NCC231042_FRO Submitted_20230425

Check if this project is ARPA-funded ❑
FINANCIAL RESPONSIBILITY/OWNERSHIP FORM
SEDIMENTATION POLLUTION CONTROL ACT
No person may initiate any land-disturbing activity on one or more acres as covered by the Act, including any
activity under a common plan of development of this size as covered by the NCG01 permit, before this form
and an acceptable erosion and sedimentation control plan have been completed and approved by the Land
Quality Section, N.C. Department of Environmental Quality. Submit the completed form to the appropriate
Regional Office. (Please type or print and, if the question is not applicable or the e-mail address or phone
number is unavailable, place N/A in the blank.)
Part A.
1. Project Name GCS Professional & Community Education Center
*If this project involves American Rescue Plan Act (ARPA) funds, list the Project Name below
under which you applied for funding through the Division of Water Infrastructure (DWI).
2. Location of land-disturbing activity: County Guilford City or Township Greensboro, NC
Highway/Street 2909 East Gate City Blvd Latitude(decimal degrees)36.05892 Longitude(decimal degrees) 79.74645
3. Approximate date land-disturbing activity will commence: March 15, 2023
4. Purpose of development (residential, commercial, industrial, institutional, etc.): Institutional
5. Total acreage disturbed or uncovered (including off-site borrow and waste areas):8.63 ac
6. Amount of fee enclosed: $ 900.00 . The application fee of$100.00 per acre (rounded
up to the next acre) is assessed without a ceiling amount (Example: 8.10-acre application fee is $900).
Checks should be addressed to NCDEQ.
7. Has an erosion and sediment control plan been filed? Yes ❑ Enclosed ❑x No ❑
8. Person to contact should erosion and sediment control issues arise during land-disturbing activity:
Name Kenneth Buck E-mail Address [e-mail]
Phone: Office# 336-544-2600 Mobile# [phone]
9. Landowner(s)of Record (attach accompanied page to list additional owners):
Gateway Research Park, Inc. (Leasehold) 336-375-9232 336-420-4411
Name Phone: Office# Mobile#
2901 East Gate City Boulevard 2901 East Gate City Boulevard
Current Mailing Address Current Street Address
Greensboro NC 27411 Greensboro NC 27411
City State Zip City State Zip
10. Deed Book No. 6708 Page No. 894 Provide a copy of the most current deed.

Part B.
1. Company(ies)who are financially responsible for the land-disturbing activity(Provide a comprehensive list
of all responsible parties on accompanied page.)If the company is a sole proprietorship or if the landowner(s)is
an individual(s), the name(s)of the owner(s)may be listed as the financially responsible party(ies).
SAMET / MEG [e-mail]
Company Name E-mail Address
309 Gallimore Dairy Rd. 309 Gallimore Dairy Rd.
Current Mailing Address Current Street Address
Greensboro NC 27409 Greensboro NC 27409
City State Zip City State Zip
Phone: Office# 336-544-2600 Mobile# [phone]
Note: If the Financially Responsible Party is not the owner of the land to be disturbed, include with this form
the landowner's signed and dated written consent for the applicant to submit a draft erosion and sedimentation
control plan and to conduct the anticipated land disturbing activity.
2. (a) If the Financially Responsible Party is a domestic company registered on the NC Secretary of State
business registry, give name and street address of the Registered Agent:
Doug Beane [e-mail]
Name of Registered Agent E-mail Address
309 Gallimore Dairy Rd. Ste. 102 309 Gallimore Dairy Rd. Ste. 102
Current Mailing Address Current Street Address
Greensboro NC, 27409 Greensboro NC, 27409
City State Zip City State Zip
Phone: Office# 336-544-2600 Mobile# [phone]
Name of Individual to Contact(if Registered Agent is a company)
(b) If the Financially Responsible Party is not a resident of North Carolina, give name and street address
of the designated North Carolina agent who is registered on the NC Secretary of State business registry:
n/a
Name of Registered Agent E-mail Address
Current Mailing Address Current Street Address
City State Zip City State Zip
Phone: Office# Mobile#
Name of Individual to Contact(if Registered Agent is a company)

(c) If the Financially Responsible Party is engaging in business under an assumed name, give name under
which the company is Doing Business As. If the Financially Responsible Party is an individual, General
Partnership, or other company not registered and doing business under an assumed name, attach a copy
of the Certificate of Assumed Name.
n/a
Company DBA Name
The above information is true and correct to the best of my knowledge and belief and was provided
by me under oath. (This form must be signed by the Financially Responsible Person if an individual(s)
or his attorney-in-fact, or if not an individual, by an officer, director, partner, or registered agent with
the authority to execute instruments for the Financially Responsible Party). I agree to provide
corrected information should there be any change in the information provided herein.
Doug Beane CFO, Samet / MEG
Type or print name Title or Authority
Signature ./ Date
I, _ra i �C�Y1�m , a Notary Public of the County of C to to I'd
State of North Carolina, hereby certify that ) O(k4 �lY - 0 ) appeared personally
before me this day and being duly sworn acknowleged that the above form was executed by him/her.
Witness my hand and notarial seal, this 0 day of r-j jtTtJtO h f , 20
PPP Iq�,' i),„(j)4/
TAoil Notary
My commission expires 3Ic4)9Lc23
AVBL�
G

Continued from Items 9 & 10 in Part A of the Financial Responsibility/Ownership Form for multiple
owners. Attach copies of this page as needed to list all landowners.
Landowner 2 of Record:
Name Phone: Office# Mobile#
Current Mailing Address Current Street Address
City State Zip City State Zip
Deed Book No. Page No. Provide a copy of the most current deed.
Landowner 3 of Record:
Name Phone: Office# Mobile#
Current Mailing Address Current Street Address
City State Zip City State Zip
Deed Book No. Page No. Provide a copy of the most current deed.
Landowner 4 of Record:
Name Phone: Office# Mobile#
Current Mailing Address Current Street Address
City State Zip City State Zip
Deed Book No. Page No. Provide a copy of the most current deed.
Landowner 5 of Record:
Name Phone: Office# Mobile#
Current Mailing Address Current Street Address
City State Zip City State Zip
Deed Book No. Page No. Provide a copy of the most current deed.

Continued from Item 9 in Part B of the Financial Responsibility/Ownership Form for multiple parties.
Attach copies of this page as needed to list all financially responsible parties.
Guilford County Schools [e-mail]
Company 2 Name E-mail Address
617 W. Market St. 617 W. Market St.
Current Mailing Address Current Street Address
Greensboro NC 27401 Greensboro NC 27401
City State Zip City State Zip
Phone: Office# 336-370-3490 Mobile# [phone]
Dream Center GSO-1 , LLC [e-mail]
Company 3 Name E-mail Address
427 Bartram St. SE 427 Bartram St. SE
Current Mailing Address Current Street Address
Atlanta GA 30316 Atlanta GA 30316
City State Zip City State Zip
Mobile# [phone]
Phone: Office# n/a
Company 4 Name E-mail Address
Current Mailing Address Current Street Address
City State Zip City State Zip
Phone: Office# Mobile#
Company 5 Name E-mail Address
Current Mailing Address Current Street Address
City State Zip City State Zip
Phone: Office# Mobile#

I GATEWAY
RESEARCH PARK
February 8, 2023
To Whom It May Concern,
This is to advise that Gateway Research Park, Inc., under a long-term land lease with the State of North
Carolina (see attached), does hereby consent to allow SAMET/MEG to submit a draft erosion and
sedimentation control plan and to conduct the anticipated land disturbing activity associated with the
development of the GCS Professional & Community Education Center(and ImpactData Dream Center)
Project on+/-8.63 acres of land at our South Campus(located at 2901 East Gate City Boulevard,
Greensboro NC 27401).
Jim Westmoreland Date
Interim Executive Director
Gateway Research Park, Inc.
2901 East Gate City Boulevard
Greensboro, NC 27401
[phone]
[e-mail]
Attachment—Gateway Research Park, Inc. land lease with the State of North Carolina

dN RfaQ �I
State of North Carolina
of Justice Reply to:Mark Teague
Department
ROY COOPER Property Control Section
ArroRNv OHNERAL PO BOx 629 Telephone:[phone]
Raleigh, North Carolina FAX:[phone]
27602 $lag lig a,ncdoi,gOy
March 21, 2007
Gateway University Research Park, Inc.
Attn: Executive Director
5900.Summit Avenue
Browns Summit,North Carolina 27214
RE: Lease Agreement - University Research Park,Inc.
Our File No. 041-AAA
Dear Sir:
For your records, please find enclosed the properly executed Lease Agreement and
Metnorandum of Lease with the State of North Carolina.
If you have any questions, please do not hesitate to call.
Very truly yours,
Mark Teague
Assistant Attorney General
GMT/dp
Enclosure
cc: Helen Ward, UNC Greensboro

