HomeMy WebLinkAboutS Tax Payment Agreement between Orange County and AlterVue, LLC NORTH CAROLINA
TAX PAYMENT AGREEMENT
ORANGE COUNTY
THIS TAX PAYMENT AGREEMENT is made this 1 day of March, 2015 by and between
Orange County, North Carolina (the "County"), AlterVue, LLC, its successors and assigns ("AlterVue")
and Robert C.Nickerson("Nickerson").
WHEREAS, the County owns property located in Orange County having PIN 9865621043 (the
"County Base Tract"); and
WHEREAS, AlterVue owns property adjacent to the County Property having PIN 9865529132
(the"AlterVue Base Tract"); and
WHEREAS, the County and AlterVue have agreed to a property exchange whereby the County
will transfer to AlterVue an approximately 6,633 square foot portion of the County Base Tract which such
property is more fully described on Exhibit A attached hereto and incorporated herein (the "New
AlterVue Property") , and AlterVue will transfer to the County an approximately 143 square foot portion
of the AlterVue Base Tract which such property is more fully described on Exhibit B attached hereto and
incorporated herein(the"New County Property"); and
WHEREAS, in partial consideration for the exchange AlterVue has agreed to pay when due any
and all 2015 ad valorem taxes associated with the AlterVue Base Tract (including, but not limited to the
New County Property) and the New AlterVue Property.
WHEREAS, Nickerson, as a member of AlterVue is a beneficiary of the property exchange
contemplated hereby; and
WHERES, the parties desire to provide for the payment of taxes for the AlterVue Base Tract and
the AlterVue Property for 2015 and to provide assurances that the current year's taxes on the same will be
paid on or before January 5, 2016.
NOW, THEREFORE, in consideration of the mutual terms and conditions contained herein and
for other good and valuable consideration,the receipt and sufficiency of which are hereby acknowledged,
the parties hereto agree as follows:
AlterVue and Nickerson shall pay any and all ad valorem taxes due on the AlterVue Base Tract
(including, but not limited to the New County Property) and the New AlterVue Property on or before
January 5, 2016.
IN WITNESS WHEREOF, Seller and Buyer have caused this instrument to be executed as of the
day and year first above written.
Orange County,North Carolina AlterVue,LLC
?- lA --
By: By:
Title: 0 co Title: N _-jt_
Robert C.Nick rson,Individual
EXHIBIT A
Description of New A1terVue Property
BEING all of those certain parcels labeled Area 1 (containing 735 sq.ft. more or less), Area 2
(containing 200 sq.ft. more or less), and Area 4 (containing 5,698 sq.ft. more or less)all as shown
on that certain plat prepared by John C.Atkins Land Surveyor titled"Exempt Recombination Plat
For ALTERVUE, LLC & ORANGE COUNTY, NC" recorded in Book ,
page of the Orange County Registry.
EXHIBIT B
BEING all of Area 3, containing 143 square feet, more or less, as shown on the plat entitled
"EXEMPT RECOMBINATION PLAT FOR: ALTERVUE, LLC. & ORANGE
COUNTY" as shown on the plat recorded at Plat Book ,Page , Orange
County Registry,to which plat reference is hereby made for a more particular description.