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Re 1258 Lily Street American Title Solutions - Ohio 3 Property Package, Akron, Ohio 44117.pdf

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From: Jerry Chu jerry@lofty.ai Subject: Re: 1258 Lily Street Date: August 8, 2025 at 9:40 AM To: Earl Co ecosystemspm@gmail.com Cc: Sierra MacPherson sierra@americantitlesolutions.com, Amanda Pospisil apospisil@americantitlesolutions.com, Michael Magno michael@themagnogroup.com, William Sebastian admin@themagnogroup.com, Diana Magno Diana@themagnogroup.com, Max Ball max@lofty.ai To add to Earl's responses, please refer to my earlier email message with the following: There are no member names or

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From: Jerry Chu jerry@lofty.ai
Subject: Re: 1258 Lily Street
Date: August 8, 2025 at 9:40 AM
To: Earl Co ecosystemspm@gmail.com
Cc: Sierra MacPherson sierra@americantitlesolutions.com, Amanda Pospisil apospisil@americantitlesolutions.com, Michael Magno
michael@themagnogroup.com, William Sebastian admin@themagnogroup.com, Diana Magno Diana@themagnogroup.com,
Max Ball max@lofty.ai
To add to Earl's responses, please refer to my earlier email message with the following:
There are no member names or traditional signatures.
This is a DAO LLC. For context, a DAO LLC is legally an LLC, but functions differently in terms of management and operations versus
traditional LLCs. Its unique way of operations is fully legal and authorized by the state of WY––the state where the entity was formed.
Learn more here: https://www.wyoleg.gov/Legislation/2021/SF0038
The executed Operating Agreement for this DAO LLC is governed by its smart contract under contract ID 920013306 and can be viewed at
the following URL–https://allo.info/application/920013306.
Unlike a traditional LLC, whose operating agreement must be executed through physical signature, all of a DAO LLC’s agreements must be
signed through its smart contract using a member’s private key from their wallet on the relevant blockchain. The transactions for this smart
contract serve as the signatures of a traditional operating agreement.
Here is a reference video on how to view the member votes/signatures on the blockchain - https://www.youtube.com/watch?
v=rdI8xwLEt6o&t=2s
Essentially, it's a multi-member LLC, where the members ratify and sign for decisions through electronic voting online, which they sign for
digitally using a unique blockchain wallet that only they have access to. Those votes are publicly available to view on the blockchain.
Using this system, these members have granted Lofty AI, Inc the right to sign as an authorized person on their behalf for the purchase and
sale of the underlying property held by the DAO LLC, but only if their was a ratified vote to purchase/sell the property.
In this specific case, there was a vote to sell the property at the represented price. They granted Lofty the legal right to sign on their behalf,
hence why we're authorized to complete this transaction.
This may be the first time you've encountered an entity like this or one that's using technology in this way, but everything is valid and legally
sound. We've signed for dozens of DAO LLCs at this point on closings and many other title companies have underwritten these transactions
with no issues.
Best,
Jerry Chu
CEO, Lofty AI
web: https://www.lofty.ai
email: jerry@lofty.ai
https://www.linkedin.com/in/jerry-chu/

On Fri, Aug 08, 2025 at 5:35 PM, Earl Co <ecosystemspm@gmail.com> wrote:
I already answered all that. I am a member of the ownership group. There's hundreds of us. It's a limited partnership syndication. The
members voted to sell. It's really not that complicated. If your title company cannot handle this, we'll use the other one we just sold
another house with on 7/25/25 without any issues.
On Fri, Aug 8, 2025, 7:55 AM Sierra MacPherson <sierra@americantitlesolutions.com> wrote:

Hello,

Please see response from my underwriting counsel:
“Who is the ownership group? The email below states, “Jerry and Max are the executives of Lofty AI Inc, which has managerial
authority per the Operating Agreement of the holding entity.” Yet Lofty AI has managerial authority to purchase. Authority sell is vested
in the members. “

“Who is Earl Co? “

Thank you,

From: ECO Systems LLC <ecosystemspm@gmail.com>
Sent: Thursday, August 7, 2025 4:16 PM
To: Sierra MacPherson <sierra@americantitlesolutions.com>
Cc: Jerry Chu <jerry@lofty.ai>; Amanda Pospisil <apospisil@americantitlesolutions.
com>; Michael Magno <michael@themagnogroup.com>; William Sebastian <admin@
themagnogroup.com>; Diana Magno <Diana@themagnogroup.com>; Max Ball <max@
lofty.ai>
Subject: Re: 1258 Lily Street
I’m a member of the holding entity that title is currently vested in, which operates similarly to a trust. I am a beneficiary elected by the
ownership group to coordinate this transaction.

Jerry and Max are the executives of Lofty AI Inc, which has managerial authority per the Operating Agreement of the holding entity.
The previously-attached document has been executed which answers the questions from your underwriting department.

On Aug 7, 2025, at 2:09 PM, Sierra MacPherson <sierra@americantitlesolutions.com> wrote:

Hello,
Please see below from our underwriting department: