Further Encumbrance. The recordation of any deed of trust (a "Further Encumbrance") securing a note having an original principal sum which, when added to the sum of the principal amount(s) of any notes secured by any deeds of trust against the Affordable Unit as of the date of recordation of the Further Encumbrance, exceeds the appraised value of the Affordable Unit.
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Sources: Disposition and Development Agreement, Affordability Restrictions Implementing Health and Safety Code Section 33413