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THIS LEASE DOES NOT BECOME EFFECTIVE UNTIL EXECUTED <br />BY THE NORTH CAROLINA DEPARTMENT OF CORRECTION <br />STATE OF NORTH CAROLINA <br />LEASE AGREEMENT <br />THIS LEASE AGREEMENT, made and entered into this the day of <br />, 2012, by and between COUNTY of CABARRUS hereinafter <br />designated as Lessor, and the STATE OF NORTH CAROLINA, hereinafter designated <br />as Lessee; <br />WITNESSETH: <br />WHEREAS, authority to approve and execute this lease agreement was delegated <br />to the Department of Administration by resolution adopted by the Governor and Council <br />of State on the 1 St day of September, 1981; and <br />WHEREAS, the Department of Administration has delegated to this State agency <br />the authority to execute this lease agreement by a memorandum dated the 17 day of <br />April, 1985; and <br />NOW THEREFORE, in consideration of the rental hereinafter agreed to be paid <br />and the terms and conditions hereinafter set forth, Lessor does hereby let and lease unto <br />Lessee and Lessee hereby takes and leases from Lessor for and during the period of time <br />and subject to the terms and conditions hereinafter set out certain space in the City of <br />Concord, County of Cabarrus, North Carolina, more particularly described as follows: <br />Being +/- 6,350 net square feet of office space located at 77 Union Street South, <br />Concord, Cabarrus County, North Carolina. <br />(DEPARTMENT OF CORRECTION) <br />THE TERMS AND CONDITIONS OF THIS LEASE AGREEMENT ARE AS <br />FOLLOWS: <br />1. The term of this lease shall be for a period of three (3) Years <br />commencing on the 1st day of July, 2012 or as soon thereafter as the leased premises are <br />ceded to the Lessee and terminating on the 30 day of June 2015. <br />2. The Lessee shall pay to the Lessor as rental for said premises the sum of $1.00 <br />Dollars per term to be payable within fifteen (15) days from receipt of invoice in <br />triplicate. <br />The Lessee agrees to pay the aforesaid rental to Lessor at the address specified, or, <br />to such other address as the Lessor may designate by a notice in writing at least fifteen <br />(15) days prior to the due date. <br />Attachment number 1 <br />F -2 Page 86 <br />