Document:

EXHIBIT 4.9

                          CONSULTING SERVICES AGREEMENT

CONSULTING  SERVICES AGREEMENT (this "Agreement") is entered into as of February
12,  2004  by  and  between  MaxxZone.com,   Inc.,  a  Nevada  corporation  (the
"Company"), and Victor Romero (the "Consultant").

                                    RECITALS

         A. The Company desires to be assured of the association and services of
Consultant and to avail itself of Consultant's  experience,  skills,  abilities,
knowledge and background and is therefore  willing to engage Consultant upon the
terms and conditions set forth herein; and

         B. Consultant agrees to be engaged and retained by the Company upon the
terms and conditions set forth herein.

                                    AGREEMENT

         NOW,  THEREFORE,  in  consideration  of the premises and the covenants,
agreements  and  obligations  set forth  herein and for other good and  valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereby covenant and agree as follows:

         1. CONSULTING SERVICES. Consultant shall, on a part-time basis, provide
transitional  management and  administrative  and asset transfer services to the
Company (the "Consulting Services").

         2.  TERM.  The term of this  Agreement  shall  commence  as of the date
hereof and shall be effective a period of one year (the "Term").  This agreement
may be extended under the same terms by mutual agreement between  Consultant and
the Company.

         3. DIRECTION,  CONTROL AND  COORDINATION.  Consultant shall perform the
Consulting  Services  under  the sole  direction  and with the  approval  of the
Company's Board of Directors or an officer of the Company to whom such direction
is delegated by resolution of the Board of Directors.

         4.  DEDICATION  OF  RESOURCES.   Consultant  shall  devote  such  time,
attention  and energy as is  necessary to perform and  discharge  the duties and
responsibilities   under  this  Agreement  in  an  efficient,   trustworthy  and
professional manner.

         5. STANDARD OF  PERFORMANCE.  Consultant  shall use its best reasonable
efforts to perform  its  consulting  services as an advisor to the Company in an
efficient,  trustworthy and  professional  manner.  Consultant shall perform its
consulting  services  to  the  sole  satisfaction  of,  and in  conjunction  and
cooperation with, the Company.

         6.  COMPENSATION.  The Company  shall pay to Consultant a total of nine
million  (9,000,000)  shares of common stock of the Company (the "Common Stock")
in exchange  for the  Consulting  Services.  The Company  shall issue  5,850,000
shares of the Common Stock to the

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Consultant  upon  the  execution  of  this  Agreement  by both  parties  to this
Agreement.  The Company hereby covenants that it shall issue 3,150,000 shares of
the  Common  Stock to the  Consultant  promptly  upon the  effectiveness  of the
Company amending its Articles of Incorporation to authorize the Company to issue
a  sufficient  number  of  shares  of  Common  Stock so that it may  issue  such
3,150,000 shares of the Common Stock to the Consultant.

         7. REGISTRATION OF THE COMMON STOCK. Commencing on the date hereof, the
Company  shall use its best  efforts  to  promptly  register  the  Common  Stock
pursuant to the Securities  Act of 1933, as amended,  on Securities and Exchange
Commission ("SEC") Form S-8. Consultant hereby covenants that if he or she is or
becomes a director,  officer,  holder of ten percent  (10%) of the equity and/or
voting  securities  of the  Company,  or is, or  becomes an  "affiliate"  of the
Company (for the purposes of this Agreement, "affiliate" shall mean an affiliate
of, or person  affiliated with, a specified person that directly,  or indirectly
through one or more  intermediaries,  controls or is controlled  by, or is under
common control with, the person specified),  he or she will not offer to sell or
resell  the  Common  Shares  registered  on Form  S-8,  except  pursuant  to the
provisions of SEC Rule 144, pursuant to a reoffer  prospectus in compliance with
Form S-8 or  pursuant to such other  registration  statement  acceptable  to the
Company in its sole discretion.

         8. KNOWLEDGE OF INVESTMENT AND ITS RISKS.  Consultant has knowledge and
experience in financial and business  matters as to be capable of evaluating the
merits and risks of  Consultant's  investment  in the Common  Stock.  Consultant
understands  that an investment in the Company  represents a high degree of risk
and there is no assurance  that the  Company's  business or  operations  will be
successful.  Consultant  has  considered  carefully  the risks  attendant  to an
investment in the Company, and that, as a consequence of such risks,  Consultant
could lose Consultant's entire investment in the Company.

