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07/27/2015 7.3.A. - Page 15 verified by the Program Manager,or five percent(5%), whichever is lower. 3. The Program Manager may allow for greater increases in rent charges during any twelve (12) months reasonably justified by capital improvements or upgrades made to the subject rental units other than the installation of the Automatic Sprinkler System. 4. The Borrower must submit a written statement to the Program Manager annually verifying that rents in the Eligible Building have not increased in violation of the Loan Agreement and this Program. The written statement shall be on a form provided by the Program Manager. 5. If the Program Manager determines that a violation has occurred in breach of the Loan Agreement, the Borrower is entitled to an informal hearing before the City Manager or the City Manager's designee to provide evidence why a breach of the Loan Agreement has not occurred. The Borrower must provide a request in writing to the City Clerk no later than fifteen (15) calendar days after the Program Manager's written determination. The determination of the City Manager (or the City Manager's designee) shall be final. 6. If the Borrower violates the terms of the Loan Agreement, the entire Program Loan with accrued interest shall be due in full within ninety (90) days of the City Manager's or his designee's final determination, and the City shall have all of the remedies provided for at law or equity, including but not limited to all rights and remedies under the Deed of Trust. 7. If the Borrower complies with all terms of the Program Loan, then at the end of the Loan Term,the City shall forgive the deferred balance of interest and principal, the City shall cancel the Promissory Note, and the City shall reconvey the Deed of Trust. ATTY/RE503085/CC RE50—RWC FIRE SAFETY FIRST PILOT PROGRAM—ATTACHMENT A REV:07-22-15 VR Page 9 of 9 OAK#4837-7968-0037 vl 9 RESO.#15428 MUFF#705