Orange County NC Website
Browse       Search
22 <br /> (b) PFPC shall , within ninety ( 90) days of the date of this Agreement and at least <br /> yearly thereafter, review the insurance carried by the County and PFPC covering the Facility or <br /> any of PFPC ' s or the County' s operations at the Facility, or required of third parties using the <br /> Facility, with regard to PFPC ' s experiences at other similar facilities , and shall within fifteen ( 15 ) <br /> days of such review advise the County in writing of the results of its review and of any changes , <br /> additions or increases to the insurance requirements hereunder or applicable to third parties <br /> which are advisable under best facility management practices . <br /> (c) The parties hereto shall each immediately notify the other, along with any <br /> applicable insurance carrier( s) , in writing of any occurrence or discovery which could result in <br /> an insurance claim hereunder . <br /> (d) PFPC shall require reasonable liability insurance from all third-party users of the <br /> Facility and shall enforce the provisions contained in all third party contracts entered into in <br /> connection with the Facility, including the insurance requirement contained in all County <br /> approved event license , concessionaire , subcontractor and other similar agreements . Such <br /> liability insurance shall name PFPC and Orange County as additional insureds . <br /> 8 . Ownership of Assets . <br /> 8 . 1 Ownership . <br /> The ownership of buildings and real estate , technical and office equipment and facilities , <br /> furniture , displays , fixtures , and similar tangible property located at the Facility shall remain with <br /> the County . Ownership of and title to all intellectual property rights of whatsoever value , related <br /> to the Facility in any way shall remain the sole property of the County, with the exception of any <br /> inventions , original works of authorship , developments , improvements , trade secrets , or <br /> proprietary software developed by PFPC prior to the date of this Agreement or after the date of <br /> this Agreement ( " PFPC Inventions " ) . PFPC Inventions are not assigned to the County pursuant <br /> to this Agreement . Ownership of equipment, furnishings , materials or fixtures not considered to <br /> be real property and other personal property purchased by PFPC with County funds for use at <br /> and for the Facility shall vest in the County automatically and immediately upon purchase or <br /> acquisition ; however, those purchased by PFPC with its own funds shall vest in PFPC <br /> automatically and immediately upon purchase or acquisition . The assets of the County as <br /> described herein shall not, by PFPC or anyone other than the County, contracting with PFPC , be <br /> pledged, liened, encumbered or otherwise alienated or assigned other than in the ordinary course <br /> of business of the Facility . All Capital Equipment attached in or to the Facility is owned by the <br /> County and ownership of all Capital Equipment that may be purchased, regardless of funding <br /> source , and installed in the Facility during the term of this Agreement shall vest in the County <br /> automatically. <br /> 8 . 2 County Obligations . <br /> Except as herein otherwise set forth, throughout the term of this Agreement, the County <br /> will maintain full beneficial use and ownership of the Facility and will pay, keep , observe and <br /> 12 <br />