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Oglesby Promissory Agreement - 9919 S Oglesby Ave, Chicago, IL 60617.pdf

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Promissory Agreement for Release of Withheld Funds Agreement Date: July 18th, 2025 Property Address: 9919 S Oglesby Ave, Chicago, IL 60617 ​ Parties: This Promissory Agreement ("Agreement") is entered into by and between: ●​ Lofty Holding 9919 S Oglesby Avenue DAO LLC H.T.T.A. Lofty Holding 9919 S Oglesby Avenue LLC ("DAO"), a limited liability company representing the tokenized owners of the property at 9919 S Oglesby Ave, Chicago, IL 60617, acting through its authorized representative(s) as de

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Promissory Agreement for Release of Withheld Funds
Agreement Date: July 18th, 2025
Property Address: 9919 S Oglesby Ave, Chicago, IL 60617
​
Parties:
This Promissory Agreement ("Agreement") is entered into by and between:
●​ Lofty Holding 9919 S Oglesby Avenue DAO LLC H.T.T.A. Lofty Holding 9919 S Oglesby
Avenue LLC ("DAO"), a limited liability company representing the tokenized owners of the
property at 9919 S Oglesby Ave, Chicago, IL 60617, acting through its authorized
representative(s) as determined by governance vote, and
●​ Yhome Nursing LLC ("Yhome"), a limited liability company organized under the laws of
Florida, with its principal place of business at 52 Point Pleasant Dr. Palm Coast, Fl,
represented by Calixte Duffaut ("Representative").
Recitals:
WHEREAS, Yhome, as the former property manager for the Property, filled the vacancy by placing
the tenant and has collected the rents from the current tenant and is withholding funds totaling
$16,969.85, derived from $21,600 in prepaid rents and $1,800 security deposit, less verified repair
costs and reimbursements to vendors ($5,620.15) and uncollected pro-rated property management
fees of ($810) for March, April, and May, as reported on June 13, 2025;
WHEREAS, the withheld funds include amounts used by Yhome to pay for additional vendor services
beyond the scope of the original property management agreement (“PMA”) and a 10% margin on
repair costs, along with which was not included or written within the original PMA;
WHEREAS, Yhome, completed emergency repairs in light of tree-falling adjacent and/or onto
property, these expenses were paid from Cal to vendors and these along with the 10% margin are
factored into the disbursement payment.
WHEREAS, Yhome, acknowledges that they did not originally have a 10% markup fee in their
Property Management Agreement, the intent was to match the 10% markup fee seen in the Aligned
PMA to the entirety of the Chicago portfolio.
​
WHEREAS, Yhome has agreed to release $16,969.85 of the withheld funds to the DAO’s bank
account, derived from $21,600 in prepaid rents and $1,800 security deposit, less verified repair
costs and reimbursements to vendors plus the 10% margin on repairs ($5,620.15), and less pro-rated
property management fees for March, April, and May ($810 total), as settled in discussions with the
DAO & Cal on July 8th, 2025;

​
WHEREAS, the DAO, through a governance vote requiring a 60%+ supermajority, seeks to resolve
this matter expediently to restore liquidity and ensure operational stability;
NOW, THEREFORE, in consideration of the mutual promises and covenants herein, the Parties agree
as follows:​
1. Definitions
1.1. "Withheld Funds" means the sum of $16,969.80 currently held by Yhome.
1.2. "Payment" means the one-time repairs, maintenance and PM fees, representing repair costs;
payment is to be derived from the rents collected.
1.3. "Property" means the real property located at 9919 S Oglesby Ave, Chicago, IL 60617.
1.4. “DAO” stands for Decentralized Autonomous Organization.​
2. Obligations of the DAO
2.1. The DAO shall allow Yhome to receive tenant’s one (1) year of rent in the amount of ($21,600)
plus $1,800 in security deposit payable to the DAO and deduct $5,620.15 in reimbursements and
$810 in PM fees out of said funds withheld by Yhome on the Effective Date of this Agreement.​
2.2. The Payment is a one-time reimbursement including fees solely for the costs incurred for the
Property.​
2.3. The DAO warrants that this Agreement is authorized by a governance vote.​
3. Obligations of Yhome
3.1. Upon execution of this Agreement, Yhome shall release the Net Funds ($16,969.85) to the
DAO’s designated account within three (3) business days.
3.2. Yhome agrees that the Deduction constitutes full and final compensation for its role in
facilitating property management and repairs and maintenance, and that no additional fees or
claims related to this transaction or the Property shall be sought.​
3.3. Yhome warrants that it has full authority to release the Net Funds and the security deposit.​
4. Scope and Limitation
4.1. This Agreement is limited to the one-time agreement for the specified vendor services and 10%
repairs and maintenance margin for the Property and does not extend to other transactions or
properties.​