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is not extinguished by N.C. Gen. Stat. § 41-29 or any comparable law purporting to extinguish, <br />by the passage of time, preemptive rights in the Property and by the Real Property Marketable <br />Title Act or any comparable law purporting to extinguish, by the passage of time, non possessory <br />interests in real property. Any future owner of the Property, CHT and Orange County will to do <br />what each must do to accomplish the 99 year duration of this Declaration of Restrictive <br />Covenants. <br />SECTION 4 ENFORCEMENT OF AFFORDABLE HOUSING REQUIREMENTS <br />a. At the time of resale of the project dwelling unit, CHT will convey a housing unit to <br />qualified homebuyer. Each housing unit will consist of a 99 year Ground Lease (renewable for an <br />additional 99 years) to the project dwelling unit. The Ground Lease, the form of which is Exhibit <br />B hereto, provides for the long term affordability (at least 99 years) of the housing unit and <br />provides remedies to insure -the long term affordability of the housing unit. CHT hereby declares <br />and covenants, on behalf of itself and all future owners of the Property, that, during the term of <br />this Declaration, the County is a third party beneficiary of and successor to each and every <br />remedy intended to insure the long term affordability of the housing unit that is provided for in <br />the Ground Lease and may, in the event of the failure or default of the Lessor in the Ground <br />Lease to insure the long term affordability of the housing unit as provided for in the Ground <br />Lease, exercise all rights and remedies available to the Lessor in the Ground Lease for that <br />purpose. <br />b. CHT covenants that it will not knowingly take or permit any action that would result in a <br />violation of the affordability requirements of the HOME PROGRAM GRANT AGREEMENT. <br />Orange County, together with any future owner of the Property may execute and record any <br />amendment or modification of this Declaration necessary to insure the successful completion of <br />the Project and the long term affordability (at least 99 years) of the housing units on the Property <br />and such amendment or modification shall, to the extent permitted by law, either relate back to <br />the date of recording of this Declaration or not as necessary to carry out the intent of this <br />Declaration, and be binding on third parties granted rights under this Declaration. CHT expressly <br />covenants and agrees to rerecord this Declaration periodically and no less often than one day less <br />than every 30 years from the date hereof for the purpose of renewing the Lessor's option to <br />purchase and right of first refusal, that are contained in the Exhibit B Ground Lease, in the <br />Property or portion thereof including any leasehold interest in the Property or portion thereof. <br />c. CHT acknowledges that the primary purpose for requiring compliance by CHT with <br />restrictions provided in this Declaration is to assure compliance with the long term affordability <br />requirements of the HOME INVESTMENT PARTNERSHIP PROGRAM, AND BY REASON <br />THEREOF, CHT, IN CONSIDERATION FOR RECEIVING HOME INVESTMENT <br />PARTNERSHIP PROGRAM FUNDS FOR THE PROPERTY, HEREBY AGREES AND <br />CONSENTS THAT THE COUNTY SHALL BE ENTITLED, FOR ANY BREACH OF THE <br />PROVISIONS HEREIN, AND IN ADDITION TO ALL OTHER REMEDIES PROVIDED BY <br />LAW OR IN EQUITY, TO ENFORCE BY SPECIFIC PERFORMANCE CHT'S <br />OBLIGATIONS UNDER THIS DECLARATION 1N A STATE COURT OF COMPETENT <br />JURISDICTION, WITH VENUE IN ORANGE COUNTY. CHT hereby further specifically <br />15 <br />