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Right of Repurchase; provided however, that, any subsequent purchaser of the Property from the Owner shall be subject to this Right of Repurchase during the term hereof. Such waiver sha11 not constitute a waiver for any other future Transfer of the Property, including, but not limited to, any future sale of the Property. If the Notice of Waiver is not recorded it shall be presumed that said Right of Repurchase has not been waived. i. Resale bv Habitat or the Citv of Redwood Citv, or the Redwood Citv Redevelonment Agencv. If either Habitat or the City of Redwood City, or the Redwood City Redevelopment Agency exercises the Right of Repurchase, Habitat or the City of Redwood City, or the Redwood City Redevelopment Agency shall again sell or lease the Property to an Eligible Household selected by Habitat. The transfer price established by Habitat or the City of Redwood City, or the Redwood City Redevelopment Agency for such subsequent transfer will be the Eligible Sales Price when Habitat or the City of Redwood City, or the Redwood City Redevelopment Agency exercises its Right of Repurchase and acquires the Property, plus the cost, if any, to improve, repair, maintain, the building/unit and/or bring same within code compliance. Any such subsequent sale of the Property by Habitat or the City of Redwood City, or the Redwood City Redevelopment Agency shall be subject to the Right of Repurchase expressed in this Grant Deed, or such other terms as may be specified in any subsequent Grant Deed from Habitat or the City of Redwood City, or the Redwood City Redevelopment Agency to a subsequent Eligible Household. i. Repurchase Price- Eligible Sales Price. The Eligible Sales Price for the repurchase of the Property by Habitat or the City of Redwood City, or the Redwood City Redevelopment Agency sha11 be the original Purchase Price of the Property when acquired by the Owner from Habitat, adjusted by the percentage change in the median income (adjusted by family size for a family of four, as provided by the U. S. Department of Housing and Urban Development) since the date that the Owner acquired the Property based upon the date of recordation of the deed conveying the Property to the Owner from Habitat, to and including the date that Habitat or the City of Redwood City, or the Redwood City Redevelopment Agency gives its notice of exercise of its option to repurchase, or in the event that this statistical index is no longer published, any other appropriate index as determined by Habitat. In no case however sha11 the increase in the original Purchase Price exceed three per cent (3%) compounded annually, except as provided below for Qualifying Improvements as have been made to the Property by the Owner, which amount shall be added to the original Purchase Price as set forth in subsection k, below. k. Qualifving Improvements. A "Qualifying Improvement" shall be any capital improvement, as opposed to repairs and maintenance, installed by the owner, which satisfies all the criteria set forth below. The value of the Qualifying Improvements shall be limited to a total of ten percent (10%) of the original Purchase Price. The value of the Qualifying Improvements shall be the sum equal to the original cost of materials and labor prorated over the expected useful life of the improvements. It sha11 be the obligation of the owner to establish by sufficient evidence that any improvements is a Qualifying Improvement and the value thereof. Habitat shall have the right to determine the value of any Qualifying Improvement in its sole and absolute discretion. Further, in establishing any value to a Qualifying Improvement, Habitat shall have the right to consider any damage to 5 _ . ., . .. ... _____ __._.. �___ . _