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NORTH CAROLINA <br /> DEVELOPMENT AGREEMENT <br /> ORANGE COUNTY <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 /> and, Habitat for Humanity , Orange County, NC , Inc . , a North Carolina non-profit corporation <br /> (hereinafter referred to as the "Habitat") ; and FANNIE LOUISE CORBETT CRISP and <br /> husband , MELVIN CRISP (hereinafter referred to as " Crisps ") , together Habitat and Crisps <br /> shall hereinafter be joint and severally referred to as " Grantee" . The effective date of this <br /> agreement is December 4 , 2017 . <br /> WITNESSTH <br /> WHEREAS , the Orange County Board of Commissioners on September 5 , 2017 <br /> approved the conveyance to Grantee of a single family residence valued at seventy three <br /> thousand and five hundred dollars ($ 73 , 500 ) and a loan in the amount of up to sixty- eight <br /> thousand dollars ($ 68 , 000) , subject to the terms of County ' s , Long Term Affordable Housing <br /> Policy, and occupied by a low to moderate income family ; and <br /> WHEREAS , the Grantee will place single family resident structure on property located <br /> at 526 Locust Road, Hillsborough, North Carolina (hereinafter referred to as "the Project") to be <br /> used as housing for a family at less than 80 % of the Area Median Income . The Project dwelling <br /> unit is located on the property more particularly described in EXHIBIT A. which is attached <br /> hereto and made a part of this Agreement (hereinafter referred to as "the Property") ; and <br /> WHEREAS , notwithstanding any provision of this Agreement, the County and the <br /> Grantee 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, as applicable . The parties further agree that <br /> the provision of such funds to the project is conditioned on Orange County ' s determination to <br /> proceed with, modify, or cancel the project based on the results of a subsequent environmental <br /> review, as applicable . <br /> NOW, THEREFORE, in consideration of the mutual covenants , promises , and representations <br /> contained herein, it is agreed between the parties hereto as follows : <br /> I . USE OF HOME FUNDS/SUBSIDY TYPE <br /> A . The Grantee shall perform the projects or tasks related to its allocation of Orange County <br /> Single - Family Housing Rehabilitation funds as provided in Exhibit B . Scope of Services <br /> and within the Project Budget outlined in Exhibit C . Exhibits B and C , are attached and <br /> are hereby made a part of this Agreement, as it now reads or as it may be modified by the <br /> parties . <br /> 1 <br />