# EDGAR Filing Document

**Accession Number:** 0002033610
**File Stem:** 0001213900-25-092917
**Filing Date:** 2025-9
**Character Count:** 350222
**Document Hash:** 3f7599589754cc8f380328f10b110322
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-092917.hdr.sgml**: 20250929

**ACCESSION NUMBER**: 0001213900-25-092917

**CONFORMED SUBMISSION TYPE**: 1-SA

**PUBLIC DOCUMENT COUNT**: 29

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250929

**DATE AS OF CHANGE**: 20250929

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Wahed Real Estate Series 1 LLC
- **CENTRAL INDEX KEY:** 0002033610
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE [6500]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 993337084
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 1-SA
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 24R-00982
- **FILM NUMBER:** 251355051

**BUSINESS ADDRESS:**
- **STREET 1:** 27 EAST 28TH STREET
- **STREET 2:** 8TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10016
- **BUSINESS PHONE:** 817-657-7612

**MAIL ADDRESS:**
- **STREET 1:** 27 EAST 28TH STREET
- **STREET 2:** 8TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10016

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 1-SA**

⌧ **SEMIANNUAL REPORT PURSUANT TO REGULATION A**

**or**

◻ **SPECIAL FINANCIAL REPORT PURSUANT TO REGULATION A**

For the fiscal semiannual period ended: <u>June 30, 2025</u>

**WAHED REAL ESTATE SERIES 1 LLC**

(Exact name of issuer as specified in its charter)

---

| | |
|:---|:---|
| **Delaware** | **99-3337084** |
| (State or other jurisdiction of<br> incorporation or organization) | (I.R.S. Employer <br> Identification No.) |

---

**27 East 28th Street, 8th Floor**

**New York, New York 10016**

(Mailing Address of principal executive offices)

**817-657-7612**

Issuer's telephone number, including area code

*In this Report, the terms "Wahed Real Estate," "we," "us, "our," the "company" and similar terms refer to Wahed Real Estate Series 1 LLC, a Delaware Series Limited Liability Company, together with its consolidated Series established by Wahed Real Estate Series 1 LLC; "Wahed Financial" or the "Manager" refers to the company's parent and Managing Member, Wahed Financial LLC, together with its consolidated subsidiaries unless the context indicates otherwise.*

 

*This Report may contain forward-looking statements and information relating to, among other things, the company, its business plan and strategy, and its industry. These forward-looking statements are based on the beliefs of, assumptions made by, and information currently available to the company's management. When used in the Report, the words "estimate," "project," "believe," "anticipate," "intend," "expect" and similar expressions are intended to identify forward-looking statements, which constitute forward-looking statements. These statements reflect management's current views with respect to future events and are subject to risks and uncertainties that could cause the company's actual results to differ materially from those contained in the forward-looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. The company does not undertake any obligation to revise or update these forward-looking statements to reflect events or circumstances after such date or to reflect the occurrence of unanticipated events.*

 

**Item 1. Management's Discussion and Analysis of Financial Condition and Results of Operations**

You should read the following discussion and analysis of the company's financial statements and financial condition and results of its operations together with its unaudited consolidated and consolidating financial statements and related notes included in this report as well as our audited consolidated and consolidating financial statements found in our Annual Report on Form 1-K filed with the SEC on April 29, 2025. The following discussion contains forward-looking statements that reflect our plans, estimates, and beliefs. Our actual results could differ materially from those discussed in the forward-looking statements. Unless otherwise indicated, the latest results discussed below are as of June 30, 2025. The consolidated and consolidating financial statements included in this filing as of and for the six months ended June 30, 2025 are unaudited, and may not include year-end adjustments necessary to make those financial statements comparable to audited results, although, in the opinion of management, all adjustments and disclosures necessary for a fair presentation of the unaudited consolidated financial statements have been included. The results of operations for the six-months ended June 30, 2025 are not necessarily indicative of the results that may be expected for the full year.

**Overview**

Wahed Real Estate was formed on May 14, 2024 ("Inception") in the state of Delaware. The company was formed to enable public investment in residential rental properties, each of which will be held directly or indirectly by a separate Series of limited liability interests, or "Series," of the company.

Wahed Financial entered into a purchase contract with an unaffiliated third party on June 30, 2024 for the purchase of a residential property located at 41210 Paign Dr., Sterling Heights, MI (the "Paign Drive Property") for a purchase price of $260,000 plus prorated property taxes and water bills from July 5, 2024 plus a $595 compliance/transaction fee. On August 26, 2024, the company established Series Paign Drive for the purposes of acquiring the Paign Drive property. Wahed Financial initially purchased the Paign Drive property in August 2024 and, in May 2025, transferred the property to Series Paign Drive in exchange for $141,600 in cash and an interest-free loan from Wahed Financial of $127,266, plus a loan management fee determined on an arms-length basis, representing the $260,000 property purchase price plus $4,200 in acquisition expenses and $4,666 in property improvement expenses. On April 9, 2025, the Paign Drive property was leased to a renter under a two-year lease for a monthly rent of $2,100.

In March 2025, Wahed Financial completed the acquisition of a residential property located at 6724 Lake Overlook Dr., Fort Worth, TX (the "Lake Overlook Drive Property") for a purchase price of $374,900 plus closing costs, including prorated property taxes. On May 23, 2025, the company established Series Lake Overlook Drive for the purposes of acquiring the Lake Overlook Drive property. Wahed Financial intends to transfer the property to Series Lake Overlook Drive once sufficient funds from the company's Regulation A offering have been tendered to the company. The purchase price is expected to be $374,900 plus reimbursement of the Manager's acquisition expenses, estimated at $6,500, and, to the extent incurred by the Manager prior to its sale of the property to the Series, any property improvement expenses. The Manager rented the Lake Overlook Drive Property on June 1, 2025 for one year, automatically renewing on a month-to-month basis unless terminated, for a monthly rent of $2,600.

On September 8, 2025, Wahed Financial completed the acquisition of a residential property located at 8820 Waynick Drive, Raleigh, NC (the "Waynick Drive Property") for a purchase price of $435,000 (reflecting sales credits) plus closing costs. On September 25, 2025, the company established Series Waynick Drive for the purposes of acquiring the Waynick Drive property. Wahed Financial intends to transfer the property to Series Waynick Drive once sufficient funds from the company's Regulation A offering have been tendered to the company. The purchase price is expected to be $435,000 plus reimbursement of the Manager's acquisition expenses, estimated at $10,324, and, to the extent incurred by the Manager prior to its sale of the property to the Series, any property improvement expenses. Wahed Financial has engaged a third-party property manager for compensation equal to 8% of gross rent payable quarterly in advance. The Waynick Drive property was rented in August 2025 for a monthly rent of $3,425 for a term of three years. Under a Value Share Agreement that the seller of the Waynick Drive property assigned to Wahed Financial, the tenant has been granted a one-time right to purchase the property at the expiration of the three year term for a purchase price equal to the greater of the current market value or the initial home value of $435,000, less an adjusted value share payment. The adjusted value share payment would be equal to the original option payment of $21,700 plus 50% of the appreciation in the value of the property or minus 5% of the depreciation in the value of the property. The terms of the lease and the Value Share Agreement may be extended for up to two years, with an adjustment to the monthly rental payment.

Wahed Financial is the company's Manager. As the company's Manager, it will manage the company's day-to-day operations. Wahed Financial is also the managing member of each Series.

**Going Concern**

The company's consolidated and consolidating financial statements have been prepared on a going concern basis, , which contemplate the realization of assets and the satisfaction of liabilities in the normal course of business. The company is a business that has recently commenced its principal operations, plans to incur significant costs in pursuit of its capital financing plans, and is dependent upon its Manager and its affiliates for continued funding of its cash flow needs. The company has an accumulated deficit of $32,180, has generated a loss of $11,899 for the six months ended June 30, 2025, and has limited liquid assets to satisfy its obligations as they come due with cash of $5,917 against current liabilities of $404,887 as of June 30, 2025. These factors, among others, raise substantial doubt about the ability of the company to continue as a going concern for a reasonable period.

The company's ability to continue as a going concern in the next twelve months is dependent upon its ability to obtain capital financing from investors sufficient to meet current and future obligations. No assurance can be given that the company will be successful in these efforts.

**Results of Operations** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the six months ended June 30, 2025<br> (unaudited)** | **For the six months ended June 30, 2025<br> (unaudited)** | **For the six months ended June 30, 2025<br> (unaudited)** | **For the six months ended June 30, 2025<br> (unaudited)** |
|  | **Series<br> Paign Drive** | **Series Lake<br> Overlook<br> Drive** | **Unallocated** | **Consolidated** |
| **Revenues** |  | $— | $— | $— |
| &nbsp;&nbsp;&nbsp;Revenue from operations | $4200 | - | - | 4200 |
| **Total Revenues** | 4200 |  |  | 4200 |
| **Operating expenses** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Bank charges | 234 |  | 153 | 387 |
| &nbsp;&nbsp;&nbsp;Depreciation | 1313 |  |  | 1313 |
| &nbsp;&nbsp;&nbsp;Commission fee | 2100 |  |  | 2100 |
| &nbsp;&nbsp;&nbsp;Property management fees | 420 |  |  | 420 |
| &nbsp;&nbsp;&nbsp;Asset management fees | 241 |  |  | 241 |
| &nbsp;&nbsp;&nbsp;Repairs and maintenance | 1727 |  |  | 1727 |
| &nbsp;&nbsp;&nbsp;Insurance charges | 881 |  |  | 881 |
| &nbsp;&nbsp;&nbsp;Professional fees | 500 | 50 | 6300 | 6850 |
| **Total operating expenses** | $**7416** | $**50** | $**6300** | $**13919** |
| **Loss from operations** | **(3216)** | **(50)** | **(6453)** | **(9719)** |
| **Other income / (expense)** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Loan facility fees (net) | 42 |  | (2222) | (2180) |
| **Total other income / (expense)** | $**42** | $— | $**(2222)** | $**(2180)** |
| **Net loss** | $**(3174)** | $**(50)** | $**(8675)** | $**(11899)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the period from May 14, 2024 (inception) to<br> June 30, 2025 (unaudited)** | **For the period from May 14, 2024 (inception) to<br> June 30, 2025 (unaudited)** | **For the period from May 14, 2024 (inception) to<br> June 30, 2025 (unaudited)** | **For the period from May 14, 2024 (inception) to<br> June 30, 2025 (unaudited)** |
|  | **Series<br> Paign Drive** | **Series Lake<br> Overlook<br> Drive** | **Unallocated** | **Consolidated** |
| **Revenues** | $— | $— | $— | $— |
| &nbsp;&nbsp;&nbsp;Revenue from operations | - | - | - | - |
| **Total Revenues** |  |  |  |  |
| **Operating expenses** |  |  |  |  |
| **Total operating expenses** | $**-** | $**-** | $**-** | $**-** |
| **Net loss** | $**-** | $**-** | $**-** | $**-** |

---

The company was formed on May 14, 2024 and has only recently commenced operations with the acquisition of the Paign Drive Property in May 2025. Revenues in the six months ended June 30, 2025 represent rental revenue generated by the Paign Drive Property. Operating expenses for the six months ended June 30, 2025, consisted primarily of professional fees of $6,850 related mostly to audit services and expenses associated with the Paign Drive property. In addition, the Manager is paid an asset management fee on a quarterly basis beginning on the first quarter end date following the initial closing date of the issuance of interests in a Series, payable quarterly in arrears, equal to 0.25% (1% annualized) of the asset value, as determined by the Manager as of the last day of the immediately preceding quarter. Series Paign Drive incurred asset management fee amounting to $241 during the six months ended June 30, 2025. Commission fees incurred in the six months ended June 30, 2025 represent a payment to the property manager for the initial lease of the Paign Drive property and are not expected to recur until a new tenant rents the property. Similarly, repair and maintenance expenses were somewhat elevated due to the age of the property and the repairs needed to prepare the property for rental.

As of June 30, 2025, the company had also recorded $149,693 of offering expenses as deferred offering costs on its consolidated and consolidating balance sheet, $12,544 of which have been allocated to Series Paign Drive and $5,000 of which have been allocated to Series Lake Overlook Drive. These deferred offering costs will be charged to members' equity upon the completion of an offering or to expense if the offering is not completed. These expenses have been funded by affiliates of the company as described below.

Loan facility fees are those incurred in connection with loans from or to the Manager or its affiliates. Currently, the rate of these fees, both those being paid by the company or a Series as well as those being paid to the company or a Series, are equal to an annual rate of 5% of the amount of the loan facility, charged on a monthly basis.

**Liquidity and Capital Resources.**

Due to its recent formation and limited operations to date, the company's assets and liabilities relate principally to the properties it has acquired, its deferred offering costs incurred to date and borrowings from related parties. The company is dependent on its Manager and its affiliates for continued funding of its cash flow needs as discussed under " – Going Concern" above.

The company had a total of $368,860 due to the Manager or its affiliates as of June 30, 2025. This amount is net of $29,964 representing offering and other expenses that were inadvertently paid by Paign Drive rather than by the company. As of June 30, 2025, $257,582 of this amount is recorded for Series Paign Drive (including funding of a portion of the purchase price of the Paign Drive property) and $5,050 is recorded for Series Lake Overlook Drive. Once the company has raised sufficient funds through the offering of Series Interests to acquire residential properties, it expects that its capital resources would be derived from operating cash flow. In addition, $34,191 (also net of $29,964 intercompany amount) was recorded as due from related parties representing the inadvertent payment by Series Paign Drive of a portion of offering expenses that had not yet been allocated to the company or any Series.

In December 2024, the company commenced offering Series Interests pursuant to Regulation A of the Securities Act of 1933, as amended (the "Securities Act"), and has raised the following funds through the issuance of Series Interests in the below Series Interests.

---

| | | | |
|:---|:---|:---|:---|
| **Series** | **Maximum<br> Series<br> Interests<br> Offered** | **Series<br> Interest<br> issued<br> through<br> September 25, 2025\*** | **Gross<br> Proceeds<br> from issued<br> Series<br> Interests<br> through<br> September 25, 2025** |
| Series Paign Drive | 3136 | 1446 | $144600 |
| Series Lake Overlook Drive | 4100 | 0 | $0 |

---

\* Does not include pending subscriptions that have not yet been accepted by the company.

Series Paign Drive purchased the Paign Drive property in May 2025 from the Manager in exchange for $141,600 in cash and an interest-free loan from Wahed Financial of $127,266, plus facility fees as discussed above. All current and future Series will be dependent on the net proceeds from their respective offering for funding to acquire their respective properties.

Other than loans or advances of funds from related parties, the company may, though it does not expect to, secure interest-free financing incurred by a Series, particularly if required to raise sufficient capital to purchase the underlying assets.

**Trend Information**

The company has recently commenced its principal operations with the acquisition of the Paign Drive Property in May 2025 and has generated limited revenue to date. The company's business and operations are sensitive to general business and economic conditions in the U.S. and worldwide along with local, state, and federal governmental policy decisions.

Recent proposals to change the international trade framework have resulted in substantial regulatory uncertainty regarding international trade and trade policy, both in the United States and abroad. The U.S. government has also instituted other initiatives that may affect our business, including a stricter immigration and deportation policy. To the extent such actions result in increased prices for goods or labor shortages and higher prices for services, our costs may be materially adversely impacted. The impact of these and any future actions on the broader US and global economy in the future is uncertain. Rising inflation, slower economic growth and increases in unemployment that may result from global trade disruptions or for other reasons could further deflate consumer demand, which may impact the housing market more broadly, reducing demand for residential housing and reducing rental rates.

A host of other factors beyond the company's control could also adversely affect our business, including but not limited to: recession, downturn or otherwise; inflation; government policies surrounding tenant rights; local ordinances where properties reside; changes in the real estate market; and interest-rate fluctuations. Adverse developments in these general business and economic conditions could have a material adverse effect on our financial condition and the results of its operations.

The company expects to incur significant additional expenses as it grows its business. The company will need significant additional capital resources to acquire properties and operate its business thereafter, which is subject to significant risks and uncertainties.

**Item 2. Other Information**

None.

**Item 3. Financial Statements**

**WAHED REAL ESTATE SERIES 1 LLC** 

**A Delaware Limited Liability Company** 

Unaudited Consolidated and Consolidating Financial Statements

As of June 30, 2025, and December 31, 2024, for the six months ended June 30, 2025, and for

the period from May 14, 2024 (inception) to June 30, 2024

See accompanying notes, which are an integral part of these consolidated and consolidating financial statements.

---

| |
|:---|
| **WAHED REAL ESTATE SERIES 1 LLC** |
| **TABLE OF CONTENTS** |

---

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| | | |
|:---|:---|:---|
|  |  | **Page** |
| **UNAUDITED CONSOLIDATED AND CONSOLIDATING FINANCIAL STATEMENTS** | **UNAUDITED CONSOLIDATED AND CONSOLIDATING FINANCIAL STATEMENTS** |  |
| **a)** | [**Consolidated and Consolidating Balance Sheets**](#k_001) | **F-3** |
| **b)** | [**Consolidated and Consolidating Statements of Operations**](#k_002) | **F-5** |
| **c)** | [**Consolidated and Consolidating Statements of Change in Members' Equity / (Deficit)**](#k_003) | **F-7** |
| **d)** | [**Consolidated and Consolidating Statements of Cash Flows**](#k_004) | **F-8** |
| **e)** | [**Notes to the Consolidated and Consolidating Unaudited Financial Statements**](#k_005) | **F-10** |

---

See accompanying notes, which are an integral part of these consolidated and consolidating financial statements.

**WAHED REAL ESTATE SERIES 1 LLC**

**CONSOLIDATED AND CONSOLIDATING BALANCE SHEETS**

**As of June 30, 2025 (Unaudited)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Series<br> Paign Drive** | **Series Lake<br> Overlook<br> Drive** | **Unallocated** | **Eliminated** | **Consolidated** |
| **ASSETS** | | | | | |
| **Current Assets** | | | | | |
| Cash and cash equivalents | $5917 | $- | $- | $- | $5917 |
| Deferred offering costs | 12544 | 5000 | 132149 |  | 149693 |
| Prepaid expenses | 629 |  | 500 |  | 1129 |
| Rent receivable | 150 |  |  |  | 150 |
| Receivable from property manager | 5100 |  |  |  | 5100 |
| Due from related parties | 64155 | - | - | (29964) | 34191 |
| **Total Current Assets** | **88495** | **5000** | **132649** | **(29964)** | **196180** |
| **Property and equipment, net**  |  |  |  |  |  |
| Real estate assets | 275759 | - | - | - | 275759 |
| **Total Property and equipment, net** | **275759** |  |  |  | **275759** |
| **Total Assets** | $**364254** | $**5000** | $**132649** | $**(29964)** | $**471939** |
| **Liabilities And Members' Equity/(Deficit)** |  |  |  |  |  |
| **Current Liabilities** |  |  |  |  |  |
| Accounts payable | $8808 | $- | $24069 | $- | $32877 |
| Tenant deposits | 3150 |  |  |  | 3150 |
| Due to related parties | 257582 | 5050 | 136192 | (29964) | 368860 |
| **Total Liabilities** | **269541** | **5050** | **160261** | **(29964)** | **404887** |
| **Members' Equity /(Deficit)** |  |  |  |  |  |
| Contributions | 99231 |  |  |  | 99231 |
| Accumulated deficit | (4518) | (50) | (27612) | - | (32180) |
| **Total Members' Equity /(Deficit)** | **94713** | **(50)** | **(27612)** | **-** | **67051** |
| **Total Liabilities and Members' Equity /(Deficit)** | $**364254** | $**5000** | $**132649** | $(**29964**) | $**471939** |

---

See accompanying notes, which are an integral part of these consolidated and consolidating financial statements.

**WAHED REAL ESTATE SERIES 1 LLC**

**CONSOLIDATED AND CONSOLIDATING BALANCE SHEETS**

**As of December 31, 2024 (Audited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Series<br> Paign Drive** | **Series Lake<br> overlook<br> Drive** | **Unallocated** | **Consolidated** |
| **ASSETS** | | | | |
| Current Assets: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Cash and cash equivalents | $3179 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | $- | $3179 |
| &nbsp;&nbsp;&nbsp;Deferred offering costs | 12544 |  | 102149 | 114693 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses | 1385 | - | - | 1385 |
| **Total Current Assets** | **17108** | **-** | **102149** | **119257** |
| **TOTAL ASSETS** | $**17108** | $**-** | $**102149** | $**119257** |
| **LIABILITIES AND MEMBERS' EQUITY/(DEFICIT)** |  |  |  |  |
| **Current Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accounts payable | $2158 |  | $27569 | $29727 |
| &nbsp;&nbsp;&nbsp;Due to related party | 16294 | - | 93517 | 109811 |
| **Total liabilities** | **18452** | **-** | **121086** | **139538** |
| **Members' Equity/(deficit)** |  |  |  |  |
| Contributions |  |  |  |  |
| Accumulated deficit | (1344) | - | (18937) | (20281) |
| **Total members' equity /(deficit)** | **(1344)** |  | **(18937)** | **(20281)** |
| **TOTAL LIABILITIES AND MEMBERS' EQUITY/(DEFICIT)** | $**17108** | $- | $**102149** | $**119257** |

---

See accompanying notes, which are an integral part of these consolidated and consolidating financial statements.

**WAHED REAL ESTATE SERIES 1 LLC**

**CONSOLIDATED AND CONSOLIDATING STATEMENTS OF OPERATIONS**

**For the six months ended June 30, 2025 (Unaudited)**

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Series<br> Paign Drive** | **Series Lake<br> Overlook<br> Drive** | **Unallocated** | **Consolidated** |
| **<u>Revenues</u>** | | | | |
| Revenue From Operations | $4200 | $&nbsp;&nbsp;&nbsp;&nbsp;- | $- | $4200 |
| **Total Revenues** | **4200** | **-** | **-** | **4200** |
| **<u>Operating Expenses</u>** |  |  |  |  |
| Bank Charges | 234 |  | 153 | 387 |
| Depreciation | 1313 |  |  | 1313 |
| Commission Fee | 2100 |  |  | 2100 |
| Property Management Fees | 420 |  |  | 420 |
| Asset Management Fees | 241 |  |  | 241 |
| Repairs & Maintenance | 1727 |  |  | 1727 |
| Insurance Charges | 881 |  |  | 881 |
| Professional Fees | 500 | 50 | 6300 | 6850 |
| **Total Operating Expenses** | **7416** | **50** | **6453** | **13919** |
| **Loss From Operations** | **(3216)** | **(50)** | **(6453)** | **(9719)** |
| **Other Income/(expenses)** |  |  |  |  |
| Loan Facility Fees, net | 42 | - | (2222) | (2180) |
| **Total Other Expenses** | **42** | **-** | **(2222)** | **(2180)** |
| **Net Loss** | $**(3174)** | $**(50)** | $**(8675)** | $**(11899)** |

---

See accompanying notes, which are an integral part of these consolidated and consolidating financial statements.

**WAHED REAL ESTATE SERIES 1 LLC**

**CONSOLIDATED AND CONSOLIDATING STATEMENTS OF OPERATIONS**

**For the period from May 14, 2024 (Inception) to June 30, 2024 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Series<br> Paign Drive** | **Series Lake<br> Overlook<br> Drive** | **Unallocated** | **Consolidated** |
| **<u>Revenue</u>** | | | | |
| Revenue From Operations | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- |
| **Total Revenues** | **-** | **-** | **-** | **-** |
| **<u>Operating Expenses</u>** |  |  |  |  |
| **Total Operating Expenses** | **-** | **-** | **-** | **-** |
| **Net Loss** | $**-** | $**-** | $**-** | $**-** |

---

See accompanying notes, which are an integral part of these consolidated and consolidating financial statements.

**WAHED REAL ESTATE SERIES 1 LLC**

**CONSOLIDATED AND CONSOLIDATING STATEMENTS OF CHANGES IN**

**MEMBERS' EQUITY/(DEFICIT)**

**For the six months ended June 30, 2025 and for the period from May 14, 2024 (inception) to June 30, 2024 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Series<br> Paign Drive** | **Series Lake<br> Overlook<br> Drive** | **Unallocated** | **Consolidated** |
| **Balance as of May 14, 2024 (Inception)** | $**-** | $**-** | $**-** | $**-** |
| Contributions | **-** | **-** | **-** | **-** |
| Net loss | - | - | - | - |
| **Balance as of June 30, 2024** | $**-** | $**-** | $**-** | $**-** |
| **Balance as of December 31, 2024** | $**(1344)** | $**-** | $**(18937)** | $**(20281)** |
| Contributions | 144600 |  |  | 144600 |
| Subscription Receivable | (45369) |  |  | (45369) |
| Net loss | (3174) | (50) | (8675) | (11899) |
| **Balance as of June 30, 2025** | $**94713** | $**(50)** | $**(27612)** | $**67051** |

---

See accompanying notes, which are an integral part of these consolidated and consolidating financial statements.

**WAHED REAL ESTATE SERIES 1 LLC**

**CONSOLIDATED AND CONSOLIDATING STATEMENTS OF CASH FLOWS**

**For the six months ended June 30, 2025 (Unaudited)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Series<br> Paign Drive** | **Series Lake<br> Overlook<br> Drive** | **Unallocated** | **Elimination** | **Consolidated** |
| **Cash flows from operating activities:** | | | | | |
| Net loss | $(3174) | $(50) | $(8675) | $- | $(11899) |
| **Adjustments to reconcile net loss to net cash provided by operating activities:** |  |  |  |  |  |
| Depreciation | 1313 |  |  |  | 1313 |
| Prepaid expenses | 756 |  | (500) |  | 256 |
| Security deposit | 3150 |  |  |  | 3150 |
| Accounts payable | 1264 |  | (3500) |  | (2236) |
| Payable to related parties | 1781 |  |  |  | 1781 |
| Rent receivable | (150) |  |  |  | (150) |
| Receivable from property manager | (5100) | - | - | - | (5100) |
| **Net cash provided by operating activities** | **(160)** | **50)** | **(12675)** | **-** | **(12885)** |
| **Cash flows from investing activities:** |  |  |  |  |  |
| Acquisition of real estate assets (net of payables) | (7725) |  |  |  | (7725) |
| Cash paid for advances to related parties | (64155) | - | - | 29964 | (34191) |
| **Net cash used in investing activities** | **(71880)** | **-** | **-** | **29964** | **(41916)** |
| **Cash flows from financing** **activities:** |  |  |  |  |  |
| Deferred offering costs |  | (5000) | (30000) |  | (35000) |
| Proceeds from / (repayment of) loans taken (net) | (24453) | 5050 | 42675 | (29964) | (6693) |
| Contributions (Net of receivable from escrow) | 99231 | **-** | **-** | **-** | 99231 |
| **Net cash provided by (used in) financing activities** | **74778** | **50** | **12675** | **(29964)** | **57538** |
| **Net change in cash and cash equivalents during the period** | **2738** | **-** | **-** | **-** | **2738** |
| **Cash and cash equivalents balance, beginning of period** | **3179** | **-** | **-** | **-** | **3179** |
| **Cash and cash equivalents balance, end of period** | $**5917** | $**-** | $**-** | $**-** | $**5917** |

---

See accompanying notes, which are an integral part of these consolidated and consolidating financial statements.

**WAHED REAL ESTATE SERIES 1 LLC**

**CONSOLIDATED AND CONSOLIDATING STATEMENTS OF CASH FLOWS**

**For the period from May 14, 2024 (Inception) to June 30, 2024 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Series<br> Paign Drive** | **Series Lake<br> Overlook<br> Drive** | **Unallocated** | **Consolidated** |
| **Cash flows from operating activities:** | | | | |
| Net loss | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | $- | $- |
| Expenses paid by related party | - | - | 82250 | 82250 |
| **Net cash provided by operating activities**  | - | - | **82250** | **82250** |
| **Cash flows from financing activities:** |  |  |  |  |
| Deferred offering costs | - | - | (82250) | (82250) |
| **Net cash used in financing activities** | - | - | **(82250)** | **(82250)** |
| **Net change in cash and cash equivalents during the period** |  |  |  |  |
| **Cash and cash equivalents balance, beginning of period** | - | - | - | - |
| **Cash and cash equivalents balance, end of period** | $- | $- | $- | $**-** |

---

See accompanying notes, which are an integral part of these consolidated and consolidating financial statements.

**WAHED REAL ESTATE SERIES 1 LLC**

**NOTES TO THE CONSOLIDATED AND CONSOLIDATING FINANCIAL STATEMENTS (UNAUDITED)**

**As of June 30, 2025, and December 31, 2024, for the six months ended June 30, 2025, and for the period from May 14, 2024<br> (inception) to June 30, 2024**

**<u>NOTE 1: NATURE OF OPERATIONS</u>**

Wahed Real Estate Series 1, LLC (the "Company") is a Delaware Series limited liability company formed on May 14, 2024, under the laws of Delaware, for which Wahed Financial, LLC is the managing member (the "Manager"). The Company was formed to enable public investment in residential rental properties, each of which will be held directly or indirectly by a separate Series of limited liability interests, or "Series," of the Company. The Company formed Series Paign Drive on August 26, 2024, and Series Lake Overlook Drive on May 23, 2025.

As of June 30, 2025, the Company has commenced its initial operations, including launching its crowdfunding campaign for Series Paign Drive. As of that date, the Company has successfully raised $144,600 in investor capital. The Company remains dependent upon additional capital resources to fully implement its planned principal operations and is subject to significant risks and uncertainties, including failing to secure funding to commence the Company's planned operations or failing to profitably operate the business.

**<u>NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</u>**

<u>Basis of Presentation</u>

The accompanying consolidated and consolidating financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP). The Company has adopted a calendar year as its fiscal year.

<u>Unaudited Interim Financial Information</u>

The accompanying consolidated and consolidating balance sheets as of June 30, 2025 and the consolidated and consolidating statements of operations, statements of changes in member's equity and cash flows for the six-month period ended June 30, 2025 and for the period from May 14, 2024 (inception) to June 30, 2024 are unaudited. The unaudited interim consolidated and consolidating financial statements have been prepared on the same basis as the audited annual consolidated and consolidating financial statements and, in the opinion of management reflect all adjustments, which include only normal recurring adjustments, necessary for the fair statement of the Company's financial position as of June 30, 2025 and the results of its operations and its cash flows for the six-month period ended June 30, 2025 and for the period from inception to June 30, 2024. The financial data and other information disclosed in these notes related to the six-month period ended June 30, 2025 and for the period from inception to June 30, 2024 are also unaudited. The results for the six-month period ended June 30, 2025 are not necessarily indicative of results to be expected for the year ending December 31, 2025, any other interim periods, or any future year or period.

**WAHED REAL ESTATE SERIES 1 LLC**

**NOTES TO THE CONSOLIDATED AND CONSOLIDATING FINANCIAL STATEMENTS (UNAUDITED)**

**As of June 30, 2025, and December 31, 2024, for the six months ended June 30, 2025, and for the period from May 14, 2024<br> (inception) to June 30, 2024**

<u>Principles of Consolidation</u>

These consolidated and consolidating financial statements include the accounts of the Company and its Series required to be consolidated under generally accepted accounting principles. Separate financial statements are presented for the Series. All inter-company transactions and balances are eliminated in consolidation.

<u>Use of Estimates</u>

The preparation of the consolidated and consolidating financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosures of contingent assets and liabilities at the date of the consolidated and consolidating financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ significantly from those estimates.

<u>Risk and Uncertainties</u>

The Company has a limited operating history. The Company's business and operations are sensitive to general business and economic conditions in the United States. A host of factors beyond the Company's control could cause fluctuations in these conditions. These adverse conditions could affect the Company's financial condition and the results of its operations.

<u>Cash Equivalents and Concentration of Cash Balance</u>

The Company and its Series consider all highly liquid securities with an original maturity of less than three months to be cash equivalents. The Company's cash and cash equivalents in bank deposit accounts, at times, may exceed federally insured limits.

<u>Deferred Offering Costs</u>

The Company and its Series comply with the requirements of FASB ASC 340-10-S99-1 with regards to offering costs. Prior to the completion of an offering, offering costs are capitalized. The deferred offering costs are charged to members' equity upon the completion of an offering or to expense if the offering is not completed. The Company will reimburse its Manager up to 4% of the gross offering proceeds per Series offering for offering costs from the proceeds of each Series offering. We have preliminarily allocated up to 4% of the maximum expected gross offering amount to cover offering costs for each respective Series, as and when such expenses are incurred. In the event that the aggregate funds raised by any Series are less than the amount anticipated, the corresponding allocation of offering expenses to such Series shall be reduced accordingly.

As of June 30, 2025, the Company has deferred $149,693 of offering costs, consisting of $132,149 of unallocated deferred offering costs, $12,544 of Series Paign Drive deferred offering costs, and $5,000 of Series Lake Overlook Drive deferred offering costs. As of that date, the Company has raised $144,600 in investor capital with respect to Series Paign Drive and is in the process of raising the balance of capital resources for this Series as well as raising capital for Series Lake Overlook Drive, in order to fully implement its planned principal operations. The deferred offering costs with respect to each Series (subject to any limit established by the Manager) will be capitalized once the offering for that Series is completed.

**WAHED REAL ESTATE SERIES 1 LLC**

**NOTES TO THE CONSOLIDATED AND CONSOLIDATING FINANCIAL STATEMENTS (UNAUDITED)**

**As of June 30, 2025, and December 31, 2024, for the six months ended June 30, 2025, and for the period from May 14, 2024<br> (inception) to June 30, 2024**

<u>Acquisition Costs</u>

The cost of acquiring the property will be borne by the respective series, including any buyer's premium payable, the sourcing fee payable to the Manager and any sales or similar taxes if required to be paid.

