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521
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<br />such event, at the option of County, County shall the right to re-enter the
<br />Demised Premises or any part thereof and thereupon this lease shall
<br />terminate.
<br />
<br /> 7. Notices. Any notice required by the terms of this Lease shall be
<br />mailed to County, c/o County Manager, Cabarrus County Courthouse, Concord,
<br />North Carolina 28025, and to Fair, c/o Clyde L. Propst, Jr., General
<br />Manager, P. O. Box 563, Concord, North Carolina 28026.
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<br /> And, further, for and in consideration of the mutual covenants herein
<br />set forth, Fair leases to County and County takes and leases from Fair all
<br />that real property as shown and identified in Exhibit B, by red perimeter
<br />lines, attached hereto and incorporated herein be reference (hereinafter
<br />sometimes referred to as "Demised Premises"). County shall have and hold
<br />the Demised Premises subject to the following covenants and conditions:
<br />
<br /> 1. Term. The term of this Lease shall commence on November 1, 1988,
<br />and shall expire on October 31, 1989, EXCEPT: The term of this lease shall
<br />not include the dates of September 7-17 (inclusive) 1989 (which is the time
<br />of the Cabarrus County Agricultural Fair), and County agrees to vacate the
<br />Demised Premises during said dates.
<br />
<br /> 2. Rent/Consideration. As rental for the Demised Premises, County
<br />agrees as follows:
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<br /> (a) County shall keep the Demised Premises clean and in a good
<br />state of repair during the term of this lease, and shall be permitted
<br />entry thereof for such purpose during all of said period.
<br />
<br /> 3. Use of Demised Premises. The Demised Premises are leased exclu-
<br />sively for use as a parking lot. County shall comply with existing zoning,
<br />health, and other police regulations and shall neither conduct nor permit to
<br />be conducted any nuisance upon the Demised premises.
<br />
<br /> 4. Indemnification and Insurance. County agrees to indemnify and
<br />save harmless Fair of and from any and all claims or liability to persons or
<br />property caused or resulting in any manner by reason of County's occupation
<br />or use of the Demised Premises. County further consents and agrees to
<br />maintain liability insurance (naming Fair as an additional named insured)
<br />for injury or damage to any person while on the Demised Premises during the
<br />term of at least $1,000,000.00 for injury or damage to one person and
<br />$1,000,000.00 for injury or damage to two or more persons.
<br />
<br /> 5. Termination. Upon termination of this Lease, County consents and
<br />agrees to return the Demised Premises to Fair in as good condition as the
<br />same now is, ordinary wear and tear excepted.
<br />
<br /> 6. Default. In the event of breach or default by County in perfor-
<br />mance of any covenant or condition herein contained, such default or breach
<br />having continued for ten (10) days after written notice to County by Fair,
<br />then, in such event, at the option of Fair, Fair shall the right to re-enter
<br />the Demised Premises or any part thereof and thereupon this Lease shall
<br />terminate.
<br />
<br /> 7. Notices. Any notice required by the terms of this Lease shall be
<br />mailed to County, c/o County Manager, Cabarrus County Courthouse, Concord,
<br />North Carolina 28025, and to Fair, c/o Clyde L. Propst, Jr., General
<br />Manager, P. O. Box 563, Concord, North Carolina 28025.
<br />
<br /> 8. Miscellaneous. County will install any fencing deemed by it
<br />necessary and desirable, and will provide adequate gates between the Demised
<br />Premises and the remainder of the adjoining property of the Fair, at
<br />County's expense. Such fencing and gates will be placed so as to preserve
<br />the security of the Fair in such a manner as is presently in place. County
<br />may also level the Demised Premises, pave said premises, and provide an
<br />entrance from the Demised Premises to Hwy. 601-South, if desired (County to
<br />obtain all necessary permits and comply with all laws regarding any such
<br />development of the Demised Premises). It is understood that the Fair is to
<br />have the full privilege of using the Demised Premises during the time of the
<br />
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