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pass throughs. This agreement, and the companion Agreement Concerning Capital Improvements, eliminate that financial risk. Key Elements of the Hacienda Mobilehome Park Agreement Most of the key elements of the proposed Hacienda Mobilehome Park Agreement are the same as for those in the Vineyard Mobile Villa. Due, however, to the maintenance issues about which the residents have expressed concern, there are additional, more specific, maintenance related standards referenced in this Agreement. For example, street light outings have been cited as a hazard to residents so the Agreement spells out that all street lights are to be operational by December 31, 2007 and that the owner shall continually maintain all street lights in operating condition. Similarly, the Agreement calls for the Maintenance Committee (made up of residents) to identify those sidewalk areas that are in need of repair and sets forth a timetable for the owner to have that work done. Other maintenance standards include the owners providing a large dumpster twice a year for the residents' use and for park management to clean out all park storm drains as necessary and as needed during the winter months. Maintenance of landscaping (or the lack thereof) has also been a matter of concern to the residents so there will beatable (modeled after the City's standard specifications) that details the areas of landscaping (turf, ground cover, shrubs and trees) and the frequency of work, such as fertilizing, weeding, etc., that needs to be done. In the Vineyard Villa agreements, the owner has agreed to repair and replace all the capital improvements in the park in perpetuity in exchange for a rent increase. The Hacienda residents, concerned about their owner's history of deferred maintenance, were not willing to recommend that the City enter into the exact same agreement with the Hacienda owner at this time. Rather, the residents wanted to have a trial period during which the owner would have the opportunity to demonstrate that he would use the rent increase funds for a number of capital improvements, such as a new clubhouse roof, new perimeter fencing, the sidewalk repairs mentioned above, and a new irrigation system and landscaping. Accordingly, under this Agreement, residents would pay $17 or $34 (depending on when they moved into the Park) more per month than what they are currently paying for the owner's agreement to assume the cost of all capital improvements over the next five years. The owner must provide to the City an annual accounting of how much was collected, what capital improvements were repaired, replaced or installed, and their cost. At the end of five years, the owner must show that he has completed all the capital improvements that he agreed to complete and that all the funds collected for that purpose have either been spent or there are other specific identified capital improvements (with estimated costs) for which the funds will be spent. If that can be demonstrated to the satisfaction of the City, then the $17/$34 would go into effect permanently, as would the owner's obligation to repair, replace and construct all Park capital improvements. On the other hand, if the owner fails to perform or fails to spend all the collected funds for capital improvements, the unspent funds must be returned to the residents and the rent increases for this purpose go away. Hence, the park owner should be sufficiently motivated to meet his obligations. Page 5 of 7