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(a) Maximum Resale Price. The purchase price for a transfer of a unit to a new unit owner may not exceed the maximum resale price. For purposes of this Agreement, the "maximum resale price" means the sum of (a) the original purchase price paid for such unit by the then unit owner, and (b) the lesser of (i) four percent (4 of such original purchase price (calculated on an annual basis during the period of such unit owner's ownership), or (ii) the CPI, and (c) the fair market value of capital improvements made to the unit during the period of such unit owner's ownership, which value shall be determined in accordance with guidelines established by the LHA and in effect from time to time, which guidelines may include further requirements and procedures for qualifying capital improvements for purposes of this Section 12. For purposes of this Agreement: (i) "capital improvement" means an improvement or set of improvements to a unit owned by a unit owner, having an original purchase price of $300.00 or more (if a single improvement), or a cost of $1000.00 or more (if a set of improvements undertaken pursuant to a single project, irrespective of whether any individual improvement in such project may cost less than $300.00); an estimated useful life of five (5) or more years, which is either integrated into or installed in the Unit, and is transferred with such unit owner's sale of the unit. Examples of capital improvements include, but are not limited to, new cabinets, flooring, windows or appliances, or a kitchen remodel project where the project costs exceed $1000.00, even if individual improvements within such project cost less than $300.00. (ii) "CPI" means the Consumer Price Index all Urban Consumer, for the Boulder Longmont, Metropolitan Area, All Items (1982 -84 100), as published by the Bureau of Labor Statistics of the United States Department of Labor. If publication is discontinued or published less frequently, then CPI shall mean a substitute index published by a United States governmental body or recognized United States financial institution that reasonably reflects and monitors consumer prices in the United States. (b) No Additional Consideration. The purchase price for a unit shall be expressly recited in the deed or other document effecting the transfer of such unit. A unit owner may not permit any prospective buyer to assume any or all of such unit owner's customary closing costs, or accept any consideration not stated in the deed or other document effecting the transfer of such unit. If a unit is sold with fiurnishings or other personal property, no more than the fair market value of such personal property may be charged. (c) Acceptance of Offers. A unit owner may not accept an offer or bid on such unit owner's unit with a purchase price that exceeds the maximum resale price or from a purchaser who is not an eligible buyer. A unit owner may accept any offer from an eligible buyer that is equal to or less than the maximum resale price. 13. Restrictions on Use and Rental of Units. (a) Sole Residence. Each unit owner shall maintain his or her unit as such unit owner's "sole permanent place of residence," defined for purposes hereof to mean the home in which such person's habitation is fixed and to which such person, whenever he or she is absent, has a present intention of returning after a departure or absence therefrom, regardless of the 6