Agenda 10-19-2021; 8-d - Development Agreement between Orange County and Orange Rural Fire Department for a New Fire EMS Station

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8 efforts to secure the necessary permits. D. Provided the Town approves and issues all necessary development permits for the Project, the Parties will coordinate to complete construction drawings for the Project. E. ORFD, in accordance with applicable laws pertaining to public construction projects, will enter into contract(s) for development of the construction documents for the Project. F. Upon approval of the construction documents and issuance of the necessary permits (the 'Building Permit(s)"), ORFD will at a time reasonably agreed between the Parties begin construction of the Project. G. The Parties will finance their respective shares of the Project costs according to Exhibit B, Elements of Value. ORFD will arrange for construction financing of its proportional share of the Project cost (based on Exhibit B), in such manner as determined by the ORFD Board. The County shall finance its proportionate share of the Project costs (based on Exhibit B) in such manner as may be determined by the County. H. ORFD will contract with all necessary design, engineering and construction firms for any environmental remediation work required by NCDEQ. Subject to the terms of the Environmental Indemnification Agreement the Parties shall share the cost of such remediation equally. I. ORFD will contract with professionals for the construction of the Project, using a legally permitted construction delivery method. Upon completion, the Facilities, including the Building and parking, shall be subject to a new condominium declaration with terms mutually agreed upon by ORFD and the County, pursuant to which ORFD will grant and the County will acquire at no additional cost to the County a fee simple condominium interest in the assigned parking areas and EMS Station and an undivided interest in the Common Areas. ORFD shall convey the fee simple condominium interest to the County within thirty(30)days of substantial completion of the Project. It is acknowledged by ORFD and the County that County's contributions to the Project constitute sufficient consideration for the conveyance of the condominium interest. J. ORFD will enter into a design contract for the design and a construction contract for the work. K. As contemplated by this agreement, upon completion of construction the building and parking areas shall be converted to condominium ownership, with the ORFD and the County each owning condominium interests in building space and associated parking spaces. As part of the condominium arrangement, the Parties will also have an undivided interest in the Common Areas designated on the final plans, and which Common Areas will be subject to the rules, rights and 6