PLEASANTON MOBILE HOME PARK LP - Laserfiche WebLink

decision. The City Manager shall designate an impartial arbitrator who shall have the same jurisdiction and authority as the PMC unless the parties stipulate otherwise. The costs of arbitration shall be split equally between the affected Park Owner, the affected Home Owner or Home Owner's Association, and the City of Pleasanton. V. RENT INCREASES A. Rent Increases Generally. Each Park Owner on signing this Agreement must select one of the two formulas set forth in Paragraph VII. Once a Park Owner selects a rent formula, that formula shall apply to the Monthly Rent or to the Adjusted Monthly Rent for each space until this Agreement terminates. B. Rent Increases Upon Transfer of Ownership. In addition to the rent increases provided in subparagraph A of this Paragraph V, during the term of this Agreement, the Park Owners may increase the rent for a mobilehome space upon a Transfer of Ownership; provided, however, that during said term, the cumulative increase shall not exceed 25% of the Monthly Rent for the space as of January 1, 1997. C. Increases Less Than Maximum Permitted. Nothing herein shall be construed to require that the Park Owner increase rents in any given year by the maximum permitted under this Agreement. If a Park Owner increases rents in any year by less than the maximum permitted pursuant to Paragraph VII, then the Park Owner shall have the right in the next subsequent year to increase rents by the difference between the maximum permitted rent increase pursuant to Paragraph V[I for the two year period and the actual rent increase actually taken in the first year. D. Statement Itemizing Rent Increase. In the notification of rent increase required by Civil Code Section 798.30, the Park Owner shall also include a statement itemizing the increased costs permitted by Paragraphs VIII and IX, if applicable. VI. LONG TERM LEASES A. Long-term Lease. During this Agreement, a Park Owner may offer to any Home Owner or to any prospective Home Owner a Long-Term Lease. If a Park Owner offers to a Home Owner or prospective Home Owner a Long-Term Lease, the Park Owner shall provide the Home Owner or prospective Home Owner a copy of this Agreement and inform the Home Owner or prospective Home Owner that this Agreement determines how space rents will be calculated in the absence of a Long Term Lease. It shall be a breach of this Agreement for any Park Owner to coerce or directly or indirectly influence a Home Owner or prospective Home Owner to enter into a Long Term Lease. (mosuamc.um 2/5/91) 6