Laserfiche WebLink
shall be returned to the extent possible to the Jurisdictions <br />transferring the same, and the remaining assets, if any, shall be <br />transferred to Cabarrus County. <br /> <br /> 6. Lease and Transfer of Facilities and Infrastructure. <br /> <br />within ninety (90) days of the creation of the Authority as <br />outlined in Paragraphs 4 and 5, Concord and Cabarrus County shall <br />execute and enter into leases with the Authority of their <br />respective right, title and interest, if any, in and to the Rocky <br />River Regional Wastewater Treatment Plant, and all interceptor <br />sewer lines and appurtenant metering and pumping stations <br />including, but not limited to, the Rocky River, Coddle Creek, New <br />Irish Buffalo Creek, Coldwater Creek, Three Mile Branch, and <br />Coddle Creek/Wolf Meadow Branch Interceptor Sewers, the Dutch <br />Buffalo Creek Interceptor Sewer and force main, the Afton Run <br />Branch Interceptor and force main, and the Rocky River/Harrisburg <br />Outfall (the "Facilities and Infrastructure") upon the following <br />terms and conditions: <br /> <br /> (a) The respective leases shall be for an initial <br /> term of twenty (20) years for the sum of One Dollar <br /> ($1.00) per year with an option granted to the <br /> Authority at the conclusion of the 20th year, to <br /> purchase the Facilities and Infrastructure for the sum <br /> of One Dollar ($1.00); <br /> <br /> (b) The respective leases shall be on a "triple <br /> net" basis, i.e. the Authority shall assume all <br /> expenses associated with the operation and maintenance <br /> of the Facilities and Infrastructure, including the <br /> payment of all outstanding debt obligations, and, to <br /> the extent permitted by law, shall indemnify and save <br /> Concord and/or Cabarrus County respectively from any <br /> liability associated with such operation and <br /> maintenance, including, but not limited to, any costs <br /> <br /> <br />