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5 <br /> "Contracts" means the contract documents, including this Agreement, the design <br /> contract,the construction contract,the Environmental Indemnification Agreement,and any <br /> other contract or agreement executed by both Parties hereto directly related to the Project. <br /> "Development" means the planning, design and construction by ORFD and the <br /> County of the Facilities on the Property. <br /> "Development Permit" means a building permit, zoning permit, subdivision <br /> approval, special or conditional use permit, variance, or any other official action of Local <br /> Government having the effect of permitting the development of the Property. <br /> "Development Standards" means the standards for development set forth in the <br /> Town's Land Use Ordinance. <br /> "Facility" or"Facilities" shall have the meaning set forth in the recitals. <br /> "Governing Body"means,with respect to ORFD,the ORFD Board of Directors, and <br /> with respect to the County, the Orange County Board of County Commissioners. <br /> "Gross floor area" as used in this Agreement means the area of space within the <br /> building to be constructed on the Property occupied by each party to this Agreement, plus <br /> the proportional share of"common areas" attributable to each party (i.e., "common areas" <br /> shall be apportioned between the Parties in proportion to the amount of"gross floor area" <br /> each occupies in the building). The proportion of"gross floor area" occupied by each party <br /> shall be finally calculated upon completion of the construction plans for the building and <br /> parking lot to be constructed on the Property, and a written schedule following in the <br /> principle the Elements of Value, Exhibit B, signed by each party and attached to this <br /> Agreement. <br /> "Land Development Regulations" means the Town's Land Use Ordinance ("LUO") <br /> those ordinances and/or regulations enacted by the Town for the regulation of any aspect of <br /> development and includes zoning, subdivision, or any other land development ordinances. <br /> "Laws" means all ordinances, resolutions, regulations, comprehensive plans, land <br /> development regulations,policies,and rules adopted by the Town affecting the development <br /> of the Property, and includes laws governing permitted uses of the property, density, design, <br /> and improvements. <br /> "Lender" shall have the meaning set forth in Section VI(C). <br /> "Local Government" shall mean the Town of Hillsborough,North Carolina. <br /> "N.C.G.S." means the North Carolina General Statues. <br /> "NCDEQ" means the North Carolina Department of Environmental Quality. <br /> "NCDOT" means the North Carolina Department of Transportation <br /> 3 <br />