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Rev August 8, 2018 <br />Exhibit C <br /> <br />Attachment 1 <br /> <br /> <br />STATE OF NORTH CAROLINA <br />ORANGE COUNTY <br /> <br />HOME INVESTMENT PARTNERSHIPS PROGRAM (HOME) <br />ORANGE COUNTY HOME CONSORTIUM <br />A qualified HOME Program Consortium <br /> <br />DEFERRED LOAN AGREEMENT <br /> <br /> THIS AGREEMENT, made this ____day of ____________, _____ by and between <br />_____________________ and ________________________ (“Owner”) OWNERS; and <br />Orange County, a local political subdivision of the State of North Carolina located in Orange <br />County, North Carolina (“County”). <br /> <br />RECITALS <br /> <br />WHEREAS, Rebuilding Together of the Triangle, Inc. (“Contractor”) has received a <br />HOME Investment Partnership funds to assist Orange County homeowners earning less than <br />80% of HUD’s area median income, to make critical repairs and rehabilitation of their principal <br />residence; and <br /> <br />WHEREAS, the Owner’s principal residence located at, ______________, and more <br />particularly described in Attachment A, Legal Description is need of funds to make critical <br />repairs or rehabilitation of their principal residence (“Project”); and <br /> <br />WHEREAS, County has agreed to provide the Owner with a deferred loan, forgivable <br />at the end of the term of the loan (“the Loan”) to make critical repairs or rehabilitation of <br />Owner’s principal residence as provided in Attachment B, Scope of Work and Budget. <br /> <br />NOW THREREFORE, County and Owner agree to the following terms and conditions: <br /> <br />AGREEMENT <br /> <br />1. LOAN. The amount of the Loan is $__________. All properly authorized change <br />orders will be incorporated herein as an attachment hereto and must be signed by the <br />Homeowner, the Housing and Community Development Director, the Finance Director <br />and the Contractor. <br /> <br />2. RECEIPT AND DISBURSEMENT OF LOAN FUNDS. Contractor shall receive <br />Loan funds on behalf of Owner from the Orange County HOME Funds. County shall <br />DocuSign Envelope ID: 62EC95C2-2AA8-49D7-B576-F94193C9DB65