Agenda - 12-06-2012 - 3 - Laserfiche WebLink

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in ei�her case withaut the consent of the ather Greene Tract Ownera. To the extent permitted by law, Chapel Hill agrees not to initiate any proceeding to , rezone any portian of the Greene Tract - during the "baxgaining period," wi.thout the cansent of the ather Greene Tract Owners. ChapeX Hill states its current intent to ac�ommodate any agreed-v.pon future uses or r�nge of uses of the rema.inder of the Greene Tract in its Development Code/Ordina.nces and statea its recommend.a.tion to future • Chapel Hill Gaverning Boards to the sam.e effect. After the °barg�ining periad" is c�mpleted, namely, the day after the laat day af the barga�.ning periad, no Greene Trac� owner shall (1) file any 1:ega1 action or proceeding to force any sale or divisian of the Greene Tract, or (2) enter in�o any agreement to sell, martgage or atherwise transfer all or any part af ite ownership interest i.n the Greene Tract, in either � case without . giv-ing the ather Greene Tract �wners at least 60 days' priar notice of� such filing or entering inta an agreement. • In addition, after the "bargaining period° is completed, any Greene Tr.act Own.er may give 60 days' prior n,ota.ce af an election to be no longer bound b� the above restrictions pertaining to the uses of azzd whether to impose use restrictians on the remainder of the Greene Tract, and such electian shall be effective at� the end af the notice period. The Parties agree that any non System use of any portion of the remainder of the Greene Tract or any dispositian of any portion of the remainder o� the Greene Tract sha7.l resul't in payment ta the County of the Reimbursement Amount for deposit in the System enterprise fun.d. - � 4. By amending the date in the firat paragraph vf Part 7 to read - 5. By amending subsectian (c? of the "Members; Terms" provision of Exhibit C to the Agreement to read as followrs: (c) The first year of the term of each initial member of the Advisory Board shall be deemed to expire on June 30, 2001. Thereafter, each yeax of the term of an Advisory Board member will run from July 1 through the subgequent June 30, but each member shall continue to sexve vntil such member's succesgar has been duly agpointed and qualified for affice.