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assume no other obligation relating to the Park, its facilities or <br />operations except as may be otherwise approved by the County. <br /> <br />Cabarrus County. Cabarrus County shall appropriate' and <br />contribute to the annual operating budgets as follows: <br /> <br />(1) fiscal year 1998-1999 ...... $48,850.00 <br /> <br />(2) fiscal year 1999-2000 ...... $32,567.00 <br /> <br />(3) fiscal year 2000-2001 ...... $16,284.00 <br /> <br /> Thereafter, Cabarrus County shall have or assume no other obligations relating to the <br />Park, its facilities or operations. <br /> <br /> Section 3. Transfer of Title. Within sixty days following execution of this <br />Agreement, the Counties shall execute such deeds for the real property and such other personal <br />property transfer documents as are necessary and appropriate for the transfer of fee simple title <br />to the Park, its facilities and related personal property, free and clear of all liabilities, claims, <br />obligations, security interests and encumbrances. An inventory of the personal property <br />transferred pursuant to this Agreement is attached hereto as Exhibit "A". <br /> <br /> Section 4. Lead Agency. From after January 1, 1999, the City shall act as the lead <br />agency for the management and operation of the Park which activities shall include but shall not <br />be limited to the following: <br /> <br />(a) Act as the Park's purchasing agent for all purchases. <br /> <br />(b) <br /> <br />Provide accounting and other fiscal control in compliance with <br />accounting procedures stipulated in North Carolina General <br />Statutes Chapter 159. <br /> <br />(c) <br /> <br />Provide an annual audit of the Park's budget and expenditures as <br />required by the North Carolina Local Government Commission. <br /> <br />(d) <br /> <br />Provide or perform such other services and activities as the City <br />and Cabarrus County may agree. <br /> <br /> Section 5. <br />Counties shall take <br />Commission. <br /> <br />Park Commission. Following transfer of title as specified in Section 3 the <br />such action as is necessary to terminate the Cabarrus-Rowan Park <br /> <br /> Section 6. Warranty. Effective from and after transfer of title as specified in' Section <br />3, the City warrants that the continued use of the Park shall be in compliance with the provisions <br /> <br /> <br />