Orange County NC Website
f <br /> 2 <br /> NORTH CAROLINA <br /> ORANGE COUNTY DEVELOPMENT AGREEMENT <br /> ", <br /> D ru L U <br /> This is an AGREEMENT between ORANGE COUNTY, a general local governmental <br /> unit of the State of North Carolina, (hereinafter referred to as the "County") and Habitat for <br /> Humanity of Orange Co., NC, Inc., a North Carolina nonprofit corporation (hereinafter referred <br /> to as "Habitat"). This agreement will not become effective until all conditions placed upon the <br /> County's funding approval are satisfied and funds are released by the N.C. Department of <br /> Commerce-Division of Community. The date of this Agreement is <br /> WITNESSETH <br /> WHEREAS, Habitat owns a parcel of approximately 4.67 acres located in the Cheeks <br /> Township of Orange County more particularly described in Exhibit A attached hereto and made a <br /> part of this Agreement(hereinafter referred to as the "Property"); and hereinafter referred to as"the <br /> Property"; and <br /> WHEREAS, Habitat desires to improve the Property by constructing homeownership <br /> opportunities for first-time homebuyers, in accordance with all applicable legal requirements and <br /> the Charter and Bylaws of Habitat, for sale to low and moderate income families; and <br /> WHEREAS, Orange County desires to participate in this project and has received a <br /> Community Development Block Grant (CDBG) from the N.C. Department of Commerce <br /> Division of Community Assistance (DCA) in the amount of $145,750 to be used for the <br /> provision of public water and sewer and street paving on the Property; and <br /> NOW, THEREFORE, in consideration of the premises and the mutual covenants herein <br /> contained,the parties hereto do agree as follows: <br /> 1. Habitat agrees to execute its responsibilities identified in the County's CDBG application <br /> to DCA dated March 20, 1996 (Exhibit B). <br /> 2. Habitat further agrees to construct no fewer than five (5) houses for low and moderate <br /> income families and complete sales of the homes by July 8, 1998. With prior approval <br /> from DCA,this commitment may be partially waived by the County, if failure to meet the <br /> commitment is determined to be due to events beyond the control of the Developer <br /> including, but not limited to, an unfavorable, unforeseable occurrences of severe <br /> economic conditions and where such waiver will not substantially affect the project as <br /> described in the application. <br /> 3. The County agrees to execute its responsibilities as defined in the approved grant <br /> application as amended(Exhibit B) and Grant Agreement within the times set forth <br /> therein. <br />