RecDoc1999-207282 1205 Warren Ave.

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111111111111111111iiumuiii oPage: 7 of 19 amm��e;=a= which City or its assignee received the Notice of Intended Transfer required by Section 6 above (the "Ending Date"). Median household yearly income shall be determined according to HCD publications published immediately prior to the Beginning Date and Ending Date, respectively, or if necessary, in the manner specified in Section 8 of this Resale Agreement. (ii) INCREASED DOWN PAYMENT: The Increased Down Payment amount shall be equal to Owner's down payment, paid upon purchase of the Unit, increased by the percentage of increase in household income for a family of four at one hundred percent (100%) of the median household income. The increase shall be computed from the date on which the Owner originally purchased the Unit to the date on which City or its assignee received the Notice of Intended Transfer, as required by Section 6 above. Median household yearly income shall be determined according to HCD publications published immediately prior to the Beginning Date and Ending Date, respectively, or if necessary, in the manner specified in Section 8 of this Agreement. b. SALES PRICE ADJUSTMENT: The Deed -Restricted Resale Price shall be increased by the value of any substantial structural or permanent fixed improvements which cannot be removed without substantial damage to the Unit or substantial or total loss of value of said improvements. No such adjustment shall be made except for improvements: (i) made or installed by the Owner; (ii) approved in advance by Agency or its designee; and (iii) whose initial costs were Five Hundred Dollars ($500.00) or more. The value of such improvements by which the Deed -Restricted Resale Price shall be adjusted shall be the appraised market value of the improvements when considered as additions or fixtures to the Unit as determined by an appraisal (e.g., the amount by which said improvements enhance the market value of the Unit at the time of sale). The adjustment to the Deed -Restricted Resale Price for such improvements shall be limited to the increase in the value of the Unit, and shall not be based upon the cost of the improvements. The cost of the appraisal shall be paid by Owner. The Deed -Restricted Resale Price shall be decreased by an amount necessary to repair any damages and to put the Unit into a "sellable condition". Items necessary to put a Unit into sellable condition shall be determined by Agency, and may include cleaning, painting, and structural, mechanical, electrical, plumbing, and other deferred maintenance repairs. 10. TRANSFER BY OWNER In the event Agency does not exercise its option to purchase pursuant to Section 7 above, or assign that right, the Owner may Transfer the Unit to a person (the "Proposed 7