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WHEREAS, the parties hereto intend this agreement to meet the <br />requirements of the Ordinance and Condition No. 6 of Tentative <br />Tract 5168; <br /> <br /> NOW, THEREFORE, in consideration of the mutual covenants and <br />promises contained herein, the parties agree as follows: <br />Section 1. Tenant Provisions <br /> <br /> The following shall apply to every tenant occupying a unit <br />in the Complex on May 25, 1983. <br /> <br /> (a) Rent Increase Protection. Pursuant to Section <br />2-25.10(b) of the Ordinance, leases of tenants remaining in the <br />Complex during the period between approval of the condominium <br />conversion project and sale of the unit as a condominium shall <br />be under the same terms and conditions as existed as of May 25, <br />1983, except for the following: <br /> <br /> (1) Rent may increase at an annual rate equivalent <br /> <br /> to the Bay Area Consumer Price Index or seven ~ercent (7%) <br /> whichever is less. <br /> <br /> (2) No rent increase shall be allowed prior to <br /> <br /> May 25, 1984; subsequent rent increases shall be allowed <br /> <br /> no more frequently than annually. <br /> <br /> (b) Elderly and Handicapped Tenants. Any elderly or handi- <br />capped tenant, as defined in Section 2-25.02 of the Ordinance, who <br />had occupied a dwelling unit or mobile home s~ace in the Complex <br />for eighteen (18) months or more on May 25, 1983, shall have <br />special leasehold rights. Elderly tenants shall have the right <br />to lease their units for nine (9) years; handicapped tenants shall <br />have the right to lease their units for seven (7) years. <br /> <br />-2- <br /> <br /> <br />