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NORTH CAROLINA <br />DEVELOPMENT AGREEMENT <br />ORANGE COUNTY <br /> <br /> <br />This is an AGREEMENT between ORANGE COUNTY, a body politic and corporate, a <br />political subdivision of the State of North Carolina, (hereinafter referred to as the “County”), <br />EmPOWERment, Inc., a North Carolina non-profit corporation (hereinafter referred to as <br />“Owner”). The effective date of this agreement is September 21, 2018. <br /> <br />WITNESSTH <br /> <br />WHEREAS, the Orange County HOME Consortium has designated up to Forty-Six <br />Thousand Five Hundred dollars ($46,500) in FY 2015-16 HOME funds to assist in the <br />relocation of a low-income single family residence in Hillsborough, North Carolina; and <br /> <br />WHEREAS, the Orange County Board of Commissioners on September 5, 2017 <br />approved the conveyance to Owner of a single family residence valued at Ninety-three Thousand <br />Six Hundred dollars ($93,600), subject to the terms of County’s Long Term Affordable Housing <br />Policy, and leased to a low to moderate income family; and <br /> <br />WHEREAS, the County is the lead entity of the Orange County HOME Consortium, so <br />designated in an agreement dated July 1, 2011 and as such is the lead entity in a representative <br />capacity for all members of the Orange HOME Consortium for the purposes of carrying out the <br />HOME Program in accordance with the Title II of the Cranston-Gonzalez National Affordable <br />Housing Act (Pub. L. 101-625), (42 U.S.C. 3535(d) et. seq.) (hereinafter referred to as the <br />“Act”), and as further defined in the Federal Program Requirements provided by the U.S. <br />Department of Housing and Urban Development; and <br /> <br />WHEREAS, the Owner owns the property located at 507 Terrell Road, Hillsborough, <br />North Carolina and will place single family residence structure on the property (hereinafter, <br />along with the HOME Program Application mentioned below, referred to as “the Project”) to be <br />used as rental housing for a veteran whose family is less than 60% of the Area Median Income. <br />The Project dwelling unit is located on the property more particularly described in EXHIBIT A, <br />which is attached hereto and made a part of this Agreement (hereinafter referred to as “the <br />Property”); and <br /> <br /> WHEREAS, the Owner agrees to utilize HOME funds provided for the purpose of <br />rehabilitating the Property as described in its HOME Program application dated February 20, <br />2015 which is hereby incorporated into and made part of this Agreement; and <br /> <br /> WHEREAS, notwithstanding any provision of this Agreement, the County and the <br />Owner hereto agree and acknowledge that this Agreement does not constitute a commitment of <br />funds or site approval, and that such commitment of funds or approval may occur only upon <br />satisfactory completion of an environmental review and receipt by Orange County of a Release <br />of Funds from the U.S. Department of Housing and Urban Development under 24 CFR Part §58 <br />DocuSign Envelope ID: 1DB0D1D0-6B1C-4086-81CB-264D8410FEAB