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At?o?tnt is less than the Note ?t?a?trl#, upon pa?rnent in itll of the Profit ghat"ing ?maunt to the <br />Agency fire Note ?rrrort?it stall be red?rced to veto and slrall be deemed paid in fill, <br />4, Defir?itia?rs, <br />"Profit lrar?ng ??t?ar?rr#}' shall n?ea?l t?ent?r?fi?e percent X25°Io} oftire "Net Profit," ifNet <br />Pr'af"rt is ? posrtl?e rrurrrbet", <br />"Net Profit" t??ea?? the "Cross dales Proceeds" of fhe Fot"-dale Urli?s, less tl?e "Far-dale <br />Units De?relop?trent host,"and less tl?e "For?ale Urrits De?elaprllent Pt?ofit." <br />"Crass dales Proceeds" tneat?s the su?r? of the base sales prices fart the Fot"ale Units, <br />plus tl?e `Net options and Upgrades Proceeds," as defined herein, <br />a, "Net ?ptiarrs and Upgrades Proceeds" is defined as the differe?ice bet???eerr <br />tl?e price paid ?? the p??rclrasers of the Far-dale Units for• "?ptians and Upgt"ades" ?"Crass <br />?ptior?s acrd Upgrades Praceeds"?, less the "?ptiots and Upgrades hosts" fol• the For?ale Utrits, <br />b "?ptians and Upgrades" nreatrs an?r of thaw f ?xtu?`?S c?nd lr?l?ro?rc???ents to <br />the For-Safe U??its ??hicl? ate riot reflected in the Far-Safe Units De?eloptrtent fast and are its <br />excess of the base Fot•-dale Unit. <br />c. ?`Cptiorrs arrd Upgr"ales hosts" is defined as tl?e casts actua?l? incurred b? <br />the ?ot•rouler to pad tl?ird pa?•ties far• the "?ptiorrs acrd Upgt"ades" to the Fat"wale Urrits, inclr?dit? <br />the clra?•ges paid by the Bat•r•a???er to the 13orro??er•'s general contractar?s? at?dlar subcontractors <br />fork tl?e purchase at?dlor installation of "Cptions at?d Upgrades", and the price of `?Optians ar?d <br />Upgrades" paid b? tl?e Bor•ro??rer dit•ectl? to a product ?nanufactu?•et• or distributot•, bt?t anl? if the <br />I?ar•r•o??et" purchases "?ptians acrd Upt"ades" products directly ft•at?? a n?trufactut"er or <br />distributat#, and then otaly pads the contractarslsubcot?tx?actars to install the "options and <br />Upgrades" prod??cts. <br />"For-dale Units Develap?r?et?t host" means tl?e total actual cost to tl?e ?orro??er of <br />pian?iing, designing, financing, canstr?tcting, acid developing Phase FS ??n accardarrce ?v?tl? the <br />pins and peclficatlot?s to be acted ?tpot? ?? tl?e Ager7G? ?? pl`a?rded ltl t??e Agr"eement? t??t•ough <br />tl?? lss??a?lc? of the ?el't?ficate 4f Dccupatrc? fot" each Df the Fot"???? L?nrts, and the costs of <br />canve?ltr the C???pleted Far'-dale Units to harneb?t?et•s. An?? suc?? cans paid to panties related <br />to ?orr•a??ver shall be iitnited to the casts tl?at ??auld have been pa??ab? to ttnt?elated parties far the <br />e?ul?aletrt goods a?ld services. The For•-Sale Units ?e?relopn?et?t Cast sllal? include, but trot be <br />limited ta, the fallo??ing: <br />• Ct•adit? and site pt•epat"atian; <br />• ??rsite and affsite i?npt•o?ernents paid b? ?arr•a?ver ?otl?er tllarl t?lase pall ?'?lth the <br />proceeds of the ?genc? Phase FS Loan}, <br />? onstructiot? cans for the For»Sale Units and related irnprovemet?ts; <br />? A general contt•actar• fee Prot to exceed tiro acrd ot?e-halfpercent {?.5°I?? of ail <br />canstr•?tction casts; <br />? Perfar•mance at?d co?t?pletiari bond prerniut?s; <br />f ,4 AT?'A.??IENT N?. BA??