Orange County NC Website
year the aforesaid substantial decline continues the County may declare an Abandonment of <br /> Operations and proceed as set forth herein. <br /> C. NATURAL: In any event, the above terms notwithstanding,this Agreement shall <br /> terminate upon the 3 1"day of January of the year in which the final financial inducement <br /> installment is made. <br /> 12. LIMITATION OF COUNTY'S OBLIGATION <br /> NO PROVISION OF THIS AGREEMENT SHALL BE CONSTRUED OR <br /> INTERPRETED AS CREATING A PLEDGE OF THE FAITH AND CREDIT OF <br /> THE COUNTY WITHIN THE MEANING OF ANY CONSTITUTIONAL DEBT <br /> LIMITATION. NO PROVISION OF THIS AGREEMENT SHALL BE <br /> CONSTRUED OR INTERPRETED AS DELEGATING GOVERNMENTAL POWERS <br /> NOR AS A DONATION OR A LENDING OF THE CREDIT OF THE COUNTY <br /> WITHIN THE MEANING OF THE STATE CONSTITUTION. THIS <br /> AGREEMENT SHALL NOT DIRECTLY OR INDIRECTLY OR CONTINGENTLY <br /> OBLIGATE THE COUNTY TO MAKE ANY PAYMENTS BEYOND THOSE <br /> APPROPRIATED IN THE COUNTY'S SOLE DISCRETION FOR ANY FISCAL <br /> YEAR IN WHICH THIS AGREEMENT SHALL BE IN EFFECT. NO PROVISION <br /> OF THIS AGREEMENT SHALL BE CONSTRUED TO PLEDGE OR TO CREATE A <br /> LIEN ON ANY CLASS OR SOURCE OF THE COUNTY'S MONEYS,NOR SHALL <br /> ANY PROVISION OF THE AGREEMENT RESTRICT TO ANY EXTENT <br /> PROHIBITED BY LAW,ANY ACTION OR RIGHT OF ACTION ON THE PART <br /> OF ANY FUTURE COUNTY GOVERNING BODY. TO THE EXTENT OF ANY <br /> CONFLICT BETWEEN THIS ARTICLE AND ANY OTHER PROVISION OF THIS <br /> AGREEMENT,THIS ARTICLE SHALL CONTROL. <br /> 13. LIABILITY OF PUBLIC OFFICERS <br /> No officer, agent or employee of the County or the Company shall be subject to any personal <br /> Liability or accountability by reason of the execution of this Agreement or any other <br /> documents related to the transactions contemplated hereby. Such officers, agents, or <br /> employees shall be deemed to execute such documents in their official capacities only, and <br /> not in their individual capacities, This Section shall not relieve any such officer, agent or <br /> employee from the performance of any official duty provided by law. <br /> 14. MISCELLANEOUS <br /> A. ENTIRE AGREEMENT: This Agreement, including all exhibits attached, constitutes the <br /> entire contract between the parties, and this Agreement shall not be amended except in <br /> writing signed by the Parties. <br /> B. BINDING EFFECT: Subject to the specific provisions of this Agreement,this <br /> Agreement shall be binding upon and inure to the benefit of and be enforceable by the <br /> Parties and their respective successors and assigns. <br /> C. TIME: Time is of the essence in this Agreement and each and all of its provisions. <br /> Page 8 of 12 <br />