2024-567-E-Housing Dept-Pee Wee Homes-Construction Financing

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dated -,2024 which is hcrcby incorp oratcd by rcfcrcncc and madc a panof this Declaration, and the HOME Investnrent Partncrship Prograrn and this Declaration. Owner may scll, transfer, or cxchange the Properry to a qualified lorv- income buycr; provided. howcvcr, Owncr shall obtain thc writtcn agreemcnr. in form satisfactory to Orangc County, of any buycr or successor or othcr pcrson acquiring the Property or any interest thcrein, that such acquisition is subject to thc rcquirements of this Dcclaration and to the rcquirements of thc DEVELOPMENT AGREEMENT and the HOME TNVESTMENT PARTNERSHIP PROGRAM. Owncr agrees that County rnay void any salc, transfcr, or exchangc of thc Property or any portion of this Property if thc buyer or successor or other person fails to assumein writing thc rcquircmcnts of this Dcclaration and thc rcquircmcnts of thc DEVELOPMENT AGREEMENT and the HOME INVESTMENT PARTNERSHIP PROGRAM. A copy of thc DEVELOPMENT AGREEMENT is on titc with thc Office of thc Clerk to the Orange County Board of County Commissioners. Upon expiration of the HOME Affordability Period and prior to cxpiration of thc nincry- nine (99) years from Project Completion, Owner may sell, transfcr, or exchange the Property to a Qualified Buyer as defined in the County's Long-Tenn Affordability Policy or to a non-profit fund, foundation, or corporation of like purpose rvhich is organized and operated exclusively for charitable and educational purposes and rvhich has establishcd its tax exempt status undcr Scction 501 (cX3) of thc Intcrnal Revenuc Code, or to Orange County; provided, however, Orvner shall obtain the written agreement, in form satisfactory to Orange County, of any buyer or successor or other person acquiring the Property or any interest therein, that such acquisition is subject to the requirements of this Declaration and to the requirements of the County's Long- Term Affordability Pol icy. 2. Any assignment, sale, transfer, conveyance or other disposition of the Propert'n or any part of the Property other than as described in subparagraph I above, whether voluntary or involuntary or by operation of law shall be subject to the provisions of SECTION 4 of this Declaration. D. Owner will, at the time of execution, delivery and recording of this Declaration, have good and marketable title to the Properties, free and clear of any lien or encumbrance (except encumbrances created pursuant to this Declaration or other permitted encumbrances). E. Owner warrants that it has not and will not execute any other declaration with provisions contradictory to, or in opposition to, the provisions hereof, and thal in any event, the requirements of this Declaration are paramount and controlling as to the rights and obligations herein set forth and supcrsede any other requirements in conflict herewith. SECTION 2 TERM OF DECLARATION This Declaration and the Terms of Affordability, specified herein, apply to the Property immediately upon recordation and Owner shall comply with all restrictive covenants herein. Tlris declaration shall terminate ninety-nine (99) years after Project Completion, unless HOME _j Docusign Envelope ID: A7F54EB6-02F6-4B44-B5FA-9D9112C03224