Assignment, Assumption and Consent to Transfer Real Property between CASA, a non-profit corporation, and Chrysalis for Mental Health Foundation, Inc.

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EXHIBIT B Prepared by: Geoffrey E. Gledhill,Attorney at Law,P O Drawer-1529;Hillsborough,NC 272 78 After recording return to: Coleman,Gledhill&Hargrave,P.0 Drawer 1529; Hillsborough,NC 27278 DECLARATION OF RESTRICTIVE COVENANTS THIS DECLARATION OF RESTRICTIVE COVENANTS (Declaration), dated , by OPC Foundation for Mental Health, Inc., for itself and its successors and assigns (Owner),is given as a condition precedent to the award of Orange County Housing Bond funds RECITALS: WHEREAS, the Orange County Board of Commissioners awarded the OPC Foundation $300,000 in FY 1997 Housing Bond funding to assist in the construction of the Club Nova Apartments in Carrboro,NC in.Tune 2001;and; WHEREAS, OPC Foundation submitted a letter dated November 19,2003 requesting the reallocation of the funds from the Orange County Bond Program to provide matching funds for a HUD Supportive Housing Program grant as well as a letter dated March 17, 2004, which are incorporated by reference into this Agreement. The letters are on file in the office of•the Orange County Housing and Community Development; and WHEREAS, the Orange County Board of Commissioners approved the reallocation of $300,000 in FY 1997 Housing Bond funding on December 9,2003;and WHEREAS, OPC Foundation intends to purchase eight dwelling units The dwelling units are located at 111 and 336 Ashley Forest; 529 Hillsborough St. G-1 and G-3; 800 Pritchard Avenue B6, C3, and E3 all in Chapel Hill, NC; and 2.308 Red Bird Lane in Hillsborough, NC (herein after referred to as "the Project dwelling units" or"the Project") The Project dwelling units are located on properties more particularly described in EXHMIT A.attached hereto and made a part of this Agreement(hereinafter referred to as"the Property"); and