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80A - TRANSIT CODE AND STATION DISTRICT - EXHIBIT J
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80A - TRANSIT CODE AND STATION DISTRICT - EXHIBIT J
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1/3/2012 4:05:19 PM
Creation date
6/10/2010 1:10:58 PM
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City Clerk
Doc Type
Agenda Packet
Item #
80A
Date
6/7/2010
Destruction Year
2015
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viii} The "Purclase Price" is the orii~~al purchase price paid by the <br /> Tr~rstor far the Tr~rsfar as the q~~ali~ed successor a~~r~er of the Proper-ty~ to the seller of the <br /> Property the "Seller"~ the Seller's interest in the P~iopet~ty ~etlerally ~~hich i equal to the <br /> fair market value of the Pr`apel•ty at date of ariinal p~~r•chase~, eclusi~e of escra~~ Fees, title <br /> lnul'ance costs, bt•ol~er's Cotl'~rY~issiar~s, loan fees or any otller clasirl ar tratisactton casts. <br /> Slrb~ect to the provrsrons set fo~~th hereinbela~~r, the value of Q~zli~ed capital I~npra~e~rrent <br /> shall be added to the Purchase Price ~rl~en calc~tlatin the at~tit~ent equity Pat•ticipat~o~l <br /> Amaur~t, <br /> {i~} The "Sales Pricy" is the price to be paid by the prospective buyer <br /> ~~l~a is clot a gt~altf~cd Moderate Incan~e I-Iousehold) ofth Propert~~ ~tlie "Btlyer~'} to tl~e Trustot~ <br /> for tl~e Trustor as the q~talif~ed successor{ owner of the Praper•t~} for• tl~e Tt~ustor' i~~terest irl the <br /> P~•opcrty, ecl~rsive of reasonable escr•o~~~ Fees, title insut•ance casts, broker's cot~~xnissla~ls, loatt <br /> fees or• at~y other clasittg ar transaction costs Tlae Sales Price sllall be established its corlfoa•~nit~ <br /> itlt ~ectian ~~1~}~i}hereof, ~n the evet~t ofTrustar•'s refir~aticltl~, fai~ut•e to occupy, oi' other type <br /> of ~~~nership Default, tl~e "Sales Pt~lce'~ sllall be established ire corlfo~~~l~it~ ~~~ith Sectiatl 2~h~~ii} <br /> hereof, <br /> ~v~ The "Affordable ~ousi~l host Subsid~~" is tl~e amount deer~led to <br /> be a subsidy the I~eneficiat•y leas p~~ovided to the Trustor b~ rnakirt~ the Property available far <br /> purchase at a price hick or~stit~~ts A.ffat;dable Ha~rsir~g host. Tl~e Affordable Ho~rsi~l fast <br /> tzbsidy equals the differetlee betu~eet~ tl~e appraised fair market value of the Property ~v~hlcll <br /> appraisal shall be at ~eneficiar+y's cost} as of tl~e date of the Hatnebuyer Laar~ Agrcernei~t at~d the <br /> Affordable Hausirl ost~ <br /> ~i} ~xceplio~t alcu~atia~r, ot4~~rtl~star~drt~g tl~e above, the variable <br /> Applicable ~'acto~• sllall equal the r~ eater. of pe~~ce~lt ~Sa°~o} or tl~e ~ariahle Applicable ~'actoz• <br /> calc~~lated p~uisuattt to Section ~b~; provided l~o~~e~e~i, in the evet~t Trustor reccl~e a ~rrst Lien <br /> loat~ from the California ~ausiug F~~latlce Agency ar• a p'irst Lien loo:a the solu~ce ofptaceeds of <br /> which are from tai exempt bons, then the variable Applicable liactor• sl~a~~ equal the variable <br /> Applicable `actor percentage cale~rlated pt~rsuatlt to ectiorr ~~b} l~ereaf, <br /> ~c~ Usiatg tote ~ar~able Appl~cab~c ~ac~o~1 to ~ete~}Itii~~e the olitii~get~~ <br /> ~gtll' P~~'f~Clp~f IO~~ AI~]ULCII~, The ~otlt~ngent ~qurty Par•trclpatlot~ Atr~o~~tlt calculated <br /> ~llultiplyirt the ~ar•iable Applicable factor by the difference bet~~eer~ tl~e Sales Price a~ld the <br /> P~tr•chase Price, ~'oz~ eat~lple, if the ~ar•iablc Applicable factor equals I ~,~°Io, the Cor7tingcr~t <br /> equity Par~icipatiorl Atno~~~lt would then equal X0.7°~0 ~~at4iable Applicable Pactar~ ~ Sales <br /> Price ~llitl~ts the Purchase Price}, <br /> Irr the above exan.~ple, if the Sales I'~~ice equals ~80,~DD and the Purchase P~;ice <br /> egttals ~8a,00a, the arrti~lget~t Equity Par•trctpattoxl Amol~rtt ~vauld egttal ~ a,7aa <br /> ~14~7°Io ~ ~$SO,ooo minus ~Sa,aaa}}, <br /> EXHIBIT -4 T~ ATTAH~~T N~.11 <br /> To Deed of Trust ~~ith Assigrltnetlt of Re~lts <br /> hider to Deed of Trust <br /> <br /> DDCSaGII ~0~673v131200~7~-~0~1 <br /> <br />
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