Orange County NC Website
Browse       Search
in good faith the fair and equitable share of all costs associated with this project as <br />soon as possible after the Schematic Design work is completed. If the parties are <br />unable to come to an agreement within forty five (45) days after the Schematic <br />Design Acceptance date (such date of completion to be established by written <br />notice to the parties from the design professional) then either party may terminate <br />this agreement by providing ten (10) days advance written notice to the other <br />party of its intention to terminate this agreement. Upon such termination, each <br />party shall be responsible for all costs it has incurred in connection with this <br />project through the date of termination. <br />B. The County shall pay the cost for the amount of parking deemed required to <br />support the library facility within the total cost of constructing parking on the <br />Property. The Town shall be responsible for the balance of the cost of <br />constructing the parking for the Project. The intent is for the County to pay the <br />cost for the parking spaces reasonably expected and determined to be associated <br />with the Orange County Southern Branch Library use. Upon completion of the <br />work and when the Facilities become operational, the County agrees that the <br />parking spaces allocated for the Orange County Southern Branch Library use of <br />the Property shall be available for public parking during hours when the library is <br />closed. <br />C. The parties will each be responsible for their own legal and financing expenses <br />incurred in relation to the Project. <br />ARTICLE V <br />Term And Termination <br />This Agreement shall be effective upon the full execution of the Contracts and shall <br />continue until completion of the Project unless earlier terminated as provided herein. <br />This A g r e e in e n t shall terminate: (i) at any time by either party within forty five (45) <br />days after the design professional has confirmed to the parties in writing that the Schematic <br />Design for the building and parking deck on the Property is substantially completed as set forth <br />in Article IV.A above, (ii) at any other time by mutual agreement of the Parties; or (iii) <br />by the Town, upon the material breach by County of any provision contained herein which <br />material breach remains uncured by County after the Town provides thirty (30) days advance <br />written notice of said material breach to County, or (iv) by County, upon the material breach <br />by the Town of any provision contained herein which material breach remains uncured by the <br />Town after County provides thirty (30) days advance written notice of said material breach to <br />the Town. <br />ARTICLE VI <br />Conditions Precedent And Contingencies <br />The Parties understand and agree that there are a number of conditions precedent and <br />contingencies that will impact their ability to enter into the Contracts for the Project. At a <br />0 <br />