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6.B. - Page 73 of 113
<br />this Agreement and the requirement that the Home be sold at an Affordable Sales Price shall
<br />have priority over any subordinate liens requiring shared appreciation.
<br />8.2 Default and Foreclosure In the event of any default under any lien recorded
<br />against the Home, Habitat and City, in addition to any other remedies it may have under this
<br />Agreement, shall have the right to
<br />(a) Cure such default, in which case Owner shall pay upon demand the expenses incurred
<br />by Habitat or City in curing such default;
<br />(b) Exercise its Option pursuant to Section 6; and
<br />(c) Foreclose their respective Deeds of Trust on the Home
<br />8.3 Excess Proceeds Paid from Creditor's Sale If a creditor acquires title to the Home
<br />through a deed in lieu of foreclosure, a trustee's deed upon a foreclosure sale, or otherwise, Owner
<br />shall not be entitled to the proceeds of sale in excess of the following ('Excess Proceeds"): (i) the
<br />Adjusted Sales Price, calculated as of the date of such sale, less (ii) the sum of amounts paid or
<br />credited to the creditor and any senior creditor and the costs of sale. The Owner shall instruct the
<br />holder of such Excess Proceeds to pay such proceeds to Habitat as repayment for, and in
<br />consideration of, the financial assistance provided in the development of the Home As more
<br />particularly set forth in the Grant Agreement Habitat shall pay to City twenty-seven and 77/100
<br />percent (27.77%) of Excess Proceeds it receives, less costs of collection, based upon City's pro rata
<br />contribution toward the development cost of the Home taking into consideration the financial
<br />contributions of Habitat and other public agencies that have provided financing and that require
<br />payment of a share of Excess Proceeds If the financial contribution to the Project provided by City
<br />or other public agencies is modified, the City's share of Excess Proceeds shall be modified
<br />accordingly
<br />8.4 Non -Discrimination. Habitat covenants by and for itself and its successors and assigns that
<br />there shall be no discrimination against or segregation of a person or of a group of persons on
<br />account of race, color, religion, creed, age, disability, sex, sexual orientation, gender identity, marital
<br />status, genetic information, medical condition, ancestry or national origin in the sale, lease, sublease,
<br />transfer, use, occupancy, tenure or enjoyment of the Home, nor shall Habitat or any person claiming
<br />under or through Habitat establish or permit any such practice or practices of discrimination or
<br />segregation with reference to the selection, location, number, use or occupancy of buyers, tenants,
<br />lessees, subtenants, sublessees or vendees in the Home. The foregoing covenant runs with the
<br />land
<br />AGREEMENT TO RUN WITH THE LAND
<br />The covenants, reservations and restrictions set forth in this Agreement shall be deemed
<br />covenants running with the land and shall pass to and be binding upon the Home and each Successor -
<br />In -Interest in the Home for the term provided above The Owner hereby expressly assumes the duty
<br />and obligation to perform each of the covenants and to honor each of the reservations and restrictions
<br />set forth in this Agreement. Each and every contract, deed or other instrument hereafter executed
<br />covering or conveying the Home or any interest therein shall conclusively be held to have been
<br />executed, delivered and accepted subject to such covenants, reservations, and restrictions, regardless
<br />of whether such covenants, reservations and restrictions are set forth in such contract, deed or other
<br />instrument.
<br />10. GENERAL PROVISIONS
<br />REV: 01-22-21 PR
<br />1619\01\2521032. 1
<br />10/9/2020
<br />OAK #4834-0642-2484 Q
<br />ATTY/AGR.2020.305/Habitat for Humanity Greater San Francisco (Grant Agreement w/ Exhibits) (Page 69 of 109)
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