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defined); and (ii) the principal amounts of any other loan(s) or sub idy ie provided by Agency. (ii) The � �Homebu y r Contribution" is the sum of the following amounts contributed by H o m buy r to the purchase price of the Property: i the principal amount of the First Dien purchase money mortgage; i i Ho m buy is cash down payment plus Homebuyer's portion of closing costs; and (iii) the original principal amount of loans(s) or other subsidy i a secured by Hom bu r, (excluding and other than loan or u b sid is provided by Agent set forth in the definition of Agency Contribution)) and applied by Homebu firer towards the purchase of the Property. (iii) The "Purchase Price" is the original purchase price paid by Hom buyer or Ho mebuy r as the qualified successor owner of the Property) to the Seller of the Property ("'Seller") for Seller's interest i n the Property, exclusive of escrow fees, title insurance costs, broker's commissions, loan fees or any other closing or transaction costs. Subject to the provisions set forth h reinb to , the value of Qualified Capital Improvements shall be added to the Pumbase 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 to H o mebu y r (or Homebuy r as the qualified successor owner of the Property for Hom hu er' s interest in the Property, exclusive of reasonable escrow fees, title insurance costs, broker's commissions, loan fees or any other closing or transaction costs. The Sales Price shall be established in conformity with Section 1 h i hereof. In the event of Homebuyer's refinancing, failure to occupy, or default, the "Sales Price" shall be s tab li shed in conformity with Section 1 h ii . (v) The "Affordable Housing Cost Subsidy" is the amount deemed to be a subsidy that Agency has provided to Hom buy r by making 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 market value of the Property (which appraisad shall be t Agency's cost) as of the date of the Agreement and the Affordable Housing Cost. (i) Exception Calculation. Notwithstanding the above, the Variable Applicable Factor shall equal the greater of fifty percent o % or the Variable Applicable Factor calculated pursuant to tion 13(b); pro ide however, in the event Homebufirer receives a First Dien loan from the California Housing Finance Agency or a First Dien loan the source of proceeds of which are from tax exempt bonds, then the Variable Applicable Factor shall equal the Variable Applicable Factor p r en tape calculated pursuant to Section 13(b). (c) Using the Variable Applicable Factor to Determine the Contingent Equity Participation Amount. 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 Participation Amount would then equal 10.7 % (Variable Applicable Factor) X (S Price minus the Purchase Price). EXHIBIT D-1 1 TO ATTACHMENT ISO. 11 Affordable Housing Resale Restriction DO CS DO 14 673 v 14!20027 2 -0001