Orange County NC Website
Browse       Search
18 <br /> Company's and the County's obligations shall be suspended for one year and resume thereafter. <br /> If after one year the aforesaid 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 31St 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 interpreted as creating a pledge of <br /> the faith and credit of the county within the meaning of any constitutional debt <br /> limitation. No provision of this Agreement shall be construed or interpreted as <br /> delegating governmental powers nor as a donation or a lending of the credit of the <br /> county within the meaning of the North Carolina Constitution. <br /> This Agreement shall not directly or indirectly or contingently obligate the county to <br /> make any payments beyond those appropriated in the county's sole discretion for any <br /> fiscal year in which this Agreement shall be in effect. <br /> No provision of this Agreement shall be construed to pledge or to create a lien on any <br /> class or source of the county's moneys, nor shall any provision of the Agreement restrict <br /> any action or right of action on the part of any future county governing body. <br /> To the extent there is a conflict between this Section and any other provision of this <br /> Agreement,this Section shall have priority. <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.Neither Party may assign their rights, <br /> responsibilities, or interest in this Agreement without the prior written consent of the other <br /> Party. <br /> Revised 2023 Page 9 of 18 <br /> 4863-5202-3475.v5 <br />