HomeMy WebLinkAbout2015-109-E AMS - Tricor Hillsborough Commons LLLP - Lease modification DocuSign Envelope ID:A7F8DE17-B1A2-4B19-BFCF-E30491A3B4EB
LEASE MODIFICATION
THIS MODIFICATION OF LEASE made and entered into this 31st day of
December 20 14 by and between HILLSBOROUGH COMMONS, LLLP as Landlord, and
ORANGE COUNTY,NORTH CAROLINA, Tenant;
WITNESSETH:
Whereas Landlord and Tenant entered into that certain Lease Agreement dated July 25,
2008, in connection with certain premises situated and being in Orange County and the State of
North Carolina being more particularly described in said Lease Agreement; and
Whereas, Tenant's current leased space, Unit 01 has 56,328 square feet ("Current
Space"); and
Whereas, Tenant desires to expand into the adjacent location, Unit 03 containing 10,1 16
square feet("Expansion Space") for one (1) year; and
Whereas, Landlord and Tenant desires to amend said Lease Agreement to increase the
size of Tenant's space.
Now, therefore, for and in consideration of the sum of$1.00 and other good and valuable
consideration each to the other paid the receipt and sufficiency of which consideration is hereby
acknowledged, the parties hereto hereby agree as follows:
1. Tenant shall expand into the Expansion Space as shown on Exhibit A,
attached hereto.
2. Tenant's Lease of Unit 03 the Expansion Space, shall commence on January
1, 2015, and expire on December 31, 2015, a term of one (1) year.
3. Tenant's Minimum Rent for the Expansion Space shall be:
$127,462 annually; $10,622 per month.
4. hn addition, Tenant shall pay the Real Estate taxes for the Expansion Space.
Should the Expansion Space not be taxed as a separate parcel, Tenant shall
pay Tenant's pro rata share of the Real Estate Taxes prorated as a ratio of
the buildings included in the tax bill.
5. Tenant hereby acknowledges the Demised Premises has been previously
1
occupied by another Tenant and as a material consideration to this Lease,
Tenant shall accept possession of the Demised Premises, in an "as is"
condition. Landlord shall have no obligation to perform or cause the
LEASE MODIFICATION— HILLSBOROUGH COMMONS
k
ORANGECOUNTY
I
DocuSign Envelope ID:A7F8DE17-B1A2-4B19-BFCF-E30491A3B4EB
performance of construction of any improvements to the Demised Premises
prior to delivery thereof to Tenant. Tenant hereby acknoNvledges that
Landlord has made no representations or N-varranties to Tenant Nvith respect
to the condition of the Demised Premises or the working order of any
systems or improvements therein existing as of the date of delivery
6. Notwithstanding 5. hereinabove, Landlord shall deliver the Expansion Space
with the Electrical, Plumbing, and HVAC systems in good working order.
Tenant will remove existing mastic from flooring and will provide the
Landlord cost information for this removal so that the Landlord can recover
these costs from the previous tenant ("Dollar Tree") and reimburse the
Tenant.
7. In all other respects said Lease Agreement shall remain in full force and
effect unchanged and shall not be altered in any way by this modification.
IN WITNESS WHEREOF, the parties hereto have exeCUted this Modification of Lease
the day and year first above written.
Signed, sealed and delivered HILLSBOROUGH COMMONS LLLP
in the presence of: BY: HILLSBOROUGH SHOPPING CENTER,
INC. qcu ,,SAL PARTNER
By:
arc . agle, CEO
ORANGE COUNTY, NORTH CAROLINA
1 jDocuSigned by:
OV�kAf. C1AaMWltrsb.
0637994B755E477...
Bonnie Hammersley
Print Name
LEASE MODIFICATION— HILLSBOROUGH COMMONS
ORANGECOUNTY
2
DocuSign Envelope ID:A7F8DE17-B1A2-4B19-BFCF-E30491A3B4EB
EXHIBIT A
4.
—71
r
ell,
ROT
le,
If'
4a F
O�P
LEASE MODIFICATION HILLSBOROUGH COMMONS
ORANGECOUNTY