Recording Requested by
and When Recorded, Return to:
City of Rancho Cordova
2729 Prospect Park Drive
Rancho Cordova, CA 95670
Attention: City Clerk
EXEMPT FROM RECORDING FEES PER
GOVERNMENT CODE §§6103, 27383
Il 111111111111111111111111111111111111 11111
Sacramento County
Donna Allred, Clerk/Recorder
�c# 202306280546
6/28/2023 12:02:26 PM
BML
Titles 1
Pages 23
fees
Taxes
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Paid
(SPACE ABOVE THIS LINE RESERVED FOR
RECORDER'S USE)
MOBILE HOME PARK MEMORANDUM OF UNDERSTANDING
THIS MOBILE HOME PARK MEMORANDUM OF UNDERSTANDING (the "MOU") is/ entered into as of June 1, 2023 ("Effective Date") by and among the CITY OF RANCHO CORDOVA (the "City"), a California municipal corporation, and the owners ("Owners") of the mobile home parks ("Parks") identified on Exhibit A. Each individual Owner of a park will execute a substantively identical version of the MOU. This copy of the MOU is executed by the Owner of that Park commonly known as: Mobil Country Club ("Park").
RECITALS
This Agreement will be between the City and each park within the City of Rancho Cordova and shall contain substantively identical terms for each park.
This Agreement shall only be effective if all park owners within the City of Rancho Cordova enter into an agreement with the City; the Effective Date of this Agreement shall be when the last park owner in the City signs an Agreement with the City.
In order to avoid the negative consequences of a rent stabilization ordinance, including potential costly litigation and to maintain cordial relationships with their tenants, the Owners have agreed to attempt to negotiate a memorandum of understanding with the City that will (I) apply the provisions of this MOU to all existing tenants including good faith efforts to offer to amend the CPI formula rent increase provisions in any existing long term lease to conform to the terms of this MOU; and (2) waive during the term of this MOU any right an Owner would have had under a rent stabilization ordinance to apply for a Vega adjustment or an individual rent increase to maintain a fair return. In the event the Park becomes subject to a rent stabilization law or ordinance at some point after the Effective Date of this MOU, nothing in this MOU shall prevent Owner from applying for any rent increase Owner may be entitled to, including a Vega adjustment and/or a fair return adjustment.
RANCHO CORDOVA MOU April 17, 2023 P.l
Contract No: 2023-77
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