Document:

exv4w4

 

Exhibit 4.4

PERFORMANCE HOME BUYERS, LLC

SENIOR SECURED RENEWABLE NOTE SUBSCRIPTION AGREEMENT

To purchase a senior secured renewable note(s), please complete this form and write a check made
payable to PERFORMANCE HOME BUYERS, LLC (“PHB”). Send this form along with your check and any
other documents requested below to the selling agent for the notes, SUMNER HARRINGTON LTD., 11100
WAYZATA BOULEVARD, SUITE 170, MINNEAPOLIS, MN 55305. If you have any questions, call the selling
agent for the notes, SUMNER HARRINGTON LTD., at 800-234-5777.

NOTE PURCHASE AMOUNT (minimum principal amount of $1,000 per note)

	 	 	 	 

	 	 	INTEREST PAYMENT SCHEDULE (please select one for each note)
	 
	 	 	 	 
	 	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Note Term	 	Principal Amount	 	Monthly*	 	Quarterly	 	Semi-Annually	 	Annually	 	Maturity
	Three Month
	 	$	 	 	 	[   ]	 	[   ]	 	N/A	 	N/A	 	[   ]
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Six Month
	 	$	 	 	 	[   ]	 	[   ]	 	[   ]	 	N/A	 	[   ]
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	One Year
	 	$	 	 	 	[   ]	 	[   ]	 	[   ]	 	[   ]	 	[   ]
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Two Year
	 	$	 	 	 	[   ]	 	[   ]	 	[   ]	 	[   ]	 	[   ]
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Three Year
	 	$	 	 	 	[   ]	 	[   ]	 	[   ]	 	[   ]	 	[   ]
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Four Year
	 	$	 	 	 	[   ]	 	[   ]	 	[   ]	 	[   ]	 	[   ]
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Five Year
	 	$	 	 	 	[   ]	 	[   ]	 	[   ]	 	[   ]	 	[   ]
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Ten Year
	 	$	 	 	 	[   ]	 	[   ]	 	[   ]	 	[   ]	 	[   ]
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	TOTAL	 	$	 	 	 	*Monthly payment date (e.g. 1st, 15th, etc.)
	 	 	 	 	 	 	 	 	 	 	 	 	 

FORM OF OWNERSHIP (please select one)

	 	 	 
	[ ] Individual Investor (with optional beneficiary)

	 	[ ] Custodian for a Minor
	 
	 	 
	[ ] Joint Tenants with Right of Survivorship

	 	[ ] Other IRA, SEP, 401(k), 403(b), Keogh, trust, corporation, partnership, etc.
(Please include with this form a trust
resolution or the appropriate corporation or
partnership documents authorizing you to make
this investment.)

NOTE PURCHASER (please circle one)

Full Name of Individual Investor/First Joint Tenant/Minor/Entity/Administrator/Trustee

	 	 	 	 	 	 	 	 	 
	 
	First Name

	 	Middle name
	 	Last name
	 	Social Security Number/Tax ID Number
	 	Date of Birth (if applicable)

Full Name of Beneficiary/Second Joint Tenant/Custodian (please circle one if applicable)

	 	 	 	 	 	 	 	 	 
	 
	First Name

	 	Middle name
	 	Last name
	 	Social Security Number/Tax ID Number
	 	Date of Birth (not required for custodians)

Name(s) and Relationship of other Family PHB Note Investors                                                                                                    

PRIMARY ADDRESS (Original correspondence will be sent to this address.)

 

Individual Investor, IRA Administrator, Trustee, Custodian, Partnership, etc.

 

Address

	 	 	 	 	 
	 
	City

	 	State
	 	Zip

	 	 	 
	 
	Daytime Phone (Include Area Code)

	 	E-mail Address

 

 

SECONDARY ADDRESS (Optional—copies of correspondence will be sent to this address.)

 

Beneficiary, IRA Owner, Joint Tenant, Partner, etc.

 

Address

	 	 	 	 	 
	 
	City

	 	State
	 	Zip

	 	 	 
	 
	Daytime Phone (Include Area Code)

	 	E-mail Address

DIRECT DEPOSIT PHB will electronically deposit your principal and interest payments directly into
the account listed in the Direct Deposit section on the reverse side of this form. Please complete
and sign the reverse side of this form for automatic deposit to either your checking or savings
account.

PASSWORD When you call Sumner Harrington to discuss your investment, you may be asked to verify
your identification by answering the following question.

