80A - JOINT PH - TRANSIT ZONING CODE, FINAL EIR, SPECIFIC PLAN ETC. - ORIGINAL PACKET PROVIDED TO COUNCIL

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defined); and ii the principal amount(s) of any other loan(s) or subsidy ies provided by Agency. (ii) The "Honiebuyer Contribution" is the suin of the following amounts contributed by Homeb zyer to the purchase price of the Property: (i)the principal amount of the First Lien purchase i oney i of gage; (ii) Ho Deb Dyer's cash down payment plus Homebuyer's portion of closing costs; and (iii) the original principal amount t of loans (s) or other subsidy ies secured by Hoy ebuyer, (excluding and other than loan(s) or subsidy ies provided by Agency (as set forth in the definition of Agency Contribution and applied by Hor ebuyer towards the purehase of the Property. (iii) The "Purchase Price" is the original purchase price paid by Hotriebuyer o' Hoi el uyer as the qualified successor owner of the Property) to the seller of the Property "Seller" for Seller's interest in the Property, exclusive of escrow fees, tale insurance costs, broker's comi issio s, loan fees or any other closing or transaction costs. Subject to the provisions set forth hereinbelow, the value of Qualified Capital Improvements shall be added to the Purchase Price when calculating the Contingent Equity Participation Amount. (iv) The "Sales Price" is the price to be paid by the prospective buyer (who is not a qualified Moderate Income Household of the Property ("Buyer") to Hor ebuy r (or Hot ebuyer as the qualified successor owner of the Property for Honiebuyer's interest in the Property, exclusive of rcasonable escrow fees, tale insurance costs, broker's commissions, loan fees or any other closing or transaction costs. The Sales Price shall be established its conformity with Section 13 h i hereof. In the event of Homebuyer's refinancing, failure to occupy, or default, the "Sales Price" shall be established its conformity with Section I3 fi Yr . v The "Affordable Housing Cost Subsidy" is the aniount deemed to be a subsidy that Agency has provided to Ho mebuyer by inal i g the Property available for purchase at a price which constitutes an Affordable Housing Cost, The Affordable Housing Cost Subsidy equals the difference between the appraised fair inarket value of the Property which appraisal shall be at Agency's cost) as of the slate of the Agreement and the Affordable Housing Cost. (i) E Calculation. No vithstanding the above, the Variable Applicable Factor shall equal the greater of fifty percent 0% or the variable Applicable Factor calculated pursuant to Section 13(b); provided however, in the event Homebuyer receives a First Lien loan from the Califon is Housing Finance Agency or a First Lien loan the source of proceeds of which are from tax exempt bonds, them the Variable Applicable Factor shall equal the Variable Applicable Factor percentage calculated pursuant to Section 13(b). (c) Using the vaHable Applicable elui• o etermine the Contingent Equity Particip Pion Anioun . The Contingent Equity Participation Amount is calculated by multiplying the Variable Applicable Factor by the difference between the Sales Price and the Purchase Price. For example, if the Variable Applicable Factor equals 10.7%, the Contingent Equity Par- ticipation Amount would then equal 10.7% (Variable Applicable Factor) x (Sales Price minus the Purchase Price), EXHIBIT I- I I TO ATTACHMENT N. I I Affordable Housing Resale Restriction DOCSOM 400673v 13/200272-0001