Upon acquisition, the property will be recorded on the Series' books at its original cost basis—essentially its acquisition cost, including any deposits for the Series funded by the Manager and acquisition expenses, which include all fees, costs and expenses incurred.

<u>Property and Equipment</u>

Property and equipment are stated at cost less accumulated depreciation. The Company's property and equipment includes the cost of the purchased Series property, including the building and related land. The Company allocates certain capitalized title fees and relevant acquisition expenses to the building value. All capitalized property and equipment costs, except for the value attributable to the land, are depreciated using the straight-line method over the estimated useful life of 27.5 years. At the time of retirement or other disposition of property and equipment, the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in operations.

<u>Impairment of Long-Lived Assets</u>

The Company continually monitors events and changes in circumstances that could indicate carrying amounts of long-lived assets may not be recoverable. When such events or changes in circumstances are present, the Company assesses the recoverability of long-lived assets by determining whether the carrying value of such assets will be recovered through undiscounted expected future cash flows. If the total of the future cash flows is less than the carrying amount of those assets, the Company recognizes an impairment loss based on the excess of the carrying amount over the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or the fair value less costs to sell. The Company did not record any impairment losses on long-lived assets for the six months ended June 30, 2025. The Company did not own any long-lived assets as of June 30, 2024.

**WAHED REAL ESTATE SERIES 1 LLC**

**NOTES TO THE CONSOLIDATED AND CONSOLIDATING FINANCIAL STATEMENTS (UNAUDITED)**

**As of June 30, 2025, and December 31, 2024, for the six months ended June 30, 2025, and for the period from May 14, 2024<br> (inception) to June 30, 2024**

<u>Fair Value of Financial Instruments</u>

Financial Accounting Standards Board ("FASB") guidance specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect market assumptions. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). The three levels of the fair value hierarchy are as follows:

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 1 primarily consists of financial instruments whose value is based on quoted market prices such as exchange-traded instruments and listed equities.

Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly (e.g., quoted prices of similar assets or liabilities in active markets, or quoted prices for identical or similar assets or liabilities in markets that are not active).

Level 3 - Unobservable inputs for the asset or liability. Financial instruments are considered Level 3 when their fair values are determined using pricing models, discounted cash flows or similar techniques and at least one significant model assumption or input is unobservable.

The carrying amounts reported in the consolidated and consolidating balance sheets approximate their fair value.

<u>Tenant Deposit</u>

Tenant deposit liabilities represent security deposits received from tenant customers.

<u>Operating expenses</u>

Each Series of the Company will be responsible for the costs and expenses attributable to the activities of the Company related to such Series as well as any portion of shared expenses that the Manager allocates to such Series. As compensation for the services provided by the property manager, each Series will be charged a property management fee as set forth in the property management agreement for the Series property.

<u>Revenue Recognition</u>

Accounting Standards Codification ("ASC") Topic 606, "Revenue from Contracts with Customers" establishes principles for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from the entity's contracts to provide goods or services to customers.

Revenues will be recognized when control of the promised goods or services is transferred to a customer, in an amount that reflects the consideration that the Company expects to receive in exchange for those goods or services. The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements: 1) identify the contract with a customer; 2) identify the performance obligations in the contract; 3) determine the transaction price; 4) allocate the transaction price to performance obligations in the contract; and 5) recognize revenue as the performance obligation is satisfied.

**WAHED REAL ESTATE SERIES 1 LLC**

**NOTES TO THE CONSOLIDATED AND CONSOLIDATING FINANCIAL STATEMENTS (UNAUDITED)**

**As of June 30, 2025, and December 31, 2024, for the six months ended June 30, 2025, and for the period from May 14, 2024<br> (inception) to June 30, 2024**

Each Series property is used for rental purposes and earns rental income on a monthly basis. Rental income is recognized over the length of the contract as the performance obligation is satisfied over time.

<u>Organizational Costs</u>

In accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 720, organizational costs, including accounting fees, legal fees, and costs of incorporation, are expensed as incurred.

<u>Expense Allocation</u>

To the extent relevant, offering expenses, acquisition expenses, operating expenses, revenue generated from Series properties and any indemnification payments made by the Manager will be allocated among the various Series interests in accordance with the Manager's allocation policy. The allocation policy requires the Manager to allocate items that are allocable to a specific Series to be borne by, or distributed to (as applicable), the applicable Series. If, however, an item is not allocable to a specific Series but to the Company in general, it will be allocated pro rata based on the value of the Series properties or the number of properties, as reasonably determined by the Manager or as otherwise set forth in the allocation policy. The Manager has sole discretion to amend the allocation policy.

<u>Income Taxes</u>

The Company is a limited liability company. Accordingly, under the Internal Revenue Code, all taxable income or loss flows through to its members. Therefore, no provision for income tax has been recorded in these consolidated and consolidating financial statements. Income from the Company is reported and taxed to the member on its individual tax return. The Company intends to elect for each Series to be taxed as a corporation.

The Company complies with FASB ASC 740 for accounting for uncertainty in income taxes recognized in a company's financial statement, which prescribes a recognition threshold and measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. FASB ASC 740 also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. Based on the Company's evaluation, it has been concluded that there are no significant uncertain tax positions requiring recognition in the Company's consolidated and consolidating financial statements. The Company believes that its income tax position would be sustained on audit and does not anticipate any adjustments that would result in a material change to its financial position.

**WAHED REAL ESTATE SERIES 1 LLC**

**NOTES TO THE CONSOLIDATED AND CONSOLIDATING FINANCIAL STATEMENTS (UNAUDITED)**

**As of June 30, 2025, and December 31, 2024, for the six months ended June 30, 2025, and for the period from May 14, 2024<br> (inception) to June 30, 2024**

The Company may in the future become subject to federal, state and local income taxation though it has not been since its inception. The Company is not presently subject to any income tax audit in any taxing jurisdiction.

**<u>NOTE 3: GOING CONCERN</u>**

The accompanying consolidated and consolidating financial statements have been prepared on a going concern basis, which contemplate the realization of assets and the satisfaction of liabilities in the normal course of business. The Company is a business that has recently commenced its principal operations, plans to incur significant costs in pursuit of its capital financing plans and is dependent upon its Manager and its affiliates for continued funding of its cash flow needs. The Company has an accumulated deficit of $32,180, has generated a loss of $11,899 for the six months ended June 30, 2025, and has limited liquid assets to satisfy its obligations as they come due with cash of $5,917 against current liabilities of $404,887 as of June 30, 2025. These factors, among others, raise substantial doubt about the ability of the Company to continue as a going concern for a reasonable period.

The Company's ability to continue as a going concern in the next twelve months is dependent upon its ability to obtain capital financing from investors sufficient to meet current and future obligations. No assurance can be given that the Company will be successful in these efforts. The consolidated and consolidating balance sheets don't include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

**<u>NOTE 4: MEMBERS' EQUITY/(DEFICIT)</u>**

As of June 30, 2025, the Company has received capital contributions, including $144,600 raised through crowdfunding for Series Paign Drive. Out of this amount, $45,369 is held in an escrow account as of June 30, 2025, recorded as subscription receivable as part of the members' equity/(deficit). The funds held in escrow relate to shares that have already been subsequently allocated to the respective investors. The escrow balance is earmarked to be utilized by the Company towards the repayment of outstanding dues in connection with the property purchased.

No capital has been contributed to the Company as of December 31, 2024.

The Company is managed by Wahed Financial, LLC, a Delaware limited liability company and managing member of the Company (the "Manager") and the Manager holds 100% of the Company's membership units. Pursuant to the terms of the operating agreement, the Manager will provide certain management and advisory services, as well as management team and appropriate support personnel to the Company and to each of the Company's Series.

Profits and losses shall be allocated pro rata by Series among all the members of each of the Company's Series, which may include the Manager.

**WAHED REAL ESTATE SERIES 1 LLC**

**NOTES TO THE CONSOLIDATED AND CONSOLIDATING FINANCIAL STATEMENTS (UNAUDITED)**

**As of June 30, 2025, and December 31, 2024, for the six months ended June 30, 2025, and for the period from May 14, 2024<br> (inception) to June 30, 2024**

The Manager has sole discretion in determining what distributions, if any, are made to interest holders except as otherwise limited by law or the operating agreement. The Company expects the Manager to make distributions on a semi-annual basis. However, the Manager may change the timing of distributions or determine that no distributions shall be made, in its sole discretion.

Distributable cash, as determined by the Manager, may be distributed on a quarterly basis from free cash flows. However, the Manager may change the timing of the distributions or determine no distributions shall be made, in its sole discretion. Distributable cash of each Series shall be applied first to expenses and reserves as determined by the Manager, and thereafter distributed to the members of that Series pro rata to their interests (which, for the avoidance of doubt, may include the Manager and its affiliates).

No member shall be entitled to withdraw or receive return of their capital contribution, except to the extent, if any, that distributions made pursuant to the operating agreement may be considered as such by law and then only to the extent provided for in the operating agreement.

The debts, obligations, and liabilities of the Company, whether arising in contract, tort, or otherwise, are solely the debts, obligations, and liabilities of the Company, and no member of the Company is obligated personally for any such debt, obligation, or liability.

**<u>NOTE 5: PROPERTY AND EQUIPMENT</u>**

Property and equipment at June 30, 2025 and December 31, 2024 consists of the following:

---

| | | | |
|:---|:---|:---|:---|
| **June 30, 2025** | **Series<br> Paign Drive** | **Series Lake<br> Overlook<br> Drive** | **Consolidated** |
| **Real Estate Assets** | | | |
| Building and building improvements | $60400 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | $60400 |
| Land | 216672 | - | 216672 |
| **Total** | **277072** | **-** | **277072** |
| Less: Accumulated depreciation | 1313 | - | 1313 |
| **Property and equipment, net** | $**275759** | $**-** | $**275759** |

---

---

| | | | |
|:---|:---|:---|:---|
| **December 31, 2024** | **Series<br> Paign Drive** | **Series Lake<br> Overlook<br> Drive** | **Consolidated** |
| **Real Estate Assets** | | | |
| Building and building improvements | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- |
| Land | - | - | - |
| **Total** | **-** | **-** | **-** |
| Less: Accumulated depreciation | - | - | - |
| **Property and equipment, net** | $**-** | $**-** | $**-** |

---

Depreciation expense was $1,313 for the six months ended June 30, 2025, and $0 for the period from inception to June 30, 2024.

**WAHED REAL ESTATE SERIES 1 LLC**

**NOTES TO THE CONSOLIDATED AND CONSOLIDATING FINANCIAL STATEMENTS (UNAUDITED)**

**As of June 30, 2025, and December 31, 2024, for the six months ended June 30, 2025, and for the period from May 14, 2024<br> (inception) to June 30, 2024**

**<u>NOTE 6: RELATED PARTY TRANSACTIONS</u>**

The Company is managed by its sole member, Wahed Financial LLC, the Manager of the Company. Pursuant to the terms of the operating agreement, the Manager will provide certain management services to the Company. The Manager shall direct, manage, and control the Company to the best of its ability and shall have full and complete authority, power, and discretion to make any and all decisions and to do any and all things that such Manager may deem to be reasonably required to accomplish the purpose of the Company.

Subject to certain restrictions and limitations, the Manager is responsible for managing the Company's affairs on a day-to-day basis and for identifying and making acquisitions and investments on behalf of the Company. The Manager has power and authority on behalf of the Company to amend the operating agreement.

<u>Asset Management Fee</u>

For the Manager's efforts in conducting due diligence, acquiring the properties, day-to-day management, and making the investment opportunity available to the Company and its members, the Manager shall earn on a quarterly basis beginning on the first quarter end date following the initial closing date of the issuance of interests in a Series, payable quarterly in arrears, equal to 0.25% (1% annualized) of the asset value, as determined by the Manager as of the last day of the immediately preceding quarter. Series Paign Drive incurred asset management fees amounting to $241 for the six months ended June 30, 2025.

<u>Sourcing Fee</u>

Each Series will pay the Manager with a sourcing fee to cover the costs associated with searching and negotiation of the property purchase and preparing the property for rental. The applicable sourcing fee will be set forth in the certificate of designation for each Series. No sourcing fee was incurred for the six months ended June 30, 2025 as none of the Series is yet fully funded.

<u>Reimbursement of Expenses</u>

Pursuant to the operating agreement, the Manager or its affiliates will receive reimbursement of reasonable expenses paid or incurred by the Manager or its affiliates in connection with the Company's operations, including any legal, financial and tax reporting, and accounting costs, which may be paid from capital contributions, revenue, or reserves. The Manager may also reimburse members of the Company for such expenses incurred by them in connection with the Company's operations, as decided in the Manager's sole discretion.

**WAHED REAL ESTATE SERIES 1 LLC**

**NOTES TO THE CONSOLIDATED AND CONSOLIDATING FINANCIAL STATEMENTS (UNAUDITED)**

**As of June 30, 2025, and December 31, 2024, for the six months ended June 30, 2025, and for the period from May 14, 2024<br> (inception) to June 30, 2024**

The Company will reimburse its Manager for offering expenses, which the Managing Member has agreed to cap at 4% of the gross proceeds of the offerings of each of Series Paign Drive and Series Lake Overlook Drive. Any cap on the amount of reimbursement of offering expenses for future Series will be determined by the Manager in its sole discretion.

<u>Distributions</u>

Distributable cash, as determined by the Manager, may be distributed on a quarterly basis from Free Cash Flow. However, the Manager may change the timing of the distributions or determine no distributions shall be made, in its sole discretion. Distributable cash of each Series shall be applied first to expenses and reserves as determined by the Manager, and thereafter distributed to the members of that Series pro rata to their interests (which, for the avoidance of doubt, may include the Manager and its affiliates).

<u>Related party payables and receivables</u>

As of June 30, 2025, due to related party includes loans taken from Wahed Invest LLC and from Wahed Financial LLC for purchase of property (as discussed below), both related parties under common control, as well as to fund certain expenses paid on behalf of the Company, as discussed above, which amounts remain payable as of June 30, 2025. The total amount outstanding as of June 30, 2025 is $368,860 ($86,710 to Wahed Invest LLC and $282,150 to Wahed Financial LLC.) consisting of $106,228 unallocated payable, $257,582 payable from Series Paign Drive and $5,050 payable from Series Lake Overlook Drive. The balance bears no interest, however, loan facility fees of 5% per annum is levied on the principal amount borrowed from Wahed Invest LLC, charged on a monthly basis. Loan facility fees payable to Wahed Invest LLC amounted $2,012 during the six months ended June 30, 2025. The loan and the loan facility fee charged thereon are considered payable on demand. Due to related party as of June 30, 2025 amounting to $368,860 is presented net of inter-series payables of $29,964, representing unallocated expenses and offering costs inadvertently paid by Series Paign Drive.

As of December 31, 2024, due to related party includes loans taken from Wahed Inc. and Wahed Invest LLC, related parties under common control. These entities have paid certain expenses on behalf of the Company, which remain payable as of December 31, 2024. The total amount is $109,811 ($79,170 to Wahed Invest LLC and $30,641 to Wahed Inc.) consisting of $93,517 unallocated payable and $16,294 payable from Series Paign Drive. The balance bears no interest, however, loan facility fees of 5% per annum is levied on the principal amount borrowed from Wahed Inc. and Wahed Invest LLC, charged on a monthly basis. Loan facility fees payable as of December 31, 2024, on these loans is $3,629, consisting of $3,237 unallocated loan facility fee payable and $392 loan facility fee payable from Series Paign Drive.

**WAHED REAL ESTATE SERIES 1 LLC**

**NOTES TO THE CONSOLIDATED AND CONSOLIDATING FINANCIAL STATEMENTS (UNAUDITED)**

**As of June 30, 2025, and December 31, 2024, for the six months ended June 30, 2025, and for the period from May 14, 2024<br> (inception) to June 30, 2024**

As of June 30, 2025, the company has loan receivable from Wahed Inc., a related party under common control. The loan balance is $34,191. The balance bears no interest, however, loan facility fees of 5% per annum is levied on the principal amount borrowed, charged on a monthly basis. Loan facilities fees receivable from Wahed Inc. amounted to $320 during the six months ended June 30, 2025. The loan and the loan facility fee charged thereon are considered receivable on demand. Due from related party as of June 30, 2025, amounting to $34,191, is presented net of inter-series receivables of $29,964, representing unallocated expenses and offering costs inadvertently paid by Series Paign Drive. As of December 31, 2024, there were no receivables from related party.

<u>Acquisition Cost - Paign Drive Property</u> 

On August 9, 2024, Wahed Financial LLC, as the managing member of the Company, completed the acquisition of the property located at 41210 Paign Drive, Sterling Heights, MI "Paign Drive Property" for a total purchase price of $260,000. As of December 31, 2024, title to the Paign Drive Property is held by Wahed Financial LLC (Managing Member) and had not yet been transferred to Series Paign LLC.

On May 2, 2025, the property was transferred to Series Paign Drive in exchange for $141,600 in cash and an interest-free loan from Wahed Financial LLC of $127,266, representing the $260,000 property purchase price plus $3,960 in acquisition expenses and $13,111 in property improvement expenses.

On March 12, 2025, the Managing Member entered into a property management agreement, appointing Ahsan Tarar, as the "Property Manager," effective March 12, 2025. Unless explicitly renewed or terminated, the property management agreement will end on the second anniversary of the effective date and will automatically renew for additional successive 12-month periods. The Property Manager is entitled to withhold 10% from each monthly rental payment including late fees as compensation for management services or management fees. Series Paign Drive incurred property management fee amounting to $420 for the six months ended June 30, 2025.

<u>Acquisition Cost – Lake Overlook Drive Property</u>

In March 2025, Wahed Financial LLC, as the managing member of the Company, completed the acquisition of the property located at 6724 Lake Overlook Drive, Fort Worth, TX 76135, for a total purchase price of $374,900. The Managing Member intends to sell the property to Series Lake Overlook Drive once sufficient funds from the Company's Regulation A offering have been tendered to the Company. As of June 30, 2025, the property title remains under Wahed Financial LLC (Managing Member) and has not yet been transferred to Series Lake Overlook Drive LLC.

On March 21, 2025, the Managing Member entered into a property management agreement with G&O Property Management, LLC, as the "Property Manager," effective March 21, 2025. The property management agreement has a term of one year and extends automatically for successive monthly terms unless terminated. The Property Manager is entitled to withhold 7% from each monthly rental payment, a lease commission equal to one month of gross rent (as exclusive leasing agent) and an initial $500 property onboarding fee.

**WAHED REAL ESTATE SERIES 1 LLC**

**NOTES TO THE CONSOLIDATED AND CONSOLIDATING FINANCIAL STATEMENTS (UNAUDITED)**

**As of June 30, 2025, and December 31, 2024, for the six months ended June 30, 2025, and for the period from May 14, 2024<br> (inception) to June 30, 2024**

**<u>NOTE 7: RECENT ACCOUNTING PRONOUNCEMENTS</u>**

Management does not believe that any other recently issued, but not yet effective, accounting standards could have a material effect on the accompanying consolidated and consolidating financial statements. As new accounting pronouncements are issued, we will adopt those that are applicable under the circumstances.

**<u>NOTE 8: COMMITMENTS AND CONTINGENCIES</u>**

The Company may be subject to pending legal proceedings and regulatory actions in the ordinary course of business. The results of such proceedings cannot be predicted with certainty, but the Company does not anticipate that the outcome, if any, arising out of any such matters will have a material adverse effect on its business, financial condition or results of operations.

**<u>NOTE 9: SUBSEQUENT EVENTS</u>**

Management has evaluated all subsequent events through September 25, 2025, the date the consolidated and consolidating financial statements were available to be issued.

On September 8, 2025, Wahed Financial LLC, as the managing member of the Company, completed the acquisition of the property located at 8820 Waynick Drive, Raleigh, North Carolina, for a total purchase price of $435,000 (net of sales credits) plus closing costs. On September 25, 2025, the Company established Series Waynick Drive for the purposes of acquiring the Waynick Drive property. Wahed Financial intends to transfer the property to Series Waynick Drive once sufficient funds from the company's Regulation A offering have been tendered to the Company.

**Item 4. Exhibits**

The documents listed in the Exhibit Index of this report are incorporated by reference or are filed with this report, in each case as indicated below.

2.1 [Certificate of Formation of Wahed Real Estate Series 1 LLC (incorporated by reference to Exhibit 2.1 of the Company's Offering Statement on Form 1-A filed with the SEC on August 29, 2024)](https://www.sec.gov/Archives/edgar/data/2033610/000121390024073759/ea021233501ex2-1_wahed1.htm)

2.2 [Limited Liability Company Agreement of Wahed Real Estate Series 1 LLC (incorporated by reference to Exhibit 2.2 of the Company's Offering Statement on Form 1-A filed with the SEC on August 29, 2024)](https://www.sec.gov/Archives/edgar/data/2033610/000121390024073759/ea021233501ex2-2_wahed1.htm)

2.3 [Series Paign Drive Series Designation (incorporated by reference to Exhibit 2.3 of Amendment No. 1 to the Company's Offering Statement on Form 1-A filed with the SEC on November 20, 2024)](http://www.sec.gov/Archives/edgar/data/2033610/000121390024100415/ea022186901ex2-3_wahed1.htm)

2.4 [Series Lake Overlook Drive Series Designation (incorporated by reference to Exhibit 2.4 of Post-Qualification Amendment No. 1 to the Company's Offering Statement on Form 1-A filed with the SEC on May 29, 2025)](https://www.sec.gov/Archives/edgar/data/2033610/000121390025048780/ea024346101ex2-4_wahed1.htm)

2.5 [Series Waynick Drive Series Designation](ea025889201ex2-5_wahed1.htm)

4.1 [Form of Subscription Agreement (incorporated by reference to Exhibit 4.1 of Amendment No. 1 to the Company's Offering Statement on Form 1-A filed with the SEC on November 20, 2024)](https://www.sec.gov/Archives/edgar/data/2033610/000121390024100415/ea022186901ex4-1_wahed1.htm)

6.1 [Dalmore Agreement (incorporated by reference to Exhibit 6.1 of the Company's Offering Statement on Form 1-A filed with the SEC on August 29, 2024)](https://www.sec.gov/Archives/edgar/data/2033610/000121390024073759/ea021233501ex6-1_wahed1.htm)

6.2 [Series Paign Drive Purchase Agreement (incorporated by reference to Exhibit 6.2 of the Company's Offering Statement on Form 1-A filed with the SEC on August 29, 2024)](https://www.sec.gov/Archives/edgar/data/2033610/000121390024073759/ea021233501ex6-2_wahed1.htm)

6.3 [Form of Facility Agreement between the Company or a Series thereof and the Managing Member or an affiliate thereof](ea025889201ex6-3_wahed1.htm)

6.4 [Paign Drive Property Management Agreement (incorporated by reference to Exhibit 6.4 of Post-Qualification Amendment No. 1 to the Company's Offering Statement on Form 1-A filed with the SEC on May 29, 2025)](https://www.sec.gov/Archives/edgar/data/2033610/000121390025048780/ea024346101ex6-4_wahed1.htm)

6.5 [Addendum to Series Paign Drive Purchase Agreement (incorporated by reference to Exhibit 6.5 of Amendment No. 1 to the Company's Offering Statement on Form 1-A filed with the SEC on November 20, 2024)](http://www.sec.gov/Archives/edgar/data/2033610/000121390024100415/ea022186901ex6-5_wahed1.htm)

6.6 [Form of Lease Agreement for the Paign Drive property (incorporated by reference to Exhibit 6.8 of Post-Qualification Amendment No. 1 to the Company's Offering Statement on Form 1-A filed with the SEC on May 29, 2025)](https://www.sec.gov/Archives/edgar/data/2033610/000121390025048780/ea024346101ex6-8_wahed1.htm)

6.7 [Lake Overlook Drive Purchase Agreement (incorporated by reference to Exhibit 6.9 of Post-Qualification Amendment No. 1 to the Company's Offering Statement on Form 1-A filed with the SEC on May 29, 2025)](https://www.sec.gov/Archives/edgar/data/2033610/000121390025048780/ea024346101ex6-9_wahed1.htm)

6.8 [Lake Overlook Drive Property Management Agreement (incorporated by reference to Exhibit 6.10 of Post-Qualification Amendment No. 1 to the Company's Offering Statement on Form 1-A filed with the SEC on May 29, 2025)](https://www.sec.gov/Archives/edgar/data/2033610/000121390025048780/ea024346101ex6-10_wahed1.htm)

6.9 [Form of Residential Lease for the Lake Overlook Drive property](ea025889201ex6-9_wahed1.htm)

6.10 [North Carolina Special Warranty Deed of Waynick Drive Property](ea025889201ex6-10_wahed1.htm)

6.11 [Waynick Drive Property Management Agreement](ea025889201ex6-11_wahed1.htm)

6.12 [Form of Lease and Value Share Agreement for the Waynick Drive property](ea025889201ex6-12_wahed1.htm)

6.13 [Value Share Transfer Agreement](ea025889201ex6-13_wahed1.htm)

**SIGNATURES**

Pursuant to the requirements of Regulation A, the issuer has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Las Vegas, Nevada, on September 29, 2025.

---

| | |
|:---|:---|
| **Wahed Real Estate Series 1 LLC,** <br> **a Delaware limited liability company** | **Wahed Real Estate Series 1 LLC,** <br> **a Delaware limited liability company** |
| By: | Wahed Financial LLC, a Delaware corporation |
| Its: | Managing Member |
| By | /s/ Ahmar Shaikh |
|  | Ahmar Shaikh |
| Title: | Manager |
| Date: | September 29, 2025 |

---

Pursuant to the requirements of Regulation A, this report has been signed below by the following persons on behalf of the issuer and in the capacities and on the date indicated.

---

| | |
|:---|:---|
| By: | /s/ Ahmar Shaikh |
|  | Ahmar Shaikh |
| Title: | Manager, Chief Executive Officer |
|  | (principal executive officer),<br> Chief Financial Officer |
|  | (principal financial officer and <br> principal accounting officer) of <br> Wahed Financial LLC President |
| Date: | September 29, 2025 |

---

## Ex1Sa-2A

**Exhibit 2.5**

**SERIES DESIGNATION**

**SERIES WAYNICK DRIVE**

In accordance with the Limited Liability Company Agreement of Wahed Real Estate Series 1 LLC (the "Company") dated May 14, 2024 (the "Agreement") and upon the execution of this designation by the Company and Wahed Financial LLC, in its capacity as Managing Member of the Company and Initial Member of Series Waynick Drive, a series of Wahed Real Estate Series 1 LLC ("Series Waynick Drive"), this exhibit shall be attached to, and deemed incorporated in its entirety into, the Agreement.

References to Sections and Articles set forth herein are references to Sections and Articles of the Agreement, as in effect as of the effective date of establishment set forth below.

---

| | |
|:---|:---|
| **Name of Series** | Series Waynick Drive, a series of Wahed Real Estate Series 1 LLC |
| **Effective date of establishment** | September 25, 2025 |
| **Managing Member** | Wahed Financial LLC was appointed as the Managing Member of Series Waynick Drive with effect from the date of the Agreement and shall continue to act as the Managing Member of Series Waynick Drive until dissolution of Series Waynick Drive pursuant to Section 11.1(b) or its removal and replacement pursuant to Section 4.3 or Article X |
| **Series Property** | The Series Property of Series Waynick Drive shall comprise a detached 3 bedroom, 2.5 bathroom residential property located at 8820 Waynick Drive, Raleigh, NC, which will be acquired by Series Waynick Drive, and any assets and liabilities associated with such asset and such other assets and liabilities acquired by Series Waynick Drive from time to time, as determined by the Managing Member in its sole discretion |
| **Management Fee** | As stated in Section 6.3 |
| **Sourcing Fee** | $21276 |
| **Purpose** | As stated in Section 2.4 |
| **Issuance** | Subject to Section 6.4(a)(i), the number of Series Waynick Drive Interests that the Company will initially issue is 4,850 |
| **Broker (with respect to the Regulation A offering only)** | Dalmore Group, LLC |
| **Brokerage Fee** | 1.0%, in cash, of the purchase price of the Series Waynick Drive Interests sold in the Offering of the Series Waynick Drive Interests |
| **Interest Designation** | No Member holding Series Waynick Drive Interests shall be entitled to any preemptive, preferential or similar rights connection with the issuance of Series Waynick Drive Interests. |

---

---

| | |
|:---|:---|
| **Voting** | Subject to Section 3.5, the Series Waynick Drive Interests shall entitle the Record Holders thereof to one vote per Interest on any and all matters submitted to the consent or approval of Members generally. No separate vote or consent of the Record Holders of Series Waynick Drive Interests shall be required for the approval of any matter, except as required by the Delaware Act or except as provided elsewhere in this Agreement.<br>The affirmative vote of the holders of not less than a majority of the Series Waynick Drive Interests then Outstanding shall be required for:<br>(a) any amendment to this Agreement (including this Series Designation) that would materially adversely change the rights of the Series Waynick Drive Interests;<br>(b) mergers, consolidations or conversions of Series Waynick Drive or the Company; and<br>(c) all such other matters as the Managing Member, in its sole discretion, determines shall require the approval of the holders of the Outstanding Series Waynick Drive Interests voting as a separate class.<br>Notwithstanding the foregoing, the separate approval of the holders of Series Waynick Drive Interests shall not be required for any of the other matters specified under Section 12.1 |
| **Splits** | There shall be no subdivision of the Series Waynick Drive Interests other than in accordance with Section 3.7 |
| **Other rights** | Holders of Series Waynick Drive Interests shall have no conversion, exchange, sinking fund, appraisal rights, no preemptive rights to subscribe for any securities of the Company and no preferential rights to distributions of Series Waynick Drive Interests |
| **Officers** | There shall initially be no specific officers associated with Series Waynick Drive, although, the Managing Member may appoint Officers of Series Waynick Drive from time to time, in its sole discretion |
| **Aggregate Ownership Limit** | As stated in Section 1.1 |
| **Minimum Interests** | 5 Interest per Member |
| **Fiscal Year** | As stated in Section 8.2 |
| **Information Reporting** | As stated in Section 8.1(c) |
| **Termination** | As stated in Section 11.1(b) |
| **Liquidation** | As stated in Section 11.3 |
| **Amendments to this Exhibit** | As stated in Article XII |

---

**IN WITNESS WHEREOF**, this Series Designation has been executed as of the effective date of establishment written above.

---

| | |
|:---|:---|
| MANAGING MEMBER | MANAGING MEMBER |
| **WAHED FINANCIAL LLC** | **WAHED FINANCIAL LLC** |
| By | /s/ Ahmar Shaikh |
|  | Ahmar Shaikh |
|  | Manager |

---

## Ex1Sa-6

**Exhibit 6.3**

**Dated**

[______________]

**USD [___________]**

**Facility agreement**

between

**[______________]**

(as Lender) and

**[___________________]**

(as Borrower)

**THIS AGREEMENT** is dated [______________].

**Parties**

(1) **[__________________]**, a Delaware [Corporation/Limited Liability Company], having its principal place of business at [27 East 28th Street, 8th Floor, New York, NY 10016] (**Lender**)

(2) **[____________________]**, a Delaware [Corporation/Limited Liability Company], having its principal place of business at [27 East 28th Street, 8th Floor, New York, NY 10016] (**Borrower**)

**Agreed terms**

**1.** **Definitions And Interpretation** 

1.1 **Definitions** 

The following definitions apply in this agreement.

**Availability Period:** the period from and including the date of this agreement to and including [DATE].

**Business Day:** a day other than a Saturday and Sunday or public holiday in United States of America when commercial banks are open for business.

**Facility:** the term loan facility made available under this agreement.

**Loan:** the total amount of the loan made or to be made by the Lender to the Borrower under this agreement or (as the context requires) the amount outstanding for the time being of that loan.

**Dollar and USD:** the lawful currency of the United States of America.

**Total Facility Amount:** the maximum amount of the Facility referred to in clause 2.

1.2 Interpretation

In this agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) clause and paragraph headings shall not affect the interpretation
of this agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) a reference to a **person** shall include a reference to
an individual, firm, company, corporation, partnership, unincorporated body of persons, government, state or agency of a state or any
association, trust, joint venture or consortium (whether or not having separate legal personality) and that person's personal representatives,
successors, permitted assigns and permitted transferees;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) unless the context otherwise requires, words in the singular
shall include the plural and in the plural shall include the singular;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) unless the context otherwise requires, a reference to one
gender shall include a reference to the other genders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) a reference to a party shall include that party's successors,
permitted assigns and permitted transferees;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) a reference to a statute or statutory provision is a reference
to it as amended, extended or re-enacted from time to time;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) a reference to a statute or statutory provision shall include
all subordinate legislation made from time to time under that statute or statutory provision;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) a reference to **writing** or **written** includes fax
and e-mail;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) an obligation on a party not to do something includes an obligation not to allow
that thing to be done;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) a reference to **this agreement** (or any provision of it) or to any other agreement
or document referred to in this agreement is a reference to this agreement, that provision or such other agreement or document as amended
(in each case, other than in breach of the provisions of this agreement) from time to time;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) unless the context otherwise requires, a reference to a clause is to a clause of
this agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) any words following the terms **including**, **include**, **in particular**, **for example** or any similar expression shall be construed as illustrative and shall not limit the sense of the words, description,
definition, phrase or term preceding those terms;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) a reference to **directly** or **indirectly** means (without limitation)
either alone or jointly with any other person, whether on his own account or in partnership with another (or others) as the holder of
any interest in or as officer, employee or agent of or consultant to any other person;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) a reference to a document in agreed form is to that document in the form agreed
by the Lender and the Borrower and initialled by or on their behalf for identification;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) a reference to an **amendment** includes a novation, re-enactment, supplement
or variation (and **amended** shall be construed accordingly);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) a reference to an **authorisation** includes an approval, authorisation, consent,
exemption, filing, licence, notarisation, registration and resolution;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) a reference to **determines** or **determined** means, unless the contrary
is indicated, a determination made at the discretion of the person making it;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) a reference to a **disposal** of any asset, undertaking or business includes
a sale, lease, licence, transfer, loan or other disposal by a person of that asset, undertaking or business (whether by a voluntary or
involuntary single transaction or series of transactions); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) a reference to a **regulation** includes any regulation, rule, official directive,
request or guideline (whether or not having the force of law) of any governmental, inter-governmental or supranational body, agency, department
or regulatory, self-regulatory or other authority or organisation.

