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NORTH CAROLINA <br />DEVELOPMENT AGREEMENT <br />ORANGE COUNTY <br /> <br /> <br />This is an AGREEMENT between ORANGE COUNTY, a body politic and corporate, a <br />political subdivision of the State of North Carolina, (hereinafter referred to as the “County”), <br />EmPOWERment, Inc., a North Carolina non-profit corporation (hereinafter referred to as <br />“Owner”). The effective date of this agreement is 08/02/2022. <br /> <br />WITNESSTH <br /> <br />WHEREAS, the Orange County HOME Consortium has designated up to One Hundred <br />and Five Thousand Dollars ($105,000) in FY 2022-23 HOME funds to assist in the acquisition <br />of a townhome for affordable rental; and <br /> <br />WHEREAS, the County is the lead entity of the Orange County HOME Consortium, so <br />designated in an agreement dated July 1, 2011 and as such is the lead entity in a representative <br />capacity for all members of the Orange HOME Consortium for the purposes of carrying out the <br />HOME Program in accordance with the Title II of the Cranston-Gonzalez National Affordable <br />Housing Act (Pub. L. 101-625), (42 U.S.C. 3535(d) et. seq.) (hereinafter referred to as the “Act”), <br />and as further defined in the Federal Program Requirements provided by the U.S. Department of <br />Housing and Urban Development; and <br /> <br />WHEREAS, the Owner intends to acquire property, a townhome located at 105 Fidelity <br />Street Carrboro, North Carolina (hereinafter referred to as “the Project” or the “Project dwelling <br />unit”), as rental housing for one low-income family earning less than 60% of the Area Median <br />Income. The Project dwelling unit is located on the property more particularly described in Exhibit <br />A attached hereto and made a part of this Agreement (hereinafter refer red to as “the Property”); <br />and <br /> <br /> WHEREAS, the Owner agrees to utilize HOME funds provided for the purpose of <br />acquiring the Property as described in its HOME Program Funding Application dated February <br />25, 2022, which is hereby incorporated into and made part of this Agreement; and <br /> <br /> WHEREAS, notwithstanding any provision of this Agreement, the County and the Owner <br />hereto agree and acknowledge that this Agreement does not constitute a commitment of funds or <br />site approval, and that such commitment of funds or approval may occur only upon satisfactory <br />completion of an environmental review and receipt by Orange County of a Release of Funds from <br />the U.S. Department of Housing and Urban Development under 24 CFR Part §58 if applicable. <br />The parties further agree that the provision of such funds to the project is conditioned on Orange <br />County’s determination to proceed with, modify, or cancel the project based on the results of a <br />subsequent environmental review. <br /> <br />NOW, THEREFORE, in consideration of the mutual covenants, promises, and <br />representations contained herein, it is agreed between the parties hereto as follows: <br />DocuSign Envelope ID: 48DDB7F3-249B-44E9-A965-4AB2E5C0F864