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plus tt~e omel~~~#'s ~o~•tion a~' closil~ costs and ~tii) the or'rllrl principal alnaunt of loa~ls~~~ <br /> or' other subsidy~ies~ secured by Hon~ehr~yea{~ ~e~eludin any other than loan~s~ or• subsidy~ies} <br /> pro~lded by the Agency {as set for~ll rrl the d~f~llltlon of Agency orrtrib~~tion~~ at~d applied by <br /> the I~olnebuyer• to~~ards the pr~~•chae of tl~e Property. <br /> ~iii~ The "purchase Price" is the al,iin~I purchase price paid l~~T <br /> the I~or~rebuyer• ~ol• tl~e Hol~eb~~yer as tl~e qualified successor o~~ner• of the Property} to the seller <br /> of tl~e Property the "Seller"~ ~ener'ally t~~is alr~ount shall be egr~al to tl~e origilral fair market <br /> value of the Prope~•#y at the tiirle of tl~e initialloriinal sale of the P1•opel•ty by the Developer to <br /> the flornebuyer•} for• the Se~le~•'s interest in the Pro~~cr~ya exclusive of escro~~ fees, title ilrsur'anc <br /> costs broker's cot~~lrlissions, loan fees or• alry other' elosing ol• tl•ansactio~~ costs Sr~~bect to tl~e <br /> provisions set forth lrel'einbelo~v, the ~alr~e of qualified capital Irnpro~et~elits shall be added to <br /> the Purchase Price lrer~ calc~~latin tl~e ont~~~ent equity Participatiol~ Amount, <br /> Div} The "Sales Price" is tl~e px~ice to be paid by tl~e prospective <br /> buyer` ~~vho rs lrot a goal ~fied Moderate Ineor~~e Hous~hald} of the Propelty {tile "Bud+el•"~ to the <br /> I~.ol~rebuyer ~ol• tl~e ~ornbr~yer as the qualified successor o~~rner of <br /> ~lre Priopetty~ fot• the <br /> Ho~~~ehrryer's il~tel'est ill the Propertys exclusi~~e of zeasax~able esc~•a fees, title insr~rance costs, <br /> l~rokel•'s cotr~lrlisiorts, loalr fees or any other; closilr ol• t~'ansactio~~ costs Tl~e Sales Price shall <br /> be established in confo~~t~~ity ~itl~ Sectiol~ 3,~~a} Irereof, In the everrt of the I~ol~~ebuyer's <br /> r'efi~ralrcit~g, fall~~re to occupy, ork default, the {`Sales Price" shall be cstablislled by appi•aisa~ paid <br /> for by tl~e Plamehuyer ilr corrforrnity ~ritl~ Section ,~b~~ <br /> The "Affordable Housing fast Sr~bsidy" is the an~ar~nt <br /> deelrred to be a subsidy from the Ael~cy pra~ided to #lre I-Ior~ebl~yel' by rrraking tl~e Property <br /> available for pulchase at a price that col~titutes alp Affordable I~ousir~g host for• the Harnebuyer• <br /> as a Moderate Income Ilo~~selrold~ The Affordable Ho~~sing host Subsidy egr~als the di~`ference <br /> bet~~eerl the appraised falr l~larket val~ze of tl~e Property a~ad the Affoldable Plousi~~g fast of the <br /> Pl•aper•ty, <br /> ,Z Clsiirg f~Ye Vat•iabie App~ieab~e Fae~ar #n I]cferr~]irie ~hc nn~itigelit <br /> equity ~'a~'ticipa#lUll AIYro~lllf, Tl~e ontilrgent Egr~ity ~'articipa#ion Ar~ot~nt is calculated by <br /> mr~ltiplyin the Variable Applicable Factor by the differe~~ce between the Sales Price at~d the <br /> Pur•ehase Priee. For example, if the Variable Applicable Factor equals I4,~~/0, tl1e ol~ti~rgent <br /> Equlty Participatiol~ Alr~or~nt would then egrlal I D,?~/o ~~ariable Applicable ~".ctor~ x Sales <br /> Price minr~s the Purchase Price. <br /> a. In the above example, if the Sales Price Ito occur ~#pon resale not <br /> colrfor•lnin to Section equals 8~,00o and the Purchase Price eq~~als ~S~,oo~, the <br /> or~tinent equity Par•trcrpatloll Alno~~l~t ~ratzld egr~al l ~,?00 ~IO~'7~Io x ~380,~~D minus <br /> X0.7°l0 ~V~ri~b~~ Applirahl~ T~~ta~~~ x 1~~,~~U ~S~le~ Pri~~ - P~~~~clr~se P~{ire} - ~1~,7~0 <br /> (ollfinge~~t ~qui~y Pa~•~~cipatfon A~tloullf~, <br /> ATTAH~I~T~~, l I»? <br /> Forrrr of flomeb~~yer Load Agr•eer~lent <br /> <br /> DOC~~C~~ ~~4G7vt 12~~272-~~~1 <br /> <br />