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AGREEMENT PROVIDING FOR STABILIZATION <br /> OF MOBILEHOME SPACE RENTS <br /> THIS AGREEMENT is entered into this /(v day of 0070$&71- , 2007 by and <br /> between the following parties: <br /> PLEASANTON HACIENDA I, LLC, 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 <br /> to as "City"). <br /> RECITALS <br /> A. There are four mobilehome parks within the City. There are a limited number of <br /> vacant spaces in these parks and there are few additional mobilehome park spaces available in <br /> the County and adjoining communities. <br /> B. On January 19, 1988, the mobilehome park owners and the City entered into an <br /> agreement providing for the stabilization of mobilehome rents (hereafter the January 19, 1988 <br /> agreement). Prior to the January 19, 1988 agreement, some mobilehome space rents had <br /> increased at a faster rate than the increase in the rate of inflation. <br /> C. Prior to the January 19, 1988 agreement, the City Council had been petitioned by <br /> the mobilehome residents to establish a rent stabilization ordinance. When the City Council <br /> considered the ordinance, representatives of the park owners suggested that alternatives to the <br /> establishment of a rent stabilization ordinance be considered. As a result of that suggestion, the <br /> park owners negotiated the January 19, 1988 agreement, which stabilized rents in the <br /> mobilehome parks within Pleasanton. <br /> D. During 1991 the park owners and the mobilehome residents expressed to the City <br /> that they were interested in negotiating a new agreement. The City sponsored and facilitated <br /> extensive negotiations which led to a March 17, 1992 Mobilehome Rent Stabilization <br /> Agreement. <br /> E. The March 17, 1992 agreement was due to expire on December 31, 1996, and the <br /> parties to that agreement met during 1996 to discuss the terms and conditions of a revised <br /> Mobilehome Rent Stabilization Agreement. <br /> F. The parties to the March 17, 1992 agreement reached agreement on a revised <br /> Mobilehome Rent Stabilization Agreement ("the November 1996 agreement'). <br /> G. The November 1996 agreement was due to expire on December 31. 2001 and the <br /> parties (or their successors in interest) to that agreement met during 2001 to discuss terms and <br /> conditions of a revised Mobilehome Rent Stabilization Agreement. <br /> 1 <br />