2014-205 Housing - Habitat for Humanity for Home Investment Partnership Program $285,000

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Exhibit C Prepared by and return to: Annette Moore, Orange County Attorney's Office: P.O. Box 8181; 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: the Orange County HOME Consortium has designated $285,000 in FY 2013 HOME funds to provide funding for second mortgage funding for 15 newly constructed homes in the Phoenix Place, Fairview and Tinnin Woods subdivisions which are hereinafter designated as"the Properties"and; WHEREAS, Orange County is the lead entity of the Orange HOME Consortium, so designated in an agreement dated July 1, 2011, 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 11 of the Cranston-Gonzalez National Affordable Housing Act (Pub. L. 101-625), (42 U.S.C. 3535(d.) et. M.) (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 is constructing the housing units on the Properties for first-time homebuyers earning up to 65% of HUD area median income described in their FY 2013 HOME Program Application dated February 21, 2013 which is hereby incorporated into this Agreement, and hereafter referred to as "The Project". A copy of the 2013 HOME Program Application is on file in the office of the Housing and Community Development Department; and WHEREAS, Habitat intends to assist fifteen (15) first-time homebuyers earning up to 65% of HUD area median income purchase the newly constructed housing units completed during development; and