         9. INVESTMENT  INTENT.  Consultant  hereby represents and warrants that
(i) it is acquiring the Common Stock for  investment  for the  Consultant's  own
account,  not as a  nominee  or  agent  and  not  with a view to the  resale  or
distribution  of all or any part of the  Common  Stock,  and  Consultant  has no
present  intention  of  selling,  granting  any  participation  in or  otherwise
distributing any of the Common Stock within the meaning of the Securities Act of
1933, as amended (the  "Securities  Act") and (ii)  Consultant does not have any
contracts,  understandings,  agreements or  arrangements  with any person and/or
entity to sell,  transfer or grant  participations to such person and/or entity,
with respect to any of the Common Stock.

         10. ACCREDITED INVESTOR. The Consultant is an "Accredited Investor," as
that  term  is  defined  by Rule  501 of  Regulation  D  promulgated  under  the
Securities Act.

          11. DISCLOSURE.  Consultant has reviewed  information  provided by the
Company in  connection  with the  decision  to  purchase  the  Stock,  including
Consultant's  publicly-available  filings with the SEC. The Company has provided
Consultant with all the information  that Consultant has requested in connection
with the decision to purchase the Common Stock.  Consultant  further  represents
that Consultant has had an opportunity to ask questions and receive answers from
the  Company  regarding  the  business,  properties,   prospects  and  financial
condition  of the Company.  All such  questions  have been  answered to the full
satisfaction of Consultant.

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         12.  NO  REGISTRATION.  Consultant  understands  that it must  bear the
economic risk of its investment in the Company for an indefinite period of time.
Consultant further understands that (i) neither the offering nor the sale of the
Common Stock has been  registered  under the  Securities  Act or any  applicable
state  securities laws or securities laws of other  applicable  jurisdictions in
reliance upon exemptions from the  registration  requirements of such laws, (ii)
the Common  Stock  must be held by  Consultant  indefinitely  unless the sale or
transfer  thereof is  subsequently  registered  under the Securities Act and any
applicable  state  securities  laws,  or an  exemption  from  such  registration
requirements is available,  (iii) Section 7 notwithstanding,  the Company is not
hereby under an obligation  to register any of the Common Stock on  Consultant's
behalf  or  to  assist   Consultant  in  complying   with  any  exemption   from
registration,  and  (iv)  Consultant  will  rely  upon the  representations  and
warranties  made by the Company in this  Agreement  in order to  establish  such
exemptions  from  the  registration  requirements  of  the  Securities  Act  and
applicable  state  securities  laws  or  securities  laws  of  other  applicable
jurisdictions.

         13.  TRANSFER  RESTRICTIONS.  Consultant  will not  transfer any of the
Common  Stock  unless  such  transfer  is  exempt  from  registration  under the
Securities Act and applicable  state securities laws or securities laws of other
applicable  jurisdictions,  and, if  requested by the  Company,  Consultant  has
furnished an opinion of counsel  satisfactory  to the Company that such transfer
is so exempt.  Consultant  understands  and agrees that (i) the  certificate  or
certificates   evidencing  the  Common  Stock  will  bear  appropriate   legends
indicating  such transfer  restrictions  placed upon the Common Stock,  (ii) the
Company shall have no  obligation to honor  transfers of any of the Common Stock
in  violation  of such  transfer  restrictions,  and (iii) the Company  shall be
entitled to instruct  any  transfer  agent or agents for the  securities  of the
Company to refuse to honor such transfers.

         14. LEGENDS. Consultant understands that certificates or other evidence
of the Common Stock may bear a legend substantially similar to the following:

THE SHARES  REPRESENTED BY THIS  CERTIFICATE  HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED. THE SHARES HAVE BEEN ACQUIRED FOR INVESTMENT
AND MAY NOT BE  OFFERED,  SOLD OR  OTHERWISE  TRANSFERRED  IN THE  ABSENCE OF AN
EFFECTIVE REGISTRATION STATEMENT WITH RESPECT TO THE SHARES OR AN EXEMPTION FROM
THE REGISTRATION REQUIREMENTS OF SAID ACT THAT IS THEN APPLICABLE TO THE SHARES,
AS TO WHICH THE PRIOR  OPINION  OF  COUNSEL  MAY BE  REQUIRED  BY THE  ISSUER OR
ISSUER'S TRANSFER AGENT.

