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22164_Umland_Organizational_Resolution_Agreement.docx

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Description

ORGANIZATIONAL RESOLUTION AGREEMENT BEAGLE LFTY0454 DAO LLC Regarding 22164 Umland Circle, Jenner, CA 95450 Date: June 10, 2026 Property: 22164 Umland Circle, Jenner, CA 95450 APNs: 109-420-030-000 and 109-420-031-000 County: Sonoma County, California RECITALS WHEREAS, Beagle LFTY0454 DAO LLC (the "DAO") is the legal owner of the real property located at 22164 Umland Circle, Jenner, CA 95450 (the "Property"); WHEREAS, the Property is currently subject to a first position lien in the approximate

Extracted Content

ORGANIZATIONAL RESOLUTION AGREEMENT BEAGLE LFTY0454 DAO LLC Regarding 22164 Umland Circle, Jenner, CA 95450 Date: June 10, 2026 Property: 22164 Umland Circle, Jenner, CA 95450 APNs: 109-420-030-000 and 109-420-031-000 County: Sonoma County, California RECITALS WHEREAS, Beagle LFTY0454 DAO LLC (the "DAO") is the legal owner of the real property located at 22164 Umland Circle, Jenner, CA 95450 (the "Property"); WHEREAS, the Property is currently subject to a first position lien in the approximate amount of $785,000 and is facing foreclosure with an auction date of June 10, 2026; WHEREAS, the Members of the DAO have determined that it is in the best interest of the DAO to secure additional capital to prevent foreclosure and preserve the Property; WHEREAS, Jimmy Murray, a Member of the DAO, has agreed to purchase equity in the DAO at $25.00 per share for a total investment of $104,000.00 (representing 4,160 shares); WHEREAS, as additional security for Jimmy Murray's investment, the DAO has agreed to grant a second position lien on the Property in the amount of $208,000.00, guaranteeing a 100% return on equity in the event of a sale above the combined lien amounts; WHEREAS, Kraig Clark,