Orange County NC Website
Browse       Search
in either case without the consent of the other Greene <br />Tract Owners. To the extent permitted by law, Chapel Hill <br />agrees not to initiate any proceeding to rezone any <br />portion of the Greene Tract during the "bargaining <br />period," without the consent of the other Greene Tract <br />Owners. Chapel Hill states its current intent to <br />accommodate any agreed-upon future uses or range of uses <br />of the remainder of the Greene Tract in its Development <br />Code/Ordinances and states its recommendation to future <br />Chapel Hill Governing Boards to the same effect. <br />After the "bargaining period" is completed, namely, <br />the day after the last day of the bargaining period, no <br />Greene Tract Owner shall (1) file any legal action or <br />proceeding to force any sale or division of the Greene <br />Tract, or (2) enter into any agreement to sell, mortgage <br />or otherwise transfer all or any part of its ownership <br />interest in the Greene Tract, in either case without <br />giving the other Greene Tract Owners at least 60 days' <br />prior notice of such filing or entering into an agreement. <br />In addition, after the "bargaining period" is completed, <br />any Greene Tract Owner may give 60 days' prior notice of <br />an election to be no longer bound by the above <br />restrictions pertaining to the uses of and whether to <br />impose use restrictions on the remainder of the Greene <br />Tract, and such election shall be effective at the end of <br />the notice period. <br />The Parties agree that any non System use of any <br />portion of the remainder of the Greene Tract or any <br />disposition of any portion of the remainder of the Greene <br />Tract shall result in payment to the County of the <br />Reimbursement Amount for deposit in the System enterprise <br />fund. <br />4. By replacing the date in the first paragraph of Part <br />7 with the following: "one month after the effective date of <br />this Agreement." <br />5. By amending subsection (c) of the "Members; Terms" <br />provision of Exhibit C to the Agreement to read as follows: <br />(c) The first year of the term of each initial member <br />of the Advisory Board shall be deemed to expire on June <br />30, 2001. Thereafter, each year of the term of an Advisory <br />Board member will run from July 1 through the subsequent <br />June 30, but each member shall continue to serve until <br />such member's successor has been duly appointed and <br />qualified for office. <br />3 <br />