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al~er, itt addition to the faitF marl~et value of uali~ed appal Irnpto~ements consistent v~ith <br /> the ~•equiretttents of ectian 7{g~ hereof, <br /> ~I~ De#e~~~nilrafiorz of Sales Price; A~~prnisal, <br /> ~i} Upoxt Sale of flee Property, the evextt of a prioposed sale of the <br /> Property by the ~~omeb~~yer that does trot cottfor~n to Sectior~ 9 and riot less tl~an thit~ty ~o~ days <br /> aer• tl~e Holder ~'eee~ves actual nattce of tl~e opertrr~ of escrow in cott~tection therewith, the <br /> l folder may elect to appoint a certified, independent appraiser' to co~td~~ct apt appraisal of rite <br /> Property, at rite faker}s exper}se, to assist the Holder in deterrttrrtrrtg rf the dales Price is at or <br /> near rite fait' ~tta~•l~et ~alrre of the Pr+aperty at s~~cl~ tir~te~ ~ tit Sales Priice is deterrnir~ed by rile <br /> appraisal to toe three percent ~3°~~} on ~nor• below the fair market ~al~re of tote Property as <br /> eti~t~ated in said appraisal, then tl~e `Sales Price" for' ~turl~ases ~f aleterrnrrlrn tl~e ontingettt <br /> ~q~~ity Participatio~t Antot~nt shall be rile fair' market ~ralue of rite Property established ire said <br /> appraisal, <br /> ~ii~ Upotr Refillc~I1C11~g~Falllrr'e to OccupylDefulf, lr~ rite e~ettt of <br /> refinanci~tg~ faill~r to ocer~py the Property in accor•dattce ~~itlt Section 7 a'tl~e Agreerner~t, or• art <br /> D~~nership Default or~ breach of any pro~isiar~ of the Agreernertt iticit ca~rses the contingent <br /> Equity Partrcrpatrort Arno~~nt to becottte ~~nrttediately due artd payable, rite "Sales Price}' for <br /> purposes of determirtirt the ~oritirtger~t q~~ity Pa~t~ticipation Arttorrnt shall be detertnirred by an <br /> apps+aisal of the Property. The I-~older shall appoint a cet°tified independent appraiser' to corrd~~ct <br /> ate appraisal of the P~•ope~'ty~ at rite ~Vfaker'~s expense, The al~er agrees that i~t such e~ertt the <br /> oritrriger~t l~quity Participatio~t Atnol~~tt shall be the Variable Applicable Factor multiplied by <br /> the difference between rite Purchase Price attd `~Sies Priee" as established by tl~e appraised ~ai~~e <br /> of the Property at the time of s~~ch refinancing, faill~re to occupy, or• defa~~lt t~tYder ~l~e <br /> Agree~ne~tt. , <br /> al~er•'s Acl~~lowledgxttexa# of o~i~i~rge~rt Equity Particilta#iaxz Axttourl#. <br /> AI~ER A.NOwLEDOES AND AGREES THAT UPON <br /> SALE, TRANSFER OR REFINANI~IN OF THE <br /> PROPERT'~ THAT DOES NOT CO~VIPL~ WITH SE~TYON <br /> 9, ANDIOR UPON ANA' OTHER DEFAULT THAT CAUSES <br /> AN EVENT OF AOELERATION AS SET FORTH IN <br /> SECTION G HEREOF, ~VIAI~ER SHALL PAS TO HOLDER <br /> SIN ADDITION TO THE AEN~' LOAN AMOUNT}, A <br /> ONTINOENT EQUIT'~ PARTICIPATION AMOUNT <br /> EUA.~? TO A PER~ENTAE SHARE OF THE <br /> APPREOYATYON OF THE PROPERTY AS ADULATED <br /> PURSUANT TO SECTION 7, <br /> NIAERII~ONIEBUVER'S INITIALS; <br /> 9. Sale #o ~Io~lex•a#e Iracom~ Ilousehol~ a# Afforc~ahYe ~Iarasi~t host, luring the . <br /> Affordability Period, the Note will not become d~~e and payable and rro ontitterrt Eq~~ity <br /> Participation Antaunt shall be required lrereu~rder in cortr~ect~ott with such sale, rf the maker sells <br /> ~~l~Il~lT B~ TO ATTA~ENT NO~ l 1 <br /> Prontissot~y date <br /> <br /> ~a~~~~~1 1 <br /> <br />