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Whereas, Orange County, to assure the long term affordability of these properties, caused <br /> the properties to be encumbered by various means including development agreements, <br /> declaration of restrictive covenants, and deeds of trust; and <br /> Whereas, Habitat desires to transfer a duplex located at 105 Zieger Lane, in Chapel Hill, <br /> North Carolina 27516 (hereinafter referred to as the "Property"), and described in EXHIBIT A <br /> attached hereto and incorporated herein;and <br /> Whereas,the Declaration of Restrictive Covenants, found in the Orange County Register <br /> of Deeds, Deed Book 2186, Page 213,which is attached as EXHIBIT B and incorporated herein, <br /> provides that the owner may transfer the Property to a non-profit corporation of like purpose or <br /> Orange County; subject to the requirements of the Development Agreements attached hereto as <br /> EXHIBIT C and D and incorporated herein, the Declaration of Restrictive Covenants, and the <br /> Orange County Affordable Housing Bond Program requirements; provided the owner obtains <br /> written agreement, in a form satisfactory to Orange County, from the person acquiring the <br /> Property, that such acquisition is subject to the requirements of the Declaration of Restrictive <br /> Covenants, the Development Agreements and the Orange County Affordable Housing Bond <br /> Program; and <br /> Whereas,Orange County and Habitat desire to transfer the Property to Town, a municipal <br /> Corporation, of like purpose subject to the requirements of the Declaration of Restrictive <br /> Covenants, the Development Agreements and the Orange County Affordable Housing Bond <br /> Program;and <br /> Whereas, Habitat desires to assign to Town its obligations contained within the <br /> Declaration of Restrictive Covenants, the Development Agreements, and under the Orange <br /> County Affordable Housing Bond Program; and <br /> Whereas, Town desires to accept the transfer of property from Habitat subject to the <br /> requirements of the Declaration of Restrictive Covenants, the Development Agreements and the <br /> Orange County Housing Affordable Bond Program; and <br /> Whereas, Town desires to accept from Habitat the assignment of the obligations of <br /> Habitat in the Declaration of Restrictive Covenants, the Development Agreements and the <br /> Orange County Affordable Housing Bond Program; and <br /> Whereas, Orange County consents to the transfer and the acceptance of the transfer of the <br /> Property subject to the requirements of the Declaration of Restrictive Covenants, the <br /> Development Agreements and the Orange County Affordable Housing Bond Program along with <br /> the assignment of the obligations contained in the above mentioned documents; <br /> NOW THEREFORE,Habitat does hereby: <br /> (1) Give, transfer, assign, and deliver unto Town, and its successors, nominees and <br /> 2 <br />