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I~:HORA.NDb'H OF AGREEMEN~ This Agreement, effective as of January 15, 1992 by and between the College of Forest Resources (CFR), North Carolina State University, Box 8001, Raleigh, North Carolina 27695-8001 (hereinafter referred to as "UNIVERSITY") and Cabarrus County, Board of Commissioners hereinafter referred to as "COUNt"X", having a principal location at 1755 Cabarrus Avenue West, Concord, North Carolina 28026. WITNESSETH Wa=REAS, the collaborative investigations and research contemplated by this Agreement are of mutual interest and benefit to UNIVERSITY and to COUNTY and will further the instructional and research objectives of UNIVERSITY in a manner consistent with its status as a nonprofit, tax-exempt, public educational institution; NOW, THEREFORE, the parties hereto agree as follows: 1. STATEMENT OF WORX. UNIVERSITY will use its best efforts to perform certain projects in the field of Forest Plantings for Mitigation (hereinafter collectively referred to as "RESEARCH pROGRAM"), which projects are more fully described in Attachment A to this Agreement and in the attached specifications. Depending on the progress made, the results obtained, and the interests of both UNIVERSITY and COUNTY, adjustments to the RESEARCH PROGRAM, as mutually agreed, can be made within the budget set forth in Attachment B and Attachment C. 2. PRINCIPAL INVESTIGATOR. The Principal Investigators for the RESEARCH PROGRAM will be Dr. Douglas J. Frederick and Dr. E. C. Franklin who will be supported by personnel employed by UNIVERSITY as needed. If for any reason the Principal Investigators are unable to continue to serve, UNIVERSITY and COUNTY shall agree on a suitable successor or successors. If a suitable successor is not available, this agreement may be terminated hereinafter as provided in Paragraph 11. 3. TERMS OF RESEARCH. The Research Term shall commence as of January 15, 1992 (the "Effective Date") and shall terminate December 31, 1996 {the "Expected Research Termination Date"), unless extended as provided herein. It is expected that the RESEARCH PROGRAM shall be completed by the Expected Research Termination Date. However, if the RESEARCH PROGRAM is not completed by such date, COUNTY shall have the right and option, to exercise by written notice, to have the Research Term extended month to month for an indefinite period, but not to exceed six (6) months, by providing continued financial support for the extended time period ~ro rate basis consistent with the rate determinable from Section 5 below. 4. REPORTS. UNIVERSITY will provide to COUNTY reports on the conduct of the RESEARCH PROGRAM at least quarterly and such other times as may be mutually agreeable. UNIVERSITY shall also provide to COUNTY a final report within ninety (90) days of the termination of the Research Term. 5. REIMBURSEMENT OF COSTS AND pAYMENT SCHEDULe. In consider- ation for UNIVERSITY's performance under this Agreement, COUNTY in accordance with the budgets which are attached hereto as Attachment B and C. The amount payable by COUNTY for the conduction of the RESEARCH PROGRAM is $445,600.00 subject to any changes agreeable to both parties.