LLC Outline of Sawgrass Partners Inc.

Organization
Florida Corporation

General Partner
Sawgrass Partners Inc. or an affiliate

Purpose
Generate high absolute rates of return through an investment in commercial real estate.

Qualified Investors
Individual or corporate investors who can provide $200,000 cash or land equivalent.

Scheduled Funding of Commitments
Investor is required to contribute the capital and to execute any required guaranty of indebtedness.

Reporting
Quarterly status reports; annual audited financial statements within 120 days of the investment’s year end; tax returns.

Termination of the Investment
Disposition or sale of each asset is projected to be three to seven years from the date of closing.

Improved Property Distribution
A preferred return is paid to the investor after expenses. The cash flows after the preferred return are split according to the terms of the Partnership Agreement. At asset disposition, expenses are paid and the investors receive their capital. Profits are then split according to the terms of the Partnership Agreement.

Unimproved Property Distribution
At asset disposition, expenses are paid and investors receive their capital. The investor is first paid a preferred return, then profits are split according to the terms of the Partnership Agreement.