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17 <br />Exhibit D <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, on May 18, 2018, the Orange County HOME Consortium designated up to <br />Sixty Thousand Dollars ($60,000) in FY 2018-19 HOME Funds, for the purpose of homebuyer <br />financial assistance for two (2) families in the Northside and Pine Knolls neighborhood of Chapel <br />Hill; and <br />WHEREAS, the County is the lead entity of the Orange County 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. seq.) (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, CHT submitted a request dated December 10, 2019 for the reallocation of <br />FY 2018-19 HOME funds to assist in the acquisition of property for resale to a household earning <br />less than 80% of the HUD area median income; and <br />WHEREAS, on December 2, 2019 the Orange County Board of County Commissioners <br />approved the December 10, 2019 request and reallocated $15,000 to CHT for the aforementioned <br />purpose; and <br />DocuSign Envelope ID: BDBF6EEB-BEEA-472C-85F1-0820A6F699C3 <br />