BC 1991 12 16 - Laserfiche WebLink

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406 associated water tanks, pump stations and mains, the Coddle Creek Reservoir, Black Run Creek Reservoir, Lake Concord, Lake Fisher, the water rights to Kannapolis Lake and the Second Creek Reservoir Project land. 12. No Admission. Entering into this Agreement and the execution thereof shall not be considered an admission of liability or wrongdoing on the part of any party to the Litigation nor shall such be implied. 13. Entire Agreement. Except as expressly set forth in this Agreement, there are no other prior or contemporaneous promises, covenants, representations, warranties, agreements or understandings (written or oral, or by course of dealing, course of performance or by usage of trade) which contradict, are inconsistent with or which supplement the terms set forth herein. Anything in the foregoing notwithstanding, the Airport Contract, the Water & Sewer Contract, the Coddle Creek Agreement and Reciprocal Agreement, and the Treated Water Agreement remain unaffected by this Agreement except as and to the extent expressly modified or amended herein. This Agreement may be amended and modified, in whole or in part, only by an agreement in writing executed in the same manner as this Agreement. 14. Situs of Agreement. This Agreement is entered into in the State of North Carolina and shall be construed and interpreted in accordance with the laws of the State of North Carolina. 15. Remedies and Limitations. The parties hereto shall execute all instruments and take all such actions as are required and appropriate to effectuate this Agreement and the express intention or purpose hereof. If either party should breach this Agreement, then the other party may, at its election or discretion, enforce its rights in a civil action (a) for specific performance or (b) for damages. Cancellation, termination or rescission of this Agreement shall not be a remedy for either party hereunder. If either party should elect to waive any right or claim arising under this Agreement, such waiver shall not be deemed a waiver of any other right or claim provided for herein. 16. Binding Obligation. The parties further represent and warrant that they have taken all actions and .obtained all authorizations, consents, and approvals as are a condition precedent to their authority to execute this Agreement and that this Agreement constitutes a valid and binding obligation on their part. Furthermore, in the event that for any reason the conditions precedent to a party's authority to execute this Agreement have not been accomplished in accordance with statutory requirements or other requirements, then the parties agree that they will undertake whatever actions are necessary to fulfill the conditions precedent so that this Agreement will be binding on all parties. 17. Costs. Ail parties to this Agreement agree to bear their own costs, expenses, and attorneys~ fees associated with the Litigation. WE HAVE READ THE ABOVE AGREEMENT BEFORE SIGNING IT AND FULLY UNDERSTAND THE TERMS. IN WITNESS WHEREOF, Concord has executed this Agreement this __ day of December, 1991, and Cabarrus County has executed this Agreement this __ day of December, 1991. CITY OF CONCORD, a Municipal Corporation By: ATTEST: Bernie A. Edwards, Mayor Vickie C. Weant, City Clerk Approved as to Form City Attorney This instrument has been pre- audited in the manner required by the Local Government Budget and Fiscal Control Act. Finance Director CABARRUS COUNTY, a Political Subdivision of the State of North Carolina By: Carolyn B. Carpenter Chairperson, Board of Commissioners