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10.7 % a riable A ppiicable Fac tor) x 10 0,000 ales Price - Purcb ase Pri ce = $10,700 ontingen t Equity Participation Amount). (d) of Contingent Equity Participation Amount for Subsequent H rin eb u a rs. If pursuant to Section 4 of the Agreement, a Buyer has fully assumed the Trustor's obligations under the Agreement, the Note, this Agency Deed of Trust, the Notice of Affordability Restrictions, and the Affordable Housing Resale Res tri Lion, and thereafter the new Buyer, as the successor Homebuyer, is in Ownership Default that causes an event of acceleration to occur, the Contingent Equity Participation Amount to be paid by such Buyer shall be calculated by multiplying the Variable Applicable Factor, established in Section b above} by the difference between the Sales Pricer established in conformity with Section h hereof, and the Purchase Price. (e) No Appreciation or Depreciation in Value of Property. If an event of acceleration occurs at a time when the Property has not appreciated or the value of the Property has depreciated i. . , the Sales Price is less than the Purchase Price), then no Contingent Equity Participation Amount is due by the Tru for to the Beneficiary. (f) Capital Improvements. The value of any Qualified Capital Improvements completed by the Tru s for during the Trusto is ownership of the Property shall be added to the Purchase Price when calculating the Contingent Equity Participation mount only if, not later than thirty (30) days prior to the Event of Acceleration causing the Contingent Equity Participation Amount to become immediately due and payable pursuant to Section 1, Trustor submits the following to the Beneficiary: i an itemized list of the Qualified Capital Improvements, (ii) reliable proof of completion of the u al i fi d Capital Improvements a evidenced e.g., by final building permits} a certificate of completion or original paid invoices or construction contracts), and (iii) an appraisal from a certified appraiser, in form and substance reasonably acceptable to the Executive Director, the conclusion of which is that the Qualified Capital Improvements have added the stated a o u nt to the Fair market value of the Property. If} within days of receipt of the information concerning the Qualified Capital Improvements, the Beneficiary questions the claimed increase in the value of the Property by reason of said Qualified Capital hnpro v men is x the Beneficiary and the Tru s for may, by mutual agreement, establish the value of the Qualified Capital Improvements or the Beneficiary may require an appraisal of the Property, at the Tru s tor' s expense, b a second independent certified appraiser appointed by the Beneficiary to determine the fair market value of the Qualified Capital Improvements. (g) Credit to Tru s tor. Notwithstanding the foregoing provisions of this Section 2, calculation of the Contingent. Equity Participation mount is subject to a superior right of the Tru s tor} to receive credit in calculation of the Purchase Price for money paid by the Tru to r post acquisition and during the terra of the Tru tor' s ownership of the Property for ins talhent payments of mortgage principal, pursuant to the First Dien actually made by the EXHIBIT IT - TO ATTACHMENT ISO. 11 To Deed of Trust with Assignment of Rents Rider to Deed of Trust I O 14(}0673 v 1 4/200 7 2 -0001