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7.3.A. - Page 13 <br /> 2015, and the proposed Borrower had increased rents in the Eligible <br /> Building since September 1, 2010 as follows: 6/1/11– 5 %; 6/1/12- <br /> 5%; 6/1/13 -5 %; 6/1/14 -5 %; and 6/1/15 -5 %, then the increase <br /> within the last twelve (12) months (5 %) would not be greater than <br /> average of the increases imposed over the entire five year period <br /> (5 %). However, if a proposed Borrower submits a Program Loan <br /> Application on September 1, 2015, and the proposed Borrower had <br /> increased rents in the Eligible Building since September 1, 2010 as <br /> follows: 6/1/11 – 5 %; 6/1/12 -5 %; 6/1/13 -5 %; 6/1/14 -5 %; and <br /> 6/1/15 -10 %, then the increase within the last twelve (12) months <br /> (10 %) would be greater than the average of the increases imposed <br /> over the entire five year period (6 %). <br /> b. The Program Manager may allow for greater increases in rent <br /> charges during the twelve (12) months immediately preceding the <br /> date of submission of the Owner's Program Application and <br /> continuing through the date of the Loan Agreement reasonably <br /> justified by capital improvements or upgrades made to the subject <br /> rental units other than the installation of the Automatic Sprinkler <br /> System. <br /> B. Program Loan Commitment Letter. <br /> 1. If the Program Manager determines that the proposed cost for design, <br /> purchase and /or installation of the Automatic Sprinkler System for the <br /> Eligible Building is satisfactory and eligible for reimbursement through a <br /> Program Loan, that the Owner qualifies under the Program's Rent <br /> Stabilization requirements, and that adequate Program Loan Funds are <br /> available, then the Owner will be given a Program Loan Commitment <br /> Letter. The amount specified in the Program Loan Commitment Letter may <br /> not exceed $5.00 per square foot (gross square footage) of the Eligible <br /> Building unless the Program Manager approves a greater amount due to <br /> unusual circumstances. The Loan Term, based on the amount of the <br /> requested Program Loan, shall also be specified. <br /> 2. The Program Loan Commitment Letter will assure the Owner that Program <br /> Loan Funds will be reserved for a Program Loan to the Owner in the <br /> amount and for the length of time specified in the Program Loan <br /> Commitment Letter. If prior to the Program Loan Commitment Expiration <br /> ATTY /RES0.3085 /CC RESO — RWC FIRE SAFETY FIRST PILOT PROGRAM — ATTACHMENT A <br /> REV: 07 -22 -15 VR <br /> Page 7 of 9 <br /> OAK #4837 - 7968 -0037 v1 <br />