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1 1 + <br /> ADDENDUM TO GRANT DEED <br /> RESTRICTIONS FOR AFFORDABLE <br /> OWNERSHIP HOUSING <br /> # New Name Way <br /> Redwood City, California . <br /> THE GRANT MADE BY, AND THE TITLE CONVEYED TO THE GRANTEE <br /> UNDER, THE GRANT DEED TO WHICI� THIS ADDENDUM TO GRANT <br /> DEED RES'�RICTIONS FOR AFFORDABLE OWNERSHIP HOUSING IS <br /> ATTACHED AND MADE EXPRESSLY SUBJECT TO THE TERMS AND <br /> PROVISIONS STATED IN THIS ADDENDUM TO GRANT DEED. <br /> a. Power of Termination. The establishment and preservation of housing for persons <br /> who qualify as Eligible Households is the main and substantial purpose of the <br /> Grantor(Peninsula Habitat for Humanity,hereinafter referred to as ``Habit at' '). <br /> It is not the intention of Habitat to provide housing ownership whereby persons <br /> will acquire an equity ownership in the manner that would provide any owner <br /> with any right to receive a profit upon the resale of the housing so provided by <br /> Habitat. Therefore, the Purchase and Sale Agreement(the "Agreement) and this <br /> Addendum shall provide Habitat or Redwood City, if Habitat chooses not to <br /> exercise its rights, with a right to repurchase the Property should the <br /> grantee/owner decide to sell or otherwise transfer the Property. Should the owner <br /> or any other party fail to comply with the provisions of this Addendum or the <br /> Agreement,then this Addendum shall provide that Habitat has a right and power <br /> of ternunation of the estate and title granted by the Grant Deed to whic h t his <br /> Addendum is attached. <br /> b Occupancy and Ownership Restricted to Eligible Households. During the term of <br /> this Addendum, the owner of the Property must occupy the Property as his or her <br /> principal residence. The owner shall be presumed to be occupying the Property as <br /> his or her principal residence if the owner is living in the Property fc�`r at least ten <br /> (10) months out of each calendar year. The owner shall not rent or lease the <br /> Property for more than two months during any twelve-month period and shall not <br /> lease or rent the Property without providing Habitat with a copy of the lease or <br /> rental agreement. Any lease or rental in violation of the provisions of this <br /> Addendum shall be prohibited and void.Except as so provided in this Addendum, <br /> ' all leasing or rental of the Property shall be a Transfer as defined in this <br /> ' Addendum, and subject to the provisions of this Addendum. <br /> � i c. Eligible Household. As used in the Agreement,the term "Eligible Household' ' <br /> , shall mean a Household which: <br /> 0 resides within the incorporated area of the Redwood City at the time of <br /> application. However, the first time homebuyers that the Developer selects <br /> Attachment No. 7 <br /> Page 1 of 5 <br />