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AGENCY AGREEMENT <br />THIS AGENCY AGREEMENT is executed by and between the KANNAPOLIS <br />BOARD OF EDUCATION (the "Board "), and the COUNTY OF CABARRUS, NORTH <br />CAROLINA, a political subdivision duly organized and existing under and by virtue of the <br />Constitution and laws of the State of North Carolina (the "County "); <br />WITNESSETH: <br />WHEREAS, the County has leased to the Board property for a proposed middle school <br />which will lie on the real property described in Exhibit A hereto (the "Site "), together with any <br />additions, modifications, attachments, replacements and parts thereof (the "Project "); and <br />WHEREAS, all acts, conditions and things required by law to exist, to have happened <br />and to have been performed precedent to and in connection with the execution and entering into <br />of this Agency Agreement do exist, have happened and have been performed, in regular and due <br />time, form and manner as required by law, and the parties hereto are now duly authorized to <br />execute and enter into this Agency Agreement; <br />NOW, THEREFORE, IN CONSIDERATION OF THE PREMISES AND OF THE <br />MUTUAL AGREEMENTS AND COVENANTS CONTAINED HEREIN AND FOR OTHER <br />VALUABLE CONSIDERATION, THE PARTIES HERETO DO HEREBY AGREE AS <br />FOLLOWS: <br />Section I Board to Act as Agent of the County <br />The County hereby irrevocably appoints the Board as its agent in connection with any <br />construction and other accomplishment of the Project. The Board, as the agent of the County for <br />the foregoing purpose, shall cause the Project to be completed on or before the date or dates set <br />forth in the respective construction documents and otherwise in accordance with the respective <br />construction documents and any applicable requirements of governmental authorities and law. <br />The County and the Board agree that all amounts received by either of them as refunds of State <br />of North Carolina sales tax with respect to expenditures made in connection with the Project will <br />be deposited in the Acquisition and Construction Fund. <br />To the extent permitted by law, the Board shall indemnify and save the County <br />harmless against and from all claims by or on behalf of any person, firm, corporation or other <br />legal entity arising from the construction and other accomplishment of the Project; but the Board <br />is not obligated to pay the Installment Payments under the Installment Agreement or to <br />indemnify any party to the: Installment Agreement for any third -party claims asserted against <br />any such party relating to the payment of such Installment Payments. The Board shall be notified <br />promptly by the County of any action or proceeding brought in connection with any such claims <br />arising from the construction and other accomplishment of the Project. <br />Attachment number 1 \n <br />F -4 Page 60 <br />