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

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in the Property or portion thereof. Orange County retains the right to periodically and every thirty (30) years after the first recording of the Declarations of Restrictive Covenants to register, with the Register of Deeds of Orange County, a notice of preservation of the restrictive covenants on the Property as provided in North Carolina General Statute § 47B-4 or any comparable preservation law in effect at the time of the recording of the notice of preservation. It is the intent of this Section of this Agreement that the ninety-nine (99)-year duration of this Declaration of Restrictive Covenants be accomplished and that any future owner(s) of the Property, Habitat for Humanity of Orange County, and Orange County will do what is necessary to ensure the same is not extinguished by N.C. Gen. Stat. § 41-29 or any comparable law purporting to extinguish, by the passage of time, preemptive rights in the Property and by the Real Property Marketable Title Act or any comparable law purporting to extinguish, by the passage of time, non-possessory interests in real property. Habitat for Humanity of Orange County and the County agree to do what each must do to accomplish the duration of the Declarations of Restrictive Covenants. VII. OWNER PERFORMANCE UNDER THIS AGREEMENT A. Owner agrees to use the Project funds for demolition, predevelopment, and infrastructure and site improvement costs on the Property described in Exhibit A to facilitate the future construction and development of sixty (60) affordable housing units (Project dwelling units) for sale to households earning between thirty percent (30%) and eighty percent (80%) of the HUD area median income by family size, as determined by the U.S. Department of Housing and Urban Development and amended from time to time. Notwithstanding any other provision of this Agreement, in the event Owner is unable to complete its obligations under this Agreement, Owner may be required to repay a proportional amount, as determined by the County in its sole discretion, of Project funds expended by the County pursuant to this Agreement. B. Owner agrees and authorizes the County to conduct on-site reviews, examine client and contractor records, client applications and to conduct any other procedures or practices to assure compliance with these provisions. C. Owner agrees to not violate any State or Federal laws, rules or regulations regarding a direct or indirect illegal interest on the part of any employee or elected official of the Owner in the Project or payments made pursuant to this Agreement. D. Owner agrees that to the best of its knowledge, neither the Project nor the funds provided therefore, and the personnel employed in the administration of the program shall be in any way or to any extent engaged in the conduct of political activities in contravention of Chapter 15 of Title 5, United States Code, referred to as the Hatch Act, as applicable. E. Owner shall comply with applicable audit requirements contained in 2 CFR, Subpart F which requires Owner to have an annual audit conducted within nine (9) months of the end of their fiscal year, if Owner has an aggregate expenditure of more than $750,000 Docusign Envelope ID: 4B02F05F-1410-4DCD-BCEE-8DD7A7B20DAF