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<br />EXHIBIT D <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />Prepared by and return to: Orange County Attorney’s Office <br /> P.O. Box 8181; Hillsborough, NC 27278 <br /> <br />PIN No.: 9788-01-6994 <br /> <br />DECLARATION OF RESTRICTIVE COVENANTS <br /> <br />THIS DECLARATION OF RESTRICTIVE COVENANTS (“Declaration”), dated <br />________________, by Inter-church Council Housing Corporation, a North Carolina Non Profit <br />Corporation, for itself and its successors and assigns (“Owner” or “InChuCo”), is given as a <br />condition precedent to the award of funds. <br /> <br />RECITALS: <br /> <br /> WHEREAS, the County, in the implementation of the 2016 Orange County <br />Affordable Housing Bond program, solicited applications for $2.5 Million of Affordable Housing <br />Bond Funds from interested eligible organizations; and <br /> <br />WHEREAS, InChuCo submitted an application for funding to make critical repairs to <br />eight (8) elevated stairwell landings between the upper levels of the four (4) residential buildings <br />at Chase Park Apartments in Chapel Hill, as described in its application submitted for Orange <br />County Affordable Housing Bond Program funds, dated July 31, 2020, which application is <br />incorporated by reference into this Agreement and is on file in the office of the Orange County <br />Department of Housing and Community Development; and <br /> <br />WHEREAS, the Orange County Board of Commissioners on November 5, 2020 approved <br />the award to InChuCo of One Hundred Sixty-Five Thousand Eight Hundred and Forty Dollars <br />($165,840.00) in FY 16 Affordable Housing Bond Program funding (hereinafter, “Project funds”) <br />to support repair of the stairwells at Chase Park Apartments; and <br /> <br />WHEREAS, InChuCo intends to use the Project funds to assist with demolition and <br />infrastructure and site improvement costs, specifically the removal of eight (8) existing elevated <br />metal-and-concrete stairwell landings and the fabrication and installation of new ones, at Chase <br />Park Apartments (hereinafter, “the Project”), InChuCo’s affordable housing development in <br />Chapel Hill with forty (40) affordable rental units leased to households earning not more than <br />DocuSign Envelope ID: D9F5DB48-6B35-4950-A760-8532DDEBD76E