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2001 NS Housing - Impact Fee Reimbursement Agreement
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2001 NS Housing - Impact Fee Reimbursement Agreement
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Last modified
10/31/2012 9:23:00 AM
Creation date
10/15/2012 4:51:15 PM
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Template:
BOCC
Date
6/19/2001
Meeting Type
Regular Meeting
Document Type
Agreement
Agenda Item
8q
Document Relationships
Agenda - 06-19-2001-8q
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\Board of County Commissioners\BOCC Agendas\2000's\2001\Agenda - 06-19-2001
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14 <br /> 7.06 Payment of Costs and Attorney's Fees. If the County employs an attorney to <br /> assist in the enforcement or collection of Required Payments, or if the Deed of Trust Trustee or the <br /> County voluntarily or otherwise shall become a party or parties to any suit or legal proceeding <br /> (including a proceeding conducted under any state or federal bankruptcy or insolvency statute) to <br /> protect the Mortgaged Property, to protect the lien of this Agreement, to enforce collection of the <br /> Required Payments or to enforce compliance by the affordable housing owner with any of the <br /> provisions of this Agreement, the affordable housing owner agrees to pay reasonable attorneys' fees <br /> and all of the costs that may reasonably be incurred (whether or not any suit or proceeding is <br /> commenced), and such fees and costs (together with interest at an annual rate equal to 10%) shall <br /> be secured as Required Payments. <br /> ARTICLE VIII <br /> MISCELLANEOUS <br /> 8.01 Notices. (a) Any communication required or permitted by this Agreement must be <br /> in writing. <br /> (b) Any communication under this Agreement shall be sufficiently given and deemed <br /> given when delivered by hand or five days after being mailed by first-class mail, postage prepaid, <br /> addressed as follows: <br /> (i) if to the County, to Post Office Box 8181, Hillsborough, NC 27278, <br /> Attention: Finance Director; <br /> (ii) if to the Deed of Trust Trustee, to P.O. Drawer 1529, Hillsborough, North <br /> Carolina 27278; or <br /> (iii) if to the affordable housing owner, to - <br /> (c) Any communication to the Deed of Trust Trustee shall also be sent to the County. <br /> (d) Any addressee may designate additional or different addresses for communications <br /> by notice given under this Section to each of the others. <br /> 8.02 No Assignments by Affordable Housing Owner. The affordable housing owner <br /> shall not sell or assign any interest in this Agreement. <br /> 8.03 Assignments by County. The County may, at any time and from time to time, <br /> assign all or any part of its interest in the Site, the Facilities or this Agreement, including, without <br /> limitation, the County's rights to receive the Required Payments. Any assignment made by the <br /> County or any subsequent assignee shall not purport to convey any greater interest or rights than <br /> those held by the County pursuant to this Agreement. No assignment or reassignment of the <br /> County's interest in the Mortgaged Property or this Agreement shall be effective unless and until <br /> 14 <br />
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