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3qa <br /> NORTH CAROLINA <br /> ORANGE COUNTY <br /> DEVELOPMENT AGREEMENT <br /> This is an AGREEMENT between ORANGE COUNTY, a local governmental political <br /> subdivision of the State of North Carolina, (hereinafter referred to as the "County") and <br /> HABITAT FOR HUMANITY OF ORANGE COUNTY, NC, INC., a North Carolina non- <br /> profit housing organization (hereinafter referred to as "Habitat"). The effective date of this <br /> Agreement is 2-01/6. <br /> WITNESSTH <br /> WHEREAS, the Orange County HOME Consortium has designated $250,000 in FY 2014 <br /> HOME funds to provide funding for second mortgage funding for nine (9) newly constructed <br /> homes located in Orange County in the Northside neighborhood in Chapel Hill, the Fairview <br /> Community in Hillsborough and the Tinnin Woods subdivision in Hillsborough which are <br /> hereinafter designated collectively as"the Property"or"the Properties"; and <br /> WHEREAS, Orange County is the lead entity of the Orange 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 II of the Cranston-Gonzalez National Affordable <br /> Housing Act (Pub. L. 101-625), (42 U.S.C. 3535(d.) et. M.) (hereinafter referred to as the "Act"), <br /> and as further defined in the Federal Program Requirements provided by the U.S. Department of <br /> Housing and Urban Development; and <br /> WHEREAS, Habitat is constructing the housing units on the Properties for first-time <br /> homebuyers earning between 30% and 65% of HUD area median income described in Habitat's <br /> FY 2014 Application for Funding, Orange County HOME Program dated, February 24, 2014 <br /> which is hereby incorporated into this Agreement as if written herein, and hereafter referred to as <br /> "The Project". A copy of the 2014 HOME Program Application is on file in the office of the <br /> Housing, Human Rights and Community Development Department; and <br /> WHEREAS, Habitat intends to assist nine (9) first-time homebuyers, who earn between <br /> 30% and 65% of HUD area median income, to purchase the newly constructed housing units at <br /> the Project located in either the Northside neighborhood in Chapel Hill, the Fairview Community <br /> in Hillsborough or Tinnin Woods Community in Efland; and <br /> WHEREAS, a first-time homebuyer for the purposes of this program is defined as any <br /> low income household that has not owned a home within the past five (5) years including <br /> households living in manufactured housing not permanently affixed to a foundation, or owner- <br /> occupants of homes not feasible for rehabilitation and has lived or worked in Orange County for <br /> at least one year prior to the home purchase; <br /> 1 <br />