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Price Index (UePI") as published periodically by the United States Department of Labor during seller's ownership. To calculate the base resale prices using AMI and CPI, the base price shall be compounded by the annual rate of increase for the AMI and CPI from the date in which the selling Owner purchased the Premises through the date of receipt by City of the selling Owner's notice of intent to sell. The maximum resale price will be the lowest value between the fair market value using the Appraisal Method above, AMI compounded base price and CPI compounded base price. In no event shall the resale price be lower than the price paid by the selling Owner when he/she/they purchased the Premises. In no event shall City become in any way liable to Owner, nor become obliged in any manner, by reason of the assignment of its right to purchase, nor shall City be in any way obligated or liable to Owner for any failure of City's assignee to consummate a purchase of the premises or to comply with the terms of any purchase and sale agreement. 12. Adiustments to Base Resale Price. Subject to the Affordable Housing Cost restriction described in subsection (d) below, the Base Resale Price shall be increased or decreased, as applicable, by the following adjustment factors ("Adjustment"): a. Capital Improvements. An increase for capital improvements made to the Property by Owner, but only if the amount of said improvements had been previously accepted in writing by the City after original written documentation of the cost was provided to the City for verification. The amount of the Adjustment shall equal the original cost of any such capital improvements depreciated on a straight. line basis based upon the estimated useful life of the improvement stated in the City's prior written acceptance of said improvement. b. Damaqes. A decrease by the amount necessary to repair damages to the Property, if any, and to place the Property into saleable condition as reasonably determined by the City, including, without limitation, amounts attributed to cleaning; painting; replacing wom carpeting and draperies; making necessary structural, mechanical, electrical and plumbing repairs; and repairing or replacing built-in appliances and fixtures. c. Advances by the City. A decrease in an amount equal to the sum of all costs advanced by the City for the payment of mortgages, taxes, assessments, insurance premiums, homeowner's association fees and/or associated late fees, costs, penalties, interest, attorneys' fees, pest inspections, resale inspections, fixing violations of applicable building, plumbing, electric, fire, or other codes, and other expenses related to the Property, which Owner has failed to payor has permitted to become delinquent. d. Adiusted Resale Price Not to Exceed Affordable Housinq Cost. The Base Resale Price as adjusted, is hereinafter referred to as the "Adjusted Resale Price." Notwithstanding any other provision hereof to the contrary, in no event shall the Adjusted Resale Price exceed the Affordable Housing Cost. 13. Priority and Effectiveness of the Option. a. Recordation. This Agreement shall be recorded in the Office of the Recorder of the County of Alameda prior to any sale, conveyance, transfer or other disposition of the Property, or of any estate or interest therein, by Owner. The Option shall have priority over any subsequent sale, conveyance,