2026-056-E-Housing Dept-Habitat for Humanity Orange County-CIP

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dated September 27, 2023, which is hereby incorporated herein and made part of this Agreement; and WHEREAS, notwithstanding any provision of this Agreement, the County and the Owner hereto agree and acknowledge that this Agreement does not constitute a final commitment of funds or site approval, and that the provision of such funds to the Project is conditioned upon Orange County’s determination to proceed with, modify, or cancel the project based on the results of any required environmental or permitting review. WHEREAS, Orange County requires and Owner agrees as a condition precedent to the awarding of Orange County Capital Investment Plan Affordable Housing Program funds that Owner execute, deliver and record this Declaration in the Office of the Register of Deeds of Orange County in order to create certain covenants pertaining to the Property and running with the land for the purpose of enforcing the County’s long-term affordability requirements of the Orange County Affordable Housing Bond and Capital Investment Partnership Program Policy. NOW, THEREFORE, in consideration of the promises and covenants hereinafter set forth and of other valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Owner intends, declares, and covenants that the regulatory and restrictive covenants set forth herein governing the use, occupancy, and transfer of the Property shall be and are covenants pertaining to the Property and running with the land for the term stated herein and are binding upon all subsequent owners of the Property and for such term, except as specifically provided herein, and are not merely personal covenants of Owner. SECTION 1 REPRESENTATIONS, COVENANTS AND WARRANTIES OF OWNER Owner hereby represents, covenants and warrants as follows: A. It is contemplated that the Property will be used throughout the ninety-nine (99) years after Project Completion (defined as the Property developed and conveyed to income-qualified homebuyers earning between thirty percent (30%) and eighty percent (80%) of HUD area median income). B. In the event Owner sells, transfers or exchanges the Property or any portion thereof, the following shall pertain: 1. During the Affordability Period and subject to the requirements of the DEVELOPMENT AGREEMENT between Owner and County dated February 12 2026, which is hereby incorporated by reference and made a part of this Declaration, and the Capital Investment Plan Affordable Housing Program and this Declaration, Owner may sell, transfer, or exchange the Property to a qualified low-income buyer; provided, however, Owner 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 DEVELOPMENT AGREEMENT. Owner agrees that County may void any sale, transfer, or exchange of the Property or any Docusign Envelope ID: 4B02F05F-1410-4DCD-BCEE-8DD7A7B20DAF