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7.3.A. - Page 10 <br /> Program's Rent Stabilization requirements, and that adequate Program Loan <br /> Funds are available. <br /> U. "Program Loan Documents" shall mean all documents required from the Borrower <br /> as a precondition to the granting of a Program Loan and shall include a Loan <br /> Agreement, Promissory Note and Deed of Trust on forms prepared by and <br /> acceptable to the Program Manager. <br /> V. "Program Loan Fund" means the City fund established by the City Council for <br /> Program Loans. <br /> W. "Program Manager" means the City Manager, or their designee, in their capacity <br /> as the City representative charged with the authority and responsibility to <br /> supervise the Program in all its aspects. <br /> X. "Promissory Note" shall mean the promissory note through which the Borrower <br /> shall promise to repay the City for the Program Loan should the Borrower fail to <br /> perform their Rent Stabilization obligations under their Loan Agreement. <br /> Y. "Program Loan Priority" means the priority assigned to an Owner's Program <br /> Application at the time it is submitted and establishes an Owner's place in line to <br /> receive a Program Loan from the limited Program Loan Fund. <br /> Z. "Rent Stabilization" refers to that aspect of the Program whereby the qualified <br /> Borrower voluntarily agrees not to increase the rents in an Eligible Building more <br /> than an agreed percentage in exchange for the forgiveness of their Program Loan <br /> at the end of the Loan Term. <br /> AA. "Reserved Program Loan Funds" means the Program Loan Funds as determined by <br /> the Program Manager available to an eligible Owner for a Program Loan and <br /> specified in a Program Loan Commitment Letter. <br /> II. PROGRAM OVERVIEW. <br /> A. The Program was established by the City Council pursuant to Resolution No. <br /> adopted on , 2015. <br /> ATTY /RES0.3085 /CC RESO — RWC FIRE SAFETY FIRST PILOT PROGRAM — ATTACHMENT A <br /> REV: 07 -22 -15 VR <br /> Page 4 of 9 <br /> OAK #4837 - 7968 -0037 v1 <br />