2008-086 Housing - Development Agreement Consolidated Housing Plan Annual Update $200,000 Habitate for Humanity

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Exhibit A • Prepared by: Geoffrey E. Gledhill, Attorney at Law, P.O. Drawer 1529; Hillsborough, NC 27278 After recording return to: Coleman, Gledhill & Hargrave, P.O. Drawer 1529; Hillsborough, NC 27278 DECLARATION OF RESTRICTIVE COVENANTS THIS DECLARATION OF RESTRICTIVE COVENANTS (Declaration), dated by Habitat for Humanity of Orange County, NC, Inc. for itself and its • successors and assigns (Owner), is given as a condition precedent to the award of Orange County HOME Investment•Partnership Program funds. RECITALS: WHEREAS, the Orange .County HOME Consortium has designated approximately $200,000 in FY 2007 HOME funds for providing second mortgage funds for ten (10) units in the Highland Woods subdivision in Orange County which subdivision is hereinafter designated as "the Properly" and; WHEREAS, .Orange County is the lead entity of the Orange HOME Consortium, so designated in an agreement dated July 1, 2005, and as such is the lead entity in a representative capacity for all members of the Orange HOME Consortium for the purposes of carrying out the HOME Program in accordance with the Title II of the Cranston-Gonzalez National Affordable Housing Act (Pub. L. 101-625), (42 U.S.C. 3535(d.) et. se~C .) (hereinafter referred to as the "Act"), and as further defined in the Federal Program Requirements provided by the U.S. Department of Housing and Urban Development; and WHEREAS, Habitat intends to construct a 18 unit subdivision on the property with dwelling units for first-time homebuyers earning up to 60% of HUD area median income as described in their FY 2007 HOME Program Application dated February 22, 2007 which is hereby incorporated into this Agreement, and hereafter referred to as "The Project". A copy of the 2007 HOME Program Application is on file- in the office of the Housing and Community Development Department; and