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Addendum to Deed of Trust
<br /> The following provisions are hereby added to the Deed of Trust made by and
<br /> , as "Borrower/Trustor", Old Republic Title Company, as Trustee, and Peninsula
<br /> Habitat for Humanity, Inc., a California Non-profit Corporation, as "LenderBeneficiary".
<br /> 1.Junior or Further Financing Prohibited.Junior or further financing is not permitted,except as
<br /> expressly permitted by this paragraph.One of the inducements to Borrower/Trustor for the making of
<br /> the Loan is the identity of Borrower/Trustor as the purchaser from LenderBeneficiary of the real
<br /> property secured by this Deed of Trust. The existence of any interest in the Property,other than the
<br /> interests of Lender/Beneficiary and Borrower/Trustor, and the encumbrance of this Deed of Trust,
<br /> even though subordinate to the security interest of Beneficiary, and the existence of any interest in
<br /> Borrower/Trustor or the property other than those of the Borrower/Trustor as the present owners,
<br /> would impair the Property and the security interest of Lender/Beneficiary. In no event shall the
<br /> Borrower/Trustor encumber,or permit the encumbrance of,the real property which is encumbered by
<br /> this first deed of trust by any instrument creating a lien or mortgage against said real property,which
<br /> is either junior,subordinate to or prior to this deed of trust;except the liens identified in paragraph 1
<br /> of this deed of trust;provided however,that with the prior written approval of LenderBeneficiary,
<br /> the Borrower/Trustor may,to a limited extent as herein provided,further encumber the real property
<br /> with a deed of trust junior to this deed of trust("Approved Junior Lien")to secure an obligation of
<br /> Borrower/Trustor to another party in an amount which does not exceed the amou.nt of the equity of
<br /> the Borrower/Trustor in the real property, which equity shall mean the amaunt of any cash down
<br /> payment paid by Borrower/Trustor to Peninsula Habitat for Humanity,Inc.,a California Non-profit
<br /> Corporation ["Habitat"], when Borrower/Trustor purchased the real property and any principal
<br /> payments made by Borrower/Trustor on the Note which this Deed of Trust secures. Except for the
<br /> lien of this deed of trust securing the indebtedness of Borrower/Trustor to LenderBeneficiary, and
<br /> any Approved Junior Lien,Borrower/Trustor will not create or permit to continue in existence any
<br /> mortgage, pledge, encumbrance, lien, or charge of any kind (including purchase money and
<br /> conditional sale liens)on any of the said real property except for liens for taxes not yet delinquent.
<br /> Any transaction in violation of this section will cause all indebtedness secured by this deed of trust to
<br /> the benefit of the LenderBeneficiary, irrespective of the maturity dates, at the option of the holder
<br /> � and without demand or notice,to immediately become due,together with any prepayment premium
<br /> ' in accordance with the terms of the Note.Borrower/Trustor acknowledges that the transaction for the
<br /> sale to the Borrower/Trustor of the subject real property secured by this deed of trust by
<br /> : LenderBeneficiary was made under special circumstances whereby Habitat has made available
<br /> i
<br /> below market rate housing for acquisition by certain purchaser owners as qualified households,with
<br /> � the express understanding that such owners who so qualify as qualified households to purchase such
<br /> ' ' housing are receiving a special and unique benefit by a not for profit organization, and that such
<br /> � ' owners do not intend to receive,and are not entitled to receive,any rights to equity or appreciation of
<br /> value of the real property sold to them and secured by this deed of trust. As such, the further
<br /> encumbering of any such real properiy,except as expressly provided for herein,is antithetical to the
<br /> purpose and intention of the making available to said persons who qualify as qualified households
<br /> such below market rate housing, and the further encumbrance thereof will frustrate the basic
<br /> purposes for which the property subject to this deed of trust was sold to the Borrower/Trustor. In the
<br /> event that any party should make,execute,deliver andlor record any mortgage,deed of trust,lien or
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