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306 <br /> <br />the acquisition, construction, installation and equipping of either the <br />Project or the facility known as the Mount Pleasant Water Treatment <br />Plant. <br /> <br /> Section 8. The Town hereby represents and warrants to the County <br />that: <br /> <br /> (a) It has the power to enter into this Agreement, and has <br />duly authorized and taken the necessary acts required (including all <br />required approvals) prior to the execution and delivery of this <br />Agreement; <br /> <br /> (b) This Agreement is the valid, legal and binding obligation <br />of the Town; and <br /> <br /> (c) It will comply with all applicable laws and regulations to <br />which it is subject in causing the acquisition, construction, <br />installation and equipping of the Project. <br /> <br /> Section 9. That County hereby represents and warrants to the Town <br />that: <br /> <br /> (a) It has the power to enter into this Agreement, and has <br />duly authorized and taken the necessary acts required (including all <br />required approvals) prior to the execution and delivery of this <br />Agreement; and <br /> <br /> (b) This Agreement is the valid, legal and binding obligation <br />of the County. <br /> <br /> Section 10. No failure or delay in exercising any right hereunder <br />on the part of any party hereto shall operate as a waiver thereof, nor <br />shall any single or partial exercise by any party hereto of any right <br />hereunder preclude any other further exercise of such right or the <br />exercise of any other right hereunder. <br /> <br /> Section 11. Ail representations and warranties of the Town and the <br />County contained herein shall survive the making of any payment pursuant <br />to this Agreement. <br /> <br /> Section 12. This Agreement represents the entire understanding of <br />the Town and the County with respect to the matters contained herein, and <br />supercedes all prior agreements and understandings between the Town and <br />the County, including, but not limited to, the 1984 Agreement and the <br />1987 Agreement. <br /> <br /> Section 13. This Agreement shall be perpetual and binding upon and <br />shall inure to the benefit of the County and Town, and their respective <br />successors and assigns. <br /> <br /> IN WITNESS WHEREOF, the Town and the County have each caused this Agree- <br />ment to be executed in its name by its duly authorized officer as of the day <br />and year first above written. <br /> <br />TOWN OF MOUNT PLEASANT <br />By: <br /> <br />Mayor <br /> <br />COUNTY OF CABARRUS <br />By: <br /> <br />Chairman, Board of Commissioners <br /> <br />EXHIBIT A <br /> <br />Description of Facility Site <br /> <br />The Facility Site consists of three parcels of land described as follows: <br /> <br />TRACT A <br /> <br /> <br />