**2.** **T he Facility** 

The Lender grants to the Borrower an unsecured United States Dollar term loan facility of a total amount not exceeding USD [___________] on the terms, and subject to the conditions, of this agreement.

**3.** **P urpose** 

3.1 The Borrower shall use all money borrowed under this agreement
for general corporate purposes and any other purpose that it deems appropriate.

3.2 The Lender is not obliged to monitor or verify how any amount advanced under this agreement is used.

**4.** **D Rawing** 

4.1 Subject to the provisions hereof, the Borrower may utilise the Facility in one
or more tranches during the Availability Period. To do this, the Borrower shall give the Lender at least one Business Day's prior notice
of the date on which the Borrower wants to draw the Loan. The amount of the Loan shall not exceed the Total Facility Amount.

4.2 The Borrower may instruct the Lender, in writing, to transmit any drawing of the
Loan directly to some other entity, for and on behalf of the Borrower, provided that, in all cases, the Borrower shall remain solely responsible
for the performance of all obligations (payment and otherwise) under this agreement even if the Loan has been transmitted by the Lender
directly to some other entity at the request of the Borrower.

4.3 Any amount of the Facility not drawn down during the Availability Period will automatically
be cancelled.

**5.** **I nterest** 

No interest shall be paid on the Loan. However, an arm's length loan management fee shall be charged on the loan.

**6.** **R epayment** 

The Borrower shall repay the Loan on demand by the Lender.

**7.** **P ayments** 

7.1 All payments made by the Borrower under this agreement shall be in Dollar and in
immediately available cleared funds to the Lender at such account as the Lender may notify the Borrower.

7.2 If any payment becomes due on a day which is not a Business Day, the due date of
such payment will be extended to the next succeeding Business Day, or if that Business Day falls in the following calendar month, such
due date shall be the immediately preceding Business Day.

7.3 All payments made by the Borrower under this agreement shall be made in full, without
set-off, counterclaim or condition and free and clear of and without any deduction or withholding, provided that, if the Borrower is required
by law or regulation to make such deduction or withholding, it shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) ensure that the deduction or withholding does not exceed the
minimum amount legally required;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) pay to the relevant taxation, or other authorities, as appropriate,
the full amount of the deduction or withholding;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) furnish to the Lender, within the period for payment permitted
by the relevant law, either:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) an official receipt of the relevant taxation authorities involved in respect of all amounts so deducted
or withheld; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) if such receipts are not issued by the taxation authorities concerned on payment to them of amounts so
deducted or withheld, a certificate of deduction or equivalent
evidence of the relevant deduction or withholding; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) pay to the Lender such additional amount as is necessary to ensure that the net
full amount received by the Lender after the required deduction or withholding is equal to the amount that the Lender would have received
had no such deduction or withholding been made.

**8.** **R emedies , waivers , amendments and consents** 

8.1 No amendment of this agreement shall be effective unless
it is in writing and signed by, or on behalf of, each party to it (or its authorised representative).

8.2 A waiver of any right or remedy under this agreement or by law, or any consent given
under this agreement, is only effective if given in writing by the waiving or consenting party and shall not be deemed a waiver of any
other breach or default. It only applies in the circumstances for which it is given and shall not prevent the party giving it from subsequently
relying on the relevant provision.

8.3 A failure or delay by a party to exercise any right or remedy provided under this
agreement or by law shall not constitute a waiver of that or any other right or remedy, prevent or restrict any further exercise of that
or any other right or remedy or constitute an election to affirm this agreement. No single or partial exercise of any right or remedy
provided under this agreement or by law shall prevent or restrict the further exercise of that or any other right or remedy. No election
to affirm this agreement by the Lender shall be effective unless it is in writing.

8.4 The rights and remedies provided under this agreement are cumulative and are in
addition to, and not exclusive of, any rights and remedies provided by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.** **S everance** 

If any provision (or part of a provision) of this agreement is or becomes invalid, illegal or unenforceable, it shall be deemed modified to the minimum extent necessary to make it valid, legal and enforceable. If such modification is not possible, the relevant provision (or part of a provision) shall be deemed deleted. Any modification to or deletion of a provision (or part of a provision) under this clause shall not affect the legality, validity and enforceability of the rest of this agreement.

**10.** **A ssignment** 

Neither party may assign any of its rights or transfer any of its rights and obligations under this agreement without the written consent of the other.

**11.** **N otices** 

Each notice or other communication required to be given under, or in connection with, this agreement shall be in writing, delivered personally or sent by courier or fax or by e-mail and sent to the address (and the department or officer, if any, for whose attention the communication is to be made) of each party identified with its name above and to the fax numbers or email addresses or to any other addresses that are notified in writing by one party to the other from time to time.

**12.** **C ounterparts** 

This agreement may be executed in any number of counterparts, each of which when executed shall constitute a duplicate original, but all the counterparts shall together constitute one agreement.

13. [RESERVED]

**14.** **G overning law and jurisdiction** 

14.1 This Agreement and any dispute or claim arising out of, or in connection with, it
or its subject matter or formation (including non-contractual disputes or claims) shall be governed by and construed in accordance with
the law of the State of New York.

14.2 Excepting matters for injunctive relief, any dispute, controversy, or claim arising
out of or in connection with this contract, or the existence, interpretation, application, breach, termination, or invalidity thereof,
shall be finally resolved by arbitration in accordance with the Rules of Arbitration of the OIC-AC (the "Rules") in force
on the date of the submission of the Notice of Arbitration in accordance with those Rules. The arbitral tribunal shall consist of one
arbitrator appointed in accordance with the Rules. The seat of the arbitration shall be New York, New York and the language of the arbitration
proceedings shall be English.

**IN WITNESS WHEREOF**, the Parties indicate agreement and acceptance of all terms and provisions herein by execution of this Agreement as of the dates indicated below.

---

| |
|:---|
| **LENDER** |
| [_______________________] |
| By: |
| Name: |
| Title: |
| **BORROWER** |
| [_______________________] |
| By: |
| Name: |
| Title: |

---

## Ex1Sa-6

**Exhibit 6.9**

![](ex6-9_001.jpg)

dotloop signature verification: dtlp.us/Yntx - sA0F - F2Je _____, _____ _____,_____, _____,_____ WFL 1. PARTIES: The parties to this lease are: the owner of the Property, Landlord ,: Wahed Financial Llc ; and Tenant(s) : [ ] . 2. PROPERTY: Landlord leases to Tenant the following real property: Address: 6724 Lake Overlook Drive, Fort Worth, TX 76135 legally described as: in Tarrant County, Texas, together with the following non - real - property items: . The real property and the non - real - property are collectively called the "Property". 3. TERM: A. Primary Term : The primary term of this lease begins and ends as follows: Commencement Date: [DATE] Expiration Date: [DATE] . B. Delay of Occupancy : Tenant must occupy the Property within 5 days after the Commencement Date . If Tenant is unable to occupy the Property by the 5 th day after the Commencement Date because of construction on the Property or a prior tenant's holding over of the Property, Tenant may terminate this lease by giving written notice to Landlord before the Property becomes available to be occupied by Tenant, and Landlord will refund to Tenant the security deposit and any rent paid . Landlord will abate rent on a daily basis for a delay caused by construction or a prior tenant's holding over . This paragraph does not apply to any delay in occupancy caused by cleaning, repairs, or make - ready items . 3. AUTOMATIC RENEWAL AND NOTICE OF TERMINATION : This lease automatically renews on a month - to - month basis unless Landlord or Tenant provides the other party written notice of termination as provided in Paragraph 4 A . Oral notice of termination is not sufficient under any circumstances . Time is of the essence for providing notice of termination (strict compliance with dates by which notice must be provided is required) . The date on which rent is due does not apply to the requirement for providing written notice of termination . Paragraph 4 B applies only if the lease renews on a month - to - month basis . If a box is not checked under Paragraph 4 A, Paragraph 4 A(1) will apply . If a box is not checked under Paragraph 4 B, Paragraph 4 B(1) will apply . A. This lease automatically renews on a month - to - month basis unless Landlord or Tenant provides the other party written notice of termination not less than: (Check only one box.) □ (1) 30 days before the Expiration Date. □ (2) days before the Expiration Date. RESIDENTIAL LEASE USE OF THIS FORM BY PERSONS WHO ARE NOT MEMBERS OF THE TEXAS ASSOCIATION OF REALTORS®, INC. IS NOT AUTHORIZED.©Texas Association of REALTORS®, Inc. 2022 (TXR - 2001) 07 - 08 - 22 Landlord or Landlord's Representative: & Tenants : Page 1 of 17 12:27 PM CDT 1:31 PM CDT 12:08 PM CDT dotloop verified dotloop verified dotloop verified GO Real Estate Group 2701 West Plano Parkway, suite 650 Plano, TX 75075 214 - 326 - 0856 "Momo" Mohamed

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dotloop signature verification: dtlp.us/Yntx - sA0F - F2Je ____________ □ ______________ ______________________ □ □ □ C. Place of Payment : Unless this lease provides otherwise, Tenant will remit all amounts due to Landlord under this lease to the following person or entity at the place stated and make all payments payable to the named person or entity . Landlord may later designate, in writing, another person or place to which Tenant must remit amounts due under this lease . Name: GO Property Managers Address: Notice: Place the Property address and Tenant's name on all payments. D. Method of Payment : (1) Tenant must pay all rent timely and without demand, deduction, or offset, except as permitted by law or this lease. (2) Time is of the essence for the payment of rent (strict compliance with rental due dates is required). (3) Unless the parties agree otherwise, Tenant may not pay rent in cash and will pay all rent by (select one or more) : cashier's check □ electronic paymen □ t money ord □ er personal check or □ other means acceptable to Landlord. Landlord □ may or □ may not charge a reasonable fee to process or accept payment by (select one or more only if Landlord indicates a reasonable fee may □ other be charged) : □ cashier's check □ electronic payment □ money order □ personal check or means acceptable to Landlord. (4) Landlord □ requires □ does not require Tenant(s) to pay monthly rents by one payment. _____, _____ _____,_____, _____,_____ Residential Lease concerning: 6724 Lake Overlook Drive, Fort Worth, TX 76135 If Landlord or Tenant fails to provide the other party timely written notice of termination as required by paragraph 4 A, the lease automatically renews on a month - to - month basis . The Landlord or Tenant then must provide a subsequent written notice of termination as required by paragraph 4 B . B . If this lease automatically renews on a month - to - month basis, it will continue to renew on a month - to - month basis until either party provides written notice of termination to the other party and the notice of termination will be effective : (Check only one box .) □ (1) on the last day of the month following the month in which the notice is given . Landlord is not obligated to prorate rent even if Tenant surrenders the Property before the termination date . □ (2) on the date designated in the notice but not sooner than 30 days after the notice is given and, if necessary, rent will be prorated on a daily basis . 5. RENT: A. Monthly Rent : The monthly rent is $[ AMOUNT] . Tenant will pay the monthly rent so that Landlord receives the monthly rent on or before (check only one box) : □ (1) the first day of each month during this lease. □ (2) . Weekends, holidays, and mail delays do not excuse Tenant's obligation to timely pay rent . Tenant will pay first month's rent made payable to □ Landlord or □ Listing Broker or □ Property Manager . The first month's rent is due and payable not later than [ DATE] by (select one or more) : □ cashier's check □ electronic payment □ money order personal check or □ other means acceptable to Landlord . WFL 05/30/25 B. Prorated Rent: The prorated rent of $ is due on or before electronic payment □ money order personal check or by (select one or more) : □ cashier's check □ other means acceptable to Landlord. (TXR - 2001) 07 - 08 - 22 Landlord or Landlord's Representative: & Tenants: Page 2 of 17 12:27 PM CDT dotloop verified 1:31 PM CDT 12:08 PM CDT dotloop verified dotloop verified GO Real Estate Group 2701 West Plano Parkway, suite 650 Plano, TX 75075 214 - 326 - 0856 "Momo" Mohamed

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dotloop signature verification: dtlp.us/Yntx - sA0F - F2Je _______ ____ _____, _____ _____,_____, _____,_____ WFL Residential Lease concerning: 6724 Lake Overlook Drive, Fort Worth, TX 76135 (5) If Tenant fails to timely pay any amounts due under this lease or if any check of Tenant is not honored by the institution on which it was drawn, Landlord may require Tenant to pay such amount and any subsequent amounts under this lease in certified funds . This paragraph does not limit Landlord from seeking other remedies under this lease for Tenant's failure to make timely payments with good funds . E . Rent Increases : There will be no rent increases through the primary term . Landlord may increase the rent that will be paid during any month - to - month renewal period by providing at least 30 days written notice to Tenant . 6. LATE CHARGES: A. If Landlord does not actually receive a rent payment in the full amount at the designated place of payment by the day of each month at 11:59pm, Tenant will pay Landlord for each late payment: (1) an initial late charge equal to (check one box only) : □ (a) $[ ] ; or □ (b) % of one month's rent; and (2) additional late charges of $[ ] per day thereafter until rent and late charges are paid in full. Additional late charges for any one payment may not exceed more than 30 days. Notice: † 92.019, Property Code prohibits assessing a late fee until rent has remained unpaid for at least two full days after the date on which the rent is due. B. For the purposes of paying rent and any late charges, the mailbox is not the agent for receipt for Landlord (the postmark date is not the date Landlord receives the payment) . The parties agree that the late charge is reasonable based on uncertain damages to the Landlord related to the late payment of rent, including direct or indirect expenses, direct or indirect costs, or overhead associated with the collection of late payment . Landlord's acceptance of a late charge does not waive Landlord's right to exercise remedies under Paragraph 27 . 6. RETURNED PAYMENT : Tenant will pay Landlord $[ ] for each payment Tenant tenders to Landlord which is returned or not honored by the institution on which it is drawn for any reason, plus any late charges until Landlord receives payment . Tenant must make any returned payment good by paying such amount(s) plus any associated charges in certified funds . 7. APPLICATION OF FUNDS : Regardless of any notation on a payment, Landlord may apply funds received from Tenant first to any non - rent obligations of Tenant, including but not limited to, late charges, returned payment charges, repairs, brokerage fees, periodic utilities, animal charges, and then to rent . 8. ANIMALS: A. Unless the parties agree otherwise in writing, Tenant may not permit, even temporarily, any animal on the Property (including but not limited to any mammal, reptile, bird, fish, rodent, or insect) . An assistance animal is not considered a pet but is still required to be reported to the Landlord with accompanying documentation as required by the Texas Department of Housing and Community Affairs . B. If Tenant violates this Paragraph 9 or any agreement to keep an animal on the Property, Landlord may take all or any of the following action: (1) declare Tenant to be in default of this lease and exercise Landlord's remedies under Paragraph 27; (2) charge Tenant, as additional rent, an initial amount of $[ ] and $[ ] per day thereafter per animal for each day Tenant violates the animal restrictions; (TXR - 2001) 07 - 08 - 22 Landlord or Landlord's Representative: & Tenants: Page 3 of 17 12:27 PM CDT dotloop verified 1:31 PM CDT 12:08 PM CDT dotloop verified dotloop verified GO Real Estate Group 2701 West Plano Parkway, suite 650 Plano, TX 75075 214 - 326 - 0856 "Momo" Mohamed

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dotloop signature verification: dtlp.us/Yntx - sA0F - F2Je □ _____, _____ _____,_____, _____,_____ WFL 05/30/25 Residential Lease concerning: 6724 Lake Overlook Drive, Fort Worth, TX 76135 (3) remove or cause to be removed any unauthorized animal and deliver it to appropriate local authorities by providing at least 24 - hour written notice to Tenant of Landlord's intention to remove the unauthorized animal ; and (4) charge to Tenant the Landlord's cost to : (a) remove any unauthorized animal; (b) exterminate the Property for fleas and other insects; (c) clean and deodorize the Property's carpets and drapes; and (d) repair any damage to the Property caused by the unauthorized animal. C. When taking any action under Paragraph 9B Landlord will not be liable for any harm, injury, death, or sickness to any animal. 10. SECURITY DEPOSIT: A. Security Deposit : On or before execution of this lease, Tenant will pay a security deposit to Landlord in the amount of $[ ] by (select one or more) : □ cashier's check □ electronic payment □ money order personal check or □ other means acceptable to Landlord. "Security deposit" has the meaning assigned to that term in † 92.102, Property Code. Any additional deposits Tenant pays to Landlord, other than the security deposit, will become part of the security deposit. B. Interest : No interest or income will be paid to Tenant on the security deposit . Landlord may place the security deposit in an interest - bearing or income - producing account and any interest or income earned will be paid to Landlord or Landlord's representative . C. Refund : Tenant must give Landlord at least thirty (30) days written notice of surrender before Landlord is obligated to account for or refund the security deposit . Any refund of the security deposit will be made payable to all Tenants named in this lease . Notices about Security Deposits : (1) † 92 . 108 , Property Code provides that a tenant may not withhold payment of any portion of the last month's rent on grounds that the security deposit is security for unpaid rent . (2) Bad faith violations of † 92 . 108 may subject a tenant to liability up to 3 times the rent wrongfully withheld and the landlord's reasonable attorney's fees . (3) The Property Code does not obligate a landlord to return or account for the security deposit until the tenant surrenders the Property and gives the landlord a written statement of the tenant's forwarding address, after which the landlord has 30 days in which to account . (4) "Surrender" is defined in Paragraph 16 of this lease . (5) One may view the Texas Property Code at the Texas Legislature's website which, as of the date shown in the lower left - hand corner of this form, is http : //www . statutes . legis . state . tx . us/ . D . Deductions : (1) Landlord may deduct reasonable charges from the security deposit for: (a) damages to the Property, excluding normal wear and tear, and all reasonable costs associated to repair the Property; (b) costs for which Tenant is responsible to clean, deodorize, exterminate, and maintain the Property; (c) unpaid or accelerated rent; (d) unpaid late charges; (e) unpaid utilities and utility expenses Landlord incurs to maintain utilities to the Property as required by this Lease; (TXR - 2001) 07 - 08 - 22 Landlord or Landlord's Representative: & Tenants: Page 4 of 17 12:27 PM CDT dotloop verified 1:31 PM CDT 12:08 PM CDT dotloop verified dotloop verified GO Real Estate Group 2701 West Plano Parkway, suite 650 Plano, TX 75075 214 - 326 - 0856 "Momo" Mohamed

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dotloop signature verification: dtlp.us/Yntx - sA0F - F2Je . . _____, _____ _____,_____, _____,_____ WFL Residential Lease concerning: 6724 Lake Overlook Drive, Fort Worth, TX 76135 (f) unpaid pet charges; (g) replacing unreturned keys, garage door openers, security devices, or other components; (h) the removal of unauthorized locks or fixtures installed by Tenant; (i) Landlord's cost to access the Property if made inaccessible by Tenant; (j) missing or burned - out light bulbs and fluorescent tubes (at the same location and of the same type and quality that are in the Property on the Commencement Date); (k) packing, removing, and storing abandoned property; (l) removing abandoned or illegally parked vehicles; (m) costs of reletting (as defined in Paragraph 27), if Tenant is in default; (n) attorney's fees, costs of court, costs of service, and other reasonable costs incurred in any legal proceeding against Tenant; (o) mailing costs associated with sending notices to Tenant for any violations of this lease; (p) any other unpaid charges or fees or other items for which Tenant is responsible under this lease; (q) cost to restore walls, flooring, landscaping or any alteration to the Property not approved in writing by Landlord; (r) damages to the Property caused by smoking, including but not limited to stains, burns, odors, and removal of debris; and (s) costs to rekey certain security devices, as provided in Paragraph 19. (2) If deductions exceed the security deposit, Tenant will pay to Landlord the excess within 10 days after Landlord makes written demand. 11. UTILITIES: A. Tenant will pay all connection fees, service fees, usage fees, and all other costs and fees for all utilities to the Property (for example, electricity, gas, water, wastewater, garbage, telephone, alarm monitoring systems, cable, and Internet connections) except the following which Landlord will pay: [ ] Unless otherwise agreed, amounts under this paragraph are payable directly to the service providers. B. Unless provided by Landlord, Tenant must, at a minimum, keep the following utilities on, if available, at all times this lease is in effect : gas ; electricity ; water ; wastewater ; and garbage services . Notice: Before signing this lease, Tenant should determine if all necessary utilities are available to the Property and are adequate for Tenant's use . 12. USE AND OCCUPANCY: A. Occupants : Tenant may use the Property as a private residence only . The only persons Tenant may permit to reside on the Property during the term of this lease are (include names and ages of all occupants) : [ ] [ ] B. Phone Numbers and E - mail : Tenant must promptly inform Landlord of any changes in Tenant's phone numbers (home, work, and mobile) and e - mail not later than 5 days after a change . (TXR - 2001) 07 - 08 - 22 Landlord or Landlord's Representative: & Tenants: Page 5 of 17 12:27 PM CDT dotloop verified 1:31 PM CDT 12:08 PM CDT dotloop verified dotloop verified GO Real Estate Group 2701 West Plano Parkway, suite 650 Plano, TX 75075 214 - 326 - 0856 "Momo" Mohamed

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dotloop signature verification: dtlp.us/Yntx - sA0F - F2Je Residential Lease concerning: 6724 Lake Overlook Drive, Fort Worth, TX 76135 □ □ _______________________ __________________________________________________________________________________ _____, _____ _____,_____, _____,_____ WFL C. (Include the name of the HOA if there is one) . Tenant must comply with any owners' association rules or restrictive covenants affecting the Property . Tenant will reimburse Landlord for any fines or other charges assessed against Landlord for violations by Tenant of any owners' association rule or restrictive covenant, and any resulting administrative fees assessed by Landlord's agents or any other entity as provided by law . D. Prohibitions : Unless otherwise authorized by this lease, Tenant may not install or permit any of the following on the Property, even temporarily : a spa, hot tub, above - ground pool, trampoline, or any item which causes a suspension or cancellation of insurance coverage or an increase in insurance premiums . Tenant may not permit any part of the Property to be used for : (1) any activity which is a nuisance, offensive, noisy, or dangerous ; (2) the repair of any vehicle ; (3) any business of any type, including but not limited to child care ; (4) any activity which violates any zoning ordinance, owners' association rule, or restrictive covenant ; (5) any illegal or unlawful activity, including but not limited to, the planting, growth, consumption, or distribution of cannabis plants or products ; or (6) activity that obstructs, interferes with, or infringes on the rights of other persons near the Property . Tenant may not list any part of the Property on any lodging or short - term rental website or with any person or service that advertises Properties for rent . E. Guests : Tenant may not permit any guest to stay on the Property longer than the amount of time permitted by any owners' association rule or restrictive c oven a o n r t consecutive days without Landlord's written permission, whichever is less . No guests are permitted to stay on the Property more than twice the number of days in the space above in any 30 - day period . If the above space is not filled in, two (2) days total per month will apply . F. Common Areas : Landlord is not obligated to pay any non - mandatory or user fees for Tenant's use of any common areas or facilities (for example, pool or tennis courts) . 13. PARKING RULES : Tenant may not permit more than [ ] vehicles, including but not limited to automobiles, trucks, recreational vehicles, trailers, motorcycles, all - terrain vehicles, jet skis, and boats, on the Property unless authorized by Landlord in writing . Tenant may not park or permit any person to park any vehicles in the yard . Tenant may permit vehicles to be parked only in drives, garages, designated common parking areas, or in the street if not prohibited by law or an owners' association . Tenant may not store or permit any person to store any vehicles on or adjacent to the Property or on the street in front of the Property . In accordance with applicable state and local laws, Landlord may have towed, at Tenant's expense : (a) any inoperative vehicle on or adjacent to the Property ; (b) any vehicle parked in violation of this paragraph or any additional parking rules made part of this lease ; or (c) any vehicle parked in violation of any law, local ordinance, or owners' association rule . Tenant must promptly inform Landlord of any changes in Tenant's vehicle information (type, year, make, model, and license plate number including state) not later than 5 days after a change . 14. ACCESS BY LANDLORD: A. Advertising : Landlord may prominently display a "For Sale" or "For Lease" or similarly worded sign on the Property during the term of this lease or any renewal period . Landlord or Landlord's contractor may take interior or exterior photographs or images of the Property and use the photographs or images in any advertisements to lease or sell the Property . B. Access : Before accessing the Property, Landlord or anyone authorized by Landlord will attempt to first contact Tenant, but may enter the Property at reasonable times without notice to make repairs or to show (TXR - 2001) 07 - 08 - 22 Landlord or Landlord's Representative: & Tenants: Page 6 of 17 12:27 PM CDT dotloop verified 1:31 PM CDT 12:08 PM CDT dotloop verified dotloop verified [ ] GO Real Estate Group 2701 West Plano Parkway, suite 650 Plano, TX 75075 214 - 326 - 0856 "Momo" Mohamed

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dotloop signature verification: dtlp.us/Yntx - sA0F - F2Je Residential Lease concerning: 6724 Lake Overlook Drive, Fort Worth, TX 76135 the Property to prospective tenants or buyers, inspectors, fire marshals, lenders, appraisers, or insurance agents . Additionally, Landlord or anyone authorized by Landlord may peacefully enter the Property at reasonable times without first attempting to contact Tenant and without notice to : (1) survey or review the Property's condition and take photographs to document the condition ; (2) make emergency repairs ; (3) exercise a contractual or statutory lien ; (4) leave written notices ; or (5) seize nonexempt property if Tenant is in default . C . Trip Charges : If Landlord or Landlord's agents have made prior arrangements with Tenant to access the Property and are denied or are not able to access the Property because of Tenant's failure to make the Property accessible (including, but not limited to, any occupant, guest or invitee of Tenant, pet, or security device prohibiting access to any area of the Property), Landlord may charge Tenant a trip charge of $[ ] . D . Keybox : A keybox is a locked container placed on the Property holding a key to the Property . The keybox is opened by a special combination, key, or programmed access device so that persons with the access device may enter the Property, even in Tenant's absence . The keybox is a convenience but involves risk (such as unauthorized entry, theft, property damage, or personal injury) . Neither the Association of REALTORS® nor MLS requires the use of a keybox . (1) Tenant authorizes Landlord, Landlord's property manager, and Landlord's broker to place on the Property a keybox containing a key to the Property: (a) during the last [ ] days of this lease or any renewal or extension; and (b) at any time Landlord lists the Property for sale with a Texas licensed broker. (2) Tenant may withdraw Tenant's authorization to place a keybox on the Property by providing written notice to Landlord and paying Landlord a fee of $[ ] as consideration for the withdrawal . Landlord will remove the keybox within a reasonable time after receipt of the notice of withdrawal and payment of the required fee . Removal of the keybox does not alleviate Tenant's obligation to make the Property available for showings as indicated in Paragraph 14 B . (3) If Landlord or Landlord's agents are denied or are not able to access the Property after first attempting to contact Tenant, Landlord may charge Tenant a trip charge as provided in Paragraph 14C. (4) Landlord, the property manager, and Landlord's broker are not responsible to Tenant, Tenant's guests, family, or occupants for any damages, injuries, or losses arising from use of the keybox unless caused by Landlord, the property manager, or Landlord's broker . 15. MOVE - IN CONDITION: A. SIGHT UNSEEN NOTICE : Tenant is given the opportunity to inspect the Property prior to signing the lease . A Tenant who declines to do so and chooses to sign the Lease on the Property sight unseen does so at their own risk . Tenant accepts the Property "as is" and Landlord is under no obligation to make any changes upon Tenant viewing the Property . Tenant will be bound to all provisions of the Lease irrespective of Tenant viewing the Property before signing the Lease . B. Landlord makes no express or implied warranties as to the Property's condition . Tenant has inspected the Property and accepts it AS - IS provided that Landlord : . _____, _____ _____,_____, _____,_____ WFL 05/30/25 (TXR - 2001) 07 - 08 - 22 Landlord or Landlord's Representative: & Tenants: Page 7 of 17 12:27 PM CDT dotloop verified 1:31 PM CDT 12:08 PM CDT dotloop verified dotloop verified GO Real Estate Group 2701 West Plano Parkway, suite 650 Plano, TX 75075 214 - 326 - 0856 "Momo" Mohamed

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dotloop signature verification: dtlp.us/Yntx - sA0F - F2Je Residential Lease concerning: 6724 Lake Overlook Drive, Fort Worth, TX 76135 C . Tenant will complete an Inventory and Condition Form, noting any damages to the Property, and deliver it to Landlord within [ ] days after the Commencement Date . If Tenant fails to timely deliver the Inventory and Condition Form, the Property will be deemed to be free of damages, unless otherwise expressed in this lease . The Inventory and Condition Form is not a request for repairs . Tenant must direct all requests for repairs in compliance with Paragraph 18 . 16. MOVE - OUT: A. Move - Out Condition : When this lease ends, Tenant will surrender the Property in the same condition as when received, normal wear and tear excepted . Tenant will leave the Property in a clean condition free of all trash, debris, and any personal property . Tenant may not abandon the Property . B. Definitions : (1) " Normal wear and tear " means deterioration that occurs without negligence, carelessness, accident, or abuse. (2) " Surrender " occurs when all occupants have vacated the Property, in Landlord's reasonable judgment, and one of the following events occurs: (a) the date Tenant specifies as the move - out or termination date in a written notice to Landlord has passed; or (b) Tenant returns keys and access devices that Landlord provided to Tenant under this lease. (3) " Abandonment " occurs when all of the following occur : (a) all occupants have vacated the Property, in Landlord's reasonable judgment ; (b) Tenant is in breach of this lease by not timely paying rent ; and (c) Landlord has delivered written notice to Tenant, by affixing it to the inside of the main entry door or if the Landlord is prevented from entering the Property by affixing it to the outside of the main entry door, stating that Landlord considers the Property abandoned, and Tenant fails to respond to the affixed notice by the time required in the notice, which will not be less than 2 days from the date the notice is affixed to the main entry door . C. Personal Property Left After Move - Out : (1) If Tenant leaves any personal property in the Property after surrendering or abandoning the Property Landlord may: (a) dispose of such personal property in the trash or a landfill; (b) give such personal property to a charitable organization; or (c) store and sell such personal property by following procedures in † 54.045(b) - (e), Property Code. (2) Tenant must reimburse Landlord all Landlord's reasonable costs under Paragraph 16 C(1) for packing, removing, storing, and selling the personal property left in the Property after surrender or abandonment . 17. PROPERTY MAINTENANCE: A. Tenant's General Responsibilities : Tenant, at Tenant's expense, must: (1) keep the Property clean and sanitary; (2) promptly dispose of all garbage in appropriate receptacles; _____, _____ _____,_____, _____,_____ WFL 05/30/25 (TXR - 2001) 07 - 08 - 22 Landlord or Landlord's Representative: & Tenants: Page 8 of 17 12:27 PM CDT dotloop verified 1:31 PM CDT 12:08 PM CDT dotloop verified dotloop verified GO Real Estate Group 2701 West Plano Parkway, suite 650 Plano, TX 75075 214 - 326 - 0856 "Momo" Mohamed

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dotloop signature verification: dtlp.us/Yntx - sA0F - F2Je Residential Lease concerning: 6724 Lake Overlook Drive, Fort Worth, TX 76135 □ _____, _____ _____,_____, _____,_____ WFL 05/30/25 (10) (11) (12) (3) supply and change heating and air conditioning filters per manufacturer's instructions ; (4) supply and replace all light bulbs, fluorescent tubes, and batteries for smoke alarms, carbon monoxide detectors, garage door openers, ceiling fan remotes, and other devices (of the same type and quality that are in the Property on the Commencement Date) ; (5) maintain appropriate levels of necessary chemicals or matter in any water softener; (6) take action to promptly eliminate any dangerous condition on the Property; (7) take all necessary precautions to prevent broken water pipes due to freezing or other causes; (8) replace any lost or misplaced keys; (9) pay any periodic, preventive, or additional extermination costs desired by Tenant, including treatment for bed bugs, unless otherwise required by law; remove any standing water; know the location and operation of the main water cut - off valve and all electric breakers and how to switch the valve or breakers off at appropriate times to mitigate any potential damage; water the foundation of the Property at reasonable and appropriate times; (13) supply and change water filtration systems, including but not limited to, refrigerator water filters; and (14) promptly notify Landlord, in writing, of all needed repairs. B. Yard Maintenance : (1) "Yard" means all lawns, shrubbery, bushes, flowers, gardens, trees, rock or other landscaping, and other foliage on or encroaching on the Property or on any easement appurtenant to the Property, and does not include common areas maintained by an owners' association . (2) "Maintain the yard" means to perform activities such as, but not limited to : (a) mowing, fertilizing, and trimming the yard ; (b) controlling pests and weeds in the yard ; and (c) removing debris from the yard . (3) Unless prohibited by ordinance or other law, Tenant will water the yard at reasonable and appropriate times including but not limited to the following times : . Other than watering, the yard will be maintained as follows : □ (a) Landlord, at Landlord's expense, will maintain the yard . Tenant will permit Landlord and Landlord's contractors reasonable access to the yard and will remove any pet from the yard at appropriate times . □ (b) Tenant, at Tenant's expense, will maintain the yard. □ (c) Tenant will maintain in effect a scheduled yard maintenance contract with : □ a contractor who regularly provides such service ; . C . Pool/Spa Maintenance : Any pool or spa on the Property will be maintained according to a Pool/Spa Maintenance Addendum . D . Prohibitions : If Tenant installs any fixtures on the Property, authorized or unauthorized, such as additional smoke alarms, additional carbon monoxide detectors, locks, alarm systems, cables, satellite dishes, or other fixtures, such fixtures will become the property of the Landlord . Except as otherwise permitted by law, this lease, or in writing by Landlord, Tenant may not : (1) remove any part of the Property or any of Landlord's personal property from the Property ; (2) remove, change, add, or rekey any lock ; (3) make holes in the woodwork, floors, or walls, except that a reasonable number of small nails may be used to hang pictures in sheetrock and grooves in paneling ; (TXR - 2001) 07 - 08 - 22 Landlord or Landlord's Representative: & Tenants: Page 9 of 17 12:27 PM CDT dotloop verified 1:31 PM CDT 12:08 PM CDT dotloop verified dotloop verified GO Real Estate Group 2701 West Plano Parkway, suite 650 Plano, TX 75075 214 - 326 - 0856 "Momo" Mohamed

