Common use of DECLARATION Clause in Contracts

DECLARATION. (a) Owner and Builder acknowledge and agree that each Property is or may be (if at all, no later than the first Takedown) subject to a declaration of covenants, conditions and restrictions (a “Declaration”) for the homeowners association governing the Property (an “Association”). If recorded after Owner’s acquisition of the Property, the Declaration shall be executed by Builder as Declarant and joined in and consented to by Owner as the owner of the Homesites, and if applicable executed by the Association as owner of the Common Areas, in form and substance acceptable to Owner and Builder, each in its reasonable discretion. Owner shall cooperate with Builder in taking the necessary steps to form the Association for the eventual transfer of control of the Common Areas in compliance with the phasing schedules for the Property and the budget for the Association. Owner shall review and approve or disapprove any documents submitted (or resubmitted) by Builder related to the formation of the Association and/or the transfer of control of the Common Areas within ten (10) business days of Owner’s receipt, and if Owner is approving such documents it shall also promptly execute same (to the extent required by the applicable governmental authorities). Owner shall not unreasonably withhold, condition or delay its approval and/or execution of any documents so submitted, and it shall respond with specificity as to its reasons for disapproval if Owner fails to take Builder’s desired action with respect thereto. (b) As part of the material consideration to Owner in exchange for Owner’s grant of the Option to Builder, prior to the Option Termination Date Builder shall, at its expense, perform all of the obligations of the Declarant set forth in the Declaration (as may be amended or modified), including without limitation, making the payment of all fees, assessments, dues, charges and other sums allocable to the Property, if any, prior to the due date thereof and Builder shall otherwise comply with all provisions of the Declaration (as may be amended or modified) applicable to Builder, Owner or the Property. The obligations of Builder which accrue pursuant to the preceding sentence (or relate solely to the period) after the Option Termination Date shall terminate immediately following said Option Termination Date, except with respect to any Homesites which have been previously acquired by Builder hereunder. Other than as set forth in this Section 6.6, during the term of this Agreement with respect to any Homesite(s), neither party shall have the right to (i) record any covenants, conditions or restrictions against the Property, (ii) amend, terminate or de-annex the Homesites from, or agree to amend, terminate or de-annex the Homesites from, the Declaration, or (iii) record any other instrument, agreement, document or memorandum against the Property, without the other’s prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed. (c) If requested by Owner, upon the expiration or earlier termination of the Option prior to Builder’s acquisition of all Homesites on a Property (such Homesites which have not been acquired by Builder as of such termination being referred to herein as the “Unpurchased Homesites”), Builder, at its expense, shall assign its rights (if any) as Declarant with respect to the Unpurchased Homesite by recordable instrument and otherwise in accordance with the requirements of the Declaration. If applicable, on and after any such assignment, Owner shall cooperate with Builder and execute any documents reasonably requested by Builder to facilitate Builder’s continued development and sale of the Homesites acquired by Builder, including as needed to ensure Builder may annex the purchased Homesites and Common Areas into the Declaration. Additionally, even if Builder, or an affiliate or subsidiary of Parent or Builder, is not the named declarant or developer (or similar term) under the Declaration, nor otherwise has the ability to assign such rights or grant such consents, Builder shall nonetheless cooperate with and assist Owner in seeking such assignments, consents and waivers from the appropriate parties under the Declaration.

DECLARATION. (a) Owner 8.1 The Contractor hereby declares that it has not obtained or induced the procurement of any Contract, right, interest, and Builder acknowledge and agree that each Property is privilege or may be (if at all, no later than other obligation or benefit from Company through any corrupt business practices. 8.2 Without limiting the first Takedown) subject to a declaration of covenants, conditions and restrictions (a “Declaration”) for the homeowners association governing the Property (an “Association”). If recorded after Owner’s acquisition generality of the Propertyforegoing, the Declaration Contractor represents and warrants that it has fully declared the brokerage, commission, fees etc. paid or payable to anyone and not given or agreed to give and shall be executed by Builder not give or agree to give to anyone within or outside Pakistan either directly or indirectly through any natural or juridical person, including its affiliate, agent, associate, broker, Contractor, director, promoter, shareholder, sponsor or subsidiary, any commission, gratification, bribe, finder’s fee or kickback, whether described as Declarant and joined in and consented to by Owner as the owner of the Homesitesconsultation fee or otherwise, and if applicable executed by the Association as owner of the Common Areas, in form and substance acceptable to Owner and Builder, each in its reasonable discretion. Owner shall cooperate with Builder in taking the necessary steps to form the Association for the eventual transfer of control of the Common Areas in compliance with the phasing schedules for object of obtaining or inducing the Property procurement of a contract, right, interest, privilege or other obligation or benefit in whatsoever form from the Company, except that which has been expressly declared pursuant hereto. 8.3 The Contractor certifies that it has made and the budget for the Association. Owner shall review make full disclosure of all agreements and approve arrangements with all persons in respect of or disapprove any documents submitted (or resubmitted) by Builder related to the formation transaction with the Company and has not taken any action or will not take any action to circumvent the above declaration, representation or warranty. 8.4 The Contractor accepts full responsibility and strict liability for making any false declaration, not making full disclosure, misrepresenting facts or taking any action likely to defeat the purpose of the Association and/or the transfer of control of the Common Areas within ten (10) business days of Owner’s receiptthis declaration, representation and if Owner is approving such documents it shall also promptly execute same (warranty. It agrees that any Contract, right, interest, privilege or other obligation or benefit obtained or procured as aforesaid shall, without prejudice to any other rights and remedies available to the extent required by the applicable governmental authorities). Owner shall not unreasonably withholdCompany under any law, condition Contract or delay its approval and/or execution of any documents so submitted, and it shall respond with specificity as to its reasons for disapproval if Owner fails to take Builder’s desired action with respect thereto. (b) As part of the material consideration to Owner in exchange for Owner’s grant of the Option to Builder, prior to the Option Termination Date Builder shall, at its expense, perform all of the obligations of the Declarant set forth in the Declaration (as may be amended or modified), including without limitation, making the payment of all fees, assessments, dues, charges and other sums allocable to the Property, if any, prior to the due date thereof and Builder shall otherwise comply with all provisions of the Declaration (as may be amended or modified) applicable to Builder, Owner or the Property. The obligations of Builder which accrue pursuant to the preceding sentence (or relate solely to the period) after the Option Termination Date shall terminate immediately following said Option Termination Date, except with respect to any Homesites which have been previously acquired by Builder hereunder. Other than as set forth in this Section 6.6, during the term of this Agreement with respect to any Homesite(s), neither party shall have the right to (i) record any covenants, conditions or restrictions against the Property, (ii) amend, terminate or de-annex the Homesites from, or agree to amend, terminate or de-annex the Homesites from, the Declaration, or (iii) record any other instrument, agreement, document or memorandum against be voidable at the Property, without option of the other’s prior written consent, which consent shall not be unreasonably withheld, conditioned or delayedCompany. (c) If requested 8.5 Notwithstanding any rights and remedies exercised by OwnerCompany in this regard, upon the expiration Contractor agrees to indemnify Company for any loss or earlier termination damage incurred by it on account of its corrupt business practices and further pay compensation to Company in an amount equivalent to ten times the Option prior to Buildersum of any commission, gratification, bribe, finder’s acquisition fee or kickback paid by the Contractor as aforesaid for the purpose of all Homesites on a Property (such Homesites which have not been acquired by Builder as obtaining or inducing the procurement of such termination being referred to herein as the “Unpurchased Homesites”)any Contract, Builderright, at its expenseinterest, shall assign its rights (if any) as Declarant with respect to the Unpurchased Homesite by recordable instrument and otherwise privilege or other obligation or benefit in accordance with the requirements of the Declaration. If applicable, on and after any such assignment, Owner shall cooperate with Builder and execute any documents reasonably requested by Builder to facilitate Builder’s continued development and sale of the Homesites acquired by Builder, including as needed to ensure Builder may annex the purchased Homesites and Common Areas into the Declaration. Additionally, even if Builder, or an affiliate or subsidiary of Parent or Builder, is not the named declarant or developer (or similar term) under the Declaration, nor otherwise has the ability to assign such rights or grant such consents, Builder shall nonetheless cooperate with and assist Owner in seeking such assignments, consents and waivers whatsoever form from the appropriate parties under the DeclarationCompany.

DECLARATION. ▇▇▇▇▇ acknowledges and agrees that the Lot and the other portions of Maui ▇▇▇▇ Village Center shall be subject to the restrictions, covenants, conditions, easements and other matters contained in the Declaration. The Declaration contains many important provisions and restrictions relating to the Subdivision and Buyer’s ownership and use of the Lot. By acquiring ownership of the Lot, Buyer, on behalf of ▇▇▇▇▇ and ▇▇▇▇▇’s lessees, tenants, guests, invitees, licensees, employees, and any other person who may occupy or otherwise use the Lot (collectively, in this section, "Buyer"), acknowledges and agrees that Buyer: (a) Owner understands and Builder acknowledge accepts the disclosures, restrictions, covenants, conditions, easements, reservations of rights and agree that each Property is or may be any other matters contained in the Declaration; (if at allb) will observe and perform all of the terms, no later than the first Takedown) subject to a declaration of covenants, conditions and restrictions provisions required to be observed and performed by an "Owner" and an "Occupant" under the Declaration; and (a “Declaration”c) for the homeowners association governing the Property (an “Association”). If recorded after Owner’s acquisition accepts and will abide by all of the Propertyapplicable terms, covenants, conditions and provisions set forth in the Declaration, and all bylaws, design and use requirements, rules and regulations and other items or matters adopted or promulgated pursuant to, or contained in, the Declaration shall be executed by Builder as Declarant and joined Declaration, including those of the Association, whose members will include, among others, the owners of all lots in and consented to by Owner as the Subdivision, including the owner of the Homesites, and if applicable executed by Lot. Without limiting the Association as owner of the Common Areas, in form and substance acceptable to Owner and Builder, each in its reasonable discretion. Owner shall cooperate with Builder in taking the necessary steps to form the Association for the eventual transfer of control of the Common Areas in compliance with the phasing schedules for the Property and the budget for the Association. Owner shall review and approve foregoing or disapprove any documents submitted (or resubmitted) by Builder related to the formation of the Association and/or the transfer of control of the Common Areas within ten (10) business days of Owner’s receipt, and if Owner is approving such documents it shall also promptly execute same (to the extent required by the applicable governmental authorities). Owner shall not unreasonably withhold, condition or delay its approval and/or execution of any documents so submitted, and it shall respond with specificity as to its reasons for disapproval if Owner fails to take Builder’s desired action with respect thereto. (b) As part of the material consideration to Owner in exchange for Owner’s grant of the Option to Builder, prior to the Option Termination Date Builder shall, at its expense, perform all of the obligations of the Declarant set forth in the Declaration (as may be amended or modified), including without limitation, making the payment of all fees, assessments, dues, charges and other sums allocable to the Property, if any, prior to the due date thereof and Builder shall otherwise comply with all provisions of the Declaration (as may be amended or modified) applicable to Builder, Owner or the Property. The obligations of Builder which accrue pursuant to the preceding sentence (or relate solely to the period) after the Option Termination Date shall terminate immediately following said Option Termination Date, except with respect to any Homesites which have been previously acquired by Builder hereunder. Other than as set forth in this Section 6.6, during the term of this Agreement with respect to any Homesite(s), neither party shall have the right to (i) record any covenants, conditions or restrictions against the Property, (ii) amend, terminate or de-annex the Homesites from, or agree to amend, terminate or de-annex the Homesites from, the Declaration, or Buyer acknowledges that the Declaration provides for the assessment of maintenance and other fees (iiiincluding "General Assessments" and other assessments) record any other instrument, agreement, document or memorandum against the Property, without the other’s prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed. (c) If requested by Owner, from and upon the expiration or earlier termination members of the Option prior to Builder’s acquisition Association, including the owners of all Homesites on a Property lots in the Subdivision, and for lien rights upon each lot in the Subdivision, including the Lot, for non-payment of such assessments. The Declaration (such Homesites which have or the most recent draft thereof if it has not been acquired recorded) is more particularly described in the Public Offering Statement, and is included in the Due Diligence Packet. ▇▇▇▇▇ acknowledges that the Declaration may be revised by Builder as of such termination being referred to herein as the “Unpurchased Homesites”), Builder, at its expense, shall assign its rights (if any) as Declarant with respect to the Unpurchased Homesite Seller before it is recorded and amended by recordable instrument and otherwise in accordance with the requirements of the Declaration. If applicable, on and Seller after any such assignment, Owner shall cooperate with Builder and execute any documents reasonably requested by Builder to facilitate Builder’s continued development and sale of the Homesites acquired by Builder, including as needed to ensure Builder may annex the purchased Homesites and Common Areas into the Declaration. Additionally, even if Builder, or an affiliate or subsidiary of Parent or Builder, it is not the named declarant or developer (or similar term) under the Declaration, nor otherwise has the ability to assign such rights or grant such consents, Builder shall nonetheless cooperate with and assist Owner in seeking such assignments, consents and waivers from the appropriate parties under the Declarationrecorded.

