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n <br />NORTH CAROLINA LEASE (AMENDED AND RESTATED) <br />CABARRUS COUNTY Re: Bus Maintenance Facility - <br />Union Cemetery Road SW <br />THIS LEASE (AMENDED AND RESTATED) is entered into with an intended <br />effective date of August 18, 2008 (the "Effective Date"), by and between CABARRUS <br />COUNTY, NORTH CAROLINA, a public body politic and a political subdivision of the State of <br />North Carolina, as Lessor (the "County"), and the CABARRUS COUNTY BOARD OF <br />EDUCATION, a body politic and school administrative unit duly organized and existing under <br />the laws of the State of North Carolina, as Lessee (the "Board of Education"); <br />WITNE5SETH: <br />The County and the Board of Education have previously entered into a Lease for a term <br />from August 18, 2008 through June 30, 2010, relating to the real property that is the subject of <br />this Lease (Amended and Restated), and a8er entering into that Lease, the description of the real <br />property within the scope of that Lease was revised to accommodate construction requirements <br />for the new facilities, and the Lease needs to be revised to amend the legal description of the real <br />property and to make minor corrections and revisions to portions thereof . Therefore, the County <br />and the Board of Education have entered into this Lease (Amended and Restated) to amend and <br />restate the prior Lease with the intent and understanding that this Lease (Amended and Restated) <br />shall replace the prior Lease and the prior Lease shall be of no further force or effect. <br />The County and the Board of Education have previously determined to cooperate in a <br />plan for the construction and financing of improvements upon real property for certain public <br />school facilities which each has found to be necessary and desirable to provide for improved <br />public education in the County. <br />Included among such facilities are improvements to real property constituting a bus <br />maintenance facility (the "Facilities"), which will lie on the property shown on Exhibit A (the <br />"Site"). <br />In furtherance of this plan of financing and to provide for improved public school <br />facilities for County residents, the County proposes to lease the Site to the Board of Education, <br />and the Board of Education has determined to accept such lease. <br />NOW, THEREFORE, for and in consideration of the mutual promises and covenants <br />herein contained, the parties hereto agree as follows: <br />ARTICLE I <br />DEFINITIONS; RULE OF CONSTRUCTION <br />The following terms will have the meanings specified below, unless the context clearly <br />WCSR 4071622v1 <br />Attachment number 3 <br />F-10 Page 138 of 320 <br />C <br />7 <br />~i <br />i] <br /> <br /> <br /> <br /> <br />i~ <br />fl <br />0 <br />n <br />i <br />C <br /> <br /> <br />i] <br />n <br />