Common use of Purchase Price for Elected Property; Reduction and Credits Clause in Contracts

Purchase Price for Elected Property; Reduction and Credits. The ---------------------------------------------------------- purchase price for the Elected Property will be equal to 80% of the fair market value of the Elected Property, as agreed to by Owner and Holder or, failing their agreement, as determined in accordance with Section 6. But the purchase price will be reduced by the total costs (including attorneys' fees) that Holder incurs in connection with the purchase and sale of the Elected Property, to the extent that those costs exceed the costs that Holder would have incurred if Holder had purchased the Elected Property after Holder's exercise of the Right with respect to a Tendered Agreement for Owner's sale of the Elected Property. If Holder elects to buy the Elected Property subject to the Lien that was the subject of the Lien Enforcement Notice, Holder will receive a credit against the purchase price for the Basic Loan Balance as of the date that Escrow closes. If Holder elects to buy the Elected Property subject to a lien that secures a monetary obligation other than the Secured Obligation that was the subject of the Lien Enforcement Notice, Holder will receive a credit against the purchase price for the unpaid balance of that monetary obligation as of the date that Escrow closes.

Purchase Price for Elected Property; Reduction and Credits. The ---------------------------------------------------------- purchase price for the Elected Property will be equal to 80% of the fair market value of the Elected Property, as agreed to by Owner and Holder or, failing their agreement, as determined in accordance with Section 6. But the purchase price will be reduced by the total costs (including attorneys' fees) that Holder incurs in connection with the purchase and sale of the Elected Property, to the extent that those costs exceed the costs that Holder would have incurred if Holder had purchased the Elected Property after Holder's exercise of the Right with respect to a Tendered Agreement for Owner's sale of the Elected Property. If Holder elects to buy the Elected Property subject to the Lien that was the subject of the Lien Enforcement Notice, . Holder will receive a credit against the purchase price for the Basic Loan Balance as of the date that Escrow closes. If Holder elects to buy the Elected Property subject to a lien that secures a monetary obligation other than the Secured Obligation that was the subject of the Lien Enforcement Notice, Holder will receive a credit against the purchase price for the unpaid balance of that monetary obligation as of the date that Escrow closes.