Orange County NC Website
39 <br /> intend, by the Transfer, to revive any easement across the Greene Tract for the benefit of the <br /> property known as the"Neville Tract." <br /> 2.03. Greene Tract (a) The Parties agree that neither the Transfer no <br /> any other provision of this Agreement shall or does effect any change in the status of the <br /> Qwnership of the Greene Tract <br /> (h) Carrboro, Chapel Hill and the County. as the current owners of the Greene <br /> Tract agree to bargain together in good faith and with all due diligenm and to use their <br /> respective best efforts. to determine an ultimate use or disposition of the Greene Tract <br /> before January 1.2003. During this period.no Party shall take any action to force any sale <br /> or division of the Greene Tract nor shall any PaM take any action to sell. mortgage or <br /> otherwise transfer all or any part of its ownership interest in the Greene Tract <br /> (c If the owners of the Greene Tract have not reached an agreement as to the <br /> ultimate use or disposition of the Greene Tract by January 1, 2000. then the County. for <br /> itself and as agent for the other owners. shall forthwith proceed to offer and sell all the <br /> Greene Tract in fee simple for cash to the higbest bidder therefore, in such manner as the <br /> County may determine in its reasonable discretion. <br /> (d) The County shall promlitly apply the proceeds of any sale made pure^ uant to <br /> subsection (c)above in the fo to ing m� saner: <br /> (i) First to pay the expenses of the sale: <br /> (ii) Second. to ^y to the Solid Waste System enterprise fund then <br /> maintained by the County pursuant to Section 5.04, the sum of,(g) 5608.823, being <br /> Qriginal purchase price of the Greene Tract plus (h) uncomTounded interest on such <br /> amount at the annual rate of 6% from March 30 1984 to the closing date of any sale: and <br /> (iii)_ Any remainder shall be distributed in the following pro ortionse <br /> (A) To Carrboro. 14%.: <br /> (B) jo Chapel Hill_43%: and <br /> (i) To the County.43%. <br /> 2.04. '-Liabilities. (ay Under the Transfer Agreement, the County shall assume all <br /> liabilities, including environmental liabilities, related to the ownership of the Solid Waste <br /> System, including, to the extent permitted by law, all liabilities related to the ownership of <br /> Existing System Assets which may have accrued prior to the Closing. <br /> (b) Under the Transfer Agreement, the Parties shall retain their individual liability, if <br /> any, under environmental laws and otherwise, related to their respective use of the Solid Waste <br />