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.