2021-011-E Housing-HOME FY19-20 Development Agreement - Habitat

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DocuSign Envelope ID:837C993F-4D81-4CE1-8185-B2C0610EDD8B NORTH CAROLINA ORANGE COUNTY DEVELOPMENT AGREEMENT This is an AGREEMENT between ORANGE COUNTY, a local governmental political subdivision of the State of North Carolina, (hereinafter referred to as the "County") and Habitat for Humanity of Orange County, a North Carolina housing organization(hereinafter referred to as "the HOME Awardee"). The effective date of this Agreement is December 21, 2020. WITNESSTH WHEREAS, the Orange County HOME Consortium has designated $181,000 in FY 19- 20 HOME funds to provide funding for second mortgage assistance for at least six (6)homes located in Orange County, specifically in the Fairview Community in Hillsborough and the Northside Neighborhood in Chapel Hill, which are hereinafter designated collectively as "the Property" or"the Properties"; and WHEREAS, Orange County is the lead entity of the Orange HOME Consortium, so designated in an agreement dated July 1, 2011, and as such is the lead entity in a representative capacity for all members of the Orange HOME Consortium for the purposes of carrying out the HOME Program in accordance with the Title II of the Cranston-Gonzalez National Affordable Housing Act(Pub. L. 101- 625), (42 U.S. C. 3 5 3 5( d.) et. seq.) (hereinafter referred to as the "Act"), and as further defined in the Federal Program Requirements provided by the U.S. Department of Housing and Urban Development; and WHEREAS, the HOME Awardee is constructing the housing units on the Properties for first-time homebuyers earning between 30% and 80% of HUD area median income described in the HOME Awardee's FY 19-20 Application for Funding, Orange County HOME Program dated, February 2, 2019, which is hereby incorporated into this Agreement as if written herein, and hereafter referred to as "The Project."A copy of the HOME Program Applications are on file in the office of the Orange County Housing and Community Development Department; and WHEREAS, the HOME Awardee intends to assist at least six (6) first-time homebuyers, who earn between 30% and 80% of HUD area median income, to purchase the housing units at the Properties; and WHEREAS, a first-time homebuyer for the purposes of this program is defined as any low income household that has not owned a home within the past three (3) years including households living in manufactured housing not permanently affixed to a foundation, or owner- occupants of homes not feasible for rehabilitation and has lived or worked in Orange County for at least one year prior to the home purchase; WHEREAS, notwithstanding any provision of this Agreement, the County and the HOME Awardee hereto agree and acknowledge that this Agreement does not constitute a commitment of funds or site approval, and that such commitment of funds or approval may occur 1