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~ar~dslrip, At the req~~est of Hameb~zyeti, a~~d far' a specific accasior~, Agency <br /> n~a~, in its sale at~d absal~~te discretion, ix~ ~~t"l~rrl 1~~€V~ t~l~ req~~i1•em~t of ectlarr 1l, <br /> s~rbparagrapil ~h~ arrd defer repayment a~~dlar extend the terra of tl~e date, Any ~~ai~er ar <br /> deferrnerlt shall be on ~ ease«~~-case basis, and rla future x~igi~ts far' 4~ai~e~i or deferment si~all <br /> arise or be i~~rplied, at4~ithstaridit~g the foregoing, Horneb~ryer' rnay, r~pan ~~~ri#ten approval by <br /> Agency, r'efinat~ce ably ~lr'st Lien ~~lth a fixed rate loan for a loan ar~lou~~t equal to ar less than tine <br /> then c~lrrent laari balance secured by such First Lien with rla reduction ire term, <br /> 1~, o1r#irlerl~ equity Par4#ic~pa#iarY Anlour~#, In tl~e e~e~~t ti~at the ~.otrrebuyer <br /> Assistance Laarr becomes due acid payable pl~rsuant to Section 11{h~ above, Horrlebtlyer• si~aii <br /> pay to A.enc~~ fire ~~rhole of fire l~or~~ebu~rer• Assistance Loan ar~d the "Corrtit~ent Eci~rity <br /> participtlorl Atrrourrt," as lre~'ei~~af~er defi~red. <br /> ~a~ alculattor~ of OI1~iIl~~1l~ Eq~lit~t ~ax`~icipa~iotl Atnolrr~#, The <br /> "Contingent ~~uity Part~crpatfor~ A~t]our~t" rnea~~s ate arr~aurit egt~ai to a percentage share of file <br /> appr'ecratlaz~ of tl~e Pr'ope~•t~ deter"rnirred b~ t~ultiplyir~g a ~ar'iable perce~~tae factor• ~"~a1'iable <br /> Applicable Factor"~ b}r the difference bet~~~een fire Sales 1'x~ice and the pu~•chase Price has tease <br /> ter'~ns a~•e hereilla~e~• defined}. <br /> fib} ~ar~iable Applicable Fac~or~ Calcrrta~iorl, ~'he variable Applicable <br /> Factor slrali be calculated by di~idirrg fire Agency's fatal it~itia~ eclrrity cont~~ibutiar~ based ors sale <br /> of tine Froper•t~ to Hanrebuyetk at art Affo~•dablc Housing Cost ~"Aene~ Contt4ibutian"} by ttae <br /> sure of file Aetrcy Cor~tr~lbutior~ plus Horrreb~~ye~~'s cantr~ibutio~a {"Homebuyer4 Co~~trihrrtion"~, <br /> In o#i~er~ ~~ards, tl~e Agency Corlt~•ibutian shall be the rrurnerator•, a~ad fire surrr of the Agency <br /> Corrtrib«tion plr~s tine ~a~r~ebt~yer Cor~tr~b~~tion shall be tl~ denarninator• of a fraction tirat eq~~als <br /> a percentage teat is the ~1a~•iable Applicable Factor' ~s~l~b~ect to ectiorr ~l 3~b}~i}}, <br /> ~'~ri~ble Ap~licabl~ ~+ac#or= A ~Ilc C~~rtrib~~tion <br /> A~eticy ol~tx~ibutio~~ + Hameb~~s~er Co~~trib~~fion <br /> For exatr~ple, if fire Agency Con#riibr~tion e~~zals and the ~o~r~ebrryer <br /> Cor~tr~ib~ztion e~~ral ~S~,o~4, the variable Applicable Factor ~~ould equal la~'7°Io {0,000 <br /> divided by the sum of~0,o00 plr~ ~50,000~. <br /> ~.0~~~/0 ~'~~~i~hle Applicable i~'acto~•} - 3~ ~il~ A ei~c ~ Can~ributio~~ <br /> ~0,0~~ ~~gency Col~tr~iblitio~~} ~ ~5~,~00 ~~vntel~uye~• <br /> ~o~~ti~ibutian} - ~28~,~0~} <br /> ~i~ `~i~e`Agency Cot~tr~r6utrari" is the sure of fire falla~~ing amounts <br /> contributed by Agency to tine pur~chse pace of fire Fr'ope~-t~r; fit} principal an~or~nt of file <br /> Harrrebt~yer• Assistance ~,oan Arnout~t, i~e., the Affo~•dable Ha~rsrrlg Cost Sl~bsldy ~as he~•einaf~er <br /> l~~~lll~l`l' l]-la T~ AT~'ACI~N~N~' N~, l l <br /> Affordable Holrsing resale l~estr•ictiorr <br /> <br /> ~4~D~1~ ~~~~~~4'~ <br /> <br />