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3 <br />Drag 10/25/04 <br />STATE OF NORTH CAROLINA <br />COUNTY OF ORANGE <br />MEMORANDUM OF AGREEMENT <br />TOWN OF HILLSBOROUGH <br />COUNTY OF ORANGE <br />REGARDING PLANNING FOR FAIRVIEW PARK, COiJNTY <br />PARKS OPERATIONS BASE AND <br />TOWN AND COUNTY PUBLIC WORKS FACILITIES <br />THIS AGREEMENT, made and entered into between the Town of Hillsborough, North <br />Carolina, a North Carolina municipal corporation, 101 East Orange Street, Hillsborough, North <br />Carolina 27278 (hereinafter referred to as the "Town"), and Orange County, a body politic and <br />corporate, a political subdivision of the State of North Carolina, 200 South Cameron Street, <br />Hillsborough, North Carolina 27278 (hereinafter referred to as the "County"), for the ,joint <br />development of a park and public facility campus.. <br />WHEREAS, the parties to this agreement are public bodies, politic and corporate, under the laws <br />of the State of North Carolina; and <br />WHEREAS, the pazties aze vested with the power and authority to own and improve real estate <br />for recreational and other public purposes; and <br />WHEREAS, the Fairview area of Hillsborough has a designated park site (hereafter "the <br />Fairview park site") that was established as part of the Community Revitalization effort funded <br />tlrrough Community Development block Grants in the 1980s, and identified in both the County <br />and Town Comprehensive Plans; and <br />WHEREAS, limited facilities have been constructed at the Fairview park site, including a <br />playground and playing field; and <br />WHEREAS, the 2001 Park and Open Space Bond for Orange County included $850,000 for <br />plamring and construction of the Fairview park site; and <br />WHEREAS, the Town and County both own property including and in the immediate vicinity of <br />the Fairview park site, including the Orange County Public Works facility, totaling 92 acres; and <br />WHEREAS, the Town and County recognize the mutual benefit and interest of the pazties <br />hereto, and to the public generally, in the construction of pazlc and community facilities on the <br />