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