         15. ADDITIONAL COVENANTS. Consultant covenants that it shall not engage
in any activities  which are in connection  with the offer or sale of securities
of the  Company in a  capital-raising  transaction  or  directly  or  indirectly
promote or maintain a market for the Company's securities.

         16. CONFIDENTIAL  INFORMATION.  Consultant  recognizes and acknowledges
that by reason of performance of Consultant's services and duties to the Company
(both  during  the Term and  before  or after  it)  Consultant  has had and will
continue  to have  access to  confidential  information  of the  Company and its
affiliates, including, without limitation,  information and knowledge pertaining
to products and  services  offered,  inventions,  innovations,  designs,  ideas,
plans, trade

<PAGE>

secrets,  proprietary information,  advertising,  distribution and sales methods
and  systems,  and  relationships  between the Company  and its  affiliates  and
customers,  clients,  suppliers and others who have  business  dealings with the
Company and its affiliates ("Confidential Information"). Consultant acknowledges
that such Confidential  Information is a valuable and unique asset and covenants
that it will not,  either  during or for three (3) years  after the term of this
Agreement,  disclose  any such  Confidential  Information  to any person for any
reason  whatsoever or use such  Confidential  Information  (except as its duties
hereunder may require)  without the prior written  authorization of the Company,
unless  such  information  is in the  public  domain  through  no  fault  of the
Consultant or except as may be required by law. Upon the Company's request,  the
Consultant   will  return  all  tangible   materials   containing   Confidential
Information to the Company.

         17.  RELATIONSHIP.  This  agreement  does not create,  and shall not be
construed to create, any joint venture or partnership  between the parties,  and
may not be construed as an employment agreement.  No officer,  employee,  agent,
servant, or independent contractor of Consultant nor its affiliates shall at any
time be deemed to be an employee,  agent,  servant, or broker of the Company for
any purpose  whatsoever  solely as a result of this  Agreement,  and  Consultant
shall  have no  right or  authority  to  assume  or  create  any  obligation  or
liability,  express or implied,  on the Company's behalf, or to bind the Company
in any manner or thing whatsoever.

         18.  NOTICES.  Any notice  required  or desired to be given  under this
Agreement  shall  be in  writing  and  shall be  deemed  given  when  personally
delivered,  sent by an  overnight  courier  service,  or sent  by  certified  or
registered  mail to the following  addresses,  or such other address as to which
one party may have notified the other in such manner:

If to the Company:                  MaxxZone.com, Inc.
                                    1770 N. Green Valley Parkway
                                    Henderson, Nevada 89014

If to the Consultant:               Victor Romero

                                    -----------------------

                                    -----------------------

         19.  APPLICABLE  LAW. The validity,  interpretation  and performance of
this Agreement  shall be controlled by and construed under the laws of the State
of Washington.

         20.  SEVERABILITY.  The invalidity or unenforceability of any provision
hereof  shall in no way  affect  the  validity  or  enforceability  of any other
provisions of this Agreement.

         21.  WAIVER OF BREACH.  The  waiver by either  party of a breach of any
provision of this  Agreement by the other shall not operate or be construed as a
waiver of any subsequent  breach by such party.  No waiver shall be valid unless
in writing and signed by an authorized officer of the Company or Consultant.

         22. ASSIGNS AND  ASSIGNMENT.  This Agreement  shall extend to, inure to
the  benefit  of and be binding  upon the  parties  hereto and their  respective
permitted successors and assigns; provided, however, that this Agreement may

<PAGE>

not be assigned or  transferred,  in whole or in part, by the Consultant  except
with the prior written consent of the Company.

         23. ENTIRE AGREEMENT.  This Agreement contains the entire understanding
of the parties with respect to its subject matter.  It may not be changed orally
but only by an agreement in writing signed by the party against whom enforcement
of any waiver, change, modification, extension, or discharge is sought.

