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b. To the extent permitted by law, Declarant will give preference in the rental <br /> of rental housing units in the Project which become vacant in the following order of <br /> priority (the "Orono Preference Requirement"): <br /> i. To persons who are residents or former residents of the City; <br /> ii. To persons who have a child who is a resident of the City; <br /> iii. Persons who have at any time been full time employees of the City <br /> or an agency or department of the City; and <br /> iv. Persons who are residents or former residence of the City of Long <br /> Lake. <br /> The Orono Preference Requirement will apply only if there is a waiting list for <br /> available housing units. /y Li eq F g u vtaul 7 <br /> Except for the Senior Housing Restriction and the Orono Preference Requirement <br /> Declarant will not discriminate upon the basis of race, color, creed, religion, ancestry, national <br /> origin or sex, affectional preference, disability, marital status or status with regard to public <br /> assistance, in the lease, or rental or in the use or occupancy of the Project. Any use of the Project <br /> not authorized by this Section will be subject to the prior written approval of the HRA, which it <br /> may deny in its absolute discretion. <br /> 4. Term. The restrictions and covenants of this Declaration will remain in effect <br /> beginning on the Effective Date, and ending on the earliest of (i) February 1, 2024; or (ii) <br /> termination of the Tax Increment Financing District No. 1-1 as described in the Development <br /> Agreement; or (iii) the loss or destruction of the Property caused by fire, windstorm, tornado, <br /> flood or other casualty (the "Term"). At the expiration of the Term, this Declaration will be null, <br /> void and of no further force or affect without any further action, instrument or acknowledgment <br /> by the parties. <br /> 5. Covenants Running With the Land. Declarant hereby agrees that it is the <br /> express intent that each of the affirmative and negative covenants and restrictions set forth above <br /> shall be construed to be, deemed, and is hereby declared to be a covenant running with the <br /> Property and that the benefit and burden of such covenants and restrictions shall pass to, and be <br /> binding upon Declarant's successors and assigns and shall be perpetual during the Term, unless <br /> terminated or deleted as hereinafter provided. Each and every contract, lease, conveyance, <br /> agreement or other instrument hereafter executed covering or conveying the Property or any part <br /> or portion thereof shall conclusively be held to have acquired such interest in the Property or any <br /> portion thereof subject to the encumbrance of this instrument, regardless of whether or not such <br /> instrument is set forth or referred to, or specifically agreed to be performed by any such <br /> transferee, in any such contract, lease, conveyance, agreement or other such instrument. <br /> 6. Remedies, Enforceability. In the event of a violation, or attempted violation of <br /> any of the covenants or restrictions above, the HRA may institute and prosecute any proceeding <br /> {00350591 } <br /> 3 <br />