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VI. FORMULAS FOR INCREASES TO MONTHLY RENTS <br /> A. For Residents whose occupancy predates January 1, 2008,the Monthly Rents for <br /> 2009 through 2012 shall be revised annually and shall be calculated as set forth below: <br /> (1) Deduct from the Monthly Rents the in lieu capital improvement cost to <br /> yield an Adjusted Monthly Rent. <br /> (2) Multiply the Adjusted Monthly Rent by the Cost of Living, but not less <br /> than 2% nor more than 5%. <br /> (3) To (1) [the Adjusted Monthly Rent] add the in lieu capital improvement <br /> cost and the amount in (2), to yield the Monthly Rent for the next year. <br /> B. For Residents whose occupancy postdates December 31, 2007, the Monthly Rents <br /> for 2009 through 2012 shall be revised annually and shall be calculated as set forth below: <br /> (1) Multiply the Monthly Rent by the Cost of Living, but not less than 2% nor <br /> more than 5%. <br /> (2) Add the amount in (1) to the Monthly Rent. <br /> C. For Residents whose occupancy predates January 1, 2008,the Monthly Rent for <br /> 2013 shall be calculated as follows: <br /> • (1) Deduct from the Monthly Rents the in lieu capital improvement cost to <br /> yield an Adjusted Monthly Rent. <br /> (2) Multiply the Adjusted Monthly Rent by the Cost of Living, but not less <br /> than 2% nor more than 5%. <br /> (3) To (1) add the amount in (2) to yield the Monthly Rents for 2013. <br /> D. For Residents whose occupancy postdates December 31, 2007, the Monthly Rent <br /> for 2013 shall be calculated as follows: <br /> (1) Deduct from the Monthly Rents that portion of the Monthly Rent that is <br /> attributable to the in lieu capital improvement cost to yield an Adjusted Monthly <br /> Rent. <br /> (2) Multiply the Adjusted Monthly Rent by the Cost of Living, but not less <br /> than 2% but not more than 5%. <br /> (3) To (1) add the amount in (2) to yield the Monthly Rent for 2013. <br /> 7 <br />