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2 <br /> draft ' <br /> NORTH CAROLINA <br /> ORANGE COUNTY DEVELOPMENT AGREEMENT <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 Orange <br /> Community Housing Corporation, a North Carolina nonprofit corporation (hereinafter <br /> referred to as "OCHC"). The date of this Agreement is December 16, 1997. <br /> WITNESSETH <br /> WHEREAS, the Orange County HOME Consortium has designated $40,000 in FY <br /> 1996 and $40,000 in 1997 HOME funds for the purpose of enabling the Orange-Person- <br /> Chatham Mental Health Authority to acquire and rehabilitate rental property located in <br /> Orange County for lease to severely and persistently mentally ill County residents; and <br /> WHEREAS, the County is the lead entity of the Orange HOME Consortium, so <br /> designated in an agreement dated June 25, 1996, and amended September 20, 1996, <br /> and as such is the lead entity in a representative capacity for all members of the Orange <br /> HOME Consortium for the purposes of carrying out the HOME Program in accordance <br /> with the Title II of the Cranston-Gonzalez National Affordable Housing Act (Pub. L. 101- <br /> 625), (42 U.S.C. 3535(d.) el. =.) (hereinafter referred to as the "Act"), and as further <br /> defined in the Federal Program Requirements provided by the U.S. Department of <br /> Housing and Urban Development; and <br /> WHEREAS, the Orange-Person-Chatham Mental Health Authority has entered <br /> into a Memorandum of Agreement with the OCHC to administer this program on their <br /> behalf; and <br /> WHEREAS, OCHC has been designated as a Community Housing Development <br /> Corporation (CHDO) as defined in 24 CFR Part 92, Subpart A, Section 92.2, and intends <br /> to develop the Property for the purpose of constructing homeownership opportunities for <br /> five first-time homebuyers. <br /> NOW, THEREFORE, in consideration of the premises and the mutual covenants <br /> herein contained, the parties hereto do agree as follows: <br /> 1. OCHC agrees to acquire, repair and manage the tenancy at purchased property <br /> is the following manner. <br /> a. All prospective property must be inspected for health and safety defects <br /> prior to purchase. At a minimum, the property must meet the Section 8 <br /> Housing Quality Standards (HQS). <br /> b. If the dwelling fails to meet Section 8 Housing Quality Standards (HQS) <br /> and repairs are necessary, the sponsor is responsible for ensuring that <br /> the work is done properly. The dwelling must not be occupied by a <br />