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07/27/2015 7.3.A. - Page 13 2015,and the proposed Borrower had increased rents in the Eligible Building since September 1,2010 as follows: 6/1/11–5%; 6/1/12— 5%; 6/1/13-5%; 6/1/14-5%; and 6/1/15-5%, then the increase within the last twelve (12) months (5%) would not be greater than average of the increases imposed over the entire five year period (5%). However, if a proposed Borrower submits a Program Loan Application on September 1, 2015, and the proposed Borrower had increased rents in the Eligible Building since September 1, 2010 as follows: 6/1/11 – S%; 6/1/12-5%; 6/1/13-5%; 6/1/14-5%; and 6/1/15-10%, then the increase within the last twelve (12) months (10%) would be greater than the average of the increases imposed over the entire five year period (6%). b. The Program Manager may allow for greater increases in rent charges during the twelve (12) months immediately preceding the date of submission of the Owner's Program Application and continuing through the date of the Loan Agreement reasonably justified by capital improvements or upgrades made to the subject rental units other than the installation of the Automatic Sprinkler System. B. Pro�ram Loan Commitment Letter. 1. If the Program Manager determines that the proposed cost for design, purchase and/or installation of the Automatic Sprinkler System for the Eligible Building is satisfactory and eligible for reimbursement through a Program Loan, that the Owner qualifies under the Program's Rent Stabilization requirements, and that adequate Program Loan Funds are available, then the Owner will be given a Program Loan Commitment Letter. The amount specified in the Program Loan Commitment Letter may not exceed $5.00 per square foot (gross square footage) of the Eligible Building unless the Program Manager approves a greater amount due to unusual circumstances. The Loan Term, based on the amount of the requested Program Loan, shall also be specified. 2. The Program Loan Commitment Letter will assure the Owner that Program Loan Funds will be reserved for a Program Loan to the Owner in the amount and for the length of time specified in the Program Loan Commitment Letter. If prior to the Program Loan Commitment Expiration ATTY/RES03085/CC RESO—RWC FIRE SAFETY FIRST PILOT PROGRAM—ATTACHMENT A REV:07-22-15 VR Page 7 of 9 OAK#4837-7968-0037 vl 7 RESO.#15428 MUFF#705