kJ- -
GROUND LEASE AGREEMENT
BETWEEN '1
THE STATE OF NORTH CAROLINA
(LESSOR)
and
• GATEWAY UNIVERSITY RESEARCH PARK, INC.
(LESSEE) •
for
JOINT MILLENNIAL CAMPUS
GREENSBORO, NORTH CAROLINA
Dated: /40,..eg.4 2007
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1ORTII CAROLINA
' GROUNDLEASE AGREEMENT
• GUILFORD COUNTY - .
r� T Yls GROUND LEASE AGREEMENT (the "Lease") is entered into on the / /�iiay of . .
Agave , 2007 by and between THE STATE OP NORTH CAIRO:INA (the "Lessor") and GATEWAY -
UNIVERSJTY RESEARCh PARK,INC.(the"Lessee").
• _RECITALS
A. -The Lessor is the owner of the Land (hereafter defined) situated in or near the City of
Greensboro, Guilford Connty, North Carolina, together with certain existing Improvements. (hereafter
defined)situated thereon, .
B, The Lessor desires to lease the Land and existing Improvements to the Lessee, and the
Lessee desires to rent•the Land and the existing Improvements.pursuant to the terms c6ntalned within this
. Lease from the Lessor and to secure financing for the construction on the Land of certain additional
. improvements to be hereafter determined,designed and constructed. . .
•
In. consideration of the mutual covenants for this Lease, the Lessor and the Lessee agree.as
- • follows:
ARTICLE I .
• BASIC LEASE INFORMATION :
1.1 Basic Legsc Inforilraatiof. In addition to the terms'that_are defined elsewhere in this -
• Lease,these terms are used in this Lease, • .
1.1.1 Lessor's Address:
State of North Carolina
. . o//North Carolina Agricultural &Technical State University . . •
• Dowdy Administration Building
1601 East Market Street
Greensboro,NC 27411 .
• Attention: Vice Chancellor for Business Affairs
. And- -
c/o The University of North Carolina at Greensboro .
P.O.I3ox 26170' .
•
. Greensboro,'NC 27402 -
Attention:Vice chancellor for Business Affairs
1.1.2. Lessee's Address: -
• Gateway University Research Park,Inc. •
• 5;00 Summit Avenue •
Browns Summit,NC 27214
• Attn:Executive Director .
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• 1,1.3 Lana, The two separate tracts.or parcels of real estate,denominated the"North Campus"
and the "South Campus" and 'collectively eontprising the "Joint Millennial Campus," situated in or near -
the City of Greensboro, Guilford County, North Carolina, and more specifically described in Exhibit A
attached hereto and incorporated herein by reference(the "Lama"). ,
• 1,1.4 Improvements, The improvements now or'hereafter located on the Land,whether placed . •
thereon by Lessor or Lessee(the"Improvements"), . •
1.1.5 Premises, The Land and the Improvements existing thereon at the date of this Lease,
together with all rights, privileges, easements-and appurtenances in any way pertaining to the Land and •
- • the existing Improvements, including, without limitation,•all easements for access and utilities over, upon
. . or'serving the Land, shall be known as the "Premises." As a part of the Lessor's coimnitment toward
good stewardship of property owned by the Lessor, the Lessor requests -that the Lessee support the •
sustainability efforts of the Lessor by applying best management practices in the use and development of
the Premises,
1.1,6 Universities. North Carolina -Agricultural & Technical State University and The •
-
University of North Carolina .at Greensboro shall be the "Universities" referred to in this Lease-.
Whenever in this Lease provision is made for notice to,action by or the approval of the Universities,such
provision.shall be deemed to mean and refer to the Vice Chancellors for Business Affairs of both North
Carolina Agricultural &•Technieal State University.and The Utiivelsity of North Carolina at Greensboro, .
unless otherwise expressly noted.
1,2 Exhibits. The following exhibits are attached to this Lease and are made part of this,
Tease, •
• Exhibit A Legal Description of Land.
ARTICLE II -
LAND,TERM AND USE . •
2.1 Premises. Upon the•teims,provisions and conditions'hereof, and each in consideration of
. •:the duties, covenants'and obligations of the other hereunder, the Lessor hereby leases to the Lessee the
Premises. TO RAVE ANI) TO Il<C)LI) said Premises,.together with all privileges and appurtenances •
thereunto belonging, to the Lessee, its successors and assigns, for the term and 'upon,the conditions -
hereinafter set forth. . '
•
2.2 Term. Subiect.ta the terms,provisions and conditions hereof,this Lease shall.aontlnue in :
- force fot'a term (the"Term").of fifty(5O) years, connuencing December 1, 2006 (the"Commencement •
• bate") or upon Lessee's later possession of the Premises and. terminating fifty (50)• years from the
•
Commencement Date("Initial Termination bate"). Lessee, in its sole discretion, may extend the Term.
of this Lease for two (2) successive periods of ten(10)years each-(if such Term is extended as provided
in this Section or if the Lessee elects not to exercise its Renewal Option (as_defined below), the date of .
the termination of this Lease shall be-known as the"Termination bate"),upon all of the terms set forth in . .
this Lease(the"Renewal Option"). The'Lessee may exercise such Renewal Option so long as the-Lessee
is not in-default(beyond-applicable cure periods)under this Lease at the time of any such election of the -
• Renewal Option, and by giving the Lessor notice of each such election not later than the 180th-day prior
to the expiration of the then current Term of this Lease,
. - 2.2.t Ownership of Improvements:_Surrender of Land. During the Term, ownership of the .
Improvements on the Premises shall be in the Lessee or it sublessees, as appropriate. Upon the•expiration .
. of the-Lease, ownership of the Improvements on the Premises shall be in the Lessor, 'Throughout the .
Term, any liens, encumbrances, mortgages, or claims cif third parties, including construction lenders and
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permanent lenders, with respect to any interest in Land or Improvements that may be deemed owned by '
the Lessee or its sublessees shall be expressly subordinate and.•subject to the rights of the Lessor under
this Lease,unless otherwise consented to by the Lessor under this Lease,such consent'to be evidenced by • .
the written approval of the Director of the State Property °ffioe, During the Term, the Lessee shall be
. entitled to deduct all depreciation for the:Improvements,and any additions,changes or alterations thereto.
. 2,2.2 Expiration of'Lease, At the conclusion of the Initial Term of this Lease or any renewal or
extension thereat the Lessee and its sublessees will promptly quit and surrender theentire Premises,
which shall include the Land,!as well as convey to the Lessor in fee simple absolute by special warranty .
deed, free and clear of all mortgages and liens, all the Improvements constructed or renovated by or on
behalf of the Lessee or its sublessees on the Land, in good order, condition,and repair, ordinary wear and .
tear excepted,and in broom clean condition.
2.3 • Use • T.he,Le sor's fundathental objectives In leasing the Premises, are to (1.) enhance .
•
the teaching and research opportunities for the faculty and students ofthe Universities by providing them
• with a close association with educational, research or technologically-oriented entitles and (2) foster •
economic growth and development opportunities for the region, Accordingly,the use of the Premises by
the Lessee'or Its sublessees shall be restricted to either (a) research,.education,'development testing,
fabrication and' assembly in the fields of information' technology, .computer software/hardware
development, advanced materials, engineering, biotechnology,"environmental'sciences, agriculture and••
life sciences and business management, (b), related light manufacturing, fabrication and assembly in
conjunction with.an ongoing research program with the Lessor or.any of its constituent departments or
state,supperted educational institutions, (c) technology-related services (including 'but not limited to
engineering, computer saftvvare, and consulting services), (d) academic facilities, (e) commercial and •
retail support services and (fj such other improvements that will enhance'the teaching,.research and
service missions of the Lessor and the ability of the Lessee to.attract sublessees that will foster economic •
development. The use of the Premises by.the Lessee or its sublessees shall further conform to the Joint
. Millennial Campus Physical Master Plan. and Development and Design Guidelines (the "MC Master
'Plan")to be developed by the Lessee, approved by the Boards of Trustees*of the Universities and made
• applicable to the Premises at or prior to the first sublease of any portion of the Premises by Lessee,which
a1MC Master Plan may thereafter be.amended and/or restated Upon proposal by the.Lessee and.approval
• by the Boards of Trustees of the Universities. .
' 2.4 Assignment and Subleasing. ••
•
(a) Except as otherwise provided in this Lease with respect to a Permitted Mortgage, the
Lessee shall not assign this Lease without the prior written consent of the Lessor,which consent shall not
be.unreasonably withheltl or delayed. If the Lessee desires to assign this Lease, the Lessee shall first
advise the Lessor'in writing of the name of the proposed assignee, the proposed use of the Premises and .
such financial Information as the Lessor may reasonably require applicable to the proposed assignee. The .
Lessee shall also aceonlpany such'request for consent with.a copy of the'proposed assignment'and any
other agreements to be entered into concurrently with such assignment. 'It'shall not be unreasonable for
the Lessor to withhold Its consent to a proposed assignment ifc''the reputation, financial responsibility or ' -
business of the proposed assignee is reasonably unacceptable to the Lessor or if the intended use.of the
. Premises by the proposed assignee is not identical.to the use of the Premises authorized by the provisions
- of this Lease. Neither an assignment of this Lease, nor.the Lessor's consent.thereto, shall release or` .
discharge the Lessee from any liability, past or future, under this Lease, For the purposes of this
subparagraph (a),'an assignment shall include any transfer of this Lease,whether voluntary or involuntary
• or by operation of law, but shall not include an assignment made in conjunction with a Permitted . .
Mortgage.e. . •.
•
(b) Neither the Lessee nor any sublessee:may sublet for a term of more than ton (10) years . •
- space within any Improvements now or hereafter located on the Land comprising the Premises, without .
439818v13 '
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the prior written consent of the Lessor after approval by the Governor and•Council of State. Neither the
Lessee nor any sublessee.may sublet pursuant to a sub ground lease any portion of the Land that is a part
of the Premises for'any term whatsoever without the prior written consent of the Lessor after approval by
.the Governor and Council of State. With the foregoing exceptions, either the Lessee or any sublessee
may sublet the Premises or portions thereof without any requirement to obtain the. Lessor's consent
'subject to the following conditions: � .
•
(i) The use of the Prcmisos.by the sublessee shall comply with the use restrictions
•
contained in.Seetion 2.3 of this Lease;
' • (ii) The Lessee shall not then be in default under this Lease; -
(iii) Any sublease shall provide that it is subject to the terms and conditions of this
•Lease and may, at the Lessor's option,require the sublessee to attorn to the
Lessor;
• (iv) Neither any sublease nor the-Lessor's implied or actual consent thereto shall .
- - release or discharge the Lessee from any liability,past or future,under this
Lease; .
(v) The Lessee shall remain•fully liable under this Lease upon notice in accordance
with this Lease from Lessor of any default under this Lease;
' (vi) No subletting shall be for a term ending later than one(1) day prior to.the
expiration of the Tenn of this Lease; -
• (vii) The Lessee shall deliver to the Lessor a duplicate original or a conformed copy of
• the sublease, along with evidence of the requirements of this Subparagraph(b)
having been satisfied; and
(viii) Such other criteria as may be implied by law;
(c) Lessee shall not assign•any of its rights under this Lease separate from any'assignment.
permitted under subparagraph (a).above, Any subletting permitted under subparagraph (b) above or. a
Permitted Mortgage, - . .
(d) The. Lessee shall.-eomply with N,C. Gen. Stat. §146-29.1 in all subleases to private .
entities established to operate for profit (i.e.; all subleases to private entities established to operate for
• profit must be at or above the fair market rental rate for the premises so subleased);
2,5 Premises Rent, The Premises Rent shall be Quo and No/100 United States Dollars($1.00
USD)for the Term,including any extension of the Term pursuant to a Renewal Option.
ARTICLE III - '
• CoNsTttucTlory Ozr IMPROVEMMTS
• 3.1 Plans and Speroatians 1oyiew and Approval. The Lessee agrees to submit, and cause
its sublessees to submit, complete architectural and engineering'plans and specifications for, the
renovation or construction of any Improvements on the Premises for the prior review, btit not approval, by
(i)the State Construction Office and the North.Carolina Department of Insurance if the construction costs. . .
for the contemplated Improvements exceed the dollar limitation set forth in N.C. Gen. Stat, §116.31.11 or
(ii) the Universities in .accordance with the authority-delegated to the Universities by the I3oard o'f
Governors of The University of North Carolina under The University of North Carolina Design•and -
439818v13

