INVESTMENT PROPERTY: ASSISTED LIVING OR RESIDENTIAL HEALTH CARE

OLD MILL MANOR

Assisted living or Residential Health Care
57 Units w/Dining Parlor, Social & Jacuzzi Rooms.
Land area 1.56 Areas
Walking distance to R.R. & Bus Lines Direct to NYC.

Very Upscale Community
Also very close to the Shore, & Airports Traveling East & West
North & South on Major Interstate Highways to get there.

This property is centrally located in Bernardsville, New Jersey (see map). The Approvals secured on this property are at the option of the developer. The project could either be "Assisted Living Residence" or "Residential Health Care Facility" with no age restriction. A copy of the approved resolution will be supplied upon request.

The site work is approximately 80% completed, inspected and approved.

The foundation is completed, inspected and approved. The first floor maonry wall of the front building is completed, inspected and approved. There are many other items that have been completed, inspected and approved.

Certain design plans for other phases of this building are presently being reviewed by the NJDCA. That agency is the reviewing arm of the State of New Jersey. Any of the work that is completed, inspected and approved has been received by the NJDCA and the design plan was given their approval. There are remaining design plans of different component parts of this building that are presently being reviewd by the NJDCA. A blanket building permit was issued and all fees have been paid as well as any performance bond that was posted.

#1. All approvals, all construction up to January 1, 2009 on 1.56 acres within walking distance of theater, banks, restuarants, shopping and RR and bus transportation to Airports with domestic and worldwide travel.  $5,000,000.

#2. Same as description and format as above with 99 year lease at $180,000. per year, triple net, for the first three years after paying - $2,500,000.