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NORTH CAROLINA HISTORIC COURTHOUSE <br />LEASE AGREEMENT <br />CABARRUSCOUNTY <br />THIS LEASE, is made and entered into effective the 1St day of January, 2007 by <br />and between CABARRUS COUNTY, North Carolina, a body politic and political <br />subdivision of the State of North Carolina (hereinafter called the "County") and THE <br />CABARRUS ARTS COUNCIL, INC., anon-profit corporation organized and existing <br />under the laws of the State of North Carolina, having its principal office in the City of <br />Concord, Cabarrus County, North Carolina (hereinafter called "Arts Council"). <br />WITNESSETH THAT: <br />WHEREAS, County is the owner of a tract of real property located in the City of <br />Concord, Cabarrus County, North Carolina, hereinafter described, known as the "Old <br />Cabarrus County Courthouse" (hereinafter referred to as the "Courthouse") more fully <br />described as: <br />Lying and being in Ward No. 3 of the City of Concord, North <br />Carolina, on the east side of South Union Street and on the south <br />side of Means Avenue and being the lot upon which the old Cabarrus <br />County Courthouse is located and described as follows: <br />BEGINNING at a point in the southeast intersection of <br />South Union Street and Means Avenue and running thence with <br />Means Avenue in an easterly direction to a point: thence in a <br />southerly direction parallel with and 40 feet from the rear wall of the <br />Cabarrus County Courthouse to a point: thence in a westerly <br />direction along a line midway between the south wall of the <br />Cabarrus County Courthouse and the edge of the bottom step on the <br />north side of the new Cabarrus County Courthouse to a point in the <br />east edge of South Union Street; thence with South Union Street in a <br />northerly direction to the BEGINNING. <br />WHEREAS, the parties have agreed to enter into this lease agreement for a <br />portion of the above described property based on the terms and conditions set forth <br />below. <br />NOW THEREFORE, in consideration of the premises and other good and <br />valuable consideration, the sufficiency of which the parties hereby acknowledge, the <br />parties agree as follows: <br />~-~ <br />