AG 1992 01 06 - Laserfiche WebLink

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the real property, plans, surveys and related items set forth therein; (e) As the purchase price of the'water lines described in Paragraph 9 hereinafter, Concord shall pay to the Water & Sewer District of Cabarrus County (the "District") a sum which represents the advance payment of the principal amount of the remaining debt of the District incurred with respect to the water lines [currently computed to be Three Hundred Sixty-Seven Thousand Sixty-Six and 72/100 Dollars ($367,066.72)], plus accumulated interest thereon, if any, prorated to the date of closing. 3. Coddle Creek Agreement Modifications. The Coddle Creek Agreement is modified such that: (a) A new subparagraph (al) is added to and inserted in Paragraph 7 of the Coddle Creek Agreement to read as follows: (al) Subject to the provisions of subparagraph (a), Cabarrus assigns to Concord an amount of the net available yield in gallons equivalent to Concord's highest average daily usage as computed and averaged from Concord's consumption of raw water from the Coddle Creek Reservoir across any continuous six-month period, but such amount shall not be accumulated. (b) Upon receipt of the sum of Three Hundred Twenty-Five Thousand and No/100 Dollars ($325,000.00), from Cabarrus County, as identified in Paragraph 2(d) of this Agreement, Concord acknowledges full and final payment of all sums due and owing by Cabarrus County to Concord under the Coddle Creek Agreement for the real property, plans, surveys and related items set forth therein. 4. Water and Sewer Authority Resolution. Within thirty (30) days after Concord and Cabarrus County have executed this Agreement, Concord and Cabarrus County preferably but not necessarily in conjunction with all other parties contemplated to be initial participants in the Authority (Harrisburg, Kannapolis,