         24.  COUNTERPARTS.  This  Agreement may be executed by facsimile and in
counterparts  each of which shall constitute an original  document,  and both of
which together shall constitute the same document.

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

         The Company:                       MAXXZONE.COM, INC.

                                            By:
                                                -------------------------------
                                                Name:  Victor Romero
                                                Title:  Attorney-in-Fact

         The Consultant:

                                            By:
                                                -------------------------------
                                                Name:  Victor RomeroEXHIBIT 4.1

                              LTC PROPERTIES, INC.
                       ARTICLES SUPPLEMENTARY CLASSIFYING
                               4,000,000 SHARES OF
                     8% SERIES F CUMULATIVE PREFERRED STOCK

     LTC Properties, Inc., a Maryland corporation (the "Company"), certifies to
the Maryland State Department of Assessments and Taxation (the "Department")
that:

     FIRST: Pursuant to the authority expressly vested in the Board of Directors
of the Company by Article SEVENTH of the Company's Articles of Amendment and
Restatement filed with the Department on August 3, 1992, as amended and
supplemented (the "Charter"), and Section 2-105 of the Maryland General
Corporation Law ("MGCL"), the Board of Directors has, by unanimous written
consent dated February 17, 2004, adopted resolutions classifying and designating
a separate series of authorized but unissued Preferred Stock (as defined in the
Charter) to consist of a maximum of 4,000,000 shares of Preferred Stock, setting
certain of the preferences, conversion and other rights, voting powers,
restrictions, qualifications and terms and conditions of redemption of such
separate series of Preferred Stock, providing for the issuance of a maximum of
4,000,000 shares of such series of Preferred Stock and, pursuant to the powers
contained in the bylaws of the Company (the "Bylaws") and the MGCL, appointing a
committee (the "Preferred Stock Terms Committee") of the Board of Directors and
delegating to the Preferred Stock Terms Committee, to the fullest extent
permitted by Maryland law and the Charter and Bylaws of the Company, all powers
of the Board of Directors with respect to classifying, designating and setting
of the preferences, conversion and other rights, voting powers, restrictions,
limitations as to dividends and other distributions, qualifications and terms
and conditions of redemption of such series of Preferred Stock and determining
the number of shares of such series of Preferred Stock (not in excess of the
aforesaid maximum number) to be classified and issued and the price and other
terms and conditions upon which shares of such series of Preferred Stock are to
be offered, sold and issued.

     SECOND: Pursuant to the authority conferred upon the Preferred Stock Terms
Committee as aforesaid, the Preferred Stock Terms Committee has, by unanimous
written consent, duly adopted resolutions classifying 4,000,000 shares of
authorized but unissued Preferred Stock as the aforesaid series of Preferred
Stock, designating such series as "8% Series F Cumulative Preferred Stock",
setting the preferences, conversion and other rights, voting powers,
restrictions and limitations as to dividends, qualifications and terms and
conditions of redemption of such 8% Series F Cumulative Preferred Stock (to the
extent not set by the Board of Directors in the resolutions referred to in
Article FIRST of these Articles Supplementary) and authorizing the issuance of
up to 4,000,000 shares of 8% Series F Cumulative Preferred Stock.

     THIRD: The series of Preferred Stock of the Company created by the
resolutions duly adopted by the Board of Directors of the Company and by the
Preferred Stock Terms Committee and referred to in Articles FIRST and SECOND of
these Articles Supplementary shall have the following designation, number of
shares, preferences, conversion and other rights, voting powers, restrictions
and limitations as to dividends, qualifications, terms and conditions of
redemption and other terms and conditions which, upon any restatement of the
Charter, shall be made a part of Article SEVENTH of the Charter, with any
necessary or appropriate changes to the enumeration or lettering of sections or
subsections thereof:

                                       1
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1.   Designation and Number. A series of Preferred Stock, designated the "8%
     Series F Cumulative Preferred Stock" (the "Series F Preferred Stock"), is
     hereby established. The number of shares of the Series F Preferred Stock
     shall be 4,000,000.

2.   Maturity. The Series F Preferred Stock has no stated maturity and will not
     be subject to any sinking fund or mandatory redemption.

