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17 <br /> SECTION 3 RECORDING AND FILING; COVENANTS TO RUN WITH <br /> THE LAND <br /> a., CHT shall cause this declaration and all amendments hereto to be recorded and filed in <br /> the Office of the Register of Deeds of Orange County upon its execution.. CHT shall pay all fees <br /> and charges incurred in connection therewith. <br /> b.. CHT intends, declares and covenants, on behalf of itself and all future owners of the <br /> Property during the term of this Declaration, that this Declaration and the covenants and <br /> restrictions set forth in this Declaration regulating and restricting the use, occupancy and transfer <br /> of the Property (1) shall be and are covenants running with the land, encumbering the Property <br /> for the term of this Declaration, binding upon all present and fixture owners of the Property; (2) <br /> are not personal covenants of Declarant; and(3) shall bind all present and future owners (and the <br /> benefits shall inure to the County and any prospective owner of the Property) and its respective <br /> successors and assigns during the term of this Declaration.. For the term of this Declaration, each <br /> and every contract, lease, deed or other instrument hereafter executed conveying the Property or <br /> portion thereof shall expressly provide that such conveyance is subject to this Declaration, <br /> provided, however, the covenants contained herein shall survive and be effective regardless of <br /> whether such contract, lease, deed, or other instrument hereafter executed conveying the <br /> Property or portion thereof provides that such conveyance is subject to this Declaration. It is <br /> further the responsibility of CHT to rerecord this Declaration periodically and no less often than <br /> one day less than every 30 years from the date hereof'for the purpose of renewing the rights of <br /> first refusal in the Property or portion thereof including any leasehold interest in the Property or <br /> portion thereof; The County retains the right to, periodically and every 30 years after the first <br /> recording of the Ground Lease created in Exhibit C hereof, register, with the Register of Deeds <br /> of Orange County, a notice of preservation of the Restrictive Covenants on the Property as <br /> provided in North Carolina General Statute § 47B-4 or any comparable preservation law in effect <br /> at the time of the recording of the notice of preservation.. It is the intent of this Section 3 of this <br /> Declaration that the 99 year duration of this Declaration of Restrictive Covenants be <br /> accomplished and that any future owner of the Property, CHT and Orange County will do what <br /> is necessary_to ensure that the same is not extinguished by N.C. Gem Stat § 41-29 or any. <br /> comparable law purporting to extinguish, by the passage of time, preemptive rights in the <br /> Property and by the Real Property Marketable Title Act or any comparable law purporting to <br /> extinguish,by the passage of time,non possessory interests in real property. Any future owner of <br /> the Property, CHT and Orange County will to do what each must do to accomplish the 99 year <br /> duration of this Declaration of Restrictive Covenants.. <br /> SECTION 4 ENFORCEMENT OF AFFORDABLE HOUSING REQUIREMENTS <br /> a At the time of resale of the project dwelling unit, CHT will convey a housing unit to <br /> qualified homebuyer. Each housing unit will consist of a 99 year Ground Lease (renewable for <br /> an additional 99 years) to the project dwelling unit. The Ground Lease, the form of which is <br /> Exhibit B hereto, provides for the long term affordability (at least 99 years) of the housing unit <br /> and provides remedies to insure the long term affordability of the housing unit. CHT hereby <br /> declares and covenants, on behalf of itself and all future owners of the Property, that, during the <br /> term of this Declaration, the County is a third party beneficiary of and successor to each and <br /> 1� <br />