Orange County NC Website
Browse       Search
10 <br /> portion of the Park that sits in Orange County equals $20,000 and the value <br /> of improvements made in Durham County equals $10,000, then Orange <br /> County will reimburse Durham County the amount of$5,000.) The value of said <br /> improvements shall be determined at the time of termination. <br /> iii) Grant Funds: The parties acknowledge that grant funding has and may be <br /> awarded to Durham and Orange counties for the development of the Park. <br /> Orange County administers said grants and shall continue to do so for the <br /> joint benefit of both counties. Upon termination, Durham County shall be <br /> reimbursed by Orange County in an amount equal to 50% of the total grant <br /> funds received, not yet expended and not subject to being returned to the <br /> granting authority, which have been planned for expenditure on amenities <br /> situated or to be situated in the Park. <br /> iv) This Agreement shall survive termination for the purposes of reconciliation <br /> or payment of any amount due and unpaid at the time of termination. <br /> IN WITNESS WHEREOF, the parties have caused this Interlocal Agreement to be executed as <br /> of the day and year first written above. <br /> 8 <br />