Orange County NC Website
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 />