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owner of the Property, OCHLT and Orange County will do what is necessary to ensure that the <br />same is not extinguished by N.C. Gen. Stat. § 41-29 or any compazable law purporting to <br />extinguish, by the passage of time, preemptive rights in the Property and by the Real Property <br />Marketable Title Act or any compazable law purporting to extinguish, by the passage of time, non <br />possessory interests in real property. Any future owner of the Property, OCHLT and Orange <br />County will to do what each must do to accomplish the 99 yeaz duration of this Declazation of <br />Restrictive Covenants. <br />SECTION 4 ENFORCEMENT OF AFFORDABLE HOUSING REQUIREMENTS <br />a. At the time of resale of the project dwelling unit, OCHLT will convey a housing unit to <br />qualified homebuyer. Each housing unit will consist of a 99 yeaz ground lease (renewable for an <br />additional 99 years) to the housing unit and a warranty deed to the improvements on the leased <br />premises. The ground lease, the form of which is Exhibit C hereto, provides for the long term <br />affordability (at least 99 yeazs) of the housing unit and provides remedies to insure the long term <br />affordability of the housing unit. OCHLT hereby declares and covenants, on behalf of itself and <br />all future owners of the Property, that, during the term of this Declazation, the County is a third <br />party beneficiary of and successor to each and every remedy intended to insure the long term <br />affordability of the housing unit that is provided for in the ground lease and may, in the event of <br />the failure or default of the Lessor in the ground lease to insure the long term affordability of the <br />housing unit as provided for in the ground lease, exercise all rights and remedies available to the <br />Lessor in the ground lease for that purpose. <br />b. OCHLT covenants that it will not knowingly take or permit any action that would result <br />in a violation of the affordability requirements of the DEVELOPMENT AGREEMENT. Orange <br />County, together with any future owner of the Property may execute and record any amendment <br />or modification of this Declaration necessary to insure the successful completion of the Project <br />and the long term affordability (at least 99 years) of the housing units on the Property and such <br />amendment or modification shall, to the extent permitted by law, either relate back to the date of <br />recording of this Declaration or not as necessary to carry out the intent of this Declaration, and be <br />binding on third parties granted rights under this Declaration. OCHLT expressly covenants and <br />agrees to rerecord this Declaration periodically and no less often than one day less than every 30 <br />yeazs from the date hereof for the purpose of renewing the Lessor's option to purchase and right <br />of first refusal, that aze contained in the Exhibit C ground lease, in the Property or portion thereof <br />including any leasehold interest in the Property or portion thereof. <br />c. OCHLT acknowledges that the primary purpose for requiring compliance by OCHLT <br />with restrictions provided in this Declaration is to assure compliance with the long term <br />affordability requirements of the HOME INVESTMENT PARTNERSHIP PROGRAM, AND <br />BY REASON THEREOF, OCHLT, IN CONSIDERATION FOR RECEIVING HOME <br />INVESTMENT PARTNERSHIP PROGRAM FUNDS FOR THE PROPERTY, HEREBY <br />AGREES AND CONSENTS THAT THE COUNTY SHALL BE ENTITLED, FOR ANY <br />BREACH OF THE PROVISIONS HEREIN, AND IN ADDITION TO ALL OTHER <br />REMEDIES PROVIDED BY LAW OR IN EQUITY, TO ENFORCE BY SPECIFIC <br />14 <br />