North Carolina Commercial Lease

NORTH CAROLINA COMMERCIAL LEASE

This lease agreement is entered into on this the day of , 20 , by and between:

, (hereinafter called “LESSOR”), whether one or more,

and

, (hereinafter called “LESSEE”), whether one or more.

For valuable consideration, the receipt and sufficiency of which is hereby acknowledged, LESSOR and LESSEE do hereby covenant, contract and agree as follows:

1. PREMISES AND TERM: LESSOR, hereby leases to LESSEE for the term commencing on the day of , 20 and ending on the day of , 20 , (the “TERM”) the following described premises in its present condition, located in County, North Carolina:

2. RENEWAL: LESSEE and LESSOR may agree to extend or renew the lease, with any agreed modifications, in a separate, signed document.

3. RENT: The LESSEE covenants to pay to LESSOR as Rent the sum of Dollars ($ ) per month, (hereinafter “the Rent”), in advance without demand on or before the first day of each month at the office of the LESSOR. The Rent for the month of , which is the first month of this lease shall be paid in the amount of Dollars ($ ), which amount is the prorated rent based upon the date this lease commences.

4. LATE CHARGES: LESSEE shall pay a late charge in the amount of percent ( %) of the outstanding delinquent balance for any payment of the rent not made within days after the due date to cover the extra expense involved in handling late payments, but not more than dollars for any one month.

5. UTILITIES: LESSEE shall pay all charges for utilities for the PREMISES except for the following, which shall be paid by LESSOR:

6. CONDITION OF PREMISES; USE OF PREMISES: LESSOR agrees that LESSEE, upon paying the rent and on performing all terms of this lease, shall peaceably enjoy the Leased Premises during the term of this lease.

(a) To use these Leased Premises only for .

(b) To surrender the Leased Premises to LESSOR at the end of the Term or any renewal without the necessity of any notice from either LESSOR or LESSEE to terminate the same, and LESSEE hereby expressly waives all right to any notice which may be required under any laws now or hereafter enacted and in force.

(c) To surrender possession of these Leased Premises at the expiration of this lease without further notice to quit, in as good condition as reasonable use will permit.

(d) To keep the Premises in good condition and repair at LESSEE’s own expense, except repairs which are the duty of LESSOR.

(e) To perform, fully obey and comply with all ordinances, rules, regulations and laws of all public authorities, boards and officers relating to the use of the Premises.

(f) Not to make any occupancy of the Leased Premises contrary to law or contrary to any directions, rules, regulations, regulatory bodies, or officials having jurisdiction or which shall be injurious to any person or property.

(g) Not to permit any waste or nuisance.

(h) Not to use the Leased Premises for living quarters or residence.

LESSEE shall pay (a) for any expense, damage or repair occasioned by the stopping of waste pipes or overflow from bathtubs, closets, washbasins, basins or sinks, and (b) for any damage to window panes, window shades, curtain rods, wallpaper, furnishings, or any other damage to the interior of the Leased Premises.

The LESSOR shall be responsible for making only the following repairs [check those that apply]:

sprinkler system

heating, ventilating or air-conditioning system serving the Premises if, and to the extent, installed by LESSOR, and

structural repairs to exterior walls, structural columns and structural floors which collectively enclose the Premises (excluding, however, storefronts), and

the roof over the Premises.

Other:

Other:

Other:

7. FIXTURES AND TRADE FIXTURES. LESSEE shall make no changes, improvements, alterations, or additions to the Leased Premises unless such changes, improvements, alterations, or additions are first approved in writing by LESSOR, are not in violation of restrictions, and will not materially alter the character of such premises.

All property of LESSEE remaining on the Premises after the last day of the Term of this lease shall be conclusively deemed abandoned and may be removed by LESSOR, and LESSEE shall reimburse LESSOR for the cost of such removal.

8. SECURITY DEPOSIT: The LESSEE, contemporaneously with the first Rent installment, agrees to deposit with the LESSOR Dollars ($ ) which sum shall be held by the LESSOR as security for the full faith and performance by LESSEE of all of the terms, covenants and conditions of this lease by LESSEE.

9. LESSOR’S LIEN: As additional security, LESSEE acknowledges, to the extent allowed by applicable law, the LESSOR’S right to hold and sell with due legal notice all property on or to be brought on the Premises in order to satisfy unpaid Rent, expenses, and utilities.

10. DEFAULT: Each of the following shall be deemed an Event of Default:

a. Default in the payment of Rent or other payments hereunder.

b. Default in the performance or observance of any covenant or condition of this lease by the LESSEE to be performed or observed.

c. Abandonment of the premises by LESSEE.

d. The filing or execution or occurrence of bankruptcy or insolvency events.

11. NOTICE OF DEFAULT. In the event of an act of default with respect to any provision of this lease, neither party can institute legal action without first complying with notice conditions.