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Construction Guidelines (the P°UNC System Guidelines') if the construction Costs for the contemplated
Improvements do not exceed the dollar limitation set forth in N,C. Gen. Stat, §116-31.11. In addition,the
Lessee shall cause its sublessees to submit to the Lessee;for the Lessee's prior written approval, not to be
unreasonably withhold or delayed,complete architectural and engineering plans and specifications for any
Improvements to be made to the Premises by such sublessees, which plans and specifications shall be
prepared by architects and engineers.previously approved in writing by the Lessee.
3.2 Stiderd of Construction of Improvements. The Lessee, at the expense of the Lessee,
shall cause the renovation or construction of Improvements to the Premises commissioned by the Lessee,
and:shall require its sublessees, at the expense of its s'ublessees,•to cause the renovation or construction of
Improvements to the Premises commissioned by a sublessee, to be completed in conformity with.(i) the
North Carolina State Building Code or the local building code, as applicable, arid (ii) plans and
specifications reviewed and/or approved for renovation or construction in accordance with Section 3,1 of
this Agreement and (ili) in a good and workmanlike manner and in compliance with applicable laws and
•
regulations, including, but not limited to, environmental laws and regulations and the AtnPrioans with .
Disabilities Act, 42 U,S.C. Sec. 1210, et seq,, and the ADA Disability Guidelines promulgated'with
respect thereto, The plans and specifications reviewed and/or approved for.renovation or construction Of
linprovetnents in accordance with Section 3.1 of this Agreement, as well as the renovation or construction •
of Improvements pursuant to this Section,.shall also be subject to, and in compliance with, the JMC
• Master Plan to,be adopted•as more fully provided in Section 2.3 of this Lease and the Joint Millennial
Campus •Construction Pules and Regulations for Third Party Construction Projects ("JMC Construction •
Rules"), to be.adopted by the Board 'of the Lessee at or prior to the first sublease of any portion of the
Premises by the Lessee, Until such time as the JMC Master Plan and'the JMC Construction Rules have
boon adopted, asi more fully provided in Section 2,3 of this Lease and this Section 3.2, the Design and
Construction Guidelines adopted by North Carolina Agricultund4 Technical State'University pursuant to
the authority delegated to the Universities under the UNC System Guidelines shall govern the review
and/or approval for renovation or construction of Improvements in accordance with-Section 3.1 of this
Lease, as well as the renovation or construction of.improvements pursuant to this Section, The Lessee;
for all Improvements to be constructed by it, or any sublessee for Improvements to.be constructed by it,
•shall, at the expense of the Lessee or its.sublessee, as appropriate, obtain all necessary and appropriate
governmental licenses, permits and approvals, including, without limitation, all necessary and appropriate
grading and building permits, environmental licenses,.,permits and approvals and other construction
permits and approvals required by federal, state or local law. All regulatory fees.(including acreage fees,
• development fees, tap fees, and. the like) solely applicable to the Premises' levied by governmental
authorities shall be paid by the Lessee or its sublessees,.as appropriate.
The Lessee or its sublessees shall be responsible for the installation of all roads and utilities
required to serve the.Promises. During the Term, the Lessor shall grant to the Lessee, from any-adjacent
land under the ownership Or control of.the Lessor, and as may be.reasonably required to serve the
Premises and following all necessary prior governmental approvals, all easements and rights of Way as
regrind for the construction of roads and utilities, provided the Lessor shall approve the location of said
'easements and rights of way. Based on the alignment provided by the Lessor,the Lessee or its-sublessees •
shall construct roads and/or utilities serving the Premises: Notwithstanding the forgoing, the Lessor-may, -
in its sole discretion and at its.own-expense,remove or relocate any easement and right of way described
herein, and the road or utilities Iocated therein, provided that such removal or relocation is reasonable, is
made upon reasonable notice to, and in with, the Lessee and does-not impair the use and
operation of.the Premises. •
The Lessee and its sublessees,.as applicable, may individually negotiate contracts for the design,
renovation and/or construction •of Improvements to_ the Premises and need not conform to public bid
requirements in contracting-for the design, renovation and/or construction of Improvements to the
Premises. However,' contractors employed in the design, renovation and/or construction of the •
Improvements to the .Premises 'shall be required to follow the program adopted by the General
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Administration of the University of North Carolina under the UNC System Guidelines and NC Gen. Stat.
Sec. 143-1.28 for the participation of minority businesses in the design, renovation and/or construction. of
the Improvements.
3.3 Commencement/Completion of Improvements. Renovation or construction of any
Improvement commenced on the Premises shall be •substantially completed within thirty (30) months
from the commencement of such,renovation or construction. Construction of Improvements shall be
deemed substantially complete upon (i) the issuance of a Certificate of Occupancy for the Improvements
by the local building inspections department•having jurisdiction over such construction and (ii) the
issuance of a Certificate of Substantial Completion by the architect for .the Improvements. Upon- '
completion of construction of such Improvements, Lessee shall, or shall cause its sublessee to, del€ver.to
(a) the Lessee (only for Improvements constructed by a sublessee), (b)the Universities and.(c)the State
Construction Office the following construction documents; (x)a copy of the Certificate of Oceupanoy for
the Improvements issued.by the local building inspections department, (y) a copy of the Certificate'of •
. Substantial Completion issued.by.the architect for the Improvements and (z) a complete set of as-built
plans for the completed Improvements, .
The Lessee or its sublessees, as appropriate, shall indemnify and hold harmless the Lessor and its
agents and employees, and the Premises, from and against all claims and liabilities arising by virtue of or
relating to renovation or construction of the Improvements by or on-behalf of the Lessee or its sublessee,
as appropriate, or repairs, alterations or similar activity made at anytime to the Improvements (including
' repairs, restoration and rebuilding) by or on behalf of the Lessee or its sublessees, as appropriate,
including; without limitation, the Lessee's (or its sublessees') failure to obtain or comply with any.
necessary required licenses,permits,approvals,laws or regulations. .. ..
3.4' Inspection,of Construction. The 'State Construction Office and/or the North Carolina . '
Department of Insurance, as to the construction of Improvements having a construction eost in excess of
the dollar limitation set forth in N.C. Gen. Stat, §116-31,11, or the Universities, as to the construction'of
Improvements having a construction cost less than the dollar limitation'set forth.in N,C, Gen. Stat. §116-
31.11, shall.have'the right to enter upon,the Premises during the period of any renovation or construction
for the purpose of inspecting the ongoing,renovation or construction of any Improvements,provided such .:
entry shall not interfere with or disrupt construction activities with .respect to :the Improvements,' In .
addition, as to renovation or construotlon of Improvements on the'Promises by sublessees, the Lessee
shall 'have the right to enter upon the portion of the Premises sublet.to such sublessee during the •
construction of_such Improvements for the purpose of'inspecting the ongoing, construction of the
.. • Improvements, provided such entry shall not interfere with or disrupt the. sublessee's construction
activities with respect.to its Improvements.
. 3.5 .Performance.and.i?aytnent Bonds. No construction of Improvements shall commence
unless the Lessee or its sublessee,,as appropriate, shall have delivered to the Universities security'for the
completion of the Improvements, and all changes or alterations-thereto, and for the payment In full off' .
claims.of all persons for work performed in or materials furnished for construction.by providing payment
and performance surety bond(s) as required under N.C. Gen, Stat..§44A-26,which.bonds shall be (i) both . .
in the amount of 100% of the construction contract amount, (ii) 'in form acceptable to the Universities,
(Ili) issued by a-corporate surety licensed to do business in the State of North Carolina and possessing a
Bost Rating of A-1-or higher, and (iv)'with the'perforinanee bond naming as obligees.(x)the Lessor as the
. owner of the Premises,.(y) the Lessee or its sublessee, as appropriate, as the party contracting'for the
• construction•of the improvements, and (z) any construction lender to the Lessee or its sublessee, as
appropriate, for the construction of the Improvements. 'The foregoing requirements to be deposited with
the Universities and to remain in effect until the Improvements shall have boon constirueted and insured as
provided in this-Lease,and the entire cost of the Improvements, or any alterations thereto, shall have been
paid in full, free from all liens and.claims of contractors, subcontractors, mechanics, laborers and -
materialmen,
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I
•
.3,6 nerforpanes Guaranty'and Financing Approval. No renovation or construction of
Improvements shall commence until the Lessee or its sublessee has provided evidence, •reasonably
• satisfactory.to the Universities, that there has been (1) binding commitment or allocation of sufficient
funds, whether by legislative allocation or grant, industrial revenue bonds, institutional financing or .
_otherwise, by the Lessee to complete the renovation or construction of the Improvements, and (2) the
' Lessee or its sublessee has made a legally binding commitment to complete the renovation or construction
of the Improvements using the funds so allocated, .
• 1,7 Allocation of Responsibility. During the•.Term, the Lessee'shall be responsible for the
Premises and the Lessor shall have no liabilities, obligations or responsibilities whatsoever with respect
thereto.ttnless expressly stated,
. . Nothing contained in'this*Lease shall constitute any consent or request by the Lessor, express or -
implied, for the performance of any labor or services or the furnishing of any,materials or other property
in respect to the Premises or any part thereof, nor as giving the Lessee any right, power, or authority to
contract for or permit the performance of any labor or services or the claim against the Lessor in respect
. • . thereof. . ' -
• . ARTICLE IV
•
LESSOR'S COVI NANTS •- •.
- - 4.1. Lessor's Obligations. Subjeet.to the Lessee's performance of its .obligations hereunder,
the Lessor makes the following assurances to the Lessee: .
4.1,1 Assistance of Lessor, The:Lessor shall cooperate with the Lessee in executing such.
documents and instruments, as shall be required by governmental•agencies to renovate or construct any .
• Improvements, and to obtain the licenses and permits required by applicable law in accordance with the
permitted use of the Premises under Section 2,3. . . '
4.1.2 Quiet Enjoyment. The Lessor covenants.and agrees with the Lessee that so long as the
. Lessee pays the Premises Rent and.observes and performs all the terms, covenants, and conditions of this
Lease on the Lessee's.part to be observed and performed,the Lessee may peaceably and quietly enjoy the
• Premises subject,nevertheless, to the terms and conditions.of this Lease,and the Lessee's possession will
•
not be disturbed by anyone claiming by,through, or under the Lessor.
. ARTICLE V .
' L1tss t E'S COVENANTS • . . . •
•
5.1 Payments by Lessee. The Lessee agrees to timely pay all Premises Rent and other sums
due to the Lessor at the.times and in the manner herein provided. '. • • .
•
. 5.2 . permitting of Improvements, The Lessee shall obtain all licenses and permits, and
- comply with all statutes, laws and regulations, for the construction of the Improvements in accordance
with the permitted use of the Premises under Section 2.3, - .
5.3 repairs, Maintenance and -Care, of the Land. By. possession ,or occupancy of the
Premises, the Lessee acknowledges that it has inspected the Premises and finds the Premises to be
satisfactory and in conformity to the obligations of the Lessor upon delivery of the Premises to the
Lessee. The Lessee shall maintain the Premises in a clean, attractive condition, and not commit or allow
. any waste or damage to be committed on or to any portion of the Land, ordinary wear and tear accepted.
-All maintenance and repair of the Land and the Improvements shall be the responsibility of the Lessee or
its 'sublessees and the Lessee or its sublessees shall, at other than Lessor's.expense, keep and maintain in
good repair the whole of the Premises, including, the interior and exterior of any Improvements, as well
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as their respective heating,•air conditioning, plumbing, electrical, lighting, gas, and other mechanical
systems, including safety and alarm systems such as fire alarms, sprinkling systems, and locks and other
security devices. .Lessor shall have no obligation ar responsibility for.sueh maintenance, The Lessee or
its sublessees will promptly repair any damage to the Premises, with the exception of any damage caused
by the Lessor or its agents and contractors.
5.3.1 Alterations, Additions, Improvetments. Any change, improvement or addition to the
•
Premises,together with the Improvements constructed thereon,shall be completed in conformity to(i.)the •
North Carolina• State Building Code or the local building code, as applicable, and (ii). plans and
•specifications approved for renovation or construction in accordance with Section 3.1 of this Agreement, .
and (iii) in a good and workmanlike Manner in compliance with applicable laws and regulations,
'including, but not limited to, environmental laws and regulations and the'Americans with Disabilities Act,
42 U.S,C. Sec. 1210,.et seq., and the ADA Disability. Guidelines promulgated with respect thereto.
During the Term .hereof, the Lessee may remove supplies and moveable furniture and equipment (not
belonging to or installed by the Lessor), provided. (a) such removal is made prior to the termination or
expiration of the Term; (b)the Lessee is not then in default in the timely performance of any obligation or •
covenant under this Lease; (c)the Lessee properly repairs all damage caused by such removal and (d)the .
Lessee agrees that no trade fixtures,or equipment shall be removed from the Premises which render the
Improvements unsuitable for their continued,use as described in Section.2.3 herein, All other property at
the .Promises and any alteration, change, improvement'or addition to the Premises, and any other article
attached or of Caked to'the Premises, shall become the property of the Lessor and shall be surrendered with
the Premises as part thereof at the termination of this Lease,without payment or compensation therefor,
The Lessor shall have no obligation or responsibility for such maintenance, The Lessee or its
sublessees will promptly repair any damage to the Premises with the exception of any damage caused by
the Lessor or its agents and contractors. . •
•
5.3,2 C inpliance with Laws, The Lessee and/or its -sublessees, at other than the Lessor's •
• expense, shall comply with all Federal,.State, municipal 'and other laws, regulations, and .ordinances, -
•including environmental remodiation standards,applicable to the construction, use and, occupancy of any
Improvements, 'and with respect to the Land, including-license and permit requirements, and will not
commit or permit waste in respect to the Land. The Lessee agrees to comply, and to cause its sublessees
to comply,with all applicable environmental.laws in its construction, management and ownership of the
entire Land,
-5.4 • The Lessee shall provide and maintain its own electrical, gas;telephone, water
and sewer, garbage and refuse removal and other utility services with respect to the Premises and shall
bear all expenses relating thereto, including,any connection charges,
5,5 Signs, The Lessee may erect, install and display directional and informational signs upon
the Premises in. conformity to applicable laws, In addition, the Lessee may permit its sublessees or
tenants of the Improvements constructed on. the Premises to install tenant signage in or on any sublet
portion.of the Premises in conformity to the Lessee's standards for such tenant signage, if•any; and all
. applicable laws. The Lessee also agrees to mzaintain any signs installed by the Lessee on the Premises, to
remove any such sign at the expiration or termination of this Lease and to repair•at the Lessee's expense. .
all damage to the Premises or the Improvements constructed.thereon caused by such removal. •
5,6 Lessor's Right. Subject to the provisions of this Lease, the Lessor and its authorized
. representatives shall have the right to enter the Premises at•reasonable hours after notification to the
Lessee and/or its sublessees, as applicable,for the purposes of inspecting the Premises and for excavation
and Installation of utilities and other improvements associated -with the 'development of adjacent
properties owned by the Lessor,
•
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5.7' Taxes and Assessments. In no event shall Lessor be liable for any ad valorem or similar
taxes or assessments levied upon or applicable to the Land; any Improvements, and any. equipment,
fixtures,furniture or other property situated on the Premises by the Lessee or its sublessees. •
5,8 Mechanics' Liens, The Lessee and its sublessees shall not place or permit to be placed
any lien, affidavit, charge or other-eneurnbrance or order upon the Premises or any part.thereof or any
interest therein. , In the event that any such lien, affidavit, charge, encumbrance or order upon the
Premises or any part thereof or any interest therein attaches, regardless of the validity or enforceability
thereof; the Lessee or its sublessees, as applicable, shall, within twenty (20) days of receipt of notice of
such lien,cause the same to be discharged of record by payment, bonding or otherwise.
• • ARTICLE VI.
INDEMNITY AND INSURANCE •
•
6.1 Lessee/Lessor Liabilities, The Lessee agrees to indemnify and hold.the Lessor harmless
from all liability and.claims for any injury to or death of a person or damage toot loss of property caused •
by or arising out of any acts, omissions or neglect of the Lessee, its. agents, contractors, sublessees,
•employees, customers, licensees, concessionaires or invitees or any other person-entering the Premises
under express.or implied invitation of the Lessee or other sublessees of the Promises, except to the extent
such claims, costs, damages.or liabilities arise from the gross negligence or willful misconduct of the
Lessor, including, without limitation, all claims, costs, damages, liabilities, attorneys' fees and all other
out-ofpocket expenses incurred.in connection therewith. .
•
6.2 Subrogation. The Lessor, to the extent allowed by the laws and Constitution of the State
of North Carolina,and'the Lessee waive any and all rights of recovery, claims, actions, or causes of action
against the other, its agents, officers, and employees for any injury, death, loss, or damage that may occur
to persons or the Premises, or any personal property of such party, by reason of fire, the elements, or any-
other cause which is Insured against under the terms of the policies of insurance maintained by the Lessor-
. or the•Lessee or'that the Lessee is required to provide, regardless of cause or origin, including negligence
by the.party, its agents, officers, or employees. Each party covenants that no insurer holds any right of
. subrogation against the other, except in the case (and only in the case) where a waiver of subrogation
• invalidates coverage under stidh policy issued by a third party carrier and, to the extent a waiver may be
Obtained on reasonable terms and at a reasonable cost, each party shall require from.its.insurer a written
waiver or'rider under such policy.
6.3 Insurance,Proceeds. Any. Permitted'Mortgage shall provide that, in the event that (i)
proceeds from any property/casualty 'insurance policy(Ies) (".Property Insurance Proceeds"), together
with any additional funds which the Lessee and/or the Lessor are willing to contribute, are sufficient to
repair and/or replace damage following a .fire or 'other casualty,. and (ii) proceeds from any rental
interruption insurance (or similar insurance), together with any net available revenues from-the Premises
or'other lbnds which are or will be available and/or which the Lessee and/or the Lessor are willing to'
contribute, are sufficient'to satisfy all Permitted Mortgage Requirements during the period of repair •
and/or replacement, the Property Insurance Proceeds shall be made available by the Permitted Mortgagee
for such repair and/or replacement, The determination.of whether any such proceeds and/or other funds .
are sufficient for purpose of the immediately preceding sentence shall be made by an independent third
party certified public accountant at the Lessee's expense. "Permitted Mortgage Reg:Wren:cots" means
with respect to any period, the aggregate of: (0 principal, redemption premium and interest to become
currently payable during such period; (1i) administrative expenses and fiduciary fees to become payable
during such period; (iii)required deposits to reserve accounts required to be made during such.period; and
(iv)penalties'or make-whole amounts required to be funded during such period, in each case as provided
by each such Permitted Mortgagee,
•
• 4398181,13 -

