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4 <br /> <br />property. CHT and the County agree to do what each must do to accomplish the 99 year <br />affordability requirement. <br />10. RESALE PROVISIONS. CHT shall assure compliance with long term affordability of <br />assisted housing units as provided for in the Ground Lease, which Ground Lease shall, <br />as to resale provisions, remain in substantially the form of the current version of the <br />Ground Lease, a copy of which is an exhibit to the Declaration of Restrictive Covenants, <br />for at least 99 years. <br /> <br />11. MISCELLANEOUS PROVISIONS <br /> <br />A. Termination of Agreement. The full benefit of the Project will be realized only after <br />the completion of the affordability periods for the Property assisted with funds designed <br />to provide affordable units to low-income families. It is the County's intention that the <br />full public benefit of the Project shall be completed under the auspices of CHT for the <br />housing unit as follows: <br /> <br />1. In the event that CHT is unable to proceed with any aspect of the Project in a timely <br />manner, and County and CHT determine that reasonable extension(s) for completion <br />will not remedy the situation, then CHT will retain responsibility for requirements <br />for any dwelling units assisted and County will make no further payments to the <br />CHT. <br /> <br />2. In the event that CHT, prior to the contract completion date, is unable to continue to <br />function due to, but, not limited to, dissolution or insolvency of the organization, its <br />filing a petition for bankruptcy or similar proceedings, or is adjudged bankrupt or <br />fails to comply or perform with provisions of this agreement, then CHT shall, upon <br />the County’s request, convey to the County the Property assisted with HOME funds. <br />Conveyance shall be at the sole discretion of County and on a Project dwelling unit <br />by Project dwelling unit basis. Conveyance shall be on the terms set forth herein: <br /> <br />a. Conveyance shall occur within thirty (30) days of County and CHT's agreement <br />of CHT’s inability to continue as a viable organization. <br /> <br />b. CHT shall convey the Property to the County by general warranty deed, free and <br />clear of all liens and encumbrances of record except those which create a <br />beneficial interest in County (Declaration of Restrictive Covenants and Deed of <br />Trust). <br /> <br />B. Default, Remedies. This Agreement may be terminated by a non-defaulting party upon <br />an event of default hereunder, after written notice thereof and thirty (30) days grace <br />period in which the defaulting party may act to cure. As used herein, the term "an event <br />of default" shall mean and refer to a failure or act of omission by either party with <br />respect to any undertaking, obligation, covenant or condition as set forth in this <br />Agreement. With respect to any event of default, the non-defaulting party may exercise <br />any right available to it at law or in equity with respect to such default. <br /> <br />DocuSign Envelope ID: 1C608BEC-B713-4BE4-9E53-CD92D598627F