Orange County NC Website
Browse       Search
in Durham and Orange, including funds collected pursuant to N.C.G.S. Chapter 105, <br /> Articles 43, 50, 51, and 52. <br /> 19. The term of this Agreement shall continue until the latter of June 30, 2037 or the final <br /> maturity date of any debt issued in connection with the D-O LRT Project and payable from <br /> the Dedicated Local Transit Revenues. <br /> 20. This Agreement may be terminated upon mutual agreement of the Parties. In the event <br /> of termination prior to the expiration of the term set forth in Paragraph 19 or of any <br /> extensions thereto, the Parties shall determine what obligations remain and how to <br /> equitably distribute such obligations as they relate to the D-O LRT Project. <br /> 21. To be effective, any amendment, change, correction, extension, or termination of this <br /> Agreement shall be in the form of a written instrument approved by the governing board <br /> of each Party. <br /> 22. This Agreement shall be governed by and in accordance with the laws of the State of <br /> North Carolina. Except as to those matters subject to arbitration under Paragraph 15,the <br /> Parties agree that all actions relating in any way to this Agreement shall be brought in the <br /> General Court of Justice in the County of Wake, North Carolina. <br /> 23. Except to the extent provided otherwise in this Agreement,the Orange County Manager <br /> shall designate persons to carry out Orange's obligations under this Agreement, the <br /> Durham County Manager shall designate persons to carry out Durham's obligations under <br /> this Agreement, and the General Manager of GoTriangle shall designate persons to carry <br /> out GoTriangle's obligations under this Agreement. <br /> 24. All equipment, improvements, and interests in real property acquired under this <br /> Agreement shall be the property of GoTriangle or another entity under separate <br /> agreement and shall be subject to disposition as required under applicable law. <br /> 25. This Agreement is entered into by the Parties for their purposes only and does not confer <br /> any rights, benefits, remedies,or privileges on any other person or entity. <br /> 26. If any provision of this Agreement is determined to be unenforceable by a court of <br /> competent jurisdiction, such determination shall not affect any other provision of this <br /> Agreement. <br /> 27. Pursuant to N.C.G.S. § 147-86.59, any person identified as engaging in investment <br /> activities in Iran, determined by appearing on the Final Divestment List created by the <br /> State Treasurer pursuant to N.C.G.S. § 147-86.58, is ineligible to contract with the State <br /> of North Carolina or any political subdivision of the State.The Iran Divestment Act of 2015, <br /> N.C.G.S. § 147-86.55 et seq., requires the contracting party to certify that it meets the <br /> requirements of the Iran Divestment Act. By execution of this Agreement, each Party <br /> certifies that it is not on the Final Divestment List of entities that the State Treasurer has <br /> determined engages in investment activities in Iran, and that it shall not utilize in <br /> 7 <br />