Orange County NC Website
27 <br /> subject to all the terms and conditions of this Contract and <br /> included in the term "Property" as used in this Contract . <br /> 5 .2 Inspection. The Lender shall have the right upon <br /> reasonable prior notice to the County to enter into and upon and <br /> inspect the Property during normal business hours . <br /> 5 .3 Utilities . The County shall pay all charges for gas, <br /> water, steam, electricity, light, heat or power, telephone or other <br /> utility service furnished to or used on or in connection with the <br /> Property. There shall be no abatement of the Installment Payments <br /> on account of interruption of any such services. <br /> 5.4 Taxes. The County agrees to pay when due any and all <br /> taxes relating to the Property and the County' s obligations <br /> hereunder, including but not limited to, all license or <br /> registration fees, gross receipts tax, sales and use tax, if <br /> applicable, license fees, documentary stamp taxes, rental taxes, <br /> assessments, charges, ad valorem taxes, excise taxes, and all other <br /> taxes, licenses and charges imposed on the ownership, possession or <br /> use of the Property by any governmental body or agency, together <br /> with any interest and penalties, other than taxes on or measured by <br /> the net income of the Lender.' <br /> 5 .5 Alterations. Without the prior written consent of the <br /> Lender, which consent shall not be unreasonably withheld, the <br /> County shall not make any alterations, modifications or attachments <br /> to the Property which cannot be removed without materially damaging <br /> the economic value of the Property. <br /> 5 . 6 Insurance. The County shall maintain at its sole cost <br /> and expense insurance on the Property, covering such risks and in <br /> such amounts and with such deductibles as are described in Exhibit <br /> C attached hereto and incorporated herein by reference, with such <br /> insurance companies as shall be satisfactory to the Lender. All <br /> insurance for loss or damage shall name the Lender as an additional <br /> insured and shall provide that losses, if any, shall be payable to <br /> the County and the Lender, as their interests may appear. Evidence <br /> or certificates of all required insurance shall be provided to the <br /> Lender. The County shall pay the premiums therefor and deliver to <br /> the Lender the policies of insurance or duplicates thereof or other <br /> evidence satisfactory to the Lender of such insurance coverage. <br /> Each insurer shall also agree by endorsement upon the policy or <br /> policies issued by it that (a) it will give thirty (30) days prior <br /> written notice to the Lender of cancellation, non-renewal or <br /> material modification of such policy, and (b) the coverage of the <br /> Lender shall not be terminated, reduced or affected in any manner, <br /> regardless of any breach or violation by the County of any <br /> warranties, declarations or conditions of such insurance policy or <br /> policies . The proceeds of such insurance, at the option of Lender, <br /> shall be applied (a) toward the replacement, restoration or repair <br /> 6 <br />