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Home My WebLink About2024-061-E-Finance Dept-Larry D. Reid- Community Loans for Sewer Connection Finance & Administrative Services 131 W Margaret Lane, Suite 300 Hillsborough, NC 27278 Page 1 of 5 Orange County Billing General Terms and Conditions Version Date 07/07/23 BILLING SERVICES AGREEMENT THE PARTIES. This Payment Installment Agreement (“Agreement”) made this February 1st, 2024 (“Effective Date”), is by and between: Customer: Mr. and Mrs. Larry D Reid, Sr. with a mailing address of 1819 Purefoy Drive, Chapel Hill, NC 27516, thereids1980@gmail.com, (“Customer”) and acknowledges that they owe money to: County: Orange County, North Carolina, with a mailing address of 131 W Margaret Lane, Suite 300, Hillsborough, NC 27278, 919-245-2150, finance-billing@orangecountync.gov (“County”). The Customer and County agree to the following repayment plan: BALANCE. At the time of the Effective Date, the Customer owes the County ($10,000 per property) $20,000 (“Balance”) related to: (check one) ☐ - Small Business Loan Program ☒ - Sewer Connection Loan Program ☐ - Services described as: [DESCRIBE] ☐ - Other: [OTHER] INTEREST RATE. The Total Amount shall: (check one) ☐ - Bear Interest. The Total Amount shall bear interest at a rate of [#]% compounded: (check one) ☐ - Annually ☐ - Monthly ☐ - Other: [OTHER] ☒ - NOT Bear Interest. There shall be no interest associated with the Total Amount. The Customer’s only obligation to the County is to repay the principal balance. DocuSign Envelope ID: 9D6310B2-1C81-4AD7-80E9-4B5237EBBDB4 Finance & Administrative Services 131 W Margaret Lane, Suite 300 Hillsborough, NC 27278 Page 2 of 5 Orange County Billing General Terms and Conditions Version Date 07/07/23 REPAYMENT PLAN. The Customer agrees to repay the Total Amount to the County under the following: (check one) ☐ - Weekly Payments. The Customer agrees to repay the County a payment of $[AMOUNT] on the [DAY] of each week until the Balance and any applicable interest are repaid in full. ☒ - Monthly Payments. The Customer agrees to repay the County a payment of ($83.33 per property) $166.66 on the 1st of each month until the Balance and any applicable interest are repaid in full. ☐ - Lump Sum. The Customer agrees to repay the County, in full, on the date of [DATE]. ☐ - Other. [OTHER] PAYMENT INSTRUCTIONS. The Customer is required to pay the County under the following payment instructions: [DESCRIBE] LATE PAYMENT. If the County receives payment more than 5 days beyond the day payment is due, payment is late. If a payment is late, the Customer may be: (check one) ☒ - Charged a Late Fee. The Customer may be charged a late fee. ☐ - Not Charged a Late Fee. The Customer shall not be charged a late fee. SECURITY. As part of this Agreement, the Customer agrees to: (check one) ☐ - Pledge Security. The Customer agrees to secure this Agreement by pledging the following collateral: [DESCRIBE] (“Security”). In the event the Customer defaults under this Agreement, the County shall obtain possession of the Collateral equal to the amount owed of which a sale may be required. ☒ - Not Pledge Security. This Agreement shall not be secured by any property or asset of the Customer. DocuSign Envelope ID: 9D6310B2-1C81-4AD7-80E9-4B5237EBBDB4 Finance & Administrative Services 131 W Margaret Lane, Suite 300 Hillsborough, NC 27278 Page 3 of 5 Orange County Billing General Terms and Conditions Version Date 07/07/23 REMEDIES. No delay or omission on the part of any party to this Agreement in exercising any right hereunder shall operate as a waiver of any such right or of any other right of such party, nor shall any delay, omission, or waiver on any one occasion be deemed a bar to or waiver of the same or any other right on any future occasion. The rights and remedies of the County shall be cumulative and may be pursued singly, successively, or together, at the sole discretion of the County. ACCELERATION. The County shall have the right to declare the Total Amount to be immediately due and payable, including interest owed, if any of the following events occur: a. Late Payment. If any payment is late that is due under the Payment Schedule as provided above; or b. Default. If the Customer should default on any of the conditions of this Agreement; or c. Security Transfer. If assets or property that are pledged as Security as part of this Agreement are transferred or sold. SUBORDINATION. The Customer’s obligations under this Agreement are subordinated to all indebtedness, if any, of the Customer, to any unrelated third- party to the extent such indebtedness is outstanding on the date of this Agreement and such subordination is required under the loan documents providing for such indebtedness. WAIVERS BY CUSTOMER. All parties to this Agreement, including the Customer and any sureties, endorsers, and guarantors, hereby waive protest, presentment, a notice of dishonor, and a notice of acceleration of maturity and agree to continue to remain bound for the payment of principal, interest and all other sums due under this Agreement notwithstanding any change or changes by way of release, surrender, exchange, modification or substitution of any Security for this Agreement or by way of any extension or extensions of time for the payment of principal and interest; and all such parties waive all and every kind of notice of such change or changes and agree that the same may be made without notice or consent of any of them. DISPUTES. In the event any payment under this Agreement is not paid when due, the Customer agrees to pay, in addition to the principal and interest hereunder, reasonable attorney’s fees not exceeding a sum equal to the maximum usury rate limit in the State of North Carolina of the then outstanding DocuSign Envelope ID: 9D6310B2-1C81-4AD7-80E9-4B5237EBBDB4 Finance & Administrative Services 131 W Margaret Lane, Suite 300 Hillsborough, NC 27278 Page 4 of 5 Orange County Billing General Terms and Conditions Version Date 07/07/23 balance owing on the