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preservation of age restricted community status, and ensuring proper maintenance of the park. Key Elements of the Proposed Hacienda Mobilehome Park Rent Stabilization Agreement The proposed agreement addresses the following matters, among others: 1. In lieu capital improvement costs have been eliminated. For those residents who used to pay an additional $17 or $34 per month for this, they no longer will have to. There will be no change in the rent, however, for residents that moved in after 2007 as they did or do not pay this cost separately since pursuant to the previous agreement it was factored into the base rent. (Article IV.) 2. Longer term residents (prior to 2002) will pay a property tax pass through of $51.20 each month. (Article IV.) 3. Future rent increases will be based on the Consumer Price Index (CPI) for August of each year, and applied the following January. The CPI will not be applied to any capital improvement charges or property tax pass throughs. The park owner must apply increases each year, there is no mechanism to bank rent increases and apply them in future years. The CPI floor has been lowered to 1.5%, the ceiling remains at 5%. (Article V.) 4. The dispute resolution process makes clear that the City of Pleasanton's Municipal Code provisions will apply if a resolution is not reached, and that Code provides for administrative penalties of up to $1,000 per day if so ordered by a hearing officer after a proper hearing. (Article III.) 5. The park will remain an age restricted community. (Article IX.) 6. Capital Improvements costs collected under the prior agreement were in dispute. The parties have resolved that dispute by having the park owner contribute funds for the rehabilitation of the kitchen in the clubhouse, including all funds collected as in lieu capital improvement costs during 2013. The total park owner contribution will be $65,000, which will be held in escrow and only released upon a satisfactory showing to the City that monies were spent for rehabilitation of the kitchen. Any excess monies will be returned to residents as of December 31, 2012. The Park owner cannot assess residents for costs that exceed the park owner's $65,000 contribution for the rehabilitation of the kitchen in the clubhouse. (Article VI.) 7. Other capital improvements may only be passed on to residents in accordance with the relevant provisions of the City of Pleasanton's Mobilehome Rent Stabilization Ordinance. (Article VII.) Page 3 of 5