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11.2 Assignment By the Lender. The Lender may, at any time <br /> and from time to time, assign all or any part of its interest in <br /> the Project or this Contract, including without limitation, the <br /> Lender' s rights to receive the Installment Payments and any <br /> additional payments due and to become due hereunder. <br /> Any assignment made pursuant to this subsection shall be made <br /> in accordance with all applicable federal and state securities and <br /> other laws. In addition, any assignment by any party to an entity <br /> other than a bank, insurance company, investment company or similar <br /> financial institution shall be subject to the prior approval of the <br /> North Carolina Local Government Commission. <br /> The County agrees that this Contract may become part of a pool <br /> of obligations at the Lender' s or its assignee' s option. The <br /> Lender or its assignees may assign or reassign either the entire <br /> pool or any partial interest herein. Notwithstanding the <br /> foregoing, no assignment or reassignment of the Lender's interest <br /> in the Project or this Contract shall be effective unless and until <br /> the County shall receive a duplicate original counterpart of the <br /> document by which such assignment or reassignment is made <br /> disclosing the name and address of each such assignee. The County <br /> covenants and agrees with the Lender and each subsequent assignee <br /> of the Lender to maintain for the full term of this Contract a <br /> written record of each such assignment or reassignment. <br /> After the giving of notice described above to the County, the <br /> County shall thereafter make all payments in accordance with the <br /> notice to the assignee named therein and shall, if so requested, <br /> acknowledge such assignment in writing but such acknowledgement <br /> shall in no way be deemed necessary to make the assignment <br /> effective. <br /> SECTION 12 . . LIMITED OBLIGATION OF THE COUNTY. <br /> NO PROVISION OF THIS CONTRACT SHALL BE CONSTRUED OR <br /> INTERPRETED AS CREATING A PLEDGE OF THE FAITH AND CREDIT OF THE <br /> COUNTY WITHIN THE MEANING OF ANY CONSTITUTIONAL DEBT LIMITATION. <br /> NO PROVISION OF THIS CONTRACT SHALL BE CONSTRUED OR INTERPRETED AS <br /> CREATING A DELEGATION OF GOVERNMENTAL POWERS NOR AS A DONATION BY <br /> OR A LENDING OF THE CREDIT OF THE COUNTY WITHIN THE MEANING OF THE <br /> CONSTITUTION OF THE STATE OF NORTH CAROLINA. THIS CONTRACT SHALL <br /> NOT DIRECTLY OR INDIRECTLY OR CONTINGENTLY OBLIGATE THE COUNTY TO <br /> MARE ANY PAYMENTS BEYOND THOSE APPROPRIATED IN THE SOLE DISCRETION <br /> OF THE COUNTY FOR ANY FISCAL YEAR IN WHICH THIS CONTRACT SHALL BE <br /> IN EFFECT. NO DEFICIENCY JUDGMENT MAY BE RENDERED AGAINST THE <br /> COUNTY IN ANY ACTION FOR BREACH OF A CONTRACTUAL OBLIGATION UNDER <br /> THIS CONTRACT AND THE TAXING POWER OF THE COUNTY IS NOT AND MAY NOT <br /> BE PLEDGED DIRECTLY OR INDIRECTLY OR CONTINGENTLY TO SECURE ANY <br /> MONEYS DUE UNDER THIS CONTRACT. <br /> 18 <br />