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B. Form of Lease. Long-Term Leases shall be tailored to meet the needs of <br /> each Park Owner but shall be in substantially the form attached hereto as Exhibit "C" <br /> entitled "Mobilehome Park Lease." The City Attorney's office shall approve the form of <br /> any Long Term Lease to be offered to a Home Owner. It shall be a breach of this <br /> Agreement for any form of Long Term Lease to be offered to a Home Owner which has <br /> not been approved by the City Attorney's office. <br /> C. Effect of Condemnation. A Park Owner may make leases subject to <br /> termination upon condemnation or sale in lieu of condemnation. <br /> VII. FORMULAS FOR INCREASES TO MONTHLY RENTS <br /> Formula A. If a Park Owner selects Formula A, the Adjusted Monthly Rents <br /> shall be adjusted annually and shall be calculated as set forth below: <br /> (1) From the Adjusted Monthly Rent (see Exhibits A-1, A-2 and A-3), <br /> subtract the Capital Improvement costs (Paragraph VIII) If any. This is the <br /> Monthly Rent. <br /> (2) Multiply (1) by the Cost of Living, but not less than 1% nor more <br /> than 5% of the Monthly Rent. <br /> (3) Add the amount in (2) to the Monthly Rent. <br /> (4) Add the Capital Improvement cost, if any, to (3). Round to the <br /> nearest half dollar. This is the Adjusted Monthly Rent. <br /> If there has been a change of ownership, the Adjusted Monthly Rents shall be <br /> adjusted annually and shall be calculated as set forth below: <br /> (1) From the Adjusted Monthly Rent(see Exhibits A-1, A-2 and A-3), <br /> subtract the Capital Improvement costs (Paragraph VIII) if any. This is the <br /> Monthly Rent. <br /> (2) Multiply (1) by the Cost of Living, but not less than 1% nor more <br /> than 5% of the Monthly Rent. <br /> (3) The Real Property Taxes as calculated in Exhibit D-1. <br /> (4) Add the amount in (2) and (3) to the Monthly Rent. <br /> (moblhome am 713/97) <br /> 7 <br />