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At~o~tnt is less than the Note ~t~a~trl#, upon pa~rnerrt 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'afrt is ~ posrtl~e rrurrrbet", <br /> "Nei Profi#" t~~ea~~ the "Cross dales Proceeds" of the Fot"-dale Urli~s, less tl~e "Far-dale <br /> Units De~elop~trent dos#,"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 ~p#ions 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 For-dale Units for• "~ptians and Upgt"ades" ~"Crass <br /> ~ptior~s acrd Upgrades Praceeds"~, less the "~ptiots and Upgrades fasts" fol• the For~ale Utri#s, <br /> b "~ptians and Upgrades" nreatrs an~r of thaw fixtut~es and rr~lpro~ret~~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 and Upgr"ales hosts" is defined as tl~e casts actua~l~ incurred b~ <br /> the ~ot•rouler to pad third 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 l~orro~~er•'s general contractar~s~ at~dlar subcontractors <br /> fork the purchase at~dlor installat~an of "Cptions at~d Upgrades", and the price of `~Optiar~s 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 dirertl~ ft•at~~ a rr~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 pecrficatlot~s to be acted ~tpot~ the Ager7c~ as pra~rded rtr t~~e Agreements t~~t•ough <br /> the lssua~lcc of tl~e ~ert~ficate of Dccupatrc~ fot" each of the Fat"Sale L~nrts, and the costs of <br /> canve~rtr the cot~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 that ~~auld have been pa~~ab~ to ttnt~elated parties far the <br /> e~ul~aletrt goods acid services. The For-Sale Units ~e~relopt~er~t Cast shah include, bu# 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 blase pall ~~rth the <br /> proceeds of the ~genc~ Phase FS Loan}, <br /> ~ onstructiot~ cans fora the For»Sale Units and related improvements; <br /> ~ A general contt•actar• fee Prot to exceed tiro acrd ot~e-halfpercent {~.5°I~~ of <br /> all <br /> canstr•~tction cans; <br /> ~ Perfar•mance at~d co~t~pletiari borxd prerniut~s; <br /> AT~'A,~~IENT N~. BA~~ <br /> <br /> DOCSOCII ~~~673v~3~~~0~72'V~O 1 <br /> <br />