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NORTH CAROLINA TOWN OF HILLSBOROUGH <br /> ORANGE COUNTY WATER/SEWER EXTENSION CONTRACT <br /> THIS CONTRACT is entered into this 24th day of August , <br /> 1988 , by and between Orange County, North Carolina (hereinafter <br /> the "County" ) and the Town of Hillsborough, a North Carolina <br /> municipal corporation (hereinafter the "Town" ) : <br /> WHEREAS, the County proposes to extend the Town water and <br /> sewer system to serve the Rencher Street Area, north of the Town <br /> (hereinafter the "Project" ) ; and <br /> WHEREAS , the County has agreed to pay certain costs <br /> associated with the proposed extension; and <br /> WHEREAS , at its meeting held April 11 , 1988 , the <br /> Hillsborough Board of Commissioners authorized the proposed <br /> extension subject to execution of this agreement and compliance <br /> with its terms ; and <br /> WHEREAS, the Project will only be undertaken by. the County <br /> if it is the recipient of the Fiscal Year 1988 Community <br /> Development Block Grant for the Project (the "Grant" ) from the <br /> North Carolina Department of Natural Resources and Community <br /> Development for which it expects to apply; and <br /> WHEREAS, the Town and the County agree that this contract <br /> and its provisions place no obligation on either party unless the <br /> Grant is awarded to the County; <br /> a <br /> NOW, THEREFORE, the County and the Town, and the heirs, <br /> successors , and assigns of each of them agree : <br /> 1 <br />