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Water Utility System <br /> Agreement <br /> STATE OF NORTH CAROLINA <br /> COUNTY OF ORANGE <br /> THIS AGREEMENT, made June _ 201w by and between DAVID WEEKELY HOMES, LLC, a North <br /> Carolina limited liability company (hereafter "Developer" as defined below) and AQUA NORTH <br /> CAROLINA, INC., a corporation, with its principal office in Cary, North Carolina, whose mailing address <br /> is 202 MacKenan Court, Cary, North Carolina 27511, (hereafter referred to as "Utility" as defined <br /> below); <br /> WITNESSETH: <br /> THAT WHEREAS, Developer is the owner of the certain lands off Mt. Sinai Road, Orange County, <br /> North Carolina, known as Dunhill Subdivision (defined below), and is further described in PIN 9881-15- <br /> 7138; and <br /> WHEREAS, Developer is desirous of installing in Subdivision a Water Utility System (defined <br /> below) to provide water utility service to all those persons now or hereafter owning lots in Subdivision <br /> and requiring water utility service; and <br /> WHEREAS, Developer has requested Utility to purchase, own, and operate said Water Utility <br /> System; and <br /> WHEREAS, Utility is agreeable to purchasing, owning, and operating the completed system; <br /> NOW, THEREFORE, for and in consideration of the premises and of the rights, powers and <br /> duties hereinafter set forth to be performed by each, Developer and Utility mutually do agree as <br /> follows: <br /> 1. Definitions. <br /> 1.1. "Agreement" shall mean this Agreement for the Installation, Conveyance, and <br /> Operation of the Water Utility System (defined below) or Water Utility System Phase serving <br /> Dunhill Subdivision, including all exhibits and schedules hereto, if any, as amended from time <br /> to time. <br /> 1.2. "Assets"shall mean shall mean the Water Utility System (defined below) relating <br /> to each Water Utility System Phase (defined below) which is necessary and proper to provide <br /> water utility service to the Subdivision. <br /> 1 <br /> Dunhill Water Utility System <br /> Dunhill Agreement 061212.doc <br />