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07/27/2015 7.3.A. - Page 10 Program's Rent Stabilization requirements, and that adequate Program Loan Funds are available. U, "Program Loan Documents"shall mean all documents required from the Borrower as a precondition to the granting of a Program Loan and shall include a Loan Agreement, Promissory Note and Deed of Trust on forms prepared by and acceptable to the Program Manager. V. "Program Loan Fund" means the City fund established by the City Council for Program Loans. W. "Program Manager"means the City Manager, or their designee, in their capacity as the City representative charged with the authority and responsibility to supervise the Program in all its aspects. X. "Promissory Note" shall mean the promissory note through which the Borrower shall promise to repay the City for the Program Loan should the Borrower fail to perform their Rent Stabilization obligations under their Loan Agreement. Y. "Program Loan Priority" means the priority assigned to an Owner's Program Application at the time it is submitted and establishes an Owner's place in line to receive a Program Loan from the limited Program Loan Fund. Z, "Rent Stabilization" refers to that aspect of the Program whereby the qualified Borrower voluntarily agrees not to increase the rents in an Eligible Building more than an agreed percentage in exchange for the forgiveness of their Program Loan at the end of the Loan Term. AA. "Reserved Program Loan Funds" means the Program Loan Funds as determined by the Program Manager available to an eligible Owner for a Program Loan and specified in a Program Loan Commitment Letter. II. PROGRAM OVERVIEW. A. The Program was established by the City Council pursuant to Resolution No. adopted on , 2015. ATTY/RE50.3085/CC RESO—RWC FIRE SAFETY FIRST PILOT PROGRAM—ATTACHMENT A REV:07-22-15 VR Page 4 of 9 OAK#4837-7968-0037 v1 4 RESO.#15428 MUFF#705