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RB6504 451U1�1U��1lIIlIIIIIlIllllllllllll111 <br />00q 461 3I8 <br />voluntary or involuntary or by operation of law shall be subject to the provisions of <br />SECTION 4 of this Declaration. <br />C. Owner will, at the time of execution, delivery and recording of this Declaration, have <br />good and marketable title to the Property, free and clear of any lien or encumbrance <br />(except encumbrances created pursuant to this Declaration or other permitted <br />encumbrances). <br />D. 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 THE LAND <br />A. 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 />B. Owner intends, declares and covenants, on behalf of itself and all future Owners of the <br />Project during the tern 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 />and all requirements or privileges of estate are intended to be satisfied, or in the alternate, <br />that an equitable servitude has been created to insure that these restrictions run with the <br />Property. For the term of this Declaration, each and every contract, deed or other <br />16 <br />