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de~rled~; at~d ~ii~ the priricrpal a~~norrnt{~ of any athe~" laan~s~ ar` subsidy~tes} provided <br /> Agency, <br /> ~ii~ The "Homebuyer ontk"ibutia~~" is file utn of t~~e follo~~ir~g <br /> amounts contributed Harncb~ryer to the purchase price of the Property: {i} tl~e prrncrpal <br /> axr~ol~t~t of file Fast Lien p~~r'cl~ase rnar~ey rnor~tgae~ {ii} Hanleb~~yer's cas~r do~~x~ payment pigs <br /> Harnebuyer''s portia~~ closing cost; and {iii} tl~e original pr"tt~c~pl amount of loans{s~ or` ot~iet" <br /> subsidy~tes} sec~~rcd by Hon~ebuyer, {excl~~ding at~d other than loan{} or subsidy{ies} provided <br /> Ager~c~~ {as set forth rn the defi~a~tion of Agency ~orltribution}} and applied by Horrreb«yer <br /> towards tl~e p~~rcl~ase of tl~e Property, <br /> {iii} Tl~e "Purchase Price" Is tl~e or'iir~l prrrcl~se price paid by <br /> ~Iorneb~zye~" for I~arnehuyer' as tl~e qualified successor o~~~~er" of tl~e Pr+ape~•ty~ to the seller of tl~e <br /> Property {"feller"} for Seller's interest its tl~e Pr'aperty, exclusi~re of escro4~ fees, title irisura~~ce <br /> costs, broker's corntnissions, Ioa~l fees or` ar~y ati~er closing ar trar~actior~ costs Srrb~ect to the <br /> pr'o~isions set foi~l~ llererrlbela, tine ~rallle of ~ualrfied ap~tal I~~~pr"o~emerrts shall be added to <br /> the P~~rcl~ase Pr"ice when calc€~latin tlxe Contingent Equity Par't~cipatio~~ Arnarrnt, <br /> {i~r~ The "Sales Price" ss tl~e price to be paid by the pz•aspective buyer <br /> ~~~ho is not a qualified Iade~'ate Income Housei~ald} of the Property {"~u~er"} to ~omebtryer <br /> for I~otnebuyer as the qualified s«ccessor o~~~tler of the Pr'opert~} for Hot~~ebuyer's interest its the <br /> Praper'ty, exclusive off' reasonable escr+o~~ fees, title insura~rcc costs, br'oker's eon~rnlslot~s, loan <br /> fees or any atlrer` clasit~g or trar~sactio~i casts" Tl~e Sales Price shall be esta~bl~slaed its conformity <br /> ~Vrtll S~C~r~rl t3~17~~r~ l~er'eof~ Its fire event of ~otx~ebuyer"'s refinancing, failure to occupy, or <br /> defa~~lt, tl~e "Sales Price" shall be esfablisl~ed ire conforr~~ity ~r~tli Sect~o~~ I3~i)~ir~, <br /> Tlje "Affo~'dable Housing host S~rbs~d~" is the arnaunt dee~ned to <br /> be a s~~bsidy that Aei~cy leas provided to Hon~ebuyer' by making tl~e Property available fart <br /> p~~r'cl~ase at a price ~llich cal~stltutes an Affor'dablc ~a~isin host, Tire Affordable ~orrsin fast <br /> Subsidy ec~~rals the difference between file appraised fair inar•ket value of the Property {~~l~icl~ <br /> appraisal shall be at Agency's cost} as of tl~e date of the Agrcemet~t a~~d tl~e Affordable Ho~~si~~g . <br /> Cost. <br /> ~i} ~xcep#ia1~ ~lcula#~or~" Notwithstanding the above, tl~e variable <br /> Applicable Factor shall eq~~al the renter of fifty percent ~5t%} oi" tl~e ~ar4iable Applicabre Factor' <br /> calculated p~~r'suant to Section I~~b}; provided however, in the event Hornebuyer receives a First <br /> Lien loan froin tl~e California Ha~~siii Finat~ce Agency ar a First Lien lawn tl~e source of <br /> pi`occeds of which are froin tax exempt bands, then tl~e far"labia Applicable Factor shall equal <br /> the variable Applicable Factor' pei`ce~~tae calculated p~~ruant to Section ~ ~~b~" <br /> {c~ ~lll~ #~xe ~ai•la~le Appl~Ca~~e ~~C#a~~ #o ~e#ertninc #~~c o~~ti~lger~t <br /> Eq~~xty Fax~flclpafian Aii~ollia#~ The ~antingeirt ~quit~ Participation Arno~zi~t is calc~~lated by <br /> multiplying tl~e variable Applicable Factor by tl~e difference bet~~veen tl~e Sales Price and the <br /> Purchase Pr'icef Far" example, if the ar'iable Applicable Factor equals 1 ~,7°Io~ the antinent <br /> Eq~~ity Pa~~ticipation Aino~~nt ~vo~~ld Mien equal ~ a"7°I~ {far"labia Applicable Factor} x {Sales <br /> <br /> Price m.in~~s the Purchase Price}, <br /> E~HIIT I~- ~ ~ T~ A'ITACH~VIENT NO" 1 ~ <br /> Affordable Housing Resale Rests"ictiot~ <br /> <br /> D~~D~l~ ~~DG?~4' 3~~~~~7~-0~0 ~ <br /> ~ l ~ <br /> I <br /> <br />