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0 cum 15 47, Drawn by and
<br />mail to:
<br />Kenneth R. Hoyle Sr.
<br />Lee County Attorney
<br />P.O. Box 1968
<br />Sanford, N.C.
<br />27331-1968
<br />STATE OF NORTH CAROLINA )
<br />TERMINATION OF DOCUMENT BY
<br />COUNTY OF LEE ) MUTUAL CONSENT
<br />THIS AGREEMENT, made and entered into this day of February,
<br />1993, by and between the COUNTY OF LEE, a body both politic and
<br />corporate under the laws of the State of North Carolina, whose
<br />mailing address is P.O. Box 1968, Sanford, North Carolina,
<br />27331-1968, party of the first part, and FLOYD BROWNE ASSOCIATES, an
<br />Ohio general partnership with its principal office in Marion, Ohio,
<br />whose mailing address is P.O. Box 587, Marion, Ohio, 43301-0587,
<br />party of the second part, and SOUTHERN NATIONAL BANK OF NORTH
<br />CAROLINA, a banking corporation chartered under the laws of the
<br />United States of America with its principal office in Winston-Salem,
<br />North Carolina, and a branch office in Sanford, North Carolina, whose
<br />mailing address is P.O. Box 190, Sanford, North Carolina, 27331-0190,
<br />party of the third part;
<br />WITNESSETH:
<br />WHEREAS, the parties hereto entered into a contract dated August
<br />10, 1987, which said contract incorporated certain provisions of an
<br />agreement between Floyd Browne Associates, Inc., and Lee County for
<br />funding, design-build of a water treatment plant, and also in said
<br />banks security instrument from Floyd Browne Associates; and
<br />WHEREAS, the County of Lee has purchased the water treatment
<br />plant from Floyd Browne Associates and the obligations held by
<br />Southern National Bank of North Carolina have been retired; and
<br />WHEREAS, Lee County desires that as of this date, said contract
<br />between the parties be terminated and cancelled, and the other
<br />parties have agreed thereto;
<br />NOW, THEREFORE, each of the said parties, in consideration of
<br />the agreement herein made by the other, does hereby agree that said
<br />contract be and the same is by mutual consent terminated and
<br />cancelled as of this date, and each of said parties does hereby
<br />release and forever discharge the other from any and all other and
<br />further liability under said contract.
<br />~l
<br />In Testimony Whereof, Floyd Browne Associates, an Ohio general
<br />partnership, has caused this instrument to be executed in its
<br />
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