Agenda - 12-20-94 - VIII-D - Laserfiche WebLink

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2 NORTH CAROLINA AMENDMENT #1 ORANGE COUNTY DEVELOPMENT AGREEMENT This is an AGREEMENT AMENDMENT between ORANGE COUNTY, a general local governmental unit of the State of North Carolina, (hereinafter referred to as the "County") and ORANGE COMMUNITY HOUSING CORPORATION, a North Carolina nonprofit corporation (hereinafter referred to as "OCHC"). The date of this Agreement Amendment is , 1994. WITNESSETH WHEREAS, the Orange HOME Consortium was awarded $50,000 in October, 1992, for the purpose of conveying these funds to OCHC to purchase four lots in Abbotts Colony subdivision, and WHEREAS, the County is the lead entity of the Orange HOME Consortium, so designated in an agreement dated August 27, 1992, and amended January 26, 1993 and as such shall act as the lead entity in a representative capacity for all members of the Orange HOME Consortium for the purposes of carrying out the HOME Program in accordance with the Title II of the Cranston-Gonzalez National Affordable Housing Act (Pub. L. 101-625), (42 U.S.C. 3535(d.) et. seq.) (hereinafter referred to as the "Act"), and as further defined in the State Program Requirements for funding provided directly by the State; and WHEREAS, the County, as Lead Entity, entered into a Development Agreement with the Orange Community Housing Corporation to for Abbotts Colony on or about July 27, 1993; NOW, THEREFORE, the County and Orange Community Housing Corporation agree that Section 1 a. of the Agreement is amended to read as follows: 1.a. OCHC shall then market and sell the lots, construct homes for the selected buyers, and complete the sale of the homes on the first three lots by September 30, 1995. IN WITNESS WHEREOF, the parties hereto, intending to be legally bound, have set their hands and seals on the day and year first above written.