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�. �AS <br /> with deed of trust securing a construction loan from Enterprise Foundation (the <br /> "Construction Loan") for the purpose of constructing improvements on the Property, in an <br /> amount not to exceed the sum of Five Hundred Thousand Dollars ($500,000.00), with <br /> interest not to exceed 6 percent per annum, for a term not to exceed 36 months from the <br /> date of the recordation of this instrument with the County Recorder's Office of the County <br /> of San Mateo, California. <br /> PRIORTIES: The Construction Loan shall be junior and subordinate to the Gr.ant Deed, <br /> this instrument and any subsequent amendment to the Grant Deed and/or this <br /> instrument. <br /> RECONVEYANCE: The Construction Loan shall contain a Partial Reconveyance Clause <br /> which shall provide for the reconveyance of a portion of the deed of trust securing the <br /> performance of the Construction Loan upon the conveyance of a unit by Habitat to an <br /> "Eligible Household" (as said term is defined in the Grant Deed" so as to allow the transfer <br /> of the unit free and clear of the instrument securing the performance of the Construction <br /> Loan." <br /> Other than as specifically amended by this instrument, all the terms and conditions <br /> of the Grant Deed are in full force and effect. <br /> GRANTOR: <br /> The Redevelopment Agency of the City of Redwood City <br /> By: <br /> Its: Director <br /> GRANTEE: <br /> Peninsula Habitat for Humanity, Inc. <br /> By: <br /> Its: <br /> -a- <br /> Sh/rwGCouncil <br /> AGMT-384.doc <br /> FXS/fs <br /> 07/08/00 <br /> _ _.__._.._ _. _._._ _ _.._.__ _ <br />