Orange County NC Website
including but not limited to any architect agreements, any and all engineering <br /> agreements, any and all construction agreements, and any and all plans, specifications <br /> and other drawings or documents prepared or to be prepared for the Project. The School <br /> Board agrees to reimburse to the County for any and all costs, expenses, and damages <br /> incurred by the County in the assumption of the rights and responsibilities of the School <br /> Board due to such event of default without cure, and to indemnify and hold the County <br /> harmless for any and all claims for damages by others related to such event of default <br /> without cure. Any assignment by the County of any of its rights under the Financing <br /> Agreement will not prevent the County from asserting such rights and powers in its own <br /> behalf. <br /> 6. DISBURSEMENTS FOR PROJECT COSTS. <br /> All the proceeds to be made available to the County pursuant to the Financing <br /> Agreement are being paid to the County by the Bank as of the date of the initial execution <br /> and delivery of the Financing Agreement. The School Board will request funds from the <br /> County for the payment of Project Costs, and will provide the County with the necessary <br /> information supporting a requisition, such as an architect's payment certification. The <br /> County will have the right to obtain such additional evidence as it deems appropriate to <br /> determine the accuracy of the representations set forth in the form of requisition and the <br /> propriety of payment. The School Board will provide the County with such information <br /> in the School Board's possession as the County may request. <br /> 7. APPLICATION OF CASUALTY INSURANCE PROCEEDS. <br /> Notwithstanding any provision of this Agreement, the County retains the sole <br /> power to control and direct the application and distribution of proceeds of casualty <br /> insurance applicable to the Facilities, as provided in the Financing Agreement. <br /> 8. RESERVATION OF RIGHTS. <br /> This Agreement is not to be construed in any way as delegating or limiting the <br /> County's rights hereunder or under the Financing Agreement, except as expressly <br /> provided herein. <br /> 9. CONSIDERATION. <br /> The County and the School Board are undertaking their mutual obligations under <br /> this Agreement in partial consideration for, and in partial fulfillment of, their agreement <br /> to carry out the Project. <br /> [The remainder of this page has been left blank intentionally.] <br /> 3 <br />