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approximately thirty-one (31) acres. The Park has wide asphalt streets with gutters, green belts for open space, and all utilities aze underground. The common area contains a clubhouse with billiards, laundry room, a full kitchen, library/card room, television, and fireplace in main room. There is a pool (with shower facilities). The pool area is furnished including chaise lounges and chairs and tables with umbrellas. 2. Residents' Current Position/Rights. 2.1 Current Occuoancv. Currently, a small number of the Residents reside in the Park on leases ("Leases"). Approximately eighty-five percent (85%) of the Resident occupants reside in the Pazk on a month-to-month written rental agreement ("Rental Agreement"). For those Residents who aze on a one (1)-year or month-to-month tenancy, the 2007 Rent Stabilization Agreement, agreed upon by the City of Pleasanton and the Park Owner (as subsequently amended, modified or supplemented, "Rent Stabilization Agreement"), currently regulates rent increases. 2.2 Residents' Rights. In addition to the terms of the Leases and Rental Agreements, the tenancy rights of Residents residing in the Pazk are governed by California Civil Code §§ 798 et seq. ("Mobilehome Residency Law") and other applicable California statutes and case law. 3. Park Owner's Rights Uuon Conversion• Right to Change Use. Generally the Pazk Owner, pursuant to the Califomia Government Code and Mobilehome Residency Law, has the right to terminate all existing tenancies and require the Residents to vacate the property and go out of business or change the use of the property, providing all applicable laws are followed. The Park Owner, however, through this TIR, agrees to waive the right to terminate any tenancies and existing Leases or require that the Residents vacate the property. Under this scenario, non- purchasing Resident Households will NOT be required to vacate their space and, as described in more detail in Section 4 below, will have occupancy rights subject to any Lease or Rental Agreement, Mobilehome Residency Law, and Califomia law, as applicable. Therefore, there will be no actual eviction or displacement due to the conversion and Resident-purchase of the Park. 4. No Actual or Economic Disulacement. 4.1 Impact of Conversion. Under the California Government Code and the Mobilehome Residency Law, the subdivider is required, as a condition of conversion, to prepare a TIR to set forth the impact of the conversion. Furthl;r, the rental increase amount, which may be charged by the owner of the space subsequent to the conversion, is specified and is mandatory in California Government Code § 66427.5. As a result of the conversion, there will be no physical change of use. The property was before and will be after the conversion, operated as a mobilehome pazk. The difference is that instead of art investor/operator owner, a Homeowners' Association will operate the property. 4.2 Rental Rate Increases: No Economic Disalacement. To the extent there is any economic displacement of Resident Households who elect to not purchase the space on which their mobilehome is situated, it is mitigated by allowing such non-purchasing Resident Households to continue their tenancy in the Park under the Subdivision Map Act rental increases restrictions pursuant to Califomia Government Code § 66427.5 (f) (1 &2)("Map Act Rents"). [DMM:a~/ 15918I_4.DOC/OS 1308/4640.0011 3