee to Lessor pursuant to paragraph 3(a) above, a sum equal to Lessee's pro-rata share of Shared Operating Costs incurred by Lessor during the preceding calendar year multiplied by the number of Parking Spaces leased to Lessee pursuant to this Lease during such preceding calendar year. On or before March 31 of each calendar year during the Term commencing in calendar year 2010, Lessor shall deliver to Lessee a written statement of Lessee's pro-rata share of Shared Operating Costs for the preceding calendar year. Lessee shall pay such pro-rated share of Shared Operating Costs to Lessor on or before July 10 of each calendar year during the Term. Lessee's pro-rata share of Shared Operating Costs for each calendar year during the Term shall be determined by multiplying the Shared Operating Costs for the preceding calendar year by a fraction, the numerator of which shall be the number of Parking Spaces leased to Lessee pursuant to the terms of this .Lease during such preceding calendar year, and the denominator of which shall be four hundred nine (409), the total number of parking spaces in the Parking Deck. When and as used in this Lease, the term "Shared Operating Costs" shall mean the total amount of all "Shared Operating Costs" expense items listed on the. attached EXHIBIT C incurred by Lessor in a particular calendar year; provided, however, that the management fee for calendar years 2009 and 2010 shall not exceed Twelve Thousand and No/100 Dollars ($12,000.00) and the management fee shall not thereafter be increased or decreased by more than one and one half percent (1'/z%) per calendar year unless a different increase or decrease is agreed upon, in writing, by Lessor and Lessee. Section 4 Right of First Offer to Purchase and Right of-First Refusal. Subject to the terms of this Lease, Lessor expressly reserves the right to sell the Property at anytime during the Term, including any extension thereof. However, Lessor covenants that it will not list nor offer the Property for sale without first giving Lessee written notice, in the manner prescribed in paragraph 6(d) of this Lease for Notices, of its desire to sell the Property and having allowed Lessee forty-five days from and after the date of such notice in which to attempt to secure a binding written agreement with Lessor for the purchase of the Property by Lessee. Lessor agrees that any and all offers to purchase submitted by Lessee during said forty-five day period will be held in strictest confidence, will be given every reasonable consideration in good faith, and if unacceptable, will remain confidential and will not be used at any time to enhance its efforts to otherwise market said Property. Lessor further grants to Lessee during the Term, including any extension thereof, the exclusive right at Lessee's option to purchase the Property on the same terms and at the same price as any bona fide offer for the Property received by Lessor that Lessor. desires to accept. Upon receipt of any such bona fide offer, and each time any such bona fide offer is received, Lessor shall immediately notify Lessee, in the manner prescribed in paragraph 6(d) of this Lease for Notices, of the full details of such offer, including a copy of the same (the name and address of the offeror may be omitted if Lessee is unwilling or unable to maintain the name and address of the offeror's confidentiality), whereupon Lessee shall have thirty (30) days after receipt of such notice in which to elect to exercise this right of first refusal. No sale of or transfer of title to the Property shall be binding on Lessee unless and until these requirements are fully complied with. The right of first refusal herein granted shall be continuing and pre-emptive, binding on the Lessor's successors or assigns, and the failure of Lessee to exercise same in any one case shall not affect Lessee's right to exercise such right of first refusal in other cases thereafter arising during the Term or any extension of the Term. Upon Lessor and Lessee reaching a binding written agreement for the purchase and sale of the Property, or upon Lessor's receipt of Lessee's notice of election to exercise any right of first refusal granted herein, Lessee shall have a reasonable time in which to examine title to the Property, but in no event more than thirty (30) days, and, upon completion of such examination, if the title is found to -3- be satisfactory, Lessee shall tender the purchase price to Lessor and Lessor shall thereupon deliver to Lessee a good and sufficient Special Warranty Deed conveying the Property