Lasalle Park Homes Inc.

“Lasalle park homes, inc. Is managed by bradley residential management corporation, a professional property management company. Bradley residential management corporation has a project owner's and management agent's certification for multifamily housing projects with the u.s. Department of housing and urban development. Under this certification, hud has approved bradley residential management corporation to manage the lasalle park homes apartment community. The management contract encompasses the day to day operations of the project including, but not limited to, collection of rents, maintenance of facilities, supervision of staff, and ongoing support for both the owners and tenants as needed in order to establish a safe, sanitary and affordable environment.”

“Any incoming member must agree to be bound by note, mortgage, security agreement, regulatory agreement, and other documents required in connection with the hud insured loan, to the same extent and the same terms as other members.”

“The board of directors shall be elected at the annual meeting provided in this article 4 of this code of by-laws. Each member of the board of directors shall serve for a term of three years or until a successor is elected and qualified, or until the member has resigned or been removed, with elections staggered in such a fashion that approximately an equal number of directors are elected each year. Incumbent directors shall be eligible for re-election and the number of years a person may serve as a director is not limited.”

“The business, property and affairs of the corporation shall be managed and controlled by a board of directors as from time to time constituted. The power to make, alter, amend or repeal the by-laws is vested in the board of directors, which power shall be exercised by affirmative vote of a majority of the directors provided that the proposed amendment shall be included in the notice of such meeting.”

“The auditing firm sends a draft of the return to the management company. The management company forwards a copy of the return to each board member for their comments prior to filing.”

“Board members sign off on the policy and abstain from any voting where a conflict might exist.”

“The management company's policy is for directors to submit compensation recommendations which must be approved by the management company's vice president and president.”

“The form 990 and all related financial and policy information is made available to the public upon written request.”

“All of the officers, directors, and employees listed in part vii, section a perform similar duties and have similar responsibilities for related organizations as they do for this organization. Their total hours worked per week for this organization are similar to their hours worked for related organizations both in terms of number of hours and type of work performed.”

“The management company receives a copy of the audit. Prior to the finalization of the audit, a copy of the audit is given to all of the board members for their comments. When the audit is up for bid, the board discusses the relationship with the current auditors and makes a determination as to whether to maintain this relationship or change to a new auditing firm.”