What is your mother’s maiden name?                                                                                                                                            

CERTIFICATION Under penalties of perjury, I hereby declare and certify that: (i) I am a bona fide
resident of the state listed in the primary mailing address; (ii) I have received and read the
prospectus provided by Performance Home Buyers, LLC and understand the risks related to the notes
and to Performance Home Buyers, LLC; (iii) Sumner Harrington Ltd. has neither recommended this
investment to me nor given me investment, legal or tax advice regarding the notes and the
creditworthiness of Performance Home Buyers, LLC; (iv) I have independently determined that this
investment is suitable for me without relying on such advice from Sumner Harrington Ltd.; (v) the
notes are illiquid due to significant transfer restrictions and the lack of a secondary market;
(vi) I risk the loss of my entire principal amount and all accrued but unpaid interest when
purchasing the notes and have the financial ability to withstand these losses; (vii) I am
purchasing the notes to fulfill my investment objective of earning current taxable interest income;
(viii) the social security number or tax identification number listed above is correct; and (ix) I
am not subject to backup withholding, either because the Internal Revenue Service has not notified
me that I am subject to backup withholding as a result of a failure to report all interest or
dividends or I have been notified that I am no longer subject to backup withholding. I understand
that my purchase offer is subject to the terms contained in the prospectus, may be rejected in
whole or in part and will not become effective until accepted by Performance Home Buyers, LLC or
its selling agent.

	 	 	 	 	 	 	 
	 

	 	 	 	 
	Signature of Individual Investor/First Joint Tenant/Custodian/Authorized Person

	Date	 	 	Signature of Second Joint Tenant (if applicable)	Date	 

(Please complete reverse side)

Office Use Only       ACTP_________       ACTP_________       DATE_________

 

 

DIRECT DEPOSIT

Direct Deposit Information (please check one)

	 	 	 
	[ ]

	 	I currently receive direct deposit payments from
an existing PHB note. Please deposit all
principal and interest payments for this new
note
	 
	 	 
	[ ]

	 	Please deposit my payments into the account
listed below. (If this option is chosen, the
account owner must attached to the bottom of
this form either a VOIDED check, if this is a
checking account, or a deposit slip, if this is
a savings account.

	 	 	 	 	 	 	 	 	 
	 
	Account Owner Name(s)
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	[ ] Checking
	 	[ ] Savings
	 	[ ] Other	 	 
	 

Account Number

	 	 	 	 	 	 	 	 

	 	 	 	 	 
	 

	 	 
	 	 
	Bank Routing Number (9 digits)

	 	Bank Name
	 	Brach Location

Some financial institutions (e.g. brokerage firms, custodians, mutual savings banks, credit unions,
money market funds, etc.) also require “for further credit” information to correctly identify
direct deposit accounts. If your financial institution requires this additional information,
please list it below. If you are unsure if this additional information is required, please call
your financial institution.

For further credit:______________________________________________________________________________________

Direct Deposit Authorization

As the investor of record and authorized signatory of the account listed above, I hereby authorize
Performance Home Buyers, LLC, its affiliates, or its agents (collectively referred to hereinafter
as “PHB”) to deposit interest and principal payments owed to me, by initiating credit entries in
the account to my financial institution listed on this Form. Further, I authorize my financial
institution to accept and to credit any credit entries initiated by PHB to the listed account. In
the event of an erroneous credit entry, I also authorize PHB to debit the account for an amount not
to exceed the original amount of the erroneous credit.

This authorization is to remain in full force and effect until PHB and my financial institution
have received written notice from me of its termination in such time and in such manner as to
afford PHB and my financial institution reasonable opportunity to act on it. In the event the
listed account is closed, I will promptly notify PHB of an alternate account into which payments
can be made.

	 	 	 
	 

	 	 
	Authorized Signature

	 	          Date

Mail to:

SUMNER HARRINGTON LTD.

11100 Wayzata Boulevard

Suite 170

Minneapolis, Minnesota 55305

ATTACH VOIDED CHECK or DEPOSIT SLIP HEREexv10w1

 

Exhibit 10.1 

AMENDED AND RESTATED

MANAGEMENT AGREEMENT

BETWEEN

PERFORMANCE HOME BUYERS, LLC

AND

PERFORMANCE HOME BUYERS, INC.

     THIS AGREEMENT is hereby entered into as of October 31, 2005 by and between Performance Home
Buyers, LLC, an Ohio limited liability company (the “Company”), and Performance Home Buyers, Inc.,
an Ohio corporation (the “Manager”).

     WHEREAS, the Company and the Manager had entered into the Management Agreement dated effective
January 1, 2003 (“First Agreement”).

     WHEREAS, the parties would like to revise and restate the First Agreement in full to make the
agreement between the parties more clear.

