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<br /> <br /> <br />County, of any buyer or successor or other person acquiring the Property or any <br />interest therein, that such acquisition is subject to the requirements of this Declaration <br />and to the requirements of the DEVELOPMENT AGREEMENT and the Orange <br />County HOME Investment Partnership Program. Owner agrees that County may <br />void any sale, transfer, or exchange of the Property or any portion of this Property if <br />the buyer or successor or other person fails to assume in writing the requirements of <br />this Declaration and the requirements of the DEVELOPMENT AGREEMENT and <br />the Orange County HOME Investment Partnership Program. <br /> <br />2. 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 /> <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 /> <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 /> <br />SECTION 2 TERM OF DECLARATION <br /> <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 />HOME Investment Partnership Program (Long Term Housing Affordability Policy) affordability <br />restrictions are terminated due to the sale of the Property to a non-qualified buyer as provided <br />herein and Orange County agrees to the termination of the Declaration as provided in Section <br />4.B. below. <br /> <br />SECTION 3 RECORDING AND FILING; COVENANTS TO RUN WITH THE LAND <br /> <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 /> <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, <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 />DocuSign Envelope ID: 1DB0D1D0-6B1C-4086-81CB-264D8410FEAB