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6,4 Lessee's Insurance. At all times during the Term, the Lessee shall carry and maintain at
its sole cost and expense,the following insurance in the amounts specified below or such other amounts
as the Universities and the Lessee may from time to time agree upon, with insurance companies and on
forms reasonably satisfactory to the Universities and the Lessee.
6.4.1 Fire and•l x.tcndcd Coverage Insurance. Fire and extended coverage insurance covering all
• Improvements in the:Premises and all of the Lessee's merchandise, equipment, trade fixtures, appliances,
furniture, furnishing, and personal property from time to time on or upon the Premises, in an amount not .
loss than the full replacement cost without deduction for depreciation from'time to time during the Term,
providing protection against all perils included within the classification of fire, extended coverage;
vandalism, malicious mischief, special extended peril (at rislc), boiler., flood, vandalism, glass breakage,
and sprinkler leakage, - -
6.4.2 Builder's Risk Insurance. Builders all-risk insurance in an amount reasonably satisfactory
to the Universities during the construction of any Improvements and during any subsequent restorations,
alterations, or changes in Improvements that may be made by the Lessee at a_cast in excess of Five
.Hundred Thousand and No/I00 United States Dollars ($500,000.00 USD)per Job. . .
6.4.3. Commercial General Liability Insurance. Commercial general liability insurance against
all claims for bodily injury, death or property damage, occurring upon, in or about•the Premises or the
Improvements with an aggregate single unlit of coverage of not less than $2,000,000,00, The
Universities and the Lessee shall review the foregoing coverage limits every five (5) years during the
Term of this Lease and any renewal thereof, and the Lessee shall, at Lessee's sole expense, increase the
coverage limits whenever reasonably required by the Lessor after such review. + '
•
6.5 Forms of Policies, Originals or copies of;original•policies, as well as evidence of
payment of all premiums of such policies, shall be delivered prier to the Commencement Date and from
time to time. at least thirty-(30) days prior to the expiration of the term of each such policy. All such
policies maintained by the Lessee shall be purchased only from Insurers who are licensed to do business -
. in the State of North Carolina,comply with the requirements thereof and who carry A.M. Best Company
rating of"A" or "Al" and will provide that they may not be terminated or amended except after (30)
clays' prior written notice to the Lessor, No insurance required'by this Article VI shall be subject to more
than a$50,000 deductible limit without the Lessor's prior written consent.
6,6 Adequacy.of Coverage, The Lessor, its agents and employees Make no representation
. that the limits of liability specified to be carried by the Lessee.pursuant to this Article-VI are adequate.to
protect the Lessee. If the Lessee believes that any of such insurance coverage is inadequate, the Lessee
will..obtain, at the Lessee's sole expense, such additional insurance coverage, as the Lessee deems
adequate. .
•
'ARTICLE VII - •
-
HOLDING OVER ANt)TDUMAT
•
7.1 -Holding Over, This Lease shall terminate at the end of the Term hereof.without'the
necessity of any notice from either the Lessor or the Lessee to.terminate same and the Lessor's right to
the Premises 'shall be as stated in Section'2,2,1 and elsewhere herein, and the Lessee hereby waives
notice to vacate the Premises and agrees'.that the Lessor shall be entitled to the summary recovery of
possession of the Premises should the Lessee hold over to the same extent as if statutory notice had been .
given. If the Lessee should remain In possession of the Premises after the termination or expiration of the
Term without the execution by the Lessor and.the Lessee of a new lease,then the Lessee shall be deemed
to be occupying the Premises as a tenantw at-sufferance,.subject to all the covenants and obligations of this
• Lease, but such holding over shall not extend the Term of the Lease. •
•
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•
7.2 Lessee Default, Each of the following occurrences relative to the Lessee shall constitute
an ".'vent of.Default':
•
7.2.1 Failure or refusal by the Lessee to make the timely payment of Premises Rent or other sums
payable under this Lease when and as the same shall become due and.payable; or
7.2,2 Failure by the Lessee in the performance or compliance with any of the agreements,terms,
covenants or conditions under this Lease applicable to the Lessee under this Lease,for a period.of sixty(60)
clays (or suoh additional time as is reasonably required to correct any such-default) after notice from the
Lessor to the Lessee specifying the items in'default.
Upon an Event of Default under Sections 7.2.1 or 7,2.2 the Lessor shall give written notice to the
Permitted Mortgagee of the occurrence of the Event of Default.
7.3 This Lease and Term and estate hereby made are subject to the limitation that if and
whenever any Event of Default shall occur, the Lessor may, at the Lessor's option and without order of
any court er farther written notice to the Lessee, in addition to all other remedies given hereunder or by
the law or equity and without.limiting in any manner whatsoever any other options available;do any one
or more of the following; .
•
7.3.1 Terminate this Lease, in which event the Lessor may offer for sale its interest in the
•Premises to the Lessee at its fair Market value to be determined by an independent foe appraisal performed
:by an appraiser approved by the State Property Off ce;• provided such offer shall be subject to the
appropriate governmental approvals, • -
• 7.3.2 Pursue any other remedy available at law or in equity. -
•
7.4. Z..ossor Default The Lessor shall in no event be in default in the performance of any of
- the Lessor's obligations hereunder unless and until the Lessor shall have failed to perform such •
obligations within sixty (60) days (or such additional time as is reasonably required to correct any such
default) after written notice by the Lessee to the Lessor properly specifying wherein the Lessor has failed
• . to perform any such. obligation: The Lessor shall have no liability for apy incidental or consequential
damages of the Lessee, or anyone claiming by, through or Under the Lessee, for any reason whatsoever.
if the Lessor fails to perform•any of its obligations or covenants under this Lease, the Lessee shall be
entitled to enforce anyone or more of the following rights and remedies; (a)institute an action against the
Lessor as the Lessee may deem necessary to compel performance hereunder or cease activities
constituting the defaults -by Lessor hereunder so long as such action does not abrogate the Lessee's
obligations hereunder; and (b) exercise all other rights•and remedies available to the Lessee under this
• Lease or otherwise available to the Lessee at law or in equity as a consequence of the Lessor's default,
7.5 Lessor's Ogfien to Cure Lessee Default, If the Lessee should fail to make any payment,
perform any obligation, or cure any default hereunder;the Lessor,without obligation to do so and without
thereby waiving such failure or default, may make any such payment, perform such obligation, and/or
remedy such other default for the account of the Lessee (and enter the Land for such purpose), and the
Lessee shall pay upon demand'all reasonable costs, expenses and disbursements (including reasonable
attorney's fees)incurred by the Lessor in taking such remedial action.
• 7.6 Lessor's Option to Assign Lease in Event of Insecurity Concernirlgj essee, In the event .
that Lessor, in Lessor's sole discretion, shall(i) conclude that there has occurred a significant irregularity
in Lessee's management, operations or finances that materially impairs Lessee's ability to fulfill its
obligations under this Lease or (ii) deem itself reasonably insecure with respect to Lessee's performance
under this Lease, Lessor may, upon written notice to Lessee• and any. Permitted Mortgagee (a
"Declaration of Insecurity"), 'assign all the rights and obligations of Lessee under this Lease to the
a398I8v13

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9 -
. Board of Governors of the University of North Carolina or such other agency of, or entity established by, .
the State of North Carolina as the Governor and the Council of State of the State of North Carolina shall
deem appropriate; provided, however, that upon such Declaration of Insecurity and assignment by the
Lessor of the rights and obligations of the Lessee under this Lease,this Lease shall not terminate but shall
remain-in full force and effect subject to the rights of any Permitted Mortgagee, and the lien of any .
Permitted Mortgage on the leasehold interest of the Lessee in this Lease,.all as more hilly provided under .
Article vIII of this Lease,• .
- ARTICLE Yin
PERMITTED MORTGAGES
8,1. Permitted Mortgagee. Notwithstanding anything elsewhere contained in this.Lease,.the
Lessor hereby consents.to any one or more leasehold deeds of trust (a "Permitted Mortgage") executed
from time to time from the Lessee, as grantor, to the trustee named therein for the benefit of the lender .
named therein pursuant to which The Lessee shall Mortgage its leasehold Interest as the Lessee iti this
Lease to secure indebtedness undertaken for the construction of Improvements pursuant to this Lease, and
. any Insurer or other credit enhancement provider that insures repayment of the indebtedness.secured by
the deed of trust and their respeetivc successors or assigns (collectively, a "Permitted Mortgagee"). The
right of the Lessee to mortgage its interest in this Lease to one or more Permitted Mortgagees under one
or more Permitted.Mortgages, and to assign this Lease solely as collateral security for. any Permitted .
- Mortgage(e,g,, construction and/or permanent loan or loans)obtained by the Lessee to be secured by the
Improvements for which the Permitted Mortgage has been obtained, shall be subject to the conditions (i)
that all rights.acquired tinder such Permitted Mortgage shall be subject to the terms of this Lease and to
all rights and interests of the Lessor herein,'(ii) that this Lease shall not be in default at the time of any
such mortgage or assignment of the Lessee's interest in this Lease to a Permitted Mortgagee, and (ill)that
no interest .of-the Lessor under this Lease or in the Premises shall be scoured by or subject to such .
Permitted Mortgage, -
8.2 I.cessoe Protective Provisions. Every Permitted Mortgagee to whom the Lessee grants a
Permitted Mortgage upon the Lessee's leasehold estate must expressly agree that, subject to the-rights of
the Permitted Mortgagee provided by this Lease: -
8.2.1 The Permitted.Mortgagee shall not exercise any of its remedies for any default or defaults
of the Lessee,without first providing the Lessor with notice in the manner required herein;
8.2,2 Such Permitted Mortgagee will accept a cure by. the Lessor of any such default which is
. Capable of being cured, except.the Lessor shall not be required to cure any such default and the Lessor shall
have a cure period that will,coxmmenee upon notice to the Lessor of such default and wilt be equal in length
to the applicable cure period,if any, as provided to the Lessee; and
8,2.3 : All payments so made and. all things so done or performed by the Lessor will be as
. . effective to prevent an acceleration of the maturity of the indebtedness secured by the Permitted Mortgage,
the foreclosure of any liens securing payment of such indebtedness,or the exercise of any other remedies by
such Permitted Mortgagee upon default by the Lessee thereunder, as the same would have been if paid,
done or performed by the Lessee instead of the Lessor, .
The Lessor will not be-or become liable to any such Permitted Mortgagee as a result of the right
. and option to cure any snob default or defaults .by the Lessee. Notwithstanding the foregoing, those .
defaults which,-by.their very nature, are not reasonably susceptible to being cured (as,.for example, the
bankruptcy of the Lessee) shall not constitute grounds of enforcement of rights,,rce urses or remedies •
under the.Permitted Mortgage by a Permitted Mortgagee, including•foreclosure,.if the Lessor (1) makes
. all payments and'performs all obligations under the Permitted Mortgage, and (2) thereafter continues to -
compl.y with those provisions of the Permitted Mortgage.
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a n
•
8.3 Permitted Mortgagee Protective Provisions, The Lessor hereby agrees to the following •
for the benefit of any Permitted Mortgagee; •
• 8.3,1 The Lessor shall not terminate this Lease (or Lessee's rights hereunder).for any Event of
Default without first advising such Permitted Mortgagee, in writing, of such. Event of Default arid
Permitting such Permitted Mortgagee to cure such Event of Default ow behalf of the Lessee within ninety
(90) days after Lessor has given notice to such Permitted Mortgagee any Event of Default. If, during such
ninety (90) day period,the Permitted Mortgagee takes action to cure such Event of Default but is unable, by
reason pf the nature of the default involved, to cure such.Event of Default within such period, then the •
' Permitted Mortgagee, provided it promptly commenced its curative work promptly upon receipt of such
• notice and.has diligently and continuously.proceeded such curative work.thereafter, shall have a reasonable
time thereafter (determined on'the basis of the nature of such.Event of Default, but in no event to he less•
than three mouths)to cure the same,during which,period the Lessor shall not terminate this Lease. Further,
if any Event of Default is not cured within such period as provided above, and(1)the Permitted Mortgagee
shall have given the notices necessary to commence foreclosure of its Deed of Trust prior to the expiration
of snob period and thereafter foreclosure is diligently prosecuted (unless the Permitted Mortgagee is
enjoined or stayed from giving such notices or exercising its right of foreclosure, in which event.such cure
period shall be extended by the period of such injunction or stay provided that such.Permitted Mortgagee
shall diligently attempt to remove any such .injunction or stay); and (2) the purchaser or assignee at the
foreclosure has fully cured any monetary default or has promptly cotnmeneed to cure any non-monetary
default that Is not reasonably curable within thirty (30) days and thereafter-diligently pursues completion
thereof within.a reasonable time thereafter in accordance with this Lease,then the Lessor will not terminate.
this Lease because of the occurrence of such Event of Default,, The Lessor shall accept.amounts paid or
. notions taken by or on behalf of any Permitted Mortgagee.to enure any Event of Default during.the,periods
described above, Nothing under this Section shall be construed to obligate a Permitted Mortgagee to either
cure any Events of Default or foreclose the liens and security interests under its Permitted Mortgage as a •
,consequence of an Event of Default regardless of whether such Event of Default is.subsequently cured, If
the Permitted Mortgagee or the purchaser at foreclosure Cures all such Events of-Default on behalf of the
Lessee which are reasonably susceptible of.being cured by such Permitted Mortgagee or purchaser,then all
other such Events of Default of the Lessee will no.longer be deemed to be in default under this Lease.
• 8,3,2 Those Events of Default, which by their very nature, are not reasonably susceptible to
• being cured- (as, for example, the bankruptcy of Lessee) shall not constitute grounds of en breement of
rights, recourses or remedies hereunder by the Lesser including termination of the Lease,.if a Permitted •
Mortgagee either before or after a foreclosure of its Permitted Mortgage '(I) makes all Payments and
'performs all obligations hereunder capable of being performed by the Permitted Mortgagee, and (2)
thereafter continues to comply with those provisions of this Lease. .
8.3,3 If a Permitted Mortgagee- enforces the rights •and remedies pursuant to the terms of its
Permitted Mortgage (including foreclosure of the Permitted Mortgage) such enforcement shall not
constitute an Event of Default by Lessee hereunder, The Permitted Mortgagee shall have the right, but not
the obligation, to expel the Lessee upon the occurrence of an Event of Default and assume the position of
the Lessee with all rights and duties under this Lease,
8,3:4 If a Permitted Mortgagee should foreclose its Permitted Mortgage and should, as a result of
such foreclosure, succeed to any of the rights of the Lessee hereunder, then such Permitted Mortgagee shall
be subject to all the terms and conditions.of this Lease and•shall be entitled to all the rights and benefits of
this Lease; provided, however,that(1)such Permitted Mortgagee shall not be liable for any act or omission
of the Lessee;•(2) such Permitted Mortgagee shall not be subject to any offsets or defenses which Lessor
has, or might have, against the Lessee; (3) -such Permitted Mortgagee shall not be. bound by any
amendment, modification, surrender or waiver of the terms of this Lease made without the prior written .
consent of such Permitted Mortgagee (which consent shall not be unreasonably withheld or delayed); (4)
such Permitted Mortgagee shall have the obligation.to pay all Land Rent; and (5)upon the written request
439818v13

