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SETTLEMENT AGREEMENT <br /> <br /> This Settlement Agreement is entered into as of the r-/ day of July, 2000, by and <br />between Cabarms County, North Carolina (hereinafter "County") and Level 3 Communications, <br />LLC (hereinafter "Level 3"). <br /> <br />WITNESSETH: <br /> <br />WHEREAS the County owns lands across which Level 3 seeks a right of way; and <br /> <br /> WHEREAS the County, being sensitive to the possible environmental impact of the <br />activities of Level 3 in installing telecommunications facilities in the vicinity of the County's <br />Coddle Creek Reservoir and pertinent County zoning and soil and sediment regulations, has <br />forbidden Level 3 to proceed with construction of its telecommunications facilities upon land <br />within the Coddle Creek Watershed Overlay Zoning District, notwithstanding Level 3's <br />procurement of a permit from the North Carolina Department of Transportation and a "Plan <br />Approval" from the North Carolina Department of Environmental and Natural Resources; and <br /> <br /> WHEREAS the County has agreed to grffnt a right of way to Level 3 across the land <br />described in paragraph l(e) of this Agreement,' and to permit Level 3 to proceed with the <br />installation of its telecommunications system across Cabarrus County, in consideration of the <br />payments, covenants and agreements set out below. <br /> <br />NOW THEREFORE in consideration of the premises the parties agree as follows: <br /> <br />1. Agreements of Level 3. <br /> <br />(a) <br /> <br />With regard to the installation of its telecommunications system in the area <br />identified in paragraph l(e)(i), Level 3 will install its telecommunications system <br />utilizing a process of trenching and boring, being sure to only bore under the area <br />identified below in paragraph l(e)(i). Level 3's installation process in that area <br />shall at all times be in compliance with the terms and conditions set forth in that <br />letter of June 1, 2000, from Jay Shive to Fletcher L. Hartsell, Jr., a copy of which <br />is attached and incorporated herein by reference. <br /> <br />(b) <br /> <br />Leve[ 3 will pay to the County a one-time fee of $250,000. This amount will be <br />held in a non-interest bearing escrow account pursuant to paragraph 3 hereof, and <br />released to the County upon satisfaction of the conditions therein stated. <br /> <br />(c) <br /> <br />In addition to the sum described in paragraph l(b) above, Level 3 also will <br />reimburse the WATER AND SEWER AUTHORITY OF CABARRUS COUNTY <br />(WSACC) up to $10,000.00 for engineering and inspection costs directly or <br />indirectly (including overhead costs) incurred by WSACC in connection with <br />Level Ys installation of its telecommunications system. This $10,000 amount will <br />be held in escro~v pursuant to paragraph 3 hereof. <br /> <br /> (d) Level 3 will provide the County from time to time insurance certificates reflecting <br /> a minimum coverage of $25,000,000 insurance to protect Cabarrus County <br />Wr~STOrq ~9,~,:s ~.2 0_*-[ <br /> <br /> <br />