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53 <br /> ARTICLE VI <br /> CONSIDERATION FOR LEASE <br /> 6.1. Use as School; Assumption of Obligations. In partial consideration for its <br /> acquisition of rights to use the Leased Property during the Lease Term, the School Board <br /> agrees to use the Leased Property for public education in fulfillment of its obligation, <br /> shared by the County, to provide for educational services in the County. In addition, in <br /> consideration of its rights under this Lease, the School Board undertakes the obligations <br /> imposed on it under this Lease, including those imposed by Section 7.1. <br /> 6.2. Payments. In partial consideration for its acquisition of rights to use the <br /> Leased Property during the Lease Term and its option to purchase the Leased Property, the <br /> School Board hereby agrees to pay to the County total rent for the Lease Term in the <br /> amount of Ten Dollars, payable in advance on the Closing Date, receipt of which the <br /> County hereby acknowledges. <br /> ARTICLE VII <br /> SCHOOL BOARD'S ASSUMPTION OF COUNTY'S OBLIGATIONS <br /> 7.1. Assumption of Obligations. (a) The School Board assumes the <br /> County's obligations under Financing Contract Sections 4.1 (care and use), 4.2 (utilities), <br /> 4.5 (compliance with requirements), 4.6(b) (regarding use and operation), 4.8 (payment of <br /> taxes and other governmental charges), 4.9(a) (property damage insurance), 5.2 (prevention <br /> of liens), 6.1 (regarding notice of damage, repair or replacement from Net Proceeds), and <br /> 7.2 (compliance with environmental laws). The parties agree that the School Board may <br /> fulfill its requirements to maintain insurance through pooled risk and similar programs <br /> sponsored by or affiliated with the North Carolina School Boards Association, such as the <br /> North Carolina School Boards Association Insurance Trust. [Note: all references to <br /> sections of the Financing Contract will be updated after that document is updated to reflect <br /> the terms of the financing proposal that the County accepts in mid-April.] <br /> (b) Notwithstanding the foregoing, the County retains its rights under Article VI <br /> of the Financing Contract to direct the use of Net Proceeds. All payments of Net Proceeds <br /> are to be made to the County. <br /> 7.2. Transfer of Rights. In order to allow the School Board to carry out its <br /> obligations under Section 7.1, the County transfers its rights under Section 4.7 of the <br /> Financing Contract (regarding maintenance, repairs and modifications of and to the Leased <br /> Property). Nothing in this Section, however, may be construed as in any way assigning or <br /> 5 <br />