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DocuSign Envelope ID:758215CF-OA18-45F8-8807-AB9OF35D5BA2 <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 /> HABITAT FOR 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 is April 8, 2019 <br /> WITNESSTH <br /> WHEREAS, the Orange County HOME Consortium has designated $60,000 in FY <br /> 2018-19 HOME funds to provide funding for second mortgage assistance for two (2) newly <br /> constructed homes located in Orange County in the Fairview Community in Hillsborough and <br /> Tinnin Woods subdivision in Efland which are hereinafter designated collectively as "the <br /> Property" or "the 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, Habitat is constructing the housing units on the Properties for first-time <br /> homebuyers earning between 30% and 65% of HUD area median income described in <br /> Habitat's FY 2018-19 Application for Funding, Orange County HOME Program dated, <br /> February 6, 2018 which is hereby incorporated into this Agreement as if written herein, and <br /> hereafter referred to as "The Project." A copy of the 2018-19 HOME Program Applications are <br /> on file in the office of the Orange County Housing and Community Development Department; <br /> and <br /> WHEREAS, Habitat intends to assist two (2) first-time homebuyers, who earn between <br /> 30% and 65% of HUD area median income, to purchase the newly constructed housing units at <br /> 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 past three (3) years <br /> including households living in manufactured housing not permanently affixed to a foundation, <br /> or owner-occupants of homes not feasible for rehabilitation and has lived or worked in Orange <br /> County for at least one year prior to the home purchase; <br /> I <br />