AG 2000 09 18 - Laserfiche WebLink

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STATE OF NORTH CAROLINA COUNTY O1' CABARRU$ LEASE AGI~I*.I*.MENT TH~ AGREEMENT is made and entered into this the~t},day of August, 2000, by and .between the Coam7 of Cabarrm (hereinafter referred to as "County") and the City of Kanna~lis (her~aP~r referred to as "City"). WH'gREAS, thl.q agra-merit is execuled pumuant to G.S. 160A-274 and G.S. 153A-165 providing for the lease and joint use of governmental property; and WHtCREAS, it is the desire of the partie~ hereto that they enter into an ~t whereby the City would lea.se the property described herei,nafter from the County upon terms a~d conditiom ~ forth therein; NOW ~FORE, upon vah~able consideration, the receipt of which is hereby acknowledged by each party, and upon the premi.qe~ contained herein, the partie~ agree as follows: 1.0 Reeltais and Prior ~A.greement. The recitah co;nta'inPd above are incoI10orated herein as a part of this a~mt. 2.0 ~. Upon tenm and conditiom set forth herein County do~ hereby demise and lea~e unto City an appw~imatety 13.77 acre tract of land on the south side of Forest Park Drive, ~:ann ~apO1/.q, North Carolina (the Property), a map of which prolxm'y is attached hereto a~ Exhibit "A" and incorporated as a part of this agreement. 3.0 Term. The term of this lease shall he for a l~/ocl of twenty (20) years heg~nnlng September 1, 2000 and ending at 12:01 a.m. August 31, 2021. 4.0 Annual_Rent. The rent for th!.q lease shall he one dollar ($1.00) payable anm~lly in advanc~ on September 1st of eachlease year. 5.0 Use. The Property is accepted for use a~ a public park and will be used and developed for such purpose. 6.0 Property. III/lite. City will pay for all water, sewer and other Iltitity chnrges for services to the 7.0 lndemni~ and In.qurance. City does hereby inde-,,ify and hold harmless the County for all liability, los, expenses, including attoI~y fees, and costs of any kind or _nan~'e whatqoevcr resulting from any injuries or dawage claims. City shall maintain in force dm-lng the term of this lease, public liability imurance, nami~ Ccnmty as an additinml ix]sured, with coverage in an amount of no less than $1,000,000.00 per occmtc-x:tce. A copy of said policy or endorsement and each renewal thereof during the term of this lease shah be delivered to Coum7. 8,0 Entry. . Upon Abandonment. In the eve~ City, at any time during the term of this lease aba~dom the Property or any part thereof, Cc~mty may, at County's option, retake possession of the 9.0 Each party to this agreement further agrees as follows: