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Home My WebLink AboutSW6231201_Lease Agreement_20231214 NORTH CAROLINA Site: 108159 CUMBERLAND COUNTY LU: 1722722 PN: 108159-463265 LEASE AGREEMENT THIS LEASE AGREEMENT (the "Lease") is made and entered into as of this — day of rnac J 7 , 2023, by and between KARLA M. LOCKAMY, ("Lessor") and DUKE ENERGY PROGRESS,LLC, a North Carolina public service corporation ("DEP"). WITNESSETH: WHEREAS, Lessor is the owner of certain tracts of land in Black River Township, Cumberland County, North Carolina, being further described in a deed from Mary Lou Lockamy, widow to Vicky Ray Lockamy,dated April 27th 2006, and recorded in Book 7218 Page 510 of the Cumberland County Registry ("Lessor's Land"); and WHEREAS, Lessor hereby agrees to lease a portion of Lessor's Land unto DEC for storage of materials pursuant to the terms of this Lease as hereinafter set forth. OW THE FORE, r and in consideration of the sum of4. OJO � and 00/100 ($r l _e4csn.,ak00) paid by DEC to Lessor and the covenant and subject to the terms and conditions herein contained, and other good and valuable consideration, the receipt and legal sufficiency of which are hereby acknowledged, Lessor and DEC hereby agree as follows. 1. Lease of Premises. Lessor hereby leases to DEP that portion of Lessor's Land described in Exhibit A attached hereto and incorporated herein (the "Premises") for the storage of materials, equipment, vehicles (including heavy equipment) construction trailers, and installation of fencing. DEP shall not erect any permanent structures on the Premises, other than fencing which shall be removed by DEP at the end of Term or earlier termination of this Lease. DEP shall have the right to improve the Premises as reasonably necessary in order to afford convenient access to the Premises including, without limitation, grading, leveling, and filling the land, removing trees and shrubs, and installing roadways and walkways, and shall have the right to fence the Premises and exclude all persons, including Lessor, from the Premises during the term of this Lease. It is expressly agreed, however, that DEP's obligations and rights under this Lease are contingent upon DEP obtaining all necessary permits for its planned construction project on or before October 1, 2023. 2. Term. The base term of this Lease shall commence on October 1, 2023 and continue through September 30,2025(the"Initial Term"). Thereafter,DEP shall have the right to extend the Lease on a monthly basis (the "Renewal Term", and, collectively with the Initial Term, the "Term") for up to six (6) additional one-month periods. Lessor covenants and agrees that DEP, on payment of the rent and other charges provided for in this Lease and fulfillment of the obligations under the covenants,agreements, and conditions of this Lease, shall lawfully and quietly hold, occupy, and enjoy the Premises during the Term of this Lease without any interference from anyone claiming through or under Lessor. DEP, its employees, agents, and invitees shall have access to the Premises twenty-four(24) hours a day, seven (7) days a week, including with heavy equipment. 3. Rent. During the Term of this Lease, DEP shall pay Lessor rent in the amount of $ /.7 5%) •cy.88 per month ("Rent"). DEP's monthly rent payment shall be due and payable before the first (Is1) day of each calendar month without notice,demand, offset, or deduction. If DEP fails to pay all or part of the Rent by the fifth (5th) day of any calendar month during the Term, DEP also shall pay Lessor a late fee equal to five percent (5%) of the unpaid Rent. During the Renewal Term, either party may, upon fifteen (15)days written notice to the other,cancel said monthly extensions at will. 4. Indemnification. DEP will indemnify,defend,and hold harmless Lessor from and against damage to any property of Lessor or others, and injuries to or death of persons proximately arising from DEP's use of the Premises, except to the extent such damage or injury to or death of persons results from the negligence of Lessor, its employees, invitees,or agents. 5. Assignment. DEP shall not to assign, sublet, or in any manner transfer this Lease or any interest in this Lease, or permit the use of the Premises by anyone other than DEP, its employees, agents, and contractors, without the prior written consent of Lessor. 6. Default. If DEP shall fail to comply with any of the terms of this Lease or shall violate any of the conditions hereof or shall cease to use said Premises, Lessor may declare DEP in default by sending a written notice of default to DEP outlining the alleged violations(s)and stating a reasonable period of time, no less than thirty (30) days from DEP's receipt of the notice of default, in which DEP may cure #1705178 1 Doc such alleged violation(s). If DEP shall fail to cure the alleged violation(s) within the time specified in Lessor's notice of default, then Lessor may declare this Lease terminated and enter upon the Premises and take immediate possession thereof. 7. Surrender of Premises. Upon the expiration or sooner termination of this Lease, in whatever manner and whenever terminated,all equipment,materials,and improvements upon said Premises shall remain the property of DEP and may be removed by it any time prior to thirty(30)days after the date of termination or expiration of this Lease. Upon the termination or expiration of this Lease, in whatever manner and whenever terminated, DEP shall, to the extent reasonably practical, return the Premises to substantially the same condition as it was at the commencement of this Lease. 8. Binding Authority. This Lease shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns. 9. Entire Agreement. This instrument contains the entire agreement between Lessor and DEP, and no statement, premise, inducement, representation, or prior agreement which is not contained in this written Lease shall be valid or binding. 10. Governing Law. This Lease shall be governed by and construed in accordance with the laws of the State of North Carolina. 11. Notice. All notices and demands of any kind that either party maybe required or may desire to give to the other in connection with this Lease must be given by registered or certified mail,return receipt requested, with postage fully prepaid, or by nationally recognized overnight courier, and addressed to the party to be served at the party's address as set forth below: To Lessor: Karla M. Lockamy 5460 Sisk Culbreth Rd. Godwin, NC 28344 To DEP: Duke Energy Progress, LLC c/o Joe Louis Real Estate/Land Unit Post Office Box 1551, DEP 3A Raleigh, North Carolina 27602 Any notice shall be deemed received upon actual receipt or refusal thereof. Any party may change the address to which notices to that party are to be directed by notice given in the manner provided in this Section. 12. Duplicate Originals. This Lease is executed in duplicate originals,each party retaining a copy, and the rights, privileges, and obligations hereunder shall inure to the benefit of, and be binding upon the heirs, successors,executors, administrators,and assigns of the parties hereto. IN WITNESS WHEREOF,this Lease has been duly executed by Lessor and DEP under seal as of the day and year first above written. Lessor: By: .AL) Name: Karla M. Lockamy Title: Owner DEP: By: /14A444M` (SEAL) Name: Martha S. Purser Title: Manager Land Services II EXHIBIT A (Description of Premises) 3 "Exhibit A" t - — ---r- It Pi I L - r -_� Y ,I III 111 ' K II / y` yYY! 1 'N 111 S 1 1 .. , , it im1911 l' I :-,;1 IN 1 / ! ifir ! !i hit { / 4186 Old Bluff Church lt�d S I^` i �� a `► F'-r-° 41",' i (4 i Godwin, NC / [ 1 \.// , ,,. ii oil , ,, „ . , ,i, It Z '�i 7. , 1/ 7 /,' ,,,,,, . i s ii; , .I :�y�1 1 i .... _ evr -- 7 :,,,,, _.,_ I/114 Or; � h 1 \ '.... - 1 . - '7"111r, . ... . :1rt ,"),,.. \ ...\." 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