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dotloop signature verification: dtlp.us/Yntx - sA0F - F2Je Residential Lease concerning: 6724 Lake Overlook Drive, Fort Worth, TX 76135 E. Failure to Maintain : If Tenant fails to comply with this Paragraph 17 or any Pool/Spa Maintenance Addendum, Landlord may, in addition to exercising Landlord's remedies under Paragraph 27, perform whatever action Tenant is obligated to perform and Tenant must immediately reimburse Landlord the reasonable expenses that Landlord incurs plus any administrative fees assessed by Landlord's agents or any other entity as provided by law. F . Smoking : Smoking, including vaping or tobacco pipes of any type, by Tenant, Tenant's guests, family, or occupants is □ permitted □ not permitted on the Property (including, but not limited to, the garage or outdoor areas of the Property) . If smoking is not permitted and does occur on the Property, Tenant will be in default and : (1) Landlord may exercise Landlord's remedies under Paragraph 27 ; and (2) Landlord may deduct from the security deposit damages to the Property caused by smoking, including but not limited to stains, burns, odors, and removal of debris . 18. REPAIRS: (Notice: Subchapter B, Chapter 92, Property Code governs repair obligations). A. Repair Requests : All requests for repairs must be in writing and delivered to Landlord . If Tenant is delinquent in rent at the time a repair notice is given, Landlord is not obligated to make the repair . In the event of an emergency related to the condition of the Property that materially affects the physical health or safety of an ordinary tenant, Tenant may call Landlord or, if applicable, the property manager, a t [ ] . Ordinarily, a repair to the heating and air conditioning system is not an emergency . B. NOTICE : If Landlord fails to repair a condition that materially affects the physical health or safety of an ordinary tenant as required by this lease or the Property Code, Tenant may be entitled to exercise remedies under † 92 . 056 and † 92 . 0561 of the Property Code . If Tenant follows the procedures under those sections, the following remedies may be available to Tenant : (1) terminate the lease and obtain an appropriate refund under † 92 . 056 (f) ; (2) have the condition repaired or remedied according to † 92 . 0561 ; (3) deduct from the rent the cost of the repair or remedy according to † 92 . 0561 ; and (4) obtain judicial remedies according to † 92 . 0563 . Do not exercise these remedies without consulting an attorney or carefully reviewing the procedures under the applicable sections . The Property Code presumes that 7 days is a reasonable period of time for the Landlord to make a diligent effort to repair a condition unless there are circumstances which establish that a different period of time is appropriate (such as the severity and nature of the condition and the availability of materials, labor, and utilities) . Failure to strictly follow the procedures in the applicable sections may cause Tenant to be in default of the lease . _____, _____ _____,_____, _____,_____ WFL (10) (11) (12) (4) permit any water furniture on the Property; (5) install additional phone or video cables, outlets, antennas, satellite receivers, or alarm systems; (6) alter, replace or remove flooring material, paint, or wallpaper; (7) install, change, or remove any: fixture, appliance, or non - real - property item listed in Paragraph 2; (8) keep or permit any hazardous material on the Property such as flammable or explosive materials; (9) keep or permit any material or item which causes any liability or fire and extended insurance coverage to be suspended or canceled or any premiums to be increased; dispose of any environmentally detrimental substance (for example, motor oil or radiator fluid) on the Property; cause or allow any lien to be filed against any portion of the Property; or disconnect or intentionally damage any carbon monoxide detector, or otherwise violate any local ordinance requiring a carbon monoxide detector in the Property. (TXR - 2001) 07 - 08 - 22 Landlord or Landlord's Representative: & Tenants: Page 10 of 17 12:27 PM CDT dotloop verified 1:31 PM CDT 12:08 PM CDT dotloop verified dotloop verified GO Real Estate Group 2701 West Plano Parkway, suite 650 Plano, TX 75075 214 - 326 - 0856 "Momo" Mohamed

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dotloop signature verification: dtlp.us/Yntx - sA0F - F2Je Residential Lease concerning: 6724 Lake Overlook Drive, Fort Worth, TX 76135 C. Completion of Repairs : (1) Tenant may not repair or cause to be repaired any condition, regardless of the cause, without Landlord's permission . All decisions regarding repairs, including the completion of any repair, whether to repair or replace the item, and the selection of contractors, will be at Landlord's sole discretion . (2) Landlord is not obligated to complete a repair on a day other than a business day unless required to do so by the Property Code. D. Payment of Repair Costs : (1) Except as otherwise specified in this lease, Landlord will pay to repair or remedy conditions in the Property in need of repair if Tenant complies with the procedures for requesting repairs as described in this Paragraph 18 . This includes, but is not limited to, repairs to the following items not caused by Tenant or Tenant's negligence : (a) heating and air conditioning systems; (b) water heaters; or (c) water penetration from structural defects. (2) Except for those conditions caused by the negligence of Landlord, Tenant will pay to repair the following conditions: (a) conditions caused by Tenant, an Occupant, or any guest or invitee of Tenant; (b) damage to doors, windows, and screens; (c) damage from windows or doors left open; (d) damage from wastewater stoppages caused by foreign or improper objects in lines that exclusively serve the Property; (e) items that are cosmetic in nature with no impact on the functionality or use of the item; and (f) the following specific items or appliances: . _____, _____ _____,_____, _____,_____ WFL E . Trip Charges : If a repair person is unable to access the Property after making arrangements with Tenant to complete the repair, Tenant will pay any trip charge the repair person may charge, which amount may be different from the amount stated in Paragraph 14 C . F . Advance Payments and Reimbursements : Landlord may require advance payment of repairs or payments under this Paragraph 18 for which Tenant is responsible . Tenant must promptly reimburse Landlord the amounts under this Paragraph 18 for which Tenant is responsible . 19. SECURITY DEVICES AND EXTERIOR DOOR LOCKS: A. Subchapter D, Chapter 92 , Property Code requires the Property to be equipped with certain types of locks and security devices, including (with some exceptions) : (1) window latches on each window ; (2) a keyed doorknob lock or keyed deadbolt lock on each exterior door ; (3) a sliding door pin lock on each exterior sliding glass door of the dwelling ; (4) a sliding door handle latch or a sliding door security bar on each exterior sliding glass door of the dwelling ; and (5) a keyless bolting device and a door viewer on each exterior door of the dwelling . Landlord has rekeyed the security devices since the last occupant GO Real Estate Group 2701 West Plano Parkway, suite 650 Plano, TX 75075 214 - 326 - 0856 "Momo" Mohamed (TXR - 2001) 07 - 08 - 22 Landlord or Landlord's Representative: & Tenants: Page 11 of 17 12:27 PM CDT dotloop verified 1:31 PM CDT 12:08 PM CDT dotloop verified dotloop verified

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dotloop signature verification: dtlp.us/Yntx - sA0F - F2Je Residential Lease concerning: 6724 Lake Overlook Drive, Fort Worth, TX 76135 vacated the Property or will rekey the security devices within 7 days after Tenant moves in. "Security device" has the meaning assigned to that term in † 92.151, Property Code. B. All notices or requests by Tenant for rekeying, changing, installing, repairing, or replacing security devices must be in writing . Installation of additional security devices or additional rekeying or replacement of security devices desired by Tenant may be paid by Tenant in advance in accordance with † 92 . 162 (c), Property Code, and may be installed only by contractors authorized by Landlord . C. If Tenant vacates the Property in breach of this lease, Landlord may deduct from the security deposit reasonable costs incurred by Landlord to rekey security devices as authorized by † 92 . 156 (e), Property Code . 20. SMOKE ALARMS : Subchapter F, Chapter 92 , Property Code requires the Property to be equipped with smoke alarms in certain locations . Requests for additional installation, inspection, or repair of smoke alarms must be in writing . Disconnecting or intentionally damaging a smoke alarm or removing a battery without immediately replacing it with a working battery may subject Tenant to civil penalties and liability for damages and attorney fees under † 92 . 2611 , Property Code . 21. LIABILITY : Unless caused by Landlord, Landlord is not responsible to Tenant, Tenant's guests, family, or occupants for any damages, injuries, or losses to person or property caused by fire, flood, water leaks, ice, snow, hail, winds, explosion, smoke, interruption of utilities, theft, burglary, robbery, assault, vandalism, other persons, condition of the Property, environmental contaminants (for example, carbon monoxide, asbestos, radon, lead - based paint, mold, fungus, etc .), or other occurrences or casualty losses . Unless prohibited by law, Tenant will promptly reimburse Landlord for any damages, injuries, or losses to person or property caused by Tenant, Tenant's guests, any occupants, or any pets or assistance animals, including cost of repairs or service to the Property . 22. HOLDOVER : If Tenant fails to vacate the Property at the time this lease ends Tenant will pay Landlord rent for the holdover period and indemnify Landlord and prospective tenants for damages, including but not limited to lost rent, lodging expenses, costs of eviction, and attorneys' fees . Rent for any holdover period will be three (3) times the monthly rent, calculated on a daily basis, and will be immediately due and payable daily without notice or demand . 23. RESIDENTIAL LANDLORD'S LIEN : Landlord will have a lien for unpaid rent against all of Tenant's nonexempt personal property that is in the Property and may seize such nonexempt property if Tenant fails to pay rent. Subchapter C, Chapter 54, Property Code governs the rights and obligations of the parties regarding Landlord's lien. Landlord may collect a charge for packing, removing, or storing property seized in addition to any other amounts Landlord is entitled to receive. Landlord may sell or dispose of any seized property in accordance with the provisions of † 54.045, Property Code. 24. SUBORDINATION : This lease and Tenant's leasehold interest are and will be subject, subordinate, and inferior to : (i) any lien or encumbrance now or later placed on the Property by Landlord ; (ii) all advances made under any such lien or encumbrance ; (iii) the interest payable on any such lien or encumbrance ; (iv) any and all renewals and extensions of any such lien or encumbrance ; (v) any restrictive covenant ; and (vi) the rights of any owners' association affecting the Property . 25. CASUALTY LOSS OR CONDEMNATION : Section 92 . 054 , Property Code governs the rights and obligations of the parties regarding a casualty loss to the Property . Any proceeds, payment for damages, settlements, awards, or other sums paid because of a casualty loss to the Property will be Landlord's sole property . For the purpose of this lease, any condemnation of all or a part of the Property is a casualty loss . _____, _____ _____,_____, _____,_____ WFL 05/30/25 GO Real Estate Group 2701 West Plano Parkway, suite 650 Plano, TX 75075 214 - 326 - 0856 "Momo" Mohamed (TXR - 2001) 07 - 08 - 22 Landlord or Landlord's Representative: & Tenants: Page 12 of 17 12:27 PM CDT dotloop verified 1:31 PM CDT 12:08 PM CDT dotloop verified dotloop verified

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dotloop signature verification: dtlp.us/Yntx - sA0F - F2Je Residential Lease concerning: 6724 Lake Overlook Drive, Fort Worth, TX 76135 _____, _____ _____,_____, _____,_____ WFL 26. SPECIAL PROVISIONS: (Do not insert a lease - option or lease - purchase clause without the assistance of legal counsel. Special obligations and liabilities under statute apply to such transactions.) GO Real Estate Group 2701 West Plano Parkway, suite 650 Plano, TX 75075 214 - 326 - 0856 "Momo" Mohamed 27. DEFAULT : A. If Landlord fails to comply with this lease, Tenant may seek any relief provided by law. B. If Tenant fails to timely pay all amounts due under this lease or otherwise fails to comply with this lease, Tenant will be in default and: (1) Landlord may terminate Tenant's right to occupy the Property by providing Tenant with at least one day written notice to vacate; (2) all unpaid rents which are payable during the remainder of this lease or any renewal period will be accelerated without notice or demand; (3) Landlord may exercise Landlord's lien under Paragraph 23 and any other rights under this lease or the Property Code; (4) all unpaid amounts, including judgments, will bear 18% interest or the maximum amount allowed by law per year from the due date, compounded annually; and (5) Tenant will be liable for: (a) any lost rent; (b) Landlord's cost of reletting the Property including but not limited to leasing fees, advertising fees, utility charges, and other fees reasonably necessary to relet the Property; (c) repairs to the Property for use beyond normal wear and tear; (d) all Landlord's costs associated with eviction of Tenant, including but not limited to attorney's fees, court costs, costs of service, witness fees, and prejudgment interest; (e) all Landlord's costs associated with collection of amounts due under this lease, including but not limited to collection fees, late charges, and returned check charges; and (f) any other recovery to which Landlord may be entitled by law. C. Notice to vacate under Paragraph 27B(1) may be by any means permitted by † 24.005, Property Code. D. If Tenant vacates the Property in breach of this lease, Landlord may also deduct from the security deposit the reasonable costs to rekey certain security devices, as provided in Paragraph 19. E. Landlord will attempt to mitigate any damage or loss caused by Tenant's breach by attempting to relet the Property to acceptable tenants and reducing Tenant's liability accordingly. 28. EARLY TERMINATION : This lease begins on the Commencement Date and ends on the Expiration date unless : (i) renewed under Paragraph 4 ; (ii) extended by written agreement of the parties ; or (iii) terminated earlier under Paragraph 27 , by agreement of the parties, applicable law, or this Paragraph 28 . Unless otherwise provided by law, Tenant is not entitled to early termination due to voluntary or involuntary job or school transfer, changes in marital status, loss of employment, loss of co - tenants, changes in health, purchase of property, or death . A. Special Statutory Rights Tenants may have special statutory rights to terminate the lease early in certain situations involving family violence, military deployment or transfer, or certain sex offenses or stalking. (TXR - 2001) 07 - 08 - 22 Landlord or Landlord's Representative: & Tenants: Page 13 of 17 12:27 PM CDT dotloop verified 1:31 PM CDT 12:08 PM CDT dotloop verified dotloop verified

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dotloop signature verification: dtlp.us/Yntx - sA0F - F2Je _____, _____ _____,_____, _____,_____ WFL 05/30/25 Residential Lease concerning: 6724 Lake Overlook Drive, Fort Worth, TX 76135 (1) Military : If Tenant is or becomes a servicemember or a dependent of a servicemember, Tenant may terminate this lease by delivering to Landlord a written notice of termination and a copy of an appropriate government document providing evidence of : (a) entrance into military service ; (b) military orders for a permanent change of station (PCS) ; or (c) military orders to deploy with a military unit for not less than 90 days . Termination is effective on the 30 th day after the first date on which the next rental payment is due after the date on which the notice is delivered . † 92 . 017 , Property Code governs the rights and obligations of the parties under this paragraph . (2) Family Violence : Tenant may terminate this lease if Tenant provides Landlord with a copy of documentation described under † 92 . 016 , Property Code protecting Tenant or an occupant from family violence committed by a cotenant or occupant of the Property . † 92 . 016 , Property Code governs the rights and obligations of the parties under this paragraph . If the family violence is committed by someone other than a cotenant or co - occupant of the Property, Tenant must give written notice of termination 30 days prior to the effective date of the notice . (3) Sex Offenses or Stalking : Tenant may have special statutory rights to terminate this lease in certain situations involving certain sexual offenses or stalking, if the Tenant provides Landlord with the documentation required by † 92 . 0161 , Property Code . For more information about the types of situations covered by this provision, Tenant is advised to review † 92 . 0161 , Property Code . B. Assignment, Subletting and Replacement Tenants : (1) Tenant may not assign this lease or sublet the Property without Landlord's written consent. (2) If Tenant requests an early termination of this lease under this Paragraph 28 B, Tenant may attempt to find a replacement tenant and may request Landlord to do the same . Landlord may, but is not obligated to, attempt to find a replacement tenant under this paragraph . (3) Any assignee, subtenant, or replacement tenant must, in Landlord's discretion, be acceptable as a tenant and must sign : (a) a new lease with terms not less favorable to Landlord than this lease or otherwise acceptable to Landlord ; (b) a sublease with terms approved by Landlord ; or (c) an assignment of this lease in a form approved by Landlord . (4) At the time Landlord agrees to permit an assignee, subtenant, or replacement tenant to occupy the Property, Tenant will pay Landlord: (a) if Tenant procures the assignee, subtenant, or replacement tenant: □ (i) $. □ (ii) % of one's month rent that the assignee, subtenant, or replacement tenant is to pay. (b) if Landlord procures the assignee, subtenant, or replacement tenant: □ (i) $. □ (ii) % of one's month rent that the assignee, subtenant, or replacement tenant is to pay. (5) Unless expressly stated otherwise in an assignment or sublease, Tenant will not be released from Tenant's obligations under this lease because of an assignment or sublease . An assignment of this lease or a sublease of this lease without Landlord's written consent is voidable by Landlord . (TXR - 2001) 07 - 08 - 22 Landlord or Landlord's Representative: & Tenants: Page 14 of 17 12:27 PM CDT dotloop verified 1:31 PM CDT 12:08 PM CDT dotloop verified dotloop verified GO Real Estate Group 2701 West Plano Parkway, suite 650 Plano, TX 75075 214 - 326 - 0856 "Momo" Mohamed

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dotloop signature verification: dtlp.us/Yntx - sA0F - F2Je Residential Lease concerning: 6724 Lake Overlook Drive, Fort Worth, TX 76135 29. ATTORNEY'S FEES : Any person who is a prevailing party in any legal proceeding brought under or related to the transaction described in this lease is entitled to recover prejudgment interest, attorney's fees, costs of service, and all other costs of the legal proceeding from the non - prevailing party . 30. REPRESENTATIONS : Tenant's statements in this lease and any application for rental are material representations . Each party to this lease represents that he or she is of legal age to enter into a contract . If Tenant makes a misrepresentation in this lease or in an application for rental, Tenant is in default . 31. ADDENDA : Incorporated into this lease are the following addenda, exhibits and other information . If Landlord's Rules and Regulations are made part of this lease, Tenant agrees to comply with the Rules and Regulations as Landlord may, at Landlord's discretion, amend from time to time . □ □ □ □ □ □ □ _____, _____ _____,_____, _____,_____ WFL 05/30/25 □ Addendum Regarding Rental Flood Disclosure □ Agreement Between Brokers Landlord's Rules & Regulations Owners' Association Rules Pool/Spa Maintenance Addendum Residential Lease Application Bed Bug Addendum □ Addendum Regarding Lead - Based Paint □ Inventory & Condition Form □ Landlord's Additional Parking Rules □ Animal Agreement □ Mold Remediation Consumer Protection □ Residential Lease Guaranty □ 32 . NOTICES : All notices under this lease must be in writing and are effective when hand - delivered, sent by mail, or sent by electronic transmission to (Do not insert an e - mail address or a fax number unless the party consents to receive notices under this lease at the e - mail address or fax number specified .) : Tenant at the Property and a copy to: Landlord c/o: [ ] GO Property Managers E - mail/Fax: E - mail/Fax: E - mail/Fa x E - mail/Fax: 33. AGREEMENT OF PARTIES: A. Entire Agreement : There are no oral agreements between Landlord and Tenant . This lease contains the entire agreement between Landlord and Tenant and may not be changed except by written agreement . B. Binding Effect : This lease is binding upon and inures to the benefit of the parties to this lease and their respective heirs, executors, administrators, successors, and permitted assigns . C. Joint and Several : All Tenants are jointly and severally liable for all provisions of this lease . Any act or notice to, refund to, or signature of, any one or more of the Tenants regarding any term of this lease, its extension, its renewal, or its termination is binding on all Tenants executing this lease . D. Waiver : Landlord's past delay, waiver, or non - enforcement of a rental due date or any other right will not be deemed to be a waiver of any other breach by Tenant or any other right in this lease . E. Severable Clauses : Should a court find any clause in this lease unenforceable, the remainder of this lease will not be affected and all other provisions in this lease will remain enforceable. (TXR - 2001) 07 - 08 - 22 Landlord or Landlord's Representative: & Tenants: Page 15 of 17 12:27 PM CDT dotloop verified 1:31 PM CDT 12:08 PM CDT dotloop verified dotloop verified GO Real Estate Group 2701 West Plano Parkway, suite 650 Plano, TX 75075 214 - 326 - 0856 "Momo" Mohamed

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dotloop signature verification: dtlp.us/Yntx - sA0F - F2Je Residential Lease concerning: 6724 Lake Overlook Drive, Fort Worth, TX 76135 F . Controlling Law : The laws of the State of Texas govern the interpretation, validity, performance, and enforcement of this lease . G . Copyright : If an active REALTOR® member of Texas REALTORS® does not negotiate this lease as a party or for one of the parties, with or without assistance by an active member of the State Bar of Texas, this lease is voidable at will by Tenant . 34. INFORMATION: A. Future inquiries about this lease, rental payments, and security deposits should be directed to the person listed for receipt of notices for Landlord under Paragraph 32 . B. It is Tenant's responsibility to determine, before signing this lease, if : (i) all services (e . g . , utilities, connections, schools, and transportation) are accessible to or from the Property ; (ii) such services are sufficient for Tenant's needs and wishes ; and (iii) Tenant is satisfied with the Property's condition . C. The brokers to this lease have no knowledge of whether Landlord is delinquent in the payment of any lien against the Property . D. Unpaid rent and any unpaid amount under this lease are reportable to credit reporting agencies. E. Landlord is not obligated to respond to any requests for Tenant's rental and payment history from a mortgage company or other prospective landlord until Tenant has given notice of termination of this lease and Tenant is not in breach of this lease . (Notice : Landlord or Landlord's agent may charge a reasonable fee for processing such information .) F. If all occupants over 18 years of age die during this lease, Landlord may : (i) permit the person named below to access the Property at reasonable times in Landlord's or Landlord's agent's presence ; (ii) permit the named person to remove Tenant's personal property ; and (iii) refund the security deposit, less deductions, to the named person . Section 92 . 014 , Property Code governs procedures to follow regarding a deceased tenant's personal property and security deposit . (Do not insert Tenant or Occupant names below .) Name : Phone : Address : E - mail : G. If a tenant who is the sole occupant of the Property dies before the expiration of the tenant's lease, a representative of the estate or the person named in Paragraph 34 (F) may terminate the tenant's rights and obligations under the lease if the representative or the person named in Paragraph 34 (F) provides to the Landlord written notice of the termination of the lease as required by Section 92 . 0162 , Property Code and the deceased tenant's property is removed from the leased premises in accordance with Section 92 . 014 of the Property Code and the representative or the person named in Paragraph 34 (F) signs an inventory of the removed property if required by the landlord . Termination of a lease is effective on the later of : (1) the 30 th day after the date on which the notice under Section 92 . 0162 , Property Code was provided ; or (2) the date on which all of the conditions in under Section 92 . 0162 , Property Code have been met . H. The Texas Department of Public Safety maintains a database that the public may search, at no cost, to determine if registered sex offenders are located in certain areas (see www . txdps . state . tx . us under on - _____, _____ _____,_____, _____,_____ WFL 05/30/25 (TXR - 2001) 07 - 08 - 22 Landlord or Landlord's Representative: & Tenants: Page 16 of 17 12:27 PM CDT dotloop verified 1:31 PM CDT 12:08 PM CDT dotloop verified dotloop verified GO Real Estate Group 2701 West Plano Parkway, suite 650 Plano, TX 75075 214 - 326 - 0856 "Momo" Mohamed

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dotloop signature verification: dtlp.us/Yntx - sA0F - F2Je GO Real Estate Group 2701 West Plano Parkway, suite 650 Plano, TX 75075 214 - 326 - 0856 "Momo" Mohamed _______________________ _____________________________ □ □ □ □ (TXR - 2001) 07 - 08 - 22 Landlord or Landlord's Representative:_____,_____ & Tenants:_____,_____,_____,_____ Page 17 of 17 On For Landlord's Use: \* (date), Landlord provided a copy of the lease, signed by all parties, to (Tenant) by mail e - mail fax in person. \* Note : Landlord must provide at least one copy of the lease to at least one Tenant no later than three business days after the date the lease is signed by each party to the lease . Additionally, if more than one tenant is a party to the lease, no later than three business days after the date the Landlord receives a written request for a copy of a lease from a tenant who has not already received one as required above, the Landlord must provide a copy to the requesting tenant . Landlord may provide the copy of the lease in : (1) a paper format ; (2) an electronic format if requested by the tenant ; or (3) by e - mail if the parties have communicated by e - mail regarding the lease . See † 92 . 024 , Property Code, for more details . Residential Lease concerning: 6724 Lake Overlook Drive, Fort Worth, TX 76135 line services). For information concerning past criminal activity in certain areas, contact the local police department. I. Landlord's insurance does not cover Tenant from loss of personal property . Landlord highly recommends that Tenant obtain liability insurance and insurance for casualties such as fire, flood, water damage, and theft . J. Landlord's broker , GO Property Managers , □ will □ will not act as the property manager for landlord. If Property is not managed by above - named broker, Property will be managed by □ Landlord or □ property manager for Landlord: Name of property manager: [ ] Phone: [ ] Address: 2701 W Plano Pkwy Ste 650, Plano, Texas E - mail: [ ] K. This lease should not be used in conjunction with executory contracts of any type, such as contracts for deed, leases with options to purchase, or lease options, without the advice of an attorney. L. This lease is negotiable between the parties . This lease is binding upon final acceptance . READ IT CAREFULLY . If you do not understand the effect of this lease, consult your attorney BEFORE signing . Landlord Date Tenant Date Landlord Date Tenant Date Or signed for Landlord under written property management agreement or power of attorney: Tenant Date By: Date Tenant Date Broker's Associate's Printed Name Broker's Printed Name License No. Firm Name

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dotloop signature verification: dtlp.us/7GdY - OfJD - 58Kz Page 1 of 1 (TXR - 2015) 05 - 15 - 24 "Momo" Mohamed 214 - 326 - 0856 2701 West Plano Parkway, suite 650 Plano, TX 75075 GO Real Estate Group __ _ ADDENDUM REGARDING RENTAL FLOOD DISCLOSURE NOTICE: For use with a Residential Lease, including a Temporary Residential Lease USE OF THIS FORM BY PERSONS WHO ARE NOT MEMBERS OF THE TEXAS ASSOCIATION OF REALTORS®, INC. IS NOT AUTHORIZED.©Texas Association of REALTORS®, Inc. 2024. ADDENDUM TO RESIDENTIAL LEASE CONCERNING THE PROPERTY AT 6724 Lake Overlook Drive, THIS ADDENDUM IS A DISCLOSURE OF LANDLORDS' KNOWLEDGE AS OF THE DATE SIGNED BY THE LANDLORD . IT IS NOT A WARRANTY OF ANY KIND NOR A PREDICTION OF FUTURE EVENTS BY LANDLORD, LANDLORD'S AGENTS, OR ANY OTHER AGENT . A. 100 - YEAR FLOODPLAIN. Landlord □ is or □ is no t aware that the dwelling yo u are renting is located in a 100 - year floodplain . If neither bo x is checked, yo u should assu me the dwelling is in a 100 - y e ar floodplain . Even if the dwelling is not in a 100 - year floodplain, the dwelling may still b e susceptible to flooding . Th e Federal Emergency M a n ag ement Agency (FEMA) maintains a flood m a p o n its Internet website that is searchable by address, at n o cost, to determine i f a dwelling is located in a flood h a zar d area . Most tenant insurance policies d o not cover da m ag e s or loss incurred in a flood . You should seek insurance coverage that would cover losses cause d b y a flood . B. DAMAGE TO A DWELLING DUE TO FLOODING DURING THE LAST FIVE - YEAR PERIOD. Landlord □ is or □ is not aware that the dwelling you are renting has flooded at least once within the last five years . \*For purposes of this notice : " 100 - year floodplain" means any area of land designated as a flood hazard area with a one percent or greater chance of flooding each year by the Federal Emergency Management Agency under the National Flood Insurance Act of 1968 (42 U . S . C . Section 4001 et seq .) . A landlord is not required to disclose on the notice that the landlord is aware that a dwelling is located in a 100 - year floodplain if the elevation of the dwelling is raised above the 100 - year floodplain flood levels in accordance with federal regulations . "Flooding" means a general or temporary condition of partial or complete inundation of a dwelling caused by : (A) the overflow of inland or tidal waters ; (B) the unusual and rapid accumulation of runoff or surface waters from any established water source such as a river, stream, or drainage ditch ; or (C) excessive rainfall . The undersigned Tenant acknowledges receipt of the foregoing notice . Landlord Date Tenant Date Landlord Date Tenant Date Tenant Date Tenant Date

## Ex1Sa-6

**Exhibit 6.10**

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| |
|:---|
| **Page 1 of 3** |
| **OFFICIAL RECORDS OF WAKE COUNTY** |
| **Tammy L. Brunner, Register of Deeds** |
| **09/09/2025 03:35 PM Fee: $904.00 Excise Tax: $878.00** |

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**NORTH CAROLINA SPECIAL WARRANTY DEED**

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| |
|:---|
| Excise Tax: $878.00 |
| <br> Real Estate ID: 0227540 Verified by __________ County on the _____ day of<u> </u>________________, 20___<u> </u> |

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By: <u>Jackson Law, PC 3605 Glenwood Avenue, Ste. 480, Raleigh, NC 27612</u>

Mail/Box to: Grantee

This instrument was prepared by: Jackson Law, PC 3605 Glenwood Avenue, Ste. 480, Raleigh, NC 27612 [/s/JJ]

Brief description for the Index: Lot 29, Ph 2, Wyngate

THIS DEED made this 8<sup>th</sup> day of September, 2025, by and between:

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| | |
|:---|:---|
| &nbsp;&nbsp;GRANTOR | &nbsp;&nbsp;GRANTEE |
| &nbsp;&nbsp;**Acre Home Operations LLC, a Delaware limited liability company** | &nbsp;&nbsp;**Wahed Financial LLC, a Delaware limited liability company** |
|  | &nbsp;&nbsp;Mailing address: |
| &nbsp;&nbsp;212 W. Main St., Ste. 200, PMB 203 | &nbsp;&nbsp;27 East 28<sup>th</sup> St., 8<sup>th</sup> Floor |
| &nbsp;&nbsp;Durham, NC 27701 | &nbsp;&nbsp;New York, NY 10016 |

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The designation Grantor and Grantee as used herein shall include said parties, their heirs, successors, and assigns, and shall include singular, plural, masculine, feminine or neuter as required by context.

WITNESSETH, that the Grantor, for valuable consideration paid by the Grantee, the receipt of which is hereby acknowledged, has and by these presents does grant, bargain, sell and convey unto the Grantee in fee simple, all that certain lot or parcel of land situated in the City of Raleigh, Wake County, North Carolina and more particularly described as follows:

**BEING all of Lot 29, Phase 2, Wyngate Subdivision, as shown on plat recorded in Book of Maps 1996, Page 1545-1546, Wake County Registry.**

**Property Address: 8820 Waynick Drive, Raleigh, NC 27617**

**REID: 0227540**

The property hereinabove described was acquired by Grantor by instrument recorded in Book 19994, Page 1786.

All or a portion of the property herein conveyed includes or _x_ does not include the primary residence of a Grantor.

A map showing the above-described property is recorded in Book of Maps 1996, Page(s) 1545-1546,

submitted electronically by "Jackson Law, P.C."<br> in compliance with North Carolina statutes governing recordable documents<br> and the terms of the submitter agreement with the wake county Register of Deeds.

**Page 2 of 3**

TO HAVE AND TO HOLD the aforesaid lot or parcel of land and all privileges and appurtenances thereto belonging to the Grantee in fee simple.

Granter covenants with the Grantee, that Grantor is seized of real property in fee simple, has done nothing to impair such title as Grantor received, and that Granter will warrant and defend the title against the lawful claims of all persons claiming by, under or through Grantor, except for the exceptions hereinafter stated. Title to the property hereinabove described is subject to the following exceptions:

1) The lien of ad valorem taxes for the current year and thereafter;

2) Easements of record affecting the property;

3) Restrictive covenants of record affecting the property

IN WITNESS WHEREOF, the Grantor has duly executed the foregoing as of the day and year first above written.

