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STATE OF NORTH CAROLINA COUNTY OF ORANGE FIRST AMENDMENT TO DEVELOPMENT AGREEMENT REGARDING SOUTH GREENSBORO STREET PROPERTY BY AND BETWEEN THE TOWN OF CARRBORO, NORTH CAROLINA AND THE COUNTY OF ORANGE, NORTH CAROLINA THIS FIRST AMENDMENT TO DEVELOPMENT AGREEMENT (the "First Amendment "), amends the original DEVELOPMENT AGREEMENT REGARDING SOUTH GREENSBORO STREET PROPERTY BY AND BETWEEN THE TOWN OF CARRBORO, NORTH CAROLINA AND THE COUNTY OF ORANGE, NORTH CAROLINA dated December 4, 2017, is made and entered into as of the I s.-t" day of ~ , 2020, by and between the TOWN OF CARRBORO, a North cafolina municipal corP~n, hereafter referred to as the "Town", and THE COUNTY OF ORANGE, a North Carolina county, hereafter referred to as the "County". Collectively, the Town and the County are sometimes referred to in this Agreement as the "Parties". W ! TN~§.§ETH: WHEREAS, the County and the Town entered into the original Agreement dated as of December 4, 2017; and WHEREAS, pursuant to the original Agreement, the Town has entered into contracts for the design and construction of the proposed improvements for the Project on the Property; and WHEREAS, significant changes have been made to the plan for development of the Property which is the subject of the Agreement; and WHEREAS, the Parties wish to amend the Agreement as set forth herein to reflect the change in circumstances which have occurred since the execution of the Agreement; and WHEREAS, it is the intent of the Parties that except as amended by this First Amendment, the terms of the Original Agreement shall remain in full force and effect; and WHEREAS, the Town is authorized to enter into this contract pursuant to, inter alia, the North Carolina General Statutes ("N.C.G.S.") 160A-16, and the County is authorized to enter into this contract pursuant to, inter alia, North Carolina General Statutes l 53A-11, et seq., and the Town's Town Council and the County's Board of County Commissioners have each determined that it is in the best interests of their citizens to do so. NOW, THEREFORE, in consideration of the mutual promises and covenants contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Town and the County intending to be legally bound do hereby agree as follows: -------L. DocuSign Envelope ID: ABDD54BF-241F-4DA3-B43E-EF395826BBFF