Orange County NC Website
Browse       Search
2-6 Advances for Performance of County's Obligations. If the County <br />fails to perform any of its obligations under the Documents, the Deed of Trust <br />Trustee and the Company are authorized, but not obligated, to perform or cause to <br />be performed such obligation. All such expenditL~res, together with interest thereon <br />at the rate of 8.00°lo per year, are secured as Obligations under this Deed of Trust. <br />3. County's Other Covenants <br />3-1 Title Covenants. The County co~Tenants with the Deed of Trust <br />Trustee and the Company that the County is seized of and has the right to convey <br />the Mortgaged Property in fee simple, that the Mortgaged Property is free and clear <br />of all liens and encumbrances other than Existing Encumbrances, that title to the <br />Mortgaged Property is marketable, and that the County u~•ill forever warrant and <br />defend title to the Mortgaged Property (subject to the Permitted Encumbrances, as <br />defined in the Financing Contract} against the claims of all persons. <br />3-2 Maintenance and Repairs; Additions and Demolition. <br />(a) The County uTill keep the Mortgaged Property in good order and <br />repair (reasonable wear and tear excepted) and in good operating condition, will <br />not commit or permit any waste or any other thing to occur whereby the value or <br />usefulness of the Mortgaged Property might be impaired, and will make from time <br />to time all necessary or appropriate repairs. <br />(b} The County from time to time may make any additions, modifications <br />or improvements to the Mortgaged Property that it may deem desirable and that do <br />not materially decrease the value of the Mortgaged Property. All such additions, <br />modifications and improvements within the boundaries of the Pledged Site will <br />become a part of the Mortgaged Property. The County v~Till do, or cause to be done, <br />all such things as may be required by lauT in order fully to protect the Company's <br />SCCllrlty. <br />3-3 Environmental Representations, Warranties, Covenants and <br />Indemnification. <br />(a} The County warrants and represents as folloti~Ts: <br />(i) The County has no knou~•ledge and, after reasonable inquiry, no <br />reason to believe (A) that any industrial use has been made of the Mortgaged <br />Property, (B) that the Mortgaged Property has been used for the storage, <br />treatment or disposal of chemicals or any wastes or materials that are <br />9336Uv3 g <br />