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Agenda - 04-19-2016 - 7-a - Adoption of the Final Financing Resolution Authorizing the Issuance of $8,150,000 in Installment Purchase Financing for Various Capital Investment Plan Projects
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Agenda - 04-19-2016 - 7-a - Adoption of the Final Financing Resolution Authorizing the Issuance of $8,150,000 in Installment Purchase Financing for Various Capital Investment Plan Projects
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4/15/2016 9:26:09 AM
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BOCC
Date
4/19/2016
Meeting Type
Regular Meeting
Document Type
Agenda
Agenda Item
7a
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RES-2016-032 Resolution providing final approval of terms and documents for 2016 County installment financing
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\Board of County Commissioners\Resolutions\2010-2019\2016
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59 <br /> party, to the extent that such attorneys' fees and expenses may be determined to be <br /> reasonable by a court of competent jurisdiction. <br /> 11.6. Waiver of Appraisement, Valuation, Stay, Extension, and Redemption <br /> Laws. The School Board and the County agree, to the extent permitted by law, that upon a <br /> termination of the Lease Term by reason of an Event of Default, neither the School Board <br /> nor the County nor any one claiming through or under either of them will set up, claim or <br /> seek to take advantage of any appraisement, valuation, stay, extension or redemption laws <br /> now or hereafter in force in order to prevent or hinder the enforcement of the Financing <br /> Contract or of any remedy provided under this Lease or under the Financing Contract; and <br /> the School Board and the County, for themselves and all who may at any time claim <br /> through or under either of them, each hereby waives, to the full extent that it may lawfully <br /> do so, the benefit of such laws. <br /> ARTICLE XII <br /> MISCELLANEOUS <br /> 12.1. Notices. Any communication provided for in this Lease must be in writing. <br /> Any communication under this Lease will be considered given on the delivery date <br /> shown on a United States Postal Service certified mail receipt, or a delivery receipt (or <br /> similar evidence) from a national commercial package delivery service, if addressed as <br /> follows: <br /> (a) If intended for the County, addressed to it at the following address: Orange <br /> County, Attention: County Manager, Re: Notice under 2016 School Financing Lease — <br /> Grady Brown Project, Post Office Box 8181, Hillsborough,North Carolina 27278 <br /> (b) If intended for the School Board, to Superintendent, Chapel Hill - Carrboro <br /> Schools, Attention: Notice under 2016 School Financing Lease — Grady Brown Project, <br /> 200 East King St., Hillsborough, North Carolina 27278 <br /> 12.2. Binding Effect. This Lease will inure to the benefit of and be binding upon <br /> the School Board and the County, and their respective successors and assigns, subject, <br /> however, to the limitations contained in Article X. <br /> 12.3. Amendments, Changes and Modifications. This Lease may not be <br /> amended without the written consent of both parties. <br /> 12.4. Net Lease. This Lease will be deemed and construed to be a "net lease," and <br /> the School Board will pay absolutely net during the Lease Term all other payments <br /> required under this Lease, free of any deductions, and without abatement or set-off. <br /> 11 <br />
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