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Attachment B <br /> <br />· You purchase for property for: <br /> <br />· The outstanding balance on your first mortgage is: <br /> <br />· The City's 2nd Mortgage including deferred interest: <br /> <br />· You keep the property for: <br /> <br />· During that time the media~ income increases: <br /> <br />· The maximum price you can sell for ($176,000 x 115%) <br /> <br />· Your maximum equity share if you sell property: <br /> <br />$176,000 <br /> <br /> 158,000~ <br /> <br /> 17,418~ <br /> 4 years <br /> <br /> 15% <br /> 202,400 <br /> $26,982~ <br /> <br />SB/sy/cf <br /> <br />Assumes initial first mortgage of $160,000 at 8% interest. <br /> <br />Assumes initial second mortgage of $15,018 at 4% deferred interest. <br />Does not include deductions for fees related to the sale of the property. <br /> <br /> <br />