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name purchase orders or contracts entered in the County's name or the School Board's name for <br />the Improvements; provided however, that if the School Board is in default of any provisions of <br />this Agreement for a period of thirty days after being notified by the County of such default <br />without cure, the County will have the right to assume all the School Board's responsibilities for <br />the construction of the Improvements. In the event of such a default without cure, the School <br />Board will assign any and all right, title and interest to any and all contracts relating to the <br />Improvements, including but not limited to any architect agreements, any and all engineering <br />agreements, any and all construction agreements, and any and all plans, specifications and other <br />drawings or documents prepared or to be prepared for the Improvements. The School Board <br />agrees to reimburse the County for any and all costs, expenses, and damages incurred by the <br />County in the assumption of the rights and responsibilities of the School Board due to such event <br />of default without cure, and, to the extent permitted by law, to indemnify and hold the County <br />harmless for any and all claims for damages by others related to such event of default without <br />cure. <br />e) The School Board will request funds for the payment of Project Costs from the <br />County, and will provide the County with the necessary information supporting a requisition. The <br />County will have the right to obtain such additional evidence as it deems appropriate to <br />determine the accuracy of the representations set forth in the form of requisition and the propriety <br />of payment. The School Board will provide the County with such information in the School <br />Board's possession as the County may request. The County will pay all invoices to the third <br />parties to which money is owed. <br />f) Notwithstanding any provision of this Agreement, the County retains the sole <br />power to control and direct the application and distribution of proceeds of casualty insurance <br />applicable to the Contract Property. <br />3. The County may convey the Contract Property to the School Board <br />Upon the request of the School Board, the County may, in its discretion, convey the <br />Contract Property to the School .Board. The School Board shall ,make this request by the adoption <br />of an appropriate resolution. The School Board will deliver a certified copy of the resolution to <br />the County. The School Board will provide the County with an appropriate form of deed for <br />execution and delivery by the County to the School Board. The School Board will not make this <br />request at any time during which the Contract Property is security for a loan to the County <br />authorized by N.C. Gen. Stat. § 160A-20 or by any other law authorizing County owned property <br />to be used for security for a loan to the County. <br />Notwithstanding anything in this Agreement to the contrary, the School Board's rights to <br />possession of the Contract Property under this Agreement are and will be and all of its other <br />rights subordinate to the rights of the beneficiary of under any deed of trust on the Contract <br />Property securing a loan to the County. Any judicial sale of, or foreclosure on the Contract <br />Property pursuant to such a deed of trust shall terminate all the School Board's rights under this <br />Agreement. <br />• 7 <br />