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9392 <br />0043 <br />EXHIBIT B <br />The foregoing property is being conveyed pursuant to that certain resolution adopted by the <br />Cabarrus County Board of Commissioners and NCGS §153 A -378 and NCGS §160A -279. In <br />order to ensure that the public purpose of this conveyance is being met, the property is subject to <br />the following covenants and restrictions: <br />1. The property is to be used solely for the development of an affordable residential <br />community consisting only of single family housing. The term "affordable" shall be defined as <br />that amount in keeping with the purpose and mission of Habitat for Humanity Cabarrus County, <br />Inc. and Habitat for Humanity International, Inc. <br />2. No building shall be erected, altered, placed or permitted to remain on any developed lot <br />other than one (1) detached single - family dwelling. <br />3. No trailer, tent, shack, barn or other out building, except a private garage or an out <br />building not more than two hundred fifty (250) square feet in size, shall be erected or placed on <br />any lot covered by these covenants. No detached garage shall at any time be used for human <br />habitation, either temporarily or permanently. <br />4. Habitat for Humanity Cabarrus County, Inc., shall only convey the property or any <br />portion of the property to those individuals who have been admitted into and successfully <br />completed Habitat's home owner program or who have completed HUD's home owner training.. <br />The determination of who is admitted to the program and who has successfully completed the <br />program will be determined solely by habitat for Humanity Cabanas County, Inc. <br />5. Notwithstanding the foregoing paragraph, Habitat for Humanity Cabarrus County, Inc., <br />may convey unimproved lots to any other non- profit organization that provides for affordable <br />housing for the residents of Cabarrus County. However, the sale of any improved lot shall be <br />subject to the provisions of paragraph 4. <br />6. Notwithstanding paragraphs 4 and 5 of these restrictions, Habitat may sell up to 20 % of <br />the developed lots to for profit builders, so long as those deeds contain a restriction that the lots <br />must be resold to purchasers who have completed H`M's home owner training. <br />Attachment number 1 <br />