HomeMy WebLinkAbout2005 S Housing- Development Agreement Amendment - Habitat for Humanity~ ,
NORTH CAROLINA
ORANGE COUNTY
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Please Return This Copy to the
Clerk's Office for the Permanent
Agenda File
AMENDMENT TO DEVELOPMENT AGREEMENT
This is an amendment to the February _24_, 2003 AGREEMENT ("the Development
Agreement") between ORANGE COUNTY, a general local governmental unit of the State of
North Carolina, (hereinafter referred to as "County" or "the County") and HABITAT FOR
HUMANITY OF ORANGE COUNTY, NC, INC., a North Carolina non-profit housing
organization (hereinafter referred to as "Habitat"). The effective date of this amendment is May
17, 2005.
WITNESSETH
WHEREAS, the County and Habitat entered into a Development Agreement dated
February _24_, 2003 for the acquisition of a 17.17-acre parcel of land on Sunrise Road, Chapel
Hill, NC by Habitat for future housing development; and
WHEREAS, Habitat has requested that the performance dates in the original Agreement
be amended due to a modified housing development schedule;
NOW, THEREFORE, in consideration of the mutual covenants, promises and
representations contained herein, it is agreed between the parties hereto that all of the terms and
conditions of the Development Agreement are herein reaffirmed and incorporated herein by
reference and amended as follows:
1. Paragraph 3 of the Development Agreement is rewritten to read as follows:
Habitat must submit a sound, site-specific development proposal for developing the
Property by December 31, 2005 (was June 30, 2005). At that time, Habitat must
provide evidence that the surrounding community has been involved in development
plans. Actual infrastructure construction must begin by January 15, 2008 (was
September 30, 2005). Habitat will be responsible for providing status reports to the
County quarterly detailing the project activities until project completion beginning in
January 2006 (was July 2005). In addition, Habitat agrees to furnish to the County a
copy of its annual audit, performed by a certified public accountant within 90 days of the
end of each fiscal year until the Project is complete.
The project completion date is the closing date of the purchase by a qualified buyer of the
last of the twenty-five units to be constructed for first time homebuyers or December 31,
2010 (was December 31, 2008) whichever is earlier. In the event that Habitat is unable
to proceed with any aspect of the project in a timely manner, and County and Habitat
determine that reasonable extension(s) for completion will not remedy the situation, then
the Termination of Agreement provisions of this Agreement (Section 6.a.) shall pertain.
Habitat may, at its option, submit a written request for a delay of completion for County
approval. The County may, at its option, approve any delay in the completion date or
declare Habitat in default.
Habitat shall monitor the constructed units for affordability for the period of affordability
- ninety-nine (99) years. Final contract completion date shall be the latest end date of all
assisted unit affordability periods.
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IN WITNESS WHEREOF, the parties hereto, intending to be legally bound, have set their hands
and seals on the day and year first above written.
ATTEST:
Donna Baker
Clerk to the Board of Commi:
Approv as to forma legality
eoffr e ~ ,County Attorney
This document has been preaudited in accordance with the N.C. Local Government and Fiscal
Control Act.
Kenneth Chavious, Finance Director
Habitat for Humanity of Orange County, NC,
Inc.
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President
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ATTEST:
~~ _._.._______.__.. _secretary.
COUNTY OF ORANGE, NORTH CAROLINA