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average occupancy percentage and room revenue information to the City, <br />the County and the Tourism Authority. The City, the County and the <br />Tourism Authority will endeavor in good faith and use their best efforts to <br />maintain the confidentiality of all such information. <br /> <br />Room Occupancy Tax. City, County and Tourism Authority recognize <br />that creation of an incentive to develop and maintain a local, publicly <br />owned civic and convention center is necessary and desirable. Toward <br />creation of such a funding source, and further, toward establishment of the <br />EIP, the Cabarrus County Board of Commissioners and the Cabarms <br />County Tourism Authority Board shall pursue increasing the local room <br />occupancy tax from 3% to 5% in accordance with the North Carolina <br />General Statutes. The first 3% shall continue to be dedicated to tourism <br />promotion while the additional 2% is to be dedicated to a publicly owned <br />civic/convention center. <br /> <br />Inspections, Engineering and Utilities. Developer recognizes that because <br />of the scope of the proposed development and the construction schedule <br />Developer desires, the City and County may be required to use outside <br />consultants to evaluate engineering plans and to inspect the construction. <br />Developer agrees to negotiate with the City and County in good faith and <br />appropriate allocation of the costs of such consultants. The City <br />represents that there are (and shall be) adequate public utilities sufficient <br />and available to develop the Concord Marriott for its intended use. <br /> <br />Easements and Rights-of-Way. To the extent reasonably necessary, the <br />City may be required to use (subject to applicable legal constraints) its <br />powers of eminent domain or taking to acquire such rights-of-way and <br />easements as may be required or desirable in the City's reasonable <br />discretion. <br /> <br />III. MISCELLANEOUS PROVISIONS <br /> <br />Ao <br /> <br />Governing Law. This MOU and the legal relationship between the City, <br />County and Developer pursuant to this MOU shall be governed by and <br />construed and enforced in accordance with the laws of the State of North <br />Carolina. <br /> <br />Expenses. Whether or not the transactions contemplated by this MOU <br />shall be consummated, all fees and expenses incurred by any party hereto <br />in connection with entering into this MOU and the negotiations of the BA <br />shall be borne by such party, unless otherwise agreed to pursuant to the <br />BA. <br /> <br />-7- <br /> <br /> <br />