DECLARATION. (a) Owner i. The Consultant hereby declares that it has not obtained or induced the procurement of any Contract, right, interest, and Builder acknowledge and agree that each Property is privilege or may be (if at all, no later than other obligation or benefit from Company through any corrupt business practices. ii. Without limiting the first Takedown) subject to a declaration of covenants, conditions and restrictions (a “Declaration”) for the homeowners association governing the Property (an “Association”). If recorded after Owner’s acquisition generality of the Propertyforegoing, the Declaration Consultant represents and warrants that it has fully declared the brokerage, commission, fees etc. paid or payable to anyone and not given or agreed to give and shall be executed by Builder not give or agree to give to anyone within or outside Pakistan either directly or indirectly through any natural or juridical person, including its affiliate, agent, associate, broker, Contractor, director, promoter, shareholder, sponsor or subsidiary, any commission, gratification, bribe, finder’s fee or kickback, whether described as Declarant and joined in and consented to by Owner as the owner of the Homesitesconsultation fee or otherwise, and if applicable executed by the Association as owner of the Common Areas, in form and substance acceptable to Owner and Builder, each in its reasonable discretion. Owner shall cooperate with Builder in taking the necessary steps to form the Association for the eventual transfer of control of the Common Areas in compliance with the phasing schedules for object of obtaining or inducing the Property procurement of a contract, right, interest, privilege or other obligation or benefit in whatsoever form from the Company, except that which has been expressly declared pursuant hereto. iii. The Consultant certifies that it has made and the budget for the Association. Owner shall review make full disclosure of all agreements and approve arrangements with all persons in respect of or disapprove any documents submitted (or resubmitted) by Builder related to the formation transaction with the Company and has not taken any action or will not take any action to circumvent the above declaration, representation or warranty. iv. The Consultant accepts full responsibility and strict liability for making any false declaration, not making full disclosure, misrepresenting facts or taking any action likely to defeat the purpose of the Association and/or the transfer of control of the Common Areas within ten (10) business days of Owner’s receiptthis declaration, representation and if Owner is approving such documents it shall also promptly execute same (warranty. It agrees that any Contract, right, interest, privilege or other obligation or benefit obtained or procured as aforesaid shall, without prejudice to any other rights and remedies available to the extent required by the applicable governmental authorities). Owner shall not unreasonably withholdCompany under any law, condition Contract or delay its approval and/or execution of any documents so submitted, and it shall respond with specificity as to its reasons for disapproval if Owner fails to take Builder’s desired action with respect thereto. (b) As part of the material consideration to Owner in exchange for Owner’s grant of the Option to Builder, prior to the Option Termination Date Builder shall, at its expense, perform all of the obligations of the Declarant set forth in the Declaration (as may be amended or modified), including without limitation, making the payment of all fees, assessments, dues, charges and other sums allocable to the Property, if any, prior to the due date thereof and Builder shall otherwise comply with all provisions of the Declaration (as may be amended or modified) applicable to Builder, Owner or the Property. The obligations of Builder which accrue pursuant to the preceding sentence (or relate solely to the period) after the Option Termination Date shall terminate immediately following said Option Termination Date, except with respect to any Homesites which have been previously acquired by Builder hereunder. Other than as set forth in this Section 6.6, during the term of this Agreement with respect to any Homesite(s), neither party shall have the right to (i) record any covenants, conditions or restrictions against the Property, (ii) amend, terminate or de-annex the Homesites from, or agree to amend, terminate or de-annex the Homesites from, the Declaration, or (iii) record any other instrument, agreement, document or memorandum against be voidable at the Property, without option of the other’s prior written consent, which consent shall not be unreasonably withheld, conditioned or delayedCompany. (c) If requested v. Notwithstanding any rights and remedies exercised by OwnerCompany in this regard, upon the expiration Consultant agrees to indemnify Company for any loss or earlier termination damage incurred by it on account of its corrupt business practices and further pay compensation to Company in an amount equivalent to ten times the Option prior to Buildersum of any commission, gratification, bribe, finder’s acquisition fee or kickback paid by the Consultant as aforesaid for the purpose of all Homesites on a Property (such Homesites which have not been acquired by Builder as obtaining or inducing the procurement of such termination being referred to herein as the “Unpurchased Homesites”)any Contract, Builderright, at its expenseinterest, shall assign its rights (if any) as Declarant with respect to the Unpurchased Homesite by recordable instrument and otherwise privilege or other obligation or benefit in accordance with the requirements of the Declaration. If applicable, on and after any such assignment, Owner shall cooperate with Builder and execute any documents reasonably requested by Builder to facilitate Builder’s continued development and sale of the Homesites acquired by Builder, including as needed to ensure Builder may annex the purchased Homesites and Common Areas into the Declaration. Additionally, even if Builder, or an affiliate or subsidiary of Parent or Builder, is not the named declarant or developer (or similar term) under the Declaration, nor otherwise has the ability to assign such rights or grant such consents, Builder shall nonetheless cooperate with and assist Owner in seeking such assignments, consents and waivers whatsoever form from the appropriate parties under the DeclarationCompany.

DECLARATION. By using the Boost App, activating, using, or authorizing the use of the Boost UnionPay Service in the Boost App, you hereby warrant, represent and declare that: (a) Owner you are a Boost wallet user, and Builder you have an Account with ▇▇▇▇▇; and (b) you acknowledge and agree that each Property is at any time should any of the representations, warranties and/or declarations above cease to be untrue or may we discover to be untrue or that you have misrepresented the same, we shall be fully entitled at our sole and absolute discretion to suspend, block or terminate any Transaction(s) undertaken by you (if at all, already undertaken) whereby there will be no later than the first Takedown) subject to a declaration of covenants, conditions and restrictions (a “Declaration”) for the homeowners association governing the Property (an “Association”). If recorded after Owner’s acquisition refunds of the Property, the Declaration shall be executed by Builder as Declarant and joined in and consented Transaction amounts or any applicable fees being refunded to by Owner as the owner of the Homesitesyou, and if applicable executed by the Association as owner of the Common Areas, in form and substance acceptable to Owner and Builder, each in its reasonable discretion. Owner shall cooperate with Builder in taking the necessary steps to form the Association for the eventual transfer of control of the Common Areas in compliance with the phasing schedules for the Property and the budget for the Association. Owner shall review and approve or disapprove any documents submitted (or resubmitted) by Builder related to the formation of the Association and/or the transfer of control of the Common Areas within ten (10) business days of Owner’s receipt, and if Owner is approving such documents it shall also promptly execute same (to the extent required by the applicable governmental authorities). Owner shall not unreasonably withhold, condition or delay its approval and/or execution of any documents so submitted, and it shall respond with specificity as to its reasons for disapproval if Owner fails to take Builder’s desired further and appropriate action with respect thereto. (b) As part of the material consideration to Owner in exchange for Owner’s grant of the Option to Builderwhich may include suspending, prior to the Option Termination Date Builder shall, at its expense, perform all of the obligations of the Declarant set forth in the Declaration (as may be amended or modified), including without limitation, making the payment of all fees, assessments, dues, charges and other sums allocable to the Property, if any, prior to the due date thereof and Builder shall otherwise comply with all provisions of the Declaration (as may be amended or modified) applicable to Builder, Owner or the Property. The obligations of Builder which accrue pursuant to the preceding sentence (or relate solely to the period) after the Option Termination Date shall terminate immediately following said Option Termination Date, except with respect to any Homesites which have been previously acquired by Builder hereunder. Other than as set forth in this Section 6.6, during the term of this Agreement with respect to any Homesite(s), neither party shall have the right to (i) record any covenants, conditions or restrictions against the Property, (ii) amend, terminate or de-annex the Homesites from, or agree to amend, terminate or de-annex the Homesites from, the Declaration, or (iii) record any other instrument, agreement, document or memorandum against the Propertyblocking and/or deactivating your Boost UnionPay Service, without the other’s prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed.any liability to you howsoever; and (c) If requested by Owneryou acknowledge and agree that in order for us to provide you with the services, upon benefits, offers, and privileges related to Boost UnionPay Service, to manage your Transactions and Account, to facilitate the expiration or earlier termination use of the Option prior feature and the processing of any transaction effected or to Builder’s acquisition be effected through the use of all Homesites on a Property (such Homesites which have not been acquired by Builder the Boost UnionPay Service, the sharing, transfer, retrieval, updating, and processing of your personal information as of such termination being referred to herein well as the “Unpurchased Homesites”creation of member profiles and user accounts and updating of personal details may occur between Boost, our parent company, ultimate shareholder, our related companies, subsidiaries, associates and/or affiliates, our licensees, assignees, proposed assignees, representatives, agents, vendors, service providers (including partner networks), Buildermerchants, at its expensestrategic partners, shall assign its commercial partners, third- party contractors, payment network operators, and any other parties engaged by us to enable or assist us in the provision of services to you or to exercise or enforce our rights (if any) hereunder and/or any other party whomsoever as Declarant with respect we may, to the Unpurchased Homesite by recordable instrument extent at our sole and otherwise absolute discretion deem fit and necessary, within and beyond Malaysia, as stated in accordance the Privacy Policy and you have consented to the same. (d) you have read, understood, and accepted the terms and conditions contained in this Agreement and in connection with the requirements activation for the Boost UnionPay Service and the use of the Declaration. If applicableBoost UnionPay Service, and that they are legally binding on you. (e) you will be solely responsible for your own personal payment settings, and after Boost shall not be held liable for any such assignment, Owner shall cooperate with Builder and execute errors or losses incurred or suffered by you as a result of any documents reasonably requested personal settings or information set or keyed in by Builder to facilitate Builder’s continued development and sale of you in your Boost Account in the Homesites acquired by Builder, including as needed to ensure Builder may annex the purchased Homesites and Common Areas into the Declaration. Additionally, even if Builder, or an affiliate or subsidiary of Parent or Builder, is not the named declarant or developer (or similar term) under the Declaration, nor otherwise has the ability to assign such rights or grant such consents, Builder shall nonetheless cooperate with and assist Owner in seeking such assignments, consents and waivers from the appropriate parties under the DeclarationBoost App.

