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~on~ebuyer, rn add~t~on to Fair n~rarket ~ralue of qualified ap~tal I~~rpravemerrts col~isterr# <br /> witia fire requirerrrents of Sectiarr 1 ~ he~~eof~ <br /> ~i1~ Deterrnit~atlon I~~ Slcs ~I•l~e; Appralsar, <br /> ~i} U~~on Sale of the Propert~r, ~z~ fire event of a proposed sale of t~~e <br /> Praperty ~orxreblx~er that does not corrfarrrr to Sectiarr ~ lrereir~, and slat less than tl~irty <br /> days aver Ael~c~ recei~res actual native of the aperrirr of escro~~r irr corr~~ectiorr tlrer'e~~itir, the <br /> Agency may effect to apporrrt ~ certified, rndependerr~ appraise' to conduct ate appraisal of tlr~ <br /> Propel+ty, at Horrrebuya4's expense, to assist Agency in deterr~rlnrng if tie cries Price is at o~i near' <br /> the fai~~ tr~ar~et value off` tl~e Praper•ty at sr~ci~ time, 7f file Sales Price deterrrrirred by the <br /> appraisal to be three percent ~3°I~} ar' more belo~~ tyre fair tnar*ket ~alrle of tine Property a <br /> estimated irr said appraisal, then tyre {gales Price" for l~urpase of deter'rrrlnrng the ont~I~ent <br /> equity Participatiarr Atno~rnt small be the Fair n~arl~et ~alc~e of the Property established in said <br /> appraisal. <br /> ~ii~ Uporl Refil~atlclll~~Fc~~~llx•e o Occ~Ip~~IDefar~It, irr fire event of <br /> r'efi~aa~rci~~g, fail~~re to oecrrpy the Prope~~ty in accorda~~ce ~~itlr ectio~~ to llereaf, or default ar <br /> breach of a~~y pra~isiorr of the Loan Ag~~eetnerrt ~~rlric~~ causes the ~ot~ti~~en~ Pq~~~ty <br /> Participatioir A~~lourrt to beco~~~e ~t~mediately due and payable, the "ales Price" for' purposes of <br /> determining the ont~~rel~t Equity Pa~~ticipatiarr Atnount shall be dete~~m~ned by atr appa~a~s~l of <br /> the P~+oper'ty, Agency sl~iall appairrt a certified independent appraiser to conduc# an app~~aial of <br /> the Property, at I~arnebuye~''s expense, ~o~r~ebuyer agrees tl~at rr~ suer e~et~t tl~e ~arrtrrrent <br /> Eq~ri#~~ Par~ticipatian Amou~rt shall be tlre'~ar~iable Applicable Factor rnrlltiplied ley the difference <br /> bet4~eet~ file Purcl~ae Price acrd "cries Price" as established by tl~e appr'alsed ~a~~~e of the <br /> Property at the time ofsuclr re~rra~rci~rg, failure to occ~~py, or defa~~lt of tl~e Agreernerrt~ <br /> ~i~ Hor~~ebrryer's Ac~~r~o~vlednrerrt o~ arrtirrerrt Eglltt~: Participation <br /> AIrl0~ll1#, <br /> HONIEI3~I~LR AI~NOwLEDOE AND AGREES THAT <br /> UPON BALL, TRANSIt~ER OR RE~'INANIN OIt~ THE <br /> PROPERTY THAT DOES NOT ONIPL'~ WITH SEOTION <br /> ~ HEREIN, ANDIOR UPON ANA OTIIER EVENT OI` <br /> AOOELERA.TION A SET ~`ORTH IN SETYON <br /> HEREOF", HOEDU~ER SHALL PAS TO AGENCY IN <br /> ADDITION TO TkIL AEI{~N~ LOAN AIQTJNT~ A <br /> CONTINGENT E~IT~ PARTICIPATION AMOUNT <br /> EI~AL TO A PERCENTAGE SHARE THI+~ <br /> APPREOIATYON OE THI+~ PROPERTY AS CALCULATED <br /> PURSUANT TO THIS SECTION 1, <br /> HOEPU~ER'S INITIALS: <br /> 1~, orrrpl~atrce with Laws; Oo~errzil~g La~~r, I~omebuyer Hereby agrees to cornp~y <br /> ~v~th all applicable o~~dinances, r~~les, at~d regulations of Agency, N~ot~hing l~er'eitl is intended to <br /> be, nor shall it be deetr~ed to be, a ~~rai~er of any City ordinance, rule, of regulation, This <br /> EHIErT D-1 ~ T~ ATTA~UM.ENT N~, 11 <br /> Affordable PIatlsirr Bessie Restr'ict~on <br /> <br /> DOCa~11~0~~3~f~31~~~~7~-~~~1 ~ <br /> <br />