HomeMy WebLinkAboutNS Purchasing - Lease Amendment for Driver License Bureau Lease - 4-18-95 - VIII-D r
STATE OF NORTH CAROLINA
COUNTY OF ORANGE LEASE AMENDMENT
THIS LEASE AMENDMENT,made and entered into this, the 18th day of April, 1995,between
CARRBORO BELMAN S.C. LIMITED PARTNERSHIP,by Property Resources (LANDLORD)
and the County of Orange (COUNTY);
WHEREAS, a lease agreement was made and entered into as of the 6th day of February, 1995
between the COUNTY and the LANDLORD;
WHEREAS,the County and the Landlord desire to amend the lease agreement;
NOW THEREFORE,the County and the Landlord mutually agree to the following.
Section 3 "Guaranteed Minimum Rental"shall be modified to read:
3. GUARANTEED MDMKUM RENTAL. Effective May 1, 1995,the COUNTY agrees to pay to the
LANDLORD at the office of the LANDLORD or at such other place designated by the LANDLORD, the
guaranteed rental of $821 per month payable on or before the 1 st day of each calendar month Effective on the
first day of each Lease Year after the first Lease Year("Adjustment Date"),the Guaranteed Minimum Rental
shall be increased by the amount determined by multiplying the Initial Rental Rate by that percentage which
represents any cost of living increase between the Commencement Date and the Adjustment Date. Such
parentase shall be deter mined by utilizing the applicable indices determined by the United State Bureau of labor
Statistics(or its sued )through its Consumer Price Index entitled"United States City Average,
All two-All Urban Cons ers Index". Such adjustment shall be made effective as of the Adjustment Date,as
soon as possible after the index for the applicable month a published,with any deficiency due and payable with
the nod monthly installment of rental Anything contained herein to the contrary notwithstanding,in the event
that the adjustment would reduce the monthly rental from the monthly rental in effect for the preceding Lease
Year,no such adjustment shall be made and the rental then in effect shall continue through the next Adjustment
Date. Any other sums of money or charges to be paid by the COUNTY pursuant to the provisions of any other
section of this Lease other than the Guaranteed Minimum Rental shall be designated as"Additional Charges".
All other terms and conditions shall remain the same.
The parties hereto have ewcuted this LEASE AMENDMENT as of the date and year fast written
above.
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LANDLORD: CARRBORO BELMAN,S.C.
Limited Partnership
BY: Troon Project Management Corp.
General Partner
ATTEST:
Secretary Spencer Waxman
Vice President
i
AFM CORPORATE SEAL,
COUNTY: ORANGE COUNTY
Beverly A.Blythe,Clerk Moses Carey,Jr.,Chair
Board of Commissioners Board of Commissioners