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III. LIEN POSITION <br /> Orange County hereby acknowledges that the terms and conditions of its (i) HOME Program <br /> Development Agreement and (ii) Declaration of Restrictive Covenants (collectively referred to <br /> as "Orange County Documents"), for Community House Transitional Housing Facility shall be <br /> expressly subordinated only to the: (iii) Deed of Easement (Corporate Sewer Easement with <br /> Mortgage) recorded at Book 5659, Page 570 in the Orange County Registry; (iv) Deed of <br /> Easement (Corporate Water Easement with Mortgage) recorded at Book 5659, Page 462 in the <br /> Orange County Registry; (v) Stormwater Facility Easement Agreement recorded at Page 5703, <br /> Page 44 in the Orange County Registry; and (vi) Access Easement Agreement recorded at Book <br /> 5703, Page 72 in the Orange County Registry. The Declaration of Restrictive Covenants is <br /> described in Section VI. of this Agreement, the form of which is attached as Exhibit C and <br /> incorporated by reference. <br /> IV. TIMELINESS <br /> The Sublessee shall complete the Project within eighteen (18) months from the date of this <br /> Agreement. However, in the event of any alterations or additions or of circumstances beyond the <br /> control of the Sublessee, which in the opinion of the Director of the County's Department of <br /> Housing, Human Relations and Community Development will require additional time for <br /> completion of the Project, then in that case, the time of completion shall be extended by the <br /> County Manager in writing for a period of time not to exceed six (6) months. Any further <br /> extensions will require the approval of the Orange County Board of County Commissioners. <br /> V. DURATION OF THE AGREEMENT <br /> This Agreement will remain in effect during the Period of Affordability which is 99 years <br /> or the term of the lease and any renewals of the lease whichever is earlier. <br /> VI. AFFORDABILITY REQUIREMENTS <br /> Sublessee agrees to lease the Project dwelling units up to fifty (50) low income families <br /> earning less than 50% of the area median income throughout the period of affordability. Area <br /> Median Income by family size is determined by the U.S. Department of Housing and Urban <br /> Development and amended from time to time. Residential leases will not exceed one year in <br /> term. <br /> Each of the Project dwelling units must remain affordable during the period of <br /> affordability. The Sublessee retains full responsibility for compliance with the affordability <br /> requirement for each of the Project dwelling units, unless affordability restrictions are terminated <br /> due to termination of the Lease or Agreement for Sublease of Property. The Sublessee shall <br /> assure compliance with affordability of each of the Project dwelling units as provided in the <br /> Declaration on the Property. The Declaration shall constitute and remain a lien on the Property <br /> during the period of affordability. <br /> 3 <br />