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FIRST AMENDMENT TO <br /> AGREEMENT PROVIDING FOR STABILIZATION <br /> OF MOBILEHOME SPACE RENTS <br /> ENTERED INTO OCTOBER 16, 2007 <br /> THIS FIRST AMENDMENT TO AGREEMENT is entered into this 2. day of <br /> bee e be r , 2012 by and between the following parties: <br /> PLEASANTON HACIENDA I, as`owner of Hacienda Mobilehome Park, 3231 <br /> Vineyard Avenue, Pleasanton, (A.P.N. 946-1250-14-7), (hereinafter referred to as "Property <br /> Owner") and THE CITY OF PLEASANTON, a municipal corporation, (hereinafter referred to <br /> as "City"). <br /> RECITALS <br /> A. The parties entered into an Agreement Providing for Stabilization of Mobilehomc Space <br /> Rents (Agreement) on October 16, 2007. <br /> B. The Agreement will expire on December 31, 2012. <br /> C. The parties, with input and participation from the Residents' Agreement Committee, arc <br /> actively negotiating a new agreement, but have not yet reached arrived at a resolution of all <br /> terms under consideration. <br /> D. The parties desire to extend the current Agreement for a two month period to allow the <br /> parties to continue their negotiations, subject to the terms set forth below. <br /> NOW, THEREFORE, in consideration of the faithful performance of the terms., conditions, <br /> covenants, and promises set forth herein, the parties agree to this First Amendment to Agreement <br /> as follows: <br /> 1. The term of the current Agreement shall be extended through February 28, 2013. <br /> 2. Adjusted Monthly Rent (which consists of the Monthly Rent less the in lieu capital <br /> improvement costs, if applicable; and for purposes of this First Amendment, the in lieu capital <br /> improvement costs include $51.20 for property tax pass through plus $17 for those who moved <br /> in prior to January 1, 2002, and $34 for those residents who moved in between January 1, 2002 <br /> through December 31, 2007) for all residents whose occupancy commenced prior to October 1, <br /> 2012 shall increase by 2.8% effective January 1, 2013, which reflects only the August 2012 CPI <br /> increase authorized under the current Agreement. <br /> 3. Current in lieu capital improvement costs charges, as set forth in 2 above, shall continue <br /> to be assessed. <br /> 4. In lieu capital improvement costs charges in the amounts of$17 and $34, as set forth in <br /> part 2 above, collected by park owner during this two month period shall be segregated (or <br />