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10 <br /> G. The Parties will finance their respective shares of the Project costs according to <br /> Exhibit C —Elements of Value. The Town will arrange for construction financing of its <br /> proportional share of the Project costs (based on Exhibit C), subject to Local Government <br /> Commission approval of the financing plan.The County shall finance its proportionate share <br /> of the Project costs (based on Exhibit C) in such manner as may be determined by the <br /> County. The County shall reimburse the Town for the County's share of the construction <br /> costs for the Project within thirty (30) days or presentation by the Town to the Count of a <br /> written request for payment pursuant to a schedule of progress payments to be established <br /> by the respective Finance Officers for the Town and the County. <br /> H. The Town will contract with all necessary design, engineering and construction <br /> firms for any environmental remediation work related to the Property as <br /> required by NCDEQ. The Town is solely responsible for the cost of such <br /> environmental remediation work for remediation of any conditions existing on the <br /> Property prior to December 4, 2017. <br /> I. The Town will contract with professionals for the construction of the Project, <br /> using a legally permitted construction delivery method. Upon completion, the <br /> Facilities, including the Building and associated structured parking, may <br /> be subject to a new condominium declaration with terms mutually agreed upon <br /> by the Town and the County, pursuant to which the County will acquire a fee <br /> simple condominium interest in (i) the portion of the Building to be used as the <br /> Orange County Southern Branch Library and any other uses to which the County <br /> may put its portion of the Building and (ii)parking spaces required for such uses. <br /> J. The Town will enter into a construction contract for the work. <br /> K. No Changes. <br /> L. The Parties agree that the Town shall have the right in its sole discretion to lease, <br /> or subdivide and convey title to, those portions of the Property and any <br /> improvements thereon which are not conveyed to the County. <br /> M. As contemplated by this Agreement, upon completion of construction the building <br /> and parking facilities will be converted to condominium ownership, with the <br /> Town and the County each owning condominium interests in Building space and <br /> associated parking spaces (whether located in a parking structure or on the <br /> ground). As part of the condominium arrangement, the parties will also have an <br /> undivided interest in the Common Areas designated on the final plans, and which <br /> Common Areas will be subject to the rules, rights and responsibilities established <br /> in the condominium documents. The parties agree that the conversion of parking <br /> spaces in any parking improvement made as part of this Project to condominium <br /> ownership will include in the condominium documents language establishing <br /> appropriate easements for ingress, egress and access to and between the public <br /> right-of-way and all parking spaces and establishing rules and regulations <br /> concerning use, management and maintenance of parking spaces. The parties <br /> 4 <br />