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19 <br />person fails to assume in writing the requirements of this Declaration and the requirements of <br />the DEVELOPMENT AGREEMENT. <br />b. Contemporaneously with the execution, delivery and recording of this Declaration, CHT <br />will acquire good and marketable title to the Property, free and clear of any lien or encumbrance <br />(except encumbrances created pursuant to this Declaration or other encumbrances permitted by <br />Orange County). <br />c. CHT warrants that it will not accept title to the Property subject to and will not execute any <br />other declaration with provisions contradictory to, or in opposition to, the provisions hereof, and <br />that in any event, the requirements of this Declaration are paramount and controlling as to the <br />rights and obligations 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) applies to the Property <br />immediately upon the recordation of this Declaration. CHT and all subsequent owners of the <br />Property shall comply with all covenants herein. This Declaration shall terminate ninety-nine years <br />after the Project completion date as specified in the DEVELOPMENT AGREEMENT. <br />SECTION 3 RECORDING AND FILING; COVENANTS TO RUN WITH THE LAND <br />a. CHT shall cause this declaration and all amendments hereto to be recorded and filed in the <br />Office of the Register of Deeds of Orange County upon its execution. CHT shall pay all fees and <br />charges incurred in connection therewith. <br />b. CHT intends, declares and covenants, on behalf of itself and all future owners of the <br />Property 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 for <br />the term of this Declaration, binding upon all present and future owners of the Property; (2) are <br />not personal covenants of Declarant; and (3) shall bind all present and future owners (and the <br />benefits shall inure to the County and any prospective owner of the Property) and its respective <br />successors and assigns during the term of this Declaration. For the term of this Declaration, each <br />and every contract, lease, deed or other instrument hereafter executed conveying the Property or <br />portion thereof shall expressly provide that such conveyance is subject to this Declaration, <br />provided, however, the covenants contained herein shall survive and be effective regardless of <br />whether such contract, lease, deed, or other instrument hereafter executed conveying the Property <br />or portion thereof provides that such conveyance is subject to this Declaration. It is further the <br />responsibility of CHT to rerecord this Declaration periodically and no less often than one day less <br />than every 30 years from the date hereof for the purpose of renewing the rights of first refusal in <br />the Property or portion thereof including any leasehold interest in the Property or portion thereof. <br />The County retains the right to, periodically and every 30 years after the first recording of the <br />Ground Lease created in Attachment B hereof, register, with the Register of Deeds of Orange <br />County, a notice of preservation of the Restrictive Covenants on the Property as provided in North <br />DocuSign Envelope ID: BDBF6EEB-BEEA-472C-85F1-0820A6F699C3