Orange County NC Website
3 <br />(f) In the event of a substantial decrease in the Operating Revenues not <br />reasonably within the control of either party, the parties shall mutually negotiate in good faith an <br />adjustment to the Benchmark to take into account such decreased Operating Revenues. <br />1.3.7 Binding Upon Successors and Assirrrs; No Third-Party Beneficiaries; <br />Subordination. <br />(a) This Agreement and the rights and obligations set forth herein shall inure <br />to the benefit of; and be binding upon, the parties hereto and each of their respective successors <br />and permitted assigns. <br />(b) This Agreement shall not be construed as giving any Person, other than <br />the pazties hereto and their successors and pernitted assigns, any legal or equitable right, remedy <br />or claim under or in respect of this Agreement or any of the provisions herein contained, this <br />Agreement and all provisions and conditions hereof being intended to be, and being, for the sole <br />and exclusive benefit of the parties hereto and their successors and permitted assigns and for the <br />benefit of no other Person„ <br />(c) This Agreement shall, at all times, be and remain subordinate to any deed <br />of trust or other security interest which uses the Facility and the land upon which the Facility is <br />located as security for funds borrowed by the County for the purchase or any addition to or <br />expansion of the Facility, including that related to the Central Orange Senior Center, and the land <br />upon which the Facility is located; or borrowed for any other public purpose of the County, now <br />or in the future. RFP agrees to execute any acknowledgement ofthis subordination reasonably <br />requested by a County lender, <br />13.8 Notices. <br />Any notice, consent or other communication given pursuant to this Agreement <br />must be in writing and will be effective either (a) when delivered personally to the party for <br />whom intended, provided a delivery receipt is secured by the deliverer, (b) on the second <br />business day following mailing by an overnight courier service that is generally recognized as <br />reliable, (c) on the fifth day following mailing by certified or registered mail, return receipt <br />requested, postage prepaid, or (d) on the date transmitted by telecopy as shown on the telecopy <br />confirmation therefor as long as such telecopy transmission is followed by mailing of such notice <br />by certified or registered mail, return receipt requested, postage prepaid, in any case addressed to <br />such party as set forth below or as a party may designate by written notice given to the other <br />party in accordance herewith. <br />Io the County: <br />County Manager <br />P.O Box 8181 <br />Hillsborough, NC 272728 <br />With a copy (which shall not constitute notice) to the then-County Attorney, <br />31 <br />