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BK:00025 PG:0599 <br />4. COUNTY TAX COLLECTOR DUTIES. The County Tax Collector shall have complete responsibility <br />for the collection of current and delinquent ad valorem property taxes and delinquent special <br />assessments for Municipality. The County Tax Collector will exercise the general duties on <br />behalf of the municipality as set forth in North Carolina General Statutes §105 -350 and further <br />has the right to use all remedies as set forth in N.C.G.S. Chapter 105, Articles 10 and 26. <br />a. Municipality agrees that the County Tax Collector shall be authorized to use all lawful <br />means to collect the ad valorem property taxes on behalf of Municipality. Municipality <br />agrees to extend full cooperation from its officials, agents and employees in the <br />collection of these taxes and further agrees to take no action on behalf of any municipal <br />taxpayer that is influenced by personal or political friendships or obligations. <br />b. Municipality agrees to take such action as maybe required by North Carolina General <br />Statutes to give County Tax Collector and his /her assistants and clerks the authority to <br />administer the collection of Municipality ad valorem taxes and to carry out the <br />provisions of this agreement. <br />5. FORECLOSURE SALES. When real property is sold at foreclosure sales for collection of ad <br />valorem taxes, County agrees to use reasonable efforts to assure that the opening bid is <br />sufficient to pay both the Municipal and County ad valorem property taxes, including taxes, <br />penalties, interest, and such cost as accrued prior to the institution of the foreclosure action. In <br />the event the property is sold for an amount not sufficient to satisfy both the Municipal and <br />County taxes, including penalties, interest and cost, the money shall be distributed as follows: <br />a. County shall be reimbursed first for actual expenses and disbursements made by it in <br />connection with foreclosure action, including cost of advertising, legal fees, and other <br />necessary legal expenses. Any balance remaining after the payment of these expenses <br />shall be distributed to the County and Municipality in proportion of their respective <br />interests. <br />b. In the event the County shall become the purchaser at the foreclosure sale, the property <br />shall be held and disposed of pursuant to N.C.G.S. §105- 376(b). <br />6. DELIVERY OF RECEIPTS, RELEASES AND PREPAYMENT. County agrees that in collecting ad <br />valorem taxes for Municipality, pursuant to N.C.G.S. §105 -354, these taxes shall be treated in <br />the same manner as taxes of the County. The Tax Collector agrees, as to these taxes, to follow <br />all procedures as set forth in Article 26, Collection and Foreclosure of Taxes, for the delivery of <br />receipts, releases and prepayment. The County Tax Administrator will provide to the County <br />Finance Director by 10:00 a.m. each day a.report showing the prior day's collections for the <br />Municipality. The collections will include all taxes and garbage fees. The County Finance <br />Director will by 12:00 noon transfer the appropriate funds to the Municipality's account at the <br />North Carolina Cash Management Trust if the amount exceeds $2,000. If the amount does not <br />