Orange County NC Website
indemnity shall not be effective for damages that result from negligence or intentional acts on the <br />part of the County. To this end, Orange Enterprises will provide for and insure not only its own <br />liability in respect of these matters but also the liability herein assumed. <br />9. The following shall be "events of default" under this Agreement and the terms <br />"event of default" or "default" shall mean, whenever they are used in this Agreement, any one or <br />more of the following events: <br />(i) Failure by Orange Enterprises to observe and perform any covenant, <br />condition or agreement on its part to be observed or performed which failure continues for a <br />period of ninety (90) days after written notice, specifying such failure and requesting that it be <br />remedied, given to Orange Enterprises by the County, unless the County shall agree in writing to <br />an extension of such time prior to its expiration, or if the default be of a nature that it is not <br />reasonably susceptible to being cured within ninety (90) days, the time to cure maybe extended <br />by the County so long as Orange Enterprises is diligently attempting to cure such default. The <br />County shall not unreasonably withhold agreement to extend the time period to cure. <br />(ii) The dissolution or liquidation of Orange Enterprises or the filing by <br />Orange Enterprises of a voluntary petition in bankruptcy, or failure by Orange Enterprises <br />promptly to lift any execution, garnishment or attachment of such consequence as will impair its <br />ability to carry on its operations at the Premises, or the commission by Orange Enterprises of any <br />act of bankruptcy, or adjudication of Orange Enterprises as a bankrupt, or assignment by Orange <br />Enterprises for the benefit of its creditors, or the entry by Orange Enterprises into an agreement <br />of composition with its creditors, or the approval by a court of competent jurisdiction of a <br />petition applicable to Orange Enterprises in any proceeding for its reorganization instituted under <br />the provisions of the Bankruptcy Act, as amended, or under any similar act which may hereafter <br />11 <br />