Agenda 1-17-17 Reg. Meeting - Laserfiche WebLink

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010 signs within the intersection that promotes the park. Payment to made at the time of execution of this agreement. Once improvements are made, the County will have no authority to maintain said improvements. If SAGA does not spend the entire $370,000 on the improvements or signage, then SAGA will return any unpaid monies to the County. Lee County and SAGA agree that a monthly update will be given to the County Commissioners on the progress of constructing these improvements to Central Carolina Enterprise Park. This update will be given at the first monthly meeting of the Commissioners. 4. It is understood that the Central Carolina Enterprise Park and Triassic Park are being constructed to promote new business growth into Lee County and the County is granting this money to SAGA for the purpose of promoting the marketability of the site for the public benefit of the County. If this site is ever used for any other purpose, not public in nature, the County has the right to demand a refund of monies expended. 5. SAGA agrees to the following: To select, supervise and oversee the improvements agreed to in this contract and to ensure that all road improvements are made to DOT standards. SAGA will be responsible for obtaining all appropriate building, environmental, State, and any other permits required for this project. The County does not have any ownership or duty to maintain any road improvements made as a result of this loan. After construction, the County will not have any duty or responsibility to maintain such improvements. Maintenance of said improvements will be the responsibility of SAGA. There will be no liability of the County for any said road improvements made from monies spent under this loan. C. To inform the Commissioners of any changes to the plans for improvements to the intersection and signage, prior to those changes being implemented. All change orders which require an increase in the cost of the project will be the responsibility of SAGA. d. To keep accurate, thorough, and detailed records of the expenditure of funds appropriated by the County for this project. At the end of the project SAGA will provide the County with an itemized summary of all expenses with the project. SAGA will also add this project as a single audit in their annual audit report which a copy will be provided to the Commissioners by January 152 of each year. e. To cooperate fully with the County's auditors in their annual examination of county expenditures. f. Iran -Divestment Certification: Company certifies that Company is not listed on the Iran Final Divestment List created by the North Carolina State Treasure pursuant to N.C.G.S. 147-86.58 (the "Final Divestment List"). Further, Company's subcontractor, if utilized, will also not be listed on the Final Divestment List. The Final Divestment List can be