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AG 2004 09 20
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AG 2004 09 20
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Last modified
11/20/2006 9:57:06 AM
Creation date
11/27/2017 11:39:06 AM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
9/20/2004
Board
Board of Commissioners
Meeting Type
Regular
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<br />SUBLEASE AGREEMENT <br /> <br />Re: Office Space, 1305 S. Cannon Blvd. <br />Kannapolis, Cabarrus County, NC <br /> <br />This Sublease Agreement (the "Sublease") is made as of April!, 2004, by and <br />between CABARRUS COUNTY, a political subdivision of the state of North Carolina <br />("Sublessor"), with its principle place of business at 65 Church Street, SE, Concord, <br />NC 28025, and Daymark Recovery Services, Inc., a North Carolina non-profit <br />corporation ("Subtenant"), whose principle address is 1305 S. Cannon Blvd., <br />Kannapolis, NC 28083. <br /> <br />1. Relationship of Parties. Sublessor leases from Kannapolis Land, Inc. ("Prime <br />Lessor") certain property located at 1305 South Cannon Boulevard, Kannapolis, North <br />Carolina, a portion of which the Subtenant wishes to sublease from Sublessor in <br />accordance with the terms and conditions of this Sublease. ,1 <br /> <br />2. Description of Leased Premises. Sublessor hereby subleases to Subtenant, "as is", <br />approximately 19,270 square feet including existing office space and allocated shared <br />space (the "Premises"). The Premises are more clearly set forth in Exhibit A. attached <br />hereto and incorporated herein. The Premises are within the building (the "Building") <br />on the real property as more fully illustrated and the legal description of which is <br />included in Exhibit A. (The Premises, the Building and the real property on which <br />they are located may from time to time be collectively or singularly referred to herein <br />as the "Lànd"). The Premises contain the fixtures, improvements and other real or <br />personal property now installed on the Premises plus any future permitted <br />modifications, alterations and improvements thereto. <br /> <br />2. Lease Term. The initial term of this Sublease shall begin on April 1, 2004 and shall <br />continue through June 30, 2005 (the "Initial Term"), unless sooner terminated pursuant to <br />the terms hereof Provided Subtenant is not in default hereunder, Subtenant shall have <br />the option to extend the Initial Term of this Lease for one consecutive renewal term of <br />one (1) year, beginning July 1, 2005 through June 30, 2006 ("First Renewal Term") and <br />one additional consecutive renewal term ofeleven (11) months, beginning July 1,2006 <br />through May 31, 2007 ("Second Renewal Term") on the same terms and conditions as set <br />forth herein, provided Subtenant notifies Sublessor in writing of its intent to enter into the <br />respective renewal term(s) at least one hundred and twenty (120) days prior to the end of <br />the then current sublease term. In the event of holding over by Subtenant without <br />Sublessor's written consent, Subtenant shall pay Rent equal to twice the applicable Rent <br />and Additional Rent plus other sums due from time to time hereunder. Possession by <br />Subtenant after the expiration of this Sublease shall not be construed to extend the last <br />term hereunder. <br /> <br />3. Basic Rent. Subtenant agrees to pay to Sublessor basic rent ("Rent") for the use of <br />the Premises during the Initial Term in the aggregate amount of One Hundred Forty <br />Two Thousand Four Hundred Seventy Six Dollars and Thirty/One Hundredths Cents <br /> <br />- ¡::.." <br />
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