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consideration far its acquisition of rights to use the Leased Property during the Lease <br />Term, the School Board agrees to use the Leased Property for public education in <br />fulfillment of its obligation, shared by the County, to provide for educational <br />services in the Coun~r. In addition, in consideration of its rights under this Lease, <br />the School Board undertakes the obligations imposed on it under this Lease, <br />including those imposed by Section 7.1. <br />6.2. Payments. In partial consideration for its acquisition of rights to use <br />the Leased Property during the Lease Term and its option to purchase the Leased <br />Property, the School Board agrees to pay to the County total rent for the Lease Term <br />in the amount of Ten Dollars, payable in advance on the Closing Date, receipt of <br />which the County hereby acknowledges. <br />The County and the School Board acknowledge their understanding that <br />although the County's financing of the Leased Property, and providing it to the <br />School Board for use, is of substantial ~Talue to the School Board, anyT payment by <br />the School Board of a market value rent would not be a financially meaningful <br />transaction, because the School Board's funding is primarily provided through the <br />County. <br />ARTICLE VII <br />SCHOOL BOARD'S ASSUMPTION OF COUNTY'S OBLIGATIONS <br />7.1 Assumption of Obligations. (a} The School Board assumes the <br />County's obligations under [Financing Contract Sections 4.1 {care and use), 4.2 <br />(utilities}, 4.S (compliance ti~Tith requirements), 4.C (regarding use and operation), 4.8 <br />(payment of taxes and other governmental charges}, 4.9 (property damage <br />insurance), 5.2 {prevention of liens), and 6.1 (regarding notice of damage, repair or <br />replacement from Net Proceeds), as well as Deed of Trust Sections 3-2 {regarding <br />maintenance and repair) and 3-3 {regarding compliance with environmental lauTs}.] <br />The parties agree that the School Board may fulfill its requirements to maintain <br />insurance through pooled risk and similar programs sponsored by or affiliated with <br />the North Carolina School Boards Association, such as the North Carolina School <br />Boards Association Insurance Trust.. <br />(b) Notwithstanding the foregoing, the County retains its rights under <br />[Section 6.3] of the Financing Contract to direct the use of Net Proceeds to <br />