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DocuSign Envelope ID: 65EC9D62 -7FB9- 4747- A005- FC28FEF750E3 <br />Each of the Project dwelling units must remain affordable for a period of fifteen years. <br />CASA retains full responsibility for compliance with the affordability requirement for <br />each of the Project dwelling units, unless affordability restrictions are terminated due to <br />the sale of the Property to a non - qualified buyer in which case the Resale Provisions of <br />Section V of the Agreement pertain. CASA shall assure compliance with affordability of <br />each of the Project dwelling units on the Johnson Street Apartments Property as provided <br />in the Declaration of Restrictive Covenants recorded at Book 3235, Page 333, Orange <br />County Registry ( "the Johnson Street Declaration ") and dated October 17, 2003, the <br />obligations of which Johnson Street Declaration were assigned to and assumed by <br />Community Alternatives Supportive Abodes, which as provided in the Assignment, <br />Assumption, and Consent to Transfer Real Property recorded at Book 4867 at Page 28, <br />Orange County Registry, and recorded December 3, 2009. Community Alternative <br />Supportive Abodes filed Articles of Amendment with the North Carolina Secretary of <br />State amending its legal name from Community Alternatives for Supportive Abodes to <br />CASA on September 25, 2015. This Johnson Street Declaration shall constitute and <br />remain a lien on the Johnson Street Apartments Property during the Period of <br />Affordability. <br />CASA shall assure compliance with affordability of each of the Project dwelling <br />units on the Club Nova Apartments Property by having recorded a "Declaration of <br />Restrictive Covenants," ( "the Club Nova Declaration ") the form of which is attached <br />hereto as Exhibit D, on the Property. This Club Nova Declaration shall constitute and <br />remain a first lien on the Club Nova Apartments Property during the period of <br />affordability. <br />It is further the responsibility of CASA to rerecord both Declarations of <br />Restrictive Covenants periodically and no less often than one day less than every 30 years <br />from the date hereof for the purpose of renewing the rights of first refusal in the Property <br />or portion thereof including any leasehold interest in the Property or portion thereof. <br />Orange County retains the right to periodically and every 30 years after the first recording <br />of the Declarations of Restrictive Covenants to register, with the Register of Deeds of <br />Orange County, a notice of preservation of the restrictive covenants on the Property as <br />provided in North Carolina General Statute § 4713-4 or any comparable preservation law <br />in effect at the time of the recording of the notice of preservation. It is the intent of this <br />Section of this Agreement that the 15 year duration of these Declarations of Restrictive <br />Covenants be accomplished and that any future owner of the Property, CASA, and <br />Orange County will do what is necessary to ensure the same is not extinguished by N.C. <br />Gen. Stat. § 41 -29 or any comparable law purporting to extinguish, by the passage of <br />time, preemptive rights in the Property and by the Real Property Marketable Title Act or <br />any comparable law purporting to extinguish, by the passage of time, non possessory <br />interests in real property. CASA and the County agree to do what each must do to <br />accomplish the 15 year duration of the Declarations of Restrictive Covenants. <br />Resale Provisions <br />CASA shall assure compliance with affordability of each of the Project dwelling units <br />through the Declarations of Restrictive Covenants. The Declarations of Restrictive <br />