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Exhibit A <br />Prepared by and return to: Geoffrey E. Gledhill, P.O. Drawer 1529, Hillsborough, NC <br />27278 <br />DECLARATION OF RESTRICTIVE COVENANTS <br />THIS DECLARATION OF RESTRICTIVE COVENANTS (Declaration), dated <br />by Orange Community Housing and Land Trust, Inc, and its successors <br />and assigns (Owner), is given as a condition precedent to the award of Federal HOME <br />Investment Partnership Program funds by Orange County, North Carolina, a body politic and <br />corporate, a political subdivision of the State of North Carolina, (hereafter "the County") <br />together with any successor to its rights, duties, and obligations. <br />RECITALS: <br />WHEREAS, the Orange County HOME Consortium has designated $70,000 in FY <br />2004 HOME funds and $15,000 in FY 2005 HOME Funds for the purpose of subsidizing homes <br />in the Pacifica co-housing development in Carrboro for sale to eligible first-time homebuyers <br />hereinafter referred to as the "Project"; and <br />WHEREAS, the County is the lead entity of the Orange HOME Consortium, so <br />designated in an agreement dated July 1, 2005 and as such is the lead entity in a representative <br />capacity for all members of the Orange HOME Consortium for the purposes of carrying out the <br />HOME Program in accordance with the Title II of the Cranston-Gonzalez National Affordable <br />Housing Act (Pub. L. 101-625), (42 U.S.C. 3535(d.) et. se .) (hereinafter referred to as the <br />"Act"), and as firrther defined in the Federal Program Requirements provided by the U.S. <br />Department of Housing and Urban Development; and <br />10 <br />