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10.7% (Variable Applicable Factor) x 100,000 (Sales Price — Purchase Price ) = $10,700 (Contingent <br />Equity Participation Amount), <br />(d) Calculation of Contingent Equity Paietieipa i n Amount for <br />Subsequent Homebuyers. If p_ ursuan Section 4 of the Agreement, a Buyer has fully <br />assumed the Trustor's obligations under the regime n , the Note, this Agency Deed of Trust, the <br />Notice of Affordability Restrictions, ns, and the Affordable Housing Resale Restriction, and <br />thereafter the new Buyer, as the successor Homebuyer, is in Ownership Default that causes all <br />event of acceleration to ccur, the Contingent Equit. Participation Amount to be paid by such <br />Buyer shall he calculated by multiplying the variable Applicable Factor, established ill <br />Section 2 above, by the difference bet ween the Sales Price, established its conformity with <br />Section 2(h) hereof, and the Purchase Price. <br />(e) No Apps -e lation oi• Depreciation in Value of Pi- p fty, If an event of <br />acceleration occurs at a time when the Property has not appreciated or the value of the Property <br />has depreciated (i.e., the Sales Price is less than the Purchase Price), then no Contingent Equity <br />Participation Aniount is due by the Trust or to the Beneficiary. <br />(f) Qualified Capital Impi4ovenients. The value of any Qualified Capital <br />Improvements completed by the Trust or during the ` rust is ownership of the Property shall he <br />added to the Purchase Price when calculating the Contingent Equity Participation Amount only <br />if, not later than thirty days prior to the Event of Acceleration causing the Contingent Equity <br />Participation Amount to become immediately due and payable pursUant to Section 1, Trustor <br />submits the following to the Beneficiary: i are itemized list of the Qualified Capital <br />Improvements, H reliable proof of completion of the Qualified Capital Improvements s <br />evidenced e.g., by final building permits, a certificate of completion or original paid invoices or <br />construction contracts), are (iii) an appraisal from ertif led appraiser, in form and substance <br />reasonably acceptable to the Executive Director, the conclusion of which is that the Qualified <br />Capital Improvements ents have added the stated amount to the fair market value of the Property. <br />If, within 3 days of receipt of the information concerning the Qualified Capital <br />Improvements, the Beneficiary questions the claimed increase its the value of the Property by <br />reason of said Qualified Capital Improvements, the Beneficiary ' and the Truster may, by mutual <br />agreement, establish the value of the Qualified Capital Improvements or the Beneficiary i s <br />require an appraisal of the Property, at the Tres is expense, second independent certified <br />appraiser appointed by the Beneficiary to etermine the fair market et valLIC of the Qualified <br />Capitol Improvements. <br />(g) Credit to Tt- tistor. Notwithstanding standing the foregoing provisions of this <br />Section 2, calculation of the Contingent t uit Participation Amount is subject to a superior <br />right of the 'Trustor, to receive credit its cal ulati n of the Purchase Price for money paid b y the <br />Trust r post acgUisition and during the tern of the Trust is ownership of the Property for <br />installment payments of mortgage principal, pursuant to the First Lien actually made by the <br />EXHIBIT C-5 TO ATTACHMENT No. f I <br />To Deed of Trust with Assignment of Rents <br />Rider to Deed of Trust <br />IosA 4007N, 131200272-0001 <br />