Orange County NC Website
26 <br /> the document by which such assignment or reassignment is made disclosing the name and <br /> address of each such assignee. <br /> The County further agrees that the Lender's interest in this Contract may be <br /> assigned in whole or in part upon terms which provide in effect that the assignor or assignee <br /> will act as a collection and paying agent for any holders of certificates of participation in <br /> this Contract, provided the County receives a copy of such agency contract and such <br /> collection and paying agent covenants and agrees to maintain for the full remaining term of <br /> this Contract a written record of each assignment and reassignment of such certificates of <br /> participation. <br /> The Lender covenants that any disclosure document circulated by it or an assignee <br /> in connection with the sale of the Lender's rights under this Contract will contain a <br /> statement to the effect that the County has not reviewed and is not responsible for the dis- <br /> closure document. The Lender covenants to defend, indemnify and hold harmless the <br /> County and its officers, employees and agents against any and losses, claims, damages or <br /> liabilities, joint or several, including fees and expenses incurred in connection therewith, <br /> to which such indemnified party may become subject on account of any statement in- <br /> cluded in a disclosure document, or that fails to be included in a disclosure document, un- <br /> less the County has expressly approved the use of such disclosure document. <br /> The County agrees to execute any document reasonably required in connection with <br /> any assignment. Any assignor must provide notice of any assignment to the County, and <br /> the County will keep a complete and accurate record of all assignments as required by the <br /> Code. After the giving of any such notice, the County will thereafter make all payments in <br /> accordance with the notice to the assignee named therein and will, if so requested, <br /> acknowledge such assignment in writing, but such acknowledgment will in no way be <br /> deemed necessary to make the assignment effective. <br /> Notwithstanding any of the foregoing, in no event will the County ever be required <br /> to make Installment Payments to more than one person or entity on any payment date. <br /> ARTICLE XII <br /> COUNTY'S LIMITED OBLIGATION <br /> Notwithstanding any other provision of this Contract, the parties intend that this <br /> transaction comply with North Carolina General Statutes Section 160A-20. No deficiency <br /> judgment may be entered against the County in violation of such Section 160A-20. <br /> No provision of this Contract should be construed or interpreted as creating a <br /> pledge of the County's faith and credit within the meaning of any constitutional debt limi- <br /> tation. No provision of this Contract should be construed or interpreted as an illegal dele- <br /> gation of governmental powers or as an improper donation or lending of the County's <br /> credit within the meaning of the North Carolina constitution. The County's taxing power <br /> 19 <br />