Draft_October 2025_West Orange_HEFSP_with Appendices

Inst. # 2023018959 - Page 3 of 6 Prepared by: Dean J. Donatelli, Esq. Deed Restriction DEED-RESTRICTED AFFORDABLE HOUSING PROPERTY | WITH RESTRICTIONS ON RESALE AND REFINANCING —— To Rental Property With Covenants Restricting Rentals, Conveyance and Improvements and d And Requiring Notice of Foreclosure and Bankruptcy deliveré f THIS DEED RESTRICTION (this “Deed”) entered into as of this” day of March, 2023, by and between the CGP&HB, LLC, ot its successor, acting on behalf of the Township of West Orange, with offices at 1249 South River Road, Suite 301, Cranbury, NJ 08512-3633 Administrative Agent"), and S55 Northfield LLC, a New Jersgy limited jability compeny, having offices at 204 Madison Avenue, Suite B, Morristown, N} 07960 {the “Opmer”) the developer of a 70- unit residential rental project, certain units of which shall be very low, lows or moderate-income rental uaits in accordance herewith (the “Project”. WITNESSETH Article 1. Consideration In consideration of benefits and/or right to develop received by the Owner from the Township of West Orange and/or its political subdivisions (the “Municipality”) regarding this rental Project, the Owner hereby agrees to abide by the covenants, terms and conditions set forth in this Deed Restriction, with respect to the Affordable Units more specifically described in Article 2 hereof {the “Property”). * Article? Description of Property. The Property consists of all of the land, and a portion of the improvements thereon wherein the Affordable Units are located, is located in the nsunicipality of West Orange Township, County of Essex, State of New Jersey, and described more specifically as Block No. 168, Lot Nos. 26 and 28 , and known by the street address: 555 Northfield Avenue, West Orange, NJ 07052, And, the affordable units subject to this Deed Restriction are more specifically designated as follows (cach an “Affordable” Unit”, and collectively, the “Affordable Units”) snd containing 2 total of eleven (11) bedrooms: Unitt 121 (2 bed plus den) Unit 207 (1 bed) Unith 221 (2 bed plus den) Uniti! 222 (2 bed) Unit 306 (2 bed) Unit 321 (2 bed) 3)13/2023