KAREIC NPO Capital REO PROCEEDURE * CASH Funding Agreement * Bank will prepare contract (usually takes about 2 weeks) * Standard RE escrow must close in less than 15-30 days FUNDING AGREEMENT * NPO Non Profit Origination 501 (c)(3) involved in Community Stabilization and Restoration Programs * Target end user is low to moderate income and first time buyers up to 50%-120% of area mean income * Funding Partner will fund NPO to acquire the property * Funding Partner protected by a note &deed of trust thru escrow * NPO must remain on Title until sold or 105 day, whichever occurs first * Funding Partner has full control of the property and is responsible to manage, rehab, market and resale * Sale to General Public OK if low to moderate demographic does not exist in the property area * NPO must report to the Bank rehab process and resale to the end user This is the best protocol below: • Select properties of interest (higher end properties seem to have the best opportunity for a profit margin) • Return properties to me by email • We will request pricing and request that the properties be reserved (first come first serve) • If property is available we will get word within 48 hours • Pricing takes 3 to 10 days • Once price is received, inspect the property • Accept or decline property • If accept. contract will be created between Homes That Change Lives and Capital Partner (investor) • Beginning to end generally takes 2 to 4 weeks to close Contact www.JPark7777@aol.com Kareic Real Estate and Investment