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4 <br /> certain zoning text amendments, administrative modifications and/or binding interpretations <br /> must be made pursuant to the Town's Land Use Ordinance so that all local government permits <br /> for the project can be issued; and <br /> WHEREAS, the Town is authorized to enter into this contract pursuant to, inter alia, the <br /> North Carolina General Statutes ("N.C.G.S.") 160A-16, and the County is authorized to enter <br /> into this contract pursuant to, inter alia, North Carolina General Statutes 153A-11, et seq., and <br /> the Town's Board of Aldermen and the County's Board of County Commissioners have each <br /> determined that it is in the best interests of their citizens to do so. <br /> NOW, THEREFORE, in consideration of the mutual promises and covenants contained <br /> herein and for other good and valuable consideration, the receipt and sufficiency of which is <br /> hereby acknowledged, the Town and the County intending to be legally bound do hereby agree <br /> as follows: <br /> ARTICLE I <br /> Definitions <br /> (a)"Agreement" shall have the meaning set forth in the preamble. <br /> "County" means Orange County, North Carolina. <br /> "Common Area" means portions of the Facilities constructed on the Property (but <br /> not the land itself) that are necessary for the Parties to function as occupants of the space. <br /> Common areas include but are not limited to stairwells, emergency egress areas, building <br /> lobbies, elevator services, restroom facilities, and equipment rooms housing electric, <br /> mechanical and other building systems. <br /> "Condominium" means the designation of portions of the Property for separate <br /> ownership and the remainder of which is designated for common ownership solely by the <br /> owners of those portions, consistent with Chapter 47C of the North Carolina General <br /> Statutes. <br /> "Condominium documents" means the declaration of covenants and restrictions <br /> governing the condominiums proposed for the Property, including the description and <br /> delegation of rights and obligations of the Town, the County and any other potential <br /> condominium owner regarding access to and use of parking spaces, common areas and other <br /> common elements described in such documents. These documents also include the <br /> organizational and operating documents that will guide the condominium association <br /> regarding the operation, maintenance, and other business associated with the Property. <br /> "Development" means the planning, design and construction by the Town and the <br /> County of the Facilities on the Property. <br /> "Development Permit" means a building permit, zoning permit, subdivision <br /> approval, special or conditional use permit, variance, or any other official action <br /> of Local Government having the effect of permitting the development of the <br /> 2 <br />