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374
<br />
<br />NORTH CAROLINA
<br />
<br />CABARRUS COUNTY
<br />
<br />LEASE AGREEMENT
<br />
<br /> THIS LEASE AGREEMENT, made and executed this 2nd day of
<br />December, 1991, by and between CABARRUS COUNTY, a political
<br />subdivision of the State of North Carolina (hereinafter "County"),
<br />and THE CABARRUS COUNTY AGRICULTURAL FAIR, INC., a North Carolina
<br />Corporation (hereinafter "Fair");
<br /> W I T N E S S E T H; that --
<br /> For and in consideration of the mutual covenants and
<br />agreements hereinafter set forth, County leases to Fair and Fair
<br />takes and leases from County all that real property lying within the
<br />"Fence" on the 14.20 acre tract described and identified in "Exhibit
<br />A" attached hereto and incorporated herein by reference (hereinafter
<br />sometimes referred to as the "Demised Premises");
<br /> Fair shall have and hold the Demised Premises subject to the
<br />following covenants and conditions:
<br /> 1. Term. The term of this Lease shall commence on August 15,
<br />1992, and shall expire on October 15, 1992.
<br /> 2. Rent/Consideration As rental for the Demised Premises,
<br />Fair agrees as follows:
<br /> (a) Fair shall mow the Demised Premises, together
<br /> with Fair's 11.98 acre tract adjacent thereto,
<br /> identified on "Exhibit A", at least once per month
<br /> during the period May - October, 1992.
<br /> (b) Fair shall keep the Demised Premises clean and
<br /> in a good state of repair during the term of this Lease,
<br /> and shall be permitted entry thereof for such purpose
<br /> during all of said period.
<br /> 3. Use of Demised Premises. The Demised Premises are leased
<br />exclusively for use as an agricultural fair and associatedamusement
<br />activities. Fair shall comply with existing zoning, health, and
<br />other police regulations and shall neither conduct nor permit to be
<br />conducted any nuisance upon the Demised Premises.
<br /> 4. Indemnification and Insurance Fair agrees to indemnify
<br />and save harmless County of and from any and all claims or liability
<br />to persons or property caused or resulting in any manner by reason
<br />of Fair's occupation or use of the Demised Premises. Fair further
<br />consents and agrees to maintain liability insurance for injury or
<br />damage to any person while on the Demised Premises during the term
<br />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 /> 5. Termination. Upon termination of this Lease, Fair
<br />consents and agrees to return the Demised Premises to County in as
<br />good condition as the same now is, ordinary wear and tear excepted.
<br /> 6. Default. In the event of breach or default by Fair in
<br />performance of any covenant or condition herein contained, such
<br />default or breach having continued for ten (10) days after written
<br />notice to Fair by County, then, in such event, at the option of
<br />County, County shall have the right to re-enter the Demised Premises
<br />or any part thereof and thereupon this Lease shall terminate.
<br /> 7. Notices. Any notice required by the terms of this Lease
<br />shall be mailed to County, c/o John V. Witherspoon, County Manager,
<br />Cabarrus County Governmental Center, Concord, North Carolina 28025,
<br />and to Fair, c/o Harold B. McEachern, General Manager, P. O. Box
<br />563, Concord, North Carolina 28026.
<br /> And, further, for and in consideration of the mutual covenants
<br />herein set forth, Fair leases to County and County takes and leases
<br />from Fair all that real property as shown and identified in Exhibit
<br />B, by red perimeter lines, attached hereto and incorporated herein
<br />by reference (hereinafter sometimes referred to as "Demised
<br />Premises"). County shall have and hold the Demised Premises subject
<br />to the following covenants and conditions:
<br /> 1. Term. The term of this Lease shall commence on
<br />November 1, 1991, and shall expire on October 31, 1992, EXCEPT: The
<br />term of this Lease shall not include the dates of September 10-20
<br />(inclusive), 1992 (which is the time of the Cabarrus County
<br />Agricultural Fair), and County agrees to vacate the Demised Premises
<br />during said dates.
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