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AG 2018 04 16
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AG 2018 04 16
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5/8/2019 3:32:42 PM
Creation date
5/1/2019 4:58:43 PM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
4/16/2018
Board
Board of Commissioners
Meeting Type
Regular
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parties, and no modification of this Agreement shall be binding unless in writing and signed by all <br />parties. The invalidity of one or more provisions of this Agreement shall not affect the validity of any <br />other provisions, and this Agreement shall be construed and enforced as if such invalid provisions were <br />not included. <br />Section 12. Enforceability: This Agreement shall become a contract when signed by both Buyer and <br />Seller and such signing is communicated to both parties, it being expressly agreed that the notice <br />described in Section 10 is not required for effective communication for the purposes of this Section 12. <br />The parties acknowledge and agree that: (i) the initials lines at the bottom of each page of this <br />Agreement are merely evidence of their having reviewed the terms of each page, and (ii) the complete <br />execution of such initial lines shall not be a condition of the effectiveness of this Agreement. This <br />Agreement shall be binding upon and insure to the benefit ofthe parties, their heirs, successors and <br />assigns and their personal representatives. <br />Section 13. Applicable Law: This Agreement shall be construed under the laws of the State of North <br />Carolina. <br />Section 14. Assignment: This Agreement may not be assigned by the Buyer, except to an affiliated <br />entity, without the written consent of the Seller. <br />Section 15. Tax -Deferred Exchange: In the event Buyer or Seller desires to effect a tax-deferred <br />exchange in connection with the conveyance of the Property, Buyer and Seller agree to cooperate in <br />effecting such exchange, provided that the exchanging party shall be responsible for all additional costs <br />associated with such exchange, and provided further that a non -exchanging party shall not assume any <br />additional liability with respect to such tax-deferred exchange. Seller and Buyer shall execute such <br />additional documents at no cost to the non -exchanging party as shall be required to give effect to this <br />provision. Such exchange shall not delay the closing. <br />Section 16. Authority: Each signatory to this Agreement represents and warrants that he or she has full <br />authority to sign this Agreement and such other instruments as may be necessary to effectuate any <br />transaction contemplated by this Agreement on behalf of the party for whom he or she signs and that <br />his or her signature binds such party. <br />Section 17. Attorneys Fees: If legal proceedings are instituted to enforce any provision of this <br />Agreement, the prevailing party in the proceeding shall be entitled to recover from the non -prevailing <br />party reasonable attorneys fees and court costs incurred in connection with the proceeding. <br />BUYER: <br />SELLER: <br />Ind" ual ! Cabarrus County <br />-By <br />Date: '" County Manager <br />Page 5 of 6 <br />Buyer Initia Seller initials <br />AlUchmenl number 3 \n <br />G-4 Page 118 <br />
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