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2001 NS Housing - Impact Fee Reimbursement Agreement
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2001 NS Housing - Impact Fee Reimbursement Agreement
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Last modified
10/31/2012 9:23:00 AM
Creation date
10/15/2012 4:51:15 PM
Metadata
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Template:
BOCC
Date
6/19/2001
Meeting Type
Regular Meeting
Document Type
Agreement
Agenda Item
8q
Document Relationships
Agenda - 06-19-2001-8q
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\Board of County Commissioners\BOCC Agendas\2000's\2001\Agenda - 06-19-2001
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20 <br /> EXHIBIT D -- PAYMENT SCHEDULE <br /> Payment Schedule To Agreement and Deed of Trust dated as of , <br /> 2001 (the "Agreement"), granted by , to Geoffrey <br /> E. Gledhill, Deed of Trust Trustee, for the benefit of Orange County, North Carolina. <br /> The amount of the payment required to repay the reimbursement made pursuant to the <br /> Agreement is the Amount Reimbursed plus interest at an annual rate equal to 10% from the event <br /> that prompts payment as defined herein and in the Agreement. <br /> Payment is due if and when the Mortgaged Property ceases being used at any time during <br /> the ninety-nine year period from the Closing Date, for housing for families earning up to 80% of <br /> HUD area median income as described in Section 4.14 of the Agreement. <br /> lsg:orangecounty\affordablehousingdeedoftrust.doc <br /> 20 <br />
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