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Home My WebLink About2012-074 Attorney - Health System Properties LLC for Eastowne Parcel TrackMEMORANDUM OF UNDERSTANDING FOR HEALTH SYSTEM PROPERTIES ACQUISITIONS NOW COME Health System Properties, LLC, a corporate entity, and Orange County, a political subdivision of the State of North Carolina, together "the Parties", and acknowledge and agree to the following: 1. In return for good and valuable consideration, the receipt of which is hereby acknowledged, Health System Properties, LLC, has agreed to pay to Orange County, from 2012 forward, a sum equal to the 2011 property tax amount on a tract of land, located in Orange County, Chapel Hill, North Carolina, which Health System Properties purchased on January 6, 2012 ("Eastowne Parcel"), at the following location: being all of tract 3 containing 12.4252 acres +/- as shown on plat entitled "survey of tract 3, Eastowne Office Park", prepared by AI Prince & Associates, P.A., and recorded in book of maps 73, page 46, Orange County Registry, and also being all of Orange County Pin No. 9890807564. 2. The Parties agree that Health System Properties, LLC, will pay $42,055.64 as a fixed amount on an annual basis, upon receipt of an invoice from the Orange County Tax Collector Office, for the Eastowne Parcel. 3. The Parties agree that the $42,055.64 shall be distributed annually on a pro rata basis the same as tax receipts for any other similarly situated property would be distributed. 4. The Parties hereby agree that Health System Properties, LLC, will not pay any amount, annual or otherwise, for any future structures or equipment located in Orange County, Chapel Hill, North Carolina, on this Eastowne Parcel (Orange County Property Identifier 9890807564). 5. The Parties agree that this Memorandum will cease to apply to this Eastowne Parcel should Health System Properties, LLC, sell the parcel to an entity that is not a North Carolina governmental entity. 6. The Parties agree that this Memorandum constitutes and expresses the entire agreement and understanding between the Parties concerning the subject matter herein. This the day of 2012. Health System Properties, LLC Orange County ~~ B ~' ~ ~~ ~-- Y• Frank Clifton, Cou ty Manager By: William L. Roper, President MEMORANDUM OF UNDERSTANDING FOR HEALTH SYSTEM PROPERTIES ACQUISITIONS NOW COME Health System Properties, LLC, a corporate entity, and Orange County, a political subdivision of the State of North Carolina, together "the Parties", and acknowledge and agree to the following: 1. In return for good and valuable consideration, the receipt of which is hereby acknowledged, Health System Properties, LLC, has agreed to pay to Orange County, from 2012 forward, a sum equal to the 2011 property tax amount on a tract of land, located in Orange County, Chapel Hill, North Carolina, which Health System Properties purchased on January 6, 2012 ("Eastowne Parcel"), at the following location: being all of tract 3 containing 12.4252 acres +/- as shown on plat entitled "survey of tract 3, Eastowne Office Park", prepared by AI Prince & Associates, P.A., and recorded in book of maps 73, page 46, Orange County Registry, and also being all of Orange County Pin No. 9890807564. 2. The Parties agree that Health System Properties, LLC, will pay $42,055.64 as a fixed amount on an annual basis, upon receipt of an invoice from the Orange County Tax Collector Office, for the Eastowne Parcel. 3. The Parties agree that the $42,055.64 shall be distributed annually on a pro rata basis the same as tax receipts for any other similarly situated property would be distributed. 4. The Parties hereby agree that Health System Properties, LLC, will not pay any amount, annual or otherwise, for any future structures or equipment located in Orange County, Chapel Hill, North Carolina, on this Eastowne Parcel (Orange County Property Identifier 9890807564). 5. The Parties agree that this Memorandum will cease to apply to this Eastowne Parcel should Health System Properties, LLC, sell the parcel to an entity that is not a North Carolina governmental entity. 6. The Parties agree that this Memorandum constitutes and expresses the entire agreement and understanding between the Parties concerning the subject matter herein. This the day of 2012. Health System Properties, LLC Orange County By: ~ By: ~ ~ ~~~-~ ~ William L. Roper, President Frank Clifton, Co ty Manager MEMORANDUM OF UNDERSTANDING FOR HEALTH SYSTEM PROPERTIES ACQUISITIONS NOW COME Health System Properties, LLC, a corporate entity, and Orange County, a political subdivision of the State of North Carolina, together "the Parties", and acknowledge and agree to the following: 1. In return for good and valuable consideration, the receipt of which is hereby acknowledged, Health System Properties, LLC, has agreed to pay to Orange County, from 2012 forward, a sum equal to the 2011 property tax amount on a tract of land, located in Orange County, Chapel Hill, North Carolina, which Health System Properties purchased on January 6, 2012 ("Eastowne Parcel")at the following location: being all of tract 4 containing 20.5049 acres +/- as shown on plat entitled "survey of tract 4, Eastowne Office Park", prepared by AI Prince & Associates, P.A., and recorded in book of maps 73, page 142, Orange County Registry, and also being all of Orange County Pin No. 9890911209. The Parties agree that Health System Properties, LLC, will pay $38,534.52 as a fixed amount on an annual basis, upon receipt of an invoice from the Orange County Tax Collector Office, for the Eastowne Parcel. 3. The Parties agree that the $38,534.52 shall be distributed annually on a pro rata basis the same as tax receipts for any other similarly situated property would be distributed. 4. The Parties hereby agree that Health System Properties, LLC, will not pay any amount, annual or otherwise, for any future structures or equipment located in Orange County, Chapel Hill, North Carolina, on this Eastowne Parcel (Orange County Property Identifier 9890911209). 5. The Parties agree that this Memorandum will cease to apply to this Eastowne Parcel should Health System Properties, LLC, sell the parcel to an entity that is not a North Carolina governmental entity. 6. The Parties agree that this Memorandum constitutes and expresses the entire agreement and understanding between the Parties concerning the subject matter herein. This the day of 2012. Health System Properties, LLC Orange County. gy: X_~ ~ ~l.r ' , ~ /' / ) Frank Clifton, Coun y Manager By: William L. Roper, President