HomeMy WebLinkAbout2014-554 Housing - Habitat for Humanity - Amendment to Development Agreement for Affordable Housing Bond Program SIN 56V
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NORTH CAROLINA
ORANGE COUNTY
AMENDMENT TO DEVELOPMENT AGREEMENT
THIS AMENDMENT, made and entered into this the 22nd day of October, 2014 by
and between ORANGE COUNTY, a general local governmental unit of the State of North
Carolina, (hereinafter referred to as the "County") and HABITAT FOR HUMANITY OF
ORANGE COUNTY, NC, INC., a North Carolina non-profit housing organization (hereinafter
referred to as "Habitat").
WITNESSTH
WHEREAS, the County and Habitat entered into a"Development Agreement"("Original
Agreement"), dated September 26, 2013 with the County for Orange County Affordable Housing
Bond Program funding to construct an affordable rental duplex in the Rusch Hollow subdivision
in Orange County; and
WHEREAS, the Orange County Board of Commissioners awarded the Owner $144,304
in FY 2001 Orange County Affordable Housing Bond funds to assist in the construction of rental
housing development;
WHEREAS, the County and Habitat desire to amend the Original Agreement, while
keeping in effect all terms and conditions of the Original Agreement not inconsistent with the
terms and conditions set forth below.
NOW THEREFORE, for and in consideration of the mutual covenants and agreements
made herein, the parties agree to amend the following sections of the Original Agreement as
follows:
1. In the Recitals amend the second Whereas as follows:
WHEREAS, Habitat for Humanity, Orange County, North Carolina intends to construct
one (1) duplex affordable rental development targeted for disabled and elderly families earning
less than 60% of the area median income, and which will remain, affordable for low and
moderate income families as described in an application for Orange County Affordable Housing
Bond Program funds on file in the County's Housing, Human Rights, and Community
Development Office(hereafter"the Project");and
2. Amend SECTION VI.AFFORDABILITY REQUIREMENTS as follows:
Owner agrees to lease the Project dwelling units to families whose income does not
exceed 60% of the area median income by family size, as determined by the U.S. Department of
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Housing and Urban Development and as amended from time to time. Residential leases will not
exceed one year in term.
Except for the changes made in 1 and 2 herein, the Original Agreement shall remain in full force
and effect to the extent it is not inconsistent with this Amendment. In the event that there is a
conflict between the Original Agreement and this Amendment,this Amendment shall control.
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.
[SIGNATURES PAGE TO FOLLOW]
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SIGNATURE PAGE
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COUNTY OF ORANGE,NORTH CAROLINA
(SE ) 17 52
a Bonnie B. Hammersley, Co Manager
fi
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ATTEST: IAI
Donna Baker
Clerk to the Board of Commissioners
v a form and legality
A nette ore, Staf ttorney
This document has been preaudited in accordance with the N.C. Local Government and Fiscal
Cou�ntt®rol Act. &
Clarence G. Grier,Asst. County Manager/CFO
HABITAT FOR HUMANITY OF ORANGE
COUNTY NORTH CAROLINA,INC.
(SEAL)
r-
40 v ,President
ATTEST:
Secretary
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