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<br /> TO HAVEAND TO HOLD the Demised Premises upon those conditions
<br />and with those privileges set forth herein for the term herein set
<br />forth, subject to the following covenants and conditions:
<br /> 1. Term: The tenancy hereby demised shall commence on the
<br />date of this Lease Agreement, and shall continue until the first to
<br />occur of: (a) the Tenant's cessation of operation of an ambulance
<br />and rescue facility thereon; or (b) a period of ten (10) years,
<br />through and including December 31, 1999.
<br /> 2. Rental: The Tenant shall pay to the Landlord, as rental
<br />for the Demised Premises, the sum of One Dollar ($1.00) per year.
<br />Such rental shall be paid, in advance, to Landlord on or before the
<br />1st day of each January beginning on the 1st day of January, 1990.
<br /> 3. Utilities: The Tenant shall pay all charges for
<br />telephone, electricity, water, gas, and other utilities used by
<br />Tenant on the Demised Premises. Landlord shall provide Tenant with
<br />access to such utilities at all times.
<br /> 4. Tenant's Repairs: Upon acceptance of the Demised Premises
<br />by Tenant, Tenant shall keep the interior of the Demised Premises,
<br />including sewage disposal, in good condition and repair, excepting
<br />those structural or other repairs which are the responsibility of
<br />the Landlord.
<br /> Additionally, Tenant shall, at its cost and expense, keep and
<br />maintain the roof, exterior, and exterior walls of the building
<br />located on the Demised Premises in good condition and repair.
<br /> 5. Heating and Gooling Systems: Tenant shall maintain the
<br />heating and cooling systems, if any, on the Demised Premises.
<br /> 6. Signs, Fixtures, and Interior Alterations: Tenant, at its
<br />own expense, may from time-to-time during the term of this Lease,
<br />make any interior alterations, install fixtures or signs which it
<br />may deem necessary or desirable to the premises and which do not
<br />adversely affect the structural integrity thereof; such improvements
<br />shall be made in a good workmanlike manner and in accordance with
<br />all valid requirements of Municipal or other Governmental
<br />authorities. Ail permanent structural improvements shall belong to
<br />the Landlord and shall become a part of the premises upon
<br />termination or expiration of this Lease. Tenant shall have the
<br />right to remove all or any part of the Tenant's equipment, fixtures,
<br />or signs from the Demised Premises at any time. Landlord shall have
<br />the right to approve all signs installed by Tenant.
<br /> 7. Liability Insurance. Tenant shall carry, at its expense,
<br />public liability insurance on the Demised Premises, with a
<br />contractual liability endorsement in favor of the Landlord on the
<br />policy, with a company qualified to transact business in North
<br />Carolina, stipulating limits of liability of not less than One
<br />Million Dollars ($1,000,000.00) per occurrence.
<br /> 8. Fire Insurance. Tenant shall carry, at its expense, fire
<br />extended coverage insurance in the amount of at least Eighty-Five
<br />Thousand Dollars ($85,000.00) on the Demised Premises in the amount
<br />of full insurable value thereof, naming Landlord as Primary Insured
<br />thereunder. Tenant may carry such insurance on the contents of the
<br />building as Tenant deems necessary. In the event the Demised
<br />Premises shall be destroyed or damaged by fire, or other casualty,
<br />less than fifty percent (50%) in value, then Landlord shall promptly
<br />rebuild or restore such premises. In the event the Demised Premises
<br />shall be totally destroyed or damaged to the extent of fifty percent
<br />(50%) or more of the value thereof by fire or other casualty, then
<br />either party may, within thirty (30) days after such damage, elect
<br />to terminate this Lease by giving the other party a notice of
<br />termination and, thereupon, both parties shall stand released of and
<br />free from any further liability under this Lease.
<br /> 9. Quiet Enjoyment. The Landlord covenants, warrants, and
<br />represents that it has full power and right to execute and perform
<br />this Lease and that the Tenant, upon paying the rent herein reserved
<br />and performing the covenants and agreements hereof, shall peaceably
<br />and quietly have, hold, and enjoy the Demised Premises and all
<br />rights and privileges belonging, or in any way appertaining, thereto
<br />during the full term of this Lease and any extension thereof.
<br /> 10. Use of Demised Premises. The Demised Premises shall be
<br />used exclusively as a satellite ambulance facility for the Cabarrus
<br />County Ambulance Service.
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