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Owner shall give written notice to Agency of any intent to terminate the escrow at least ten (10) <br />days prior to such termination. Agency shall retain the right to purchase the unit for an additional period of <br />ten (10) days commencing from the date of termination of escrow. <br />6. Third -Party Sale <br />In the event Agency or its designee does not accept the offer of sale within thirty (30) days of the <br />offer, Owner may offer the residence for sale to anyone, regardless of income criteria. The Owner, <br />however, will be subject to the purchase price provision as contained in Paragraph 7. Buyer (Transferee) <br />will be required to execute an agreement under the terms of which the Transferee shall have the same <br />obligations and duties and agree to be bound by the restrictions as are provided in this Agreement. <br />7. Purchase Price <br />Closing costs and title insurance shall be paid pursuant to the custom and practice of the Agency <br />at the time of the opening of such escrow. <br />The Purchase Price of the Premises shall be fixed at the lower amount arrived at via the following <br />two methods. <br />a. Agency or its designee shall have an appraisal made by a neutral professional appraiser of its <br />choice to establish the market value. The Owner may also have an appraisal made by a neutral <br />professional appraiser of Owner's choice to establish the market value. If agreement cannot be reached, <br />the average of the two appraisals shall be deemed to be the market price. <br />b. One Hundred Thousand Three Hundred Ninety Eight ($100,398.00) Dollars plus the amount of <br />any prepayment fees paid by the Owner -Seller at the time said Owner purchased the Premises (base <br />price), plus an amount, if any, to compensate for any increase in the housing component of the San <br />Francisco -Oakland -San Jose, California Consumer Price Index as published periodically by the United <br />States Department of Housing and Urban Development (hereinafter "the Index"). For that purpose, the <br />Index prevailing on the date of the purchase by the Owner -Seller shall be compared with the latest Index <br />available on the date of receipt by Agency of notice of intent to sell. The percentage increase in the Index, <br />if any, shall be computed and the base price shall be increased by that percentage; provided, however, <br />that the price in no event shall be lower than the purchase price paid by the Owner -Seller when he/she <br />purchased the Premises. This adjusted price shall be increased by the value of any substantial structural <br />or permanent fixed improvements, if and only if, such improvements were approved by Agency prior to <br />construction and were constructed with valid building permits. No price adjustment will be made except <br />upon presentation to the Agency of written documentation of all expenditures made by Owner for which an <br />adjustment is requested. <br />Any sale price determined through the use of this method b (base price adjusted by Consumer <br />Price Index and value of improvements, applications, fixtures, or equipment added) shall be adjusted by <br />decreasing said price by an amount to compensate for deferred maintenance costs, which amount shall be <br />El <br />