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v <br />r. NORTH CAROLINA <br />0 ORANGE COUNTY <br />AGREEMENT <br />M <br />This agreement is entered into by and between the Town of <br />Carrboro, a North Carolina municipal corporation located in <br />Orange County, (hereinafter "the Town ") and Southern <br />International Fireworks, Inc., a corporation organized under the <br />laws of South Carolina (hereinafter, "Southern "). <br />WHEREAS, the Town desires to continue its annual tradition <br />of presenting a fireworks display as part of its Fourth of July <br />celebration; and <br />WHEREAS, Southern is in the business of providing materials <br />and trained personnel to conduct such firework= displays; <br />NOW, THEREFORE, in consideration of the premises and the <br />mutual promises set forth herein, the parties agree as follows: <br />Section 1. Subject. to the remaining provisions of this <br />agreement, Southern shall furnish for and on behalf of the Town a <br />fireworks display at the Carrboro Town Hall on July 4, 1990, <br />beginning at approximately 9:30 p.m. <br />a) The amount and types of fireworks furnished by <br />Southern for this display shall be as described in Attachment A, <br />entitled "Proposal S.I.- 900130S ", which attachment is <br />incorporated herein by reference. "Also to include 70 shot Grand Finale." <br />b) Southern shall provide all equipment necessary to <br />conduct the fireworks display as well as trained and competent <br />personnel necessary to conduct this display. <br />c) Southern shall carry insurance in the minimum <br />amount of $1,000,000 covering its potential liability for <br />personal injuries or property damage arising out of the fireworks <br />display that is the subject of this agreement. A certificate of <br />insurance evidencing compliance with this requirement shall be <br />furnished to the Town within ten days after execution of this <br />agreement, and the Town's obligations under this agreement shall <br />be specifically contingent upon Southern's compliance with this <br />requirement. <br />Section 2. Subject to the remaining provisions of this <br />Agreement, the Town shall pay to Southern for the satisfactory <br />performance of its obligations under this agreement the sum of <br />two thousand, five hundred thirty six dollars ($2,536). <br />a) The Town shall pay to Southern fifty percent (50 %) <br />of the contract amount (i.e., a payment of $1,268) upon receipt <br />from Southern of (i) a fully - executed copy of this agreement, and <br />(ii) a copy of the certificate of liability insurance required <br />above. <br />