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AG 2007 06 18
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AG 2007 06 18
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Last modified
9/26/2007 2:40:23 PM
Creation date
11/27/2017 11:30:53 AM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
9/26/2007
Board
Board of Commissioners
Meeting Type
Regular
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SUBLEASE AGREEMENT <br />Re: Office Space, 1305 S. Cannon Blvd. <br />Kannapolis, Cabarrus Counry, NC <br />This Sublease Agreement (the "Sublease°) is made as of April 1, 2004, by and between <br />CABARRUS COUNTY, a political subdivision of the state of North Carolina <br />("Sublessor"), with its principle place of business at 65 Church Street, SE, Concord, NC <br />28025, and Daymark Recovery Services, Inc., a North Carolina non-profit corporation <br />("Subtenant"), whose principle address is 1305 S. Cannon Blvd., Kannapolis, NC <br />28083. <br />1. Relationshia of Parties. Sablessor leases from Kannapolis Land, lnc. ("Prime <br />Lessor") certain property located at 1305 5outh Cannon Boulevard, Kannapolis, North <br />Carolina, a portion of which the Subtenant wishes to sublease from Sublessor in <br />accordance with the terms and conditions of this Sublease. <br />2. Descrintion of Leased Premises. Sublessor hereby subleases to Subtenant, "as is", <br />approximately ] 9,270 square feet including existing office space and ailocated shared <br />space (the "Premises"). The Premises are more clearly set forth in Exhibit A, attached <br />hereto and incorporated herein. The Premises are within the building (the `Building") on <br />the real property as more fully illustrated and the legal description of which is included in <br />Exhibit A. (The Premises, the Building and the real property on which they are located <br />may from time to time be collectively or singularly referred to herein as the "Land"). <br />The Premises contain the fixtures, improvements and other real or personal property now <br />installed on the Premises plus any future permitted modifications, alterations and <br />improvements thereto. <br />2. Lease Term. The initial term of this Sublease shall begin on April l, 2004 and shall <br />continue through June 30, 2005 (the "Initial Term"), unless sooner terminated pursuant to <br />the terms hereo£ Provided Subtenant is not in default hereunder, Subtenant shall have <br />the option to extend the Initial Term of this Lease for one consecutive renewal term of <br />one (1) year, beginning July 1, 2005 through June 30, 2006 ("First Renewal Term") and <br />one additional consecutive renewal term of eleven (11) months, beginning July 1, 2006 <br />through May 31, 2007 ("Second Renewal Term") on the same terms and conditions as set <br />forth herein, provided Subtenant notifies Sublessor in writing of its intent to enter into the <br />respective renewal term(s) at ]east one hundred and twenty (120) days prior to the end of <br />the then cunent sublease term. In the event of holding over by Subtenant without <br />Sublessor's written consent, Subtenant shall pay Rent equal to twice the applicable Rent <br />and Additionai Rent plus other sums due from time to time hereunder. Possession by <br />Subtenant after the expitation of this Sublease shall not be construed to extend the last <br />term hereunder. <br />3. Basic Rent. Subtenant agrees to pay to Sublessor basic rent ("RenY') for the use of the <br />Premises during the lnitial Term in the aggregate amount of One Hundred Thirty-Seven <br />Thousand Six Hundred Sixty and No/One Hundredths Cents ($137,660.00). <br />Provided that Subtenant is not in default hereunder, Subtenant shall be permitted to pay <br />the Rent for the initial Term in five (5) equal monthly installments of $9,498.42 each and <br />G-~~ <br />
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