High End Subdivisions definition
High End Subdivisions means Subdivisions which are identified as “High End Subdivisions” by Bank and may include any Subdivision upon which shall be constructed SFR Units that will be marketed to the public at sales prices which are within the top twenty percent (20%) of residential home prices for the applicable geographic market; provided, however, if the Subdivision is in a coastal market or coastal influenced market in California, as determined by Bank, such Subdivision shall be deemed a “High End Subdivision” only if the SFR Units will be marketed to the public at a sales price equal to or in excess of One Million Two Hundred Thousand Dollars ($1,200,000.00).