DECLARATION. The signing of this application authorizes ▇▇▇▇▇▇▇ LLC (ahereinafter referred to as (CREDITOR), to perform the necessary credit investigation on the above company or individuals (hereinafter referred to as, (CUSTOMER). CUSTOMER authorizes the above references to release information necessary for CREDITOR to make an informed credit decision. (CREDITOR) Owner and Builder acknowledge and agree is authorized to make all inquiries deemed necessary to determine creditworthiness. The undersigned individual (CUSTOMER) who is either a principal, or the credit applicant, or a sole proprietorship of the credit applicant, recognizing that each Property is his or her individual credit history may be (if at all, no later than a factor in the first Takedown) subject to a declaration of covenants, conditions and restrictions (a “Declaration”) for the homeowners association governing the Property (an “Association”). If recorded after Owner’s acquisition evaluation of the Property, the Declaration shall be executed by Builder as Declarant and joined in and consented to by Owner as the owner credit history of the Homesitesapplicant, hereby concerts to and if applicable executed authorizes the use of a consumer credit report on the CUSTOMER by the Association as owner of the Common Areasabove named business credit grantor, in form and substance acceptable from time to Owner and Builder, each in its reasonable discretion. Owner shall cooperate with Builder in taking the necessary steps to form the Association for the eventual transfer of control of the Common Areas in compliance with the phasing schedules for the Property and the budget for the Association. Owner shall review and approve or disapprove any documents submitted (or resubmitted) by Builder related to the formation of the Association and/or the transfer of control of the Common Areas within ten (10) business days of Owner’s receipt, and if Owner is approving such documents it shall also promptly execute same (to the extent required by the applicable governmental authorities). Owner shall not unreasonably withhold, condition or delay its approval and/or execution of any documents so submitted, and it shall respond with specificity as to its reasons for disapproval if Owner fails to take Builder’s desired action with respect thereto. (b) As part of the material consideration to Owner in exchange for Owner’s grant of the Option to Builder, prior to the Option Termination Date Builder shall, at its expense, perform all of the obligations of the Declarant set forth in the Declaration (time as may be amended or modified)needed, including without limitation, making in the credit evaluation process. To secure payment and performance of all feesobligations, assessmentsCUSTOMER hereby grants CREDITOR a continuing security interest in all inventory, duesequipment, charges and other sums allocable goods manufactured by or distributed by CREDITOR, whenever sold, consigned, leased, rented or delivered, directly or indirectly, to or for the Propertybenefit of CUSTOMER by CREDITOR, if anywherever located, prior now owned and hereafter acquired including but not limited to all Products branded or labeled or sold by ▇▇▇▇▇▇▇ LLC, to include but not limited to Garage Doors, Tracks, Hardware, Electronic Openers; and all replacement parts, accessories and supplies including repossessions and returns; and all proceeds from the due date thereof sale, lease or rental thereof; and Builder shall otherwise comply with all provisions of the Declaration (as existing or subsequently arising accounts and accounts receivable and supporting obligations which may be amended or modified) applicable from time to Builder, Owner or the Property. The obligations of Builder which accrue pursuant to the preceding sentence (or relate solely to the period) after the Option Termination Date shall terminate immediately following said Option Termination Date, except with respect to any Homesites which have been previously acquired by Builder hereunder. Other than as set forth in this Section 6.6, time hereafter come into existence during the term of this Agreement with respect Security Agreement. CREDITOR 's security interest is explicitly limited to outstanding obligations between CREDITOR and CUSTOMER. CUSTOMER will maintain the Collateral in original condition but for the ordinary wear and tear, and will insure the Collateral against all expected risks. CUSTOMER will not subject the Collateral to any Homesite(s), neither party shall have the right to (i) record any covenants, conditions adverse encumbrance or restrictions against the Property, (ii) amend, terminate or de-annex the Homesites fromlien, or agree sale or other transfer other than as approved in writing by CREDITOR including through this Agreement. If CUSTOMER fails to amendtimely make any payment, terminate CREDITOR may repossess and remove any Product(s) from CUSTOMER with or dewithout notice. CUSTOMER will not locate the Collateral at any location other than as known to CREDITOR. CUSTOMER will promptly advise CREDITOR of any change of CUSTOMER’S name or business nature, location, and business openings and closings. The following constitute Customer defaults: Non-annex the Homesites frompayment in timely fashion of CUSTOMER’S indebtedness to CREDITOR, the Declarationbankruptcy, insolvency, or (iii) record assignment for the benefit of creditors; misrepresentation in respect of any other instrumentprovision of this or any Agreement between CREDITOR, agreement, document and CUSTOMER. In the event of default CREDITOR may declare all unpaid balances due and payable and or memorandum against may require CUSTOMER to assemble the Property, without the other’s prior written consent, which consent shall not be unreasonably withheld, conditioned collateral and make it available to allow CREDITOR to take possession or delayed. (c) If requested by Owner, upon the expiration or earlier termination dispose of the Option prior collateral. CUSTOMER authorizes CREDITOR to Builder’s acquisition of all Homesites on file a Property (such Homesites which have not been acquired by Builder as of such termination being referred financing statement describing the collateral. CUSTOMER agrees to herein as the “Unpurchased Homesites”), Builder, at its expense, shall assign its rights (if any) as Declarant with respect to the Unpurchased Homesite by recordable instrument and otherwise remit payment in accordance with CREDITORS invoice(s) terms. Should CUSTOMER default in any such payment, CUSTOMER agrees to pay late charges and interest at 1.5% per month (annual rate equals18%) on any amounts in default, and, at CREDITOR’S option, all amounts owed CREDITOR by CUSTOMER shall become immediately due and payable. In the requirements event any third party is utilized to enforce payment under this agreement, CUSTOMER further agrees to pay all expenses incurred by CREDITOR, in the collection of any obligation of the DeclarationCUSTOMER, including but not limited to, third party collection/commission fees, attorney’s fees, court costs, and all other costs and expenses incurred by CREDITOR in the collection of any obligation of CUSTOMER. If applicableThis agreement shall become effective when accepted by CUSTOMER. The Federal Equal Credit Opportunity Act prohibits creditors from discrimination against credit applicants on the basis of race, on and after any such assignmentcolor, Owner shall cooperate with Builder and execute any documents reasonably requested by Builder religion, national origin, sex, marital status, age (provided the applicant has the capacity to facilitate Builder’s continued development and sale enter into a binding contract); because all or part of the Homesites acquired by Builder, including as needed to ensure Builder may annex applicant’s income derived from any public assistance program; or because the purchased Homesites and Common Areas into the Declaration. Additionally, even if Builder, or an affiliate or subsidiary of Parent or Builder, is not the named declarant or developer (or similar term) applicant has in good faith exercised any right under the Declaration, nor otherwise has Consumer Credit Protection Act. The Federal agency that administers compliance with this law concerning this creditor is the ability to assign such rights or grant such consents, Builder shall nonetheless cooperate with and assist Owner in seeking such assignments, consents and waivers from the appropriate parties under the DeclarationFederal Trade Commission.

DECLARATION. (a) Owner and Builder acknowledge and agree 8.1 The Contractor hereby declares that each Property is it has not obtained or may be (if at allinduced the procurement of any Contract, no later than right, interest, privilege or other obligation or benefit from Company through any corrupt business practices. 8.2 Without limiting the first Takedown) subject to a declaration of covenants, conditions and restrictions (a “Declaration”) for the homeowners association governing the Property (an “Association”). If recorded after Owner’s acquisition generality of the Propertyforegoing, the Declaration Contractor represents and warrants that it has fully declared the brokerage, commission, fees etc. paid or payable to anyone and not given or agreed to give and shall be executed by Builder not give or agree to give to anyone within or outside Pakistan either directly or indirectly through any natural or juridical person, including its affiliate, agent, associate, broker, Contractor, director, promoter, shareholder, sponsor or subsidiary, any commission, gratification, bribe, finder’s fee or kickback, whether described as Declarant and joined in and consented to by Owner as the owner of the Homesitesconsultation fee or otherwise, and if applicable executed by the Association as owner of the Common Areas, in form and substance acceptable to Owner and Builder, each in its reasonable discretion. Owner shall cooperate with Builder in taking the necessary steps to form the Association for the eventual transfer of control of the Common Areas in compliance with the phasing schedules for object of obtaining or inducing the Property procurement of a contract, right, interest, privilege or other obligation or benefit in whatsoever form from the Company, except that which has been expressly declared pursuant hereto. 8.3 The Contractor certifies that it has made and the budget for the Association. Owner shall review make full disclosure of all agreements and approve arrangements with all persons in respect of or disapprove any documents submitted (or resubmitted) by Builder related to the formation transaction with the Company and has not taken any action or will not take any action to circumvent the above declaration, representation or warranty. 8.4 The Contractor accepts full responsibility and strict liability for making any false declaration, not making full disclosure, misrepresenting facts or taking any action likely to defeat the purpose of the Association and/or the transfer of control of the Common Areas within ten (10) business days of Owner’s receiptthis declaration, representation and if Owner is approving such documents it shall also promptly execute same (warranty. It agrees that any Contract, right, interest, privilege or other obligation or benefit obtained or procured as aforesaid shall, without prejudice to any other rights and remedies available to the extent required by the applicable governmental authorities). Owner shall not unreasonably withholdCompany under any law, condition Contract or delay its approval and/or execution of any documents so submitted, and it shall respond with specificity as to its reasons for disapproval if Owner fails to take Builder’s desired action with respect thereto. (b) As part of the material consideration to Owner in exchange for Owner’s grant of the Option to Builder, prior to the Option Termination Date Builder shall, at its expense, perform all of the obligations of the Declarant set forth in the Declaration (as may be amended or modified), including without limitation, making the payment of all fees, assessments, dues, charges and other sums allocable to the Property, if any, prior to the due date thereof and Builder shall otherwise comply with all provisions of the Declaration (as may be amended or modified) applicable to Builder, Owner or the Property. The obligations of Builder which accrue pursuant to the preceding sentence (or relate solely to the period) after the Option Termination Date shall terminate immediately following said Option Termination Date, except with respect to any Homesites which have been previously acquired by Builder hereunder. Other than as set forth in this Section 6.6, during the term of this Agreement with respect to any Homesite(s), neither party shall have the right to (i) record any covenants, conditions or restrictions against the Property, (ii) amend, terminate or de-annex the Homesites from, or agree to amend, terminate or de-annex the Homesites from, the Declaration, or (iii) record any other instrument, agreement, document or memorandum against be voidable at the Property, without option of the other’s prior written consent, which consent shall not be unreasonably withheld, conditioned or delayedCompany. (c) If requested 8.5 Notwithstanding any rights and remedies exercised by OwnerCompany in this regard, upon the expiration Contractor agrees to indemnify Company for any loss or earlier termination damage incurred by it on account of its corrupt business practices and further pay compensation to Company in an amount equivalent to ten times the Option prior to Buildersum of any commission, gratification, bribe, finder’s acquisition fee or kickback paid by the Contractor as aforesaid for the purpose of all Homesites on a Property (such Homesites which have not been acquired by Builder as obtaining or inducing the procurement of such termination being referred to herein as the “Unpurchased Homesites”)any Contract, Builderright, at its expenseinterest, shall assign its rights (if any) as Declarant with respect to the Unpurchased Homesite by recordable instrument and otherwise privilege or other obligation or benefit in accordance with the requirements of the Declaration. If applicable, on and after any such assignment, Owner shall cooperate with Builder and execute any documents reasonably requested by Builder to facilitate Builder’s continued development and sale of the Homesites acquired by Builder, including as needed to ensure Builder may annex the purchased Homesites and Common Areas into the Declaration. Additionally, even if Builder, or an affiliate or subsidiary of Parent or Builder, is not the named declarant or developer (or similar term) under the Declaration, nor otherwise has the ability to assign such rights or grant such consents, Builder shall nonetheless cooperate with and assist Owner in seeking such assignments, consents and waivers whatsoever form from the appropriate parties under the DeclarationCompany.

