Laserfiche WebLink
13 <br />coos 15 ores 324 <br />REIMBURSEMENT CONTRACT <br />THIS CONTRACT, made this day in the year 1993, by and <br />between Lee Paving Company of Sanford, North Carolina, hereinafter <br />called the Developer and the County of Lee, North Carolina, <br />hereinafter called the County, <br />WITNESSETH <br />THAT WHEREAS the County has established a reimbursement policy <br />for certain water extensions and, <br />AND WHEREAS the Developer has completed a water extension that <br />can be reimbursed and Developer desires reimbursement under the <br />County's reimbursement policy, <br />AND WHEREAS the County agrees to reimburse the Developer under <br />the conditions of said ordinance and this contract, <br />AND WHEREAS the particulars of the project are as follows: <br />Project: Extension of Lee County Water System, a 6" waterline <br />from US1 approximately 1.2 mi. along Rocky Fork <br />Church Road to Lee Paving Company. <br />1. Total Cost: $49,340.00 <br />2. Total Length: 6270 feet <br />3. Total Benefiting Front Footage: 11,712 ft. <br />4. Cost Per Benefiting Front Foot: $4.21 <br />5. Outside Benefiting Front Footage: 11,197 ft. <br />6. Reimbursable cost: $47,139.00 <br />7. Prevailing Footage rate: $5.00 <br />NOW THEREFORE, THIS CONTRACT FURTHER WITNESSETH THAT, the County <br />will collect fees at the footage rate in (7) above. <br />THAT the County will reimburse the Developer an amount not to <br />exceed the reimbursable cost as stated in this contract under <br />particulars as fees are collected. <br />THAT any fees collected above the reimbursable cost or after <br />July 1, 1998, will be retained by the County and not reimbursed to <br />the Developer. <br />