HABITAT FOR HUMANITY OF ORANGE COUNTY (5)

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EXHIBIT D (a) the sale or transfer of the Property (or any part thereof) by any means, including, without limitation, the lease, exchange or other disposition of the Property or any interest therein, whether voluntary or involuntary, except (i) a sale of the Property to a qualified Low Income Household at an Affordable Housing Cost with the City's prior written approval accomplished in strict conformity with [Section 4] of the Agreement, or (ii) the transfer of the Property solely as a result of the marriage, divorce, incompetence or death of one or more individuals constituting the Homebuyer, so long as the transferee(s) give written notice supported by reasonable evidence of such event to the Authority within thirty (30) days of its occurrence and the transferee(s) assume(s) the Homebuyer's obligations under the Agreement, by execution of an assignment and assumption agreement to be provided by the Authority, or (iii) a sale or transfer which under federal law would not, by itself, permit the City to exercise a due on sale or due on encumbrance clause; (b) the Maker refinances any purchase money lien or encumbrance to which the City Deed of Trust is subordinate (each such lien, a"First Lien") for a loan amount in excess of the then current loan balance secured by such lien or encumbrance and loan closing costs; and/or (c) the Maker (and all co-signors and co-mortgagors, if any) fails to own and occupy the Property as their principal residence pursuant to [Section 7] of the Agreement or is in Ownership Default as defined in [Section 18] of the Agreement. At the request of the Maker, and for a specific occasion, the Holder may, in its sole and absolute discretion, in writing waive the requirements of these subparagraphs and defer repayment and/or extend the term of this Note. Any waiver or deferment shall be on a case by case basis, and no future rights for waiver or deferment shall arise or be implied. Notwithstanding the foregoing, the Maker may, upon prior written approval by the Holder, refmance any First Lien for a loan amount equal to or less than the then current loan balance secured by such First Lien. 7. Reserved. 8. Right of First Refusal. Homebuyer shall notify the Holder of any desire to sell the Property immediately. Homebuyer shall also immediately notify Developer (Habitat for Humanity of Orange County) as required by the terms of the Agreement and documents executed between Homebuyer and Developer provide Developer an option and the right of first refusal to purchase the Property. 9. Sale to Low Income Household at Affordable Housing Cost. During the Affordability Period, the Note will not become due and payable in connection with such sale, if the Maker sells or otherwise conveys the Property to an Eligible Household, and the purchaser assumes this Note and the Agreement by an assignment and assumption agreement which is reasonably acceptable to the Holder. 9.1 Affordable Housing Cost— Low Income Household. The Ivlaker has qualified as and each eligible and qualified successor-in-interest to the Maker shall be a Low Income Household. The term "Affordable Housing Cost" as used herein and for each Homebuyer (and 2 Exhibit D