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

• Therefore, Homeowner hereby irrevocably assigns to Lessor all net proceeds of sale of the Home that would otherwise have been payable to Homeowner and that exceed the amount of net proceeds that Homeowner would have received if the property had been sold for the Maximum Resale Price, calculated as described in Section 10.5 below.

• CLT may fix the Maximum Resale Price of a defaulting owner’s Residential Unit to the Maximum Resale Price for the Residential Unit as of the date of Default, and in such event, the Maximum Resale Price shall cease thereafter to increase.

• The sale of the Residential Unit shall be completed in accordance with the terms and conditions of this Lease and the Guidelines adopted by CLT as amended from time to time, which procedures may include, without limitation : the payment of the Transfer Fee by such Owner to CLT for such facilitation, the amount of which shall be designated in the Guidelines not to exceed 1% of the Maximum Resale Price; and standard terms for the sales contract.

• The CLT shall be required to permit any mortgage for which the mortgagee has signed a “Standard Permitted Mortgage Agreement” as set forth in “Exhibit E: Permitted Mortgages, Part C,” and for which the loan secured thereby does not increase Homeowner’s total mortgage debt to an amount greater than 100% of the then current Maximum Resale Price, calculated in accordance with Article 10 below.

• Homeowner and CLT recognize that it would be contrary to the purposes of this agreement if Homeowner could receive more than the Maximum Resale Price as the result of the foreclosure of a mortgage.

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 a price not to exceed an amount which would be affordable by an Eligible Purchaser with a family size appropriate to the number of bedrooms in Premises as determined by the Xxxxx County Regional Housing Authority at the time of resale.

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.

Maximum Resale Price means the maximum permitted resale price of the Unit, including the leasehold interest created by this Sublease, as determined pursuant to the provisions of Section 3.7 of this Sublease.