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the Homebu er Assistance Loan Amount and the "Contingent ontin ent Equity Participation Amount," as hereafter defined. (a) of Contingent Equity Participation Amount. The "Contingent Equ it Participation Armo u nt" means an amount equal to a percentage share of the appreciation of the Property determined by multiplying a variable percentage factor ("Variable Applicable Factor") by the difference h e green the Sales Price a and the Purchase Price as those terms are hereinafter defined). (b) Applicable Factor Calculation. The Variable Applicable Factor shall be calculated by dividing the Beneficiary's total initial equity contribution which is deemed to have h een provi ded to Tru s for h as ed on s ale of the Prop erty at an Afford able Hou s ing Cost ("'Agency Contribution") by the sum of the Agency Contribution plus the Trustor" s core tribu t on "Hornebu yer C ontribu ti on"). In other word s, the Agenc y C ontri h u tin s h al l be th e numerator, and the sum of the Agency ontribu tion plus the Hornebu er Contribution shall be the denominator of a fraction that equals a percentage that is the Variable Applicable Factor (subject to Section bi- Variable Applicable Factor = Agency Contribution Agency Contribution + Homebuye r Contribution For example, if the Agency ontribu tion equals $30,000 and the Homeb uyer Contribution equals $250,000, the Variable Applicable Factor would equal 10.7% 0,000 divided by the sum of $30,000 plus $250,000). 10.7 % (Variable A pp] icabie Factor) = $30,000 (Agency Contribution � $30,000 (Agency Contribution) + $250,000 Homeb uye r Contribution) = (0,000 (i) The `'Agency Contribution" is the Burn of the following amounts contributed b Beneficiary to the purchase price of the Property: i the principal amount of the Homebu er Assistance Loan Amount; i.e., the Affordable Housing Cost Subsidy; and (H) the principal amount(s) of any other loans or sub idy ie s provided by Beneficiary. (H) The "Homebuyer Contribution" is the sum of the following amounts contributed by Trust or to the purchase price of the Property: i the principal amount of the First Dien loan; H the Tru for' s cash down payment plus Tru s tor' s portion of closing costs; and (iii) the original principal amount of loans(s) or other sub sid ie s secured by Tru tor, (excluding and other than loan(s) or ubsidies provided by Agency or Beneficiary (as set forth in the definition of Agency Contribution)) and applied by Tru for towards the purchase of the Property. EXHIB YIP C-3 TO ATTACHMENT NO. 11 To Deed of Trust with Assignment of bents Rider to Deed of Tru s t ISO 1400673 v 14/20027 -000 1