Orange County NC Website
construed as in any way delegating to the Board of Education any of <br /> the County's rights or responsibilities to make decisions regarding <br /> the Board of Education's capital and operating budgets or otherwise <br /> covenanting that funds for such purposes will be appropriated or <br /> available. <br /> 8. 3 Board of Education's General Covenant. The Board of <br /> Education further undertakes not to take or omit to take any action <br /> the taking or omission of which would cause the County to be in <br /> default in any manner under the Installment Purchase Contract. In <br /> particular, the Board of Education covenants not to make any use of <br /> the Leased Property that would cause the County's obligations to <br /> make Installment Payments under the Installment Purchase Contract <br /> to be "private activity bonds" within the meaning of the Internal <br /> Revenue Code of 1986, as amended. If the Board of Education shall <br /> take or omit to take any such action, then the Board of Education <br /> shall proceed with all due diligence to take such action as may <br /> necessary to cure such default. <br /> 8 . 4 County's Cooperation. The County shall cooperate fully <br /> with the Board of Education in filing any proof of loss or taking <br /> any other action under this Lease. In no event shall the County or <br /> the Board of Education voluntarily settle, or consent to the , <br /> settlement of, any proceeding arising out of any insurance claim <br /> with respect to the Improvements without the other's written <br /> consent. <br /> 8. 5 Advances; Performance of Obligations. If the Board of <br /> Education shall fail to pay any amount required to be paid by it <br /> under this Lease, or fails to take any other action required of it <br /> under this Lease, then the County may (but shall be under no <br /> obligation to) pay such amount or perform such other obligation. <br /> The Board of Education agrees to reimburse the County for any such <br /> payment or for its costs incurred in connection with performing <br /> such other obligation. <br /> ARTICLE IX <br /> DISCLAIMER OF WARRANTIES; OTHER COVENANTS <br /> 9. 1- Disclaimer of Warranties. THE COUNTY MAKES NO WARRANTY <br /> OR REPRESENTATION, EITHER EXPRESS OR IMPLIED, AS TO THE VALUE, <br /> DESIGN, CONDITION, MERCHANTABILITY OR FITNESS FOR A PARTICULAR <br /> PURPOSE OR FITNESS FOR A PARTICULAR USE OF THE LEASED PROPERTY OR <br /> ANY PART THEREOF OR ANY OTHER REPRESENTATION OR WARRANTY WITH <br /> RESPECT TO THE LEASED PROPERTY OR ANY PART THEREOF. In no event <br /> shall the County be liable for any direct or indirect, incidental, <br /> special or consequential damage in connection with or arising out <br /> BWNY/133845.2/15880/00013/1537 December 14, 1994 7 <br />