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<br />18 <br /> <br />any interest therein, that such acquisition is subject to the requirements of this <br />Declaration and to the requirements of the DEVELOPMENT AGREEMENT and the <br />HOME INVESTEMENT PARTNERSHIP PROGRAM. Owner agrees that County <br />may void any sale, transfer, or exchange of the Property or any portion of this Property <br />if the buyer or successor or other person fails to assume in writing the requirements of <br />this Declaration and the requirements of the DEVELOPMENT AGREEMENT and the <br />HOME INVESTMENT PARTNERSHIP PROGRAM. A copy of the <br />DEVELOPMENT AGREEMENT is on file with the Office of the Clerk to the Orange <br />County Board of County Commissioners. Upon expiration of the HOME Affordability <br />Period and prior to expiration of the ninety-nine (99) years from Project Completion, <br />Owner may sell, transfer, or exchange the Property to a Qualified Buyer as defined in <br />the County’s Long-Term Affordability Policy or to a non-profit fund, foundation, or <br />corporation of like purpose which is organized and operated exclusively for charitable <br />and educational purposes and which has established its tax exempt status under Section <br />501 (c)(3) of the Internal Revenue Code, or to Orange County; provided, however, <br />Owner shall obtain the written agreement, in form satisfactory to Orange County, of <br />any buyer or successor or other person acquiring the Property or any interest therein, <br />that such acquisition is subject to the requirements of this Declaration and to the <br />requirements of the County’s Long-Term Affordability Policy. <br /> <br />2. Any assignment, sale, transfer, conveyance or other disposition of the Property or any <br />part of the Property other than as described in subparagraph 1 above, whether voluntary <br />or involuntary or by operation of law shall be subject to the provisions of SECTION 4 <br />of this Declaration. <br /> <br />D. Owner will, at the time of execution, delivery and recording of this Declaration, have good <br />and marketable title to the Properties, free and clear of any lien or encumbrance (except <br />encumbrances created pursuant to this Declaration or other permitted encumbrances). <br /> <br />E. Owner warrants that it has not and will not execute any other declaration with provisions <br />contradictory to, or in opposition to, the provisions hereof, and that in any event, the <br />requirements of this Declaration are paramount and controlling as to the rights and <br />obligations herein set forth and supersede any other requirements in conflict herewith. <br /> <br />SECTION 2 TERM OF DECLARATION <br /> <br />This Declaration and the Terms of Affordability, specified herein, apply to the Property <br />immediately upon recordation and Owner shall comply with all restrictive covenants herein. This <br />declaration shall terminate ninety-nine (99) years after Project Completion, unless HOME <br />Investment Partnership Program affordability restrictions or Orange County Long-Term <br />Affordability Policy restrictions are terminated due to the sale of the Property to a non -qualified <br />buyer as provided herein and Orange County agrees to the termination of the Declaration. <br /> <br />SECTION 3 RECORDING AND FILING; COVENANTS TO RUN WITH THE LAND <br /> <br />A. Upon execution of this Declaration by Owner, Owner shall cause this declaration and all <br />DocuSign Envelope ID: 48DDB7F3-249B-44E9-A965-4AB2E5C0F864