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016 <br /> 1. Orange County shall undertake financing of the local <br /> share of paving North Carolina State Road (s) #1194 and #1198, also <br /> known as Rollingwood Road and Stallings Road, in Chapel Hill <br /> Township, Orange County, North Carolina. <br /> 2. The basis for assessment for the local share of the <br /> costs of this project shall be frontage abutting the road at an <br /> equal rate per foot of frontage. <br /> 3. Orange County will assess the total local share <br /> according to the basis set out in number 2 above, which local <br /> share represents approximately ninety-nine and one-tenth percent <br /> (99.1%) of the total project cost. <br /> 4. No assessments of this project will be held in <br /> abeyance. <br /> 5. The assessments shall be paid in the following manner: <br /> a. Within thirty (30) days after the Notice of <br /> Confirmation of the Assessment Roll is published, each <br /> owner of the property may pay his or her assessment in <br /> full. <br /> b. Any assessment not paid in full as <br /> provided above <br /> shall be paid in five (5) equal annual installments with <br /> the first such installment, with interest, due sixty (60) <br /> days after the date that the assessment roll is confirmed, <br /> and the remaining installments, with interest, due on the <br /> same date in each successive year until the assessment is <br /> paid in full. <br /> i <br />