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<br />6.1C <br />Page 27 <br /> <br />foregoing, the Deed-Restricted Resale Price shall never exceed the fair market value of <br />the Subject Affordable Unit on the date of Transfer. <br /> <br />(ii) Increased Downffi~vment. Th~ Increased [h:)~D Payment <br />amount shall be equal to Owner's down paYmE3!nt, paid,t~pOn purchase of ,the Subject <br />Affordable Unit, increased by the percentage df)np~~a$e in household income for a <br />family of two (2) at One Hundreg,+wenty perceHtH(:"200!<)) of the median household <br />income. The increase shall be cOf11p~t~Pt;f,rpm the Be~9nring Date to the Ending Date. <br />Median household yearly inyome sh~jJ be~Q,et~rmined;aFPprding to HCD publications <br />published immediately prior to the Begi'rlningl)'~~tl;~pd EncHgg Date, respectively, or if <br />necessary, in the mannersp~cjfied in Secti~n,~p:(bY'Ofi~m;s,.f'greement. <br /> <br />. -.". .,,' '.. <br />.' .'" ..,.. <br /> <br />b. Sales Price Adiustment. The Deed-Restricted Resale Price shall <br />be increased by,the valuepf any suq~tantial structural or permanent fixed <br />improvements which.c~nnot .tJ~,'r~ro,9~ed Wit.n:put substantial damage to the Subject <br />Affordable ,U~it or SLJb~!~c~ti~l. ~()r :totatHlq~~)-?rvalue of said improvements. No such <br />adjustmerlt~m~Up~made~except for imprbvements: <br />'" E :" : . ., ,. ~ "." . .~ ; ,~ ~ <br /> <br /> <br />(r,);~fdehtHnistalled by Owner; <br />',', .., 'i....." '.', '. \ ',' ',..:.:; f~ <br />(ii) approved ih'advance by the City or its designee; and <br /> <br />(iii) whose initial costs were Five Hundred Dollars ($500.00) or <br /> <br />more. <br /> <br />The valUe of such improvements by which the Deed-Restricted Resale <br />Price shall be adjusted when considered as additions or fixtures to the Subject <br />Affordable Unit as determined by an appraisal (e.g., the amount by which said <br />improvements enhance the market value of the Subject Affordable Unit at the time of <br />sale). The adjustment to the Deed-Restricted Resale Price for such improvements shall <br />be limited to the increase in the value of the Subject Affordable Unit, and shall not be <br />based upon the cost of the improvements. The cost of the appraisal shall be paid by <br />Owner. <br /> <br />REDW\0001 \DOC\023~2. DOC <br />11/24/08730 HvT <br /> <br />8 <br />