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against the title of Property, other than the deed of trust securing the Habitat Loan, except as expressly otherwise pernutted hereunder, such sale, conveyance or other transfer or mortgage, deed of trust, lien or other encumbrance is and sha11 be deemed to be null and void and sha11 not entitle any party to any rights, title or claim to or against the title to the Property. THEREFORE, each Unit sha11 be sold by Grantee only to and held by persons who qualify as Eligible Households and the sale conveyance, or other disposition, transfer, conveyance of each Unit shall be made only by and pursuant to documents that restrict the future encumbrance, sale, conveyance, transfer, or other disposition of the Units and as set forth below: 1. The Grantee shall sell, transfer and convey the Units only to eligible households (sometimes referred to as"Owners" or"Owner")under the terms and conditions herein stated. 2. As the sale, conveyance, or other transfer or further encumbrance of a Unit by the Owner thereof, or the further encumbrance of the Unit is contrary to the purpose and intent of the federal, state and/or local programs pursuant to which Units are made available to eligible households and the further encumbrance, sale, transfer, conveyance thereof, will frustrate the basic purposes for which the Unit was sold to the Owner, grantee covenants and agree on its behalf and on beha.lf of its assignees and successors in interest (hereinafter collectively referred to as "grantee") that in the event that any owner or other party should sell, convey or otherwise transfer or further encumber a Unit, other than the first deed of tntst which constitutes the Habitat Loan, except as expressly otherwise permitted hereinunder, it is agreed by grantee that such sale, conveyance, or other transfer or mortgage or further encumbrance or lien is and shall be deemed to be null and void and shall not entitle any party to any rights, title or claim to or against the title to the Unit sold, conveyed, transferred, or encumbered and shall constitute a default under the terms and conditions of this document and any agreement between grantee and Owner. 3. Each deed from grantee to an Owner shall be expressly made subject to an Addendum to Grant Deed with Power of Termination(the Eligible Household Purchase Addendum), inform and content approved by the City of Redwood City ("Grantor")which shall provide that: a. Power of Termination. The establishment and preservation of housing for persons who qualify as Eligible Households is the main and substantial purpose of Peninsula Habitat for Humanity, Inc. ("Habitat"). It is not the intention of Habitat to provide housing ownership whereby persons will acquire an equity ownership in the manner that would provide any Owner with any right to receive a profit upon the resale of a Unit. Therefore, this Eligible Household Purchase Addendum provides that 2 _.. ... _ , _ . ....__._�.___.�_. � _ . __