DECLARATION. At Closing, Seller shall record a document (the “Declaration”), subject to the reasonable review and approval of the Buyer, against all portions of the real property approximately depicted on Exhibit C attached hereto which are owned by Seller (or an affiliate) as of the Closing Date or which are acquired by Seller (or an affiliate) within eighteen (18) months after the Closing Date (the “Restriction Timeframe”) that benefits the Property and possibly other land to be developed on the property subject to the Underlying Contract, if acquired by Seller (the “Project”), which Declaration shall include, among other provisions, the following: (a) Owner and Builder acknowledge and agree that each Property is If Seller constructs a pylon or may be (if at all, no later than the first Takedown) subject to a declaration of covenants, conditions and restrictions (a “Declaration”) monument sign for the homeowners association governing Project, Buyer or its designee shall be prominently featured. Buyer shall be responsible for design, fabrication, installation, maintenance, repair, and replacement of Buyer’s panel on any such pylon or monument sign and its prorated share of the cost of constructing the sign itself. ▇▇▇▇▇ agrees that Seller may locate the sign on or nearby to the I-94 western boundary of the Project or Hwy. 610 northern boundary of the Property (an “Association”). If recorded after Owner’s acquisition of the Property, the Declaration shall be executed by Builder as Declarant and joined in and consented cooperation with Buyer to by Owner as the owner of the Homesites, and if applicable executed by the Association as owner of the Common Areas, in form and substance acceptable to Owner and Builder, each in its reasonable discretion. Owner shall cooperate with Builder in taking the necessary steps to form the Association for the eventual transfer of control of the Common Areas in compliance with the phasing schedules for the Property and the budget for the Association. Owner shall review and approve or disapprove any documents submitted (or resubmitted) by Builder related to the formation of the Association and/or the transfer of control of the Common Areas within ten (10) business days of Owner’s receipt, and if Owner is approving such documents it shall also promptly execute same (to the extent required by the applicable governmental authorities). Owner shall enable a location that will not unreasonably withhold, condition obstruct or delay its approval and/or execution impede ▇▇▇▇▇’s development of any documents so submitted, and it shall respond with specificity as to its reasons for disapproval if Owner fails to take Builder’s desired action with respect thereto. (b) As part of the material consideration to Owner in exchange for Owner’s grant of the Option to Builder, prior to the Option Termination Date Builder shall, at its expense, perform all of the obligations of the Declarant set forth in the Declaration (as may be amended or modified), including without limitation, making the payment of all fees, assessments, dues, charges and other sums allocable to the Property, if any, prior to the due date thereof and Builder shall otherwise comply with all provisions of the Declaration (as may be amended or modified) applicable to Builder, Owner or the Property. The obligations pylon or monument sign may be located on the Property or on other property owned or controlled by Seller. Seller shall be permitted to include a panel for one (1) other owner/occupant of Builder which accrue pursuant to the preceding sentence (Project on such pylon or relate solely to the period) after the Option Termination Date shall terminate immediately following said Option Termination Date, except with respect to any Homesites which have been previously acquired by Builder hereunder. Other than as set forth in this Section 6.6, during the term of this Agreement with respect to any Homesite(s), neither party monument sign provided that Buyer shall have the right top panel position on such sign. All signage is subject to (i) record any covenantspublic approvals. Seller has no obligation to construct such sign and may do so following Closing; provided in all cases Seller shall obtain Buyer’s approval as to the design, conditions or restrictions against the Property, (ii) amend, terminate or de-annex the Homesites from, or agree to amend, terminate or de-annex the Homesites from, the Declaration, or (iii) record any other instrument, agreement, document or memorandum against the Property, without the other’s prior written consentsize and location of such sign, which consent approval shall not be unreasonably withheld, conditioned or delayed. . No portion of the Project then-owned by Seller (cor an affiliate) as of the Closing Date or acquired by Seller (or an affiliate) during the Restriction Timeframe after the Closing Date may be used for any of the uses set forth on Exhibit D attached hereto (the “Restricted Uses”). If requested by OwnerBuyer does not convey the Property to a third-party for purposes of a health and fitness use (“Third-Party User”) within the Restriction Timeframe all such use restrictions shall expire. Upon the timely recording of a deed to a Third-Party User, upon such Restricted Uses shall be of full force and effect. Notwithstanding the Restriction Timeframe, so long as Buyer is in active negotiations with the Third-Party User to acquire the Property, Seller shall not unreasonably withhold its consent to Buyer’s request to extend the Restriction Timeframe for a period of up to six (6) months. In the event the Property is not sold to the Third-Party User on or before the date the Restriction Timeframe expires, Seller shall have the option to repurchase the Property from Seller for an amount equal to the Purchase Price, which option shall continue for six (6) months following the expiration or earlier termination of the Option prior to Builder’s acquisition of all Homesites on a Property (such Homesites which have not been acquired by Builder as of such termination being referred to herein as the “Unpurchased Homesites”), Builder, at its expense, shall assign its rights (if any) as Declarant with respect to the Unpurchased Homesite by recordable instrument and otherwise in accordance with the requirements of the DeclarationRestriction Timeframe. If applicableSeller exercises this option, on it shall close within 60 days after such exercise, and after any such assignment, Owner Buyer shall cooperate with Builder and execute any documents reasonably requested convey the Property back to Seller by Builder to facilitate Builder’s continued development and sale of the Homesites acquired by Builder, including as needed to ensure Builder may annex the purchased Homesites and Common Areas into the Declaration. Additionally, even if Builder, or an affiliate or subsidiary of Parent or Builder, is not the named declarant or developer (or similar term) under the Declaration, nor otherwise has the ability to assign such rights or grant such consents, Builder shall nonetheless cooperate with and assist Owner in seeking such assignments, consents and waivers from the appropriate parties under the Declarationlimited warranty deed.

DECLARATION. (a) Owner 1.1 For the purposes set forth herein, Declarant, for itself and Builder acknowledge its successors and agree assigns, hereby declares that each Property is the Units shall be owned, held, transferred, conveyed, sold, leased, rented, hypothecated, encumbered, used, occupied, improved, altered, and enjoyed subject to the covenants, conditions, restrictions, privileges, rights, and other provisions herein set forth, for the duration hereof, and all of which shall run with the Units and be binding upon all Owners, occupants, and other persons, including Non-Qualified Transferees, having or acquiring any right, title, or interest in or to the Units, and their respective heirs, personal representatives, successors, and assigns and shall be binding upon and inure to the benefit of HomesFund, the City, and its respective successors and assigns. 1.2 Declarant hereby restricts the acquisition or transfer of the Units to Qualified Buyers who fall within the qualifications established and published by HomesFund from time-to-time in the manner set forth in the Guidelines. In addition, Declarant agrees that this Agreement shall constitute a resale agreement setting forth the maximum resale price for which the Units may be sold (if at all, no later than the first Takedown) subject to a declaration of covenants, conditions and restrictions (a “Declaration”) for the homeowners association governing the Property (an “AssociationMaximum Resale Price”). If recorded after Owner’s acquisition , the amount of appreciation, and the terms and provisions controlling the resale of the PropertyUnits. Declarant restricts the Units against use and occupancy inconsistent with the terms of this Agreement. 1.3 By the acceptance of any deed conveying any Unit subject hereto, the Declaration grantee of such deed shall be executed by Builder as Declarant and joined in and consented to by Owner as the owner accept all of the Homesitesterms, conditions, limitations, restrictions, and if applicable executed by the Association as owner of the Common Areas, uses contained in form and substance acceptable to Owner and Builder, each in its reasonable discretionthis Agreement. Owner shall cooperate with Builder in taking the necessary steps to form the Association for the eventual transfer of control of the Common Areas in compliance with the phasing schedules for the Property and the budget for the Association. Owner shall review and approve or disapprove any documents submitted (or resubmitted) by Builder related to the formation of the Association and/or the transfer of control of the Common Areas within ten (10) business days of Owner’s receipt, and if Owner is approving such documents it shall also promptly execute same (to the extent required by the applicable governmental authorities). Owner shall not unreasonably withhold, condition or delay its approval and/or execution of any documents so submitted, and it shall respond with specificity as to its reasons for disapproval if Owner fails to take Builder’s desired action with respect thereto. (b) As part of the material consideration to Owner in exchange for Owner’s grant of the Option to BuilderIn addition, prior to the Option Termination Date Builder shalldelivery of a deed conveying any Unit to a grantee, at its expensesuch grantee shall execute a Memorandum of Acceptance in the form attached hereto as Exhibit B, perform all evidencing grantee’s acknowledgment and agreement to the terms, conditions, limitations, restrictions, and uses contained in this Agreement. 1.4 Notwithstanding any provision of this Agreement to the contrary, it is expressly agreed and acknowledged that the terms, conditions, and restrictions of the obligations of the Declarant set forth in the Declaration (as may be amended or modified), including without limitation, making the payment of all fees, assessments, dues, charges and other sums allocable to the Property, if any, prior to the due date thereof and Builder shall otherwise comply with all provisions of the Declaration (as may be amended or modified) applicable to Builder, Owner or the Property. The obligations of Builder which accrue pursuant to the preceding sentence (or relate solely to the period) after the Option Termination Date shall terminate immediately following said Option Termination Date, except with respect to any Homesites which have been previously acquired by Builder hereunder. Other than as set forth in this Section 6.6, during the term of this Agreement with respect to the use and occupancy of any Homesite(s)Unit thereof shall not apply to Declarant during the Declarant’s ownership thereof following the issuance of a Certificate of Occupancy for the Unit, neither party provided, however, that the Declarant shall have make no transfer of any Unit except to a Qualified Buyer or, where applicable, accompanied by payment of the right difference between the market resale price and the maximum resale price less an allowance for a 3% sales commission as described in section 3.7. 1.5 The parties agree that they intend to (ienter this agreement to assure that the Units are maintained over the long terms as affordable housing under the provisions of the Guidelines. The parties further acknowledge that the Guidelines provide in certain circumstances that a Unit may be sold in a manner that it will no longer be subject to the restrictions contained in this Agreement and the parties desire to assure that the Units subject to this Agreement are sold as Price Capped Units under the provisions of section 14.2 of the Fair Share Manual and Section C(1) of Appendix D to the Fair Share Manual regardless of whether the subsidy for the Unit is more than or less than 20% of the appraised value. No sale of any Unit may be made by an Owner in a manner other than to a Qualified Buyer for the Maximum Resale Price. 1.6 The parties agree that HomesFund may record a Mortgage as part of any covenants, conditions or restrictions against sale of a Unit to secure the Property, (ii) amend, terminate or de-annex performance of the Homesites from, or agree to amend, terminate or de-annex the Homesites from, the Declaration, or (iii) record any other instrument, agreement, document or memorandum against the Property, without the other’s prior written consentterms of this Agreement, which consent obligations shall not be unreasonably withheldconstitute a junior lien on the Unit, conditioned or delayed. (c) If requested by Owner, upon the expiration or earlier termination and to provide record notice of the Option prior to Builder’s acquisition of all Homesites on a Property (such Homesites which have not been acquired by Builder as of such termination being referred to herein as the “Unpurchased Homesites”), Builder, at its expense, shall assign its rights (if any) as Declarant with respect to the Unpurchased Homesite by recordable instrument and otherwise obligations contained in accordance with the requirements of the Declaration. If applicable, on and after any such assignment, Owner shall cooperate with Builder and execute any documents reasonably requested by Builder to facilitate Builder’s continued development and sale of the Homesites acquired by Builder, including as needed to ensure Builder may annex the purchased Homesites and Common Areas into the Declaration. Additionally, even if Builder, or an affiliate or subsidiary of Parent or Builder, is not the named declarant or developer (or similar term) under the Declaration, nor otherwise has the ability to assign such rights or grant such consents, Builder shall nonetheless cooperate with and assist Owner in seeking such assignments, consents and waivers from the appropriate parties under the Declarationthis Agreement.

