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Proposal to Approve Property Manager Transition and Long-Term Buyout Agreement - 49 Bannbury Ln Palm Coast, FL 32137.docx

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Description

Organizational Resolution of the Members of Cherry LFTY0412 DAO LLC T o Approve Property Manager Transition and Mortgage Agreement Subject Property: 49 Bannbury Ln, Palm Coast, FL 32137 (Parcel ID 07-11-31-7012-00060-0250 ) This Organizational Resolution seeks to settle the dispute between Cherry LFTY 0412 DAO LLC and Yhome Nursing LLC c/o Calixte Duffaut , the former owner and PM of 49 Bannbury Ln, Palm Coast, FL 32137 (the “Property”). This resolution is presented to Cherry LFTY0412 DAO LLC (t

Extracted Content

Organizational Resolution of the Members of Cherry LFTY0412 DAO LLC T o Approve Property Manager Transition and Mortgage Agreement Subject Property: 49 Bannbury Ln, Palm Coast, FL 32137 (Parcel ID 07-11-31-7012-00060-0250 ) This Organizational Resolution seeks to settle the dispute between Cherry LFTY 0412 DAO LLC and Yhome Nursing LLC c/o Calixte Duffaut , the former owner and PM of 49 Bannbury Ln, Palm Coast, FL 32137 (the “Property”). This resolution is presented to Cherry LFTY0412 DAO LLC (the “DAO” or “Seller”) to address ongoing challenges the Property, approve a transition of the Property Manager (PM) role from Whalec Property Management to ECO Systems LLC, and authorize a long-term buyout agreement with Calixte Duffaut (the “Buyer”), including a $ 5 ,000 capital call to cover up-front expenses. Background: The Property has faced significant obstacles to typical transition and rental operations due to unauthorized activities by the occupant, Calixte Duffaut (representing Yhome Nursing LLC), including withh olding rents , trespass ing, and vandalizing the property . These issues have delayed financial recovery for DAO investors. The Buyer has expressed interest in a long-term