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16 <br />hereto), the HOME Investment Partnership Program and this Declaration, Owner may <br />sell, transfer, or exchange the Property to a non-profit fund, foundation, or <br />corporation of like purpose which is organized and operated exclusively for charitable <br />and educational purposes and which has established its tax exempt status under <br />Section 501 (c)(3) of the Internal Revenue Code, or to Orange County; provided, <br />however, Owner shall obtain the written agreement, in form satisfactory to Orange <br />County, ofany 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 HOME <br />INVESTEMENT PARTNERSHIP PROGRAM. Owner agrees that County may void <br />any sale, transfer, or exchange of the Property or any portion of this Property if the <br />buyer or successor or other person fails to assume in writing the requirements of this <br />Declaration and the requirements of the DEVELOPMENT AGREEMENT and the <br />HOME INVESTMENT PARTNERSHIP PROGRAM. <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 />B.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 />C.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, andthat 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 an y other requirements in conflict herewith. <br />SECTION 2TERM 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) yearsafter Project Completion, unless Orange <br />HOME Investment Partnership Program 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 3RECORDING AND FILING; COVENANTS TO RUN WITH <br />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 />DocuSign Envelope ID: 12C19140-2C02-498E-AD84-772B4830D31B