Determining Sale Price of Affordable. Unit During the Occupancy Period 1. The re-sale price of each Affordable Unit for each subsequent Sale and the amount of any refinancing of any existing deed of trust or new lien from the Affordable Owner shall not exceed the Maximum Resale Price (“Maximum Resale Price” or “MRP”) which shall be determined through use of the formula MRP = (P x F) + V (“Resale Formula”), where: P = the price the Affordable Owner paid for the Affordable Unit; F = the sum of the Ten Year Compound Annual Growth Rates of the AMI from the year of purchase to the year of sale. This function can be described by the following equation:
Appears in 5 contracts
Samples: Affordable Housing Covenant, Affordable Housing Covenant, Affordable Housing Covenant
