Agenda - 06-24-2008-4v - Laserfiche WebLink

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5-6-08 Draft b) Assignments. This agreement is not assignable by either party without the written consent of the other. c) Notices. All notices provided for in this agreement shall be in writing, addressed to the respective county managers. d) Governing Law. This agreement shall be construed under the provisions of the law of the State of North Carolina. e) Good Farth. The parties mutually agree to deal in good faith one with the other in all respects in performing their duties under this Agreement. All actions recommended and implemented in the Plan will require joint approval by both Boards. 7. Entire Agreement. Except as otherwise provided in this Agreement, this Agreement contains the entire agreement between the parties. Amendments, if any, shall be in writing and signed by both parties. 8. Duration. This agreement shall be effective as of the above date and will expire June 30, 2011, unless terminated or extended as provided herein. Orange County and Durham County will discuss, prior to January 1, 2011, whether either county intends to assume or make other arrangements for operation of the Park upon the expiration of the original term of this Agreement or whether Orange County and Durham County desires to continue a contractual relationship for operation of the Park and upon what terms. In the event that this agreement has not been terminated, renewed or amended prior to the expiration date listed above, it will remain in effect until such time as both Boards have adopted a new agreement, but no longer than a 12 month period. Note: Previous language allowed ayear-to-year continuation. This language defines the term of the agreement with the expectation that further refinements may be desired in 2011. . 9. Termination. a) This agreement shall be subject to annual review and may be terminated at the end of the fiscal year upon one (1) year advance written notice by one party to the other party. b) Upon the expiration or termination of this Agreement, park amenities and the costs associated therewith will be distributed as follows: i) Real Property: The land shall continue to be owned as separate parcels with Orange County owning the 136 acres located in Orange County and Durham County owning the 255 acres located in Durham County. With respect to additional tract(s) acquired during the term of this Agreement and any extensions thereof, the additional tract(s) shall be owned in the manner acquired. ii) Costs of Improvements: The Counties agree to share equally in the value of the improvements made to the Park in the respective Counties; including but