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VI. FORMULAS FOR INCREASES TO MONTHLY RENTS <br />A. For Residents whose occupancy predates January 1, 2008,the Monthly Rents for <br />2009 through 2012 shall be revised annually and shall be calculated as set forth below: <br />(1) Deduct from the Monthly Rents the in lieu capital improvement cost to <br />yield an Adjusted Monthly Rent. <br />(2) Multiply the Adjusted Monthly Rent by the Cost of Living, but not less <br />than 2% nor more than 5%. <br />(3) To (1) [the Adjusted Monthly Rent] add the in lieu capital improvement <br />cost and the amount in (2), to yield the Monthly Rent for the next year. <br />B. For Residents whose occupancy postdates December 31, 2007, the Monthly Rents <br />for 2009 through 2012 shall be revised annually and shall be calculated as set forth below: <br />(1) Multiply the Monthly Rent by the Cost of Living, but not less than 2% nor <br />more than 5%. <br />(2) Add the amount in (1) to the Monthly Rent. <br />C. For Residents whose occupancy predates January 1, 2008,the Monthly Rent for <br />2013 shall be calculated as follows: <br />(1) Deduct from the Monthly Rents the in lieu capital improvement cost to <br />yield an Adjusted Monthly Rent. <br />(2) Multiply the Adjusted Monthly Rent by the Cost of Living, but not less <br />than 2% nor more than 5%. <br />(3) To (1) add the amount in (2) to yield the Monthly Rents for 2013. <br />D. For Residents whose occupancy postdates December 31, 2007, the Monthly Rent <br />for 2013 shall be calculated as follows: <br />(1) Deduct from the Monthly Rents that portion of the Monthly Rent that is <br />attributable to the in lieu capital improvement cost to yield an Adjusted Monthly <br />Rent. <br />(2) Multiply the Adjusted Monthly Rent by the Cost of Living, but not less <br />than 2% but not more than 5%. <br />(3) To (1) add the amount in (2) to yield the Monthly Rent for 2013. <br />7 <br />