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�01106264 (b) the Grantee upon exercising its right of first refusal described above, shall offer to sell each Qualified Unit to any non-defaulting Qualified Tenant then in occupancy for an amount no greater than the amount determined in accordance with Section 42(h)(6)(F) of the Code. In the event neither the Grantee nor Qualified Tenant elects to exercise its respective rights outlined in this Section 7 upon the expiration of the Qualified Project Period, the Authority shall have the option of purchasing the Qualified Unit for an amount determined in accordance with Section 42(h)(6)(F) of the Code. � Upan the Grantee exercising its right of first refusal described above, with respect to any Qualified Unit not purchased by a Qualified Tenant, the Grantee shall continue the achievernent of the Crown Program goals for each such Qualified Unit for a period of 15 additional yeazs and, at the expiration of such a.dditional 15 years, offer to sell each Qualified Unit to the Qualified Tenant then in occupancy. A Qualified Unit sha11 be sold to a Qualified Tenant for an amount equal to $1,000 above the amount determined in accordance with Section 42(i)(7) of the Code, as described above under the right of first refusal. In any sale of a Qualified Unit to a Qualified Tenant (the "Initial Sale") where the fair market value at the time the Initial Sa1e exceeds the sale price to the Qua.lified Tenant (such difference, the "Crown Equity"), the deed transferring title shall conta.in a restriction limiting the proportion of the Crown Equity allocated to such Qualified Tenant in the event the Qualified Tenant resells the Qualified Unit to a third party or entity before such Qualified Tenant ha.s occupied the Qualified Unit continuously for 10 years. The amount of Crown Equity allocated to a Qualified Tenant at the resale by such Qualified Tenant of a Qualified Unit (the "Subsequent Sale") sha11 be determined in accordance with the following formula (to be set forth in any deed at the Initial Sale): (Fair Market Va1ue of Qualified Unit at time of Initial Sale - Purchase price of Qualified Unit at time of Initial Sale} X(Total number of years of occupancy by Qualified Tenant/10) = Amount of Crawn Equity allocated to Qualified Tenant at time of Subsequent Sale. The remaining Crown Equity after allocation to the Qualified Tenant in accordance with the above formula shall be funded to the Authority, which will apply such funds towazd home ownership programs in Grand Island, Nebraska. The Qualified Tenant, however, shall receive any amounts in excess of the Crown Equity attributable to the appreciation in the value of the Qualified Unit from the time of the Initial Sa1e to the time of the Subsequent Sale (the "Appreciation Equity"). The following scenarios outlining the allocation of Crown Equity is provided for purposes of illustration only and not limita.tion: 4840-�52-9929.1 I Z