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<br />REFUND AGREEMENT <br /> <br />.~ <br /> <br />Comes now the Civil Town ofMooresville, hereinafter called "Town", and comes <br /> <br /> <br />also Sun Polymers International, hereinafter called "Developer", and the parties hereby <br /> <br /> <br />enter into the following Refund Agreement pursuant to the Civil Town of Mooresville's <br /> <br /> <br />Ordinance 2-1994, an Ordinance Establishing Contribution Requirements for Developers <br /> <br /> <br />and New Users of the Town ofMooresville's Sewer System. <br /> <br />WHEREAS, Developer is developing certain real property in the Civil Town of <br />Mooresville; <br /> <br />WHEREAS, Developer will be installing a 12 inch sanitary sewer collection <br /> <br /> <br />extension that is not required for the Developer's project, the Developer will also over <br /> <br /> <br />size a lift station for use off site of the project, install a 12 foot wide aggregate access road <br /> <br /> <br />and Developer will also over size sanitary sewer force main to connect to the Town's <br /> <br /> <br />existing sewer collection system, all of which meets the requirements of Section I, <br /> <br />Paragraph B, Additional Funds Contributed Under the Town's Ordinance 2-1994 for <br /> <br /> <br />funds that would be refundable, without interest, ftom the Developer Availability Account <br /> <br /> <br />Deposit; <br /> <br />WHEREAS, it is expressly understood that any refunds under Ordinance 2-1994 <br /> <br />will be repaid only ftom funds deposited in the Sewage Collection Fund on the basis of <br /> <br /> <br />first in, first out, and that the Town in no way guarantees the refund ofsaid funds. <br />