Project Scope: The Company will acquire the apartment community known as Hampton Bay located in Bradenton Florida for the purpose of converting the current rental units into condominiums. Each unit will require minimal interior upgrades including flooring, paint and in some cases appliances and/or countertops. Exterior work will be done to increase curb appeal and will include landscape upgrades, siding repair, painting and some units will require new roofing.

Current Stage: Shoreline Holdings, LLC has secured exclusive negotiations with the seller based on the financial strength of The Company. The subject property is in good condition and ready for conversion.

Project Term: The estimated term of the project will be 12-18 months. From acquisition, the legal process of converting the units into condominiums will take 6 months. During this time, The Company will begin the exterior renovation immediately following closing and will renovate the individual units as the existing tenants' leases expire and the units become vacant. The units will be offered for sale to the existing tenants on a first right of refusal during the 45 days immediately following closing. Those tenants electing to purchase their units will do so in as is condition with no improvements. Tenants electing not to purchase their unit will receive a notice to vacate upon expiration of their lease. Following the 45 day right of refusal for existing tenants, the units will be marketed for sale to the public by reservation agreement. These reservation agreements will become contracts upon completion of the conversion process at the end of the sixth month following acquisition. By the 18th month, all units are projected to be sold out, all tenants will have vacated, condominium unit closings will be completed and the project retired.

Project Management: The Company has the on site management in place to complete the entire conversion process from acquisition to final disposition of end product. In addition to local management, The Company has the contractor, termite inspector, surveyor, engineer, legal team, appraiser, environmental analyst and resale teams in place and ready to move forward.

Existing Property Staff: Upon successful acquisition of a targeted property, The Company will evaluate the property's current employees. The Company will retain those employees who are necessary for smooth operation during the conversion process. Positions such as maintenance crew, life guards, day care attendants and security guards may be retained and ultimately absorbed into the condominium association.