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County retains the right to, periodically and every 30 years after the first recording of the <br /> Declaration of Restrictive Covenants on the Property to register, with the Register of <br /> Deeds of Orange County, a notice of preservation of the Restrictive Covenants on the <br /> Property as provided in North Carolina General Statute § 47134 or any comparable <br /> preservation law in effect at the time of the recording of the notice of preservation. It is <br /> the intent of this Agreement that the 99 year duration of this Declaration of Restrictive <br /> Covenants be accomplished and that any future Owner of the Property, Owner, and <br /> Orange County will do what is necessary to ensure that the same is not extinguished by <br /> N.C. Gen. Stat. § 41-29 or any comparable law purporting to extinguish, by the passage <br /> of time, preemptive rights in the Property and by the Real Property Marketable Title Act <br /> or any comparable law purporting to extinguish, by the passage of time, non possessory <br /> interests in real property. Any future Owner, Owner and Orange County agree to do what <br /> each must do to accomplish the 99-year duration of this Declaration of Restrictive <br /> Covenants. <br /> VII. OWNER PERFORMANCE UNDER THIS AGREEMENT <br /> A. Owner agrees and authorizes the County to conduct on-site reviews, examine client and <br /> contractor records, client applications and to conduct any other procedures or practices to <br /> assure compliance with these provisions. <br /> B. Owner agrees to not violate any State or Federal laws, rules or regulations regarding a <br /> direct or indirect illegal interest on the part of any employee or elected official of the <br /> Owner in the Project or payments made pursuant to this Agreement. <br /> C. Owner agrees that to the best of its knowledge, neither the Project nor the funds provided <br /> therefore, and the personnel employed in the administration of the program shall be in <br /> any way or to any extent engaged in the conduct of political activities in contravention of <br /> Chapter 15 of Title 5, United States Code, referred to as the Hatch Act. <br /> D. Owner shall adopt the audit requirements of the Office of Management and Budget <br /> (hereinafter "OMB") Circular A-110, "Grants and Agreements with Institutions of Higher <br /> Education, Hospitals, and Other Nonprofit Organizations," and Circular A-122, "Cost <br /> Principles for Nonprofit Organizations," and OMB Circular A-133, "Audits of <br /> Institutions of Higher Education and Other Non-Profit Institutions." Owner shall submit <br /> to the County copy of said audit report. Owner shall permit the authorized representatives <br /> of the County, HUD and the Comptroller General of the United States to inspect and <br /> audit all data and reports of the Owner relating to its performance under the Agreement. <br /> E. County shall provide, upon request, copies of all laws, regulations and orders cited in this <br /> Agreement. <br /> F. Owner and County shall at all times observe and comply with Title 24 CFR Part 92 and <br /> all applicable laws, ordinances or regulations of the Federal, State, County, and local <br /> government, which may in any manner affect the performance of this Agreement, and <br />