to the Lessee free and clear of all encumbrances. All Annual Rent and Shared Operating Costs shall be pro-rated between grantor (Lessor) and grantee (Lessee) as of the date of the closing of the purchase and sale of the Property. Current year's ad valorem property taxes on the Property shall be paid or prepaid by grantor (Lessor) with grantee's (Lessee's) pro-rated share of those taxes added to the agreed purchase price. Lessee's notice of election to purchase pursuant to the right of first refusal granted herein shall be sufficient if deposited in the United States mail, postage prepaid, addressed to Lessor at Lessor's address contained in paragraph 6(d) of this Lease concerning Notices, at or before midnight of the day on which the right of first refusal expires. Section 5 Representations and Warranties of Lessor. Lessor represents and warrants to Lessee (each of which representations and warranties shall be true as of the date Lessor executes this Lease and as of the commencement of the initial term of this Lease) as follows: 5.01- Lessor is a limited liability company duly organized, validly existing and in good standing in accordance with the laws of the State of North Carolina. Lessor has full right, power and authority to enter into this Lease and to consummate the Lease contemplated herein; all required action necessary to authorize Lessor to enter into this Lease and to consummate the Lease contemplated herein has been taken, and the joinder of no person or entity other than Lessor will be necessary to convey the Property fully and completely to Lessee as provided herein. 5.02 No person has been granted any license, lease or other right relating to the use or possession of any of the Parking Spaces herein leased to Lessee except to the extent otherwise expressly provided in this Lease. No person has been granted an option to purchase, a right of first offer or a right of first refusal as to the Property except Lessee as expressly provided in this Lease. 5.03 To the best of Lessor's knowledge, there is no action, suit or proceeding pending or threatened against or affecting the Property or any part thereof, or relating to or arising out of Lessor's ownership of the Property or any part thereof, or by any federal, state, county or municipal department, commission ,board, bureau or agency or other governmental instrumentality, nor is there any attachment, execution, assignment for the benefit of creditors or voluntary or involuntary proceeding in bankruptcy or under other debtor relief laws contemplated by or pending or threatened against Lessor or the Property. 5.04 There exists no contract, service agreement or obligation affecting the Property which is in addition to or different from those which have been furnished or otherwise disclosed to Lessee. 5.05 Lessor has no knowledge of any release, discharge or storage of any Hazardous Material on or upon the Property or any part thereof in violation of any Environmental Laws. Lessor will not permit, suffer or allow any such Hazardous Material to be released, discharged or stored upon the Property or any part thereof in violation of any Environmental Laws- at any time during the Term or prior to a closing of the purchase and sale of the Property in the event Lessee exercises the right of first offer or right of first refusal provided for herein. For purposes of this Lease, Hazardous Materials means and includes petroleum, petroleum byproducts, (including, but not limited to,) crude oil, diesel oil, fuel oil, gasoline, lubrication oil, oil refuse, oil mixed with other waste, oil sludge, and all other liquid hydrocarbons, regardless of specific gravity, natural or synthetic gas products, asbestos, PCB, and/or any hazardous substance or - 4 - material, waste, pollutant or contaminant, defined as such in (or for the purposes of) any Environmental Laws. For purposes. of this Lease, Environmental Laws means the Comprehensive Environmental Response, Compensation and Liability Act as amended, the Resource Conservation Recovery Act as amended, the Clean. Air Act, the Clean Water Act, any "Superfund" or "Superlien" law, the North Carolina Oil Pollution and Hazardous Substance Control Act of 1976, or any other federal, state or local statute, law, ordinance, code, rule, regulation, order or decree, regulating, relating to or imposing liability or standards of conduct concerning any petroleum, petroleum byproduct (including, but not limited to, crude oil, diesel oil, fuel oil, gasoline, lubrication oil, oil refuse, oil mixed with other waste, oil sludge, and