Land Lease Agreement Term Sheet

14.3. Transfer of premises. No deed or object made by the owner or his agents or employees is considered to be the acceptance of a shed on the premises by the owner before the expiry date, unless such an intention is expressly recognized in writing by the lessor. The handing over of the keys to the premises to the lessor or his assistants or collaborators does not constitute a handover of the premises or does not result in the termination of this lease, whether the keys are then kept by the lessor or not. Neither the delivery of this tenancy agreement by the tenant, accepted or not by the lessor, nor the reciprocal termination of this tenancy agreement function as a merger; but, at the landlord`s choice, either to act as a transfer of all subleases or subleases of the premises, or to put an end to all or part of these subleases or subleases. (i) it is correct, reputable and qualified to operate in the state of North Carolina; it has the right, the power and the power to enter into the lease and all related documents it must carry out (together the “rental documents”), and to fulfil its obligations under the lease documents in written form; the execution and delivery of the lease documents have been duly approved and the signatories who sign on their behalf have the necessary power to link them to the obligations arising from the lease documents; and rental documents are their valid and legally binding obligations that apply to them in accordance with their conditions; 5.3.4. Access to the file. At any appropriate time, but not more than once in a calendar year, the tenant has the right to consult all the landlord`s documents necessary to ensure that all costs have been properly allocated to the tenant. The tenant must inform the landlord in writing at least five business days before making use of this right of control.

The inspection is carried out during the landlord`s normal opening hours in the lessor`s business office and is limited to one or both of the two calendar years immediately prior to the landlord. The tenant has the right to obtain a review by an independent accountant or such representative of the tenant, otherwise chosen (provided that this agent is in no way compensated on the basis of a salvage fee or contingency tax and is reasonably acceptable to the lessor) in order to determine the accuracy of the landlord`s certification regarding the amount of the additional rent charged to the tenant. The tenant pays for the total cost of such a review, including reimbursement of the expenses of the wallet (e.g..B. copying fees, accounting fees, etc.) that are appropriately borne by the lessor as part of the tenant`s review. Notwithstanding the above, when the review shows that the tenant`s proportionate share of the expenses of such a calendar year has been overstated by more than 5%: (i) the lessor reimburses the tenant for reasonable costs incurred by the tenant when the examination is carried out (and be reimbursed to the tenant within 30 days of receiving the tenant`s written application, as well as the appropriate documentation); and (ii) the tenant is not required to reimburse the lessor for the costs he has incurred in connection with such a review. Any default/overpayment payment determined by the examination is paid/reimbursed by the tenant within 30 days of the landlord`s acceptance of the results of the examination, which must not be withheld or unduly delayed.