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72 <br /> <br /> action, as any other party may reasonably request in order <br /> to effectuate the purposes of this agreement. <br />(b) All understandings and agreements heretofore had between <br /> the parties are merged in this agreement and the related <br /> agreements executed in conjunction with this agreement, all <br /> of which together fully and completely express their <br /> agreement, and no representations or warranties have been <br /> made by any party to another party except as are herein <br /> expressly set forth or required pursuant to this agreement <br /> and the related agreements executed in conjunction with <br /> this agreement. <br />(c) The headings in this agreement are for purposes of <br /> reference only and shall not limit or otherwise affect any <br /> of the terms hereof. <br />(d) This agreement shall be binding upon and shall inure to the <br /> benefit of the parties hereto and their respective heirs, <br /> legal representatives, successors and assigns. <br />(e) If any provision of this agreement is determined by a court <br /> of competent jurisdiction to be illegal or unenforceable, <br /> such provision shall be automatically reformed and <br /> construed as to be valid, operative and enforceable to the <br /> maximum extent permitted by law or equity while preserving. <br /> its original intent. The invalidity of any part of this <br /> agreement shall not render invalid the remainder of this <br /> agreement. <br /> (f) The execution and delivery of this agreement and the <br /> performance of the obligations hereunder have been duly <br /> authorized by all requisite action required by law of each <br /> party. <br /> <br /> IN WITNESS WHEREOF, the Cabarrus County Board of County Commissioners <br />and the Kannapolis City Council have approved this agreement and caused it to <br />be executed and attested by their duly authorized officials. <br /> <br />ATTEST: <br />/s/ Frankie F. Bonds <br />Clerk <br /> <br />(SEAL) <br /> <br />COUNTY OF CABARRUS <br />By: /s/ Sue Casper <br /> Chairman <br />This instrument has been preaudited in <br />the manner required by the Local <br />Government Budget and Fiscal Control Act. <br /> <br />BY:/s/Blalr Bennett <br /> Finance Director <br /> <br />CITY OF KANNAPOLIS <br />By: <br /> <br />ATTEST: Mayor <br /> <br />Clerk <br />(SEAL) <br /> <br />~9~uest to Set a Public Hearln~ to Consider a Commercial/Retail Incentive <br />Grant for the D~veloDment of a Retail Center by Fourth Ouarter Properties IV, <br /> <br /> Mr. Clifton reviewed the request for the Board to set a public hearing <br />on Novel%bet 16 to consider an incentive grant for Fourth Quarter Properties <br />IV, Inc. to develop a retail center in excess of 250,000 square feet. <br /> <br /> UFON MOTION of Commissioner Niblock, seconded by Commissioner Carpenter <br />with Commissioners Niblock, Carpenter and Barnhart and Chairman Casper voting <br />for, the Board set a public hearing on November 16, 1998 at 6:30 P.M. (or as <br />soon thereafter as persons may be heard) to consider a commercial/retail <br />incentive grant for the development of "The Pavilion at Kings Grant" by <br />Fourth Quarter Properties IV, Inc. <br /> <br />~gques~ to Set a Public Hearina to Consider an Industrial Develovment <br />In~entive ~rant for Pillowtex (Fieldcrest Cannon~ <br /> <br /> MS. Sarah King, Associate General Counsel for Pillowtex Corporation <br />(Fieldcrest Cannon), requested the Board to set a public hearing to consider <br />an industrial development incentive grant for Fieldcrest Cannon. She stated <br />the grant was needed to make certain improvements to modernize the facility <br />in Kannapolis. The total projected cost of the proposed projects was <br />estimated at approximately $82 million. <br /> <br /> <br />