•
II
•
of such Permitted Mortgagee, the Lessor shall reaffirm, in writing, the validity of this Lease, and that this
Lease is in full force and effect,
•
8.3,5 The Lessor will not agree to any amendment, modification, surrender or waiver of the
terms of this Lease without the prior written consent of each Permitted Mortgagee,which consent shall not
be unreasonably withheld or delayed: •
8.3.6 In the event of the termination of this Lease prior to the expiration of the Term, the Lessor
will serve upon any Permitted Mortgagees written notice that this Lease has been terminated together with a
statement of any and all sums which would have at that time been due under the Lease but for such
termination and of all other Events of Default, if any,under this Lease then known to the Lessor whereupon
the Permitted Mortgagee holding the most senior.Deed cf Trust on all or any.portion of the Premises subject
to a Permitted Mortgage may have the option, but not the obligation, to obtain, with the same terms and
conditions of this Lease (except the identity of the Lessees), a new lease of all Or any portion of the .
Premises subject to that Permitted Mortgage,.subject to,government approval as required by N.C. Gen, Stat.
§1d6-27, as amended, by giving notice to the Lessor to such effect within ninety(90) days after receipt by •
such Permitted Mortgagee of notice of such termination which new lease shall be(1)effective as of the date
of termination of this Lease, (2) for the remainder of the Term, and (3) at the same Promises Rent and Upon
all of the agreements, terms, covenants and conditions hereof Upon the execution of such new lease, the
lessee named therein shall pay any and all•sums which at the time of the-execution thereof would be due
. under this•Lease but'for such termination, together with any expenses of the Lessor, including, without
limitation, reasonable attorney's fees, court costs and disbursements incurred by the Lessor in connection
with theEvent of Default and such termination, the recovery of possession of the Premises and the
preparation, execution and delivery of such new lease.
8.3.7 All notices given hereunder by the Lessor to the Lessee shall also be given concurrently to
each Permitted Mortgagee who has previously designated its address in writing to the Lessor,
8.3.8 The Permitted Mortgagee or any other person succeeding to the interests of the Lessee
through. a foreclosure will be subject to all of the terms and conditions of this Lease except as otherwise
expressly provided in this Lease, Foreclosure for purposes of this Lease shall include a conveyance in lieu
• of foreclosure.
8,3,9 The liability of the Permitted Mortgagee under the Lease will be limited to the period
• during which the Permitted Mortgagee may own the interest of the Lessee hereunder, Upon the.Permitted
Mortgagee's assignment or transfer of its rights and interests in and to this Lease to a third,party, the
Permitted Mortgagee will have no further liability for.any obligation arising after such transfer date, such
liability will be borne by the assignee or transferee.
•
•
ARTICLE IX .
MISCELLANEOUS •
9.1. . Environmental Matters, • .
•
9.1,1. The Lessee shall not knowingly cause or permit hazardous Material (as hereinafter
defined) to be brought upon, kept, or used in or,about the Premises by the Lessee, Its sublessees, agents,
employees, contractors, or invitees, except for such Hazardous Material as is necessary for the operation of
the business of the Lessee or-any sublessee. Any such Hazardous Material used for the business of the
Lessee or any sublessee shall be handled, stored and disposed of in accordance with applicable laws, rules
Curd/or regulations. •
•
43981803:

fl
•
•
•
9,1.2 As used herein, the term "hazardous Material" means (i) any "hazardous waste" as
defined by the Resource Conservation and Recovery Act of 1.976, as'amended from time to tine, and the
regulations promulgated thereunder; (ii) any "hazardous substance' as defined by the Comprehensive •
Environmental Response, Compensation, Liability Act of 1980, 'as amended from time to time, and
regulations promulgated.thereunder; (iii) any material or substance regulated.by-the Toxic Substances
Control Act as amended from time to time and regulations promulgated thereunder; (iv) any material or •
substance regulated by the Federal Insecticide, Fungicide and Rodenticido Act,•as amended from time to
• time, and the regulations promulgated thereunder; (v) any oil, petroleum products, and their byproducts;
• and (vi).any other hazardous, toxic or dangerous material or substance that is or'become regulated by any
- federal,state or local law or regulation, •
•
- 9,1,3 Prior to the commencement,ofconstruction of any,Improvements on the Premises, the
Lessee shall cause.an environmental .audit regarding the portion of the Premises, occupied by such
. Improvements to be conducted by a qualified environmental auditor selected by the Lessee consisting at a
minimum of a Phase• I audit and at such 'additional levels as is reasonably sufficient to determine the
environmental .'condition. of•the pertinent portion of the Premises at the commencement of the -
Improvements, The cost of the environmental audit and any clean-up .undertaken by the Lessee shall be
borne by the-Lessee, The Lessor makes no representations regarding any environmental hazard on the -
Premises. The Lessee shall,'at the Lessee's sole expense; remediate environmental conditions revealed by
the environmental audit to the applicable standards contained in the North Carolina.Administrative Code
Rules enforced.by the North Carolina Department of Environment and Natural Resources (NCDENR.).' If,,
:upon completion of the• environmental audit, the Lessee,, in its sole discretion, determines that
environmental hazards located on the pertinent portion of the Premises make it unsuitable for the Lessee's
purposes, the Lessee may, with'the prior written consent of any applicable Permitted Mortgagee, and by
written notice to Lessor,terminate this Lease as to the pertinent portion of the Premises, If the remediation
plan proposed by the Lessee is not approved'by NCDENR, this Lease.shall be terminated by the Lessor by
Written notice,
•
• 9.2 Time of the Essence.- In all instances where the Lessee or the Lessor is required
hereunder to pay any sum or do any act at a particular indicated time or within an indicated period, it is
understood and stipulated that time is of the essence;
9,3 Notice and Payment. Any notice or payment-which may or shall be made under the
terms of this Lease shall be in writing(in the case of a notice)shall be either delivered by hand or sent by
. United States Registered or Certified Mail, postage prepaid, or by a nationally recognized overnight
• delivery service, to the address set out in Article I hereof or to such address as may be contained in a
notice given as provided above. • -
9.4 .Mhort Form. Upon request by ,either party, the parties shall execute nnd record •a
memorandum or short form of this Lease setting forth such provisions hereof as either party any wish to
incorporate,
9.5 Entire Agreement. This Lease and any.written addenda'referred to herein and all'exhibits -
-hereto expressly referred to herein (which are expressly incorporated .heroin by this reference) shall
constitute the entire agreement between the Lessor and the Lessee and -no prior written or prior or
contemporaneous oral promises or representations shall be binding. This Lease shall not be amended;
changed or extended except by written instrument signed by both parties hereto.
9.6 . 'Interpretation; Governing Law. Pronouns, where used herein, of whatever gender, shall
. include natural persons,.corporations, and associations of every kind and character, and the singular shall
include the plural and vice versa where and as often as may be appropriate. Article and section-headings
• under this Lease are'for convenience of reference and shall not affect the construction or interpretation of
this Lease, Whenever the terms"hereof,""hereby,""herein,"or words of similar import are used in this
n39818v13•

M1 a n
,
Lease,they shall be construed as referring to this Lease in its entirety rather than to a particular section or
provision,unless the context specifically indicates to the contrary. Any reference to a,particular"Article''
or "Sectkrm" shall be construed as referring to the indicated Article or Section of this Lease. Statements
herein in respect to compliance with applicable law text of similar import shall.be construed to require
compliance with.applicable law as now or hereafter in.effect, -The law.of the State of North Carolina and •
applicable federal law shall govern the validity, performance and enforcement of this Lease, and this
Lease shall be construed pursuant to such laws. I
9.7 pinding Effect. The provisions of this Lease shall .be binding upon and inure to the
benefit of the parties hereto and the heirs, executors, administrators, successors and assigns of the parties
hereto, but this provision shall in no way alter the restrictions on.assignment and subletting applicable to
• the Lessee hereunder.
'9.8 .R,elationship of the Parties. This Lease shall not act to create the relationship of partner
or joint venturer between the Lessor-and Lessee. .
9.9 5overability, In the event any term,covenant or eonditlon of this Lease or the application . • •
thereof to any person or circumstance shall to any extent be invalid or unenforoeable, the remainder of
this Lease, or the application of-such term, covenant or condition to persons or circumstances other than .
• those as to which it is held invalid or unenforceable, shall not be affected.thereby, and each.term,
covenant or Condition of this Lease shrill be valid and enforceable to full extent permitted by law. •
. 9.1.0 Construetion of Lease;Ne ro ration by the Parties. The Lessor and Lessee have each had
an opportunity through their appointed representatives or otherwise to•discuss and negotiate the terms of
this-Lease and are informed and capable of evaluating the contents thereof; Accordingly, this Lease shill
be constructed simply according to its fair meaning and not strictly for or against the Lessor or Lessee
whether or not a specific provision thereof was drafted by or an behalf of the Lessor or Lessee,as the case
•may be. .
9,11 Liability. The Lessor is an immune sovereign and Is not ordinarily subject to suit.
However, the Lesseir has enacted the North Carolina Tort Claims Act(the "Act"),pursuant to•which the . .
Lessor may be liable for.tho torts of its officers and employees,within the terms of the Act.•Accordingly, .
the Lessor will be primarily liable for any claims within the coverage of the Act.. Concerning general
liability, the Lesser claims sovereign immunity and therefore cannot •be stied without its: permission..
However, by statute(Chapter 143, Article 31),the Lessor has Waived its sovereign immunity.as provided
in the Act (up to a. limit of$500,000.00). The North Carolina Industrial Commission-is constituted a
court for the purpose of hearing and passing upon tort claims against departments, institutions or agencies
under the Act.
- : 9,12 Force Majeure, The.Lessor will have no liability to the Lessee,.nor will the Lessee have
any right to terminate this Lease or abate rent or assert a claim of partial or total actual-or constructive
.eviction, because of the Lessor's failure to perform•any of its obligations in this Lease if the failure is due
to reasons beyond Lessor's reasonable control, •including without limitation strikes or other labor
di-ffieulties; inability to obtain necessary govenituental permits and approvals (Including building permits
or certificates or occupancy); unavailability 'or scarcity of materials; war; riot; civil Insurrection; .
accidents; act of God; and governmental obligations because of any reasons beyond the Lessor's
reasonable control (including those enumerated above), the period for the Lessor's performance will be
extended day for day for the,duration of the cause of Lessor's'failure, Whenever a period of time is
prescribed for action by the Lessee or a Permitted Mortgagee, the•Lessee and/or such Permitted
Mortgagee will not be responsible for,and there will be excluded from the computation of such period of
• tithe, any delays due to any (a)act of God,adverse and Inclement weather,fire;explosion,flood, cot of a .
public enemy, war, bleekade, insurrection, riot, or civil;disturbance, (b) labor dispute, strike, work
slowdown or work stoppage,(c) order or judgment of any entities, courts,boards,agencies,commissions,. •
•
•
439818v 13 - -

