Orange County NC Website
Grant Agreement between County and ECD and agree that any conflict <br />between the provisions,_ requirements, duties or obligations o.f this <br />Agreement and the Community Development Grant Agreement shall be <br />resolved in favor of the Community Development Grant Agreement. <br />4.. Upon completion of the obligation of each party under this <br />Agreement, and the receipt of a Certificate of Completion from ECD, <br />the County shall notify HAHC in writing that all requirements have <br />been fulfilled thereby releasing HAHC from its development and CDBG <br />obligations herein stated. Upon repayment by HAHC of the $250,000 <br />loan provided by County to-HAHC, County agrees to return to HAHC <br />for itself and for Whitted Forest, or for successor organizations <br />to either, the promissory note and the deed of trust, both marked <br />"paid and satisfied in full;" or, County will in some other <br />appropriate manner cancel of record the deed of trust securing the <br />$250,000 debt. <br />5. This Development Agreement constitutes a legally enforceable <br />contract and shall be governed by and construed in accordance with <br />the laws of the State of North Carolina. <br />COUNTY OF ORANGE, N.C. <br />(SEAL) <br />ATTEST Zythe, Moses Carey, Jr. <br />erl <br />Bevy Clerk to Chairman, Orange C ty Board <br />the Board of of Commissioners <br />Commissioners <br />5 <br />