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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 Weaver Community Housing Association, a not for profit corporation, <br /> for itself and its successors and assigns ("Owner"), is given as a condition precedent to the award <br /> of Orange County HOME Investment Partnership Program funds. <br /> RECITALS: <br /> WHEREAS, the Orange County HOME Consortium has designated approximately <br /> $30,374 in FY 2014-15 HOME funds to assist in the rehabilitation of six (6) units, two building <br /> low-income apartment complex in Carrboro, North Carolina known as Cedar Rock Cooperative, <br /> which are hereinafter designated collectively as "Property"or"Properties"; and <br /> WHEREAS, the County is the lead entity of the Orange County 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 <br /> "Act"), and as further defined in the Federal Program Requirements provided by the U.S. <br /> Department of Housing and Urban Development; and <br /> WHEREAS, the Owner owns and manages the Cedar Rock Cooperative located at 703 <br /> and 705, North Greensboro Street in Carrboro, North Carolina (hereinafter referred to as "the <br /> Project"), as rental housing for low-income families earning up to 60% of the Area Median <br /> Income which will remain affordable for low income families throughout the Period of <br /> Affordability which is described below. The Project dwelling units are located on the property <br /> more particularly described in EXHIBIT A, which is attached hereto and made a part of this <br /> Agreement(hereinafter referred to as"the Property"); and <br /> WHEREAS, the Owner agrees to utilize HOME funds provided for the purpose of <br /> rehabilitating the Property as described in its HOME Program application dated February 24, <br /> fl'L <br />