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3 <br /> STATE OF NORTH CAROLINA <br /> COUNTY OF ORANGE <br /> DEVELOPMENT AGREEMENT REGARDING WATERSTONE— ORANGE RURAL <br /> FIRE DEPARTMENT/EMERGENCY SERVICES CO-LOCATION PROPERTY <br /> BY AND BETWEEN <br /> THE ORANGE RURAL FIRE DEPARTMENT, NORTH CAROLINA <br /> AND <br /> THE COUNTY OF ORANGE, NORTH CAROLINA <br /> THIS DEVELOPMENT AGREEMENT (the "Agreement"), made and entered into this <br /> day of , 2021, by and between the ORANGE RURAL FIRE <br /> DEPARTMENT No.1 INC., a municipal corporation of the State of North Carolina, located at <br /> 206 South Churton Street, Hillsborough, North Carolina 27278 , hereafter referred to as the <br /> "ORFD," and THE COUNTY OF ORANGE, a political subdivision of the State of North <br /> Carolina, located at 300 West Tryon Street, Hillsborough, North Carolina, 27278, ("County"), <br /> through the Orange County Emergency Services Department("OCES"). Collectively, ORFD and <br /> the County may be referred to as "the "Parties." <br /> WITNESSETH: <br /> WHEREAS, the County and ORFD desire to undertake the development of a shared <br /> facility in the Waterstone Development in Hillsborough,North Carolina to co-locate a fire station <br /> and emergency medical services operated by ORFD and the County; and <br /> WHEREAS, ORFD owns approximately 2+/- acre parcel of land in Hillsborough, North <br /> Carolina, located at 350 College Park Drive and further identified by Orange County parcel <br /> identification Number 9873-24-1850 ("Property"), and more particularly described in Exhibit A, <br /> which ORFD acquired from the Town of Hillsborough ("Town") in May 2017; and <br /> WHEREAS, ORFD has conducted a facilities needs studies and determined ORFD's <br /> current and future needs for facilities to house ORFD operations; and <br /> WHEREAS, ORFD and the County have each determined that they may each derive <br /> benefits for the residents of Hillsborough and the County if they can cooperatively plan and <br /> develop a joint use facility (the "Facility") to house Orange Rural Fire Department and Orange <br /> County Emergency Medical Service Station, and any associated parking for the Facility <br /> collectively,referred to as "Facility" or"Facilities"); and <br /> WHEREAS, the County and ORFD desire to establish terms pursuant to which they will <br /> cooperate with the planning, financing, and development of the Property for a joint use Facility; <br /> 1 <br />