Orange County NC Website
mortgage assistance which shall be documented by a Promissory Note from the <br /> homebuyer to the County which note shall be secured by a Deed of Trust on the <br /> Properties naming the County as beneficiary. The County agrees to subordinate its <br /> Deed of Trust lien to a lien securing private permanent financing acquired by the <br /> homebuyer. <br /> 2. Exhibit B: Scope of Services shall be amended to add funding for FY 2011-2012 and <br /> FY 2012-13 as follows: <br /> HOME funds will be used for pre-development costs for a nine (9) acre tract located <br /> in the Efland Cheeks Township in Orange County. The proposed plan for the <br /> property will yield approximately 28 single family lots. Five homes will constructed <br /> on the property in accordance with the Habitat for Humanity HOME Program <br /> application dated February 24, 2011. Another five homes will be constructed in <br /> accordance with the February 27, 2012 Habitat for Humanity HOME Program <br /> Application. All homes will be sold to qualified first-time homebuyers earning 65% <br /> with the exception of two homes that will be sold to persons at 80% or less of the <br /> AMI. <br /> 3. Exhibit C: Source of Funds shall be amended to total$146,592 in Orange County <br /> HOME Funds. <br /> Except for the changes made to Sections II, Exhibit B and Exhibit C herein, the Original <br /> Agreement shall remain in full force and effect to the extent it is not inconsistent with this <br /> Amendment. In the event that there is a conflict between the Original Agreement and this <br /> Amendment,this Amendment shall control. <br /> IN WITNESS WHEREOF, the parties hereto, intending to be legally bound, have set their hands <br /> and seals on the day and year first above written. <br /> [SIGNATURES PAGE TO FOLLOW] <br /> 2 <br />