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occur for at least ten (10) years after the date that the final map for the conversion of the Park is recorded. The Park will not have a change of use, but rather only a change in the method of ownership. The State of California recognizes the substantial difference between a change of use which results in the closure of a mobilehome park from a change in the method of ownership by the implementation of different State of California statutes. For all purposes hereunder, California Government Code §66427.5 controls for purposes of determining what rights the non- purchasing Resident Households will have after the conversion is completed. As detailed below, the conversion of the Park will result in neither actual nor economic displacement of its Residents. 1.2 Definition of Residents. (a) Categories of Residents within the Park. California Government Code 66427.5 divides the Residents of the Park into two (2) income categories: (1) non -lower income and (2) lower income households. Lower income households are defined in Health Safety Code 50079.5 as "those persons and families whose income does not exceed the qualifying limits for lower income families as established and amended from time to time pursuant to Section 8 of the United States Housing Act of 1937." The greatest protections are given to the lower- income households. The income limits are based on the county median income and the household size as prepared and distributed under the United States Housing Act. To qualify as a lower- income household, the following income limits were established for calendar year 2008. Household Size of Persons 1 2 3 4 Income Must be at or Below: $46,350 $53,000 $59,600 $66,250 The foregoing lower- income household income limits for calendar year 2008 are provided only as an example of applicable income limits. On the Conversion Date (as defined in Section 4.3 hereof), such lower- income household limits are likely to be different, probably higher. For a Resident Household to qualify as a lower- income household for purposes of California Government Code 66427.5, the Resident Household would need to qualify with respect to the lower income household requirements applicable as of the date the Final Public Report is issued by the DRE and delivered to each Resident Household and the City of Pleasanton. If, for example, the date of the issuance and delivery of the Final Public Report is ten (10) years from the date the final map for the conversion records, then a Resident Household in order to qualify as a Lower- income household would need to qualify under the income limits then applicable. (b) Definition of Resident(s). As used in this Tenant Impact Report, a "Resident" or "Residents" is a homeowner or other person who lawfully occupies a mobilehome in the Park. 1.3 Description of the Property. The Park was constructed in approximately 1972 and is a two hundred and eight (208) -space "Senior" Park (age restriction applies), situated on 3 2008 State Income Limits for Alameda County. [DMM:az/159181 _4.DOC/05 1 3 0 8/4640.0011 2