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AG 2011 08 15
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AG 2011 08 15
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Last modified
8/16/2011 9:32:21 AM
Creation date
11/27/2017 11:16:35 AM
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Template:
Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
8/15/2011
Board
Board of Commissioners
Meeting Type
Regular
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7. The Cruse Parties shall impose a surcharge on the processing fees charged to their <br />customers and remit the proceeds of the surcharge to the County. The surcharge shall be <br />sufficient to reimburse the County for the cost incurred to construct the Water and Wastewater <br />Systems, estimated to cost approximately $350,000.00. Should the County obtain any new grant <br />moneys to pay for the Water and Wastewater Systems, such grant amount shall reduce the <br />amount in like sum that is to be repaid to the County for construction of these systems. <br />8. The County shall be solely responsible for supervising the construction of the <br />Facility, including the Water and Wastewater Systems, but shall allow the Cruse Parties to <br />provide input to the County concerning the ongoing construction of the Facility. <br />9. The County engages the Cruse Parties to promote, operate and manage the <br />Facility for the period of time, specified below, that the County either owns the Facility or has a <br />deed of trust secured by the Facility. In such capacity, the Cruse Parties shall have exclusive <br />authority over the day -to -day operation of the Facility and its activities, provided that the Cruse <br />Parties shall follow any policies or guidelines that have or may be promulgated by the County, <br />the Internal Revenue Service, NCDENR, the Cabarrus Health Alliance, OSHA, the Cabarrus <br />County Fire Marshall or the North Carolina Department of Agriculture as required by the Grant <br />for the Facility. <br />10. Without limiting the generality of the preceding Paragraph 9, the Cruse Parties <br />shall have the authority, and the obligation, to employ sufficient competent personnel (including <br />other Cruse family members); to enter into and administer contracts for utilities, supplies, meat <br />processing and selling and other business needs of the Facility; to provide sufficient maintenance <br />and repair of the Facility; to prepare and maintain complete and accurate books and records for <br />operation and management of the Facility; and to timely pay all debts of the Facility. <br />11. It is understood and agreed that the County shall have no responsibility or <br />obligation for the management of or operation of the Facility during the term of this <br />Management Agreement. <br />12. CMP shall extend to the County and execute with the County a ground lease for <br />the Real Property, with a term to coincide with the length of the County's legal interest in the <br />Facility, whether as an owner through construction of the Facility or as an owner via foreclosure <br />of the lien of its deed of trust. No rent shall be required of the County by CMP for this lease. <br />13. Upon completion of the Facility, the Cruse Parties shall operate and manage the <br />Facility on a full time basis for at least five (5) years, or as long as any grant supplying funds for <br />the Facility requires the County to own the Facility, whichever period is longer (the "Initial <br />Period "). At the end of the Initial Period, at the request of the Cruse Parties, the County will <br />convey the Facility to the Cruse Parties, on condition that the Cruse Parties at that time execute a <br />deed of trust, security agreement and financing statements for the benefit of the County, granting <br />the County a valid first lien on the Facility and the Equipment. The amount of the deed of trust <br />and security agreement shall be $754,000.00, which is two - thirds of the amount expended by the <br />County in constructing the Facility. For each additional year after the Initial Period that the <br />Cruse Parties operate and manage the Facility, one -tenth of the deed of trust balance shall be <br />amortized and considered paid or reduced. At the conclusion of fifteen (15) years after the Initial <br />Period, if the Cruse Parties have continued to operate and manage the Facility continuously <br />Attachment number 1 <br />G -1 Page 201 <br />
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