Orange County NC Website
the cost to the citizens of the County, the State of North Carolina and the United States in any <br />number of public assistance programs; and <br />WHEREAS, the total increase in employment that will be provided by Orange <br />Enterprises with the expanded facilities together with the availability to the County, for other <br />public purposes, of the present Orange Enterprises facility owned by the County are singularly <br />and together adequate consideration to Orange County for the payments made by the County <br />under this Agreement. <br />WITNESSETH: <br />In consideration of the payment by the County to Orange Enterprises of the following <br />building support and operational support, Orange Enterprises agrees to perform its obligations in <br />accordance with the terms of this Agreement. If, however, there shall be any default in any of the <br />covenants, terms or conditions contained in this Agreement or any other agreement made a part <br />of this Agreement and such default is not cured within ninety (90) days after written notice, then <br />and in any of such events, without further notice, the Premises, identified as 348 Elizabeth Brady <br />Road, Building #2, Hillsborough, North Carolina, and generally more particularly described on <br />Exhibit A hereto, shall revert to and become the sole property of the County. In the event of an <br />uncured default and in response to the County demanding that it do so, Orange Enterprises <br />agrees to convey the Premises by North Carolina warranty deed with such title exceptions as <br />exist on the date of the recordation in the Office of the Orange County Register of Deeds of this <br />Agreement, to Orange County, North Carolina. This requirement that Orange Enterprises convey <br />the Premises to the County in the event of a default under this Agreement shall be one that is <br />specifically enforceable by the courts of North Carolina. <br />6 <br />