AG 1997 09 15 - Laserfiche WebLink

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(b) Authority_. The City and the County hereby affirm (each as to their respective authority) that (i) the City Council for the City and the Board of County Commissioners of the County have authorized and approved the application of the respective Programs to the Project and have authorized the Grants and the other terms of this Agreement; (ii) this Agreement constitutes the "formal agreement" required under the Programs of the City and the County; (iii) the terms of this Agreement and those contained in the attached description of the Programs (.Exhibits 3-A and 3-B) shall govem the application of the Programs to the Project and the Property subject to (i) the terms of Sections l(d), (e), and (f) set forth herein, and (ii) the terms and conditions of that certain Memorandum of Understanding as amended by that certain letter amendment from the City each of which is attached hereto as Exhibits 4-A and 4-B and made a part hereof(collectively "MOU"). SECTION 2: MOU. Upon execution of this Agreement (which is the "Business Agreement" referred to in the MOU), the terms of the MOU are incorporated herein as if fully set forth in the text of this Agreement. Accordingly, the rights, duties and obligations described in the MOU are binding upon the respective parties without further documentation but subject to the following clarifications contemplated by the terms of the MOU: (a) Ring Road. It is currently contemplated by Mills that the "Ring Road" will be constructed by Mills as part of the Project in accordance with the specifications for rights-of-way and construction of the State of North Carolina. At any time during the term of this Agreement, Mills may elect to dedicate the Ring Road to the City in which event the City agrees to accept the Ring Road as a public road and for public maintenance. From and after the date of such dedication, the City will be responsible for all maintenance of the Ring Road. If the Ring Road remains a 3