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SALE PRQI3IBITION COVENANT <br /> THIS SAI.E PROHIBITION COVENANI'is made this ��day of March,2007 by A�'F III <br /> Silver L.akr. LL.C, a Delaware limitcd liability company, with respec[ to �hat cenain property <br /> commonly known as ?020 Lake Heights Drive, Hverett, Washington, and legally dcscribed <br /> identiticd in Ezhibit A at[ached hereto(ihc "Property"): <br /> 1. ThiS covcnant has been recorded in the real property records of Snohomish County, <br /> Washington, in satisfaction of kie rcquiremcnts of RCW 64.55.010 ttuough G4.55.090. <br /> '1'he undersigncd is d�e owncr of the Property dcscribed an Ezhibit A. Until <br /> tcmiination oC this covenant, no dwdling unit in or on the Property may be sold as a <br /> condominium unit except for sales listed in RCW 64.34.400(2). <br /> 2. 7his covcnnn�terminates on the eerlier of either. (a)compliancc with 1he requiremcnts <br /> of RCW 64.55.090, as cenificd by thc owncr of the Property in a recorded suFplerr.ent <br /> herero; or(b) the Gfth anniversary oC dic date of first xcupnncy of n dwelling unit as <br /> certified by thc owncr in a:<corded supplemcnt hcreto. <br /> 3. Atl tiUe insurancc c:ompanies znd persor.s ncquiring an interest in ihe PropeRy may <br /> rely on the forgoing ccrtifications without further inquiry in issuing nny policy of title <br /> insurance or in acquiring nn interest in the PropeRy. <br /> AVP III SILVER LAICE LLC, a Delawazc limited <br /> linbility company <br /> By: BlackItock Apartment Vnlue Pund III, lnc., a <br /> Maryland cor�wration <br /> It� sole member <br /> B y: <br /> Pnnt Nm . Robert J. Wciss <br /> TiAc: V'cc President Rc Assistant Sccrc[ary <br /> � <br />