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Agenda - 05-15-1990 (2)
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Agenda - 05-15-1990 (2)
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Last modified
11/1/2017 12:27:48 PM
Creation date
11/1/2017 12:13:24 PM
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BOCC
Date
5/15/1990
Meeting Type
Public Hearing
Document Type
Agenda
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the assignment of Lessor's interest in the Equipment or in this <br />Agreement, and shall survive the termination of this Agreement. <br />The executed copy of the ASSIGNMENT OF RIGHT TO SELL AND TRANSFER <br />OF TITLE dated ,gust. 2 Igoo between Lessor and the vendor of <br />the Equipment, which is Exhibit A to this Addendum, is <br />incorporated herein by reference. <br />(3) LESSEE'S RIGHT TO TERMINATE: Lessee may at the end of <br />any Fiscal Year terminate all of its obligations under this <br />Agreement if Lessee's governing board has not appropriated <br />sufficient funds to make the next Fiscal Year's scheduled payment <br />of Rent. Such termination shall be accomplished by sending <br />written notice-of the termination to Lessor at the address <br />specified in Section 17 of this Agreement no later than 10 days <br />after the last day of said Fiscal Year. If Lessee elects to <br />terminate the Agreement pursuant to this paragraph, it shall <br />deliver the Equipment at its own expense, to any point within the <br />State of North Carolina designated by Lessor and shall pay Rent <br />to Lessor, on a pro rata basis according to the Supplementary <br />Schedule, until the Equipment is delivered to Lessor at the <br />location within North Carolina designated by Lessor. Lessor <br />shall, upon receipt of a termination notice from Lessee pursuant <br />to this paragraph, notify Lessee in writing at the address <br />specified in Section 17 of this Agreement, the designated North <br />Carolina delivery point for the Equipment. <br />(4) LESSEE'S EFFORTS TO APPROPRIATE FUNDS: During each <br />Fiscal Year Lessee shall exercise its best efforts to appropriate <br />funds for Rent due in the next Fiscal Year under this Agreement. <br />K <br />
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