Orange County NC Website
Browse       Search
d. The County shall provide the Speedway with an invoice for payment after <br />each event. The Speedway shall submit payment to the County at the <br />address specified below no later than 72 hours after receipt of an invoice <br />from the County. All payments shall be made payable to Orange County <br />and mailed to Orange County Revenue Collections, PO Box 8181, <br />Hillsborough, NC 27278. <br />4. Termination. <br />a. This contract may be terminated at any time by either party by giving 30 <br />days notice to the other party in writing. <br />b. The County may, in its sole discretion, immediately cease providing <br />equipment and emergency care personnel as provided in this Agreement if <br />the Speedway fails to timely compensate the County according to~ the <br />payment terms contained in Paragraph 3. The Speedway understands <br />that if the County ceases to provide emergency care providers at <br />events for non-payment or untimely payment to the County, then the <br />County Fire Marshal may prohibit the Speedway from conducting <br />events. <br />c. If either party defaults in its obligations including remitting timely <br />payments, and does not cure such default within ten (10) days of receipt of <br />notice of such default, the non-defaulting party may immediately <br />terminate the contract. The right of immediate termination contained in <br />this paragraph is in addition to the County's ability to immediately cease <br />providing personnel, services and equipment to the Speedway for any non- <br />payment or late payments specified in subparagraphs (b) above. <br />d. In the event of termination, the County shall be paid that portion of the <br />fees and expenses that it has earned to the date of termination. <br />5. Insurance. The Speedway shall purchase and maintain from an insurance <br />company acceptable to the County, insurance with the following limits of <br />liability: <br />a. Comprehensive General Liability Insurance -Comprehensive General <br />Liability Insurance shall be carried in the following amounts: $1,000,000 <br />bodily injury each person, $1,000,000 property damage. The County shall <br />be an additional named insured on the General Liability Insurance Policy <br />secured by the Speedway, and the Speedway shall provide appropriate <br />documentation of this status to the County. <br />b. The minimum insurance rating for any company insuring the Consultant <br />shall be Best's A-. If the Consultant does not meet the insurance <br />Draft <br />Page 3 <br />