NOW, THEREFORE, in consideration of the mutual covenants contained herein, the sufficiency of which
is hereby acknowledged, the parties hereto agree to revise and restate in full the First Agreement
as follows:

	 	1.	 	Duties. The Manager will act as the Company’s manager by handling the
Company’s day-to-day operations and providing administrative services on the Company’s
behalf.

	 	a.	 	The services which the Manager will provide the Company shall
include, but not be limited to the following:

	 	i.	 	maintaining the books and records on the
Company’s behalf regarding the Company’s business and properties;
	 
	 	ii.	 	acting as liaison between the Company and
purchasers and renters of the Company’s properties and handling
issues regarding payments, insurance claims, cancellation of land
contracts or lease-to-purchase agreements and repossession;
	 
	 	iii.	 	advertising and marketing the Company’s
services;
	 
	 	iv.	 	locating new properties to purchase;
	 
	 	v.	 	handling the purchase of such properties on
the Company’s behalf;
	 
	 	vi.	 	handling the rehabilitation of such
properties;
	 
	 	vii.	 	collecting payments of principal, interest,
taxes and insurance from purchasers under land contracts or contracts
for deed;
	 
	 	viii.	 	collecting rent payments from tenants
under lease-to-purchase agreements;
	 
	 	ix.	 	obtaining bank loans to refinance the
properties on the Company’s behalf;
	 
	 	x.	 	making payments to the Company’s creditors,
including payment of interest and principal on bank loans, on the
Company’s behalf;

 

 

	 	xi.	 	assisting purchasers to obtain permanent
financing;
	 
	 	xii.	 	providing other counseling services to
purchasers;
	 
	 	xiii.	 	making distribution payments to the
Company’s membership interest unit holders;
	 
	 	xiv.	 	preparing and filing all accounting, tax
and financial reports;
	 
	 	xv.	 	preparing applicable tax reports and
documents for each member of the Company including the partnership
returns and related K-1s;
	 
	 	xvi.	 	making payments of taxes and insurance
premiums on the Company’s behalf; and
	 
	 	xvii.	 	obtaining other forms of financing on the
Company’s behalf.

	 	b.	 	The Manager agrees that when a land contract is refinanced by
the purchaser with permanent financing from a third-party or pays the full
purchase price of the property under the land contract, the proceeds received
by the Manager on behalf of the Company will be used first to repay in full the
Company’s bank loan on such property.
	 
	 	c.	 	Except as provided in the Company’s Amended and Restated
Operating Agreement or Section 1(b) above, all decisions affecting the
Company’s affairs will be made by the Manager.

	2.	 	Compensation. The Company will pay the Manager a bi-monthly management
fee equal to the Manager’s expenses incurred on the Company’s behalf, including
employee payroll and benefits for those employees of the Manager who provide services
on behalf of the Company as well as all tax liability and operating expenses.
	 
	3.	 	Term. This Agreement shall continue until terminated by the Company
upon a vote of the holders of at least a majority of the issued and outstanding common
units of membership interest of the Company.
	 
	4.	 	Waiver, Modification or Amendment. No waiver, modification or
amendment of any term, condition or provision of this Agreement shall be valid or of
any effect unless made in writing, signed by the party to be bound or its duly
authorized representative and specifying with particularity the nature and extent of
such waiver, modification or amendment. Any waiver by any party of any default of the
other shall not effect, or impair any right arising from, any subsequent default.
	 
	5.	 	Assignment. The Manager acknowledges that the Manager’s services are
unique and personal. Accordingly, the Manager may not assign the Manager’s rights or
delegate the Manager’s duties or obligations under this Agreement unless the Company
agrees to such assignment in writing. The Company’s rights and obligations under this
Agreement shall inure to the benefit of and shall be binding on the Company’s
successors and assigns.
	 
	6.	 	Entire Agreement. This Agreement, including any documents expressly
referred to herein, contains the entire agreement between the Manager and the Company
and supersedes and cancels any and all other agreements, whether oral or in

 

 

writing, between the Manager and the Company with respect to the matters referred to herein.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first
above written.

	 	 	 	 	 	 	 
	 	 	COMPANY:	 	 
	 
	 	 	 	 	 	 
	 	 	Performance Home Buyers, LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Wayne Hawkins
 

	 	 
	 

	 	Its:
	 	Chief Operating Officer	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	MANAGER:	 	 
	 	 	Performance Home Buyers, Inc.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Paul Quolke	 	 
	 

	 	 	 	 	 	 
	 

	 	Its:
	 	Vice President

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00093-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00093-of-00352.parquet"}]]