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Agenda - 03-24-1992
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Agenda - 03-24-1992
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11/8/2017 3:21:39 PM
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BOCC
Date
3/24/1992
Meeting Type
Regular Meeting
Document Type
Agenda
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&F- 51wFf-3 <br />ADDENDUM TO IBM INSTALLMENT PAYMENT MASTER AGREEMENT <br />NUMBER 1635005 BETWEEN ORANGE COUNTY, NORTH CAROLINA <br />AND INTERNATIONAL BUSINESS MACHINES CORPORATION. <br />The- following clauses or portions of clauses in the <br />Installment Payment Master Agreement between Orange County and IBM <br />identified above replace or change as indicated clauses or portions <br />of that agreement. <br />Section 3.1 is replaced by the following: <br />3.1 YOUR OBLIGATION TO PAY <br />Subject to the non - appropriation clause below and the <br />limitation of remedies provided in Section 4.2 of this <br />Agreement, you will pay all amounts specified in the <br />Supplement. Your obligation to pay will continue <br />regardless of .any dispute you may have with respect to <br />the financed Products or Services. Payments will be made <br />through the IBM Branch Office unless we notify you <br />otherwise. <br />You agree that your budget officer will periodically <br />request the appropriation of funds to pay all Payment <br />Amounts specified in the Supplement. If the funds <br />requested for any future fiscal year are not appropamounts riated <br />by you, you will not be obligated to pay due <br />beyond the end of the last funded fiscal year. If this <br />happens, you agree to notify us in writing. Each <br />affected Transaction will end after the last funded <br />fiscal year and you will not be in default. You may <br />retain the Machines for a reasonable period of time and <br />at a monthly charge which we will determine. we will <br />then remove the Machines from your premises and retain <br />all sums paid as partial payment for their use and <br />depreciation. <br />Replace Section 4.2 with the following: <br />4.2 REMEDIES <br />If you are in default, we may do one or more of the <br />following: <br />1. declare the Transaction and all associated <br />Transactions to be in default; <br />2. recover from you all amounts that are due; provided, <br />however, no deficiency judgment may be rendered <br />against you in any action by us against you for your <br />
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