Orange County NC Website
Exhibit B -Definitions <br />Unless the context clearly requires otherwise, capitalized terms used in this Agreement <br />and not otherwise defined shall have the following meanings: <br />"Contract .Property" means all property leased by the County to the School Board <br />pursuant to the terms of this Agreement and includes the Site, the Improvements and any and all <br />repairs thereto and replacements thereof, and all rights, appurtenances, easements, privileges, <br />remainders and reversions appertaining thereto. It is expressly provided, however, that mobile or <br />modular classrooms located on the site at any time shall not be part of the Contract Property. <br />"Improvements" means all real property and fixtures related to the Contract Property. <br />"Lease Term" means the period of time during which the Contract Property is leased to <br />the School Board in accordance with section 1, as determined pursuant to sections 1(a) (for the <br />commencement of the Lease Term) and 1(b) (for the termination of the Lease Term). <br />"Project Costs" means all costs of the Improvements, including costs of the design, <br />planning, constructing, acquiring, installing and equipping of improvements to the Contract <br />Property, including sums required to reimburse the County or the School Board for advances <br />made for any such costs. <br />"Site" means the land on which the Improvements will be located, as described in Exhibit <br />A attached hereto and incorporated herein by reference. <br />-13- <br />