HomeMy WebLinkAboutC.054.93011_0441U.S.C. sections 1801 et seq.), the Resource Conservation and Recovery Act, as amended (42
U.S.C. sections 9601 et seq.), and the regulations adopted and publications promulgated pursuant
thereto. Hazardous Materials shall not include materials used by the County in connection with
its operation of any of its public works or water/sewer system, provided such materials are
properly handled and contained in accordance with applicable federal and state laws.
"Implement," "Implementing," "Implementation," or any other grammatical form
thereof, when used in connection with the Project, means design, acquire, renovate, construct,
install and equip, as the case may be.
"Installment Payments" means the payments payable by the County pursuant to
Section 4.3 during the Term.
"Lender" means Bank of America, N.A., a national banking association, and any
successor or assignee thereof.
"LGC" means the North Carolina Local Government Commission, a division of the
North Carolina Department of State Treasurer.
"Manager" means the officer of the County charged from time to time with preparing the
annual budget of the County.
"Moody's" means Moody's Investors Service, Inc. a New York corporation, its
successors and assigns.
"Net Proceeds" means the gross proceeds from any insurance recovery, condemnation or
eminent domain award or amounts- recovered by the County under Section 3.5(g) hereof
remaining after payment of all expenses (including attorneys' fees) incurred in the collection of
such gross proceeds.
"Payment of Installment Payments" means payment in full of all Installment Payments
due and to become due to and including the final scheduled payment date.
"Permitted Encumbrances" means collectively those title exceptions listed on Exhibit B
to the Deed of Trust.
"Project," whether one or more, means the transaction or set of transactions more
particularly described on Exhibit A attached hereto and all substitutions therefor, replacements
thereof and additions thereto, and all reasonably necessary or convenient associated equipment
and other personal property or fixtures, such description as may be amended from time to time.
"Project Costs" shall be deemed to include payment of or reimbursement for the
following items:
(a) the actual cost of labor, materials, machinery and equipment as payable to
contractors, builders and materialmen in connection with the acquisition, construction,
renovation, installation and equipping of the Project;
(b) governmental charges levied or assessed during installation upon the Project or on
any property acquired therefor, and premiums on insurance in connection with the Project during
construction;
(c) fees and expenses of architects and engineers for estimates, surveys and other
preliminary investigations, preparation of plans, drawings and specifications and supervision of
construction, as well as for the performance of all other duties of architects and engineers in
relation to the construction of the Project;
(d) costs of issuance and expenses of administration, supervision and inspection
properly chargeable to the Project, legal expenses and fees, financing charges and all other items
not elsewhere specified in this section incident to the acquisition, construction, renovation,
installation and equipping of the Project;
(e) all other costs which are considered to be a part of the costs of the construction,
acquisition, installation and equipping of the Project, in accordance with generally accepted