Orange County NC Website
Browse       Search
egress, regress and access to operate, maintain, repair, and replace the water mains and <br /> appurtenant equipment related to the water system. <br /> 9. Recorded Declarations. Utility acknowledges that the Subdivision may be encumbered <br /> by a Declaration before or after Closing. Developer acknowledges that the Water Utility <br /> System property, and any other property owned by Utility in the Subdivision, will be exempt <br /> from all assessments, use restrictions, and architectural requirements under the Declaration. <br /> Utility agrees that should the well house facility require future reconstruction, maintenance, <br /> and repairs Utility shall use reasonable efforts to reconstruct the well house facility, if <br /> recoverable in rates, to its original style constructed as of the Closing Date. Developer shall <br /> insert into the Declarations, easement language in favor of Utility which shall allow Utility <br /> ingress, egress, regress, and access to operate, maintain, repair and replace the Water Utility <br /> System and appurtenant equipment located within the Subdivision property. Furthermore, <br /> Developer shall also include in the Declaration language describing the lot owner's <br /> responsibilities with respect to the Service Line serving the lot in accordance with the <br /> provisions of Paragraph 1.13 and 0 of this Agreement. <br /> 10. Conveyance of the Water Utility System. <br /> 10.1. Closing Date. Upon receipt of the Certificate described in Paragraph 0 of this <br /> Agreement and receipt of the last item described in this section 10 the Parties shall mutually <br /> agree upon a date for the transfer of the Assets and Deeded Property, which date shall not <br /> be more than thirty (30) days from the date of delivery of the last item described below. The <br /> effective time of the legal transfer hereunder shall be 12:01 a.m. on the day following the <br /> Closing Date. Upon Closing, Utility shall be deemed to be the beneficial owner of the Assets. <br /> Closing shall take place at the offices of Utility located at 202 MacKenan Court, Cary, North <br /> Carolina or, by telecopy or electronic mail exchange of documents with originals to follow by <br /> overnight delivery. Utility shall not provide water service to the Subdivision until Closing has <br /> occurred. At the time and on the terms described in this section 10 Developer shall convey <br /> to Utility at no cost to Utility, except as described in Paragraphs 0, 0, and 10.3 of this <br /> Agreement, by deed, easement, or bill of sale, as appropriate, the Assets and Deeded <br /> Property and all rights to operate the Water Utility System installed in accordance with the <br /> Water Plans approved by DEH and Utility. Said bill of sale shall be substantially similar in <br /> form and substance to that attached hereto as EXHIBIT 10.1. <br /> 10.2. DEEDS AND EASEMENTS FOR WATER SYSTEM. <br /> a. Well Lot Deed. In connection with the application to DEH, Developer agrees to <br /> convey by deed or easement to Utility each well lot that comprises a part of the <br /> 8 <br /> Dunhill Water Utility System <br /> Dunhill Agreement 061212.doc <br />