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*Signature page attached hereto*

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**Page 3 of 3**

Acre Home Operations LLC, a Delaware limited liability company

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| | |
|:---|:---|
| By: | /s/ Michael Schneider |
|  | Michael Schneider, Manager |

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STATE OF <u>NORTH CAROLINA</u>

COUNTY OF <u>DURHAM</u>

I, Peter J. Crawford, a Notary Public, certify that Michael Schneider, Manager of Acre Home Operations LLC personally came before me this day and acknowledgcd that he/she is Manager of Acre Home Operations LLC, a Limited Liability Company, and that he/she, as Manager, being authorized to do so, executed the foregoing on behalf of the Limited Liability Company.

Witness my hand and official seal this <u>8<sup>th</sup></u> day of September, 2025.

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| | |
|:---|:---|
| <br>/s/ Peter J. Crawford | ![](ex6-10_001.jpg) |
| Official Signature of Notarv | ![](ex6-10_001.jpg) |
| Printed or typed name of Notary <u>Peter J Crawford</u> | ![](ex6-10_001.jpg) |
|  | ![](ex6-10_001.jpg) |
| My Commission Expires: <u>21 July 2030</u> | ![](ex6-10_001.jpg) |

---

## Ex1Sa-6

**Exhibit 6.11**

<u>**PROPERTY MANAGEMENT MASTER SERVICES AGREEMENT**</u>

**THIS PROPERTY MANAGEMENT MASTER SERVICES AGREEMENT ("Services Agreement**"), dated as of August 25, 2025, is by and between Acre Home Operations, LLC, a Delaware limited liability company ("**Acre**"), and the undersigned individual or entity (the "**Owner**"). Each of foregoing is sometimes hereinafter referred to individually as a "**Party**," and collectively as the "**Parties**."

**RECITALS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. The Owner and/or one of its subsidiaries is the 100% fee interest owner of such real property, together with all buildings and other improvements and fixtures situated thereon, the real property shall be more particularly described on Exhibit "A" attached hereto and incorporated herein by reference ("**Real Property**"), which shall be updated from time to time upon purchase of the Real Property. Located on the Real Property is a single-family dwelling ("**Home**"). The Home and the Real Property are hereinafter called the "**Residence**."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. Owner intends that a third-party consumer (whether individually or collectively, "**Resident**") be granted the right to share in the home's appreciation and the option, from Owner, to purchase the Residence, with Resident living within the Home and occupying the Residence while the purchase option is in effect. Owner and Resident have entered into or will enter into a "**Value Share Agreement**" to specify the terms and provisions of Resident's right to share in the home's appreciation and option to purchase the Residence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. To help ensure that the Residence is professionally managed and serviced and complies with the Acre Program as well as the terms of the Value Share Agreement and the Home Residency Agreement (as defined below), Owner desires, pursuant to the terms and provisions of this Services Agreement, to retain Acre as the sole and exclusive property and servicing manager for the Residence, with Acre having responsibility as set forth herein for all matters involving the servicing, management, operation, use, and occupancy of the Residence, including promotional and solicitation efforts related to Resident solicitation, and tasks related to property sale in the event of Resident exercise of the purchase option or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E. Acre, pursuant to its services to Owner under this Services Agreement, has entered into or will enter into a "**Home Residency Agreement**" with Resident, with Acre being the "**Property Manager**" of the Residence thereunder. The Home Residency Agreement sets forth Acre's scope of servicing and management responsibility in regards to Resident, with all such servicing and management activities incorporated herein as part of the Management Services (as defined below) provided under this Services Agreement.

**NOW THEREFORE**, in consideration of the mutual covenants and conditions contained in this Services Agreement and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree that the foregoing recitals are true and correct and incorporated herein, and also agree as set forth below.

**AGREEMENT**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>APPOINTMENT OF ACRE</u>. The Owner appoints Acre as manager and servicer of the Residences with the responsibilities and upon the terms and conditions outlined in this Services Agreement, and Acre accepts such appointment as manager and servicer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>SCOPE OF RESPONSIBILITIES</u>. Acre shall perform its duties hereunder (including its duties under the Home Residency Agreement) and shall devote sufficient time and effort to the Residence to ensure that the Residence is managed, occupied, operated, maintained and serviced in a manner comparable to residential homes of similar type and location under the Acre Program ("**Services Standard**"). In addition to providing the services specifically set forth in Section 3 and elsewhere in this Services Agreement, Acre shall perform such other services as Owner may reasonably request in connection with the Residence, consistent with the Services Standard. In performing its duties hereunder, Acre shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) Comply with all applicable laws and rulings and orders of governmental authorities having jurisdiction;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) Deal at arm's length with all third parties; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) Act in a reasonable manner with respect to the proper protection of and accounting for Owner's assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>SPECIFIC MANAGEMENT AND SERVICING RESPONSIBILITIES</u>. Without limiting the generality of any other term or provision of this Services Agreement, Acre shall provide the services set forth in the following subsections in accordance with the Services Standard (collectively, the "**Management Services**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) <u>Maintenance and Repairs</u>. Perform all maintenance and make all repairs to the Home and other buildings, the grounds, and other improvements of the Residence, as determined by Acre in its sole discretion to be necessary to maintain the Residence in a manner consistent with the Services Standard and otherwise in accordance with the Acre Program and such other standards promulgated or approved by Owner, where, in each instance, (i) such maintenance and repairs are either not the responsibility of Resident under the Home Residency Agreement, (ii) Resident has requested that Acre, as Property Manager, perform such maintenance or repair, or (iii) Resident, in Acre's discretion, has not satisfactorily performed such maintenance or repair responsibility under the Home Residency Agreement. Acre will also perform the following as part of its maintenance and repair responsibilities:

● *Emergency Repairs*. Timely and professionally perform any and all emergency repairs or services, whether to major systems or improvements or otherwise, necessary for the preservation of the Residence and to avoid the suspension of any service to the Residence or to avoid inconvenience or harm. Acre may make or furnish emergency repairs or services without Owners prior approval if it determines it is not reasonably feasible to secure such prior approval. In any event, Acre shall give Owner written notice of the details and cost thereof after performing or furnishing any emergency repair or service.

● *Regular Reporting of Work*. Keep records and provide regular reporting to Owner, at least monthly or at such time intervals as Owner may request, of all work performed by Acre or by a third party at Acre's request, at the Residence, whether within the Home or to any other improvements or on the Residence exterior grounds.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) <u>Inspections</u>. Perform periodic routine, comprehensive on-site physical inspections of the Residence, including of the foundation, structure, and roof of the Home and of any other improvements located at the Residence, and of the air conditioning and heating system at the Home, as reasonably determined by Acre to be necessary to ensure proper and safe upkeep of the Residence. Acre shall also inspect the Residence when Resident vacates and surrenders the Residence, whether at the expiration of the purchase option term or otherwise, to ensure that Resident has complied with the termination and surrender provisions under the Home Residency Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) <u>Obligations Under Property Documents</u>. Perform and comply with all of the obligations, terms and conditions required to be performed or complied with by Acre, as Property Manager, under the Home Residency Agreement, , and under any other agreements relating to the ownership, financing, development, management, operation, maintenance and servicing of the Residence, including, without limitation, to the extent funds of Owner are available, the timely payment of all sums required to be paid thereunder, all to ensure that Owner's interest in the Residence and Owner's interest as the fee owner under the Value Share Agreement are preserved and no default of the owner shall occur under any such agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D) <u>Service Contracts</u>. Enter into, in Owner's name (unless Owner otherwise directs), agreements for the furnishing to the Residence of such utility, maintenance and other services and for the acquisition of such equipment and supplies as may be necessary for the routine management, operation, maintenance and servicing of the Residence in accordance with this Services Agreement. All service contracts shall contain a provision permitting Owner to terminate in the event Owner sells or transfers all or any portion of Owner's interest in the Residence, including, without limitation, sale to Resident pursuant to Resident's exercise of the purchase option.

● <u>Resident Relations; Resident Default</u>. Perform all of Acre's duties under the Home Residency Agreement so that such agreement remains in full force and effect, with no default by Acre or Owner, and enforce the performance of all obligations of Resident under the Home Residency Agreement. Acre shall maintain businesslike relations with Resident and receive requests, complaints, notices, and the like from Resident, and timely respond and act upon the foregoing in reasonable, professional fashion. To ensure the performance by Resident of all of Resident's responsibilities under the Home Residency Agreement, Acre shall, pursuant to the terms of the Home Residency Agreement, periodically inspect the Residence, and, if appropriate, shall request that Resident perform Resident's obligations under such agreement in the event Resident, in Acre's discretion, has failed to do so. Acre shall be responsible for addressing and taking corrective action with regard to any Resident default under the Home Residency Agreement, including notice and eviction procedures. Acre shall exercise its own professional judgement and consider the specific circumstances and any extenuating or mitigating factors when deciding how to address each instance and may vary from its standard procedures, if it reasonably determines it is in the best interest of the parties to do so.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(E) <u>Renewal or Extension of Term of Acre Program:</u> If under the terms of the Value Share Agreement and Residency Agreement, or as otherwise offered by Acre and Owner, the Resident elects to extend their Residency Agreement and Value Share Agreement in accordance with the term of such Agreements, Acre and Owner will take all actions necessary under such agreements to extend the term of such agreements. Acre may make any adjustment, as it determines, reasonable to the terms of such Residency Agreement, including adjustment of the monthly payment, to account for changes in the home value, taxes, and insurance, as reasonably determined by Acre and agreed upon by the Resident.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(F) <u>End of Resident Term</u>. Follow all procedures and timing protocols identified in the Value Share Agreement and in the Home Residency Agreement relating to notice periods for the purchase option term, home occupancy term renewal or termination, purchase option exercise, and any other timing and notice matters concerning Resident's occupancy and surrender of the Residence. Promptly upon Resident's election to renew the purchase option, terminate the purchase option or otherwise extend the Purchase Option Term, or exercise the purchase option, Acre shall report such status change to Owner and inform Owner of any pending Residence vacancy.

● *Exercise of Purchase Option*. Acre will take all action necessary under the Value Share Agreement or otherwise facilitate Resident's exercise of the purchase option and Resident's purchase of the Residence, including, without limitation, establishing the purchase option price, assessing any deferred maintenance credits and/or exit fees or credits, and calculating the Adjusted Value Share Payment (as defined in the Value Share Agreement) to be applied towards the purchase of the Residence.

● *Transfer to Another Acre Property*. In the event Resident elects, in conjunction with terminating the purchase option, to transfer to another home within the Acre Program, Acre will take all action necessary to facilitate Resident's transfer from the current Residence to such other home, including establishing the market value of the current Residence, assessing any deferred maintenance credits and/or exist fees or credits, and calculating the Adjusted Value Share Payment to be applied towards the Acre Program transfer property.

● *Departure from Acre Program*. In the event Resident elects, in conjunction with terminating the purchase option, to depart from the Acre Program, Acre will take all action necessary to facilitate Resident's exit from the program, including establishing the market value of the current Residence, assessing any deferred maintenance credits and/or exit fees or credits, and calculating any Adjusted Value Share Payment to be paid in cash to Resident within the required timeframe outlined in the Value Share Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(G) <u>Residence Vacancy</u>. Give Owner prompt written notice of any pending vacancy of the Residence, whether the vacancy will be the result of Resident transferring out of the Residence and moving to another home within the Acre Program, Resident electing to terminate the purchase option and depart from the Acre Program, or otherwise. Upon learning of the pending vacancy, the Owner may direct Acre to initiate re-contracting of the Residence to a new Acre resident (to "Re-Acre" the property), seek to rent out the property outside of the Acre Program (a "Traditional Rental"), or initiate efforts to sell the Residence. If Owner instructs Acre to Re-Acre the property, Acre will undertake reasonable efforts to offer the Residence under the Acre Program to a new resident, including preparing advertising plans and promotional materials. Acre will perform the current valuation of the Residence to establish the new monthly payments, and will perform any work required to prepare the Residence for the new occupancy (utilizing as appropriate any funds retained from the previous resident for improper maintenance). Acre will also perform an accounting of all work performed to prepare the Residence for the new occupancy, including the use of funds retained from the prior resident's Option Payment. If Owner instructs Acre to initiate sale efforts for the Residence, Acre will undertake all efforts necessary to prepare the Residence for listing and sale. Acre may contract with a third-party listing agent or agents to market the Residence. Acre will recommend to Owner appropriate improvements, repairs, and so on, to be made to the Residence prior to listing to achieve the highest market value, and will facilitate the completion of such recommendations as approved by Owner.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(H) <u>Collection and Handling of Money</u>. Acre will collect all payments due from Resident under the Value Share Agreement and the Home Residency Agreement, and any other sums payable by Resident to Owner with respect to the Residence. Owner authorizes Acre to request, demand, collect, and receive on behalf of Owner all payments due from Resident, including, without limitation, authorization to do the following:

● Collect the Value Share Payment from Resident following Resident's execution of the Value Share Agreement, confirm the correct balance thereof, and remit the Value Share Payment to Owner.

● Collect the Monthly Fee (as defined in the Home Residency Agreement) from Resident on the monthly due date as specified in the Home Residency Agreement.

● Within ten (10) business days after the end of each calendar month, disburse to Owner the Monthly Fee and any other monthly collections paid by Resident, (i) net of any Residence management and ownership expenses to be paid that calendar month, such as property taxes, HOA dues, maintenance expenses, and the Services Fee (as hereinafter defined), and (ii) minus any amount withheld, as reasonably determined by Acre, to be retained within the account to meet other anticipated expenses of the Residence.

All sums collected by Acre (including prior to being disbursed to Owner) shall be deposited in an FDIC-insured, interest-bearing account, established in Owner's name with Owner signatories. Unless otherwise approved in writing by Owner, or unless being directly disbursed to Owner, funds may only be withdrawn from Owner's account upon the signature of Owner.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(I) <u>Payment of Money</u>. Without the prior written consent of Owner and as further described below, Acre shall make all routine payments incurred by Owner as a result of Owner's ownership of the Residence, including, without limitation, taxes, HOA dues and other assessments, repair and maintenance costs, and equipment and supply costs, as well as payments made in accordance with this Services Agreement, and payments made under contracts existing prior to the date of this Services Agreement or approved or authorized pursuant to the terms of this Services Agreement. Acre shall retain receipts of all payments made and periodically provide an accounting of such payments to Owner. Acre's responsibilities with regard to payment of money as part of the Management Services hereunder include the following:

● *Payment of Real Estate Taxes*. Duly and punctually pay all real estate taxes payable with respect to the Residence and retain receipts of payments for record keeping. Acre shall inform Owner of any change in the amount of taxes relating to the Residence.

● *Payment of Dues and Assessments*. Duly and punctually pay all HOA dues and assessments payable with respect to the Residence and retain receipts of payments for record keeping. Acre shall inform Owner of any change in the amount of dues and assessments relating to the Residence.

● *Maintain Lien-Free Title*. Make reasonable efforts to to ensure that title to the Residence remains free and clear of any liens or encumbrances, including free and clear of any mechanics liens. Provided that, Acre shall, at its own discretion, have the right to record the Value Share Agreement or any other instrument necessary to effectuate the Acre Program.

Any authorized payments made by Acre on behalf of Owner shall be made out of such funds as Acre may from time to time hold for the account of Owner or as may be provided by Owner. Owner shall maintain in the bank account or accounts maintained by Acre pursuant to this Services Agreement an amount sufficient to enable Acre to perform its duties hereunder, and Acre shall notify Owner in advance of any foreseeable deficiency of the funds in such account(s). If Acre voluntarily advances for Owner's account any amount for the payment of any authorized expenses, Owner shall, upon written notice from Acre, promptly reimburse Acre therefore, without interest.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(J) <u>Service Standards</u>. Acre will staff and train personnel and contract with third-party vendors or personnel as it reasonably determines are necessary to perform its obligations under this Services Agreement, including, without limitation, to ensure that interaction with Resident is professional and timely, and that any maintenance, repairs, or improvements at the Residence are performed in a professional and workmanlike manner. Acre shall handle and timely respond to all inbound communications (whether phone call, email, written correspondence, or otherwise) from Resident or from other parties concerning the Residence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(K) <u>Other Services for Owner</u>. Perform all other services that are normally performed in connection with the Services Standard. Acre shall represent Owner as necessary in any legal proceedings in which Acre shall have actual knowledge of the facts alleged in any complaint. Provided that the Owner shall compensate Acre for any expenses occurred related to such an appearance, including but not limited to legal fees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(L) <u>Compliance with Laws</u>. Take such action as may be necessary to comply with all laws, rules and regulations and any and all orders or requirements of any governmental authority having jurisdiction affecting the Residence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(M) <u>Notices</u>. Promptly deliver to Owner all notices received from any mortgagee, governmental or official entity or any other party with respect to the Residence. Acre, in compliance with the terms and provisions of this Services Agreement, may sign and serve in the name of Owner any and all routine notices required in connection with the proper performance by Acre of the Management Services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(N) <u>Cooperation</u>. Give Owner all pertinent information and reasonable assistance in the defense or disposition of any claims, demands, suits or other legal proceedings which may be made or instituted by any third party against Owner which arise out of any matters relating to the Residence, this Services Agreement, or Acre's performance hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>ADDITIONAL SERVICES</u>. Acre may offer to provide other services, which are in addition to both the Management Services specified herein and the responsibilities of Acre identified in the Home Residency Agreement, directly to and for Resident and concerning Resident's use and occupancy of the Residence. Additional services that Acre may offer include, but are not limited to, the following:

● Routine maintenance and/or landscaping services for the Residence.

● Laundry service for Resident.

● Cleaning services for the Home.

● Utilities management for the Residence.

● Design consultation for the Home or Residence.

Acre will invoice Resident separately for additional services; the fee for additional services will not be collected as part of the Monthly Fee or as part of any other fees due and owing to Owner, and the fee for any additional services may not be deducted from the Monthly Fee or from any other fees due and owing to Owner. Any fees that Acre earns and collects by performing additional services for Resident belong solely to Acre.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>INSURANCE</u>.

Owner shall procure and maintain insurance on each Residence. Such insurance shall include but not be limited to insuring each Residence against damage to the property up to an amount equal to the full replacement cost of the Residence and for general liability up to an amount of $100,000 or more per incident. In each instance, the Owner shall cover the costs of such insurance and Acre shall be listed as an additionally insured party on any such insurance policy. If Owner does not procure such insurance, Acre may, at its own election, procure and maintain insurance on each Residence, in such instance Owner shall cover the costs of such insurance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>RECORDS AND REPORTS</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) <u>Records</u>. Acre will maintain a comprehensive system of office records, books and accounts, which will be the property of Owner, relating to the Residence. Owner and its representatives will have access to such records, books, and accounts and to all vouchers, files and all other materials pertaining to the Residence and this Services Agreement upon reasonable notice. Acre will cooperate with and give reasonable assistance to any accountant or other person designated by Owner to examine such records.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) <u>Financial Reports</u>. Acre will furnish reports of transactions occurring while this Services Agreement is in effect in a mutually agreeable format. These reports will be sent to Owner within ten (10) days after the end of the preceding month. In addition, Acre will prepare forms reasonably prescribed by Owner to facilitate the input of financial information into the fund's accounting system. Acre also agrees, at the request of Owner, to furnish such further accounting and other fiscal information as Owner may reasonably request. Provided that the Owner agrees to pay any costs associated with preparing such reports, including but not limited to allocated employee time, third-party contractors, and accountant expenses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D) <u>Annual Reports</u>. Within ninety (90) days following the end of each calendar year, Acre will deliver to Owner profit and loss statements showing all revenues, expenses and the results of operations for the immediately preceding year, and a balance sheet of the Residence as of the end of such year, all prepared on both a tax and an accrual basis in accordance with generally accepted accounting principles consistently applied and certified by a certified public accountant approved by Owner, provided that the Owner agrees to pay any costs associated with preparing such reports, including but not limited to allocated employee time and third-party contractors and accountants.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. <u>COMPENSATION FOR MANAGEMENT SERVICES</u>. Owner shall pay Acre as compensation for the Management Services that Acre performs pursuant to this Services Agreement an amount equal to 8% of the gross rent collected by Acre ("**Services Fee**"). Owner shall pay the Services Fee to Acre quarterly in advance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. <u>COMPENSATION FOR PROPERTY DISPOSITION.</u> Owner shall also pay Acre as compensation to facilitate the sale of a Residence of a one-time fee of 1% of the Resident Disposition Basis (the "Property Disposition Fee"). The "Residence Disposition Basis" will be defined as the fair market value of the property determined by the sale of the property either to the resident or to a third party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. <u>COSTS AND EXPENSES</u>. Owner shall reimburse Acre for all costs incurred by Acre associated with the management and servicing of the Residence, including, without limitation, cost of maintenance, repairs, insurance, legal fees, HOA fees, third-party contractor costs, materials cost, real estate agent commissions, fines, fees, adverse judgements, liability claims, and utility bills. Provided that Acre corporate costs, employee salaries, general overhead expense, and other costs not associated with the management and servicing of the Residence will be the sole responsibility of Acre unless otherwise indicated in this agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. <u>TERM AND TERMINATION</u>. The term of this Services Agreement commenced on the date hereof and shall continue until terminated pursuant to the provisions of Section 8(A), Section 8(B), or Section 8(C) below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) <u>Termination at End of Services</u>. This Services Agreement will remain in effect for as long as an Owner has ownership or interests in a Residence within the Acre Program or serviced by Acre in any other regards, including but not limited to servicing a property as a Traditional Rental. The Services Agreement will terminate, with regard to a particular Owner or Residence, upon conveyance to Resident by Owner of the Residence following Resident's exercise of the purchase option pursuant to the Value Share Agreement, or upon the sale of the Residence to a third party whereby the property is no longer in the Acre Program.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) <u>Termination for Cause</u>. Acre or Owner may only terminate this Services Agreement for Cause by (i) providing notice to the other party of a material breach of this agreement that will cause the notifying party or the Resident substantial harm, provided that the non-noticing party must be afforded a reasonable opportunity based on the circumstances (and in no case less than 30 business days) to cure such material breach, or (ii) upon providing notice to the other party upon knowledge that the other party has committed fraud, willful misconduct, or illegal conduct in all such cases with respect to the subject matter of this agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) <u>Termination without Cause</u>. In the event of (i) damage or destruction to the Residence, where Owner has elected not to rebuild or restore the Residence, or (ii) a taking by condemnation or similar proceeding, Owner may elect to terminate the Services Agreement pursuant to this Section 8(C).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D) <u>Termination for Fee</u>. At any point in the course of this contract the Owner may notify of the intent to remove one or all their Residences from the Services under this agreement by paying a termination fee. Such fee shall equal the greater of 10% of the Residence Acquisition Basis or the Residence Disposition Basis. Upon such termination Acre shall make reasonable efforts to accommodate the transition to a new property manager for the Residence if requested by the Owner. The "Residence Acquisition Basis" is defined as the purchase price paid by Owner for the Residence, plus the cost of any required deferred maintenance, remediation, and/or rehabilitation performed and paid for by Owner in conjunction with the purchase, plus the direct transaction costs paid by Owner in conjunction with the purchase.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. <u>SURVIVAL OF OBLIGATIONS TO RESIDENTS.</u> Upon termination of this agreement for any reason, the terms of the Value Share Agreement, the Residency Agreement, and any other agreement entered into between Acre and the Resident or the Owner and the Resident shall remain in full force and effect with regards to each Residence until properly terminated under the terms of those agreements. Any responsibilities of Acre or any Acre affiliates shall be transferred to and assumed by the Owner, or in the instance that the Owner has dissolved or transferred or sold their interests in the Residence, to the new owner of the property.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) <u>Owner's Obligations After Termination</u>. Owner agrees that upon the expiration or termination of this Services Agreement,
Owner shall do the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Make all possible efforts to honor all commitments to the Residents in the Home Residency agreement, Value Share agreement, or any
other agreements entered into by Acre or Owner with the Residents
are in place at the time of termination, and make all possible efforts to ensure that no financial harm or inconvenience occurs to the
Resident a result of such expiration or termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Pay to Acre all fees earned by Acre and reimburse all cost incurred by Acre in a timely manner, and in
no case longer than 10 days after receipt of an invoice for such fee or reimbursement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) <u>Acre's Obligations After Termination</u>. Upon the
expiration or termination of this Services Agreement, Acre shall do the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Deliver to Owner, or to such other person or persons designated by Owner, copies of all books and records
of the Residence and all funds in the possession of Acre belonging to Owner or received by Acre pursuant to the terms of this Services
Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Deliver to Owner any and all funds of Owner on hand or in any bank account, if not previously delivered
to Owner, less any unpaid fees or costs incurred due to Acre pursuant to this Services Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Deliver to Owner, as received, any funds due to Owner under this Services Agreement or under the Value
Share Agreement or under the Home Residency Agreement, but received after the termination of this Services Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. Assign, transfer or convey to such person or persons all service contracts relating to or used in the
operation and maintenance of the Residence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. <u>NO AGENCY RELATIONSHIP</u>. Acre is an independent contractor and, as such, is solely responsible for all of its employees, for the supervision of all persons, whether an Acre employee or any third- party contractor or otherwise, performing services in connection with the responsibilities of Acre under this Services Agreement or under the Home Residency Agreement, or in performing, pursuant to this Services Agreement or the Home Residency Agreement, any of Owner's obligations relating to the ownership, maintenance, servicing, or operation of the Residence, and for determining the manner and time of performance of all acts hereunder or under the Home Residency Agreement. Nothing herein contained in this Services Agreement or in any other agreement to which Acre and/or Owner are parties shall be construed to establish Acre as an agent of Owner, or to create a joint venture or partnership between Acre and Owner.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13. <u>INDEMNIFICATION</u>. Neither party shall not take any action that would violate or nullify or otherwise alter the terms of the Residency Agreement or Value Share Agreement without written permission from the other party. Each party (the "Indemnifying Party") shall indemnify and hold harmless the other party (the "Indemnified Party") against all costs and expenses, including, without limitation, reasonable attorneys' fees, incurred by the Indemnified Party and arising out of any fraud, gross negligence, deliberate misconduct, or substantial failure of the Indemnifying Party to perform any of its obligations under this Services Agreement or under the Value Share Agreement or Home Residency Agreement. The foregoing indemnification shall survive the termination of this Services Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14. <u>LIMITATION ON LIABILITY</u>. Acre agrees that its recourse against Owner under this Agreement will be strictly limited to Owner's interest in the Residence, and that Acre will have no recourse to any other asset of Owner, or of any partner, director, officer, employee, policyholder or any other representative of Owner for the satisfaction of any of Owner's obligations hereunder. Owner agrees that its recourse against Acre under this Agreement will be strictly limited to the fees collected by Acre under this agreement, and that Owner will have no recourse to any other asset of Acre, or any partner, director, officer, employee, policyholder or any other representative of Acre for the satisfaction of Acre's obligations hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15. <u>BINDING EFFECT; CHOICE OF LAW</u>. This Services Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and assigns. Notwithstanding the foregoing, this Services Agreement is a contract for the personal services of Acre, and Acre may assign this Services Agreement without Owner's prior written approval. The laws of the State in which the Residence is located shall govern this Services Agreement, without regard to such State's conflicts of law principles.

**IN THE INTEREST OF OBTAINING A SPEEDIER AND LESS COSTLY ADJUDICATION OF ANY DISPUTE, THE PARTIES HEREBY KNOWINGLY, INTENTIONALLY, AND IRREVOCABLY WAIVE THE RIGHT TO TRIAL BY JURY IN ANY LEGAL ACTION, PROCEEDING, CLAIM, OR COUNTERCLAIM BROUGHT BY EITHER OF THEM AGAINST THE OTHER ON ALL MATTERS ARISING OUT OF OR RELATED TO THIS SERVICES AGREEMENT.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16. <u>NO WAIVER</u>. The failure of Owner to seek redress for breach, or to insist upon the strict performance of any covenant, agreement, provision or condition of this Services Agreement, shall not constitute a waiver thereof, and each party shall have all remedies provided herein and by applicable law with respect to any subsequent act which would have originally constituted a breach.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17. <u>FURTHER ASSURANCES</u>. From and after the date hereof, the Parties each respectively agree to do such things, perform such acts, and make, execute, acknowledge, and deliver such documents as may be reasonably necessary and customary to complete the transactions contemplated by this Services Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18. <u>FORCE MAJEURE</u>. A force majeure event occurs if Acre or Owner cannot perform any of its obligations due to events beyond such party's control, and in such cases the time provided for performing the applicable obligations will be extended by a period of time equal to the duration of the force majeure events. Events beyond a party's control include, but are not limited to, acts of God, war, civil commotion, terrorist acts, labor disputes, strikes, fire, flood or other casualty, shortages of labor or material, government regulation or restriction, waiting periods for obtaining governmental permits or approvals or inspections, or weather conditions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19. <u>NOTICE ADDRESSES</u>.

Notice address for Acre: Acre Home Operations, LLC 212 W. Main St. Suite 200, PMB 203 Durham, NC 27110 Attention: Andrew Toby Email: investors@acrehomes.com

Notice address for Owner is in signature blocks below.

All notices or communications given or required to be given by any party to another party hereunder may be sent electronically, unless applicable law requires physical delivery, in which case any such notice will be sent both electronically and in writing, with such writing to be sent by United States certified or registered mail, postage prepaid, return receipt requested, nationally recognized commercial overnight courier, or delivered personally to the addresses set forth above. Each party will have the right from time to time to change the place notice is to be given under this Services Agreement by written notice thereof to the other party or parties hereto. Any notice will be deemed given three (3) business days after the date it is mailed as provided in this Section 16, or upon the date delivery is made, if delivered by an approved courier (as provided above) or personally delivered, with the exception of any payment, all of which payments will be deemed given only upon the physical receipt thereof by Owner.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20. <u>ATTORNEYS' FEES</u>. To the extent permitted under applicable law, in the event any dispute arises between Acre, on the one hand, and Owner, on the other hand, concerning this Services Agreement that results in litigation, the losing party shall pay the prevailing party's actual, reasonable attorneys' fees and court costs, which shall be determined by the court and made a part of any judgment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21. <u>SEVERABILITY</u>. If any provision of this Services Agreement or the application of this Services Agreement shall, for any reason and to any extent, be invalid or unenforceable, neither the remainder of this Services Agreement nor the application of the provision to other persons, entities or circumstances shall be affected thereby, but instead shall be enforced to the maximum extent permitted by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22. <u>TIME IS OF THE ESSENCE</u>. Time is of the essence of each and every provision of this Services Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23. <u>MODIFICATION</u>. This Services Agreement shall not be modified, changed, altered or amended in any way except through a written amendment signed by the Parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24. <u>COUNTERPARTS</u>. This Services Agreement may be executed in two or more original or electronic counterparts, each of which shall be deemed an original and all of which together shall constitute but one and the same instrument.

[*Signature page follows*]

The parties have executed this Services Agreement as of the date first written above.

---

| | | | |
|:---|:---|:---|:---|
| **Acre:** | **Acre:** | **Owner:** | **Owner:** |
| Acre Home Operations, LLC, | Acre Home Operations, LLC, | Wahed Financial LLC | Wahed Financial LLC |
| a Delaware limited liability company | a Delaware limited liability company | a Delaware limited liability company | a Delaware limited liability company |
| By: | /s/ Michel Schneider | By: | /s/ Ahmar Shaikh. |
| Name: | Michel Schneider | Name: | Ahmar Shaikh |
| Its: | Manager | Its: |  |

---

---

| |
|:---|
| Notice Address for Owner: |
| 27E, 28<sup>th</sup> Street |
| 8<sup>th</sup> Floor |
| New York, NY 10016 |
| Attention: |
| Phone: +1-437-778-0564 |
| Email: ahmar.shaikh@wahed.com |

---

**EXHIBIT "A"**

**REAL PROPERTY DESCRIPTION**

(attached)

The Real Property has the following street address: 8820 Waynick Drive, Raleigh, NC 27617.

The Home on the Real Property is approximately 1,692 square feet of living space, and contains 3 bedrooms and 2.5 bathrooms.

## Ex1Sa-6

**Exhibit 6.12**

**PROPERTY SPECIFIC AGREEMENT**

Welcome to Acre! This document is an overview of the property specific terms regarding your participation in the Acre Program. All terms used herein are defined in the **Value Share Agreement** and **Home Residency Agreement** (the "Agreements"), which are incorporated by reference.

For Acre to make an offer to purchase this home you must sign and agree to the terms below that provide the basics of the agreement with regard to this specific property, including the length of your term as well as any payments owed. **<u>THIS IS A BINDING LEGAL DOCUMENT. THE TERMINATION FEES LISTED BELOW ARE EFFECTIVE UPON ACRE'S ACCEPTED OFFER TO PURCHASE THE PROPERTY.</u>**

You must also sign the **Value Share Agreement** and **Home Residency Agreement**, which explain the details of the Acre Program. Together, with this Property Specific Agreement, these documents are binding legal contracts that provide you the right to occupy the Residence as well as the option to exercise your right to purchase the Residence from Acre at the end of your term. Additionally, these documents describe the rights and obligations you have as an Acre Resident as well as your right to use and occupy the Residence during the Term.

By executing this document, I acknowledge that I have had read and understand the terms and conditions of the **Value Share Agreement** and **Home Residency Agreement** of which I have previously executed or am executing concurrently herewith.

