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EXHIBIT D <br />ADDENDUM TO GRANT DEED <br />RESTRICTIONS FOR AFFORDABLE <br />OWNERSHIP HOUSING <br />3426 3436 3446 3466 3466 3476 -3480 3436 Rolison Road and <br />1181 Haven Avenue, Redwood City, California <br />(the "Property ") <br />THE GRANT MADE BY, AND THE TITLE CONVEYED TO THE GRANTEE <br />UNDER, THE GRANT DEED TO WHICH THIS ADDENDUM TO GRANT DEED <br />RESTRICTIONS FOR AFFORDABLE OWNERSHIP HOUSING IS ATTACHED <br />AND MADE EXPRESSLY SUBJECT TO THE TERMS AND PROVISIONS <br />STATED IN THIS ADDENDUM TO GRANT DEED. <br />i. This grant is made with the express understanding and requirement that <br />the Peninsula Habitat for Humanity, Inc. ( "Peninsula Habitat ") will improve or <br />cause to be improved the Property hereunder granted by constructing r causing <br />g <br />the construction of thirty six (36) ownership residences thereon as affordable <br />ownership housing for acquisition by certain purchasers who meet the <br />qualifications herein set forth as "Eligible Households ". <br />Il. Peninsula Habitat shall sell the Property as affordable ownership housing <br />g <br />for acquisition by purchasers who qualify as Eligible Households, as herein <br />defined, with the express understanding that purchasers and owners who so <br />qualify as Eligible Households to purchase such housing re receiving a special <br />g g p <br />and unique benefit by a not- for - profit organization, and that such owners are not <br />entitled to receive any rights to equity or appreciation of value of the real ro ert <br />p p Y <br />said to them. To facilitate the sale of the Property to such Eligible Households <br />Peninsula Habitat will be making or « arranging for financing which will encumber <br />the Property as an all - inclusive" deed of trust (the "Peninsula Habitat Loan"), <br />which will include in the loan obligation of the Peninsula Habitat Loan the <br />Restrictions for Affordable ownership Housing to be secured b y a first deed of <br />trust on the Property. As such, the sale, conveyance or other transfer of the <br />Property by the owner thereof, or the further encumbering F' of the Property, is <br />contrary to the purpose and intention of the making available to said p ersons <br />who qualify as Eligible Households such affordable ownership housing, the <br />p g} <br />sale, transfer, conveyance, or further encumbrance thereof will frustrate the <br />basic purposes for which the Property is to be sold to the owner. Therefore in <br />- 1 - <br />Addendum -h5 <br />FXS:fs <br />04/14/00 <br />