•
•
offices, divisions, subdivisions, departments, .bodies or authorities of any nature whatsoever of any •
governmental unit (federal, state, county, district, municipality, city or otherwise) whether now or
hereafter in existence, if not the result of willful or negligent action of the Lessee, (d) adoption of or
change_ in any applicable laws after the date of execution of this Lease, (e) any actions by the Lessor -
;which may cause delay, or (f)any other similar cause or similar event beyond the reasonable control of
the Lessee (collectively, "Farce Majeure"). The Lessor shall not be obligated to recognize any delay
caused by Force Majeure unless Lessee, 'within ten (1.0) days after- the Lessee, or such Permitted
Mortgagee, as the case may be, is aware of the existence of an.event of.Force Majeure, notifies the
Lessor; provided, however, that neither the Lessee nor any Permitted Mortgagee shall be obligated to
furnish notice of a Force Majeure caused by the Lessor.
9.13 No. Waiver. The waiver by the Lessor or the Lessee of any agreement, condition, or
provision contained in this Lease will not be deemed to be a waiver of any subsequent broach of the same
or any other agreement, condition, or provision contained in this Lease,,nor will-any custom or practice
that may grow up between the parties in the administration of the terms of this Lease be construed to
waive or lessen the right of either .party to insist upon the performance by. the other party in strict
accordance with the terms of this Lease.
•
•
•
•
•
•
•
•
jSignature Pages Follow]
439818v13 -

•
(Signature Page for Lessee)
WHEREUPON, the Lessor and Lessee have executed the foregoing in their official names by
• signatures of their proper officials,with the official seals affixed,date and year first above written.
GATEWAY UNIVERSITY RESEARCH PARK,INC,,
[SEAL] s
By;
Name._ c/o 1+,1 , • 6e t 1
439818v13

-
(Signature Page for Lessor)
STATE of NOR"I CAROLINA
By: .4 1 .4 -410�1 _.. AM''
Michae P. Easley, ovornor
ATTEST;
gio... ..,By: -
Elaine F. Mars al ,Secretary of,tato
ATTEST;
Roy Cooper -
Attorney enora1
Ijy:
ifvt..,,,.,..Q_
1'�
Assistant Attorney General
(SEAL OP THE STATE OP NORTH CAROLINA)
439818v13

• STATE OF NORTH CAROLINA •
COUNTY OF GUILFORI)
•
I, L ?�7 / - d � ,.a Notary Public in and for the County and State aforesaf , do 1wreby reify
Meal/ came before me this day and acknowledged that he is the techr of .
.Gateway University Research Park, Inc., and that by authority duly given an,c1 as allact o -Gateway
University Research Park, Inc., the .foregoing instrument was signed by the . P1rear f of the
corporation and sealed with the common seal of said Corporation.
IN WITNESS W1~IPIEOF, I have hereunto set my hand and notarial seal this. of cbi r',2007. '
!l r b 1 . . •
• OTA.RY PU1 LIC
• - Print Name; 4 /4 ft.
My Commission Expires; OOS
[Notary Seal'
•
•
439818v13

"
STATE OF NORTH CAROLINA
COUNTY OP WAKE
I,-AWN-It ea461a Notary Public in and for the County of 0/1_111449 and State of North
Carolina, do hereby certify that •ELAINE F. MARSHALL, Secretary of State of North Carolina,
personally came before me this date and acknowledged that she is Secretary of State of North Carolina,
and that by authority duly given and as an act of the State, the foregoing instrument was signed in its
name by MICHAEL P, EASLEY, Governor of the State of North Carolina, sealed with the Great Seal of
the State of North Carolina,and attested by herself as Secretary of State of North Carolina.
IN WITNESS WHEREOF, I have hereunto sot my hand and notarial seal, this the $S' day of4fiietre,,h
s
2007, - •
NARY�V7luCS���pY
ANNUL BAUGHMAN
PUBLIC Jl1NNfc
Print Name: •4111.
Notary Public
Johnston County
My Commission Expires: _ ({ Moto of North Carolina
-
My Commission l3upiras Nov 21, 201 1
[Notary Seal] •
439818v13 •-

Book 6708 Page 894
IIIIIII IIIIIIIII11111111I1111111111 l Ill
200703/046
GUILFORD CO,NC FEE$26,00
PEESEN?EO RR!CORDED.
04-17-2007 01:09:23 PM
JEFF L.THIGPEN
RECOVER Di DEEDS
Br;LINDA F.ALLRED
DEPUTY
BK: R 6708
PG: 894-898
Return To: Mark Teague,P.O.Box 629,Raleigh,N.C.27602
STATE OP NORTH CAROLINA
MEMORANDUM OR LEASE
COUNTY OF GUILFORD
GATEWAY UNIVERSITY RESEARCH PARK, INC., hereby leases from the STATE OF NORTH
CAROLINA for a term beginning December 1,2006, and continuing through and including November 30,2056,
excluding extensions and renewals,the property described as follows:
See Exhibit A attached.
•
The provisions set forth ,in a written Lease Agreement between the parties dated
,2007,are hereby incorporated in this Memorandum.
This the /, fLday of RO-re ,2007.
•
GATEWAY UNIVERSITY RESEARCH PARK,INC.
•
J
Name:
1 .+C DitEc--7O
Title:

Book 6708 Page 895
STATE OF NO H CAROLINA
Governor
*•":,
ATTEST:Nai k..-e/c9: 711$44(cet
4 to“-D771)s Q,p4,ti,
Secretary of State i cl'°11,1 . TZliiiTi''' 43 o' '.
STATE OF NORTH CAROLINA L____ t v,f • .,' , `�
� -' ter' A
COUNTY OF_4 rlbh. ,+ , '� a1Yt@ iN ,' '
•
I, I1 . C-t/�� ,a Notary Public ifi anc for`' .. •.:•. aforesaid,
do hereby certify that h A R. f'Yl+°.et•!11 came before me this`c4.41 d,adki owledged that he is
• the t X E 14,fne. DJ r e c!i)2.. • of Gateway University Research Park,Inc.,and that by authority duly
gi en and an act of Gateway University Research Park, Inc.,-the-foregoing instrument was signed by the
�. it of the corporation and sealed with the common seal of said corporation.
IN WITNESS WHEREOF, I have hereunto set my hand and Notarial Seal this the 3 I4 day of
J (4 L,A./ ,2007. •
• •,a-tettALL._.' /1,6_66 Notary Public. `•:',�,;.•,ri:1 .,,f�a�,0.1,
M Commission Expires: •: • , 41:..,,,,
` ; '0+ 59.'.ttt Ili 2 mac•
STATE OF NORTH CAROLINA • • 0 • ,:•.'` ��`
COUNTY OF .KK.� • .. . ,'ry:.4.A 1 Itr�F'4,}!Yv: ,`.e
VJO
r t u ���: '��•� r
I,<Junk/1 Etta i ,a Notary Public i n and for t,l ' ' :• County
and State,of North Carolina,do hereby certify that ELAINE F.MARSHALL,Secretary of State of.North Carolina,
personally came before me this day and acknowledged That she is Secretary of State of North Carolina,land that by •
authority duly given and as the act of the State,the foregoing instrument was signed in its name by MICHAEL P.
EASLEY Governor of the State of North Carolina,sealed with the Great Seal ofthe State of North Carolina,and attested
by herself as Secretary of State of North Carolina.
IN WI ESS WHEREOF,, I have hereunto set my hand and Notarial Seal, this the 1- day of
r��L�z�i ,200F I. ...w.�
Nota Public /UVI
-4146-41
My Commission Expires:
(1-Q(—r1Q 1,( ANNUL BAUGHMAN •
• Nalary Poo •
Johnston Counly
State of North Carolina
My Commission Expires Nov 21, 2011 P

