Orange County NC Website
Browse       Search
5-6-08 Draft <br /> <br />not limited to picnic shelters, campsite facilities, restroom structures, and the <br />park caretaker residence. (For example, if the value of the improvements <br />made to the portion of the Park which sits in Orange County equals $20,000 <br />and the value of improvements made in Durham County equals $10,000, <br />then Orange County will reimburse Durham County the set off amount of <br />$5,000.) The value of said improvements shall be determined at the time of <br />termination. <br />iii) Grant Funds: The parties acknowledge that grant funding has and may be <br />awarded to Durham and Orange Counties for the development of the Park. <br />Orange County administers said grants and shall continue to do so for the <br />joint benefit of the Counties. Upon termination, Durham County shall be <br />reimbursed by Orange County in an amount equal to 50% of the total grant <br />funds received, not yet expended and not subject to being returned to the <br />granting authority, which have been planned for expenditure on amenities <br />situated or to be situated in the Park. <br />iv) This Agreement shall survive termination for the purposes of reconciliation <br />or payment of any amount due and unpaid at the time of termination. <br />