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14 <br />Prepared Hy: Geaffrey $. Gledhill, Attorney at Law, P.O. Drawer <br />1529, Hillsborough,, NC 27278 <br />After recording return ta: Geoffrey 8. Gledhill, P.O. Drawer ].529, <br />Hillsborough, NC 27278 <br />NORTH CAROLINA <br />ORANGE COUNTY <br />AMENDMENT TO DEVELOPMENT AGREEMENT <br />This is an amendment to the March 3, 2000 AGREEMENT ("the <br />Development Agreement") between Orange County, a body politic <br />and corporate,. a political subdivision of the State of North <br />Carolina, (hereinafter referred to as "County" or "the County") <br />and EmFOWERment, Incorporated, a North Carolina non-,profit <br />housing organization (hereinafter referred to as "EmPOWERment"). <br />The effective date of this amendment is <br />WTTN73SSETH <br />WHEREAS, the County and EmPOWERment entered into a <br />Development Agreement, a Declaration of Restrictive Covenants, a <br />Promissory Note and a Deed of Trust and Security Agreement, all <br />dated March 3, 2000 all related to the Property described in <br />Exhibit A; and <br />WHEREAS, EmPOWERment has requested authority from Orange <br />County to change the affordability provisions in the Development <br />Agreement; .and <br />WHEREAS, Orange County, by this amendment, agrees to permit <br />EmPOWERment to make the replacement dwelling units that are the <br />subject of the Development Agreement, to be made available to <br />first-time homebuyers earning up to 80~ of HUD area median <br />income. <br />NOW, THEREFORE, in consideration of the mutual covenants, <br />promises and representations contained herein, it is agreed <br />between the parties hereto that all of the terms and conditions <br />of the Development Agreement are herein reaffirmed and <br />incorporated herein by reference and amended as follows: <br />1. Paragraph 1.b. of the Development Agreement is rewritten to <br />read as follows: <br />b. EmPOWERment shall sell the newly constructed <br />dwelling units to qualified buyers whose income is up to <br />80~ of the area median household income by family size, as <br />1 <br />