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4 <br />NOW THEREFORE, do we, the Board of County Commissioners of Caswell, Orange <br />and Person Counties hereby agree to the following: <br />l. Migration Date. The Parties agree that migration of services from the <br />Regional Library to the independent county library systems shall be <br />completed by Apri130, 2013. <br />2. Transition Plan. The Parties will move from the Regional Library to <br />independent county library systems in accordance with the Hyconeechee <br />Regional Library System Plan of Dissolution approved by the County <br />Boards in May 2011, which is hereby incorporated by reference and <br />attached herein as Attachment A. <br />a. Transfer of Assets <br />i. Asset Purchase. Orange County shall purchase the Honda <br />Civic Hybrid owned by the Regional Library at the fair market <br />value as determined in Kelly's Blue Book (private party) as of <br />May 31, 2012. T'he proceeds from the sale of the vehicle shall <br />be divided among the three counties on an equal basis. <br />ii. Remaining Assets. Any remaining assets shall be transferred <br />as provided in Attachment A. <br />b. Integrated Library System ("ILS") - Polaris System. Each County <br />shall migrate from the ILS as provided in Attachment B. <br />c. Vendors. All vendor agreements shall end for the Regional Library <br />System effective June 30, 2012. Each county library system shall <br />directly negotiate with each vendor for individual county services after <br />July 1, 2012. <br />d. Debts. All remaining debts of the Regional Library System shall be <br />paid as of June 30, 2012. Any debts remaining after June 30, 2012 <br />shall be paid by three counties or pro-rata by the county or counties <br />incurring such debts. <br />3. Failure to Transition Prior Migration Date. Any county not <br />transitioning to an independent county library system by June 30, 2013 <br />shall be responsible for any debts incurred as a result of its failure to <br />migrate off the system. If one or more Counties fail to transfer to an <br />independent system, each County that fails to transfer shall be responsible <br />for its pro-rata cost incurred as a result of its failure to migrate to another <br />system. <br />Memorandum of Understanding 2 <br />Final January 11, 2012 <br />