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WHEREAS, it is understood by the parties that the land on which the specific fields referred to <br />herein are to be located is owned by the University of North Carolina at Chapel Hill and is State <br />property, that the land on which the fields referred to herein are to be located is leased to the <br />Orange County Commissioners for the specific purpose of providing additional land for the <br />School Site, and that all agreements between the parties will be subject to the underlying lease <br />agreements and rights of the State of North Carolina and the University of North Carolina at <br />Chapel Hill but in no event shall the County's and the Town's access to the soccer field <br />identified as Field 3b in this Agreement, once constructed, be denied or limited during the term <br />of this Agreement; and <br />WHEREAS, the Board of Education has or expects to have control of land currently owned by <br />the University of North Carolina at Chapel Hill which is to be leased to the Orange County <br />Commissioners for use by the. Chapel Hill - Carrboro City Schools, and has represented that the <br />leasing arrangement has been approved by the Board of Trustees of the University of North <br />Carolina at Chapel Hill and currently awaits approval by the Council of State, that the plan to <br />construct new recreational and athletic fields on the property which will be. the subject of the <br />lease, and that the development of the fields referred to herein is specifically conditioned upon <br />the final execution and approval of that lease by the Council of State, the University of North <br />Carolina at Chapel Hill, the Orange County Commissioners, and the Chapel Hill - Carrboro City <br />Board of Education. <br />NOW, THEREFORE, in consideration of the foregoing and of the mutual promises and <br />obligations set forth herein, the receipt and sufficiency of which is hereby acknowledged, the <br />parties agree as follows: <br />3 <br />