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(b) Carrboro, Chapel Hill and the County, as the current owners of the Greene Tract, <br />agree to bargain together in good faith and with all due diligence, and to use their respective best <br />efforts, to determine an ultimate use or disposition of the Greene Tract before January 1, 3499 <br />IM. During this period, no Party shall take any action to force any sale or division of the <br />Greene Tract, nor shall any Parry take any action to sell, mortgage or otherwise transfer all or any <br />part of its ownership interest in the Greene Tract. <br />(c) If the owners of the Greene Tract have not reached an agreement as to the ultimate <br />use or disposition of the Greene Tract by Ianuary 1, 2000, then the County, for itself and as agent <br />for the other owners, shall forthwith proceed to offer and sell all the Greene Tract in fee simple <br />for cash to the highest bidder therefore, in such manner as the County may determine in its <br />reasonable discretion. <br />(d) The County shall promptly apply the proceeds of any stea- sale made <br />pursuant to subsection (c) above in the following manner. <br />(i) First, to pay the expenses of the sale; <br />(ii) Second, to pay to the Solid Waste System enterprise fund then maintained <br />by the County pursuant to Section 5.04, the sum of (a) $608,823, being the original purchase <br />price of the Greene Tract, plus (Rol uncompounded interest on such amount at the annual rate <br />of 6% from March 30, 1984, to the closing date of any sale; and <br />(iii) Any remainder shall be distributed in the following proportions: <br />(A) To Carrboro, 14 %; <br />(B) To Chapel Hill, 43 %; and <br />(C) To the County, 43 %. <br />2.04. Liabilities. (a) Under the Transfer Agreement, the County shall assume all <br />liabilities, including environmental liabilities, related to the ownership of the Solid Waste <br />System, including, to the extent permitted by law, all liabilities related to the ownership of <br />Existing System Assets which may have accrued prior to the Closing. <br />(b) Under the Transfer Agreement, the Parties shall retain their individual liability, if <br />any, under environmental laws and otherwise, related to their respective use of the Solid Waste <br />System both before and after the Closing (as, for example, any liability arising from their <br />delivering, or causing to be delivered, Solid Waste to System Management Facilities). <br />(c) The Parries acknowledge that the County's assumption of certain liabilities <br />pursuant to the Transfer Agreement, as described in subsection (a) above, will not limit, and is <br />not intended to limit, the ability of any governmental authority to impose, or to seek to impose, <br />