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(d) That the County owned a 4.505 acre tract which was leased by the County to Lowrance Pursuant
to that certain Lease recorded in Deed Book 234, Page 14, and terminated on Deed Book 725,
Page 834, which tract appears as Tract One on that certain Deed recorded in Deed Book 725, Page 839
(hereinafter referred to as the "Deed");
(e) That Lowrance conveyed and released its said properties in order that the County might
subsequently convey the same to the Hospital in order that the Hospital might purchase the said
properties and thereby assure the continued operation of a hospital facility on the said properties
consisting of a total of 5.876 acres;
(f) That the conveyance by the County to the Hospital was made subject to the terms and
conditions set forth in N.C.G.S. 131E-13; that the statute has .been reviewed by the County Attorney
and it is his opinion that the release of the property from the restrictions is proper, based on a
consideration of all matters and things related to the release;
(g) That the said statute requires that the Hospital continue to provide hospital services to
its patients including emergency services for the indicant and that the Hospital continue to provide
care in the same or similar manner as provided by Lowrance prior to the sale of the said property to
the Hospital;
(h) That the said statute further requires that the Hospital assure that indigent care remain
available in the area previously served by Lowrance; that financial admission policies would not be
enacted to deny treatment to the indigent; that recipients of the Medicaid/Medicare benefits would
continue to be admitted without discrimination and that the Hospital would continue to maintain a
general community hospital open to the general public and free of discrimination based on race,
creed, color, sex or national origin;
(i) That said statute further stated that if the Hospital should fail to perform the duties,
obligations and restrictions placed upon it by the county, then in such event, the property would
revert to the County; f».�
(i) That, as aforesaid, the total acreage conveyed to the Hospital by the Deed from the County
was 5.876 acres, more or less, which said acreage is substantially larger than that needed by the
Hospital to continue to carry out its obligations and responsibilities as set forth in the Deed to
it;
(k) That the Hospital does desire to convey to certain physicians upon its staff (hereinafter
referred to as "Physicians") a tract consisting of 0.8728 acres which shall be utilized by the
Physicians to construct thereon and operate thereafter a medical office complex; that attached
hereto as Exhibit "C" is a copy of the contract between the Physicians and the Hospital made
pursuant to a resolution of the Hospital passed by its Board of Directors authorizing the said
conveyance;
(1) That the said proposed conveyance to the Physicians shall in no manner deterimentally
affect the ability of the Hospital to continue to comply with its obligations and responsibilities
regarding the providing of continued non-discriminatory medical services to the area served by the
Hospital but rather that the proposed conveyance to the Physicians will enhance the ability of the
Hospital to deliver these said non-discriminatory services;
(m) That after a conveyance the Hospital will continue to own in excess of 4 acres of real
property which it could utilize for further expansion of the hospital facility if needed;
(n) That attached hereto and incorporated herein by reference as Exhibit "D" is an appraisal
of the said real property which the Hospital did obtain from a qualified real estate appraiser who
determined the fair market value of the property to be $111,600.00;
(o) That the Physicians are paying the full appraised fair market price
for the property and inasmuch as the full value of the property is being received and it is deter-
mined that the property is not needed or necessary for the Hospital to continue to provide its
services, it is appropriate for the said property to be released from the provisions of the Deed "
recorded in Deed Book 725, Page 839.
(p) That Chicago Title Insurance Company has consented to issue title insurance to insure the
property being transferred by the Hospital to the physicians, thereby rendering its opinion that the
transaction as proposed is proper in every respect; that attached hereto as Exhibit "E" is a letter
from the said title insurance company agreeing to issue title insurance.
NOW, THEREFORE, based on careful consideration of the foregoing, the Board of Commissioners
does herewith adopt the following resolution:
UPON MOTION DULY MADE, (NO SECOND REQUIRED) AND PASSED, IT SHALL BE AND IT IS HEREBY RESOLVED:
1. That Iredell County, by and through its Board of Commissioners, shall release 0.8728 acre
as described in Exhibit "A" attached hereto from the restrictions and provisions of that certain
Deed recorded in Deed Book 725, Page 839, Iredell County Registry, and pursuant thereto, Mooresville
Hospital Management Associates, Inc., may sell and convey said property to the said physicians named
in the attached Contract for the sum of One Hundred Eleven Thousand Six Hundred Dollars
($111,600.00) provided that the said conveyance is in accordance with the attached Contract of Sale
between the Hospital and the said physicians.
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