HomeMy WebLinkAbout2017-621 AMS - 401 Valley Forge Road Lease Modification®/
Return after recording to: Orange County Asset Management Services, 131 West Margaret Lane,
Hillsborough, NC 27278
LEASE MODIFICATION
THIS MODIFICATION OF LEASE , and entered into this 19th day of September, 2017 by and
between ORANGE COUNTY, NORTH CAROLINA (hereinafter "Lessor" and /or "Landlord" and /or
"County "), and BUILDERS FIRSTSOURCE — ATLANTIC GROUP, LLC, as successor by conversion to Builders
FirstSource — Atlantic Group, Inc. (hereinafter "Lessee" and /or "Tenant ");
WITNESSETH
Recitals:
Whereas County and Tenant entered into that certain Lease Agreement dated June 3, 1997, 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 has leased the Property known as 401 Valley Forge Road, Hillsborough
containing 105,000 square feet and the associated site area which Lease Agreement has an expiration
date of September 30, 2017; and
Whereas, County and Tenant desire to extend the Lease Agreement by amending its Terms;
Now, therefore, the County and Tenant hereto hereby agree as follows:
Terms:
1. The recitals to this Modification are hereby incorporated into and made a part of this
Agreement.
2. The expiration date of the Lease shall be September 30, 2027.
3. The Rent for the premises for the Lease period shall be as follows:
Monthly: $24,500 Annually: $294,000 Full Term:$2,940,000
4. Subject to County approval the Tenant will have the right to execute two (2) consecutive
renewal options for a Term of five (5) years each for consideration to be mutually agreed upon
by the County and the Tenant at a time preceding the contemplated renewal period:
Renewal option one (1): October 1, 2027 — September 30, 2032
Renewal option two (2): October 1, 2032 — September 30, 2037
5. The Tenant will ensure a facility roof replacement is completed no later than September 30,
2020 in accordance with the Lease. Specifications for the roof replacement will be reviewed and
approved by the County prior to replacement; approval will not be unreasonably withheld.
6. 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.
[SIGNATURE PAGE TO FOLLOW]
IN WITNESS WHEREOF, the County and Tenant hereto have executed this Modification of Lease the
day and year first above written.
LESSOR
ORANGE C, UNTY
By: r
Chair, Board of Commissioners
NORTH CAROLINA
ORANGE COUNTY
TENANT
BUILDERS FIRSTSOURCE — ATLANTIC GROUP, LLC
By: (- rlte-yhu-ol Title
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I, { OMelli -15 Notary Public of Orange County, North Carolina
certify that Mark Dorosin, Chair of the Board of Commissioners of Orange County, North Carolina
personally appeared before me this day and acknowledged the due execution of the foregoing
instrument.
Witness my hand and official stamp or seal this �,� �' ay of J Y , 2017.
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lyotary Public
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certify that -!:) tr� Y-Y\ CA H-eetyc,. -y--, personally appeared
before me this day and acknowledged the due execution of the foregoing instrument.
Witness my hand and official stamp or seal this day of Sa%111�- n1�.� -e-tr' , 2017.
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Trade Johnson
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commission 0 +30415268
'� , E*pires: 11118/2019