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DocuSign Envelope ID: 7C3119A7- D81B- 45AB- 993C- 13CE5D767031 <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 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, as <br />applicable, encumbering the Property for the term of this declaration, binding upon <br />Owner's successors in title and all subsequent Owners of the Property; (2) are not merely <br />personal covenants of Owner; and (3) shall bind Owner (and the benefits shall inure to <br />Orange County and any past, present or prospective owner of the Property) and its <br />respective successors and assigns during the term of this Declaration. Owner hereby <br />agrees that any and all requirements or privileges of estate are intended to be satisfied, or <br />in the alternate, that an equitable servitude has been created to insure that these <br />restrictions run with the Property. For the term of this Declaration, each and every <br />contract, deed or other instrument hereafter executed conveying the Property or portion <br />thereof shall expressly provide that such conveyance is subject to this Declaration, <br />provided, however, the covenants contained herein shall survive and be effective <br />regardless of whether such contracts, deed, or other instrument hereafter executed <br />conveying the Property or portion thereof provides that such conveyance is subject to this <br />Declaration. Orange County retains the right to, periodically and every 30 years after the <br />first recording of the Declaration of Restrictive Covenants on the Property to register, <br />with the Register of Deeds of Orange County, a notice of preservation of the Restrictive <br />Covenants on the Property as provided in North Carolina General Statute § 47B -4 or any <br />comparable preservation law in effect at the time of the recording of the notice of <br />preservation. It is the intent of this Section that the twenty (20) year duration of this <br />Declaration of Restrictive Covenants be accomplished and that any future owner of the <br />Property, Owner, and Orange County will do what is necessary to ensure that the same is <br />not extinguished by N.C. Gen. Stat. § 41 -29 or any comparable law purporting to <br />extinguish, by the passage of time, preemptive rights in the Property and by the Real <br />Property Marketable Title Act or any comparable law purporting to extinguish, by the <br />passage of time, non - possessory interests in real property. Any future owner, Owner and <br />Orange County agree to do what each must do to accomplish the twenty (20) year <br />duration of this Declaration of Restrictive Covenants. <br />19 <br />