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EI F--] Page 3of3 The commercial loan in the amount of $4,279,860 will be from First Colony Capital, Inc. We anticipate the interest rate to be approximately 7.5%. The CDBG-ED loan will be in a second position to the commercial loan on the buildings and land. Within 60 days from DCA's offer of grant award, we agree to have binding financial commitments in place for all. of our project costs. CRA Care agrees to begin final design, permitting and construction of the ALF upon the release of grant funds from the grant agency, the Florida Department of Community Affairs (DCA). The business plan includes the terms of our financial commitment related to the ALF construction and operation plans. It also provides documentation to demonstrate the need to hire 35 employees, of which 26 will be claimed for grant application scaring purposes. Our documentation is based on a review of other ALF"s of similar size. We are willing to provide any other documentation as may be needed by DCA and the County. CRA Care Centers, Inc. (CRA Care) is a subchapter -S company incorporated under the laws of the State of Florida, formed to provide services such as assisted living. I am the sole owner, director, President and CEO of CRA Care (FEI#59-3159078). Neither CRA Care nor I personally have any business or personal interests associated with any elected official or employee of Indian River County. CRA Care is not owned by, and does not have ownership in, any other corporation or business. CRA Care Centers, Inc. will utilize engineering services of CRA Engineering, Inc. for design and implementation of the site development work and the necessary water and sewer extensions, and will use the administrative services of CRA Consulting, Inc. for functions such as book keeping and personnel management. I am the sole owner of both of these Florida for profit corporations. Neither I nor any of the CRA corporations have ever declared bankruptcy. As sole principal of CRA Care Centers, Inc., I will personally guarantee the CDBG loan. Additional information required by the County or DCA will be furnished by me and/or CRA Care as necessary. I wish to thank the Indian River County Hoard of County Commissioners, and its dedicated staff, for supporting this project. Your efforts are appreciated. I look forward to completing this project which will benefit the county through increased local employment, an increase in the property tax base and other government revenues, spin off business, and a stabilizing development in the neighborhood in which the project will be located. Sincerely, X2 (Vd)t W. H. Bud Clark President, CRA Care Centers, Inc.