Orange County NC Website
• 101 <br /> between an informed and willing buyer under no compulsion to buy,and an <br /> informed and willing seller under no compulsion to sell,based upon the use <br /> of the University's LFG Collection System as an ongoing enterprise in its <br /> then current condition utilizing generally recognized professional criteria <br /> for the appraisal of industrial property used in the landfill gas business. <br /> b. If the County and the University cannot agree on a Fair Market Value for <br /> the equipment comprising the LFG.Collection System that is the subject of <br /> the University's offer for sale within thirty (30) Days following the <br /> initiation of good faith negotiations, then such Fair Market Value shall be <br /> mutually determined in an appraisal by an independent, qualified, <br /> nationally recognized appraiser of industrial property similar to the <br /> University's LFG Collection System. <br /> ARTICLE VII <br /> PURCHASE AND SALE OF LFG <br /> A. The University's Purchase Obligations <br /> lll: 112,Subject to the terms and conditions of this Agreement,the County shall sell, <br /> and the University shall accept and purchase,all of the LFG that is delivered to the Delivery Point. <br /> B. Payments to the County <br /> 1,1L 14-&-The University shall make payments to the County based on the heating <br /> energy content of all Gas Sold. Such payments shall consist of the Flare Payment and the <br /> Conversion Payment,as calculated in accordance with Subparts C and D of this Article VII. Such <br /> payments and any other payments that the University may be required to make under this Article <br /> shall be full compensation to the County both for the heating energy content of the LFG and for <br /> {00022477.DOC} <br />