![](ex6-12_001.jpg)

ACR-052871

**PROPERTY SPECIFC AGREEMENT - BASIC AGREEMENT PROVISIONS**

---

| | | |
|:---|:---|:---|
| **<u>TERM</u>** | **<u>DEFINITION OR DESCRIPTION</u>** | **<u>DEFINITION OR DESCRIPTION</u>** |
|  | [INTENTIONALLY OMITTED] | [INTENTIONALLY OMITTED] |
| &nbsp;&nbsp;1. **Resident:** | &nbsp;&nbsp;(whether individually or collectively) | &nbsp;&nbsp;(whether individually or collectively) |
| &nbsp;&nbsp;2. **Real Property:** | &nbsp;&nbsp;The real property having a street address of <u>_ 8820 Waynick Dr, Raleigh, 27617</u> , together with all buildings and other improvements and fixtures situated thereon as of the date hereof, with such real property being more particularly described on Exhibit "A" attached to this Property Specific Agreement and incorporated herein by reference. | &nbsp;&nbsp;The real property having a street address of <u>_ 8820 Waynick Dr, Raleigh, 27617</u> , together with all buildings and other improvements and fixtures situated thereon as of the date hereof, with such real property being more particularly described on Exhibit "A" attached to this Property Specific Agreement and incorporated herein by reference. |
| &nbsp;&nbsp;3. **Home:** | &nbsp;&nbsp;The approximately <u>1,692</u> square foot, single family dwelling containing <u>3</u> bedrooms and <u>3</u> bathrooms located on the Real Property. | &nbsp;&nbsp;The approximately <u>1,692</u> square foot, single family dwelling containing <u>3</u> bedrooms and <u>3</u> bathrooms located on the Real Property. |
| &nbsp;&nbsp;4. **State:** | &nbsp;&nbsp;"**State**" means the state of <u>North Carolina</u>, where the Real Property is located. | &nbsp;&nbsp;"**State**" means the state of <u>North Carolina</u>, where the Real Property is located. |
| &nbsp;&nbsp;5. **Initial Home Value:** | &nbsp;&nbsp;$435000 | &nbsp;&nbsp;$435000 |
| &nbsp;&nbsp;6. **Value Share Payment:** | &nbsp;&nbsp; $<u>21,750</u> (USD); the Value Share Payment is an option payment (the "option Payment") and represents the following percentage of the Initial Home Value (see Section 1(A) of Value Share Agreement):<br> <u>5%</u> | &nbsp;&nbsp; $<u>21,750</u> (USD); the Value Share Payment is an option payment (the "option Payment") and represents the following percentage of the Initial Home Value (see Section 1(A) of Value Share Agreement):<br> <u>5%</u> |
| &nbsp;&nbsp;7. **Value Share Appreciation:** | &nbsp;&nbsp;50% of the increase between the Initial Home Value and the End of Term Market Value. | &nbsp;&nbsp;50% of the increase between the Initial Home Value and the End of Term Market Value. |
| &nbsp;&nbsp;7a. **Value Share Depreciation:** | &nbsp;&nbsp;5% of the decrease between the Initial Home Value and the End of Term Market Value. | &nbsp;&nbsp;5% of the decrease between the Initial Home Value and the End of Term Market Value. |
| &nbsp;&nbsp;8. **Monthly Fee as of Commencement Date:** | &nbsp;&nbsp;**Monthly Fee**: $3,425 | &nbsp;&nbsp;**Monthly Fee**: $3,425 |
| &nbsp;&nbsp;9. **Commencement Date:** | &nbsp;&nbsp;August 27<sup>th</sup>, 2025 | &nbsp;&nbsp;August 27<sup>th</sup>, 2025 |
| &nbsp;&nbsp;10. **Length of Term:** | &nbsp;&nbsp;3 years | &nbsp;&nbsp;3 years |
| &nbsp;&nbsp;11. **Termination Fees:** | &nbsp;&nbsp;&nbsp;&nbsp; *The following identifies the percentage amount of the End of Term Market Value which will be retained by Acre as*<br> *consideration for Resident's termination of the Option Agreement* | &nbsp;&nbsp;&nbsp;&nbsp; *The following identifies the percentage amount of the End of Term Market Value which will be retained by Acre as*<br> *consideration for Resident's termination of the Option Agreement* |
| &nbsp;&nbsp;11. **Termination Fees:** | **Original Term Year in Which <br> Termination Notice is Delivered** | **Termination<br> Fee** |
| &nbsp;&nbsp;11. **Termination Fees:** | &nbsp;&nbsp;**1** | &nbsp;&nbsp;**4.0%** |
| &nbsp;&nbsp;11. **Termination Fees:** | &nbsp;&nbsp;**2** | &nbsp;&nbsp;**3.0%** |
| &nbsp;&nbsp;11. **Termination Fees:** | &nbsp;&nbsp;**3** | &nbsp;&nbsp;**2.0%** |
| &nbsp;&nbsp;11. **Termination Fees:** | &nbsp;&nbsp;**After Year 3** | &nbsp;&nbsp;**0.0%** |

---

**<u>SIGNATURE PAGE FOLLOWS</u>**

![](ex6-12_001.jpg)

ACR-052871

---

| | | | |
|:---|:---|:---|:---|
| **ACRE:** | **ACRE:** | **RESIDENT:** | **RESIDENT:** |
| Acre Home Ownership Holdings LLC, a Delaware limited liability company | Acre Home Ownership Holdings LLC, a Delaware limited liability company | [INTENTIONALLY OMITTED] | [INTENTIONALLY OMITTED] |
|  |  | Name: | [INTENTIONALLY OMITTED] |
| By: Acre Home Ownership Fund LP, it's managing member | By: Acre Home Ownership Fund LP, it's managing member | Date: | 08/22/2025 |
| By: Acre Home Investments LLC, it's manager | By: Acre Home Investments LLC, it's manager | [INTENTIONALLY OMITTED] | [INTENTIONALLY OMITTED] |
| By: | /s/ Michael Schneider | Name: | [INTENTIONALLY OMITTED] |
| Name: | Michael Schneider | Date: | 08/22/2025 |
| Its: | Manager |  |  |
| **PROPERTY MANAGER:** | **PROPERTY MANAGER:** |  |  |
| ACRE HOME OPERATIONS LLC, | ACRE HOME OPERATIONS LLC, |  |  |
| a Delaware limited liability company | a Delaware limited liability company |  |  |
| By: | /s/ Michael Schneider |  |  |
| Name: | Michael Schneider |  |  |
| Its: | Manager |  |  |
| Date | 08/22/2025 |  |  |

---

![](ex6-12_001.jpg)

ACR-052871

**EXHIBIT "A"**

**REAL PROPERTY DESCRIPTION**

**Street Address:** 8820 Waynick Drive

**City:** Raleigh

**Zip:** 27617

**County:** Wake

**The land is described as follows:**

**Being all of Lot 29, Phase Two, Wyngate subdivision, as depicted in Map Book 1996, page 1545-1546, Wake County Registry**

The PIN or other identification number of the Property is: **1609070945**

The Real Estate ID is: **0227540**

Other description: **LO29 WYNGATE SUB PH2 BM1996-1546**

![](ex6-12_001.jpg)

ACR-052871

**ANNEX "A"**

**EXTENSION TERM MONTHLY FEE**

---

| | |
|:---|:---|
| **Extension Term** | **Monthly Fee at Commencement of<br> Extension Term** |
| &nbsp;&nbsp;First Extension:<u> </u>to<u> </u> | &nbsp;&nbsp;$<u> </u> |
| &nbsp;&nbsp;Second Extension:<u> </u>to<u> </u> | |

---

![](ex6-12_001.jpg)

ACR-

**<u>HOME RESIDENCY AGREEMENT</u>**

**THIS HOME RESIDENCY AGREEMENT** ("**Agreement**"), dated as of , is by and between ("Resident") and ACRE HOME OPERATIONS LLC, a Delaware limited liability company ("**Property Manager**"). Each of Resident and Property Manager is sometimes hereinafter referred to individually as a "**Party**," and collectively as the "**Parties**."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>RESIDENCE OCCUPANCY AND TERM</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) **Residence; Term**. Pursuant to the terms and conditions of this Agreement and of the other Residency Agreements (as defined below in Section 4(C) of this Agreement), Resident may occupy the Real Property, and reside within the Home (the Home and the Real Property are hereinafter called the "**Residence**"). Resident may commence occupying the Residence and residing in the Home on the Commencement Date (as defined below), and pursuant to the terms and conditions of this Agreement and of the other Residency Agreements, Resident may continue to occupy the Residence and reside in the Home until that certain calendar date that is three (3) years after the Commencement Date ("**Termination Date**"), unless this Agreement is sooner terminated pursuant to the provisions hereof. "**Commencement Date**" is defined in the Value Share Agreement that Resident and Acre Home Ownership Holdings LLC, a Delaware limited liability company ("**Acre**"), are entering into concurrent with the execution of this Agreement, and which Value Share Agreement establishes, pursuant to the terms and provisions thereof, the grant from Acre to Resident of the right and option to purchase the Residence ("**Value Share Agreement**"). The period of time from the Commencement Date until the Termination Date is hereinafter called the "**Term**." All conditions precedent to the Commencement Date under the Value Share Agreement must, in Acre's discretion, have been satisfied in order to trigger the Commencement Date under both this Agreement and under the Value Share Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) **Renewal Option**. As provided in the Value Share Agreement, Resident may, request to extend the Term for an additional period of one (1) year. An extension of the Value Share Agreement automatically extends this Agreement. Following any extension of the Term pursuant to this Section 1(C), Property Manager will update the Property Specific Agreement by specifying in Annex "A" attached thereto the Monthly Fee applicable to the start date of the current Term extension, and Property Manager shall deliver to Resident a copy of the updated Annex "A."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D) **Quiet Enjoyment**. Resident, upon payment of all sums identified under this Agreement as being payable by Resident, and upon Resident's performance of all of Resident's agreements contained under this Agreement as well as under the other Residency Agreements, and upon Resident's observance of all Applicable Regulations (as defined below), shall and may peacefully and quietly have, hold, and enjoy the Residence for the Term of this Agreement.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(E) **Fair Housing**. The Acre Entities adhere to the federal Fair Housing Act, which stipulates that it is illegal to discriminate against any person in housing practices because of race, color, religion, sex, national origin, disability, or familial status.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(F) **Inability to Deliver**. If Resident is unable to occupy the Residence on the Commencement Date as the result of: (i) the Residence not being ready for occupancy, (ii) the holding over of any previous occupant, or (iii) any cause beyond the control of the Acre Entities, or any of them, and the Acre Entities, or any of them, have exercised diligence pursuant to applicable law so that Resident may take possession of the Residence, then no Acre Entity shall be liable to Resident for damages. Any such delay will not extend the Termination Date. Property Manager will determine, in its discretion, when the Residence is ready for occupancy. The Property Manager will not deem the Residence unavailable for occupancy as a result of any outstanding decorations, installments, or punch-list type items and adjustments or as a result of any work of a similar type to be performed in or about the Residence that Resident has requested.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>CONDITION; FURNISHINGS AND FIXTURES.</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) **Inspection and Checklist**. On or prior to the Commencement Date, Resident and Property Manager, or a representative of Property Manager, will inspect the physical condition of the Residence as well as of the appliances, fixtures, and any other personal property located within the Home or about the Residence as of the Residence inspection date ("**Inspection Date**"), and will then execute an occupancy condition checklist, which checklist will be either substantially in the form attached to this Agreement at Exhibit "A" or in the form as may be provided by Property Manager (the "**Residence Occupancy Checklist**"). This inspection may be conducted by the parties through video inspection or by other virtual means. The Residence Occupancy Checklist will identify the physical condition of the Residence as well as the Furnishings and Fixtures as defined below located within the Home or about the Residence as of the Inspection Date. Resident may use the Residence Occupancy Checklist to alert Property Manager of any maintenance issues, as of the Inspection Date, with regard to the Residence. The absence of the identification by Resident of any maintenance issues or other problems within or about the Residence on the Residence Occupancy Checklist, or Resident's failure to timely complete, execute, and deliver the Residence Occupancy Checklist to Property Manager as required pursuant to this Section 2(A), will serve as an acknowledgment and agreement by Resident that the Residence is acceptable and in habitable condition as of the Inspection Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) **Use of Furnishings and Fixtures**. Resident's occupancy of the Residence will include the use, pursuant to the terms and conditions of this Agreement, of the appliances, fixtures, furnishings, improvements, and any other movable items located within the Home or about the Residence as of the Inspection Date (collectively, the "**Furnishings and Fixtures**"). Together with the use of the Furnishings and Fixtures, Resident will be responsible, as discussed in this Agreement, for the care, maintenance, and repair of the Furnishings and Fixtures. Property Manager may replace any item of Furnishings and Fixtures during the Term with an item that, in Property Manager's discretion, will provide a comparable function as the Furnishings and Fixtures item being replaced and is of a comparable value.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) **Utilities**. Resident will be responsible for arranging for and paying for all utility services required at the Residence, including, without limitation, electrical, natural gas, propane, water, trash removal, sewer, cable, phone, alarm systems, and pest control, using utility service providers chosen by or acceptable to Property Manager, and Resident will be responsible, at Resident's cost, for paying any transfer or set-up fees associated with such utilities or services. Resident acknowledges and agrees that neither Property Manager nor Acre will be liable for any failure to furnish, stoppage of, or interruption in furnishing any of the utilities provided to the Residence when such failure is caused by accident, breakage, repairs, strikes, lockouts, labor disputes, labor disturbances, governmental regulation, civil disturbances, terrorist acts, acts of war, moratorium or other governmental action, or any other cause beyond any such party's reasonable control. Resident, as any responsible and concerned home occupant, will use all utilities and services only for normal, household purposes. Resident agrees to pay all charges for all utilities and services used at the Residence on or prior to the date specified in the bill or invoice for such utility or service. Resident will be in default under this Agreement if Resident fails to timely make any such payment and, as a result of such payment failure, the applicable utility or service is no longer provided to the Residence.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>USE OF RESIDENCE</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) **Use as Single-Family Dwelling**. The Residence may be used and occupied only as a private, single-family dwelling, and not for any business, subletting or rental, or for any other commercial use, although Resident may maintain a home office that is ancillary to an off-property business office or for telecommuting purposes. Resident may use the Residence for any use permitted by applicable laws, ordinances, and regulations of any governmental authority or quasi-governmental authority with jurisdiction over the Residence, so long as such lawful use is consistent with use as a private, single-family dwelling, is not otherwise prohibited under this Agreement, and is not of a type that may result in any diminution in the Residence's market value. Resident will comply with any and all laws, ordinances, rules, regulations, requirements, and orders of any and all governmental or quasi-governmental authorities, including of any homeowners association, or similar entity or authority, environmental regulations or matters, including the occupancy within or about the Residence of any pets or animals of any kind, and as may be provided time to time by Property Manager or by Acre, with regard to the use, occupancy, cleanliness, maintenance, preservation, and surrender of the Residence (collectively, "**Applicable Regulations**"). Resident will park and operate Resident's vehicles and will ensure that the vehicles of guests and of other invitees of Resident, are parked and used only in compliance with all Applicable Regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) **Prohibitions on Use**. Resident will not use or allow the Home or Residence to be used for any unlawful purpose or for any use prohibited by Applicable Regulations, or for any purpose that Property Manager, Acre, or any Property Manager's or Acre's insurance company, may deem hazardous or unsound, whether because of fire or any other risk. Resident will not keep in or around the Home or Residence, or permit to be kept in or around the Home or Residence, any item of a dangerous, flammable, or explosive character that might increase the danger of fire or explosion or that might be considered hazardous by any governmental agency or quasi-governmental agency or by any insurance company. Resident will not keep any water furniture (i.e., waterbeds) in the Home or Residence. Resident will not permit any act or thing which may be a nuisance (as such term may be defined by Applicable Regulations or by other applicable law), annoyance, or inconvenience to Property Manager, Acre, or to occupants of neighboring properties, but will, at all times, act in a manner to preserve the quality of the Residence and its market value.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) **Insurance**. Property Manager or Acre, in such parties' discretion, may obtain and carry insurance with coverage and policy limits insuring the Residence ("**Insurance**"). Resident will cooperate with the Acre Entities' insurers in the adjustment of any insurance claim pertaining to the Residence. **<u>Such Insurance will not cover Resident's property, furnishings, or other personal items at the Residence.</u>** *Property Manager and Acre recommend that Resident (1) carry Resident's own insurance, such as renter's liability insurance, on Resident's property, furnishings, and other personal items at the Residence, and (2) consult with Resident's own insurance agent with respect to appropriate or desirable insurance coverage and amounts*. Any such insurance carried by Resident should be (i) written by an insurance company that is licensed to write insurance in the State where the Residence is located; (ii) name Property Manager and Acre as additional insureds; (iii) provide that it cannot be canceled, amended, or non-renewed without at least thirty (30) days' prior written notice to Property Manager and Acre; (iv) provide a waiver of subrogation with respect to Property Manager and Acre; and (v) be primary to any Insurance carried by Property Manager or Acre. Resident will promptly provide written notice to both Property Manager and Acre that Resident has obtained any insurance under this Section 3(C), and in the event of any claim under such insurance which relates to the Residence or any portion thereof, Resident will promptly provide written notice to Property Manager and Acre of such claim. Property Manager may obtain renter's liability insurance on Resident's behalf if, in Property Manager's reasonable discretion, it is advisable to obtain such insurance, with Property Manager providing Resident at least fifteen (15) days' prior written notice that Property Manager has obtained such insurance on Resident's behalf. Resident will reimburse Property Manager within fifteen (15) days after receipt of an invoice for all costs associated with obtaining any renter's liability insurance that Property Manager has obtained pursuant to this Section 3(C).

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>MAINTENANCE AND REPAIR</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) **Overview of Resident Maintenance Obligations; Standard Responsibilities**. Resident, in consideration of Resident's occupancy of the Home and Residence for the Monthly Fee and as part of the Acre Program, will, throughout the Term, diligently and responsibly perform, at Resident's own expense, and pursuant to the terms of this Agreement and of the Acre Program, standard, overall routine maintenance of the Home and Residence ("**Standard Responsibilities**"). Resident's Standard Responsibilities include keeping the Residence, both the Home interior and exterior, and including all Furnishings and Fixtures in the Home or located about the Residence, in good order, condition, and repair at all times during the Term, so that Resident will surrender the same, upon termination of the Term or upon any earlier termination of this Agreement, in as good or better condition than when received by Resident, normal wear and tear excepted. Resident acknowledges and agrees that "normal wear and tear" do not include damage or deterioration that could have been prevented by good and routine maintenance practice, as required of Resident pursuant to Resident's Standard Responsibilities under this Agreement and under the Acre Program. Further, pursuant to Resident's Standard Responsibilities, Resident, at Resident's own expense, as would be typical of any reasonable, concerned home occupant, is responsible for all day-to-day maintenance, repair, and upkeep of the Home and Residence, including the Residence's grounds and landscaping, and Furnishings and Fixtures. Resident will use all Furnishings and Fixtures and any other improvements, fixtures, and furnishings in the Home or about the Residence in a safe manner and in compliance with all Applicable Regulations and only for the purposes for which such items are intended. To assist Resident in performing Resident's Standard Responsibilities as required under this Agreement, Property Manager may provide Resident with the names of approved contractors, such as yard maintenance or swimming pool maintenance service providers, with whom Resident may independently arrange to assist Resident in performing certain of Resident's Standard Responsibilities. Resident acknowledges and agrees that, whether or not Resident uses any third-party contractors to assist with maintenance, and whether or not Property Manager or any Acre Entity may, in such party's discretion, undertake to perform any of Resident's Standard Responsibilities, Resident remains solely responsible for all of Resident's Standard Responsibilities under this Agreement. Resident acknowledges and agrees that Resident's Standard Responsibilities are intended to help preserve the overall market value of the Residence, which market value may be reflected in appreciation of the Resident's Initial Home Value (as defined in the Value Share Agreement).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) **Summary of Certain Standard Responsibilities**. As specified in Section 4(A) above, Resident, at Resident's own expense, is responsible throughout the Term for Resident's Standard Responsibilities, which consist of all day-to-day maintenance at the Home and Residence, including the following maintenance obligations, which are provided here to be illustrative, and not in limitation of, the Standard Responsibilities:

● Irrigate and maintain the Residence grounds, including lawns and shrubbery, and keep the same clear of rubbish or weeds;

● Maintain in good condition all water improvements and water features at the Residence, including, without limitation, any swimming pool or hot tub;

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● Keep all lavatories, sinks, toilets, and all other water and plumbing apparatus in good order and repair and use the same only for the purposes for which they were constructed. Any damage to any such apparatus and the cost of clearing stopped plumbing resulting from misuse will be borne by Resident;

● Repair or replace all damaged, broken, or worn Furnishings and Fixtures, including maintaining all light fixtures and electrical wiring in good condition and repair, including replacing light bulbs as needed;

● Keep all windows, glass, window coverings, doors, locks, and hardware in good, clean order and repair, and repair or replace any of the same that may be damaged or broken;

● Keep all air conditioning and/or heating system filters clean and free from dirt, and perform regular (no less than annual), periodic maintenance and system tune-ups;

● Deposit all trash, garbage, rubbish, or refuse in the locations provided therefor and do not allow any trash, garbage, rubbish, or refuse to be deposited or permitted to stand around the exterior of the Residence;

● Repair any damage to the Home or Residence or to any Furnishings and Fixtures that may be caused by Resident, by any guest or invitee of Resident, or by any pet or any other animal allowed in or around the Home or Residence by Resident or by any guest or other invitee of Resident, so that such repaired item is of equal or better value to such item as of the date of this Agreement, normal wear and tear excepted;

● Perform routine, standard pest control, including, without limitation and as necessary, for termites, at such periodic intervals as is prudent (but no less than at least annually) for home maintenance in the geographic area where the Residence is located, with Resident immediately notifying Property Manager and Acre in the event structural damage to the Home or any other improvement on the Real Property is discovered in connection with Resident's pest control;

● Notify Property Manager immediately of any malfunction or damage caused by fire, water, or similar cause, or of any defect or problem pertaining to water leaks or plumbing, or electrical problems or wiring at the Home or Residence;

● Notify Property Manager promptly of any heating or cooling problems, broken locks or latches, or other condition that may pose a hazard to health, property, or safety;

● Notify Property Manager immediately of, and immediately provide Property Manager with, any replacement key(s) or door opener(s) for the Home or Residence; and

● Adhere to, at all times, all Applicable Regulations.

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If, due to Resident's negligence or Resident's failure to report to Property Manager a problem or malfunction at the Home or Residence or with regard to any Furnishings and Fixtures, and the Home or Residence or Furnishing and Fixture is damaged in any manner or to any extent, Resident shall be liable for the damages.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) **Property Management Agreement; Property Manager Services**. Acre and Property Manager have, or concurrent with this Agreement, will enter into a Property Management Agreement with respect to the Residence ("**Property Management Agreement**," and together with the Value Share Agreement and this Agreement, the "**Residency Agreements**"), which establishes the Property Manager Services (as defined in the Property Management Agreement) that Property Manager may perform, on behalf of Resident and Acre, or on behalf of either such party, for certain maintenance and servicing for the Residence. Neither (i) the removal, withdrawal, termination, or resignation of Property Manager as the property manager under the Property Management Agreement; (ii) any assignment for the benefit of creditors by or the adjudication of bankruptcy or incompetency of Property Manager; nor (iii) the termination of the Property Management Agreement, shall cause the termination of this Agreement and this Agreement shall remain in full force and effect notwithstanding any such events.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D) **Property Manager Option to Perform Maintenance**. At Property Manager's option, including, if Resident has so requested that Property Manager undertake any maintenance obligation otherwise required of Resident under this Agreement, or if, in Property Manager's judgment, Resident fails to maintain the Residence and Furnishings and Fixtures pursuant to the maintenance obligation standard specified in this Agreement, then Property Manager may, but need not, undertake to perform such maintenance, repairs, and replacements otherwise required of Resident under this Agreement, and Resident shall pay to Property Manager, upon Property Manager's written notice to Resident thereof, the agreed upon costs for Property Manager to perform such maintenance, repairs, or replacements. If Property Manager has undertaken to perform any of Resident's maintenance obligations under this Agreement in which, in Property Manager's judgment, Resident has failed to perform such maintenance obligations, then Resident shall also pay to Property Manager an additional fifteen percent (15%) of the actual cost incurred by Property Manager to compensate Property Manager for its overhead arising from its involvement with the maintenance, repairs, or replacements. Acre or Property Manager may enter the Residence at all reasonable times and upon reasonable prior notice to Resident (except in the case of emergency, when no prior notice will be required) to perform, either to the Residence or to any Furnishings and Fixtures, the maintenance, repairs, or replacements as described in this Section 4(D).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(E) **Acre Maintenance Obligations**. Acre or Property Manager will, at such parties' own expense and except as specified otherwise in this Agreement, maintain in good order, condition, and repair, normal wear and tear excepted, the structural portions of the Residence, such as the foundation, roof, below-grade plumbing, main water line, and electrical panel. In addition, Acre or Property Manager will, as such parties deem reasonably necessary in their discretion, perform Capital Improvements to the Residence. "**Capital Improvements**" are permanent structural changes and replacement of critical systems that, in the discretion of Acre or Property Manager, enhance the Residence's overall value or prolong its useful life. Examples of Capital Improvements include, by way of illustration only, replacing the Residence's roof, driveway paving, HVAC system, or water heater, in each case when the typical useful life of such item has expired due to normal wear and tear. Property Manager will give Resident prior notice (except in the case of emergency when no prior notice will be required) of commencement of any Capital Improvements. Acre and Property Manager will use reasonable efforts to perform such Capital Improvements in a manner that, to the extent reasonably possible, does not severely negatively impact normal use and occupancy of the Residence. Resident acknowledges and agrees that any maintenance obligation any Acre Entity undertakes pursuant to this Agreement will not constitute an eviction or other termination of this Agreement or of Resident's occupancy rights, and consequently the Monthly Fee and any other amounts that may become due and payable from Resident under this Agreement will not abate.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(F) **Acre Inspection**. Property Manager, Acre and their agents have the right at all reasonable times during the Term following reasonable prior notice to Resident (except in the case of an emergency, when no prior notice will be required) to enter the Home and Residence for the purpose of inspecting the Home and Residence and for the purposes of making any repairs, additions, or alterations as Property Manager or Acre may deem appropriate or as are required to be made by Acre pursuant to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>ALTERATIONS AND IMPROVEMENTS</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) **Alterations Overview**. Resident may perform, pursuant to the terms and provisions of this Agreement, Cosmetic Alterations (as defined below) and Major Project Alterations (as defined below) to the Home and Residence. Property Manager's judgment will be determinative as to whether any alteration is a Cosmetic Alteration, Major Project Alteration, or Capital Improvement. Prior to commencing any alteration project, Resident is advised to consult with Property Manager as to the classification of the proposed alteration project. In addition, to assist Resident in performing alterations projects, Property Manager may provide Resident with the names of approved consultants or contractors with whom Resident may independently arrange to consult or contract with in order to assist in performing the proposed project. Resident acknowledges and agrees that, whether or not Resident uses any third party to assist with any alterations project, Resident remains solely responsible for complying with all terms and provisions of this Agreement, the other Residency Agreements, and Applicable Regulations with regard to such alterations project.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) **Cosmetic Alterations**. Resident is encouraged, as would be typical of any reasonable, concerned home occupant, to perform Cosmetic Alterations to the Home interior where such Cosmetic Alterations increase the overall market value of the Residence and are performed pursuant to the terms and conditions of this Agreement and are performed at Resident's cost. "**Cosmetic Alterations**" mean alterations that (i) are nonstructural in nature and thus do not affect the Home's mechanical, electrical, plumbing, life safety or other systems, or the structural integrity of the Home; (ii) do not reduce the value or utility of the Residence or any part thereof; and (iii) are of a purely cosmetic or decorative nature, such as painting interior walls or installing carpeting or other floor coverings. Cosmetic Alterations also include modifying the Residence's exterior grounds and landscaping, provided such modification is performed pursuant to the terms and provisions of this Agreement and of Applicable Regulations, and replacing Furnishings and Fixtures, such as lighting fixtures, window coverings, or updating appliances, provided such replacement is performed pursuant to the terms and provisions of this Agreement and of Applicable Regulations. Cosmetic Alterations to the Home or Residence may be performed, pursuant to the terms of this Agreement, and at Resident's cost, without prior approval from Property Manager.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) **Major Project Alterations**. In addition to performing Cosmetic Alterations, Resident may perform more significant Major Project Alterations to the Home or Residence where such Major Project Alterations increase the overall market value of the Residence and are performed pursuant to the terms and conditions of this Agreement and are performed at Resident's cost. "**Major Project Alterations**" mean alterations that (i) do not affect the Home's mechanical, electrical, plumbing, life safety or other systems, or the structural integrity of the Home; (ii) do not reduce the value or utility of the Residence or any part thereof; and (iii) are of a more permanent nature than mere cosmetic or decorative alterations. Examples of Major Project Alterations may include, by way of illustration only, remodel of a bathroom, modification of an outdoor patio area, or construction of paved walkways through landscaped areas at the Residence. Property Manager's prior written consent is required in order for Resident to perform any Major Project Alteration. In addition, for any Major Project Alteration, Resident is to consult with Property Manager for specific procedures and guidelines, and Resident must comply with all such procedures and guidelines, including completion of additional forms or other documentation which may be required for Resident's proposed Major Project Alteration project.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D) **Alterations Standards**. All alterations made by or on behalf of Resident to the Home or Residence, whether Cosmetic Alterations, Major Project Alterations, or otherwise, must comply with all provisions specified by the Property Manager and with all provisions of this Agreement, including, without limitation, this Section 5(D), and with all provisions of all other Residency Agreements. Resident will cause, at Resident's sole cost and expense, all alterations to comply with insurance requirements and with Applicable Regulations, including, without limitation, applicable building code requirements as well as the requirements of any applicable homeowner's association. All alterations will be constructed at Resident's sole cost and expense, using only new and good grades of materials, with all work performed in a good and workmanlike manner by contractors who are licensed, bonded, and insured as required by applicable law, and for all Major Project Alterations, such contractors must be reasonably acceptable to Property Manager and Acre. Property Manager may monitor construction of any alterations. Property Manager or Acre will have the right, in such party's discretion, to instruct Resident to remove Major Project Alterations or other improvements or alterations (where any such improvements or alterations are not Cosmetic Alterations) from the Residence which (i) were not approved in advance by Property Manager and Acre (where prior approval is required under this Agreement) or (ii) were not built in conformance with plans and specifications that had otherwise been approved by Property Manager and Acre or were not otherwise built in conformance with this Agreement or Acre Program standards, as may be established by the Acre Entities from time to time. Any alterations made to or in the Home or around the Residence will become the property of Acre unless Acre or Property Manager notifies Resident otherwise. Prior to beginning work on any Major Project Alterations or on any other alteration, other than Cosmetic Alterations, Resident will provide Property Manager and Acre with the identities and mailing addresses of all persons performing the work or supplying materials, and Property Manager may post on and about the Residence notices of non-responsibility pursuant to applicable law. Resident will assure payment for the completion of all work free and clear of liens and will provide certificates of insurance for workers' compensation and other coverage in amounts and from an insurance company reasonably satisfactory to Property Manager protecting Property Manager and Acre against liability for bodily injury or property damage during construction. Upon completion of any Major Project Alteration or any other alteration, other than Cosmetic Alterations, and upon Property Manager's reasonable request, Resident will deliver to Property Manager and to Acre sworn statements setting forth the names of all contractors and subcontractors who did work on the alterations and original final unconditional lien waivers from all such contractors and subcontractors. Resident acknowledges and agrees that the provisions of this Section 5(D) are intended to help maintain the overall market value of the Residence and that the overall market value of the Residence, in the future, may be reflected in appreciation of the Resident's Initial Home Value (as defined in the Value Share Agreement). Resident further acknowledges and agrees that the Acre Entities may, but are not required to, unilaterally enact a program whereby the value added to the Residence by one or more of Resident's Major Project Alterations may be allocated to Resident via adjustment to the Resident's Initial Home Value or other mechanism. The enactment of any such program will be further set forth in a subsequent addendum that may be attached to this Agreement.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>MONTHLY FEE</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) **Monthly Fee Definition and Payment**. As used in this Agreement, "**Monthly Fee**" means the monthly fee that Resident pays to Property Manager, without prior notice or demand, on or prior to the first day of every calendar month, as consideration for the occupancy and use, under the Acre Program, of the Residence. The Basic Agreement Provisions attached to the beginning of this Agreement identifies the Monthly Fee, as of the Commencement Date, that Resident will pay to Property Manager each calendar month. Subject to the provisions of this Agreement, Resident may pay the Monthly Fee by ACH or any other form acceptable to Property Manager. Resident will deliver the Monthly Fee, and any other payments that Resident may owe to Property Manager under this Agreement or under the Property Management Agreement, to the address identified for such payments at Section 18 of this Agreement or such other address as identified from time to time by Property Manager.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) **Proration; Payment Covenant**. The first Monthly Fee payment will be paid by Resident to Property Manager on the Commencement Date. In the event the Commencement Date is not the first day of a calendar month, the Monthly Fee payment made by Resident on the Commencement Date will be prorated based on the number of days in that calendar month. In the event the Termination Date is not the last day of a calendar month, the Monthly Fee payment made by Resident for such partial month will be prorated based on the number of days in that calendar month. Other than for the prorated Monthly Fee payments provided for here in this Section 6(B), Resident will pay the then-current full amount of the Monthly Fee to Property Manager on or prior to the first day of every calendar month. Resident acknowledges and agrees that the Monthly Fee is determined, in part, by factors over which Resident or the Acre Entities have no control, such as tax and insurance payments on the Residence, and that these costs do not abate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) **Late Payments; Dishonored Checks**. Any Monthly Fee payment not paid to Property Manager by the third day of the calendar month will be delinquent. Any other payment that may be due to Property Manager under the terms of this Agreement that is not paid within five days of the due date of such payment will be delinquent. If any Monthly Fee or other payment is delinquent, Resident will pay to Property Manager, in addition to the payment otherwise due, a late fee equal to ten percent (10%) of the delinquent payment amount. If any payment by Resident is returned for insufficient funds or if Resident stops payment on any check tendered to Property Manager, Resident will pay Property Manager an additional charge of Fifty Dollars ($50.00). After Resident has tendered a check that is dishonored, Resident hereby agrees to pay all remaining payments, including the Monthly Fee, due under this Agreement by certified funds until such time as Property Manager may notify Resident, in writing, that Property Manager will again accept funds by other means of payment.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. <u>ASSIGNMENT AND SUBLEASING.</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) **Assignment and Subleasing Prohibited**. Resident will not assign this Agreement, or sublease or grant any license to use the Residence or any part thereof without the prior written consent of, in each instance, both Property Manager and Acre, exercisable in the sole discretion of such parties. A consent by Property Manager and Acre to any one assignment, subleasing or license will not be deemed to be a consent to any subsequent assignment, subleasing or license. Any assignment, subleasing or license without the prior written consent of Property Manager and Acre or an assignment or subleasing by operation of law will be absolutely null and void and will, at the Acre Entities' option, terminate this Agreement. Notwithstanding any permitted assignment or subleasing, Resident will remain fully responsible and liable for payment of the Monthly Fee and for the performance of all of Resident's other obligations, including any payment obligations, under this Agreement. Resident will be liable for all actions or damages of all persons who occupy the Home or Residence in violation of this Section 7(A). Resident acknowledges and agrees that the provisions of this Article 7 are intended to help protect the overall market value of the Residence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) **Short-Term Subleasing Prohibited**. Without limiting the prohibition set forth in Section 7(A) of this Agreement, and without limiting any of the Acre Entities' rights or remedies under this Agreement or at law or in equity, Resident is strictly prohibited from subleasing, licensing, or renting to any third party, or allowing occupancy by any third party, of all or any portion of the Residence, whether for an overnight use or duration of any length, without the prior written consent in each instance of both Property Manager and Acre. This prohibition applies to overnight stays and any other stays arranged on Airbnb.com or other similar internet sites. Resident may not list or advertise the Residence as being available for short-term subleasing, rental or occupancy by others on Airbnb.com or similar internet websites. Listing or advertising the Residence on Airbnb.com or similar internet websites will be a violation of this Agreement and a Resident default. Resident will be liable for all actions or damages of all persons who occupy the Residence in violation of this Section 7(B).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) **Mortgage or Other Pledge Prohibited**. Resident will not mortgage, pledge, encumber, or permit any lien to attach to, other otherwise transfer, this Agreement or any interest herein, or permit any assignment, or other transfer of this Agreement or any interest hereunder by operation of law. Any violation by Resident of this Section 7(C) will be a Resident default.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. <u>TERMINATION</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) **Termination; Surrender of the Residence**. Upon the expiration of the Term or upon any other earlier termination of this Agreement, Resident will (i) vacate and surrender the Home and Residence in as good or better of a state and condition as the Home and Residence were in on the Inspection Date, normal wear and tear excepted, and (ii) remove all of Resident's furniture and other personal property from the Home and Residence in accordance with all Applicable Regulations. Unless this Agreement has been terminated earlier as provided for herein, Resident will vacate and surrender the Home and Residence in the condition required by this Section 8(A) on or prior to the Termination Date. In the event that Resident has, in Property Manager and Acre's discretion, failed to comply, upon the expiration of the Term or upon any other earlier termination of this Agreement, with the Residence maintenance standards and surrender requirements specified in this Agreement and in the Value Share Agreement, then Acre may apply the Resident's Option Payment (as defined in the Value Share Agreement), or any portion thereof, to any damages caused by, or to help pay for any costs imposed because of, Resident's failure to comply with the provisions of this Section 8(A), with any remainder of the Value Share Payment paid back to Resident as provided for under the Value Share Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) **Holdover**. If Resident remains in possession of the Residence without the prior written consent of both Property Manager and Acre after expiration of the Term, or upon any other earlier termination of this Agreement, then in addition to any other rights and remedies Property Manager may have under this Agreement or at law or in equity, Resident will pay the Monthly Fee to Property Manager at one hundred fifty percent (150%) of the rate paid at the time of the expiration of the Term or at the time of such earlier termination of this Agreement, as applicable.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. <u>RESIDENT REPRESENTATIONS AND WARRANTIES</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) **True and Correction Information**. Resident represents and warrants to Property Manager that all information given by Resident in this Agreement, or in any other Residency Agreement, or in any other document or application provided by Resident in connection with this Agreement is true and correct. Resident will provide new information to Property Manager if there is any substantial change in such information. The Acre Entities are relying on the truthfulness and completeness of such statements and, should any such statements be found to be untrue, then, at the option of such Acre Entity or Acre Entities: (i) this Agreement may be immediately void, forfeited or terminated, and (ii) Resident will be liable to the Acre Entities for all losses and damages (including attorneys' fees) caused by Resident's action or omission.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) **OFAC**. Resident represents and warrants to Property Manager that Resident is not, and shall not become, a person or entity with whom Property Manager or any Acre Entity is restricted from doing business with under regulations of the Office of Foreign Asset Control ("**OFAC**") of the Department of Treasury (including those named on OFAC's Specially Designated and Blocked Persons list) or under any statute, executive order (including the September 24, 2001, Executive Order Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten to Commit, or Support Terrorism), or other governmental action and is not and shall not engage in any dealings or transaction or be otherwise associated with such persons or entities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) **No Registry Required**. Resident represents and warrants to Property Manager that Resident is not, and covenants that Resident will not become, a person who is required to register or has registered as a convicted sex offender on any federal or state registry.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. <u>DEFAULT</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) **Events of Default**. Each of the following will be a Resident default under this

Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Resident fails to pay any installment of the Monthly Fee within three (3) days after the date due or within such other period of time as may be specified under applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Resident fails to pay any other amount that may be due under this Agreement within five (5) days after the due date or within such other period of time as may be specified under applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Resident violates any covenant, term or condition of this Agreement or of any of the Residency Agreements. This includes, without limitation, failure to maintain the Residence in full compliance with the maintenance standard as specified in this Agreement, or Resident's violation of any Applicable Regulations or of any other applicable laws with respect to the use or occupancy of the Home or Residence. Notwithstanding the foregoing, and except as may be provided otherwise in this Agreement, Resident shall have ten (10) days after notice from Property Manager of such violation to cure the same.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) Resident has provided incorrect or false information in this Agreement or in any other Residency Agreement, document, or application provided in connection with the Residency Agreements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) Resident abandons the Home or Residence. Resident's absence from the Home for fifteen (15) consecutive days after the Monthly Fee becomes due and remains unpaid, or Resident's removal of substantially all possessions in the Home (unless the Monthly Fee is current and Resident has notified Property Manager of Resident's absence) will create a conclusive presumption of abandonment of the Home and Residence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) This Agreement or the Value Share Agreement, or both such agreements, is or are terminated prior to the applicable Termination Date as a result of any action or inaction of Resident, where both Property Manager and Acre have not, in each such party's discretion, given prior written notice to Resident to acknowledge acceptance of such early termination by Resident. This is a "**Termination Default**".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) Resident is the debtor in, or becomes the subject of, a bankruptcy proceeding or makes a voluntary assignment for the benefit of creditors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) A receiver, guardian or trustee is appointed for Resident's property.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) **Remedies**. Upon the occurrence of any Resident default, Property Manager or Acre may institute eviction proceedings pursuant to applicable law and/or pursue all other remedies provided for under this Agreement, the Value Share Agreement, or applicable law, including, without limitation, suit to collect unpaid amounts, damages, and reasonable attorneys' fees, and applying the monetary amount of the Option Payment, or any portion thereof, to any damages caused by, or to help pay for any costs imposed because of, Resident's default. The Acre Entities may also impose reasonable and non-discriminatory fines for any default, including imposing a fine for any Termination Default, and may satisfy, whether wholly or partially, any Termination Default fine by applying the Option Payment, or any portion thereof, to the fine amount. All remedies available to the Acre Entities are cumulative and may be pursued individually, successively or together. Resident acknowledges that the Acre Entities may (with or without demand for performance) terminate Resident's right of occupancy of the Residence by providing Resident with the minimum prior written notice required by applicable law to vacate, and shall be entitled to possession by eviction suit, and Resident will be liable for any payment deficiency resulting therefrom. In the event Resident vacates or abandons the Residence, Resident expressly waives, to the maximum extent permitted by applicable law, any and all notices to vacate. If Resident abandons the Residence, Property Manager or Acre may repossess the Residence, and Resident will be liable for any payment deficiency resulting therefrom. Upon any default, Property Manager and Acre will be entitled to collect such party's costs of enforcing the terms of this Agreement and of collection, including collection agency costs, litigation costs, and reasonable attorneys' fees (including in-house counsel and appeal, whether or not a lawsuit is brought). Notwithstanding anything in this Agreement to the contrary, Property Manager shall not be deemed to have terminated this Agreement unless expressly set forth in a writing signed by Property Manager.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) **Non-Waiver**. Failure on the part of any Acre Entity to exercise any of its rights hereunder or under any other Residency Agreement upon any Resident default shall not prevent such Acre Entity from the exercise of any such rights upon any subsequent Resident default. Property Manager's acceptance of any delinquent Monthly Fee or of any other amounts that become due hereunder shall in no event act as a waiver of Property Manager's right to terminate this Agreement or seek any other remedy for nonpayment of such amounts due. Any Acre Entity's waiver of any Resident default hereunder shall not constitute, nor be held or construed as, a waiver of any subsequent or other Resident default. No indulgence, waiver, election, or non-election by any Acre Entity under this Agreement shall affect Resident's duties and liabilities hereunder.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D) **No Duty to Mitigate**. Unless required by applicable law, neither Property Manager nor Acre has any obligation to mitigate such party's damages in the event of a Residence default. In the event that either Property Manager or Acre attempts to find an occupant for the Residence, Resident agrees that: (i) neither party is required to find an occupant for the Residence before entering into binding agreements with regard to occupancy of any other residences available for any Acre Entity to lease or otherwise make available for occupancy, (ii) Property Manager or Acre may make available for occupancy the Residence for a period longer or shorter than the remaining Term, and (iii) Property Manager and Acre are not required to make available for occupancy the Residence at a rate less than, or on terms less advantageous to such Acre Entity than, it has contracted with other parties to occupy other residences available for any Acre Entity to lease or otherwise make available for occupancy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(E) **Cross Default**. A default by Resident under this Agreement is a default under all the Residency Agreements (without need of notice of such cross-default to Resident); conversely, a default by Resident under either the Value Share Agreement or the Property Management Agreement is also a default under this Agreement as well as a default under all other Residency Agreements (without need of notice of such cross-default to Resident).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. <u>DAMAGE TO RESIDENCE</u>. Resident will notify Property Manager in writing immediately upon the occurrence of any damage or destruction to the Home or Residence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) **Partial Damage; Repair**. In the event the Home is partially damaged so that it remains habitable, and provided that the damage was not the result, whether wholly or partially, of negligence or of any other act or omission of Resident or of any guest or invitee of Resident, then if Acre receives insurance proceeds sufficient to pay for the necessary repairs to the Home, Acre or Property Manager will use such insurance proceeds to repair the damage as soon as reasonably possible. In addition, provided Acre receives insurance proceeds sufficient to pay for any such repairs, then Acre may also, in its discretion, elect to repair any Furnishings and Fixtures, Cosmetic Improvements, or Major Project Alterations. Any damaged Furnishings and Fixtures, Cosmetic Improvements, or Major Project Alterations that Acre elects, in its discretion, not to repair, will be repaired by Resident, at Resident's cost, and with Resident promptly commencing such work and diligently pursuing the same to completion, provided this Agreement is not otherwise terminated. All of Resident's covenants and obligations under this Agreement and under all other Residency Agreements will be in effect during any period of repair. If any damage to the Home or Residence or any Furnishings and Fixtures is the result, whether wholly or partially, of negligence or of any other act or omission of Resident or of any guest or invitee of Resident, then Resident will be responsible, at Resident's cost, for repairing all such damage, whether or not this Agreement is otherwise terminated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) **Destruction**. In the event the Home or Residence is destroyed so that it is rendered wholly uninhabitable, and provided that the damage was not the result, whether wholly or partially, of negligence or of any other act or omission of Resident or of any guest or invitee of Resident, then this Agreement shall terminate as of the date of such destruction event ("**Casualty Date**"), except for the purpose of enforcing any rights that may have accrued hereunder. The Monthly Fee and any other amounts provided for under this Agreement shall then be accounted for, by and between Property Manager and Resident, up to the Casualty Date.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) **Termination Following Damage or Destruction**. Following any event whereby the Home is partially damaged so that a portion of the Home may not be habitable, Resident may elect, within ninety (90) days following the date of the damage event, to give Acre and Property Manager the Resident's termination notice. If Resident delivers its termination notice to Acre and Property Manager, then provided Resident is otherwise in compliance with all terms and provisions of this Agreement, this Agreement will terminate one hundred twenty (120) days following the date of the damage event. Property Manager may elect, following any damage event, to terminate this Agreement, with Acre or Property Manager delivering such termination notice to Resident within ninety (90) days following the date of the damage event. Notwithstanding any other provision of this Article 11 and its subsections, Resident may elect to terminate this Agreement only if (i) the damage or destruction to the Home or Residence was not the result, whether wholly or partially, of negligence or of any other act or omission of Resident or of any guest or invitee of Resident, and (ii) both at the time of Resident's delivery of Resident's termination notice to Acre and Property Manager, and on the date of termination, Resident is in compliance with all terms and conditions of this Agreement and with all other Residency Agreements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. <u>CONDEMNATION OF RESIDENCE</u>. In the event the Residence is taken through the power of eminent domain, or under the threat of the power of eminent domain, this Agreement will remain in effect until the date upon which Resident must leave the Residence, and then this Agreement will terminate on such date. In the event of a taking of the Residence, the entire award for damage to the Residence will be the sole property, right and cause of action of Acre.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13. <u>INDEMNIFICATION AND RELEASE</u>. To the extent permitted under applicable law, Resident, for and on behalf of Resident and any invitees or guests of Resident, releases Acre, Property Manager and Acre's and Property Manager's officers, directors, members, managers, partners, shareholders, employees, affiliates, agents and representatives (collectively, the "**Acre Parties**"), from any loss or damage, as well as any and all claims for offset, setoff or reduction of Monthly Fee, or of any other fee that may be due under this Agreement, resulting from such loss or damage, incurred as a result of:

● Mischief or other crime, vandalism, fire, smoke, water, lightning, rain, flood, water leaks, mold or mildew, hail, ice, snow, wind, explosion, terrorism, sonic boom, interruption of utilities, electrical shock, defect in any of the Furnishings and Fixtures or other contents of the Home or Residence (including latent defects), insects or other pests, acts of God, acts of neighboring residents or their occupants, guests or invitees;

● Outages, interruptions, or fluctuations in the utility services provided to the Home or Residence; or

● Storage, disposal, loss, or sale of any personal property in the Home or Residence, including theft by others.

Without limiting the foregoing, the Acre Parties shall not be liable for any damage or injury of or to Resident, Resident's family, guests, invitees, agents, or employees or to any person entering the Home or Residence or any Furnishings and Fixtures or to other goods or equipment, except to the extent based on an act or omission of Acre or Property Manager or any agent or employee of Acre or Property Manager. Resident agrees to indemnify, defend, and hold harmless Acre, Property Manager, and the Acre Parties for any liability, costs (including reasonable attorneys' fees), or claims for personal injuries or property damage caused by the negligent, willful, or intentional act or omission to act of Resident or Resident's guests or invitees, or from any unauthorized liens placed on the Residence, including, but not limited to, mechanics' liens and judgment liens, placed on the Real Property by Resident, at Resident's direction, or occurring in any manner as a result of Resident's occupancy of the Home or Residence. Each party hereto waives the right of subrogation against the other party.

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In no event shall the Acre Parties be liable to Resident for any damages, costs or expenses in excess of such parties' interest in the Residence. All judgments against the Acre Parties shall be enforced only against such interest and not against any other present or future asset of the Acre Parties. Resident waives any right to make any claim against or seek to impose any personal liability upon Acre, Property Manager, or any Acre Parties. The Acre Parties' liability shall, at all times, be subject to the provisions of applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14. <u>TRANSFER OF PROPERTY MANAGER'S INTEREST</u>. Resident acknowledges that Property Manager has the right to transfer all or any portion of its interest in this Agreement, and Resident agrees that in the event of any such transfer, Property Manager will automatically be released from all liability under this Agreement, and Resident agrees to look solely to Property Manager's transferee for the performance of Property Manager's obligations hereunder after the date of transfer and the transferee will be deemed to have fully assumed and be liable for all obligations of this Agreement to be performed by Property Manager, and Resident will attorn to the transferee. Resident further acknowledges that Property Manager may assign its interest in this Agreement to a mortgage lender as additional security and agrees that such an assignment will not release Property Manager from its obligations under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15. <u>FURTHER ASSURANCES</u>. From and after the Commencement Date, Resident and Property Manager each agrees to do such things, perform such acts, and make, execute, acknowledge, and deliver such documents as may be reasonably necessary and customary to complete the transactions contemplated by this Agreement, including, without limitation, executing any further agreements or instruments required by any lender under any third-party mortgage.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16. <u>FORCE MAJEURE</u>. A force majeure event occurs if Property Manager or Resident cannot perform any of its obligations due to events beyond such party's control (except with respect to the obligations for payment of the Monthly Fee and any other charges that may be required to be paid by Resident under this Agreement), and in such cases the time provided for performing the applicable obligations will be extended by a period of time equal to the duration of the force majeure events. Events beyond Property Manager's or Resident's control include, but are not limited to, acts of God, war, civil commotion, terrorist acts, labor disputes, strikes, fire, flood or other casualty, shortages of labor or material, government regulation or restriction, waiting periods for obtaining governmental permits or approvals or inspections, or weather conditions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17. <u>INTERPRETATION; JOINT AND SEVERAL LIABILITY</u>. In this Agreement (unless the context clearly requires another interpretation), the singular includes the plural and the plural includes the singular; words importing any gender include the other genders; and references to articles, sections (or subdivisions of sections) or exhibits are to those of this Agreement. If this Agreement is executed by more than one party as Resident, the obligations of such persons or entities will be joint and several.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18. <u>NOTICE ADDRESSES</u>.

Notice address for Property Manager: <u> ACRE HOME OPERATIONS LLC 212 West Main Street Suite 200, PMB 203 Durham, North Carolina 27701 Attention: Andrew Toby Phone: 919-759-5756 Email: support@acrehomes.com</u>

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| | |
|:---|:---|
| &nbsp;&nbsp; NOTICE ADDRESS FOR Acre: | &nbsp;&nbsp; ACRE HOME OWNERSHIP HOLDINGS LLC<br> 212 West Main Street<br> Suite 200, PMB 203<br> Durham, North Carolina<br> 27701 Attention: Andrew<br> Toby Phone: 919-759-5756<br> Email: support@acrehomes.com |
| &nbsp;&nbsp;Notice address for Resident: | &nbsp;&nbsp;*See the Basic Agreement Provisions, in the Property Specific Agreement*. |

---

All notices or communications given or required to be given by any party to another party hereunder may be sent electronically, unless applicable law requires physical delivery, in which case any such notice will be sent both electronically and in writing, with such writing to be sent by United States certified or registered mail, postage prepaid, return receipt requested, nationally recognized commercial overnight courier, or delivered personally to the addresses set forth above. Each party will have the right from time to time to change the place notice is to be given under this Agreement by written notice thereof to the other party or parties hereto. Any notice will be deemed given three (3) business days after the date it is mailed as provided in this Section 18, or upon the date delivery is made, if delivered by an approved courier (as provided above) or personally delivered, with the exception of any payment, including any Monthly Fee payment required of Resident hereunder, all of which payments will be deemed given only upon the physical receipt thereof by Property Manager or Acre, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19. <u>BINDING EFFECT; CHOICE OF LAW</u>. This Agreement binds any party who legally acquires any rights or interest in this Agreement from Property Manager or Resident. However, Property Manager shall have no obligation to Resident's successor unless the rights or interests of Resident's successor are acquired in accordance with the terms of this Agreement. The laws of the State in which the Residence is located shall govern this Agreement, without regard to such State's conflicts of law principles. Resident hereby knowingly, intentionally, and irrevocably agrees that Property Manager may bring any action or claim to enforce or interpret the provisions of this Agreement in the State and County where the Residence is located, and that Resident irrevocably consents to personal jurisdiction in such State for the purposes of any such action or claim. Nothing in this Section 19 shall be deemed to preclude or prevent Property Manager from bringing any action or claim to enforce or interpret the provisions of this Agreement in any other appropriate place or forum. Resident further agrees that any action or claim brought by Resident to enforce or interpret the provisions of this Agreement, or otherwise arising out of or related to this Agreement or to Resident's use and occupancy of the Residence, regardless of the theory of relief or recovery and regardless of whether third parties are involved in the action, may only be brought in the State and County where the Residence is located, unless otherwise agreed in writing by Property Manager prior to the commencement of any such action.

**IN THE INTEREST OF OBTAINING A SPEEDIER AND LESS COSTLY ADJUDICATION OF ANY DISPUTE, PROPERTY MANAGER AND RESIDENT HEREBY KNOWINGLY, INTENTIONALLY, AND IRREVOCABLY WAIVE THE RIGHT TO TRIAL BY JURY IN ANY LEGAL ACTION, PROCEEDING, CLAIM, OR COUNTERCLAIM BROUGHT BY EITHER OF THEM AGAINST THE OTHER ON ALL MATTERS ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE USE AND OCCUPANCY OF THE RESIDENCE.**

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20. <u>ATTORNEYS' FEES</u>. To the extent permitted under applicable law, in the event any dispute arises between Resident and Property Manager concerning this Agreement that results in litigation, the losing party shall pay the prevailing party's actual, reasonable attorneys' fees and court costs, which shall be determined by the court and made a part of any judgment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21. <u>SEVERABILITY</u>. If any provision of this Agreement or the application of this Agreement shall, for any reason and to any extent, be invalid or unenforceable, neither the remainder of this Agreement nor the application of the provision to other persons, entities or circumstances shall be affected thereby, but instead shall be enforced to the maximum extent permitted by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22. <u>TIME IS OF THE ESSENCE</u>. Time is of the essence of each and every provision of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23. <u>MODIFICATION</u>. Resident and Property Manager hereby agree that this Agreement shall not be modified, changed, altered, or amended in any way except through a written amendment signed by all of the parties hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24. <u>COUNTERPARTS</u>. This Agreement may be executed in two or more original or electronic counterparts, each of which shall be deemed an original and all of which together shall constitute but one and the same instrument.

[Signature Page]

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**EXHIBIT "A"**

**RESIDENCE OCCUPANCY CHECKLIST**

This Exhibit "A," Residence Occupancy Checklist, is attached to and part of that certain Home Residency Agreement ("**Agreement**"), dated as of , by and between _____________ (individually or collectively, the "**Resident**"), and ACRE HOME OPERATIONS LLC, a Delaware limited liability company ("**Property Manager**"). Capitalized terms used in this Exhibit "A" but not defined herein have the meaning given to them in the Agreement.

Within 14 days of the Commencement Date, Resident and Property Manager will perform a walk- through of the Residence, during which walk-through Resident will use the Residence Occupancy Checklist, whether substantially in the form attached hereto at this Exhibit "A" or in such form as may be provided by Property Manager (the "**Residence Occupancy Checklist**"), to identify any items associated with the Residence that Resident and Property Manager mutually agree require further maintenance, as of the Inspection Date, by Property Manager.

In the event the Residence Occupancy Checklist is not completed, mutually signed, and delivered by Resident to Property Manager within five (5) days after the Inspection Date, then Resident acknowledges and agrees that Resident has accepted the Residence and all Furnishings and Fixtures therein "AS-IS, WITH ALL FAULTS."

In the event any item is marked on the Residence Occupancy Checklist, thereby identifying it as an item which Resident and Property Manager mutually agree, as of the Inspection Date, requires maintenance by Property Manager, then, except as specified otherwise in the Residence Occupancy Checklist, Property Manager shall have thirty (30) days following the Inspection Date to perform such maintenance; provided that, in the event any maintenance item, in Property Manager's reasonable discretion, will require longer than thirty (30) days to complete, Property Manager shall have such time as Property Manager reasonably believes is necessary to complete the maintenance.

**Inspection Date: _______________**

<u>CONDITION OF RESIDENCE; FURNISHINGS AND FIXTURES</u>

Resident stipulates, represents, and warrants that Resident has examined the Residence, and that the Residence is, as of the Inspection Date, in good order, repair, and in a safe, clean, and tenantable condition. Resident acknowledges receipt of the following Furnishings and Fixtures within the Home and Residence as of the Inspection Date (check if present), and unless Resident has indicated otherwise below, any such Furnishing and Fixture is safe, clean, and operable.

---

| | | | |
|:---|:---|:---|:---|
| ☒ Refrigerator | ☒ Air Conditioning | ☐ Intercom System | ☐ |
| ☒ Stove | ☒ Heating | ☐ Alarm System | ☐ |
| ☒ Oven | ☐ Trash Compactor | ☐ Sprinkler System | ☐ |
| ☒ Microwave | ☐ Water Conditioner Equip. | ☐ Floor Coverings | ☐ |
| ☒ Disposal | ☒ Garage Door Opener | ☒ Window Coverings | ☐ |
| ☒ Dishwasher | ☐ BBQ | ☐ Solar Screens | ☐ |
| ☐ Washer | ☒ Light Fixtures | ☐ Pool Equipment | ☐ |
| ☐ Dryer | ☒ Ceiling Fans | ☐ Spa Equipment | ☐ |

---

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Except as may be specified otherwise above, Resident hereby accepts the Residence and all Furnishings and Fixtures therein as of the Inspection Date "AS-IS, WITH ALL FAULTS."

[Signature page]

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**<u>VALUE SHARE AGREEMENT</u>**

**THIS VALUE SHARE AGREEMENT** is an option agreement ("**Option Agreement**" or "**Value Share Agreement**"), dated as of , by and between__________________("**Resident**") and ACRE HOME OWNERSHIP HOLDINGS LLC, a Delaware limited liability company ("**Acre**"). Each of Resident and Acre is sometimes hereinafter referred to individually as an "**Option Party**," and collectively as the "**Option Parties**."

**RECITALS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. Acre is the 100% fee interest owner of the Real Property and of the Home located on the Real Property (the Home and the Real Property are hereinafter called the "**Residence**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. Concurrent with the execution of this Value Share Agreement, Resident and ACRE HOME OPERATIONS LLC, a Delaware limited liability company ("**Property Manager**"), are entering into a Home Residency Agreement, which establishes, pursuant to the Acre Program, terms and provisions of Resident's use, occupancy, and maintenance obligations of the Residence ("**Home Residency Agreement**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. Resident and Acre are also entering into a "**Property Specific Agreement**," which establishes, pursuant to the Acre Program, the terms and provisions specific to the property including a description of the property, the Initial Home Value, the Value Share Payment, the Monthly Payment, the length of the term, and applicable termination fees (as hereinafter defined).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E. Resident desires, for and in consideration of the Value Share Payment (as hereinafter defined) and other good and valuable consideration, to accept from Acre the exclusive right and option to purchase the Residence at the end of the Term pursuant to the terms and provisions of this Value Share Agreement ("**Purchase Option**").

**NOW THEREFORE**, in consideration of the mutual covenants and conditions contained in this Value Share Agreement and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Acre and Resident agree that the foregoing recitals are true and correct and incorporated herein, and also agree as set forth below.

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**AGREEMENT**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>GRANT OF PURCHASE OPTION</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) **Value Share Payment**. As consideration for the grant by Acre of the Purchase Option, Resident will pay to Acre the "**Value Share Payment**" identified in the Property Specific Agreement. The "**Initial Home Value**" is listed on the Property Specific Agreement and represents the initial market value of the Residence (including any adjustments agreed to by the Parties) as determined by Acre. Resident will pay the Value Share Payment to Acre in cash, cashier's check, wire transfer (or other immediately available funds), and will deliver the Value Share Payment to the address or to the bank account that Acre will identify. Resident acknowledges and agrees that (i) Acre has no obligation to hold the Value Share Payment in an escrow, segregated, or interest-bearing account, (ii) Acre or Property Manager may apply, at any time prior to the Termination Date or the Purchase Option Closing (each as hereinafter defined), the Value Share Payment, or any portion thereof, to the costs of any matters concerning the Residence, or any portion thereof, or concerning this Value Share Agreement, including, without limitation, Resident default; and (iii) any portion of the Value Share Payment may be refundable to Resident as specifically authorized pursuant to the terms and provisions of this Value Share Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) **Purchase Option Term**. Prior to the commencement of the "**Term**" of this Value Share Agreement, and for the Purchase Option for Resident to be in effect, Resident must provide Acre (or, in the case of Item (3) below, by any other appropriate Acre Entity) the following materials:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Fully executed copies of this Value Share Agreement, the Home Residency Agreement, and the Property Specific Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The Value Share Payment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Any other fees due and owing by Resident upon execution of any of the Residency Agreements (as hereinafter defined);

When conditions (1) through (3), identified above, have all, in Acre's discretion, been satisfied, Acre shall provide Resident with notice of that certain calendar date that the Term of this Value Share Agreement is to commence (the "**Commencement Date**"). The Term of this Value Agreement will expire on that certain calendar date that is three (3) years after the Commencement Date ("**Termination Date**"), unless this Value Share Agreement is sooner terminated pursuant to the provisions hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) **Updated Property Valuation and Fees. Upon** Resident's request, at or around 100 days prior to the end of the Term, Acre will deliver an estimated current market value of the property, as determined by Acre, and/or a **Purchase Option Price** (such delivery a "**Purchase Option Price Valuation**. Upon such request, Acre shall have 10 days to provide Resident with a **Purchase Option Price Valuation**. The **Purchase Option Price** shall be the greater of the current market value of the home, as determined by Acre, or the Initial Home Value and shall remain current for ten (10) days after it is delivered. Upon Resident's request, at or around 100 days prior to the end of the Term, Acre shall also provide to the Resident an updated Monthly Fee (as defined in the Property Specific Agreement) that Resident will pay during the Term extension if the Resident elects to extend their term. Such updated Monthly Fee, for each requested additional Term extension may be subject to an increase or decrease over the then-current Monthly Fee, due to factors such as, by way of illustration only, tax or insurance obligations for the Residence, or current Residence market value ("**Term Extension Monthly Fee Valuation**");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D) **Value Share Term Extension**. Resident may, subject to all terms and provisions of this Value Share Agreement, request to extend the Term for an additional period of one (1) year. Such term extension may be exercised two times, provided that, in each instance, that Acre determines that all the following conditions (collectively, the "**Term Extension Conditions"**) as well as all other provisions of this Value Share Agreement, are fully complied with. After two Term Extensions, any additional Term Extensions are subject to Acre's approval/discretion. A Term Extension under this Agreement extends the terms of the Home Residency Agreement.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Term Extension Conditions :

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Resident has, no later than ninety (90) days prior to the Termination Date, given Acre written notice of Resident's request to extend the Term of the Value Share Agreement, with the extension period being for one (1) year ("**Term Extension Notice**");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Resident has reviewed and agreed in writing to the Monthly Fee as described in the Term Extension Monthly Fee Notice;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Resident is concurrently in compliance with all terms and provisions of the Home Residency Agreement, requesting to extend the Home Residency Agreement Term and has satisfied, in Property Manager's discretion, all Residency Term Extension Conditions as specified in the Home Residency Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) All Term Extension Conditions must, in Acre's discretion, be satisfied in order for the Term to be extended; any Term Extension Condition may be waived only in Acre's discretion. Delivery of the Term Extension Notice to Acre will, in Acre's discretion, be irrevocable, so the Option Parties have sufficient time to prepare for the Term extension.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) In the event the Term is extended pursuant to this Section 1(D), the "**Term**" shall mean both the original Term of this Value Share Agreement together with any and all extensions of the original Term, and "**Termination Date**" shall mean the Termination Date of the current extension Term.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(E) **Value Share Termination and Redemption**. Resident will have, subject to all terms and provisions of this Value Share Agreement, the one-time right to terminate the Value Share Agreement upon satisfaction, in Acre's discretion, of all of the following conditions (collectively, the "**Termination Conditions**"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Resident has, at least ninety (90) days prior to Resident's proposed termination date, given Acre written notice of Resident's request to terminate the Value Share Agreement ("**Termination Notice**");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Resident, in Acre's discretion, is in compliance with all terms and conditions of the Residency Agreements both as of the date of delivery to Acre of the Termination Notice and as of the date of the proposed termination.

All Termination Conditions must, in Acre's discretion, be satisfied for Resident to exercise the termination option; any Termination Condition may be waived only in Acre's discretion. Delivery of the Termination Notice to Acre will, in Acre's discretion, be irrevocable, so the Option Parties have sufficient time to prepare for the termination of the Value Share Agreement. Provided that all Termination Conditions are complied with pursuant to this Section 1(E), then the termination option shall be available to Resident during the original Term of this Value Share Agreement and during any Term Extension, where the Term Extension has been exercised in compliance with Section 1(D) above. Termination of this Value Share Agreement pursuant to compliance with all provisions of this Section 1(E) shall also terminate the Home Residency Agreement and Property Specific Agreement.

