DETERMINATION OF MAXIMUM RESTRICTED RESALE PRICE FOR CITY PURCHASE OR RESTRICTED SALE. If the City (or a City Designated Purchaser) exercises the City Option, or if Owner sells to an Eligible Purchaser, the Maximum Restricted Resale Price (the "Maximum Restricted Resale Price") that the Owner shall receive from the City, City Designated Purchaser or Eligible Purchaser (or from any other sale or transfer by the Owner of the Home) shall be the lesser of (i) the Indexed Price of the Home; or (ii) the Fair Market Value of the Home.
Appears in 3 contracts
Samples: Buyer's Occupancy and Resale Restriction Agreement With Option to Purchase, Buyer's Occupancy and Resale Restriction Agreement With Option to Purchase, Buyer's Occupancy and Resale Restriction Agreement With Option to Purchase
DETERMINATION OF MAXIMUM RESTRICTED RESALE PRICE FOR CITY PURCHASE OR RESTRICTED SALE. If the City (or a City Designated Purchaserits assignee) exercises the City Option, or if Owner sells to an Eligible Purchaser, the Maximum Restricted Resale Price (the "" Maximum Restricted Resale PricePrice ") that the Owner shall receive from the City, City Designated Purchaser or Eligible Purchaser (or from any other sale or transfer by the Owner of the Home) shall be the lesser of (i) the Indexed Price of the Home; or (ii) the Fair Market Value of the Home.
Appears in 1 contract
Samples: Buyer's Occupancy, Refinancing and Resale Restriction Agreement With Option to Purchase
