Orange County NC Website
2. The County shall provide the following building support and operational support <br />to Orange Enterprises: <br />Year Building Support Operational Support <br />2004-2005 $525,000 $43,175 <br />2005-2006 $100,000 $73,175 <br />2006-2007 $100,000 $73,175 <br />2007-2008 $100,000 $73,175 <br />2008-2009 0 $63,175 <br />2009-2010 0 $53,175 <br />3. Orange Enterprises shall purchase the Premises for the sum of $950,000 and make <br />the necessary improvements to the Premises in the amount estimated to be $300,000 in order to <br />improve and upfit the Premises to accomplish the other obligations of Orange Enterprises as <br />contained in this Agreement. The Premises maybe subjected to a deed of trust in favor of a <br />commercial lending institution in an amount not to exceed $715,000 BUT NO OTHER without <br />the written consent of the County. <br />4. Orange Enterprises agrees to insure the Premises for its replacement value, pay all <br />taxes, assessments, utilities and other charges on the property and keep the property at all times <br />properly maintained as specifically provided in paragraph 7 of this Agreement. <br />5. Orange Enterprises makes the following additional representations as an <br />inducement to and the basis for its undertakings and the County's agreement to provide the <br />building support and operational support as provided herein. These representations are covenants <br />7 <br />