Such notice shall also contain a reasonably understandable description of the action to be taken or performed by the other party in order to cure the alleged default and the date by which the default must be remedied, which date can be not less than business days from the date of mailing the notice of default.

12. TERMINATION. Upon occurrence of any Event of Default, and after proper notice of default has been given, LESSOR may, at its option, terminate this lease upon the date specified in the notice, which date shall not be earlier than days after mailing or delivery of such notice.

13. ACCELERATION. LESSEE expressly agrees and understands that upon LESSOR’S termination of this Lease, the entire remaining balance of unpaid Rent for the remaining term shall accelerate.

14. REPOSSESSION. Upon termination of this lease, LESSOR may enter forthwith and resume possession of the Leased Premises.

15. DEFAULT BY LESSOR. In the event of any default by LESSOR, LESSEE must first send notice and shall have offered LESSOR ( ) days in which to correct and cure the default or commence a good faith effort to cure such default.

16. RELETTING AFTER TERMINATION. Upon termination, LESSOR shall use reasonable efforts to relet the Premises.

17. DAMAGES. Upon termination of this lease, LESSEE shall pay to LESSOR without demand or notice the following:

(a) All Rent and other payments accrued to the date of such termination and a proportionate part of the rent otherwise payable for the month in which such termination occurs.

(b) All future Rent and other payments due under the terms of this lease to the extent Landlord has not been able to offset same by reletting the Premises within 30 days of termination.

(c) The costs of making all repairs, alterations and improvements required to be made by LESSOR hereunder.

(d) The attorneys’ fees and other costs.

18. EXCLUSIVITY OF LESSOR’S REMEDIES: The receipt of Rent after default shall not deprive LESSOR of other actions.

19. LESSOR NOT LIABLE FOR INJURY OR DAMAGE TO PERSONS OR PROPERTY: LESSOR shall not be liable for injury or damage to any person or property on said Premises or building from any cause whatever.

20. TAXES: Property taxes on the Leased Premises shall be responsibility of LESSOR. Taxes on the personal property of LESSEE shall be the responsibility of LESSEE.

21. RIGHT OF RE-ENTRY. LESSOR shall have the right to enter the Premises at reasonable hours for inspection, repairs, and other reasonable purposes.

22. HOLDOVER. If LESSEE shall hold over after expiration of the Term with consent of LESSOR, such tenancy shall be month to month only.

23. NATURE OF RELATIONSHIP BETWEEN PARTIES. The sole relationship between the parties is that of LESSOR and LESSEE.

24. RIGHT OF LESSOR TO PAY OBLIGATIONS OF LESSEE TO OTHERS. If LESSEE fails to pay sums due or maintain the Premises, LESSOR may pay or perform and be reimbursed.

25. MECHANICS AND OTHER LIENS IMPOSED BY LESSEE. LESSEE shall keep the Premises free of mechanics and materialmen’s liens.

26. CONDEMNATION CLAUSE: In the event that all or a part of the Premises is taken by eminent domain, the lease may terminate.

27. FIRE CLAUSE: LESSEE agrees to notify LESSOR of damages by fire or other hazard immediately.

28. WAIVER OF NONPERFORMANCE: Failure of LESSOR to exercise any rights shall not be considered a waiver.

29. PAROL EVIDENCE CLAUSE: This instrument constitutes the final integrated expression of the agreement.

30. SUBORDINATION: This lease is subordinate to all present or future mortgages affecting the Leased Premises.

31. INSURANCE: LESSEE shall keep public liability insurance with limits of Dollars ($ ) combined single limit, naming LESSOR as additional insured.

32. NOTICES. All notices and communications concerning this lease shall be mailed to the parties at the following addresses:

LESSOR

LESSEE

33. SALE BY LESSOR. In the event of a sale or conveyance by LESSOR, LESSEE agrees to attorn to the purchaser or assignee.

34. COURT ACTION, ATTORNEY’S FEES AND COSTS. The losing party agrees to pay reasonable costs and expenses incurred in prosecuting suits.

35. ASSIGNMENTS AND SUB-LEASE: LESSEE agrees not to assign or sublease without written consent of LESSOR.

36. INTERPRETATION. Masculine gender includes feminine and neuter genders, singular includes plural.

37. MODIFICATION. Any modification or amendment shall be in writing and executed by all parties.

38. SEVERABILITY CLAUSE: If any term is held invalid, the remainder shall remain in force.

39. LAW TO APPLY: This lease shall be construed under the laws of the State of North Carolina.

40. ADDENDUMS. The following addendums are attached to this lease and shall be initialed by the parties. (Check all that apply or check none)

Option to Purchase

Arbitration Agreement

Other:

None

41. OTHER PROVISIONS:

All documents such as schedules, exhibits and like documents are incorporated herein and shall initialed by all parties.

In Witness Whereof, the undersigned LESSOR and LESSEE execute this lease to be effective as of the day and date first above written.