Orange County NC Website
2 . RESPONSIBILITIES OF TOWN <br /> a . The Town is responsible for and shall reimburse the County fifty percent (50 % ) <br /> of the total inducement grant paid to Wegmans by County . The total amount of <br /> such reimbursement paid by Town shall not exceed two million dollars <br /> ( $ 22000 , 000 . 00) . <br /> b . Town shall pay its inducement grant reimbursement in annual installments <br /> within thirty ( 30 ) days of receipt of the County ' s invoice . <br /> 3 . RESPONSIBILITIES OF COUNTY <br /> a . The County is responsible for direct payment of the inducement grant to <br /> Wegmans . The total amount of the inducement grant shall not exceed four <br /> million dollars ( $4 , 000 , 000 . 00 ) and shall be paid in annual installments and <br /> subject to the terms and conditions of the Inducement Grant Agreement <br /> between County and Wegmans , dated November 1 , 2016 . <br /> b . Upon County ' s payment of its annual inducement grant installment to <br /> Wegmans the County shall invoice Town for the fifty percent (50 % ) <br /> reimbursement amount . This annual invoice will be in the form of a single <br /> invoice for the full fifty percent ( 50 % ) installment amount . <br /> 4 . REMEDIES <br /> a . Should County for any reason permanently discontinue paying Wegmans the <br /> agreed upon inducement grant prior to the natural expiration of the Inducement <br /> Grant Agreement Town may , without penalty , discontinue reimbursing County <br /> for such inducement grant ; provided , however , that all reimbursements due <br /> County up to and including the date of County ' s discontinuance of payments to <br /> Wegmans shall be fully reimbursed by Town to County . <br /> b . Should Town for any reason discontinue reimbursing County the agreed upon <br /> inducement grant reimbursement prior to the natural expiration of the <br /> Inducement Grant Agreement between County and Wegmans , Town , through <br /> execution of this Agreement , authorizes County to collect and withhold from <br /> Town any real and personal property tax revenues due to Town , and paid by <br /> Wegmans , in an amount equal to the full reimbursement amount owed to <br /> County by Town pursuant to this Agreement . By execution of this Agreement <br /> Town grants to County all such real and personal property tax revenues for <br /> deposit in County ' s general fund and disclaims and releases any and all right <br /> to , claim , or interest in such tax revenues . <br /> 5 . ENTIRE AGREEMENT <br /> This Agreement constitutes the entire Agreement of the Parties hereto regarding <br /> reimbursement by Town to County for the inducement grant paid to Wegmans by <br /> County . <br />