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501 REPORTS Settlement Aqreement between Cabarrus County and Level 3 Communications The following Settlement Agreement was included in the Agenda and acknowledged by the Board. SETTLEMENT AGREEMENT This Settlement Agreement is entered into as of the 7 day of July, 2000, by and between Cabarrus County, North Carolina (hereinafter "County") and Level 3 Communications, LLC (hereinafter "Level 3"). WITNESSETH: WHEREAS the County owns lands across which Level 3 seeks a right of way; and WHEREAS the County, being sensitive to the possible environmental impact of the activities of Level 3 in installing telecommunications facilities in the vicinity of the County's Coddle Creek Reservoir and pertinent County zoning and soil and sediment regulations, has forbidden Level 3 to proceed with construction of its telecommunications facilities upon land within the Coddle Creek Watershed Overlay Zoning District, notwithstanding Level 3's procurement of a permit from the North Carolina Department of Transportation and a "Plan Approval" from the North Carolina Department of Environmental and Natural Resources; and WHEREAS the County has agreed to grant a right of way to Level 3 across the land described in paragraph l(e) of this Agreement, and to permit Level 3 to proceed with the installation of its telecommunications system across Cabarrus County, in consideration of the payments, covenants and agreements set out below. NOW THEREFORE in consideration of the premises the parties agree as follows: Agreements of Level 3. (a) With regard to the installation of its telecommunications system in the area identified in paragraph l(e) (i), Level 3 will install its telecommunications system utilizing a process of trenching and boring, being sure to only bore under the area identified below in paragraph l(e) (i). Level 3's installation process in that area shall at all times be in compliance with the terms and conditions set forth in that letter of June 1, 2000, from Jay Shive to Fletcher L. Hartsell, Jr., a copy of which is attached and incorporated herein by reference. (b) Level 3 will pay to the County a one-time fee of $250,000. This amount will be held in a non-interest bearing escrow account pursuant to paragraph 3 hereof, and released to the County upon satisfaction of the conditions therein stated. (c) In addition to the sum described in paragraph l(b) above, Level 3 also will reimburse the WATER AND SEWER AUTHORITY OF CABARRUS COUNTY (WSACC) up to $10,000.00 for engineering and inspection costs directly or indirectly (including overhead costs) incurred by WSACC in connection with Level 3's installation of its telecommunications system. This $10,000 amount will be held in escrow pursuant to paragraph 3 hereof. (d) Level 3 will provide the County from time to time insurance certificates reflecting a minimum coverage of $25,000,000 insurance to protect Cabarrus County against any loss occasioned by damage to the Coddle Creek water supply or otherwise arising out of Level 3's construction, installation, maintenance, or repair of the telecommunications system across that certain land in Cabarrus County which is more specifically described in paragraph l(e) below. Certificates assuring such coverage for a period of ten years from the date hereof will be provided to the County. (e) Level 3 hereby covenants and agrees that the County and WSACC will not be held liable for any negligent damage to Level 3's telecommunications system occasioned by actions or inactions of agents, servants, or employees of the County or WSACC in those areas where Level 3's telecommunications system crosses property owned in fee by the County. There are two such areas: (i) an area under the bridge where NC Highway 136 crosses Coddle Creek Reservoir, and (ii) that property across which the County, pursuant to paragraph 2(b) of this Agreement, agrees to provide a