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C. Term: <br /> The term of this Agreement shall commence on December 1, 2000, at midnight and <br /> terminate on December 31, 2005, at midnight. Except as provided in this Agreement, the <br /> rent in effect on January I, 2005, shall remain in full force and effect through December <br /> 31, 2005, and shall constitute the base rent upon which a rent increase will be added on <br /> January 1, 2006. This Agreement may be extended for a similar term, or any term <br /> acceptable to all parties to this Agreement, provided that any extension will be in writing <br /> and signed by all the parties hereto. <br /> D. Annual Rase Rent Increases; <br /> The base monthly rent shall be increased by the greater of three percent (3.0 %) of the <br /> then existing base monthly rent, or seventy five percent (75 %) of the annual percentage <br /> increase in the Price Index on the following dates: <br /> - January 1, 2001 <br /> January 1, 2002 <br /> - January 1, 2003 <br /> - January 1, 2004 <br /> - January I, 2005 <br /> E. Additional Factors; <br /> In addition to the annual base rent increases as set forth in Subsection "D" above, rent <br /> and /or other charges may be increased or separately assessed in compliance with the <br /> conditions set forth in Articles 4 and 4.5 of the Mobilehome Residency Law Civil Code <br /> Sections 798.30 through 798.49, as set forth below. <br /> 1. Government or Quasi - Government Mandated Costs, Rent increases resulting <br /> from Government or Quasi - Govemment mandated costs, as more fully described <br /> in Subsection a. and b. below, once assessed, are rent and would become part of <br /> the base rent. <br /> a. Base monthly rent shall be increased in the amount that property taxes are <br /> increased in excess of two percent (2 %) over those property taxes paid by <br /> the Park during the twelve (12) month period immediately preceding the <br /> date the property tax increase is assessed, divided by twelve (12) and pro- <br /> rated among the actual number of mobilehome spaces in the Park. The <br /> term property taxes includes all general and special real estate taxes and <br /> personal property taxes. Property taxes also includes any tax or excise on <br /> rents or any other tax, however described, which is levied or assessed <br /> against the Park as a direct substitution in whole or in part for any real <br /> property taxes. <br /> 3 <br /> '79 <br />