Indexed Value Sample Clauses

Indexed Value. The Indexed Value at any time is guaranteed to equal:

Indexed Value. The Indexed Value of the Home means the sales price of the Home at the time of purchase by the Owner, as set forth on page 1 of this Agreement (the "Owner's Base Price"), increased by the percentage of increase in the Median Income from the date of the original purchase of the Home by the Owner to the date of receipt by the City of the Owner's Notice of Intent to Transfer. "Median Income" shall refer to the median yearly income, adjusted for a household size of four, in Monterey County, as published by the California Department of Housing and Community Development (“HCD”), or, in the event such income determination is no longer published by HCD, or has not been updated for a period of at least eighteen (18) months, the City may use or develop such other reasonable method as it may choose in order to determine the annual median income in Monterey County. Where applicable, the Indexed Price shall include an upward adjustment reflecting the value of any substantial structural or permanent fixed improvements which the Owner has made to the Home after Owner's purchase of the Home. No such adjustment shall be made except for improvements: (a) made or installed by the Owner or Owner's contractor which conformed with applicable building codes at the time of installation; (b) which extends the useful life or improves the functionality of the Home; (c) approved in writing in advance by the City or its designee; and

Indexed Value. The Indexed Value of the Property means the original price paid by the Owner for acquisition of the Property, which the Parties agree is the sum of sale amount written 00/100 Dollars ($000,000.00) (the “Base Price”), increased (but not decreased) by an amount, if any, equal to the Base Price multiplied by the percentage increase in the Area Median Income between the Effective Date and the date that the City receives notification of an Option Event.