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2004 NS Purchasing - NORCA HOLDINGS LLC to purchase Durham Technical Community College Satellite Campus Site
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2004 NS Purchasing - NORCA HOLDINGS LLC to purchase Durham Technical Community College Satellite Campus Site
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Last modified
4/14/2011 12:06:52 PM
Creation date
2/21/2011 11:51:12 AM
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BOCC
Date
6/23/2004
Meeting Type
Regular Meeting
Document Type
Contract
Agenda Item
8a
Document Relationships
Agenda - 06-23-2004-8a
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\Board of County Commissioners\BOCC Agendas\2000's\2004\Agenda - 06-23-2004
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<br />c. Utilities. Seller shall deliver to the Property on or before May 1, 2006, public <br />utilities, including water and sewer and electricity extended to the boundary of the Property in a <br />manner sufficient to allow Buyer to make all necessary connections to said public utilities for the <br />benefit of the Property. Provided, however, in the event that Seller is prevented from delivering <br />utilities to the Property as set forth in this paragraph as a result of the action or inaction of any <br />govermmental entity or utility provider. Seller's failure to do so shall not be an event of default <br />under this Contract. In the event of a delay resulting from the action or inaction of any <br />governmental entity or utility provider, Seller shall continue to use its best efforts to deliver the <br />public utilities to the Property within a reasonable time after the cause of the delay is resolved. <br />d. Roadway Access. Subject to the approval of final right of way alignment by the <br />Town of Hillsborough, the road connection from Old NC 86 to the Property shall be completed <br />in a mamrer consistent with the requirements of the Master Plan and the Town of Hillsborough, <br />and available for use with four (4) travel lanes on Waterstone Drive to the southwestern <br />boundary of the Property on or before July 1, 2007. <br />Subject to the approval of the final right of way alignment by the Town of Hillsborough, <br />the road connection from the southwestern boundary of the Property to New NC 86 shall be <br />completed in a mamter consistent with the requirements of the Master Plan and the Town of <br />Hillsborough, and available for use with at least two (2) lanes of navel on or before 7uly 1, 2007. <br />e. Transit Stop. Contingent upon the approval of the Town of Hillsborough, a <br />transit stop shall be located along the road connecting the Property to New NC 86. This transit <br />stop shall include a bus turnaround, an adequate and appropriately designed shelter. Seller shall <br />use its best efforts to complete this transit stop and make it available for use no later than <br />July 1, 2007. <br />£ Development Plan Review. Prior to Closing, Seller will subject the Property to a <br />declaration of restrictive covenants (the "Declaration"). Seller shall provide Buyer with a copy <br />of the Declaration for review prior to recording it in the Orange County Register of Deeds. The <br />Declaration shall include, without limitation, provisions for adopting architectural design <br />guidelines ("Design Guidelines") to be administered and enforced by an Architectural Control <br />Committee and the creation of a property owners association. Seller shall employ Michael <br />Watson, AIA, of Bowers, Ellis & RTatson Architects, P.A. of Asheville, North Caro]ina to <br />prepare the Design Guidelines. The Design Guidelines shall be provided to the Buyer a <br />reasonable amount of time prior to the conclusion of the Buyer's Inspection Period and no later <br />than October 15, 2004. The Declaration and Design Guidelines shall not be subject to the <br />approval of Buyer; provided, however, said Declaration and Design Guidelines shall not prohibit <br />the construction of a community college or public library on the Property. <br />The Buyer shall develop the Property only with a community college or public library <br />unless Seller agrees in its sole discretion to remove such restriction. In the event Buyer decides <br />to build a public library on the Property, the librazy will be located on the Property at a location <br />mutually acceptable to Seller and Buyer. Further, Buyer agrees not to construct any other <br />structure of any kind or nature whatsoever in the area between any such library building and the <br />boundary between the Property and Parcel 14. The Deed shall contain use restrictions consistent <br />6 <br />R7P 84406v7 <br />
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