DECLARATION. 1.1 For the purposes set forth herein, Declarant, for itself and its successors and assigns, hereby declares that the Lots shall be owned, held, transferred, conveyed, sold, leased, rented, hypothecated, encumbered, used, occupied, improved, altered and enjoyed subject to the covenants, conditions, restrictions, privileges, rights and other provisions herein set forth, for the duration hereof, and all of which shall run with the land and be binding upon all Owners, occupants and other persons, including Non-Qualified Transferees, having or acquiring any right, title or interest in or to a Lot, and their respective heirs, personal representatives, successors and assigns and shall be binding upon and inure to the benefit of GCHA and the County, and their respective successors and assigns. 1.2 Declarant hereby restricts the acquisition or transfer of the Lots to Qualified Buyers who fall within the qualifications established by the Plan, and established and adopted by the County from time to time in its Affordable Housing Requirements. In addition, Declarant agrees that this Agreement shall constitute a resale agreement setting forth the Maximum Resale Price (aas hereinafter defined) Owner and Builder acknowledge and agree that each Property is or for which the Lots may be (if at allsold, no later than the first Takedown) subject to a declaration amount of covenantsappreciation, conditions and restrictions (a “Declaration”) for the homeowners association governing terms and provisions controlling the Property (an “Association”). If recorded after Owner’s acquisition resale of the Property, the Declaration shall be executed by Builder as Lots. Declarant and joined in and consented to by Owner as the owner of the Homesites, and if applicable executed by the Association as owner of the Common Areas, in form and substance acceptable to Owner and Builder, each in its reasonable discretion. Owner shall cooperate with Builder in taking the necessary steps to form the Association for the eventual transfer of control of the Common Areas in compliance with the phasing schedules for restricts the Property and Lots against use and occupancy inconsistent with the budget for terms of this Agreement. 1.3 By the Association. Owner acceptance of any deed conveying any Lot subject hereto, the grantee of such deed shall review and approve or disapprove any documents submitted (or resubmitted) by Builder related to the formation accept all of the Association and/or the transfer of control of the Common Areas within ten (10) business days of Owner’s receiptterms, conditions, limitations, restrictions and if Owner is approving such documents it shall also promptly execute same (to the extent required by the applicable governmental authorities)uses contained in this Agreement. Owner shall not unreasonably withhold, condition or delay its approval and/or execution of any documents so submitted, and it shall respond with specificity as to its reasons for disapproval if Owner fails to take Builder’s desired action with respect thereto. (b) As part of the material consideration to Owner in exchange for Owner’s grant of the Option to BuilderIn addition, prior to the Option Termination Date Builder shalldelivery of a deed conveying any Lot to a grantee, at its expensesuch grantee shall execute a Memorandum of Acceptance in the form attached hereto as Exhibit A, perform all evidencing grantee's acknowledgment and agreement to the terms, conditions, limitations, restrictions, and uses contained in this Agreement 1.4 Notwithstanding any provision of this Agreement to the contrary, it is expressly agreed and acknowledged that the terms, conditions, and restrictions of the obligations of the Declarant set forth in the Declaration (as may be amended or modified), including without limitation, making the payment of all fees, assessments, dues, charges and other sums allocable to the Property, if any, prior to the due date thereof and Builder shall otherwise comply with all provisions of the Declaration (as may be amended or modified) applicable to Builder, Owner or the Property. The obligations of Builder which accrue pursuant to the preceding sentence (or relate solely to the period) after the Option Termination Date shall terminate immediately following said Option Termination Date, except with respect to any Homesites which have been previously acquired by Builder hereunder. Other than as set forth in this Section 6.6, during the term of this Agreement with respect to the use and occupancy of any Homesite(s), neither party shall have the right to (i) record any covenants, conditions or restrictions against the Property, (ii) amend, terminate or de-annex the Homesites from, or agree to amend, terminate or de-annex the Homesites from, the Declaration, or (iii) record any other instrument, agreement, document or memorandum against the Property, without the other’s prior written consent, which consent Lot shall not be unreasonably withheldapply to Declarant during its ownership thereof following the issuance of a Certificate of Occupancy for the Lot; provided, conditioned or delayedhowever, that the Declarant shall make no transfer of any Lot except to a Qualified Buyer. (c) If requested by Owner, upon the expiration or earlier termination of the Option prior to Builder’s acquisition of all Homesites on a Property (such Homesites which have not been acquired by Builder as of such termination being referred to herein as the “Unpurchased Homesites”), Builder, at its expense, shall assign its rights (if any) as Declarant with respect to the Unpurchased Homesite by recordable instrument and otherwise in accordance with the requirements of the Declaration. If applicable, on and after any such assignment, Owner shall cooperate with Builder and execute any documents reasonably requested by Builder to facilitate Builder’s continued development and sale of the Homesites acquired by Builder, including as needed to ensure Builder may annex the purchased Homesites and Common Areas into the Declaration. Additionally, even if Builder, or an affiliate or subsidiary of Parent or Builder, is not the named declarant or developer (or similar term) under the Declaration, nor otherwise has the ability to assign such rights or grant such consents, Builder shall nonetheless cooperate with and assist Owner in seeking such assignments, consents and waivers from the appropriate parties under the Declaration.

DECLARATION. (a) Owner Landlord covenants, represents and Builder acknowledge warrants to Tenant that: (i) the Declaration has not been modified, amended or terminated; (ii) the Declaration is currently in full force and agree that each Property is or may be effect; (if at alliii) to its actual knowledge as of the date hereof, no later than default under the first TakedownDeclaration exists thereunder beyond any applicable Notice and cure period; and (iv) the Declaration is, and shall remain, superior in lien to all mortgages and related liens affecting the Park and all other land which is encumbered by the Declaration. Landlord and Tenant each acknowledge that this Lease is made and shall continue to be subject and subordinate to the Declaration, subject to a declaration the provisions of this Section 45. Tenant shall comply with the terms and conditions of the Declaration to the extent the same affects the Leased Property (it being agreed that Tenant shall not be obligated to expend any sums in connection with such compliance, except with respect to Park assessments and charges applicable to the Leased Property which are included as part of Operating Expenses, and except for the cost of compliance with architectural and design regulations applicable to any Alterations). (b) Landlord shall, during the Term: (i) perform and observe all of the terms, covenants, provisions and conditions and restrictions (a “Declaration”) for the homeowners association governing the Property (an “Association”). If recorded after Owner’s acquisition of the PropertyDeclaration on Landlord’s part to be performed and observed; (ii) defend, indemnify and hold harmless Tenant from and against any and all claims, demands, causes of action, suits, damages, liabilities, and expenses of any nature arising out of or in connection with the enforcement of, or a claimed breach by, Landlord of any covenant, term, condition, or provision of the Declaration; and (iii) diligently enforce, at its sole expense, the covenants, agreements, and obligations of the Declaration shall be executed by Builder as Declarant and joined in and consented which inure to by Owner the benefit of Landlord as the owner of the Homesites, and if applicable executed by the Association as owner of the Common Areas, in form and substance acceptable to Owner and Builder, each in its reasonable discretion. Owner shall cooperate with Builder in taking the necessary steps to form the Association for the eventual transfer of control of the Common Areas in compliance with the phasing schedules for the Property and the budget for the Association. Owner shall review and approve or disapprove any documents submitted (or resubmitted) by Builder related to the formation of the Association and/or the transfer of control of the Common Areas within ten (10) business days of Owner’s receipt, and if Owner is approving such documents it shall also promptly execute same (to the extent required by the applicable governmental authorities). Owner shall not unreasonably withhold, condition or delay its approval and/or execution of any documents so submitted, and it shall respond with specificity as to its reasons for disapproval if Owner fails to take Builder’s desired action with respect thereto. (b) As part of the material consideration to Owner in exchange for Owner’s grant of the Option to Builder, prior to the Option Termination Date Builder shall, at its expense, perform all of the obligations of the Declarant set forth in the Declaration (as may be amended or modified), including without limitation, making the payment of all fees, assessments, dues, charges and other sums allocable to the Property, if any, prior to the due date thereof and Builder shall otherwise comply with all provisions of the Declaration (as may be amended or modified) applicable to Builder, Owner or the Property. The obligations of Builder which accrue pursuant to the preceding sentence (or relate solely to the period) after the Option Termination Date shall terminate immediately following said Option Termination Date, except with respect to any Homesites which have been previously acquired by Builder hereunder. Other than as set forth in this Section 6.6, during the term of this Agreement with respect to any Homesite(s), neither party shall have the right to (i) record any covenants, conditions or restrictions against the Property, (ii) amend, terminate or de-annex the Homesites from, or agree to amend, terminate or de-annex the Homesites from, the Declaration, or (iii) record any other instrument, agreement, document or memorandum against the Property, without the other’s prior written consent, which consent shall not be unreasonably withheld, conditioned or delayedBuilding. (c) If requested Whenever, pursuant to the Declaration, the consent or approval of Landlord shall be required by Owneror requested, upon and such consent or approval could diminish the expiration rights or earlier termination increase the obligations of Tenant thereunder or under this Lease, other than in a de minimus manner, or could adversely affect Tenant’s use or occupancy of the Option Leased Property, or the conduct of Tenant’s business therein, other than in a de minimus manner, such consent or approval shall not be granted without the prior consent of Tenant, which consent may be withheld in its sole and absolute discretion. (d) Landlord shall, immediately upon receipt, forward to Builder’s acquisition Tenant a copy of any and all Homesites on a Property (such Homesites which have not been acquired Notices and/or demands received by Builder as of such termination being referred to herein as the “Unpurchased Homesites”), Builder, at its expense, shall assign its rights (if any) as Declarant with respect Landlord under or pursuant to the Unpurchased Homesite by recordable instrument and otherwise in accordance with the requirements Declaration, which relate to, or could adversely affect, Tenant’s use or occupancy of the Declaration. If applicableLeased Property, on and after any the conduct of Tenant’s business therein, or Tenant’s rights pursuant to this Lease. (e) Landlord shall not amend, or modify the Declaration if such assignmentamendment or modification could diminish the rights or increase the obligations of Tenant thereunder or under this Lease, Owner shall cooperate with Builder and execute any documents reasonably requested by Builder to facilitate Builderother than in a de minimus manner, or could adversely affect Tenant’s continued development and sale use or occupancy of the Homesites acquired by BuilderLeased Property or the conduct of Tenant’s business therein, including as needed to ensure Builder may annex the purchased Homesites and Common Areas into other than in a de minimus manner, nor shall Landlord terminate the Declaration. Additionally, even if Builder, . (f) In the event Landlord defaults in the performance of any of its obligations under the Declaration or an affiliate or subsidiary fails to enforce the obligations of Parent or Builder, is not the named declarant or developer (or similar term) any other obligee under the Declaration, nor otherwise has and such default or failure to enforce could adversely affect Tenant’s rights thereunder or under this Lease, other than in a de minimus matter, Tenant’s use or occupancy of the ability Leased Property or the conduct of Tenant’s business therein, Tenant may, if permitted to assign such rights or grant such consents, Builder shall nonetheless cooperate with and assist Owner in seeking such assignments, consents and waivers from the appropriate parties do so under the Declaration, but shall not be obligated to, after thirty (30) days Notice (except in the event of emergency, in which case no Notice shall be required) cure any default by Landlord under the Declaration and/or enforce, in its own name, at Landlord’s expense, the obligations of any other obligee under the Declaration. Landlord shall, upon demand, reimburse Tenant for the costs incurred by Tenant in performing any of Landlord’s obligations under the Declaration or enforcing the obligations of any obligee under the Declaration, together with interest thereon at the Overdue Rate. (g) As between Landlord and Tenant, in the event of any conflict between the Declaration and this Lease, this Lease shall in all respects control.

