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DocuSign Envelope ID: C3173F25- 6C4C- 4A24- 903D- 06978EB7C4AE <br />person acquiring the Property or any interest therein, that such acquisition is subject <br />to the requirements of this Declaration and to the requirements of the <br />DEVELOPMENT AGREEMENT. Owner agrees that County may void any sale, <br />transfer, or exchange of the Property or any portion of this Property if the buyer or <br />successor or other person fails to assume in writing the requirements of this <br />Declaration and the requirements of the DEVELOPMENT AGREEMENT. <br />4. Any assignment, sale, transfer, conveyance or other disposition of the Property or any <br />part of the Property other than as described in subparagraph 1 above, whether <br />voluntary or involuntary or by operation of law shall be subject to the provisions of <br />SECTION 4 of this Declaration. <br />E. Owner will, at the time of execution, delivery and recording of this Declaration, have good <br />and marketable title to the Property, free and clear of any lien or encumbrance (except <br />encumbrances created pursuant to this Declaration or other permitted encumbrances). <br />F. Owner warrants that it has not and will not execute any other declaration with provisions <br />contradictory to, or in opposition to, the provisions hereof, and that in any event, the <br />requirements of this Declaration are paramount and controlling as to the rights and <br />obligations herein set forth and supersede any other requirements in conflict herewith. <br />SECTION 2 TERM OF DECLARATION <br />This Declaration and the Terms of Affordability, specified herein, apply to the Property <br />immediately upon recordation and Owner shall comply with all restrictive covenants herein. <br />This declaration shall terminate ninety -nine (99) years after Project Completion, unless Orange <br />Long Term Housing Affordability Policy affordability restrictions are terminated due to the sale <br />of the Property to a non - qualified buyer as provided herein and Orange County agrees to the <br />termination of the Declaration. <br />SECTION 3 RECORDING AND FILING; COVENANTS TO RUN WITH <br />THE LAND <br />C. Upon execution of this Declaration by Owner, Owner shall cause this declaration and all <br />amendments hereto to be recorded and filed in the Office of the Register of Deeds of <br />Orange County. <br />D. Owner intends, declares and covenants, on behalf of itself and all future Owners of the <br />Project 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 <br />transfer of the Property (1) shall be and are covenants running with the land, <br />encumbering the Property for the term of this declaration, binding upon Owner's <br />successors in title and all subsequent Owners of the Property; (2) are not merely personal <br />covenants of Owner; and (3) shall bind Owner (and the benefits shall inure to Orange <br />County and any past, present or prospective owner of the Property) and its respective <br />successors and assigns during the term of this Declaration. Owner hereby agrees that any <br />28 <br />