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~4- ~~~~.,.t <br />in the project. <br />4. All advertising, including signs on the Premises advert- <br />ising the sale or rental of the Premises shall include the legend, <br />"An Open Occupancy Building" in type or lettering of easily legible <br />size and design. <br />5. Grantees shall not, prior to the completion of the improve- <br />ments on the Premises, as certified by the Director of the Community <br />Development Agency, sell, assign, contract to sell, or in any <br />manner convey the Premises or any interest therein without the <br />prior written approval of the Director of the Community Development <br />Agency. Any successor in interest of Grantees shall be bound by <br />the provisions of this deed. <br />6. Prior to the completion of the improvements on the Premises <br />as certified by the Director of the Community Development Agency, <br />neither the Grantees nor any successor in interest to the Premises <br />shall engage in any financing or ary other transaction creating <br />any mortgage or other encumbrance ar lien upon the Premises, <br />whether by express agreement or operation of law, ar suffer any <br />encumbrance ox lien to be made on or attached to the Premises, <br />except for the purpose only of abtaining: <br />A. Funds only to the extent necessary_ for maxim <br />the improvements; or <br />B. Such additional funds; if any, in an amount not to <br />exceed the purchase price paid by the Grantees. <br />Until issuance of the certificate of completion, Grantees or their <br />successors in interest shall notify tree Director of the Community <br />Development Agency, in advance, of any financing secured by a <br />mortgage or ather similar lien instrument which Grantee proposes <br />to enter into with respect to the Fremises, and of any encumbrance <br />or lien that has been created or attached to the Fremises by invo- <br />luntar4 act of the Grantees, or otherwise. <br />i. The balder of any mortgage authorized by the Director of <br />the Community Development Agency, including any holder who obtains <br />title to the Premises or any part thereof as a result of foreclosure <br />proceedings or action in lieu thereof (but not including: <br />- 2 - <br />