Draft_October 2025_West Orange_HEFSP_with Appendices

Inst. # 2023018959 - Page 4 of 6 Anicle 3, Affordable Housing Covenants The following covenants (the “Covenants”) shall run with the land with respect only to the Affordable Units for the period of time (the “Control Period”), determined separately with respect for each dwelling unit, commencing upon the earlier of the (a) date hereof or (6) the date on which the first certified household occupies the unit, and shall and expire as determined under the Uniform Controls, as defined below. In accordance with N.J.A.C. 5:80-26.11, each Affordable Unit shall remain subject to the requirements of this subchapter, the “Control Period”. Each Affordable Unit must remain subject to the requirements of this Deed Restriction pursuant to this subchapter for a period of at least 30 years; provided, however, that: 4, Units located in high-poverty census tracts shall remain subject to these affordability tequitements for a period of at least 10 years; and 2. Any unit that, prior to December 20, 2004, received subetantive certification from COAH, was part of a judgment of compliance from a court of competent jurisdiction ot became subject to a grant agreement or other contract with either the State or a political subdivision thereof, shall have its control period governed by said grant of substantive certification, judgment or grant or contract, “ ~ A Sale and use of the Property is governed by regulations known as the Uniform Housing Affordability Controls, which are found in New Jersey Administrative Code at Title 5, shapter 80, subchapter 26 (N.J.A.C. 5:80-26.1, ef seq, the “Uniform Controls”). B. The Affordable Units shal! be used‘solely for the purpose of providing rental dwelling units for very-low-income (making 30 percent or less of median income in the housing region, as defined in the New Jersey Fair Housing Act), persons in need of supportive and special needs bousing. While special needs housing units are exempt from income eligibility review by tha Administrative Agent, 20 commitment for any Affordable Unit shall be given or implied by IJSDD, its successors or assigns, without securing documentation that affirms the household’s income is at or below 30 pércent of median income in the housing region. Cc. No improvements may ‘be made to the Property that would affect the bedroom configuration of any of the Affordable Units, and any improvements to the

ércent of median income in the housing region. Cc. No improvements may ‘be made to the Property that would affect the bedroom configuration of any of the Affordable Units, and any improvements to the Affordable Units must be approved in advance and in writing by the Administrative Agent. D. The Owner shall notify the Administrative Agent and the Municipality of any foreclosure actions filed with respect to the Property within five (5) business days of service upon Owner, E. The Owner shall notify the Administrative Agent and the Municipality within three (3) business days of the filing of any petition for protection from creditors or reorganization filed by or on behalf of the Owner.