Book 6708 Page 896
EXHIBIT A
LEGAL DESCRIPTION OF LAND •
Those certain tracts or parcels of land'lying and being in Monroe, Madison and Jefferson
. Townships, Guilford County,North Carolina, in or near the City of Greensboro and more particularly
•
described-as follows:
•
. North Campus •
•
BEGINNING at an existing iron pipe, said iron pipe being in the western right-of-way line of U.S.
Highway #29 and being the Northeast corner of the George T. Greene, Jr, property, thence with the
. line of George T. Greene;Jr.'s property,N. 57 deg. 30 min, 33 sec. W. 269.50 feet to an existing iron
pipe, George T. Greene, Jr.'s Northwest corner; thence with•his line S. 32 deg. 28 min. 27 sec. W.
240.90 feet to an existing iron pipe; thence N. 87 deg. 46 min. 21 sec. W, 122.65 feet to an existing
•iron stake; thence S. J0 deg. 32 min. 00 sec. W, 128,07 feet to a new iron pipe;thence S. 68 deg. 36
min. 42 sec. W. 647.92 feet to an existing iron pipe in a pile of stone; thence N. 56 deg, 58 min, 11
• see. W. 575,34 feet to an existing stone corner, a corner between George T. Greene, Jr. and W. H.
Worrell;thence with Worrell's line N. 59 deg. 33 min. 17 sec.W.296.32 feet to an existing iron pipe
in Rodger's Branch;thence down the branch along the east side of the Camp Herman Addition of the
Hardie Farm Subdivision and with the center line of said branch,N. 38 deg. 02 min. 21 sec.E. 70.56
• feet,N.'41 deg. 15 min. 11 see E. 126.46 feet,N.57 deg.46 miii. 03 sec.E. 137.42 feet,N.67 deg.38
min. 03 sec. E. 122.45 feet,N. 29 deg. 27 min. 50 see. E. 130,77.feet,N. 25 deg. 15 min. 39 sec. E.
220.81 feet,N. 71 deg,35 min. 18 sec, E.203.96 feet,N.47 deg.43 min.46 sec.E. 325,11 feet,N.36
deg. 53 min. 41 sec. E. 108,92 feet,N.28 deg. 43 min. 24 sec. W. 64,02 feet,N. 02.deg. 45 min, 30
see. E. 138.26 feet, N. 26 deg. 32 min. 47 see. W. 140.09 feet,N. 07 deg. 58 min. 43 sec. W. 187.68
• feet, N. 12 deg..47 min, 37 sec. E. 260.71 feet, N. 09 deg, 21 min. 16 sec, E. 167,28 feet to the
Northeast corner of the Camp Herman Addition of the Hardie Farm Subdivision; thence along the
south side of Rodger's Branch the following courses and distances; N. 77 deg. 17 min. 18 sec. E.
•60,01 feet to an iron pipe,N. 52 deg.23 min. 22•sec, E. 110.08 feet to a new iron pipe, S. 70 deg. 59
min, 33 sec. E. 67.91 feet to a new iron pipe,N. 24 deg, 02 min. 01 sec. E. 77.91 feet, S, 46 deg. 38
min. 54 sec, E. 92.78 feet to a new iron pipe, S. 30 deg. 10 min. 50 sec. 13. 91,03 feet to a new iron
pipe, N. 43 deg. 15 min. 14 sec.E. 52.26 feet, S. 50 deg.40 min.41 sec. E. 102.73 feet to a new iron
pipe, S.39 deg. 15 min.37 sec.E. 156.74 feet to a new iron pipe,N. 70 deg. 43 min.28 sec.E. 158.51
feet to a new iron pipe,N. 59 deg. 52 min, 32 sec. E. 145.13 feet to a new iron pipe; thence leaving
said branch and with a new line with Reedy Fork Ranch, Inc., S. 56 deg. 17 min. 12 sec. 13, 1026.29
feet to a new iron pipe in the west right-of-way line of U.S. Highway 429; thence with the west line of
Highway#29,S.32 dog. 11 min, 09 sec.W. a chord distance of 250.00 feet to the point of tangency,a
new iron pipe; thence along the tangent portion of U.S. Highway#29, S. 32 deg. 30 min. 12 sec. W.
1316.43 feet to the point of BEGINNING; containing 75 acres,more or less.
•
•
•
439818v6

nook 6708 Page 897 •
••
South Campus
•
BEGINNING at and existing iron stake and having NC Grid Coordinates of N-841488.3870, E-
. 1779407.1291 (NAD 83),said iron being S36°08'09"W 1742.71' from City of Greensboro Monument
"35W 200", said monument having NC Grid Coordinates ofN-842895.8384, E-1780434.8082(NAD
.83),said iron stake also being the southeast corner of Chelsea Memorial Park, Inc. (Tax Parcel 00-00-
0213-0006-005-A),see Deed Book 4981, Page 557,said iron also being the southeast corner of lot 33 •
of Woodlawn Dairy Farm; as recorded in Plat Book 13, Page 86, said iron also being the southwest
corner of A&T College Farm(Tax Parcel 05-03-0148.0497-004),see Deed Book 570, Page 364,said
iron also being 887°56'04"E 260.59' from an existing stone, said stone being the northwest corner of
A&T College Farm (Tax Parcel 05-03-0148-0497-003), see Deed Book 1056, Page 1563 and Deed •
Book3674, Page1563, said stone also being the northeast corner of lot 55 of College Forest Section 2,
as recorded in Plat Book 87,Page 50,said stone also being the northeast corner of the within described
tract; thence on a new line with said A&T College Farm the following thirty eight courses (38)
• courses: (1) S87°56'04"E 324,13' to a new iron stake, thence(2) S32°08'03"E 31.02' to a new iron •
stake, thence(3) S50°48'07"E 366.88' to a.new iron stake, thence (4) S00°00'B 48.21' to a new iron
stake, thence(5)N89°54'23"E 83.41' to a new iron stake, thence (6)'N42°07'40"E 354.07' to a new
iron stake, thence(7)N33°10'l0"E 19.85' to a new iron stake, thence(8)N87°22'33"E 108.20' to a
new iron stake,•thence(9)N86°3I'22"E 299.27'to a new iron stake,thence(10)S78°52'09"E 2.87.63'
to a new iron stake,thence(11)NO2°39'08"E 159,71' to a new iron stake,thence(12)N00°32'04"W
22.90' to a new iron stake, thence (13) N05°01.'16"E 100,89' to a new iron stake, thence (14)
S88°12'15"E 258.75' to a new iron stake, thence (15) S88°35'47"E 198.37' to a new iron stake,
thence(16) S l7°40'16"E 572.02'to a new iron stake, thence(i 7) S44°33'59"W 50.94' to a new iron
stake, thence (18) 837°48'28"W 596.75'. to a new iron stake, thence (19) S70°03'26"•W 22.17' to a
new iron stake, thence (20) 865°59'51"W 14.60" to a new iron stake, thence (21) S62°52'24"W
14.68' to a new iron stake, thence (22) S$1°54'58"W 32.33' to a new iron stake, thence (23)
S49°47'04"W.215.27' to a new iron stake, thence (24) S82°34'36"W 47.19' to a new iron stake,
. thence (25) S83°59'3l"W 104.82' to a new iron stake, thence, (26) S84°43'01"W 122.47' to a new
iron stake,thence(27)S78°02'42"W 22.02' to a new iron stake,thence(28) S65°34'30"W 173.53'to
a new iron stake, thence(29) S62°36'37"W 15,79'to a new iron stake,(30)853°07'32"W 18.79'to a
new iron stake, thence (31) S38°35'09"W 69.15' to a new iron stake, thence (32) S70°42'0S"W
10.87' to a new iron stake, thence (33) S51°25'01"W 40.77' to a new iron stake, thence (34)
855°13'40"W 12.54' to a new iron stake,thence(35)S54°32'16"W 45.53' to a new iron stake,thence
(36) S43°47'31"B 323,12' to a new iron stake, thence (37) SO4°46"E 335.30' to a new iron stake,
thence (38) $04°21'01"E 193.84' to a new iron stake in the northern right of way of East Lee Street
(N.C. Highway 6);thence along the northern right of way of said East Lee Street the following two(2)
courses; (1)on a curve to the right and having a radius of 2726.00' and a chord bearing and distance of
N59°26'49"W 298.41' to a new iron stake, thence(2)N56°l 8'34"W 1611.82'to an existing bent iron
' stake, said iron being the southeast corner of lot 41 of College Forest Section 2, as recorded in Plat
Book 87, Page 50, thence along the eastern property line of said lot 41 N01°26'59"E 92.88' to an
existing bent iron stake,said iron being the northeast corner of lot 41 and the southeast corner of lot 42 •
of said plat; thence along the eastern property line of said lot 42 N01°55'40"E 85.02' to an existing
bent iron stake, said iron being the northeast corner of lot 42 and the southeast corner of lot 43 of said
plat; thence along the eastern property line said lot 42 and lots 43, 44,45, 46 and 47 of said plat the
following two(2)courses:N01°47'57"E 28.24'to a new iron stake,thence (2)NO1°43'11"E passing
an existing iron stake at 105.06',the northeast corner of lot 44 and the southeast corner of lot 45,and
439.8181113

Book 6708 Page 898
continuing on 179.73' for a total distance of 284.79' to an existing iron stake, said iron being the
northeast corner of lot 47 and the southeast corner of lot 48 of said plat; thence along the eastern
property line of lot 48 N01°57'55"E 81.51' to an existing iron stake, said iron being the northeast
corner of lot 48 and the southeast corner of lot 49 of said plat;thence along the eastern property line of
said lot 49 N01°52'44"E 67.57' to an existing iron stake,said iron being a corner of said lot 49 and the
southeast corner of lot 53 of said plat; thence along the eastern property line of said lot 53 and lot 54
of said plat N01°53'17"E 247.68' to an existing iron stake, said iron being the northeast corner of said
lot 54 and the southeast corner of lot 55 of said plat;thence along the eastern property line of said lot
55 N01°50'21"E 109.97' to an existing stone in the southern property line of lot 31 of Woodlawn
Dairy Farm as recorded in Plat Book 13, Page 33, said stone also being the northeast corner of lot 55
of College Forest Section 2 as recorded in Plat Book 87,Page 50, said stone also being the northwest
corner of A&T College Fann(tax parcel 05-03-0148-0497-003), see Deed Book 1056, Page j5.3;and
Deed Book 3674, Page 1563, said stone also being the northwest corner of the within described tract,
thence along the southern property line of said lot 31, and lots 32 and 33 of said plat S87°56'04"E
260.59' to the point and place of BEGINNING; containing 71.38 acres, more or less, and being a
portion of the A&T College Farm (Tax Parcel 05-03-0148-0497-004, see Deed Book 570, Page 364),
and the A&T College Farm (Tax Parcel 05-03-0148-0497-003, see Deed Book 1056, Page 517 and
Deed Book 3674,Page 1563).
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Bk 6708-894 Memo of Lease South Campus = 71 .38 acres 1/11/2018
Scale: 1 inch= 400 feet (File: Gateway University.South Campus 71.38 acres Memo of Lease Bk 6708-
Tract 1:71,3675 Acres,Closure:n89.2648e 0.89 ft.(1/10018),Perimeter=8886 ft.
01 s87.5604e 324.13 28 s65.3430w 173,53
02 s32.0803e 31.02 29 862,3637w 15,79
03 s50.4807e 366.88 •30 s53.0732w 18.79
04 300.00e 48.21 31 s38.3509w 69.15
05 n89,5423e 83.41 32 s70,4205w 10.87
06 n42.0740e 354,07 33 s51.2501w 40.77
07 n33.1010e 19,85 34 s55,1340w 12.54
08 n87.2233e 108.20 35 s54,3216w 45,53
09 n86.3122e 299.27 36 943,4731e 323.12 •
10 s78.5209e 287.63 37 s04.46e 335.30
11 n02.3908e 159.71 38 s04.2101e 193.84
12 n00.3204w 22.90 39 Rt,r=2726.00,chord=n59,2649w 298,41
13 n05.0116e 100.89 40 n56.1834w 1611,82
14 s88,1215e 258,75 41 n01.2659e 92.88
15 s88.3547e 198.37 42 n01.5540e 85.02
16 317.4016e 572.02 43 n01.4757e 28.24
17 s44.3359w 50.94 44 n01,4311 a 284.79
18 s37.4828w 596.75 45 n01.5755e 81.51
19 s70.0326w 22,17 48 n01.5244e 67.57
20 s65.5951w 14.60 47 n01.5317e 247.68
21 s62.5224w 14.68 48 n01.5021e 109.97
22 s51.5458w 32.33 49 s87.5604e 260.59
23 s49.4704w 215.27
24 382.3436w 47.19
25 s83.5931w 104.82
26 s84.4301w 122.47
27 s78.0242w 22,02