2003 - 04-07-03 Regular Meeting - Laserfiche WebLink

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• STATE OF NORTH CAROLINA COUNTY OF LEE r~ ~a nox 9 r:CF 2,92 AGREEMENT TO CONVEY ASSETS THIS AGREEMENT, made and entered into this day of 2003, by and between the COUNTY OF LEE, hereinafter referred to as "County", and SANFORD-LEE COUNTY VOLUNTEER RESCUE SQUAD, INC., hereinafter referred to as "Rescue Squad." WITNESSETI-I: WHEREAS, the Rescue Squad is a nonprofit corporation franchised by the County to provide back-up emergency medical services as well as heavy rescue and extrication services to the citizens of Lee County from July 1, 2002 until June 30,2003; and WHERI=AS, the County has elected to contract with the Fire Departments in Lee 'County to provide vehicle extrication and other rescue services; and WHEREAS, the Rescue Squad has expressed its intentions to dissolve and convey to the County all assets of the Rescue Squad subject to the payment and satisfaction of all liens and claims against said property; and WHEREAS, the County is willing to make payment for and satisfy all liens and claims against said Rescue Squad property under the terms and conditions hereinafter set forth; and NOW, THEREFORE, in consideration of the premises and the mutual promises herein contained, the parties have agreed as follows: The County hereby agrees to make payment for the unpaid balance on the business loan secured through Branch Banking and Trust Company and to make payment on any unpaid utility bills or other outstanding operating debt in effect at the time of the execution of this agreement. 2. The Rescue Squad agrees to convey to the County all assets currently in its possession, including vehicles, equipment and supplies. The Rescue Squad further agrees to surrender to the County all vehicle and equipment maintenance records, operating instructions and any warranty information applicable to existing assets at the time of the execution of this agreement. 3. Immediately following the execution of this document the Rescue Squad shall imnatc the procedure dictated by N.C. General Statute § 55A-12-02 to