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2. Term. The term of this Lease shall be for five (5) years and still <br /> commence on October 1, 2015 and expire on September 30, 2020. Should Lessee not be <br /> in default under this Lease, Lessee has an option to extend the term for up to an <br /> additional five (5) years, beginning at the conclusion of the original Term. <br /> 3. Rent. The Rent for the initial Term of this Lease shall be $ per <br /> month, payable in advance on the first day of the month for which due. Should the Rent <br /> for any reason not be received by the County by the fifth day of the month, a late charge <br /> of$25.00 will be added as additional Rent. Rent for the Lease extension shall be <br /> negotiated in good faith by the parties based on circumstances at the time, but shall be no <br /> less than 10%more than the Rent for the initial Term. <br /> 4. Security Deposit. At the commencement of the Lease, Lessee shall <br /> deposit with the County the sum of$ , to be held by the County to secure <br /> the faithful performance by the Lessee of all of its obligations under the Lease, including <br /> both payment and performance obligations. The Security Deposit shall be returned to the <br /> Lessee at the conclusion of the Lease, if Lessee is not in default under the Lease and is <br /> not indebted to County in any amount. <br /> 5. Net Lease. This Lease shall be entirely"net"to the County, meaning that <br /> all expense and obligations incident to the County's ownership of the Demised Premises <br /> shall be the responsibility of the Tenant, including without limitation, maintenance and <br /> repair of the Demised Premises, utilities (except utility facilities already in existence), <br /> utilities, insurance and any taxes levied on Lessee's assets and leasehold interest in the <br /> Demised Premises. Should Lessee fail to timely pay any obligation required of it by this <br /> Lease, the County may, but is not required to, pay such obligation, which amount the <br /> Lessee agrees shall be immediately reimbursed to the County, along with an additional <br /> charge of 25% of the payment amount, as a handling charge for the County having had to <br /> undertake an obligation that was primarily that of Lessee. <br /> 6. Sale and Possession of Alcohol. Sale and consumption of alcohol is <br /> permitted under this Lease, but only incident to the operation of a restaurant adjacent to <br /> the Demised Premises. Any such sale and consumption of alcohol shall be in strict <br /> compliance with the rules and regulations of the North Carolina ABC Commission and <br /> any ABC permit(s) issued to Lessee for its restaurant or the Demised Premises, as well as <br /> all zoning and other ordinances of the City of Concord. <br /> 7. Screening. Screening of the Demised Premises shall take the form of a <br /> fence and vegetative screening, to be approved in writing in advance by the County. <br /> Such screening must also be approved by the ABC Commission, if required, and by the <br /> City of Concord. Such screening shall be maintained in the required condition during the <br /> Term of the Lease, including the extension. <br /> 8. Utility Easements. The provisions of this Lease shall be subject to the <br /> rights of access of any utility providers with easements running through the Demised <br /> Premises. Should maintenance and repair of such utilities be required such that it <br /> interferes with Lessee's use and enjoyment of the Demised Premises, neither the County <br /> nor the utility providers shall be liable to the Lessee for any loss of use of the Demised <br /> Premises. The County will be responsible to the Lessee for any damages or loss it causes <br /> 2 Attachment number 2\n <br /> E-1 Page 24 <br />