Agmt00 Purchase Agreement Habitat for Humanity - Rolison Haven

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