Borrowed Amount, plus all other reasonable expenses incurred by the County in exercising any of its rights and remedies upon default. SEVERABILITY. If any provision of this Agreement or the application thereof shall, for any reason and to any extent, be invalid or unenforceable, neither the remainder of this Agreement nor the application of the provision to other persons, entities, or circumstances shall be affected, thereby, but instead shall be enforced to the maximum extent permitted by law. GOVERNING LAW AND VENUE. This Agreement shall be construed and governed by the laws of the State of North Carolina and any action brought to enforce the terms of this Agreement shall be brought in the general court of justice sitting in Orange County, North Carolina. SUCCESSORS. All of the foregoing is the promise of Customer and shall bind Customer and Customer’s successors, heirs, and assigns. ENTIRE AGREEMENT. This Agreement contains all the terms agreed to by the parties relating to its subject matter, including any attachments or addendum. This Agreement replaces all previous discussions, understandings, and oral agreements. The Customer and County agree to the terms and conditions and shall be bound until the Balance and any applicable interest are repaid in full. DocuSign Envelope ID: 9D6310B2-1C81-4AD7-80E9-4B5237EBBDB4 Finance & Administrative Services 131 W Margaret Lane, Suite 300 Hillsborough, NC 27278 Page 5 of 5 Orange County Billing General Terms and Conditions Version Date 07/07/23 IN WITNESS WHEREOF, Customer and County have executed this Agreement as of the day and year first above written. Customer’s Signature Customer Name: ______________________ Signature: ___________________ Date: __/__/____ County’s Signature Chief Financial Officer Name: ______________________ Signature: ___________________ Date: __/__/____ County Manager Name: ______________________ Signature: ___________________ Date: __/__/____ DocuSign Envelope ID: 9D6310B2-1C81-4AD7-80E9-4B5237EBBDB4 2/1/2024 Gary Donaldson Bonnie Hammersley 2/1/2024 Larry Reid 2/4/2024 Revised 04/23 1 ORANGE COUNTY—INTERNAL USE ONLY ______________________________________________________________________________ Finance Information Vendor Name: Larry D. Reid, SR Vendor Contact Person: Larry Reid Phone: Address: 1819 Purefoy Drive & 8006 Sandberg Lane City Chapel Hill State: NC Zip: 27516 Department: Finance Amount: $20,000 Purpose: Community Loans for Sewer Connection Budget Code(s): 94940020-900200 Vendor # 63860 Vendor Status with NCSOS: Vendor is a BOCC consultant: Yes No Contract Details Contract Type: New Amendment (Original Contract: ) (Most Recent Amendment ) Effective Date: 02/01/2024 End Date: When the balance and any applicable interest are repaid in full to the County with payments of $166.66 made on the first of each month Notice Date 02/01/2024 Award Approved by Board (Agenda Date: ); Made or Administered by Signature Authority - BOCC Express Delegation (Agenda Date: ) - Policy 9.4: Under $5,000; Service Under $90,000; Construction Under $250,000 - Budget Policy Section XV (Capital Improvement Project: ) Bidding Informal Bidding ($30k-$90k); Formal RFP ($90k+); Other (<$30k); Exception(# ) Department Affirmation This agreement is approved as to technical form and content and I as Department Director affirmatively state work on this project has not been initiated prior to execution of the agreement. Services related to this agreement have already begun or been completed. Description of the nature of the emergency condition that was addressed: Department Director’s Signature ________________________________________ Date: ________ Information Technologies This agreement has been reviewed and is approved as to information technology content and specifications: Office of the Chief Information Officer___________________________________ Date: ________ Inapplicable because no hardware/software purchases or related services Risk Management This agreement is approved for sufficiency of insurance standards, specifications, and requirements: Office of the Risk Management Officer___________________________________ Date: _________ Financial Services This instrument has been pre-audited in the manner required by the Local Government Budget and Fiscal Control Act: Office of the Chief Financial Officer ____________________________________ Date: _________ Legal Services This agreement is approved as to legal form and sufficiency: Office of the County Attorney __________________________________________Date: ________ Clerk to the Board All Docusign contracts must be copied to the Clerk upon completion: occlerkdocs@orangecountync.gov The following signature block is for hard copies only and is not required for Docusign contracts: Received for record retention: Office of the Clerk to the Board __________________________________________Date:_________ DocuSign Envelope ID: 9D6310B2-1C81-4AD7-80E9-4B5237EBBDB4 2/1/2024 2/1/2024 2/1/2024 FINANCE and ADMINISTRATIVE SERVICES Gary Donaldson, CTP, Chief Financial Officer | gdonaldson@orangecountync.gov | PO Box 8181 NC 27278 | 919.245.2453 Orange County Government | www.orangecountync.gov | 919.732.8181 November 10, 2023 Mr. and Mrs. Larry Reid 1819 Purefoy Drive Chapel Hill, NC 27516 RE: Historic Rogers Road Sewer Loans Approval Letter Dear Mr. and Mrs. Reid, Congratulations, the Department of Finance has reviewed your request for a loan for sewer connection for the two referenced properties below: 1819 Purefoy Drive, Chapel Hill, NC 27516 and 8006 Sandberg Lane, Chapel Hill, NC 27516 Your loan request for sewer connection on both properties has been approved. This is a zero-interest loan up to a maximum term of ten years with monthly repayment in the amount of $83.33 for each property. The final loan amount and due date will be finalized through an electronic loan agreement. Please do not hesitate to contact me at 919-245-2453 if you have any questions. Sincerely, Gary Donaldson Chief Financial Officer DocuSign Envelope ID: 9D6310B2-1C81-4AD7-80E9-4B5237EBBDB4