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dwelling unit is located on the property more particularly described in EXHIBIT A attached <br />hereto and made a part of this Agreement (hereinafter referred to as “the Property”); and <br />WHEREAS, the Owner agrees to utilize HOME funds provided for the purpose of <br />acquiring the Property as described in its 2017-18 HOME Program application which is hereby <br />incorporated into and made part of this Agreement; and <br />WHEREAS,notwithstanding any provision of this Agreement, the County and the <br />Owner hereto agree and acknowledge that this Agreement does not constitute a commitment of <br />funds or site approval, and that such commitment of funds or approval may occur only upon <br />satisfactory completion of an environmental review and receipt by Orange County of a Release <br />of Funds from the U.S. Department of Housing and Urban Development under 24 CFR Part §58 <br />if applicable. The parties further agree that the provision of such funds to the project is <br />conditioned on Orange County’s determination to proceed with, modify, or cancel the project <br />based on the results of a subsequent environmental review. <br />WHEREAS,EmPOWERment, Inc. has signed this Declaration agreeing to the terms of <br />this Declaration, its obligations pursuant to this Declaration and agreeing to the terms of the <br />DEVELOPMENT AGREEMENT between EmPOWERment, Inc. and the County dated July 22, <br />2019,which is hereby incorporated by reference into and made part of this Agreement between <br />the County and EmPOWERment, Inc. A copy of the DEVELOPMENT AGREEMENT is on file <br />with the Office of the Clerk to the Orange County Board of County Commissioners; <br />NOW, THEREFORE, in consideration of the promises and covenants hereinafter set forth and <br />of other valuable consideration, the receipt and sufficiency of which is hereby acknowledged, <br />Owner intends, declares, and covenants that the regulatory and restrictive covenants set forth <br />herein governing the use, occupancy, and transfer of the Property shall be and are covenants <br />pertaining to the Property and running with the land for the term stated herein <br />and are binding upon all subsequent owners of the Property and for such term, except as <br />specifically provided herein, and are not merely personal covenants of Owner. <br />SECTION 1 REPRESENTATIONS, COVENANTS AND WARRANTIES OF OWNER <br />Owner hereby represents, covenants and warrants as follows: <br />a. It is contemplated that the Property and the Project will be used, during the ninety-nine <br />years after Project Completion (defined as the last of the following events: the Property is <br />acquired, rehabilitated, if necessary, and the Project dwelling unit occupied by a low- <br />income family), for rental housing to families earning up to 60% of HUD area median <br />income. In the event Owner sells, transfers or exchanges the Property or any portion of <br />the Property, the following shall pertain: <br />1. Subject to the requirements of the DEVELOPMENT AGREEMENT, the Orange <br />County 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 />DocuSign Envelope ID: 26C611FC-889B-477B-8950-766E41A4752D