Maximum Resale Price definition

Maximum Resale Price means the maximum purchase price that may be paid by any purchaser of a Unit, other than the initial purchaser who acquires the Unit from Declarant, that is determined in accordance with the provisions of Article 6 of this Covenant. The Maximum Resale Price is not a guaranteed price, but merely the highest price an Owner may obtain for the sale of the Unit.

Maximum Resale Price means the Purchase Price paid by the last Qualified Buyer plus: an increase of 1.5% per annum of such Purchase Price (prorated at the rate of 1/12 for each whole month) from the date of Owner's purchase of the Property to the date of the Owner's execution of the listing contract, such percentage increase to not be compounded annually; and the value of Permitted Capital Improvements.

Maximum Resale Price is the maximum resale price of a For-Sale Affordable Unit as determined pursuant to the procedures contained in Schedule 3 attached hereto.

Examples of Maximum Resale Price in a sentence

• Except for the original Purchase Money Mortgage, no Owner shall not encumber a Unit, exclusive of interest, in any form(s) which exceeds, in total, at any time, an amount in excess 95% of the Maximum Resale Price paid, as calculated at the time of the encumbrance.

• The Maximum Resale Price is not a guaranteed price, but merely the highest price an Owner may obtain for the sale of the Property.

• The Maximum Resale Price for purposes of this Section shall be the lesser of: i) what the Maximum Resale Price would have been for the Unit if the Unit was still owned by the last Qualified Owner to own the Unit, or ii) the amount paid by the Non- Qualified Transferee to acquire title to the Unit.

• No Owner-Seller shall permit any prospective buyer to assume any or all of the Owner’s customary closing costs or accept any other consideration which would cause an increase in the sale price above the Maximum Resale Price.

• Units shall NOT be sold, transferred, and/or conveyed (1) to any person(s), entity, or entities other than a Qualified Owner, as defined in Article II and as approved by YVHA; (2) for consideration to be paid by such Qualified Owner that exceeds the Maximum Resale Price as such is determined pursuant to the provisions of this Article; or (3) without listing the Unit for sale through YVHA.

More Definitions of Maximum Resale Price

Maximum Resale Price has the meaning given in Article V.E.1.

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:

Maximum Resale Price. Upon the CLT’s determination of the Maximum Resale Price, the sale of the Residential Unit shall be facilitated by the CLT. The sale of the Residential Unit shall be completed in accordance with any applicable procedures set forth herein and with any Guidelines adopted by the CLT from time to time. In the event the provisions of this option shall, for any reason, become unenforceable, the Lessor shall nevertheless have a right to first refusal to purchase the Residential Unit at the highest documented bona fide purchase price offer made to the Lessee. Any sale or transfer contrary to this Section, when applicable, shall be null and void. The Ground Lease shall terminate upon conveyance of the Residential Unit to the Lessor. The restrictions and conditions of the Ground Lease, and any conditions and restrictions set forth in an Exhibit to the Ground Lease are essential to the fulfillment of the purposes of the Lessor and are conditions and restrictions on the use of the Leased Land intended to run the full term of the Ground Lease.

Maximum Resale Price means the total estimated retail price for the Eligible Surface Products less the value of the applicable rebate.

Maximum Resale Price means that maximum Purchase Price that shall be paid by any purchaser of the Property, other than the initial purchaser who acquires the Property from Developer, as determined in accordance with the provisions of Section 3.3

Maximum Resale Price means the maximum Purchase Price that shall be paid by any purchaser of a Restricted Home, other than the initial purchaser who acquires the Property from Maggie Placer that is determined in accordance with the provisions of Section 8.3 of this Restriction. The Maximum Resale Price is not a guaranteed price, but merely the highest price an Owner may obtain for the sale of the Property.

Maximum Resale Price means the maximum amount a for‐sale inclusionary unit may be sold, except for the initial sale of the inclusionary unit, as provided in Chapter 20.380 Section 20.380.006(F) of the Inclusionary Housing Regulations.