DECLARATION OF COVENANTS FOR
HOME INVESTMENT PARTNERSHIPS PROGRAM
THIS DECLARATION OF COVENANTS (“Declaration of Covenants”) is made and entered into as of by Staci Horner (“Homeowner”) for the benefit of the
EASTERN PANHANDLE HOME CONSORTIUM (Consisting of the City of Martinsburg and the Counties of Berkeley, Jefferson and Morgan and hereafter referred to as the
“Consortium”) and
HABITAT FOR HUMANITY OF THE EASTERN PANHANDLE,
INC ., a West Virginia not-for-profit corporation (“Habitat Affiliate”). The term “Homeowner” as used herein shall include such subsequent owners during the Affordability Period (as defined below) who are subject to this Declaration of Covenants.
WHEREAS , the Consortium applied for and received HOME Investment Partnerships
Program (“HOME”) funds from the United States Department of Housing and Urban
Development under Title II of the National Affordable Housing Act of 1990, Public Law 101-
625; and,
WHEREAS , the City of Martinsburg (“City”) serves as the lead agency for the
Consortium; and
WHEREAS , the Habitat Affiliate is designated a Community Housing Development
Organization (“CHDO”) in accordance with 24 CFR Part 92, the HOME Investment Partnerships
Program Final Rule, as amended, and
WHEREAS , the Habitat Affiliate used a portion of such HOME funds to acquire and construct a certain housing unit (the “Property”), located at , Morgan County,
West Virginia, and more particularly described on the attached Exhibit A ; and
WHEREAS , by deed dated the date hereof, Habitat Affiliate has granted and conveyed title to the Property to Homeowner in fee simple;
WHEREAS, as a result of the Habitat Affiliate’s receipt and use of HOME funds in connection with the Property, the Homeowner is receiving the benefit of HOME funds; and
WHEREAS , regulations for the HOME program require that certain affordability use restrictions be imposed upon the Property as a condition to the expenditure of HOME funds.
THEREFORE , it is hereby agreed by and between the parties hereto as follows:
1. For so long as the Homeowner owns the Property, it shall remain the Homeowner’s principal residence.
2. During the Affordability Period, as defined below, the Property is dedicated for use by a homeowner whose gross household income, as defined by the Department of Housing and Urban
Development (“HUD”) in 24 CFR 5.609, does not exceed eighty percent (80%) of the Area
Median Income of Morgan County, West Virginia (“AMI”) at the time such the homeowner initially occupies the Property. Such a homeowner shall be referred to herein as an “Eligible
Homeowner.” Any sale of the Property during the Affordability Period must be to an Eligible
Homeowner.
3. The affordability use restriction shall commence on the execution date of this Declaration of Covenants and continue to be in effect for a period of twenty (20) years after the date of initial occupancy (the “Affordability Period”), which number of years is based upon the amount of
HOME funds used to used to acquire and redevelop the Property, and shall continue without regard to any transfer of ownership of the Property by Homeowner or the term of any mortgage.
This affordability use restriction will terminate upon foreclosure or transfer in lieu of foreclosure, unless, before foreclosure, the Homeowner or any family member of the Homeowner obtains an ownership interest in the Property.
The Affordability Period shall commence on:
The Affordability Period shall end on:
4. The sales price of the Property upon any sale by the Homeowner during the Affordability
Period shall be a price which, at the time of sale, is affordable to an Eligible Homeowner.

5. The restrictions and requirements set forth in this Declaration of Covenants shall be covenants that run with the land and shall bind or benefit the Habitat Affiliate, the Homeowner, and the Consortium and their respective heirs, successors, successors-in-title, legal representatives and assigns for the Affordability Period.
6. The restrictions and requirements of this Declaration of Covenants shall be monitored by the Habitat Affiliate, subject to the audit and review of the City. In the event that the Habitat
Affiliate should fail to assure compliance with the restrictions and requirements of this
Agreement, the City shall have the right to do so.
7. The violation of any provision of this Declaration of Covenants by the Homeowner shall be a default under this Declaration of Covenants. Either the Habitat Affiliate or the City may give notice of such default to the Homeowner, addressed to the Property address stated in this
Declaration of Covenants. If the default is not corrected to the satisfaction of both the Habitat
Affiliate and the City within ninety (90) days, then, without further notice, either the Habitat
Affiliate or the City may avail itself of any remedy available at law or in equity in the event of such a default. T he Habitat Affiliate and the City’s remedies shall include the right to apply to any federal or state court for the specific performance of the covenants and agreements contained in this HOME Declaration of Covenants and/or for an injunction against any violation of such covenants and agreements and/or for such other relief as may be appropriate, since the parties hereto recognize that the injury arising from any default under this Agreement would be irreparable and the amount of damage difficult to ascertain. The Habitat Affiliate and the City’s remedies shall also include the right to declare a default of the Loan and to require repayment of the portion of the Loan used to acquire and redevelop the Property.
8. The invalidity of any clause, part or provision of this Declaration of Covenants shall not affect the validity of the remaining portions of this Declaration of Covenants.
9. This Declaration of Covenants may not be altered, modified, or amended except in writing signed by the Homeowner and an authorized agent or representative of the Habitat
Affiliate and the City and recorded in the real property records of Morgan County, West
Virginia.
10. This Declaration of Covenants will be governed by and construed in accordance with the laws of West Virginia.
11. The restrictions set forth in this Declaration of Covenants shall not apply to a sale of the
Property by the Homeowner to the Habitat Affiliate; provided, however, that resale of the
Property by the Habitat Affiliate during the Affordability Period shall be to an Eligible
Homeowner.
IN WITNESS WHEREOF, the Homeowner has caused this Declaration of Covenants to be duly executed as of the day and year first above written by affixing his/her hand and seal, whose signature was duly witnessed and notarized.
HOMEOWNER: SIGNED, SEALED AND
DELIVERED IN THE
PRESENCE OF:
_____________________________(SEAL))
_____________________________
Unofficial Witness
_____________________________
Notary Public
My commission expires: ______________
_____________________________(SEAL)
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Exhibit A
INSERT LEGAL DESCRIPTION
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