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0 0 <br />BOOK 21 PAGE 3;c7 <br />has agreed to lease the Site and all buildings, improvements and fixtures located and to be <br />located thereon to the Board of Education; <br />WHEREAS, pursuant to Section 153A-158.1, as amended, of the General Statutes of <br />North Carolina, as the same applies to the County, the County may (i) acquire by any lawful <br />method the fee or any lesser interest in real or personal property for use by the Board of <br />Education and (ii) construct, equip, expand, improve renovate, or otherwise make available <br />property for use by the Board of Education; and <br />WHEREAS, the County desires to undertake the financing and construction of the 2006 <br />School Project, but desires that the Board of Education oversee and manage on behalf of the <br />County the construction of the 2006 School Project, and the Board of Education is willing to <br />undertake such obligation; <br />NOW, THEREFORE, in consideration of the premises and of the mutual agreements and <br />covenants contained herein and for other valuable consideration, the parties hereto do hereby <br />agree as follows: <br />Section 1. Su ervisio of the 2006 School Protect b the Board of Education. <br />Notwithstanding that the County shall enter into all construction contracts and similar <br />agreements relating to the acquisi ion, construction and equipping of the 2006 School Project, the <br />County and the Board of Education hereby agree that the Board of Education shall have <br />supervisory power ("Supervisory Power"), subject to the consent provision as set forth in Section <br />3 hereof, in connection with the acquisition, construction and equipping of the 2006 School <br />Project. The Board of Education shall use its best efforts to cause the acquisition, construction <br />and equipping of the 2006 School Project to be accomplished in an expeditious manner in <br />accordance with the plans and specifications therefor in compliance with all construction <br />contracts and other agreements entered into by the County in connection with the 2006 School <br />Project and with any applicable laws or regulations. <br />Section 2. Covenants as to the Completion of the 2006 School Project. In <br />consideration of the grant of Supervisory Power by the County to the Board of Education <br />pursuant to Section 1 hereof, the County and the Board of Education hereby agree as follows in <br />connection with the construction, acquisition and equipping of the 2006 School Project by the <br />Board of Education: <br />(a) As applicable, the Board of Education shall comply with the provisions of law, <br />including all applicable laws relating to the procurement of construction and equipment through <br />competitive bidding, and to work jointly with the County for the purpose of causing the County <br />to enter into one or more construction contracts, agreements or purchase orders providing for the <br />acquisition, construction and equipping of the 2006 School Project. The Board of Education <br />shall, on behalf of the County, obtain all orders, permits or similar governmental approvals <br />necessary for the acquisition, construction and equipping of the 2006 School Project and for <br />operation of the 2006 School Project as a public school. The Board of Education shall cause the <br />acquisition, construction and equipping of the 2006 School Project to be carried on <br />expeditiously in accordance with the plans and specifications therefor, all applicable ordinances <br />2 <br />