all other liquid hydrocarbons, regardless of specific gravity), natural or synthetic gas, asbestos, PCB, products and/or hazardous substance or material, toxic or dangerous waste, substance or material, pollutant or contaminant, as may now or at any time hereafter be in effect. Section 6 Miscellaneous. (a) Access Control. Lessor reserves the right to install such systems, equipment and apparatus, from time to time, as it may deem reasonably necessary to control and regulate access to the .Parking Deck, including, without limitation, the issuance of electronic access cards or codes and/or identification cards. Lessee acknowledges that it shall be obligated to pay to Lessor the reasonable cost of any such access cards or codes and/or identification cards in addition to the Annual Rent and the pro-rata share of Operating Costs required to be paid by Lessee pursuant to this Lease. (b) Maintenance. At all times during the Term, Lessor shall be responsible for the maintenance, upkeep and repair of the Parking Deck and adjoining grounds. Lessee acknowledges that the temporary unavailability of any Parking Spaces which may at any time exist as a consequence of any necessary maintenance, repair or replacement of the Parking Deck, any means of access to the Parking Deck, or any water, sewer, electric or other public or private utility located in, on, upon or under the Parking Deck, shall not be deemed an unreasonable interference with the Lessee's lease of the Parking .Spaces, nor a default by Lessor under this Lease. In such event, the Annual Rent and the pro-rata share of Operating Costs payable by Lessee with respect to any such unavailable Parking Spaces shall abate during the period of such unavailability unless Lessor is able to provide Lessee with replacement parking spaces in the Parking Deck or in reasonably close proximity thereto. (c) Parking Spaces on N&K Street. Lessor and Lessee acknowledge and agree that the number of Parking Spaces has been determined, in part, on the expectation of both parties that Lessee will have, at all times during the Term, the exclusive use of nineteen (19) parking spaces adjacent to the Parking Deck on N&K Street, at no cost to Lessee, during normal Orange County business hours. Consequently, in the event Lessee shall not, for any reason, have and enjoy, at any time during the Term, and at no cost to Lessee, the exclusive use of nineteen (19) parking spaces adjacent to the Parking Deck on N&K Street during normal Orange County business hours (with the exception of any temporary unavailability of such parking spaces as a consequence of street or utility maintenance and/or repair), the number of Parking Spaces shall be increased by a number equal to the number of parking spaces that are not available to Lessee as provided above. Lessor covenants and agrees to promptly make application to the Town of Hillsborough and to prosecute. an application for the abandonment of so-much of the public right of way of N&K Street as will be necessary to insure Lessee's exclusive use of these nineteen (19) parking spaces. Lessee covenants and agrees to cooperate with Lessor, in such manner as may reasonably be requested by Lessor, with respect to any right of way abandonment application and process with the Town of Hillsborough. (d) Notices. All notices and statements required or permitted by this Lease to be given to the parties or to either of them shall be deemed sufficiently given and delivered when made in writing and personally delivered to the parties or delivered by next day courier service (i.e. FedEx, UPS, etc.), or -5- delivered by the United States Postal Service via certified mail, return receipt requested, postage prepaid and addressed to the appropriate party(ies) at the following address(es): If to Lessor: Eno River Parking Deck, LLC 1000 Corporate Drive, Suite 109 Hillsborough, NC 27278 Attention: George A. Horton, III If to Lessee: Orange County, North Carolina P.O. Box 8181 Hillsborough, NC 27278 Attention: Pam Jones, Director of Purchasing and Central Services Any such notice or statement delivered by personal delivery shall be deemed delivered and received as of the date of personal delivery. Any notice or statement delivered by next day courier service or United States certified mail as provided above shall be deemed delivered when. delivered to the next day courier service or deposited in the United States mail, and the delivery confirmation or return receipt therefrom, as applicable, shall be deemed prima facie evidence that such notice or statement was received on