7. (1) In this section, “accumulated rate of inflation” is calculated using the monthly, all items consumer price index published for the Toronto census metropolitan area by Statistics Canada and is determined as follows:  where CPI(A) = the consumer price index for October, 1993, CPI(B) = the consumer price index for the second month prior to the time of sale of the lease. O. Reg. 817/93, s. 7 (1). (2) Revoked:  O. Reg. 362/96, s. 3 (1). (3) The purchase price for a land lease under subsections 17 (5), 19 (11), 21 (5) and (6) and sections 22 and 23 of the Act is the adjusted purchase price calculated as follows: Ap =  × [1–1.00022(–36159 + D)] × I where Ap = the adjusted purchase price, Payment =  the payment calculated for a 99-year land lease based on the original purchase price for a land lease under subsection 17 (3) of the Act at an 8 per cent interest rate, assuming a conventional lease of equal annual blended principal and interest, D = the number of days after the proclamation of the Act, I = the accumulated rate of inflation. O. Reg. 346/08, s. 1 (1). (4) Despite subsection (3), the purchase price for a land lease under subsection 17 (5) of the Act to an owner who meets the age and need requirements set out in section 6 is the adjusted discounted purchase price calculated as follows: Ar =  × [1–1.00022(–36159 + D)] × I where Ar = the adjusted discounted purchase price, Payment =  the payment calculated for a 99-year land lease based on the original discounted purchase price for a land lease under subsection 17 (4) of the Act at an 8 per cent interest rate, assuming a conventional lease of equal annual blended principal and interest, D = the number of days after the proclamation of the Act, I = the accumulated rate of inflation. O. Reg. 346/08, s. 1 (1). (5) The proceeds from the sale of a land lease under subsections 21 (5) and (6) and section 22 of the Act or from the sale under subsection 23 (2) of the Act of a land lease referred to in clause 23 (1) (c) of the Act shall be distributed as follows: 1. The vendor or the estate of the deceased owner is entitled to receive an amount calculated as follows: [0.6 × × (36159 – Ds)] + (0.4 × Ap
) where Pp = the purchase price for land lease as paid by the owner, Dp = the number of days from the date of proclamation of the Act to the date of purchase by the owner, Ds
= the number of days from the date of proclamation of the Act to the date of sale by the owner, Ap = the adjusted purchase price as calculated under subsection (3). 2. The City of Toronto is entitled to receive the remainder of the proceeds.  O. Reg. 817/93, s. 7 (5); O. Reg. 362/96, s. 3 (2, 3); O. Reg. 346/08, s. 1 (2). (6) Despite subsection (5), if the vendor is an individual who purchased the land lease at a discounted or adjusted discounted purchase price under subsection 17 (4) or (5) of the Act, the proceeds from the sale of a land lease under section 22 of the Act or from the sale under subsection 23 (2) of the Act of a land lease referred to in clause 23 (1) (c) of the Act shall be distributed as follows: 1. The vendor or the estate of the deceased owner is entitled to receive an amount calculated as follows: [0.6 × × (36159 – Ds)] + (0.4 × Ar) where Pr = the purchase price for land lease as paid by the owner, Dp = the number of days from the date of proclamation of the Act to the date of purchase by the owner, Ds = the number of days from the date of proclamation of the Act to the date of sale by the owner, Ar = the adjusted discounted purchase price as calculated under subsection (4). 2. The City of Toronto is entitled to receive the remainder of the proceeds.  O. Reg. 817/93, s. 7 (6); O. Reg. 362/96, s. 3 (4) ; O. Reg. 346/08, s. 1 (3). (7) The proceeds from the sale under subsection 23 (2) of the Act of a land lease referred to in clause 23 (1) (a) or (b) of the Act shall be distributed in accordance with subsection 17 (11) of the Act.  O. Reg. 817/93, s. 7 (7). (8) The payment required under subsection 21 (7) of the Act shall be calculated as follows: (0.6 × Ap) – [0.6 × [] × ( 36159 – Ds )] where Pp
= the purchase price for land lease as paid by the owner, Dp
= the number of days from the date of proclamation of the Act to the date of purchase by the owner, Ds
= the number of days from the date of proclamation of the Act to the date of sale by the owner, Ap = the adjusted purchase price calculated under subsection (3). O. Reg. 346/08, s. 1 (4). (9) The Trust shall transfer the payment received under subsection (8) to the City of Toronto.  O. Reg. 817/93, s. 7 (9); O. Reg. 362/96, s. 3 (5). (10) Despite subsection (8), the payment required under subsection 21 (7) of the Act, if the deceased owner was an individual who purchased the land lease under subsection 17 (4) or (5) of the Act at a discounted or adjusted discounted purchase price, shall be calculated and paid in the following manner: 1. The Trust shall transfer the following amount to the City of Toronto:  where Ap = adjusted purchase price calculated under subsection (3), Ar = adjusted discounted purchase price calculated under subsection (4). 2. The Trust shall also transfer the following amount to the City of Toronto: (0.6 × Ar) – [0.6 × [] × (36159 – Ds )] where Pr = the purchase price for land lease as paid by the owner, Dp = the number of days from the date of proclamation of the Act to the date of purchase by the owner, Ds = the number of days from the date of proclamation of the Act to the date of sale by the owner, Ar = the adjusted discounted purchase price calculated under subsection (4). O. Reg. 817/93, s. 7 (10); O. Reg. 362/96, s. 3 (6); O. Reg. 346/08, s. 1 (5). (11) The vendor is entitled to the proceeds from the sale of a house under section 22 of the Act and the sale under subsection 23 (2) of a house referred to in clause 23 (1) (b) of the Act.  O. Reg. 817/93, s. 7 (11). (12) The Trust is entitled to the proceeds from the sale under subsection 23 (2) of the Act of a house referred to in clause 23 (1) (a) of the Act.  O. Reg. 817/93, s. 7 (12). (13) The estate of the deceased owner is entitled to the proceeds from the sale under subsection 23 (2) of the Act of a house referred to in clause 23 (1) (c) of the Act.  O. Reg. 817/93, s. 7 (13). (14) Despite this section, the proceeds from a sale to which a vendor or estate of a deceased owner would otherwise be entitled shall firstly be distributed by the Trust in payment to any mortgagees, chargees and lien holders according to their priorities.  O. Reg. 800/94, s. 1. (15) In a sale under subsection 23 (2) of the Act in respect of a deceased owner, the distribution under subsection (14) shall be in relation to those mortgages, charges and liens outstanding immediately before the death of the deceased owner.  O. Reg. 800/94, s. 1.