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DocuSign Envelope ID:66F168C2-3C54-4274-9428-4F16B3F1802A <br /> Exhibit C <br /> Prepared by and return to: Anne Marie Tosco, Orange County Attorney's Office <br /> P.O. Box 8181; Hillsborough,NC 27278 <br /> DECLARATION OF RESTRICTIVE COVENANTS <br /> THIS DECLARATION OF RESTRICTIVE COVENANTS (Declaration), dated <br /> , by Community Home Trust, Inc. of Orange County, NC, Inc. for itself and <br /> its successors and assigns ("Owner"), is given as a condition precedent to the award of Orange <br /> County HOME Investment Partnership Program funds. <br /> RECITALS: <br /> WHEREAS, the Orange County HOME Consortium has designated $60,000 in FY <br /> 2018-19 HOME funds for the purpose of homebuyer financial assistance for two (2) families in <br /> the Northside and Pine Knolls neighborhood of Chapel Hill (hereafter referred to as the <br /> "Project" or the "project dwelling units"); and <br /> WHEREAS, Orange County is the lead entity of the Orange HOME Consortium, so <br /> designated in an agreement dated July 1, 2011, and as such is the lead entity in a representative <br /> capacity for all members of the Orange HOME Consortium for the purposes of carrying out the <br /> HOME Program in accordance with the Title II of the Cranston-Gonzalez National Affordable <br /> Housing Act (Pub. L. 101-625), (42 U.S.C. 3535(d.) et. sM.) (hereinafter referred to as the "Act"), <br /> and as further defined in the Federal Program Requirements provided by the U.S. Department of <br /> Housing and Urban Development; and <br /> WHEREAS, the Community Home Trust (CHT) formerly known as Orange <br /> Community Housing and Land Trust (OCHLT) intends to provide financial assistance to up to <br /> two (2) homebuyers by making housing available for lease, as described herein, to buyers <br /> earning between 65% and 80% of the HUD area median income by family size as described in <br /> CHT's Housing Projects Funding Application dated August 16, 2017, which Application is <br /> incorporated by reference into this Agreement and is on file in the Orange County Department <br /> of Housing and Community Development. <br /> WHEREAS, notwithstanding any provision of this Agreement, the County and CHT hereto <br /> agree and acknowledge that this Agreement does not constitute a commitment of funds or site <br /> 15 <br />