the date stated on such delivery confirmation or return receipt. (e) Remedies. In the event either party shall (i) default in the performance of any of its obligations pursuant to this Lease and (ii) fail to cure such default within thirty (30) days after the non- defaulting party shall have delivered to the defaulting party written notice of default and demand for cure, the non-defaulting party shall, in addition to any and all rights and remedies otherwise provided in this Lease, have any and all rights and remedies as may be available to it at law or in equity for breach of contract. (f) Waiver. No term, condition or covenant contained in this Lease shall be deemed waived by any act, omission or forbearance, or any series of same, by either Lessor orLessee. The only waivers that shall be effective under this Lease shall be those which are in writing and signed by the party to be charged. No prior notice of non-waiver need be given by a party who has previously forborne from exercising a right hereunder. (g) Condominium Unit Lease. Lessor, Lessee and Telesis Construction Management, LLC acknowledge and agree that this Lease replaces, in its entirety, paragraph 3.01(b) of that certain Lease Agreement made -and entered into by and between Telesis Construction Management, LLC and Lessee having an effective date of February 28, 2007 (the "Condominium Unit Lease"), and both Telesis Construction Management, LLC and Lessee are hereby released and discharged from their respective obligations pursuant to paragraph 3.01(b) of the Condominium Unit Lease. Telesis Construction Management, LLC and Lessee acknowledge that the Parking Area located on the west side of the Gateway Center building that is designated a Class N Limited Common Element in the Declaration of Gateway Center Condominium, which Declaration is recorded at Book 4458, Page 3, Orange County Registry, and identified as "Parking Area 1705 Sq. Ft. 0.039 Acres Class IV Limited Common Element Maximum Number of Spaces (Perpendicular) = 7" on the Gateway Center Condominium plat recorded at Plat Book 103, Page 70, Orange County Registry is not replaced, superceded or in any manner affected by this Lease. Telesis Construction Management, LLC joins in the execution of this Lease for the sole and exclusive purpose of acknowledging and consenting to the provisions of this paragraph 6(g). Telesis Construction Management, LLC shall not otherwise be bound or obligated, in any manner, by any provision of this Lease. (h) No Joint Venture. Nothing in this Lease shall constitute or be construed to constitute a joint venture between Lessor and Lessee. -6- (i) No Third Party Beneficiaries. Neither party intends to confer any rights under this Lease upon any third party. Standing to enforce this Lease shall rest exclusively in the parties hereto. (j) Headines. The section and paragraph headings in this Lease are inserted for convenience only and are in no way intended to interpret, define, or limit the scope of content of this .Lease or any provision hereof. (k) Surviving Clause. The provisions of this Lease relating to any payment or other obligation required to be made or otherwise performed by either party subsequent to any termination of this Lease shall survive any termination of this Lease by either party whether as a matter of right or in breach of this Lease, notwithstanding any other provision in this Lease to the contrary. (1) Governing Law and Jurisdiction. This Lease shall be governed by and construed, interpreted and enforced in accordance with the laws and decisions of the State of North Carolina. Any action or proceeding brought by any party to construe, interpret or enforce this Lease or any provision hereof shall be brought in the state or federal courts of North Carolina. Each of the parties to this Lease hereby submits and consents to the jurisdiction of such courts. (m) Successors and Assi rgns. This Lease shall be binding upon and inure to the benefit of Lessor and Lessee and their respective successors and assigns, if any. (n) Counterparts. This Lease may be executed and delivered, in several counterparts, and all such counterparts so delivered-and executed shall constitute but one and the same instrument. (o) Recordation. Upon the request of either party, the other party will in good faith cooperate in the preparation and execution of a recordable Memorandum of Lease. IN WITNESS WHEREOF, each of the parties hereto has caused this Lease to be executed by its duly authorized representative(s) on the day and year indicated below. LESSOR: [SIGNATURES