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7 <br /> STATE OF NORTH CAROLINA <br /> COUNTY OF ORANGE <br /> FIRST AMENDMENT TO DEVELOPMENT AGREEMENT REGARDING <br /> SOUTH GREENSBORO STREET PROPERTY <br /> BY AND BETWEEN <br /> THE TOWN OF CARRBORO, NORTH CAROLINA <br /> AND <br /> THE COUNTY OF ORANGE, NORTH CAROLINA <br /> THIS FIRST AMENDMENT TO DEVELOPMENT AGREEMENT (the "First <br /> Amendment "), amends the original DEVELOPMENT AGREEMENT REGARDING SOUTH <br /> GREENSBORO STREET PROPERTY BY AND THE TOWN OF CARRBORO, NORTH <br /> CAROLINA AND THE COUNTY OF ORANGE, NORTH CAROLINA dated December 4, <br /> 2017, is made and entered into as of the day of , 2020, by and <br /> between the TOWN OF CARRBORO, a North Carolina municipal corporation, hereafter <br /> referred to as the "Town", and THE COUNTY OF ORANGE, a North Carolina county, <br /> hereafter referred to as the "County". Collectively, the Town and the County are sometimes <br /> referred to in this Agreement as the "Parties". <br /> W I TNESETH: <br /> WHEREAS, the County and the Town entered into the original Agreement dated as of <br /> December 4, 2017; and <br /> WHEREAS, pursuant to the original Agreement, the Town has entered into contracts for <br /> the design and construction of the proposed improvements for the Project on the Property; and <br /> WHEREAS, significant changes have been made to the plan for development of the <br /> Property which is the subject of the Agreement; and <br /> WHEREAS, the Parties wish to amend the Agreement as set forth herein to reflect the <br /> change in circumstances which have occurred since the execution of the Agreement; and <br /> WHEREAS, it is the intent of the Parties that except as amended by this First <br /> Amendment, the terms of the original Agreement shall remain in full force and effect; and <br /> WHEREAS, the Town is authorized to enter into this contract pursuant to, inter alia, the <br /> North Carolina General Statutes ("N.C.G.S.") 160A-16, and the County is authorized to enter <br /> into this contract pursuant to, inter alia, North Carolina General Statutes 153A-11, et seq., and <br /> the Town's Board of Aldermen and the County's Board of County Commissioners have each <br /> determined that it is in the best interests of their citizens to do so. <br /> NOW, THEREFORE, in consideration of the mutual promises and covenants contained <br /> herein and for other good and valuable consideration, the receipt and sufficiency of which is <br /> hereby acknowledged, the Town and the County intending to be legally bound do hereby agree <br />