Orange County NC Website
Browse       Search
8 <br /> If intended for the School Districts: <br /> Chapel Hill Carrboro City Schools <br /> Attn: Superintendent <br /> Orange County Schools <br /> Attn: Superintendent <br /> Any addressee may designate a different address for communications by notice given under this <br /> subsection to the other. <br /> 7.06 This Agreement is executed as to form only until both parties have fully signed and <br /> executed the same. The effective date of this Agreement shall be the date upon which both parties <br /> have fully signed and executed this Agreement. When the last party fully signs and executes this <br /> Agreement, that party shall add the date of his signature to the very first paragraph of this <br /> Agreement and such date shall become the effective date of the Agreement. <br /> 7.07 The parties shall, to the greatest extent possible, fully cooperate to develop and approve <br /> an agreement and means of sales tax recapture. The process for sales tax recapture may be <br /> accomplished in any lawful manner. No Project may proceed until a sales tax recapture <br /> agreement is adopted for the specific Project. <br /> ARTICLE VIII <br /> DEFAULTS REMEDIES COSTS AND PERSONAL LIABILITY <br /> 8.01 A party is in default under this Agreement (i) if it fails to observe and perform any covenant, <br /> condition or agreement on its part to be observed or performed for a period of 30 days after notice <br /> specifying the failure and requesting that it be remedied has been given by the other party, or (ii) if <br /> any representation or warranty provided in this Agreement is found to be incorrect or incomplete in <br /> any material respect as of the Effective Date. <br /> 8.02 Whenever any default is continuing, the non-defaulting party may take any or all of the <br /> following remedial steps: <br /> (i) At its option, cure the default by paying money or taking any other appropriate <br /> action, in which case the defaulting party must reimburse the non-defaulting party for <br /> all costs and expenses reasonably incurred in curing the default, including legal costs. <br /> (ii) Take whatever action at law or in equity may appear necessary or desirable to <br /> collect the amounts then due and thereafter to become due, or to enforce performance <br /> and observance of any obligation, agreement or covenant of a party under this <br /> Agreement. <br />