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1 <br />NORTH CAROLINA <br />ORANGE COUNTY <br />DEVELOPMENT AGREEMENT <br />This is an AGREEMENT between ORANGE COUNTY,a local governmental political <br />subdivision of the State of North Carolina, (hereinafter referred to as the “County”) and <br />HABITATFOR HUMANITY OF ORANGE COUNTY, NC, INC.,a North Carolina non- <br />profit housing organization (hereinafter referred to as “Habitat”). The effective date of this <br />Agreement isJune 1, 2018. <br />WITNESSTH <br />WHEREAS, the Orange County HOME Consortium has designated $211,830in FY 2017- <br />18HOME funds to provide funding for second mortgage funding for eleven(11)newly constructed <br />homes located in Orange Countyinthe Fairview Community in Hillsborough and Tinnin Woods <br />subdivision in Eflandwhicharehereinafter designated collectively as “the Property” or “the <br />Properties”;and <br />WHEREAS, Orange County is the lead entity of the Orange 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 "Act"), <br />and as further defined in the Federal Program Requirements provided by the U.S. Department of <br />Housing and Urban Development; and <br />WHEREAS,Habitatis constructing the housing units on the Properties for first-time <br />homebuyers earning between 30% and 65% of HUD area median income described in Habitat’s <br />FY 2017-18Application for Funding,Orange County HOME Program dated,January 31, 2017 <br />which ishereby incorporated into this Agreementas if written herein, and hereafter referred to as <br />“The Project.” A copy of the 2017-18HOME Program Applications areon file in the office of <br />the Orange County Housing and Community Development Department; and <br />WHEREAS,Habitatintends to assisteleven(11)first-time homebuyers,whoearn <br />between 30% and 65% of HUD area median income,to purchase the newly constructed housing <br />unitsat the Properties; and <br />WHEREAS,a first-time homebuyer for the purposes of this program is defined as any <br />low income household that has not owned a home within the pastthree(3) yearsincluding <br />households living in manufactured housing not permanently affixed to a foundation, or owner- <br />occupants of homes not feasible for rehabilitation and has lived or worked in Orange County for <br />at least one year prior to the home purchase; <br />DocuSign Envelope ID: 12C19140-2C02-498E-AD84-772B4830D31B