DECLARATION. (a) Owner and Builder The parties acknowledge and agree that each the Property is or part of an overall larger development as described in the P.U.D. Purchaser's ability to use the Property for its intended use may be (if at all, no later than the first Takedown) contingent upon all owners of all property subject to the P.U.D. (herein, the "P.U.D. Owners"; all property subject to the P.U.D. is hereinafter referred to as the "P.U.D. Property") entering into a declaration Declaration of covenantsRestrictive Covenants, conditions Conditions, and restrictions Restrictions (a “the "Declaration”"), which shall set forth, among other things, (i) uses for the homeowners association governing which the Property and P.U.D. Property may be utilized, (an “Association”). If recorded after Owner’s acquisition ii) the maintenance and repair obligations of the PropertyP.U.D. Owners, (iii) the kinds and amounts of insurance to be carried by the P.U.D. Owners, and (iv) such other matters as the parties shall deem appropriate. Purchaser, Seller, and the P.U.D. Owners shall have until the end of the Inspection Period to agree upon the scope and form of the Declaration. Upon agreement as to the scope and form of the Declaration, the Declaration same shall be executed by Builder as Declarant attached and joined in and consented to by Owner as the owner of the Homesites, and if applicable incorporated into this Contract via a written amendment executed by the Association as owner parties. If the parties and P.U.D. Owners are unable to agree upon the form of the Common Areas, in form and substance acceptable to Owner and Builder, each in its reasonable discretion. Owner shall cooperate with Builder in taking the necessary steps to form the Association for the eventual transfer of control of the Common Areas in compliance with the phasing schedules for the Property and the budget for the Association. Owner shall review and approve or disapprove any documents submitted (or resubmitted) by Builder related to the formation of the Association and/or the transfer of control of the Common Areas within ten (10) business days of Owner’s receipt, and if Owner is approving such documents it shall also promptly execute same (to the extent required by the applicable governmental authorities). Owner shall not unreasonably withhold, condition or delay its approval and/or execution of any documents so submitted, and it shall respond with specificity as to its reasons for disapproval if Owner fails to take Builder’s desired action with respect thereto. (b) As part of the material consideration to Owner in exchange for Owner’s grant of the Option to Builder, Declaration prior to the Option Termination Date Builder shallend of the Inspection Period, then Purchaser may, at its expenseoption, perform all either (1) terminate this Contract by giving written notice thereof to Seller on or before the close of business on the expiration date of the obligations Inspection Period, whereupon this Contract shall terminate, Purchaser shall be entitled to the return of the Declarant set forth in the Declaration (as may be amended or modified)▇▇▇▇▇▇▇ Money, including without limitation, making the payment of all fees, assessments, dues, charges and other sums allocable to the Property, if any, prior to the due date thereof and Builder shall otherwise comply with all provisions of the Declaration (as may be amended or modified) applicable to Builder, Owner or the Property. The obligations of Builder which accrue pursuant to the preceding sentence (or relate solely to the period) after the Option Termination Date shall terminate immediately following said Option Termination Date, except with respect to any Homesites which have been previously acquired by Builder hereunder. Other than as set forth in this Section 6.6, during the term of this Agreement with respect to any Homesite(s), neither party shall have the right to (i) record any covenants, conditions or restrictions against the Propertyfurther obligation hereunder, (ii2) amend, terminate or de-annex proceed to Closing without the Homesites from, or agree to amend, terminate or de-annex the Homesites from, benefit of the Declaration, in which case Purchaser shall remit the entirety of the Purchase Price, adjusted as provided in this Contract and inclusive of Purchaser's closing costs, via wire transfer of immediately available funds to Seller at Closing, or (iii3) record any other instrument, agreement, document or memorandum against the Property, proceed to Closing without the other’s prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed. (c) If requested by Owner, upon the expiration or earlier termination benefit of the Option prior Declaration, with the Closing to Builder’s acquisition occur as otherwise provided in this Contract (i.e., with a cash down payment and the Note for the remainder of all Homesites on a Property the Purchase Price). In the event Purchaser elects to proceed pursuant to subpart (such Homesites which 2) of the preceding sentence, the parties shall have not been acquired by Builder as of such termination being referred no obligation to herein as the “Unpurchased Homesites”), Builder, at its expense, shall assign its rights (if any) as Declarant other with respect to the Unpurchased Homesite by recordable instrument Declaration, and otherwise in accordance with all references thereto shall be deemed stricken from this Contract. Purchaser and Seller shall negotiate the requirements form of the Declaration. If applicable, on and after any such assignment, Owner shall cooperate with Builder and execute any documents reasonably requested by Builder to facilitate Builder’s continued development and sale of the Homesites acquired by Builder, including as needed to ensure Builder may annex the purchased Homesites and Common Areas into the Declaration. Additionally, even if Builder, or an affiliate or subsidiary of Parent or Builder, is not the named declarant or developer (or similar term) under the Declaration, nor otherwise has the ability to assign such rights or grant such consents, Builder shall nonetheless cooperate with and assist Owner Declaration in seeking such assignments, consents and waivers from the appropriate parties under the Declarationgood faith.

DECLARATION. (a) Owner and Builder acknowledge and agree Landlord represents to Tenant that each Property is or may be (if at all, no later than the first Takedown) subject to a declaration of covenants, conditions and restrictions (a “Declaration”) for the homeowners association governing the Property (an “Association”). If recorded after Owner’s acquisition of the Property, the Declaration shall be executed by Builder is in full force and effect and has not been amended (except as Declarant and joined in and consented to by Owner as the owner of the Homesites, and if applicable executed by the Association as owner of the Common Areas, in form and substance acceptable to Owner and Builder, each in its reasonable discretion. Owner shall cooperate with Builder in taking the necessary steps to form the Association for the eventual transfer of control of the Common Areas in compliance with the phasing schedules for the Property and the budget for the Association. Owner shall review and approve or disapprove any documents submitted (or resubmitted) by Builder related to the formation of the Association and/or the transfer of control of the Common Areas within ten (10) business days of Owner’s receipt, and if Owner is approving such documents it shall also promptly execute same (to the extent required by the applicable governmental authorities). Owner shall not unreasonably withhold, condition or delay its approval and/or execution of any documents so submitted, and it shall respond with specificity as to its reasons for disapproval if Owner fails to take Builder’s desired action with respect thereto. (b) As part of the material consideration to Owner in exchange for Owner’s grant of the Option to Builder, prior to the Option Termination Date Builder shall, at its expense, perform all of the obligations of the Declarant set forth in the definition of Declaration) and, to the actual knowledge of Landlord, Landlord is not in default in the performance of its obligations under the Declaration. Landlord shall maintain the Declaration (in full force and effect throughout the term of the Lease. As one of the Lease Effectiveness Conditions, Landlord will obtain and furnish to Tenant an estoppel certificate executed by Parcel B Owner substantially in the form of Schedule 6.5 hereto or in such other form as may be amended is reasonably satisfactory to Tenant. On or modified)about the Commencement Date, including without limitationLandlord shall give Parcel B Owner a notice in the form of Exhibit F hereto, making designating Tenant as a “Parcel A Parking Tenant,” as defined in the Declaration, with respect to 105 parking spaces or such smaller number of parking spaces which Tenant has indicated by written notice to Landlord that Tenant desires to use, and designating Tenant as a “Parcel A Designated Tenant,” as defined in the Declaration. Landlord shall duly and punctually pay and perform Landlord’s obligations under the Declaration, subject to the payment and performance of all fees, assessments, dues, charges and other sums allocable Tenant’s obligations with respect to the Propertysame, if anyas necessary to preserve the rights of the Project and occupants thereof under the Declaration. Other than with the prior written consent of Tenant, prior Landlord will not agree to the due date thereof and Builder shall otherwise comply with all provisions any amendment of the Declaration or take any action, or grant any consent, under the Declaration (including the promulgation of rules and regulations pursuant to Section 4.5 of the Declaration) (other than actions that Landlord is obligated to undertake as may be amended the Parcel B Owner such as payments of costs due under the Declaration), if such amendment, consent or modified) applicable to Builder, Owner action would have an adverse effect on the rights or the Property. The obligations of Builder which accrue pursuant to Tenant under this Lease (including any action that would increase Operating Costs or impact the preceding sentence (cost of parking thereunder). To the extent that Landlord’s consent or relate solely to approval under the period) after the Option Termination Date shall terminate immediately following said Option Termination Date, except with respect to any Homesites which have been previously acquired by Builder hereunder. Other than as set forth in this Section 6.6, during the term of this Agreement with respect to any Homesite(s), neither party shall have the right to (i) record any covenants, conditions or restrictions against the Property, (ii) amend, terminate or de-annex the Homesites from, or agree to amend, terminate or de-annex the Homesites from, the Declaration, or (iii) record any other instrument, agreement, document or memorandum against the Property, without the other’s prior written consent, which consent shall Declaration may not be unreasonably withheld, conditioned or delayed. (c) If requested by Owner, upon delayed under the expiration or earlier termination express terms of the Option prior Declaration, Tenant agrees that the same standard applies to Builder’s acquisition of all Homesites on a Property (such Homesites which have not been acquired by Builder as of such termination being referred to herein as the “Unpurchased Homesites”), Builder, at its expense, shall assign its rights (if any) as Declarant obligations with respect to consents under the Unpurchased Homesite by recordable instrument and otherwise immediately preceding sentence. Landlord shall timely enforce the terms of the Declaration against the Parcel B Owner in accordance the event that the Parcel B Owner is not in compliance with the requirements of the Declaration. If applicable, on and after any such assignment, Any amounts paid by the Parcel B Owner shall cooperate with Builder and execute any documents reasonably requested by Builder pursuant to facilitate Builder’s continued development and sale Section 12.2.2 of the Homesites acquired Declaration shall be paid by Builder, including as needed Landlord to ensure Builder may annex the purchased Homesites and Common Areas into the Declaration. Additionally, even if Builder, or an affiliate or subsidiary of Parent or Builder, is not the named declarant or developer (or similar term) under the Declaration, nor otherwise has the ability to assign such rights or grant such consents, Builder shall nonetheless cooperate with and assist Owner in seeking such assignments, consents and waivers from the appropriate parties under the DeclarationTenant upon receipt.

DECLARATION. (a) Owner Upon its issuance of a Declaration, the Bank shall have the right to immediately commence proceedings to foreclose upon the Chattel Mortgage, and Builder acknowledge and agree that each Property is or such foreclosure may be (if carried out, at all, no later than the first Takedown) subject to a declaration of covenants, conditions and restrictions (a “Declaration”) for the homeowners association governing the Property (an “Association”). If recorded after Owner’s acquisition option of the PropertyBank, the Declaration shall be executed by Builder either extra-judicially under Act No. 1508, as Declarant and joined in and consented to by Owner as the owner of the Homesitesamended, and if applicable executed by the Association as owner of the Common Areas, in form and substance acceptable to Owner and Builder, each in its reasonable discretion. Owner shall cooperate with Builder in taking the necessary steps to form the Association for the eventual transfer of control of the Common Areas in compliance with the phasing schedules for the Property and the budget for the Association. Owner shall review and approve or disapprove any documents submitted (or resubmitted) by Builder related to the formation of the Association and/or the transfer of control of the Common Areas within ten (10) business days of Owner’s receipt, and if Owner is approving such documents it shall also promptly execute same (to the extent required by the applicable governmental authorities). Owner shall not unreasonably withhold, condition or delay its approval and/or execution of any documents so submitted, and it shall respond with specificity as to its reasons for disapproval if Owner fails to take Builder’s desired action with respect theretojudicially. (b) As part Promptly upon receipt of notification that foreclosure proceedings have been commenced by the material consideration to Owner in exchange for Owner’s grant Bank, the Company shall turn over possession of the Option to Builder, prior all of its Mortgaged Assets being foreclosed upon to the Option Termination Date Builder Bank or to another party designated by the Bank, as the Bank shall direct; provided, however, that the Company shall, at its own expense, perform all deliver possession of the obligations Chattel owned by it to the Bank or as it may direct, at the place designated by the Bank or its duly authorized representatives, in each case in its or their reasonable discretion; and provided further, that if the Company shall fail to turn over possession of any of the Declarant set forth Mortgaged Assets as required in this Part B, the Declaration (as Bank shall be entitled and authorized to repossess the same wherever they may be amended or modified)located by whichever means the Bank shall determine and to enter for that purpose any premises where any such Mortgaged Assets may be located and transport them, including without limitationat the expense of the Company, making the payment of all fees, assessments, dues, charges and other sums allocable to the Property, if any, prior to place otherwise determined by the due date thereof and Builder shall otherwise comply with all provisions of the Declaration (as may be amended or modified) applicable to Builder, Owner or the Property. The obligations of Builder which accrue pursuant to the preceding sentence (or relate solely to the period) after the Option Termination Date shall terminate immediately following said Option Termination Date, except with respect to any Homesites which have been previously acquired by Builder hereunder. Other than as set forth in this Section 6.6, during the term of this Agreement with respect to any Homesite(s), neither party shall have the right to (i) record any covenants, conditions or restrictions against the Property, (ii) amend, terminate or de-annex the Homesites from, or agree to amend, terminate or de-annex the Homesites from, the Declaration, or (iii) record any other instrument, agreement, document or memorandum against the Property, without the other’s prior written consent, which consent shall not be unreasonably withheld, conditioned or delayedBank for turning over possession thereof. (c) If requested by OwnerThe Company agrees that neither it nor anyone claiming through or under it, upon will set up, claim or seek to take advantage of, any appraisement, valuation, stay, extension, period, redemption or any other benefit under any Applicable Law in any locality where any property subject to the expiration Lien hereof may be situated, in order to prevent, hinder or earlier termination delay the enforcement or foreclosure of the Option prior to Builder’s acquisition of all Homesites on a Property (such Homesites which have not been acquired by Builder as of such termination being referred to herein as Chattel Mortgage, or the “Unpurchased Homesites”), Builder, at its expense, shall assign its rights (if any) as Declarant with respect to the Unpurchased Homesite by recordable instrument and otherwise in accordance with the requirements of the Declaration. If applicable, on and after any such assignment, Owner shall cooperate with Builder and execute any documents reasonably requested by Builder to facilitate Builder’s continued development and absolute sale of the Homesites acquired by Builder, including as needed to ensure Builder may annex the purchased Homesites and Common Areas into the Declaration. Additionally, even if BuilderMortgaged Assets or any part thereof, or an affiliate the final and absolute transfer of possession thereof, immediately after such sale to the purchasers of any such Mortgaged Assets; and the Company for itself and all who may at any time claim through or subsidiary under it, hereby waives the benefit of Parent all such Applicable Laws. (d) In the event that the Chattel Mortgage shall be foreclosed, whether judicially or Builderextrajudicially, any sheriff or notary public conducting the sale at public auction, or the Bank where a direct sale is not permitted by Applicable Law, shall, at the named declarant option of the Bank, sell the Mortgaged Assets individually, in groups or developer (or similar term) under the Declaration, nor otherwise has the ability to assign such rights or grant such consents, Builder shall nonetheless cooperate with and assist Owner in seeking such assignments, consents and waivers from the appropriate parties under the Declarationas a whole lot.

