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• <br />However, if the property is sold during the term of affordability to anon-qualified <br />homebuyer to be used as their principal residence, the net sales proceeds (sales price <br />less selling costs and lst mortgage payoff) or "equity", after repayment, if required by <br />the Note and Deed of Trust, of the initial County contribution, will be divided 50/50 <br />by the seller of the Property and the County. If the initial County contribution does <br />not have to be repaid because the sale occurs more than forty years after the County <br />contribution is made, then the sell of the Property and the County will divide the <br />entire equity realized from the sale. <br />Effective Date: Apri13, 2000 <br />• <br />4 <br />• <br />