02 AGREEMENT HACIENDA - Laserfiche WebLink

3. If the Property Owner increases rents following a Transfer of Ownership by less than the maximum permitted under subparagraphs 1 and 2 of this paragraph D, then the Property Owner shall have the right in the following year or years to increase the rents by the difference between the maximum permitted rent increase under subparagraphs 1 and 2 of this paragraph and the actual rent increase actually imposed. 4. Except as provided in subparagraph 3 of this paragraph D, any rent increase pursuant to subparagraphs 1 and 2 of this paragraph D shall be imposed immediately upon a Transfer of Ownership. E. If as a result of a death of the Properly Owner, the Property Owner's heirs are forced to sell the Park to pay federal estate taxes, a new owner may request the City to increase rents to cover increased property taxes. It is within the sole discretion of the City whether to grant such request. V. LONG TERM LEASES A. Long-term Lease. The Properly Owner may offer to any Resident or to any prospective Resident along-term Lease or other agreement under Civil Code, Section 798.17 (c). If the Property Owner offers to a Resident or prospective Resident along-term Lease or other agreement, the Property Owner shall provide the Resident or prospective Resident a copy of this Agreement and inform the Resident or prospective Resident that this Agreement determines how space rents will be calculated in the absence of a Long term Lease or other agreement. If a long term lease or other agreement is offered to a prospective Resident, the prospective Resident shall have thirty days from the date the Lease/agreement is first offered to review the Lease/agreement and this Agreement and to accept or reject the Lease/agreement. The prospective Resident shall have the right to rescind the Lease/agreement after signing it by notifying the Property Owner in writing within 72 hours of the execution of the Lease/agreement. It shall be a breach of this Agreement for the Property Owner to coerce or directly or indirectly influence a Resident or prospective Resident to enter into along-term Lease or other agreement under Civil Code, Section 798.17 (c). B. Form of Lease. Long-term Leases shall be tailored to meet the needs of the Property Owner but shall be in substantially the form attached hereto as Exhibit "C" entitled "Mobilehome Park Lease." The City Attorney's office shall approve the form of any Long-term Lease to be offered to a Resident. It shall be a breach of this Agreement for any form of Long- term Lease to be offered to a Resident which has not been approved by the City Attorney's office. C. Effect of Condemnation. The Property Owner may make leases subject to termination upon condemnation or sale in lieu of condemnation. 6