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Agenda - 08-01-1977
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Agenda - 08-01-1977
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Last modified
5/12/2016 10:30:06 AM
Creation date
7/7/2015 10:51:13 AM
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BOCC
Date
8/1/1977
Meeting Type
Work Session
Document Type
Agenda
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Minutes - 19770801
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\Board of County Commissioners\Minutes - Approved\1970's\1977
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One Hundred One Thousand and Twenty-two and 49/100 <br /> Dollars ($1 )1,022. 49) within 15 days of the date of this <br /> judgment,as payment/ on unpaid accrued interest in full, with <br /> the princip 1 indebtedness of Four Hundred Thousand Dollars <br /> $400,000 an� interest at the rate of four per cent (4%) per <br /> annum accru .ng from and after the 7th day of November 1977, to <br /> be paid in i.xty (50) equal quarterly installments to be <br /> applied fi.r t to unpaid accrued interest and the balance to <br /> reduction of principal., with each of said equal quarterly <br /> installment) to be in the sun of Eight Thousand Eight Hundred <br /> Ninety-sever' and 78/100 Dollars ($8,897.78) the first of <br /> which quart rly installments -shall be paid on the 7th day of <br /> February, 1 78, with subsequent installments to be paid on May <br /> 7, 1978, Aucust 7, 1978, and November 7, 1978, and with <br /> quarterly i sta.11ments to continue to be made on the 7th day of <br /> each succeeding February, May, August and November thereafter <br /> to and incl ding the 7th day of November, 1993, at which time <br /> the entire Erincipal indebtedness and all accrued interest <br /> shall be du and payable in full, if not sooner paid. <br /> I IS FURTHER ORDERED, ADJUDGED AND DECREED that the <br /> Town of Mebane shall be entitled to the possession of the <br /> water and sewer improvements described and referred to in the <br /> petition an shall be entitled to the rents and tap tees and <br /> any other income therefrom so long as the Town of Mebane is in <br /> compliance "' th the terms of this judgment, and that upon <br /> final, paymen of all sums due hereunder title to the said <br />
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