Browse
Search
Agenda - 03-02-2006-8bLC
OrangeCountyNC
>
Board of County Commissioners
>
BOCC Agendas
>
2000's
>
2006
>
Agenda - 03-02-2006
>
Agenda - 03-02-2006-8bLC
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
9/2/2008 1:42:23 AM
Creation date
8/29/2008 9:12:04 AM
Metadata
Fields
Template:
BOCC
Date
3/2/2006
Document Type
Agenda
Agenda Item
8bLC
Document Relationships
Minutes - 20060302
(Linked To)
Path:
\Board of County Commissioners\Minutes - Approved\2000's\2006
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
20
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
fully in any legal action in which the School Board asserts its right to such <br />possession and enjoyment, or which involves the imposition of any taxes or other <br />governmental charges on or in connection with the Leased Property. In addition, the <br />School Board ma~T at its ou~~n expense join in an~T legal action affecting its possession <br />and enjoyment of the Leased Property and will be joined (to the extent legally <br />possible, and at the School Board's expense) in any action affecting its liabilities <br />under this Lease. <br />The provisions of this Article are subject to rights to inspect the Leased <br />Property granted to parties under the Financing Contract. <br />5.2. Purchase Option. The School Board has the option to purchase the <br />Leased Property, u1 uThole but not in part, at any time during the 9~-day period <br />beginning upon the date the Financing Contract terminates {other than a termination <br />following an Event of Default under the Financing Contract or a termination in <br />connection ~~Tith the County's refmancing its obligations under the Financing <br />Contract; i11 either case, the School Board has no purchase option) upon payment to <br />the County of a purchase option price of Ten Dollars. <br />The County must notify the School Board of the beginning of the option <br />period, and the option period will be deemed to begin upon the date the notice is <br />deemed given pursuant to Section 12.1. The School Board must notify the County <br />of its exercising of this option during the 90-day option period. Within 4~ days of <br />the receipt of such notice from the School Board, the County will execute and <br />deliver all necessary documents conveying to the School Board goad and <br />marketable title to the Leased Property, subject only to (i} Permitted Encumbrances <br />and (ii) any encumbrance or imperfection caused by or attributable to the School <br />Board. <br />The School Board's purchase option as described in this Section is <br />subordinate to the rights of the beneficiary under the Deed of Trust, as <br />described in Section 3.2. <br />ARTICLE VI <br />CONSIDERATION FOR LEASE <br />6.1. Use as Middle School; Assumption of Obligations. In partial <br />~3s6s~ <br />
The URL can be used to link to this page
Your browser does not support the video tag.