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Maker, In addition to the fair market value of Qualified Capital Improvements consistent with the requirements of Section 7 hereof. D a terndn a tion of Sales Price; Appraisal. (i) Sale of the Property. In the event of a proposed s ale of the Property by the Homebuyer that does not conform to Section 9 and not less than thirty (3o day after the Holder receives actual notice of the openinr of escrow in connection therewith, the Holder may elect to appoint a certified, independent appraiser to conduct an appraisal of the Property, at the Taker's expense, to assist the Holder in determining if the Sales Price is at or near the fair market value of the Property at such time. If the Sales Price is determined by the appraisal to be three percent (3%) or more below the fair market value of the Property as estimated in said appraisal, then the "'Sales Pri e" for purposes of determining the Contingent Equity Participation Amount shad[ be the fair market value of the Property established in said appraisal. (ii) Upon erma ncin g/Failure to Occupy/Default. In the event of refinancing, failure to occupy the Property in accordance with Section 7 of the Agreement, or an Ownership Default or breach of any provision of the Agreement which causes the Contingent Equity Participation Amount to become immediately due and payable, the "'Sales Price" for purposes of d e ten in ing the Contingent Equity Participation Amount shall be determined by are appraisal of the Property. The Holder shall appoint a certified independent appraiser to conduct an appraisal of the Property, at the Maker's p n . The Maker agrees that in such event the Contingent Equity Participation Amount shall be the Variable Applicable Factor rnu l tipl i ed by the difference between the Purchase Price and "Sales Price" as established b y the appraised value of the Property at the time of such refinancing, failure to occupy, or default under the Agreement. 8. Maker's Ac nowI erl gment of Contingent Equity Participation Amount. MAKER ACKNOWLEDGES AND AGREES THAT UPON BADE, TRANSFER OR REFINANCING of THE PROPERTY T THAT DOES NOT COMYLY WITH SECTION , AND/OR ITT ANY OTHER DEFAULT THAT CAUSES AN EVENT OF ACCELERATION ATION A SET FORTH IN SECTION 6 HE OF, MAKER SHALL PAY To HOLDER (IN ADDITION To THE AGENCY LOAN AMOUNT), CONTINGENT GENT L IT' PARTICIPATION AMOUNT EQUAL TO A PERCENTAGE SHARE OF THE APPRECIATION of THE PROPERTY AS CALCULATED PURSUANT To SEC110N 70 131 FA ► -01 :7i celff i- -1- 9. Sale to Moderate Income Household at Affordable Housing Cos L Dufing the Affordability Period, the Note will not become due and payable, and no o nt i ngon t Equity Participation Amount shall be required hereunder in connection with such sale, i f the Maker sells EXHIBIT B-6 TO ATTACHMENT NO. ] i Promissory Dote DOGS Q11 40067 3 v 141200272-0001