Orange County NC Website
E <br />OWASA as of the date of the granting of the final approval of the <br />permit by the County with instructions to analyze the sale or loan <br />and determine whether or not the presence of the American Stone <br />Quarry has adversely impacted the loan amount or the sale amount. <br />The expense for this will be paid by ASC and OWASA, %z each. <br />'~ OWASA and ASC will seek to have the appraisal completed with <br />in sixty (60) days. <br />2. The owner will have the opportunity to review the appraisal. If the <br />owner is not satisfied, then the owner may have its own MAI <br />appraisal performed at owner's expense. <br />3. The parties will attempt to resolve the issue both at the point of the <br />initial MAI appraisal, and if not successful then, then at the point <br />ofthe second MAI appraisal. <br />4. If no resolution can be reached, the two appraisers will select a <br />third MAI appraiser to perform an analysis, and the three <br />appraisers will then seek to quantify any decrease in fair mazket <br />value resulting from quarry operations. The third appraiser will be <br />paid for %Z by OWASA and ASC and %Z by the homeowner. <br />S. Once the final resolution is reached and if an adverse impact is <br />decided, payment will be made by ASC and OWASA each sharing <br />the amount equally, within thirty (30) days of the final resolution. <br />6. Upon payment to a property owner, the owner shall convey to <br />ASC and OWASA an easement stating that the payment made is in <br />