Property Transition Plan
P and L Ventures, LLC will work with the lender to ensure a smooth transition process to reduce disruption to ongoing operations, maintain tenant satisfaction, produce results and achieve an effective communication flow between all parties. Once appointed as the Receiver, P and L Ventures, LLC, will provide a basic preliminary Property Report and pictures to the Assigner within the first week.
Listed below is a Transition Schedule and Compliance Report that will drive the smooth seamless takeover of the property.
| Within 2 Weeks | Within 4 Weeks | Going-Forward |
|---|---|---|
| Lease analysis, Building and Property Condition Report, Tenant Information/Review | Financial accounting take-over completed. | Monthly Financials Quarterly Financials |
| Notification of all vendors, tenants, and property banking institutions | Working Budget completed with cash need analysis, repairs, occupancy report, and leasing plan | Follow Action Plan Establish Procedures & Policies Maintain Budget |
| Action Plan for the Property | Vendor bidding, maintenance and repairs begin | Report Rents and Profits Statements |
Identify what services are necessary for Going-Forward with the lender:
Real Estate Management, Construction Management,
General Contracting, Construction Services,
and Chapter 11 bankruptcy Trustee Services.