CONTINUE ON NEXT PAGE] -7- Eno River Parking Deck, LLC, a North Carolina limited liability company LESSEE: Orange County, North Carolina, a body politic and corporate and a political subdivision of the State of Carolina ,~ ~~~ Name: ~ Title:.. OC C_ ~o `o° `~b ~~z°` Date: "~j ~~ c/ (SIGNATURES CONTINUE. ON NEXT PAGE] -8- Telesis Construction Management, LLC, a North Carolina limited liability company BY' ~ ~ (SEAL) George A. H on, III, M b~r/Mana By: Jr., (SEAL) [SIGNATUREAPAGES QbNCLUDE] 12925\O]UVi\100Parking Deck License Agreement (02.20.09 WDB CL Draft #3) GEG RL 3609 -9- EXIFIIBIT A (Parking Deck ProAerly DescriAtion) Being all of Lot 3, containing 1.00 acre, more or less, as shown on that certain plat of survey recorded in Plat Book 103, Page 20, Orange County Registry, reference to which plat of survey is hereby made for a more particular description of Lot 3. -10- EXHIBIT B IDENTIFICATION OF PARHING SPACES One hundred twenty (120) parking spaces (nos.182, 292-386, 388-41 1, inclusive) located on the third and fourth levels of the Parking Deck as generally illustrated on sheets D-2 and D-3 of that certain drawing entitled "GATEWAY CENTER PARKING" (last updated 2/25/09) prepared by or on behalf of Brockwell Associates, Inc., a copy of which drawing is attached hereto and incorporated hereinby this reference. 2. Eighty (80) parking spaces (nos. 1 through 80, inclusive) located on the ground level of the Parking Deck as generally illustrated on sheet D-1 of that certain drawing entitled "GATEWAY CENTER PARKING" (last updated 2/25/09) prepared by or on behalf of Brockwell Associates, Inc., a copy of which drawing is attached hereto and incorporated herein by this reference. -11- ~ i ~ ~ is ~~ ~ o~ ~ a'~~g,s~;~$ -~ ~ I ~ g ~+ 9~~~ s - - i ~ ., ~~~ ~ ~ e~~~3s~:~ ~i~ s i;i i, ~ ~ 1 i ~ 9.,E ® € a __ ~~. ~~o~.~~~~ ~~~€ ~~ ..uw,py C1 lwss ~ i ~ ~~..,,,,. ~ o ~~„~ µ _._. ~.._ ,~ ~ I~ I i ~ ~ ~ o-~ _ _ - I I PROPOSED LIBRARY ( SEE SHEETS 0.1 D-2 AND ~ u I t/~ w BUILDING EXISTING ~ D-3 FOR DECK PARKING ® a, ~~ 23,454-2STORY FOUNDATION ! ® ~ I) g I ~ ~ ® ~~ $ ~ ~ o~EO ~ ,~.wE ~ , a q ~ ~ ~ ~ x lid - -------- o _._ ® W ~ LJ , i p ~ m - - I' I I ,J o ~ ~ ~ ~ ~~~ II ~' jw Z ~ I - Z. 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(~ /~ ~ 1hl /~ ~/ _-,~- 8 4 ~J /~ V ~ Y1 I/'~. 'n\ ~ I ~ ' ~ i ~~98$ Alti)tliFGf5 ~P1.~Nf~S T` VL V ~.,~ ~i. ~ ~ / R~ e~ 3~as ~ i; q^~,'~ ~ ,,, 228 SOUrH CHUR ON S ROUT ~~ ~,_ a ~ ?+ 9~:4~ ~ " ""~ HILLSBOROUGH, NORTH CAROLINA I~ ~ `~_~/ - ~ ~__ EXHIBIT C Eno River Parking Deck, LLC 106 Nash & Kollock Street Managing Operator: labor only McLaudn Parking Co. Hrs/wk Wages/hr overhead cosUhr cosUwk cosUyr cost/mon Personnel 40 $ 12.50 $ 1.24 $ 13.74 $ 550 $ 28,579 $ 2,382 Total Spaces within the deck: 409 Orange County / Eno River Parking Deck, LLC Shared O eratin Costs: 7 month period Actual Costs First Year Projections For Long Term Lease Personnel payroll 11,632 19,940.57 Supplies /cleaning 700.00 1,200.00 General Liability Ins.& Property Coverage _ Liability 655.00 655.00 Structure 3,125.00 6,250.00 Misc. 1,309.00 2,244.00 System Maintenance 1,050.00 1,800.00 Golf Cart Maintenance 0.00 _ Utilities Electric 6,080.00 10,422.86 Telephone 1,732.00 2,969.14 Water 374.00 641.14 Power washing 0.00 _ Structural maintenance 0.00 _ Power sweeping $250 per quarter 250.00 428.57 Pavement marking $4,500 every 3 yrs. 0.00 _ Lighting fixture maintenance 0.00 _ Emergency alarm maint. and monitoring 0.00 first year free - Back flow preventive maint. and inspection 0.00 _ Mana ement fee 7,000.00 12,000.00 Total: 33,907.00 58,551.29 Total Shared Operating Cost per Space per Year $ 143.16 Orange County's Total First Year Shared Cost for 200 Spaces: $ 28,631.44 Eno River Parking Deck, LLC's Total First Year Shared Cost for 209 Spaces: $ 29,919.85 Eno River Parking Deck, LLC Non-Shared O eratin Costs 7 month period Actual Costs First Year Projections County Taxes $ 43,290.00 $ 43,290.00 Supplies tickets/receipts. $ 700.00 1,200.00 Other Ins. Robbery,fidelity,equipment $ 812.00 1,392.00 Monthly Audit $ 1,400.00 2,400.00 Credit card fees $ 185.52 318.03 Total: S 46,387.52 48,600.03 Eno River Parking Deck, LLC's Total Projected First Year Non-Shared Cost: $ 48,600.03 Eno River Parking Deck, LLC Shared and Non-Shared O eratin Costs First Year Projections Eno River Parking Deck, LLC's Total Projected First Year Shared Cost for 209 Spaces: $ 29,919.85 Eno River Parking Deck, LLC's Total Projected First Year Non-Shared Cost: $ 48,600.03 Eno River Parking Deck, LLC's Total Project First Year Cost: $ 78,519.88