DECLARATION. (a) Owner and Builder acknowledge and Mortgagor shall not enter into, authorize, approve or agree that each Property is to any termination, amendment or may be (if at all, no later than the first Takedown) subject to a declaration of covenants, conditions and restrictions (a “Declaration”) for the homeowners association governing the Property (an “Association”). If recorded after Owner’s acquisition modification of the PropertyDeclaration or waive any material term therein, without in each case the Declaration shall be executed by Builder as Declarant and joined in and consented to by Owner as the owner prior written approval of the Homesites, and if applicable executed by the Association as owner of the Common Areas, in form and substance acceptable to Owner and Builder, each Mortgagee in its sole but reasonable discretion. Owner shall cooperate with Builder in taking the necessary steps to form the Association for the eventual transfer of control of the Common Areas in compliance with the phasing schedules for the Property and the budget for the Association. Owner shall review and approve or disapprove any documents submitted (or resubmitted) by Builder related to the formation of the Association and/or the transfer of control of the Common Areas within ten (10) business days of Owner’s receipt, and if Owner is approving such documents it shall also promptly execute same (to the extent required by the applicable governmental authorities). Owner shall not unreasonably withhold, condition or delay its approval and/or execution of any documents so submitted, and it shall respond with specificity as to its reasons for disapproval if Owner fails to take Builder’s desired action with respect thereto. (b) As Mortgagor absolutely, presently and unconditionally grants, assigns and transfers to Mortgagee all of Mortgagor’s right, title, interest and estate in, to and under the Declaration; provided that Mortgagee acknowledges and agrees that Mortgagor shall have a revocable license, until revoked at the option of Mortgagee at any time following and during the continuance of an Event of Default, to act as the owner thereunder subject to the other provisions of this Mortgage. (c) To the best of Mortgagor’s knowledge, there are no defaults by Mortgagor under the Declaration and, to the knowledge of Mortgagor, there are no defaults by any other parties under the Declaration, and the Declaration is in full force and effect in accordance with its terms, without modifications or amendments. (d) Mortgagor shall (i) perform all of its material covenants, obligations and responsibilities under the Declaration as and when required thereunder and will not suffer, cause or permit any default on its part to exist thereunder, and (ii) promptly upon receipt, provide Mortgagee with copies of all written notices (including notices of default) received under the Declaration and of any other written notices (including notices of default) given by Mortgagor under the Declaration, except for notices given or received by Mortgagor in the ordinary course of Mortgagor’s business that are administrative in nature and do not materially relate to Mortgagor’s obligations under this Mortgage or the other Loan Instruments or affect in a material respect the performance of the material consideration to Owner in exchange for Owner’s grant terms of the Option to Builder, prior to the Option Termination Date Builder shall, at its expense, perform all of the obligations of the Declarant set forth in the Declaration Declaration. (as may be amended or modified), including without limitation, making the payment of all fees, assessments, dues, charges and other sums allocable to the Property, if any, prior to the due date thereof and Builder shall otherwise comply with all provisions of the Declaration (as may be amended or modifiede) applicable to Builder, Owner or the Property. The obligations of Builder which accrue pursuant to the preceding sentence (or relate solely to the period) after the Option Termination Date shall terminate immediately following said Option Termination Date, except with respect to any Homesites which have been previously acquired by Builder hereunder. Other than as set forth in this Section 6.6, during the term of this Agreement with respect to any Homesite(s), neither party Mortgagee shall have the right to institute, maintain and participate in any actions relating to the Declaration and take such actions, as it may deem appropriate in the good faith exercise of its discretion to preserve or protect the interest of Mortgagor or Mortgagee under the Declaration. (f) The only Common Facilities (as defined in the Declaration) are: (i) record any covenants, conditions or restrictions against a sanitary sewer force main which Mortgagor is solely responsible for maintaining and repairing (including the Propertycost and expense of such maintenance and repair), (ii) amend, terminate or de-annex landscaping islands located within Campus Drive which Mortgagor is solely responsible for maintaining (including its pro rata share of the Homesites from, or agree to amend, terminate or de-annex the Homesites fromcost and expense of such maintenance which is apportioned among Mortgagor, the Phase I Owner (as defined in the Declaration) and the Phase III Owner (as defined in the Declaration) (Mortgagor, or (iii) record any other instrument, agreement, document or memorandum against the Property, without the other’s prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed. (c) If requested by Owner, upon the expiration or earlier termination of the Option prior to Builder’s acquisition of all Homesites on a Property (such Homesites which have not been acquired by Builder as of such termination being Phase I Owner and Phase III Owner are collectively referred to herein as the “Unpurchased HomesitesProperty Owners”), Builder(iii) that portion of a detention basin located on the Phase III Property, at which the Phase III Owner is solely responsible for maintaining and repairing (including its expense, shall assign its rights (if any) as Declarant with respect to the Unpurchased Homesite by recordable instrument and otherwise in accordance with the requirements pro rata share of the Declaration. If applicablecost and expense of such maintenance and repair which is apportioned among the Property Owners), on and after any such assignment(iv) detention basin low flow channels, Owner shall cooperate with Builder out-falls or headwalls which Mortgagor is solely responsible for maintaining and execute any documents reasonably requested by Builder to facilitate Builder’s continued development and sale repairing (including its pro rata share of the Homesites acquired by Builder, including as needed to ensure Builder may annex cost and expense of such maintenance and repair which is apportioned among the purchased Homesites and Common Areas into the Declaration. Additionally, even if Builder, or an affiliate or subsidiary of Parent or Builder, is not the named declarant or developer (or similar term) under the Declaration, nor otherwise has the ability to assign such rights or grant such consents, Builder shall nonetheless cooperate with and assist Owner in seeking such assignments, consents and waivers from the appropriate parties under the DeclarationProperty Owners).

DECLARATION. On or before the expiration of the Study Period, both Parties shall have approved for execution, acknowledgment and delivery to Escrow Agent for recording at Closing immediately after the Deed a Tract Declaration for Lot 20, Algodón Medical Office Park binding on the Parties and their successors in title (a) Owner and Builder acknowledge and agree that each Property is or may be (if at all, no later than the first Takedown) subject to a declaration of covenants, conditions and restrictions (a “Declaration”) for the homeowners association governing providing, among other things: (a) that no portion of the Property (an “Association”). If recorded after Owner’s acquisition of the Property, the Declaration shall be executed by Builder as Declarant and joined in and consented to by Owner as the owner of the Homesites, and if applicable executed by the Association as owner of the Common Areas, in form and substance acceptable to Owner and Builder, each in its reasonable discretion. Owner shall cooperate with Builder in taking the necessary steps to form the Association for the eventual transfer of control of the Common Areas in compliance with the phasing schedules for the Property and the budget for the Association. Owner shall review and approve or disapprove any documents submitted (or resubmitted) by Builder related to the formation of the Association and/or the transfer of control of the Common Areas within ten (10) business days of Owner’s receipt, and if Owner is approving such documents it shall also promptly execute same (to the extent required by the applicable governmental authorities). Owner shall not unreasonably withhold, condition or delay its approval and/or execution of any documents so submitted, and it shall respond with specificity as to its reasons for disapproval if Owner fails to take Builder’s desired action with respect thereto. (b) As part of the material consideration to Owner in exchange for Owner’s grant of the Option to Builder, prior to the Option Termination Date Builder shall, at its expense, perform all of the obligations of the Declarant set forth in the Declaration (as may be amended or modified), including without limitation, making the payment of all fees, assessments, dues, charges and other sums allocable to the Property, if any, prior to the due date thereof and Builder shall otherwise comply with all provisions of the Declaration (as may be amended or modified) applicable to Builder, Owner or the Property. The obligations of Builder which accrue pursuant to the preceding sentence (or relate solely to the period) after the Option Termination Date shall terminate immediately following said Option Termination Date, except with respect to any Homesites which have been previously acquired by Builder hereunder. Other than as set forth in this Section 6.6, during the term of this Agreement with respect to any Homesite(s), neither party shall have the right to used (i) record in violation of any covenants, conditions prohibited or exclusive use restrictions against of the PropertyMaster Declaration or any tract declarations benefitting other Covered Property (as defined in the Master Declaration) that have been recorded as of the Closing Date, (ii) amendfor any purpose other than Buyer’s Intended Use for a period of 5 years after the Closing Date, terminate or de-annex the Homesites from, or agree to amend, terminate or de-annex the Homesites from, the Declaration, or and (iii) record to construct, install, operate or maintain any permanent or temporary digital or static billboards or other instrument, agreement, document outdoor signage or memorandum against media displays within the Property, without the other’s prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed. (c) If requested by Owner, upon the expiration or earlier termination boundaries of the Option prior Property that advertise, promote or draw attention to Builder’s acquisition goods, services or events that do not directly relate to the operation of all Homesites on a Property (such Homesites which have not been acquired by Builder as of such termination being referred to herein as the “Unpurchased Homesites”), Builder, at its expense, shall assign its rights businesses (if any) as Declarant with respect located within the boundaries of the Property or activities conducted within the boundaries of the Property by any occupant thereof; and (b) granting any access or utility easements that may reasonably be required by either Party, including a perpetual non-exclusive easement for ingress and egress to the Unpurchased Homesite by recordable instrument Billboard Site for the benefit of Seller and otherwise in accordance with its successors, assigns and permittees. If, despite their good faith efforts, the requirements Parties do not agree upon a form of the Declaration. If applicable, Declaration on and after any such assignment, Owner shall cooperate with Builder and execute any documents reasonably requested by Builder to facilitate Builder’s continued development and sale or before the expiration of the Homesites acquired Study Period, then this Agreement shall be deemed canceled automatically upon the expiration of the Study Period, whereupon the entire Deposit shall be immediately returned to Buyer without the necessity of any further documentation and, except as otherwise provided in this Agreement, neither Party shall have any further obligation under this Agreement. This condition may not be waived, except by Builder, including as needed written agreement signed by both Parties. Seller shall prepare and deliver the initial draft of the Declaration to ensure Builder may annex the purchased Homesites and Common Areas into the Declaration. Additionally, even if Builder, or an affiliate or subsidiary Buyer within 60 Days following Opening of Parent or Builder, is not the named declarant or developer (or similar term) under the Declaration, nor otherwise has the ability to assign such rights or grant such consents, Builder shall nonetheless cooperate with and assist Owner in seeking such assignments, consents and waivers from the appropriate parties under the DeclarationEscrow.

