Orange County NC Website
portion thereof}. If the County provides for any such alternative risk management <br />programs, the County's risk manager or an independent insurance consultant will <br />revie~~r such programs annually for sufficiency. The Trustee may rely on any such <br />certificate as to the sufficiency of any such alternative program. <br />(c) No County agent or employee will have the power to adjust or settle <br />any property damage loss greater than $1,000,000 with respect to the Pledged <br />Facility, whether or not cozTered by insurance, without the Trustee's prior written <br />consent. <br />(d) The Trustee will not be responsible for the sufficiency or adequacy of <br />any required insurance and will be fully protected in accepting payment on account <br />of such insurance or any adjustment, compromise or settlement of any loss agreed <br />to by the Trustee. <br />(e) The County will deliver to the Trustee annually by each Tune 30 a <br />certificate stating that the risk coverages required by this Contract are in effect. <br />ARTICLE V <br />TITLE; LIENS <br />5.1. Title. Title to the Pledged Site and the Pledged Facility and any <br />and all additions, repairs, replacements or modifications thereto will at all times be <br />in the County, subject to the lien of the Deed of Trust and to the Permitted <br />Encumbrances. Simultaneously with the execution and delivery of this Contract, <br />the County will deliver to the Company the Deed of Trust in fonll mutually <br />satisfactory to the Company and the County. <br />5.2. No Encumbrance, Mortgage or Pledge of Mortgaged Property. <br />(a) The County will not permit any mechanc's or other lien to be <br />perfected or remain against the Mortgaged Property or any portion thereof; <br />provided that subsequent to the Completion Date, if the County first notifies the <br />Trustee of the County's intention to do so, the County may in good faith contest <br />any mechanic's or other lien filed or perfected against the Mortgaged Property or <br />anyT portion thereof. In such e~Tent the County may permit the items so contested to <br />remain undischarged and unsatisfied during the period of such contest and any <br />appeal therefrom unless the Trustee notifies the County that, in the opinion of <br />Independent Counsel, by nonpayment of any such items the Company's title to the <br />Mortgaged Property or any portion thereof will be materially endangered, or will <br />be subject to loss or forfeiture, in which event the County will promptlSj pay and <br />93 361v2 11 <br />