AgdaPkt 2000-04-24 - Laserfiche WebLink

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. • � `� ,.' • � � - 8. Option and Repu.rchase Period. if Penirtsula Habitat decides to exercise its. Right to Repurchase the Property, it shall, within fifteen �;' �) days of receipt of the notice specified above, notify the Owner. in writing that it chooses to exercise � the option.. Said notice to the owner shali be-sent by Cer�ified Mail, Return Receipt Requested. If Peninsuia Habitat exercises its Right to Repurchase, it shall repurchase the Property within sixty (60) days of the date it sends to owner notice of exe�cise of its option to pur.chase. Peninsula Habitat may, insfead of purchasing the Property itself, assign its right to purchase the Property to a person or entity of its choosing. If Peninsufa Habitat eiects not to exercise its option to repurchase, it shall inform the Owner and the City of Redwood Ciiy, or the Redwood City Redevefopment Agency in writing within sixiy (60) days of receipt of the notice specified above, and thereafter, the City of Redrnrood City � , shall have the right and option to exercise the option for an additional sixiy (60) days after receipt of such notice from Peninsula Habitat. � 9. Effect of failure to Record Waiver. If neither Penirtsula Habitat.nor the City of Redwood City, or the Redwood City RedeveEopment Agency elects to exercise the Right of Fiepurchase with respect to the Property, Peninsula Habitat shall record, and deliver to owner, a notice of waiver, within sixty (60) days after receipt of the Transfer Notice from Owner, in the Official Records of San Mateo County stating that both Peninsula Habitat and the City of Redwood City, or the _ Redwood City REdevelopment Agency I�ave waived its respective Right of Repurchase; provided however, that, any subsequent purchase� of the Property fFOm the owner shall be subject to this Right of Repurchase during the term hereof. Such waiver shall not constitute a waiver for any other future Transfer of � the,Property, including, but not fimited to, any future safe of the Property. If the � Notice of Waiver is not recorded it shall be presumed that said Right of Repurchase has not been waived. 10. Resafe by Feninsula Habitat or the �ity of Redwood City, or the Redwood � City Redevelopment Ageney_ If either PeninsuEa Habitat or t�e• �ity of Redwood City, or the Redwood Cify Redevelopment Agency exercises the Right of Repurchase, Peninsula Habitat or the City of Redwood City, or the Redwood �City Redevefopment Agency shall �again sel( or lease the Property to an Eiigible Ho�sehold selected by Peninsuia Habitat. The transfer price estabiished b� . Peninsula Habitat or #he City of Redwood City, or the Redwood City � Redevelopment Agency for such subsequent transfer wili be the Eligible Sales Price when Peninsula Habitat �or the City of Redwood City, or the Redwood City Redeveiopment Agency, exercises its Right of Repurchase and acquires the Property. Any such subsequent sale of the Property by Peninsula Habitat or the Crty of Redwood City, or the Redwood City Redevelopment Agency shall be subject to the Right of Repurchase expressed in this Grant Deed, or such other terms as may be specified in any subsequent Grant Deed from Peninsula -�- ' Addendum - h� . FXS:fs 04/14/00 ' �