Laserfiche WebLink
Tru tor, in addition to the fair market value of Qualified Capital I pro veme n is core i stmt with <br />the requirements of Section 2(f) hereof. <br />(h) Determination of Sales Price; Appraisal. <br />(i) Upon Sale of the Property. In the event of a proposed sale of the <br />Property by Tru s for that does not conform to Section 3 herein, and not less than thirty days <br />after Beneficiary r c i ire t u al notice of the opening of escrow in connection therewith, the <br />Beneficiary may elect to appoint a certified, independent appraiser to conduct an appraisal of the <br />Property, at Trustor" s expense, to assist Beneficiary in de term i n in g if the S ales Price is. at or n car <br />the fair market value of the Property at such time. If the Sales Price is determined by the <br />appraisal to be three percent (3%) or more below the Fair market value of the Property as <br />estimated in said appraisal, then the "'Sales Price}' for purposes of determining the Contingent <br />Equity Participation Amount shall be the fair market value of the Property established in said <br />appraisal. <br />(ii) Upon retina ncin g Failure to Occupy/Default. In the event of <br />refinancing, failure to occupy the Property in accordance with Section 7 of the regiment, or an <br />Ownership Default which causes the Note Amount including the Contingent Equity Participation <br />Amount to become immediately due and payable, the "`Sales Prig" for purposes of determining <br />the Contingent Equity Participation Amount shall be determined b y an appraisal of the Property. <br />The Beneficiary shall appoint a certified independent appraiser to conduct an appraisal of the <br />Property, at the Trustor's expense. The Trustor agrees that in such event the Contingent Equity <br />Participation Amount shaJI be the Variable Applicable Factor multiplied by the difference <br />between the Purchase Pri ec and "'Sales Prie e* � as established by the appraised value of the <br />Property at the time of such refinancing, failure to occupy, or other Ownership Default f the <br />Agreement. <br />(i) Trustor's Acknowledgment of Contingent Equity <br />Participation Amount. <br />TRUST TRUSTOR ACKNOWLEDGES AND AGREES THAT UPON <br />ALE, TRANSFER, OR REFINANCING F THE <br />PROPERTY THAT DOES NOT COMPLY WITH SECTION <br />J HEREIN, AND /Old UPON ANY OTHER DEFAULT THAT <br />CAUSES AN EVENT OF ACCELERATION AS SET FORTH <br />IN SECTION I. I RIE F, PRIOR TO THE F T - FIF]PH <br />(45th) ANNIVERSARY OF THE RECORDATION DATE OF <br />TMS AGENCY DEED OF TRUST, T, T U TOR SHALL PAY <br />TO BENEFICURY IN ADDITION TO THE AGENCY <br />LOAN AMOUNT, A CONTINGENT EQUITY <br />PARTICIPATION AMOUNT E AL TO A PERCENTAGE <br />HARE OF THE APPRECIATION OF THE PROPERTY T' A <br />CALCULATED PURSUANT TO THIS SECTION 2. <br />Trr tor's Initials: <br />EXHIB YF C-6 TO ATTACHMENT NO. I 1 <br />To Deed of Trust with Assignment of bents <br />Rider to Deed of Trust <br />DoO 14 00673 v 14 /20027 2-0001 <br />