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Exhibit D <br /> Prepared by and return to: Annette Moore, Orange County Attorney's Office: <br /> P.O.Box 8181; Hillsborough,NC 27278 <br /> DECLARATION OF RESTRICTIVE COVENANTS <br /> THIS DECLARATION OF RESTRICTIVE COVENANTS (Declaration), dated <br /> , by Habitat for Humanity of Orange County, NC, Inc. for itself and its <br /> successors and assigns (Owner), is given as a condition precedent to the award of Orange County <br /> HOME Investment Partnership Program funds. <br /> RECITALS: <br /> WHEREAS, the Orange County HOME Consortium has designated $75,000 in FY 2011 HOME <br /> funds for pre-development and acquisition costs for a nine (9) acre tract on School House Road in <br /> Orange County which is hereinafter designated as "the Property" and more particularly described in <br /> Exhibit A of this Agreement and; <br /> WHEREAS, Orange County is the lead entity of the Orange HOME Consortium, so <br /> designated in an agreement dated July 1, 2011, 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. seq.) (hereinafter referred to as the "Act"), <br /> and as further defined in the Federal Program Requirements provided by the U.S. Department of <br /> Housing and Urban Development; and <br /> WHEREAS, Habitat is acquiring the Property to develop a 28 unit subdivision to be <br /> known as Tinnin Woods on the Property for first-time homebuyers earning up to 65% of HUD <br /> area median income as described in their FY 2011 HOME Program Application dated February <br /> 24, 2011 which is hereby incorporated into this Agreement, and hereafter referred to as "The <br /> Project". A copy of the 2011 HOME Program Application is on file in the office of the Housing <br /> and Community Development Department; and <br /> WHEREAS, Habitat intends to assist five (5) first-time homebuyers earning up to 65% <br /> of HUD area median income purchase the newly constructed housing units in the first phase of <br /> development; and <br /> WHEREAS, a first-time homebuyer for the purposes of this program is defined as any <br /> low income household that has not owned a home within the past five (5) years including <br />