Orange County NC Website
13 <br />f) Notwithstanding any pi°ovision of this Agreement, the County retains <br />the sole power to control and direct the application and distribution of pi°oceeds of <br />casualty insurance applicable to any Contract Property. <br />4. The County will reconvey property to the School Board when a Project <br />is complete <br />Upon the completion of any Project, the County will reconvey the subject <br />Contract Property to the School Board at the School Board's request. The School <br />Board shall make this request by the adoption of an appropriate resolution. The <br />School Board will delivei° a certified copy of the resohtion to the County. The <br />School Board will provide the County with an appropriate form of deed for <br />execution and delivery by the County to the School Board. <br />Notwithstanding the foregoing, the parties shall provide for all property <br />conveyed to the County pursuant to this Agreement to be reconveyed to the School <br />Board not later than December 31, 2025. <br />All provisions of this Agreement relating to the lease of Contract Property <br />shall terminate inm7ediately with respect to particulal° Conhact Property upon the <br />i°econveyance of such Contract Property to the School Board, without the need for <br />further action by any party. <br />5. Administrative and Miscellaneous P--ovisions <br />a) Representations, Covenants and Warranties, The County and the <br />School Board each represents, covenants and wan-ailts for the other's benefit as <br />follows: <br />(i) Neither the execution acid delivery of this Agreement, nor the <br />fiilfi11me3~rt of or compliance with its terms and conditions, nor the consunvnation of <br />the t°ansactions contemplated by this Agreement, results in a breach of the terms, <br />conditions and provisions of any agreement or instrument to which either is now a <br />party or by which either is bound, or constitites a default under any of the foregoing. <br />(ii) To the lmowledge of each party, there is no litigation or other court or <br />adminish•ative proceeding pending or tlu-eatened against such party (or against any <br />other person) affecting such party's rights to execute or deliver this Agreement or to <br />comply with its obligations timder this Agreement, Neither such party's execution <br />and delivery of this Agreement, nor its compliance with its obligations timder this <br />94432vt C~ <br />