AG 2005 01 24 - Laserfiche WebLink

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THIRD AMENDMENT TO LEASE AGREEMENT THIS THIRD AMENDMENT TO LEASE AGREEMENT is made and entered into this the third day of December, 2004,by and between the COUNTY OF CABARRUS, NORTH CAROLINA (hereafter, "County") and the CHURCH OF GOD CHILDREN'S HOME OF NORTH CAROLINA, INC. (hereafter, the "Children's Home") . WITNESSETH: WHEREAS, on or about the 15th day of February, 1999, the County and the Children's Home entered into a Lease Agreement (the "Lease") providing for the lease of certain property located at 760 Orphanage Road in Cabarrus County, North Carolina and more fully described in the Lease (which description is incorporated as if more fully set forth herein) from the Children's Home to the County beginning February 15th 1999 through February 15, 2019, for purposes of providing recreational services to County citizens (the "Property"); and WHEREAS, the Lease was subsequently modified and amended on or about June 29, 2000 and on or about October 15, 2002; and WHEREAS, the parties desire to. further modify and amend the Lease as set forth herein, in order to qualify to receive certain grants available to the County through the North Carolina. Parks and Recreation Trust Fund ("PARTF")j NOW THEREFORE, in consideration of the premises and other good and valuable consideration, acknowledged by the parties hereto to be sufficient, the parties agree as follows: 1. Section 1.1. Amended. The parties hereto agree that Section 1.1 of the Lease is hereby modified and amended in its entirety to read as follows: 1.1 Lease of the Property. Beginning February 16, 2019, the parties hereby agree that the County shall lease the Property from the Children's Home through February 15, 2033 at an annual rent of $1.00 per year, payable in advance. Parties can negotiate an extension of a minimum of up to twenty (20) years to the term of the Lease. The Property shall be used for park development and recreational purposes. The County shall not be permitted to enter into any subleases of the Property without prior written consent of the Children's Home. However, use of the Proper~y as a public facility, asset forth herein, which may from time to time result in third party use of the Property for a fee, shall not be construed as subletting for purpo~es of this Lease. 2. Miscellaneous. The parties agree: 1) to execute all necessary documentation needed from time to time in order to properly apply for certain grants available to the County with regard to the Property, including without limitation, state funds available through PARTF; and 2) to enter into and record a Memorandum of Lease which sets forth the modified term of the Lease, which Memorandum of Lease is attached hereto and incorporated as if more fully set forth herein. Except as specifically amended herein, the remai~ing terms and conditions of the Lease, as modified and amended from time to time; shall remain in full force and effect. 1-- 1 ~