Orange County NC Website
Browse       Search
<br />EXHIBIT D <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />Prepared by and after recording return to: Morgan Pierce, Orange County Attorney’s Office, P.O. Box <br />8181, Hillsborough, NC 27278 <br /> <br />DECLARATION OF RESTRICTIVE COVENANTS <br /> <br />THIS DECLARATION OF RESTRICTIVE COVENANTS (“Declaration”), dated <br />________, 2022, by EmPOWERment, Inc. for itself and its successors and assigns (“Owner” or <br />“EmPOWERment”), is given as a condition precedent to the award of Orange County HOME <br />Investment Partnership funds. <br /> <br />RECITALS: <br /> <br />WHEREAS, the Orange County HOME Consortium has designated up to One Hundred <br />and Five Thousand Dollars ($105,000) in FY 2022-23 HOME funds to assist in the acquisition <br />of a townhome containing one unit for affordable rental; and <br /> <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 /> <br />WHEREAS, the Owner intends to acquire property, located at 105 Fidelity Street <br />Carrboro, North Carolina (hereinafter referred to as “the Project” or the “Project dwelling unit”), <br />as rental housing for one low-income family earning less than 60% of the Area Median Income. <br />The Project dwelling unit is located on the property more particularly described in Exhibit A <br />attached hereto and made a part of this Agreement (hereinafter referred to as “the Property”); and <br /> <br /> WHEREAS, the Owner agrees to utilize HOME funds provided for the purpose of <br />acquiring the Property as described in its HOME Program Funding Application dated February <br />25, 2022, which is hereby incorporated into and made part of this Agreement; and <br /> <br />DocuSign Envelope ID: 48DDB7F3-249B-44E9-A965-4AB2E5C0F864