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STATE OF NORTH CAROLINA COUNTY OF CABARRUS REAL PROPERT~ LEASE This Real Property Lease made and entered into this the -- day of January, 1988, by and between CABARRUS COUNTY, a Corporate Body Politic existing under the laws of the State of North Carolina, p~rty of the first part, hereinafter referred to as "Lessor"; and pARA MOTOR SPORTS, INC., a North Carolina Corporation with its primary place of business in Cabarrus County, North Carolina, party of the second part, hereinafter referred to as "Lessee"; W I T N E S S E T H: That subject to the terms and conditions hereinafter set forth the Lessor doth hereby lease unto the Lessee and the Lessee doth hereby accept as Lessee of the Lessor a certain parcel of land lying and being in Cabarrus County, North Carolina and being more particularly described as follows: Lying and being in Number Five (5) Township, Cabarrus County, North Carolina, on the West side of Irish Potato Road {S.R. #2411) and being more particularly described by metes and bounds as follows: BEGINNING at a point on the West of Irish Potato Road {said point being the Northeast corner of Lewis W. Cress, now or formerly) and runs thence two {2) lines with Cress, (lst] south 65-00-05 West 541.73 feet; {2nd) North 79-35-40 W~st 1,021.83 feat to a point in the line of a 25 acre tract owned by Cabarrus County; thence North 16-30-25 East 922.53 feet to an existing iron pin; thence South 86-36-30 West 165.61 feet to an existing iron pin; thence in a Northwesterly direction approximately 300 feet to a point in the line of Reusha B. H~rley {said line being shown as a dotted line on the attached map); thence with the line of Barley, North 74-27-30 East approximately 860 feet to a point in the West edge of Irish Potato Road as it runs in a Southeasterly direction approximately 1,528.12 feet to the poiBt o~ BEGINNING. The above described property is part of a 145.87 acre tract as described in a deed from Wannie Cress Richards (Widow) to Cabarrus County dated July 2, 1979 and recorded in Deed Book 508, Page 144, Cabarrus County Registry and includes an 18.75 acre tract as shown on an attached Cabarrus County tax map. It is the intention of the ~essor and the lessee that the lessor lease unto the lessee all of the property as outlined on the attached Cabarrus County tax map.