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DocuSign Envelope ID: F396A7D5-62F3-4B5B-A968-F49AA5397EFF <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 Orange County <br /> may void any sale, transfer, or exchange of the Property or any portion of the <br /> Property if the buyer or successor or other person fails to assume in writing the <br /> requirements of this Declaration and the requirements of the DEVELOPMENT <br /> AGREEMENT and the Orange County 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 <br /> good 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, and that in any event, the <br /> requirements of this Declaration are paramount and controlling as to the rights and obligations <br /> herein set forth and supersede any other requirements in conflict herewith. <br /> SECTION 2 TERM OF DECLARATION <br /> a. 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 years after Project Completion, unless Orange <br /> County HOME Investment Partnership Program affordability restrictions are terminated due to <br /> the sale of the Property to a non-qualified buyer as provided Section 4B below. <br /> SECTION 3 RECORDING 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 Orange <br /> County. <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 transfer <br /> of the Property(1) shall be and are covenants running with the land, encumbering the Property <br /> for the term of this declaration, binding upon Owner's successors in title and all subsequent <br /> Owners of the Property; (2) are not merely personal covenants of Owner; and(3) shall bind <br /> Owner(and the benefits shall inure to Orange County and any past,present or prospective owner <br />