Agenda - 10-04-1993 - VIII-A - Laserfiche WebLink

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qtr = 1 • )L r try r�� n i l .1 �l v ��a �1c . .o z ARTICLE Ix Covenants. Represent tioss, and nties Warra Section 9.01 - Qvcnants. Itopresentations. and-WWrrranties of the County. The County hereby covenants, represents, and warrants as follows: (i) The County will maintain its existence, and, in the event of reorganization, this Agreement will be binding upon any successors or assigns; (ii) The County will comply in all material respects with the terms and conditions of the laws of North Carolina respecting budgeting and appropriations and will take whatever action is necessary to assure the proper and continued receipt and expenditure of monies thereunder (iii) The County will execute and deliver all such further instruments and take all such further action as may be required to carry out the purposes of this Agreement; (iv) Neither the execution and delivery hereof, nor the fulfillment of or compliance with the terms and conditions hereof, nor the consummation of the transactions contemplated hereby, conflicts with or results in breach of the terms,conditions, and provisions of any restriction or agreement or instrument to which the County is now a party or by which the County is bound, or constitutes a default under any of the foregoing; (v) No controversy, budget protest, or litigation is pending or threatened involving the incorporation, organization, existence, or boundaries of the County, or the titles of its officers to their respective positions, or the validity of the adopted budget, or the power and duty of the County to provide and apply adequate ad valorem tax receipts and other general fund receipts in accordance with its adopted budget for the current fiscal year; and further there is no action, suit, proceeding, inquiry, or investigation at law or in equity or before or by any public board or body pending or, to its knowledge, any basis therefor, wherein an unfavorable decision, ruling or finding would adversely affect the transactions contemplated by this Agreement. The County will immediately notify TYHA if any such controversy or litigation is filed or threatened during the term of this Agreement; and (vi) As of the date of execution hereof the County is not currently in default in any material respect on any other obligation. Section 9.02-Commis, •tepresentatio ts, and Warranties o f YHA. TYHA represents, covenants, and warrants for the benefit of the County as follows: (i) TY}IA is a nonprofit corporation duly created, existing, and in good standing under the laws of'North Carolina, is duly qualified to do business in North Carolina, has all 5