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DocuSign Envelope ID:66F168C2-3C54-4274-9428-4F16B3F1802A <br /> qualified homebuyer. Each housing unit will consist of a 99 year Ground Lease (renewable for <br /> an additional 99 years) to the project dwelling unit. The Ground Lease, the form of which is <br /> Attachment B hereto, provides for the long term affordability (at least 99 years) of the housing <br /> unit and provides remedies to insure the long term affordability of the housing unit. CHT hereby <br /> declares and covenants, on behalf of itself and all future owners of the Property, that, during the <br /> term of this Declaration, the County is a third party beneficiary of and successor to each and <br /> every remedy intended to insure the long term affordability of the housing unit that is provided <br /> for in the Ground Lease and may, in the event of the failure or default of the Lessor in the <br /> Ground Lease to insure the long term affordability of the housing unit as provided for in the <br /> Ground Lease, exercise all rights and remedies available to the Lessor in the Ground Lease for <br /> that purpose. <br /> b. CHT covenants that it will not knowingly take or permit any action that would result in a <br /> violation of the affordability requirements of the DEVELOPMENT AGREEMENT. Orange <br /> County, together with any future owner of the Property may execute and record any amendment <br /> or modification of this Declaration necessary to insure the successful completion of the Project <br /> and the long term affordability (at least 99 years) of the housing units on the Property and such <br /> amendment or modification shall, to the extent permitted by law, either relate back to the date of <br /> recording of this Declaration or not as necessary to carry out the intent of this Declaration, and <br /> be binding on third parties granted rights under this Declaration. CHT expressly covenants and <br /> agrees to rerecord this Declaration periodically and no less often than one day less than every 30 <br /> years from the date hereof for the purpose of renewing the Lessor's option to purchase and right <br /> of first refusal, that are contained in the Attachment B Ground Lease, in the Property or portion <br /> thereof including any leasehold interest in the Property or portion thereof. <br /> C. CHT acknowledges that the primary purpose for requiring compliance by CHT with <br /> restrictions provided in this Declaration is to assure compliance with the long term affordability <br /> requirements of the HOME INVESTMENT PARTNERSHIP PROGRAM, AND BY REASON <br /> THEREOF, CHT, IN CONSIDERATION FOR RECEIVING HOME INVESTMENT <br /> PARTNERSHIP PROGRAM FUNDS FOR THE PROPERTY, HEREBY AGREES AND <br /> CONSENTS THAT THE COUNTY SHALL BE ENTITLED, FOR ANY BREACH OF THE <br /> PROVISIONS HEREIN, AND IN ADDITION TO ALL OTHER REMEDIES PROVIDED BY <br /> LAW OR IN EQUITY, TO ENFORCE BY SPECIFIC PERFORMANCE CHT'S <br /> OBLIGATIONS UNDER THIS DECLARATION IN A STATE COURT OF COMPETENT <br /> JURISDICTION, WITH VENUE IN ORANGE COUNTY. CHT hereby further specifically <br /> acknowledges that the beneficiaries of CHT's obligations hereunder cannot be adequately <br /> compensated by monetary damages in the event of any default hereunder. If legal costs are <br /> incurred by the County, such legal costs, including attorney fees and court costs (including costs <br /> of appeal), are the responsibility of, and may be recovered from the CHT. <br /> SECTION 5 MISCELLANEOUS <br /> a. Severability. The invalidity of any clause, part, or provision of this Declaration shall not <br /> affect the validity of the remaining portions thereof. <br /> 18 <br />