DECLARATION. This section shall be subject to the terms of the First Loan Documents. (a) Borrower shall not, and shall cause Property Owner and Builder acknowledge and not to, enter into, authorize, approve or agree that each Property is to any termination, amendment or may be (if at all, no later than the first Takedown) subject to a declaration of covenants, conditions and restrictions (a “Declaration”) for the homeowners association governing the Property (an “Association”). If recorded after Owner’s acquisition modification of the PropertyDeclaration or waive any material term therein, without in each case the Declaration shall be executed by Builder as Declarant and joined in and consented to by Owner as the owner prior written approval of the Homesites, and if applicable executed by the Association as owner of the Common Areas, in form and substance acceptable to Owner and Builder, each Lender in its sole but reasonable discretion. Owner shall cooperate with Builder in taking the necessary steps to form the Association for the eventual transfer of control of the Common Areas in compliance with the phasing schedules for the Property and the budget for the Association. Owner shall review and approve or disapprove any documents submitted (or resubmitted) by Builder related to the formation of the Association and/or the transfer of control of the Common Areas within ten (10) business days of Owner’s receipt, and if Owner is approving such documents it shall also promptly execute same (to the extent required by the applicable governmental authorities). Owner shall not unreasonably withhold, condition or delay its approval and/or execution of any documents so submitted, and it shall respond with specificity as to its reasons for disapproval if Owner fails to take Builder’s desired action with respect thereto. (b) As To the best of Borrower’s knowledge, there are no defaults by Borrower or Property Owner under the Declaration and, to the knowledge of Borrower, there are no defaults by any other parties under the Declaration, and the Declaration is in full force and effect in accordance with its terms, without modifications or amendments. (c) Borrower shall, and shall cause Property Owner to, (i) perform all material covenants, obligations and responsibilities under the Declaration as and when required thereunder and will not suffer, cause or permit any default on its part to exist thereunder, and (ii) promptly upon receipt, provide Lender with copies of all written notices (including notices of default) received under the Declaration and of any other written notices (including notices of default) given by Borrower or Property Owner under the Declaration, except for notices given or received by Borrower or Property Owner in the ordinary course of Borrower’s or Property Owner’s business that are administrative in nature and do not materially relate to Borrower or Property Owner’s obligations under this Agreement or the other Loan Documents or affect in a material respect the performance of the material consideration to Owner in exchange for Owner’s grant terms of the Option to Builder, prior to the Option Termination Date Builder shall, at its expense, perform all of the obligations of the Declarant set forth in the Declaration Declaration. (as may be amended or modified), including without limitation, making the payment of all fees, assessments, dues, charges and other sums allocable to the Property, if any, prior to the due date thereof and Builder shall otherwise comply with all provisions of the Declaration (as may be amended or modifiedd) applicable to Builder, Owner or the Property. The obligations of Builder which accrue pursuant to the preceding sentence (or relate solely to the period) after the Option Termination Date shall terminate immediately following said Option Termination Date, except with respect to any Homesites which have been previously acquired by Builder hereunder. Other than as set forth in this Section 6.6, during the term of this Agreement with respect to any Homesite(s), neither party Lender shall have the right to institute, maintain and participate in any actions relating to the Declaration and take such actions as it may deem appropriate in the good faith exercise of its discretion to preserve or protect the interest of Borrower, Property Owner or Lender under the Declaration. (e) The only Common Facilities (as defined in the Declaration) are (i) record any covenants, conditions or restrictions against a sanitary sewer force main which Property Owner is solely responsible for maintaining and repairing (including the Propertycost and expense of such maintenance and repair), (ii) amend, terminate or de-annex landscaping islands located within Campus Drive which Property Owner is solely responsible for maintaining (including its pro rata share of the Homesites from, or agree to amend, terminate or de-annex the Homesites fromcost and expense of such maintenance which is apportioned among Property Owner, the owner of the Phase I Property (as defined in the Declaration) (the “Phase I Owner”), or and the owner of the Phase III Property (as defined in the Declaration) (the Phase III Owner”; together with Property Owner and the Phase I Owner, the “Real Property Owners”)), (iii) record any other instrument, agreement, document or memorandum against that portion of a detention basin located on the Phase III Property, without which the other’s prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed. Phase III owner is solely responsible for maintaining and repairing (c) If requested by Owner, upon the expiration or earlier termination including its pro rata share of the Option prior to Builder’s acquisition of all Homesites on a Property (such Homesites which have not been acquired by Builder as cost and expense of such termination being referred to herein as maintenance and repair which is apportioned among the “Unpurchased Homesites”Real Property Owners), Builderand (iv) detention basin low flow channels, at out-falls or headwalls which Property Owner is solely responsible for maintaining and repairing (including its expense, shall assign its rights (if any) as Declarant with respect to the Unpurchased Homesite by recordable instrument and otherwise in accordance with the requirements pro rata share of the Declaration. If applicable, on cost and after any expense of such assignment, Owner shall cooperate with Builder maintenance and execute any documents reasonably requested by Builder to facilitate Builder’s continued development and sale of repair which is apportioned among the Homesites acquired by Builder, including as needed to ensure Builder may annex the purchased Homesites and Common Areas into the Declaration. Additionally, even if Builder, or an affiliate or subsidiary of Parent or Builder, is not the named declarant or developer (or similar term) under the Declaration, nor otherwise has the ability to assign such rights or grant such consents, Builder shall nonetheless cooperate with and assist Owner in seeking such assignments, consents and waivers from the appropriate parties under the DeclarationReal Property Owners).

DECLARATION. (a) Owner 1.1 For the purposes set forth herein, Declarant, for itself and Builder acknowledge its successors and agree assigns, hereby declares that each Property is the Units shall be owned, held, transferred, conveyed, sold, leased, hypothecated, encumbered, used, occupied, improved, altered, and enjoyed subject to the covenants, conditions, restrictions, privileges, rights, and other provisions herein set forth, for the duration hereof, and all of which shall run with the Units and be binding upon all Owners, occupants, and other persons, including Non-Qualified Transferees, having or acquiring any right, title, or interest in or to the Units, and their respective heirs, personal representatives, successors, and assigns and shall be binding upon and inure to the benefit of the Declarant and its respective successors and assigns. 1.2 Declarant hereby restricts the acquisition or transfer of the Units to Qualified Buyers who fall within the qualifications established by this Agreement. In addition, Declarant agrees that this Agreement shall constitute a resale agreement setting forth the maximum resale price for which the Units may be sold (if at all, no later than the first Takedown) subject to a declaration of covenants, conditions and restrictions (a “Declaration”) for the homeowners association governing the Property (an “AssociationMaximum Resale Price”). If recorded after Owner’s acquisition , the amount of appreciation, and the terms and provisions controlling the resale of the PropertyUnits. Declarant restricts the Units against use and occupancy inconsistent with the terms of this Agreement. 1.3 By the acceptance of any deed conveying any Unit subject hereto, the Declaration shall be executed by Builder as Declarant and joined in and consented to by Owner as the owner of the HomesitesUnit shall accept all the terms, conditions, limitations, restrictions, and if applicable executed by the Association as owner of the Common Areas, uses contained in form and substance acceptable to Owner and Builder, each in its reasonable discretionthis Agreement. Owner Any deed conveying any Unit subject hereto shall cooperate with Builder in taking the necessary steps to form the Association for the eventual transfer of control of the Common Areas in compliance with the phasing schedules for the Property and the budget for the Association. Owner shall review and approve or disapprove any documents submitted (or resubmitted) by Builder related to the formation of the Association and/or contain language making the transfer of control of any rights to the Common Areas within ten (10) business days of Owner’s receiptUnits subject to the terms, conditions, limitations, restrictions, and if Owner is approving such documents it shall also promptly execute same (to the extent required by the applicable governmental authorities)uses contained in this Agreement. Owner shall not unreasonably withhold, condition or delay its approval and/or execution of any documents so submitted, and it shall respond with specificity as to its reasons for disapproval if Owner fails to take Builder’s desired action with respect thereto. (b) As part of the material consideration to Owner in exchange for Owner’s grant of the Option to BuilderIn addition, prior to the Option Termination Date Builder shalldelivery of a deed conveying any Unit to an Owner, such Owner shall execute a Memorandum of Acceptance at its expenseclosing in the form attached hereto as Exhibit B, perform all evidencing Owner’s acknowledgment and agreement to the terms, conditions, limitations, restrictions, and uses contained in this Agreement. 1.4 Notwithstanding any provision of this Agreement to the contrary, it is expressly agreed and acknowledged that the terms, conditions, and restrictions of the obligations of the Declarant set forth in the Declaration (as may be amended or modified), including without limitation, making the payment of all fees, assessments, dues, charges and other sums allocable to the Property, if any, prior to the due date thereof and Builder shall otherwise comply with all provisions of the Declaration (as may be amended or modified) applicable to Builder, Owner or the Property. The obligations of Builder which accrue pursuant to the preceding sentence (or relate solely to the period) after the Option Termination Date shall terminate immediately following said Option Termination Date, except Agreement with respect to the use and occupancy of any Homesites which Unit thereof shall not apply to Declarant during the Declarant’s ownership thereof following the issuance of a Certificate of Occupancy for the Unit, provided, however, that the Declarant shall make no transfer of any Unit except to a Qualified Buyer. 1.5 The Parties agree that they intend to enter this Agreement to assure that the Units are maintained long term as affordable housing under the provisions of this Agreement. The Parties agree that they are sophisticated parties, have been previously acquired by Builder hereunder. Other than as sought and received legal advice regarding terms and obligations set forth in this Section 6.6Agreement, during and this Agreement is being entered into for residential occupancy purposes. No sale of any Unit may be made by an Owner in a manner other than to a Qualified Buyer for the term Maximum Resale Price. 1.6 The Parties agree that the Declarant or its Designee, may record any document it deems necessary as part of any sale of a Unit to secure the performance of the terms of this Agreement and to provide record notice of the obligations contained in this Agreement. 1.7 The Parties agree that reasonable accommodations shall be made to ensure that those with respect disabilities have access to any Homesite(spurchasing the Units, and that nothing in this Agreement shall obstruct the access of the Unit by disabled individuals or households. Additionally, nothing in this Agreement shall violate the Fair Housing Act, Fair Lending Laws, Section 504, or the Americans with Disabilities Act (ADA). 1.8 This Agreement shall remain in effect for 30 years after the Effective Date (the “Term”), neither party shall have unless terminated earlier by any of the right to following methods: (i) record any covenants, conditions recordation of a new Declaration that replaces this Agreement; or restrictions against the Property, (ii) amend, terminate or de-annex foreclosure by an Institutional Lender that holds the Homesites from, or agree to amend, terminate or de-annex the Homesites from, the Declaration, or (iii) record any other instrument, agreement, document or memorandum against the Property, without the other’s prior written consent, which consent shall not be unreasonably withheld, conditioned or delayedFirst Deed of Trust. (c) If requested by Owner, upon the expiration or earlier termination of the Option prior to Builder’s acquisition of all Homesites on a Property (such Homesites which have not been acquired by Builder as of such termination being referred to herein as the “Unpurchased Homesites”), Builder, at its expense, shall assign its rights (if any) as Declarant with respect to the Unpurchased Homesite by recordable instrument and otherwise in accordance with the requirements of the Declaration. If applicable, on and after any such assignment, Owner shall cooperate with Builder and execute any documents reasonably requested by Builder to facilitate Builder’s continued development and sale of the Homesites acquired by Builder, including as needed to ensure Builder may annex the purchased Homesites and Common Areas into the Declaration. Additionally, even if Builder, or an affiliate or subsidiary of Parent or Builder, is not the named declarant or developer (or similar term) under the Declaration, nor otherwise has the ability to assign such rights or grant such consents, Builder shall nonetheless cooperate with and assist Owner in seeking such assignments, consents and waivers from the appropriate parties under the Declaration.