Laserfiche WebLink
. 3�4i -i S <br /> 4. Determination of Eligibifity. Hab.itat shall have.the right to determine based <br /> upon reasonabie grounds whether any person or househofd is an Eligibie <br /> Household after application of basic eligibility requirements set forth by the City <br /> of Redwood City. <br /> 5. Eligible TransfedAll Other Transfers Void. During the term of the Eligible <br /> Household Purchase Addendum every "Transfer" (as defined below) of a <br /> Property shall be subject to the provisions and conditions set forth in the Eligible <br /> Household Purchase Addendum. Any Transfer without satisfaction of the <br /> provisions and conditions of the Eligible Household Purchase Addendum shall <br /> be prohibited and void. Transfer shall mean and refer to any sale, conveyance, <br /> assignment, transfer, voluntary or involuntary, of any interest in the Property, <br /> including, but not fimited to, a fee simple interest, a joint tenancy interest, a life <br /> estate, a leasehold interest, any 4ease or rental for any period of time (except: as <br /> expressly otherwise permitted), execution of a real estate installment contract by <br /> which possession of the Property is transferred and owner retains title, or grant <br /> of any real:property interest in a Property, including allowing the recordation of a <br /> deed of trust or mortgage which creates a lien on the Property. Transfer shall <br /> not mean or include any sale or transfer by foreclosure or deed in fieu of <br /> foreclosure of a mortgage or deed of trust, provided that such mortgage or deed <br /> of trust is one which is expressly permitted and allowed under the Efigible . <br /> Househo�d Purchase Adcfendum. <br /> 6. Transfer Notice. Prior to entering into any binding agreements associated with <br /> any proposed Transfer, the owner shall deliver to Peninsula Habitat a written <br /> notice (the "Transfer Notice") which sets forth the name of the Owner and the <br /> address of the Property. The Transfer Notice must be sent by certified U.S. Mail, <br /> Return Receipt Requested, to Peninsula Habitat at that address set #orth in the <br /> Efigible Household Purchase Addendum. <br /> 7. Right and Option to Repurchase. The owner shall grant to each Peninsula <br /> Habitat and the City of Redwood City ("City"), and the Redwood City <br /> Redeveiopment Agency (the "Agency") an option to purchase #he preoperty. If <br /> Peninsula Habitat chooses not to exercise its rights, the right and option to <br /> repurchase the Property upon any proposed Transfer of such Property (the <br /> "Right of Repurchase") for the E(igible Sales Price [as defined below] on the <br /> . terms and in the manner set forth in the Eligible Household Purchase <br /> Addendum, the City or Agency may then exercised their respective option to <br /> purchase the preperty. Nothing in the Eligible Household Purchase Addendum <br /> shall consfitute a waiver of any due on saie clause orother provisions contained <br /> in a deed of trust on the Property, in favor of, or which was authorized by, <br /> Peninsula Habitat or the City of Redwood City. <br /> -4- . <br /> Addendum - h5 <br /> ' FXS:fs <br /> 04/14/00 <br /> . <br /> ._. _ _ _ __ _ _._.. __�. _ _ , <br />