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NORTH CAROLINA <br /> DEVELOPMENT AGREEMENT <br /> ORANGE COUNTY <br /> This is an AGREEMENT between ORANGE COUNTY, a body politic and corporate, a <br /> political subdivision of the State of North Carolina, (hereinafter referred to as the "County") and <br /> INTER-FAITH COUNCIL FOR SOCIAL SERVICE, INC. a North Carolina non-profit <br /> corporation, (hereinafter referred to as "IFC" or "Sublessee"). The effective date of this <br /> agreement is May 15, 2014. <br /> WITNESSTH <br /> WHEREAS, the Orange County HOME Consortium has designated approximately <br /> $500,000 in HOME funds to assist in the construction of a transitional living facility for <br /> homeless men with 50 plus beds known as Community House Men's Transitional Housing <br /> Facility in Chapel Hill; and <br /> WHEREAS, the County is the lead entity of the Orange County HOME Consortium, so <br /> designated in an agreement dated July 1, 2011 and as such is the lead entity in a representative <br /> capacity for all members of the Orange HOME Consortium for the purposes of carrying out the <br /> HOME Program in accordance with the Title H of the Cranston-Gonzalez National Affordable <br /> Housing Act (Pub. L. 101-625), (42 U.S.C. 3535(d) et. seq.) (hereinafter referred to as the <br /> "Act"), and as further defined in the Federal Program Requirements provided by the U.S. <br /> Department of Housing and Urban Development;and <br /> WHEREAS, the Community House Men's Transitional Housing Facility (hereinafter <br /> referred to as "the Project"), a new 50 plus bed facility for homeless men individuals owned by <br /> IFC, serving 50+ low income individuals earning less than 50% of the Area Median Income and <br /> which will remain affordable for low income families throughout the term of the 99 year period <br /> of affordability; and <br /> WHEREAS, the Community House Transitional Housing Facility will be located at <br /> 1315 Martin Luther King, Jr. Blvd. in Chapel Hill, NC on property as more particularly <br /> described in EXHIBIT A(hereinafter referred to as"the Property"); and <br /> WHEREAS, on March 28, 2013, the Town of Chapel Hill and the State of North <br /> Carolina entered into a Land Lease (hereinafter referred to as "the Lease") for the Property, <br /> which Lease has been recorded in Deed Book 5579 beginning at Page 143 in the Office of the <br /> Register of Deeds for Orange County,North Carolina; and <br /> WHEREAS, on April 4, 2013, the Town of Chapel Hill and Inter-Faith Council for <br /> Social Service, Inc. entered into an Agreement for Sublease of Property (hereinafter referred to <br /> as "the Sublease") for the Property, which Agreement has been recorded in Deed Book 5584 <br /> beginning at Page 271 in the Office of the Register of Deeds for Orange County,North Carolina; <br /> and <br /> 1 <br />