AG 1998 08 17 - Laserfiche WebLink

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reasonable times by a Political Subdivision through its duly authorized agents. WSACC shall cause an annual audit of its books and records to be made by an independent certified public accountant at the end of each fiscal year and a certified copy thereof to be flied promptly with the governing body of each Political Subdivision. Section4.2. Remedies and Limitations. The parties hereto shall execute all instruments and take all such actions as are required and appropriate to effectuate this Agreement and the express intention or purpose hereofi If either party should breach this Agreement, then the other party may, at its election or discretion, enforce its rights in a civil action for specific performance or damages. Cancellation, termination or rescission of this Agreement shall not be a remedy for either party hereunder. If either party should elect to waive any right or claim arising under this Agreement, such waiver shall not be deemed a waiver of any other right or claim provided for herein. Section 4.3. Binding Obligation. The parties represent and warrant that they have taken all actions and obtained all authorizations, consents and approvals as are a condition precedent to their authority to execute this Agreement and that this Agreement constitutes a valid and binding obligation on their parts. Furthermore, in the event that for any reason the conditions precedent to a party's authority to execute this Agreement have not been accomplished in accordance with statutory requirements or other requirements, then the parties agree that they will undertake whatever actions are necessary to fulfill the conditions precedent so that this Agreement will be binding on both parties. Section 4.4. Amendment or Supplement of Agreement. This Agreement may be amended or supplemented only by an agreement in writing executed in the same manner as this Agreement and approved by a vote of the majority of the members of each of the respective governing bodies of Cabarrus and WSACC. Subject to the provisions of the Bond Order, this Agreement may be amended or supplemented to provide for, among other matters, the transfer by Cabarrus to WSACC of additional responsibilities with respect to sewage or water services provided by Cabarms and the undertaking of such responsibilities by WSACC as a part of its water and sewer system, which transfer may include a transfer of ownership of the related facilities. Section4.5. Costs. WSACC will bear all costs, expenses and attorneys' fees associated with this Agreement. Section 4.6 Additional Agreements. The Bond Order authorizes the issuance of water and sewer system revenue notes and bonds of WSACC secured by the revenues of a combined water and sewer system of WSACC of which the Sewer Facilities are a part. Accordingly, any additional agreement to be entered into by WSACC and any Political Subdivision or other person for sewage service or water service to be provided to it by WSACC through such system or some other use by it of such system shall also be subject to the applicable provisions of the Bond Order. In addition, any such additional agreement may not adversely affect the rating on such notes or bonds of any rating agency then rating such notes or bonds. 8