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12.5 Payments Due on Holidays. If the date for making any payment or the last day for <br />performance of any actor the exercising of any right as provided in this Lease shall not be a Business Day, <br />such payment may be made or act performed or right exercised on the next day that is a Business Day <br />with the same force and effect as if done on the nominal date provided in this Lease. <br />12.E Severability. In the event that any provision of this Lease, other than the requirement of <br />the County to provide quiet enjoyment of the Leased Property, shall be held invalid or unenforceable by <br />any court of competent jurisdiction, such holding shall not invalidate or render unenforceable any other <br />provision hereof. <br />12.7 Execution in Counterparts. This Lease may be simultaneously executed in several <br />counterparts, each of which shall be an original, and all of which shall constitute but one and the same <br />instrument. <br />12.8 Conflict of Laws. This Lease shall be governed by and construed in accordance with the <br />laws of the State of North Carolina. <br />12.9 Captions. The captions or headings herein are for convenience offered and in no way <br />define, limit or describe the scope or intent of any provisions or sections of this Lease. <br />12.10 Memorandum of Lease. At the request of either party, the County and the Board of <br />Education may, on or before the Closing Date, execute a memorandum of this Lease legally sufficient to <br />comply with the relevant provisions of the North Carolina General Statutes. <br />12.11 Limited Obligation Refunding Bonds Series 2024B Insurer Provisions. Notwithstanding <br />any other provision of this Lease to the contrary, this Lease and any sublease or assignment shall be <br />subject to immediate termination at the direction of the Insurer (as defined in the Installment Financing <br />Contract dated as of November 1, 2024 between County and the Cabarrus County Development <br />Corporation), in the event of default by the County or such Corporation under such contract. All rights of <br />the Board of Education or any sublessee or assignee shall terminate upon such termination. This Lease or <br />any sublease or assignment may not be a Permitted Encumbrance under the Deed of Trust incident to <br />issuance of the Limited Obligation Refunding Bonds Series 2024B, if, in the opinion of insurer's counsel, <br />the presence of such encumbrances would impair any ability to exercise remedies under the Contract or <br />the Deed of Trust, including the right to foreclosure under the Deed of Trust. This Lease or any sublease <br />or assignment is subject to the Deed of Trust. All Permitted Encumbrances must be acceptable to the <br />Insurer, including the Permitted Encumbrances to the title insurance policy. <br />[Signatures begin on next page] <br />W <br />63112517.5-(Marilyn McKinley) <br />Page 324 <br />