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After Acre has received Resident's Termination Notice, Resident agrees to allow Acre access to the Residence to evaluate the condition of the Residence and prepare the Residence for a new Acre Resident or to place the Residence on the market for sale ("**Post Termination Notice Access**"). Post Termination Notice Access includes, but is not limited to, Acre performing repairs to the Residence, cosmetic alternations, and making the Residence available to showings for potential new residents or purchasers, during Resident's Term.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(F) **Termination Payment.** A "Termination Payment" will be assessed if during Resident's Term, Acre receives Resident's Termination Notice that Resident has elected to terminate this Agreement for any reason, including Resident electing to leave the Acre Program home network or transfer to another Acre Program home, with Exhibit "A" attached hereto identifying Termination Payment amounts. The Termination Payment is consideration to Acre for the prior grant of the Purchase Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(G) **Expiration of Purchase Option Term; Surrender of Residence**. Upon the expiration of the Term, where the Purchase Option has not been exercised, or upon any other termination of this Value Share Agreement, Resident will vacate and surrender the Residence pursuant to the termination and surrender requirements specified in the Residency Agreements, which requirements may set forth a termination fee upon Resident's earlier termination of this Value Share Agreement or the requirement that Resident may be liable for certain costs if Resident has not maintained the Residence in accordance with the standards of the Acre Program.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(H) **Value Share Payment to Resident.** In the event the Term of this Value Share Agreement expires, where Resident has not exercised the Purchase Option, including as a result of termination by Resident, and provided Resident is not then in default of any term or provision of any of the Residency Agreements, then the portion of the Value Share Payment remaining, following payment to Acre of the Termination Payment and adjustment based on the value of the **Adjusted Value Share Payment** (as defined below) will be paid to Resident, at such account as Resident shall identify in writing to Acre, as soon as reasonably possible and no later than ten (10) days after Acre has placed another Acre Resident in the home or sold the property (each event a "**Market Pricing Event**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(I) **Adjusted Value Share Payment.** The **"Adjusted Value Share Payment"** is the Value Share Payment (a) plus any Value Share Appreciation, or minus any Value Share Depreciation, and minus any Termination Payment, and any other fees due to any Acre Entity under any Residency Agreement. If the home appreciates in value during the term, the Value Share Appreciation shall be calculated by taking the Total Home Value Change and multiplying it by the Value Share Appreciation percentage listed in the Property Specific Agreement. If the home depreciates in value during the term, the Value Share Depreciation shall be calculated by taking the Total Home Value Change and multiplying it by the Value Share Depreciation percentage listed in the Property Specific Agreement.

The Total Home Value Change is the End of Term Market Value minus the Initial Home Value. The End of Term Market Value will be determined by Acre, in its sole discretion, based on the price of the home at a Market Pricing Event **minus any capital expenditures by Acre prior to the Market Pricing Event**. When a Resident elects to exercise the Purchase Option the End of Term Market Value is the Purchase Option Price Valuation as described in Section 1(C)**, minus any capital expenditures by Acre.** In the event there is not a timely Market Pricing Event, Acre may elect, at its sole discretion, to determine the End of Term Market Value based on reasonable evaluation methods as determined by Acre.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>NATURE OF PURCHASE OPTION</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) **Residential Use**. Resident covenants and agrees that Resident is entering into this Value Share Agreement and acquiring the Purchase Option solely for purposes of residential ownership, use and occupancy of the Residence, with such use and occupancy being solely as a single-family dwelling which serves as the primary residence, occupied on a full-time basis, for Resident, and for no other use and purpose, including, without limitation, for no investment purpose or other expectation of profit earned on the Value Share Payment. Resident acknowledges and agrees that ownership, use and occupancy rights in the Residence are subject in all respects to the Acre Program and to the terms and provisions of the Residency Agreements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) **No Encumbrance or Transfer by Resident**. Resident will not mortgage, pledge, encumber, or permit any lien to attach to, or otherwise transfer, the Real Property or any portion thereof, or this Value Share Agreement or any interest herein, or permit any assignment, or other transfer of this Value Share Agreement or any interest hereunder by operation of law or otherwise without a prior written agreement by Acre signed by both parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) **Transfer by Acre**. Resident acknowledges that Acre has the right to transfer its ownership in the Real Property and in this Value Share Agreement to any person or entity, provided that such transferee agrees to assume all of Acre's rights and obligations under this Value Share Agreement and (provided Resident is not in default of any provision of this Value Share Agreement beyond any applicable notice and cure period as may be provided herein), to not disturb Resident's rights hereunder or in the Residence. Resident further agrees that, in the event of any such transfer by Acre, Acre will automatically be released from all liability under this Value Share Agreement, and Resident agrees to look solely to Acre's transferee for the performance of Acre's obligations hereunder after the date of transfer, and the transferee will be deemed to have fully assumed and be liable for all obligations of this Value Share Agreement to be performed by Acre, and Resident will attorn to the transferee. Resident further acknowledges that Acre may delegate any of its rights or obligations under this Value Share Agreement to one or more Acre Entities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D) **Third**-**Party Mortgages**. Resident acknowledges and agrees that Acre's ownership interest in the Real Property may be encumbered by one or more third-party mortgages from one or more third-party lenders or investors, with Acre as mortgagor thereunder. This Value Share Agreement is subject to applicable law with respect to third-party mortgages secured by the Real Property.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(E) **No Joint Venture**. Neither this Value Share Agreement, nor any other agreement referred to herein or entered into in connection herewith, and no activity of Resident or Acre in connection with the transaction described in this Value Share Agreement will constitute Resident and Acre as partners or joint venturers for any purposes whatsoever.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(F) **Further Obligations**. The Option Parties each agree to perform such acts as may be reasonably necessary to carry out the terms and conditions of this Value Share Agreement and the exercise or termination of the Purchase Option, including, without limitation, executing such additional documents as may be required under this Value Share Agreement or as may be required to effect the intent of the Option Parties with respect to the Real Property or the Home or any third-party mortgage of Acre affecting the Real Property.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(G) **Power of Attorney**. Resident shall, upon request from Acre, issue a power of attorney in favor of Acre for various matters, including, without limitation, the following ("**Resident's Power of Attorney**"): (i) negotiating and executing service and vendor agreements affecting the Home or Real Property, as well as renewals and amendments to the same; (ii) negotiating and executing any documents required or advisable in connection with any third-party mortgages or other financing for the Real Property; and (iii) performing any of the Resident's Standard Responsibilities or Resident's Major Project Alterations (as defined in the Home Residency Agreement) where Resident fails to perform the same to the satisfaction of any Acre Entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>EXERCISE OF PURCHASE OPTION.</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) **Exercise of Purchase Option; Conditions**. Resident will have, subject to all terms and provisions of this Value Share Agreement, the one-time right to exercise the Purchase Option at the end of the Term, with the purchase and sale of the Residence to take effect on the Termination Date or on such other proximate date as the Option Parties may mutually agree to in writing. In order to exercise the Purchase Option, Resident must satisfy, in Acre's discretion, all of the following conditions (collectively, the "**Purchase Option Conditions**"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Resident has, no later than ninety (90) days prior to the Termination Date ("**Election Date**"), given Acre written notice of Resident's election to exercise the Purchase Option at the then current Purchase Option Price ("**Purchase Option Notice**");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) All terms and conditions of this Article 3 (and all of its subsections) have, in Acre's discretion, been satisfied as of both the date of delivery to Acre of the Purchase Option Notice and as of the date of the proposed conveyance under the Purchase and Sale Agreement (as hereinafter defined);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) All terms and provisions with respect to the closing of the proposed conveyance under the Purchase and Sale Agreement, including terms and conditions to closing as provided by the Title Company (as hereinafter defined) have been satisfied, with Resident being solely responsible for all Loan Costs (as defined below) as well as for all transaction and closing fees and costs associated with the Residence conveyance, whether such fees and costs are incurred pursuant to the Purchase and Sale Agreement or this Value Share Agreement, or otherwise, or are imposed by the Title Company or otherwise; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) Resident, in Acre's discretion, is in compliance with all terms and conditions of the Residency Agreements both as of the date of delivery to Acre of the Purchase Option Notice and as of the date of the proposed conveyance under the Purchase and Sale Agreement.

In the event Resident is financing all or any portion of the Purchase Option Price through any financing or loan ("**Loan**"), Resident will be solely responsible for the payment, at or before the Purchase Option Closing, of all costs and expenses arising out of or in connection with the Loan (collectively, the "**Loan Costs**"). Loan Costs may include, but not be limited to: (i) all origination fees and discount points; (ii) required prepaid items; (iii) the cost of any title policy or endorsements required by Resident's lender; (iv) all of such lender's fees and expenses incurred in connection with the Loan; and (v) all closing costs and escrow fees relating to the funding of the Loan.

All Purchase Option Conditions must, in Acre's discretion, be satisfied for the exercise of the Purchase Option to be valid; any Purchase Option Condition may be waived only in Acre's discretion. Delivery of the Purchase Option Notice to Acre will, in Acre's discretion, be irrevocable, so the Option Parties have sufficient time to prepare for and to consummate the Residence purchase and sale that is to occur on or about the Termination Date.

![](ex6-12_001.jpg)

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) **Purchase and Sale Agreement**. Within forty-five (45) days following the receipt by Acre of the Purchase Option Notice, Resident and Acre will deliver into escrow, with a title and escrow agent selected by Acre ("**Title Company**"), a fully executed purchase and sale agreement ("**Purchase and Sale Agreement**"). Resident's Adjusted Value Share Payment (as defined above) may be (1) applied, at the Purchase Option Closing, as a purchase price reduction to the Purchase Option Price; (2) used as earnest money to purchase the Residence; or (3) the Value Share Payment used as earnest money to purchase the Residence and Value Share Appreciation will be applied, at the Purchase Option Closing, as a purchase price reduction to the Purchase Option Price. (**"Adjusted Value Share Payment Election")**. Prior to entering into the Purchase and Sale Agreement Resident will notify Acre of its Adjusted Value Share Payment Election. The Purchase and Sale Agreement will identify the following:

● The Purchase Option Price;

● That the Residence will be conveyed in its "as-is" condition;

● The Adjusted Value Share Payment and the Adjusted Value Share Payment Election;

● Any other deposits or fees to be paid by Resident; and

● Include any other terms and conditions that may be typical for similar transactions in the geographic area where the Residence is located.

If, despite the good faith efforts of Acre and Resident, Acre and Resident are unable to deliver the Purchase and Sale Agreement into escrow within forty-five (45) days following Acre's receipt of the Purchase Option Notice, then the Purchase Option, in Acre's discretion, may no longer be in effect. Upon the closing of the Purchase Option, pursuant to all terms and provisions of the Purchase and Sale Agreement ("**Purchase Option Closing**"), this Value Share Agreement and the other Residency Agreements will automatically terminate without further action by Acre, Resident, or Property Manager, and shall be of no further effect, except for any rights, obligations, and liabilities that may expressly survive such termination or which have accrued prior to such termination, including, without limitation, any monetary obligations that have accrued prior to the Purchase Option Closing but that remain unpaid as of such date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) **No Exercise**. If Resident does not exercise the Purchase Option, pursuant to the terms and provisions of this Value Share Agreement, by the Election Date, then (i) the Purchase Option shall automatically expire of its own force and effect on the calendar date immediately following the Election Date, (ii) this Value Share Agreement shall automatically terminate as of the Termination Date, unless sooner terminated pursuant to the provisions of this Value Share Agreement, and (iii) provided the conditions for return of the Adjusted Value Share Payment to Resident as specified in Section 1 are all satisfied, the Adjusted Value Share Payment will be returned to Resident in compliance with Section 1. Upon the termination of this Value Share Agreement for any reason other than exercise of the Purchase Option, Resident will surrender and vacate the Residence pursuant to the provisions of Section 1.

![](ex6-12_001.jpg)

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>RESIDENCE OCCUPANCY; MAINTENANCE</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) **Home Residency Agreement; Maintenance Overview**. The Home Residency Agreement will specify, without limitation, the Resident's Standard Responsibilities (as defined in the Home Residency Agreement) for Residence upkeep and maintenance, and the Resident's Monthly Fee (as defined in the Home Residency Agreement) that Resident will pay monthly to Property Manager to fund, pay for, or reimburse, without limitation, certain Residence reserves, expenses, and fees, as well as for certain services provided by Property Manager under the Property Manager Agreement (as hereinafter defined), and as consideration for Resident's occupancy and use of the Residence. The Home Residency Agreement addresses the rights and obligations of the Option Parties in the event of condemnation or casualty affecting the Real Property or any portion thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) **Property Management Agreement; Property Manager Services**. Acre and Property Manager have, or concurrent with this Value Share Agreement, will enter into a Property Management Agreement with respect to the Residence ("**Property Management Agreement**," and together with the Home Residency Agreement and this Value Share Agreement, the "**Residency Agreements**"), which establishes the Property Manager Services (as defined in the Property Management Agreement) that Property Manager may perform, on behalf of the Option Parties or on behalf of Resident or Acre, for certain maintenance and servicing for the Residence. Neither (i) the removal, withdrawal, termination, or resignation of Property Manager; (ii) any assignment for the benefit of creditors by or the adjudication of bankruptcy or incompetency of Property Manager; nor (iii) the termination of the Property Management Agreement, shall cause the termination of this Value Share Agreement and this Value Share Agreement shall remain in full force and effect notwithstanding any such events.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>INDEMNIFICATION</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) **Indemnification by Resident**. Resident agrees to indemnify, defend, and hold harmless Acre, Property Manager, and Acre's and Property Manager's officers, directors, members, managers, partners, shareholders, employees, affiliates, agents and representatives from any liability, costs (including reasonable attorneys' fees), or claims arising from or related to (i) any of Resident's Standard Responsibilities or Resident's Major Project Alterations, including from any failure to perform pursuant to the Acre Program and the standards established thereunder, as well as from any unauthorized liens, whether mechanics' liens or judgment liens or otherwise, placed on the Real Property or any portion thereof by Resident, at Resident's direction, or occurring in any manner as a result of Resident's occupancy, maintenance, or improvement of the Residence; and (ii) any failure to otherwise timely perform any obligation of Resident or to make any payment under this Value Share Agreement or under any other Residency Agreement, including, without limitation, the Resident's Monthly Fee. Resident hereby waives the right of subrogation against Acre.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) **Indemnification by Acre**. Acre and Property Manager ("**Acre Indemnitors**") each agrees to indemnify, defend, and hold harmless Resident for each such Acre Indemnitor's respective failure to perform its obligations and services under any of the Residency Agreements and under the Acre Program. Each Acre Indemnitor hereby waives the right of subrogation against Resident.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>DEFAULT; REMEDIES</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) **Events of Default**. Each of the following will be a Resident default under this Value Share Agreement: (i) Resident's failure to pay any amount that may be due under this Value Share Agreement within five (5) days after the due date or within such other time period as may be specified under applicable law; (ii) Resident's violation of any covenant, term or condition of this Value Share Agreement, provided that Resident, except as may be provided otherwise in this Value Share Agreement, shall have ten (10) days after notice from Acre of such violation to cure the same; (iii) Resident has provided incorrect or false information, whether in this Value Share Agreement or in any other agreement, document, or application provided in connection with this Value Share Agreement; (iv) Resident is the debtor in, or becomes the subject of, a bankruptcy proceeding or makes a voluntary assignment for the benefit of creditors; or (v) a receiver, guardian or trustee is appointed for Resident's property. Resident has the right to cure a default once in any 12-month period during the Term within the time periods described above or within such other time period as may be specified under applicable law.

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ACR-

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) **Remedies**. Upon the occurrence of any Resident default, Acre may pursue any or all remedies provided for under this Value Share Agreement, or under any of the other Residency Agreements, or available under applicable law or in equity, including, without limitation, eviction, and suit to collect unpaid amounts, damages, and reasonable attorneys' fees. Acre may also impose reasonable and non-discriminatory fines for any default. All remedies available to Acre are cumulative and may be pursued individually, successively, or together. Upon any default, Acre will be entitled to collect its costs of enforcing the terms of this Value Share Agreement and of collection, including collection agency costs, litigation costs, and reasonable attorneys' fees (including in-house counsel and appeal, whether or not a lawsuit is brought). Further, upon any default, Acre will be entitled to the Value Share Payment, or to any portion thereof, for payment or reimbursement of any costs incurred by Acre in connection with such default. In the event any amount of the Value Share Payment is thus applied by Acre following Resident default, then Acre may, in its sole discretion, (a) elect to reset the Value Share Payment to such reduced amount, whereupon the reduced amount will be the Value Share Payment hereunder, or (b) require that Resident fully restore the original amount of the Value Share Payment, whereupon Resident will, within ten (10) business days following notice thereof from Acre, fully restore the original amount of the Value Share Payment, and failure to do so by Resident will be a further Resident default hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) **Unpaid Amounts**. To the extent Resident fails to pay any funds due under this Value Share Agreement or under any of the Residency Agreements within five (5) days after such funds are due ("**Resident's Unpaid Payments**"), Acre may advance such funds on Resident's behalf. Resident will reimburse Acre, upon demand, the amount of the Resident's Unpaid Payments plus interest thereon at the rate of 12% per annum, or at such other maximum amount as may be permitted under applicable law, as a delinquency fee, until the Resident's Unpaid Payments are reimbursed to Acre in full. If such collection efforts by Acre are unsuccessful or insufficient to fully reimburse Acre for the Resident's Unpaid Payments, then Acre may collect the amounts due from any distribution pursuant to any of the Residency Agreements, or otherwise, including application of the Value Share Payment, until such time as Acre is fully reimbursed for the Resident's Unpaid Payments. The remedies available to Acre provided for herein are in addition to any other remedies that may otherwise be available, whether specified in any of the Residency Agreements, or whether available at law or in equity. In the event any amount of the Value Share Payment is thus applied by Acre pursuant to the provisions of this Section 6(C), then Acre may, in its sole discretion, (a) elect to reset the Value Share Payment to such reduced amount, whereupon the reduced amount will be the Value Share Payment hereunder, or (b) require that Resident fully restore the original amount of the Value Share Payment, whereupon Resident will, within ten (10) business days following notice thereof from Acre, fully restore the original amount of the Value Share Payment, and failure to do so by Resident will be a Resident default hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D) **Non-Waiver**. Failure on the part of Acre to exercise any of its rights hereunder upon any Resident default shall not prevent Acre from the exercise of any such rights upon any subsequent Resident default. Acre's acceptance of any delinquent amounts that become due hereunder shall in no event act as a waiver of Acre's right to seek any remedy for nonpayment of such amounts due. Acre's waiver of any Resident default hereunder shall not constitute, nor be held or construed as, a waiver of any subsequent or other Resident default. No indulgence, waiver, election, or non-election by Acre under this Value Share Agreement shall affect Resident's duties and liabilities hereunder.

![](ex6-12_001.jpg)

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(E) **Cross Default**. A default by Resident under this Value Share Agreement is a default under all the Residency Agreements (without need of notice of such cross-default to Resident); conversely, a default by Resident under either the Home Residency Agreement or the Property Management Agreement is also a default under this Value Share Agreement as well as a default under all other Residency Agreements (without need of notice of such cross-default to Resident).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. <u>ARBITRATION; WAIVER OF JURY TRIAL</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) **Binding Arbitration**. In the event of any dispute, claim, or controversy arising out of or relating to this Value Share Agreement (including matters relating to valuation of the Residence), such matter shall be settled by arbitration in the county where the Real Property is located, before a sole arbitrator, in accordance with the laws of the State for agreements made in and to be performed in such State. The arbitration shall be administered by the American Arbitration Association. Judgment entered upon any award rendered may be enforced by appropriate judicial action pursuant to the applicable State law. The Option Parties shall unanimously select the arbitrator. In the event the Option Parties are unable to unanimously select an arbitrator within ten (10) days of meeting to appoint an arbitrator, the American Arbitration Association shall select the arbitrator. The Option Parties shall confer with the arbitrator and together shall decide upon a time and place for the arbitration hearing. The parties shall agree within ten (10) days following selection of the arbitrator to any prehearing procedures or further procedures necessary for the arbitration to proceed, including interrogatories or other discovery; provided, that in any event, each Option Party shall be entitled to discovery in accordance with applicable State law. If the Option Parties and the arbitrator are unable to agree upon a time and place for the arbitration hearing, the arbitrator shall determine the time and place for the arbitration hearing. The losing party shall bear any fees and expenses of the arbitrator, other tribunal fees and expenses, reasonable attorneys' fees of both parties, any costs of producing witnesses, and any other reasonable costs or expenses incurred by the losing party or the prevailing party or such costs as shall be allocated by the arbitrator.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) **Waiver of Jury Trial. IN THE INTEREST OF OBTAINING A SPEEDIER AND LESS COSTLY ADJUDICATION OF ANY DISPUTE, ACRE AND RESIDENT HEREBY KNOWINGLY, INTENTIONALLY, AND IRREVOCABLY WAIVE THE RIGHT TO TRIAL BY JURY IN ANY LEGAL ACTION, PROCEEDING, CLAIM, OR COUNTERCLAIM BROUGHT BY EITHER OF THEM AGAINST THE OTHER ON ALL MATTERS ARISING OUT OF OR RELATED TO THIS VALUE SHARE AGREEMENT OR THE USE AND OCCUPANCY OF THE REAL PROPERTY OR THE HOME.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) **Attorneys' Fees**. If any arbitration, action, or proceeding is instituted between the Option Parties arising from or related to this Value Share Agreement, the Option Party prevailing in such arbitration, action, or proceeding will be entitled to recover from the other Option Party all of its or their costs of arbitration, action, or proceeding, including, without limitation, attorneys' fees and costs as fixed by the court or arbitrator therein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. <u>INTERCHANGEABLE TERMS.</u> For purposes of all provisions within this Agreement and all attachments hereto, the following terms shall have the same meaning and shall be interchangeable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) "Option Payment" and "Value Share Payment".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) "Option Agreement" and "Value Share Agreement".

![](ex6-12_001.jpg)

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. <u>CHOICE OF LAW</u>. The laws of the State in which the Residence is located shall govern this Value Share Agreement, without regard to such State's conflicts of law principles. Resident hereby knowingly, intentionally, and irrevocably agrees that Acre may bring any action or claim to enforce or interpret the provisions of this Value Share Agreement in the State and County where the Real Property is located, and that Resident irrevocably consents to personal jurisdiction in such State for the purposes of any such action or claim. Nothing in this Section shall be deemed to preclude or prevent Acre from bringing any action or claim to enforce or interpret the provisions of this Value Share Agreement in any other appropriate place or forum. Resident further agrees that any action or claim brought by Resident to enforce or interpret the provisions of this Value Share Agreement, or otherwise arising out of or related to this Value Share Agreement or to Resident's use and occupancy of the Residence, regardless of the theory of relief or recovery and regardless of whether third parties are involved in the action, may only be brought in the State and County where the Real Property is located, unless otherwise agreed in writing by Acre prior to the commencement of any such action.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. <u>FORCE MAJEURE</u>. A force majeure event occurs if any Option Party cannot perform any of its obligations due to events beyond such party's control (except with respect to the obligations for payment of any charges that may be required to be paid by Resident under this Value Share Agreement), and in such cases the time provided for performing the applicable obligations will be extended by a period of time equal to the duration of the force majeure events. Events beyond Acre's or Resident's control include, but are not limited to, acts of God, war, civil commotion, terrorist acts, labor disputes, strikes, fire, flood or other casualty, shortages of labor or material, government regulation or restriction, waiting periods for obtaining governmental permits or approvals or inspections, or weather conditions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. <u>INTERPRETATION; JOINT AND SEVERAL LIABILITY</u>. In this Value Share Agreement (unless the context clearly requires another interpretation), the singular includes the plural and the plural includes the singular; words importing any gender include the other genders; and references to articles, sections (or subdivisions of sections) or exhibits are to those of this Value Share Agreement. If this Value Share Agreement is executed by more than one party as Resident, the obligations of such persons or entities will be joint and several.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. <u>ACRE NOTICE ADDRESSES</u>.

---

| | |
|:---|:---|
| Notice address for Acre for payments owed under this Value Share Agreement: | ACRE HOME OWNERSHIP HOLDINGS LLC<br> 212 West Main Street<br> Suite 200, PMB 203<br> Durham, North Carolina<br> 27701 Attention: Andrew<br> Toby Phone: 919-759-5756<br> Email: support@acrehomes.com |
| Notice address for Acre for non-payment matters: | ACRE HOME OWNERSHIP HOLDINGS LLC<br> 212 West Main Street<br> Suite 200, PMB 203<br> Durham, North Carolina<br> 27701 Attention: Andrew<br> Toby Phone: 919-759-5756<br> Email: support@acrehomes.com |
| &nbsp;&nbsp; Notice address for Resident: | *See the Basic Agreement Provisions, in theProperty Specific Agreement* |

---

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All notices or communications given or required to be given by any party to another party hereunder may be sent electronically, unless applicable law requires physical delivery, in which case any such notice will be sent both electronically and in writing, with such writing to be sent by United States certified or registered mail, postage prepaid, return receipt requested; nationally recognized commercial overnight courier; or delivered personally to the addresses set forth above. Each party will have the right from time to time to change the place notice is to be given under this Value Share Agreement by written notice thereof to the other party or parties hereto. Any written notice will be deemed given three (3) business days after the date it is mailed as provided in this Section, or upon the date delivery is made, if delivered by an approved courier (as provided above) or personally delivered, with the exception of any payment required of Resident hereunder, all of which payments will be deemed given only upon the physical receipt thereof by Acre.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13. <u>SEVERABILITY</u>. If any provision of this Value Share Agreement or the application of this Value Share Agreement shall, for any reason and to any extent, be invalid or unenforceable, neither the remainder of this Value Share Agreement nor the application of the provision to other persons, entities or circumstances shall be affected thereby, but instead shall be enforced to the maximum extent permitted by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14. <u>FURTHER ASSURANCES</u>. From and after the date of this Value Share Agreement, each Option Party agrees to do such things, perform such acts, and make, execute, acknowledge, and deliver such documents as may be reasonably necessary and customary to complete the transactions contemplated by this Value Share Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15. <u>TIME IS OF THE ESSENCE</u>. Time is of the essence of each and every provision of this Value Share Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16. <u>MODIFICATION</u>. The Option Parties hereby agree that this Value Share Agreement shall not be modified, changed, altered, or amended in any way except through a written amendment signed by all the parties hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17. <u>BROKERAGE COMMISSION</u>. Resident and Acre each acknowledges that, in conjunction with entering into this Value Share Agreement, neither Option Party has engaged a broker or finder or agreed to pay any broker or finder a commission or fee by reason of the sale and purchase contemplated by the Purchase Option. Resident and Acre each hereby agrees to indemnify, defend, and hold harmless the other party for, from and against any and all claims, losses, damages, costs or expenses of any kind or character arising out of or resulting from any agreement, arrangement or understanding made or alleged to have been made with any other broker or finder in connection with entering into this Value Share Agreement or the transaction contemplated hereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18. <u>ACKNOWLEDGEMENTS.</u> The Parties intend for this Value Share Agreement to be a purchase option, and, together with the Home Residency Agreement, intend for the relationship to be that of landlord-optioner and tenant-optionee. The Parties understand and acknowledge that this Value Share Agreement is not intended to be a mortgage, loan, or other financing arrangement. The Parties are executing this Value Share Agreement voluntarily and without any duress or undue influence. The parties have carefully read this Value Share Agreement and have asked any questions needed to understand its terms, consequences, and binding effect and fully understand them and have been given an executed copy. The parties have sought the advice of an attorney of their respective choice if so desired prior to signing this Value Share Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19. <u>COUNTERPARTS</u>. This Value Share Agreement may be executed in two or more original or electronic counterparts, each of which shall be deemed an original and all of which together shall constitute but one and the same instrument.

**RESIDENT HAS THE RIGHT TO CANCEL THIS VALUE SHARE AGREEMENT AT ANY TIME UNTIL MIDNIGHT OF THE THIRD BUSINESS DAY FOLLOWING EXECUTION OF THIS AGREEMENT OR DELIVERY OF THIS AGREEMENT, WHICHEVER OCCURS LAST.**

The parties have executed this Value Share Agreement as of the date first written above.

[Signature page]

![](ex6-12_001.jpg)

ACR-

**EXHIBIT "A"**

**VALUE SHARE AGREEMENT TERMINATION PAYMENT AMOUNTS**

*The following Table identifies the percentage amount of the End of Term Market Value which will be retained by Acre as consideration for Resident's termination of the Value Share Agreement.*

 

---

| | |
|:---|:---|
| **Original Term Year in Which Termination Notice Is Delivered** | **Termination Fee** |
| 1 | 4.0% |
| 2 | 3.0% |
| 3 | 2.0% |
| After Year 3 | 0.0% |

---

## Ex1Sa-6

**Exhibit 6.13**

---

| | |
|:---|:---|
| ![](ex6-13_001.jpg) | ACR-052871 |

---

**<u>VALUE SHARE TRANSFER AGREEMENT</u>**

**THIS VALUE SHARE TRANSFER AGREEMENT** is an agreement ("**Transfer Agreement**" or "**Agreement**"), dated as of <u>September 16, 2025</u>, by and between <u>Wahed Financial LLC</u> ("**Investor**") and ACRE HOME OWNERSHIP HOLDINGS LLC, a Delaware limited liability company ("**Acre**"). Each of Investor and Acre is sometimes hereinafter referred to individually as a "**Party**," and collectively as the "**Parties**."

**RECITALS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. Acre had previously entered into a Value Share Agreement with the Residents of the Real Property and of the Home located at <u>8820 Waynick Dr, Raleigh, 27617</u> (the Home and the Real Property are hereinafter called the "**Residence**"), dated <u>August 27, 2025</u> (such agreement is hereinafter called the "**Value Share Agreement**" and is incorporated by reference).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. Acre has the right to transfer its ownership in the Residence and in the Value Share Agreement to any person or entity, provided that such transferee agrees to assume all of Acre's rights and obligations under the Value Share Agreement and (provided Resident is not in default of any provision of the Value Share Agreement beyond any applicable notice and cure period as may be provided herein), to not disturb Resident's rights hereunder or in the Residence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. Resident has agreed that, in the event of any such transfer by Acre, Acre will automatically be released from all liability under this Value Share Agreement, and Resident agreed to look solely to Acre's transferee for the performance of Acre's obligations hereunder after the date of transfer, and the transferee will be deemed to have fully assumed and be liable for all obligations of this Value Share Agreement to be performed by Acre, and Resident will attorn to the transferee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. Acre is transferring or selling its ownership in the Residence to Investor, and concurrent with that transfer or sale, Investor has agreed to assume all of Acre's rights and obligations of the Value Share Agreement.

**NOW THEREFORE**, in consideration of the mutual covenants and conditions contained in this Value Share Transfer Agreement and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Acre and Investor agree that the foregoing recitals are true and correct and incorporated herein, and also agree as set forth below.

**AGREEMENT**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>TRANSFER OF VALUE SHARE AGREEMENT</u>.

Effective immediately Acre transfers all its rights and obligations under the Value Share Agreement to Investor. Investor fully assumes and is liable for all obligations of the Value Share Agreement. Acre is hereby released from all liability under the Value Share Agreement. In accordance with the terms of the Value Share agreement, Resident will look solely to Investor for the performance of Acre's obligations under the Value Share Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>INDEMNIFICATION</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) **Indemnification by Investor**. Investor agrees to indemnify, defend, and hold harmless Acre and Acre's officers, directors, members, managers, partners, shareholders, employees, affiliates, agents and representatives from any liability, costs (including reasonable attorneys' fees), or claims arising from or related the Investor's obligations under the Value Share Agreement.

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| ![](ex6-13_001.jpg) | ACR-052871 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>SEVERABILITY</u>. If any provision of this Agreement or the application of this Agreement shall, for any reason and to any extent, be invalid or unenforceable, neither the remainder of this Agreement nor the application of the provision to other persons, entities or circumstances shall be affected thereby, but instead shall be enforced to the maximum extent permitted by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>FURTHER ASSURANCES</u>. From and after the date of this Agreement, each Party agrees to do such things, perform such acts, and make, execute, acknowledge, and deliver such documents as may be reasonably necessary and customary to complete the transactions contemplated by this Value Share Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>TIME IS OF THE ESSENCE</u>. Time is of the essence of each and every provision of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>MODIFICATION</u>. The Parties hereby agree that this Agreement shall not be modified, changed, altered, or amended in any way except through a written amendment signed by all the parties hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>COUNTERPARTS</u>. This Agreement may be executed in two or more original or electronic counterparts, each of which shall be deemed an original and all of which together shall constitute but one and the same instrument.

The parties have executed this Transfer Agreement as of the date first written above.

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|:---|:---|:---|:---|
| &nbsp;&nbsp;**ACRE:** | &nbsp;&nbsp;**ACRE:** | &nbsp;&nbsp;**INVESTOR:** | &nbsp;&nbsp;**INVESTOR:** |
| &nbsp;&nbsp;Acre Home Ownership Holdings LLC, a Delaware limited liability company | &nbsp;&nbsp;Acre Home Ownership Holdings LLC, a Delaware limited liability company |  |  |
| &nbsp;&nbsp;By: Acre Home Ownership Fund LP, it's managing member | &nbsp;&nbsp;By: Acre Home Ownership Fund LP, it's managing member |  |  |
| &nbsp;&nbsp;By: | /s/ Michael Schneider | &nbsp;&nbsp;By: | /s/ Ahmar Shaikh |
| &nbsp;&nbsp;Name: | Michael Schneider | &nbsp;&nbsp;Name: | Ahmar Shaikh |
| &nbsp;&nbsp;Title: | Manager | &nbsp;&nbsp;Title: | CEO, Wahed Financial LLC |

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