Agenda - 10-01-2002 - 8k - Laserfiche WebLink

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7 WHEREAS, it is understood by the parties that the land on which the specific fields referred to herein are to be located is owned by the University of North Carolina at Chapel Hill and is State property, that the land on which the fields referred to herein are to be located is leased to the Orange County Commissioners for the specific purpose of providing additional land for the School Site, and that all agreements between the parties will be subject to the underlying lease agreements and rights of the State of North Carolina and the University of North Carolina at Chapel Hill but in no event shall the County's and the Town's access to the soccer field identified as Field 3b in this Agreement, once constructed, be denied or limited during the term of this Agreement; and WHEREAS, the Board of Education has or expects to have control of land currently owned by the University of North Carolina at Chapel Hill which is to be leased to the Orange County Commissioners for use by the Chapel Hill-Carrboro City Schools, and has represented that the leasing arrangement has been approved by the Board of Trustees of the University of North Carolina at Chapel Hill and currently awaits approval by the Council of State, that the plan to construct new recreational and athletic fields on the property which will be the subject of the lease, and that the development of the fields referred to herein is specifically conditioned upon the final execution and approval of that lease by the Council of State, the University of North Carolina at Chapel Hill, the Orange County Commissioners, and the Chapel Hill-Carrboro City Board of Education. NOW, THEREFORE, in consideration of the foregoing and of the mutual promises and obligations set forth herein, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 3