3.   Rank. The Series F Preferred Stock will, with respect to dividend rights
     and rights upon liquidation, dissolution or winding up of the Company, rank
     (i) senior to all classes or series of Common Stock of the Company, the
     Series D Junior Participating Preferred Stock and to all equity securities
     ranking junior to the Series F Preferred Stock with respect to dividend
     rights or rights upon liquidation, dissolution or winding up of the
     Company; (ii) on a parity with the 9.5% Series A Cumulative Preferred Stock
     ("Series A Preferred Stock"), the 9.0% Series B Cumulative Preferred Stock
     ("Series B Preferred Stock"), the 8.5% Series C Cumulative Convertible
     Preferred Stock ("Series C Preferred Stock"), and the 8.5% Series E
     Cumulative Convertible Preferred Stock ("Series E Preferred Stock"), and
     with all equity securities issued by the Company the terms of which
     specifically provide that such equity securities rank on a parity with the
     Series F Preferred Stock with respect to dividend rights or rights upon
     liquidation, dissolution or winding up of the Company; and (iii) junior to
     all existing and future indebtedness of the Company. The term "equity
     securities" does not include convertible debt securities, which will rank
     senior to the Series F Preferred Stock prior to conversion.

4.   Dividends.

     (a)  Holders of shares of the Series F Preferred Stock are entitled to
          receive, when and as declared by the Board of Directors, out of funds
          legally available for the payment of dividends, preferential
          cumulative cash dividends at the rate of 8% per annum of the
          Liquidation Preference (as defined below) per share (equivalent to a
          fixed annual amount of $2.00 per share). Dividends on the Series F
          Preferred Stock shall be cumulative from the date of original issue
          and shall be payable quarterly in arrears on or before the 15th day of
          April, July, October and January of each year, or, if not a business
          day, the next succeeding business day (each, a "Dividend Payment
          Date"). The first dividend, which will be paid on April 15, 2004, will
          be for less than a full quarter. Such dividend and any dividend
          payable on the Series F Preferred Stock for any partial dividend
          period will be computed on the basis of a 360-day year consisting of
          twelve 30-day months. Dividends will be payable to holders of record
          as they appear in the stock records of the Company at the close of
          business on the applicable record date, which shall be the last day of
          the calendar month first preceding the applicable Dividend Payment
          Date, or on such other date designated by the Board of Directors of
          the Company for the payment of dividends that is not more than 30 nor
          less than 10 days prior to such Dividend Payment Date (each, a
          "Dividend Record Date"). Notwithstanding any provision to the contrary
          contained herein, each outstanding share of Series F Preferred Stock
          shall be entitled to receive, and shall receive, a dividend with
          respect to each Dividend Record Date equal to the dividend paid with
          respect to each other share of Series F Preferred Stock which is
          outstanding on such Dividend Record Date.

                                       2
<PAGE>

     (b)  No dividends on shares of Series F Preferred Stock shall be declared
          by the Board of Directors or paid or set apart for payment by the
          Company at such time as the terms and provisions of any agreement of
          the Company, including any agreement relating to its indebtedness,
          prohibits such declaration, payment or setting apart for payment or
          provides that such declaration, payment or setting apart for payment
          would constitute a breach thereof or a default thereunder, or if such
          declaration or payment shall be restricted or prohibited by law.

     (c)  Notwithstanding the foregoing, dividends on the Series F Preferred
          Stock will accrue whether or not the Company has earnings, whether or
          not there are funds legally available for the payment of such
          dividends and whether or not such dividends are declared. Accrued but
          unpaid dividends on the Series F Preferred Stock will not bear
          interest and holders of the Series F Preferred Stock will not be
          entitled to any distributions in excess of full cumulative
          distributions described above. Except as set forth in the next
          sentence, no dividends will be declared or paid or set apart for
          payment on any capital stock of the Company or any other series of
          Preferred Stock ranking, as to dividends, on a parity with or junior
          to the Series F Preferred Stock (other than a dividend in shares of
          the Company's Common Stock or in shares of any other class of stock
          ranking junior to the Series F Preferred Stock as to dividends and
          upon liquidation) for any period unless full cumulative dividends have
          been or contemporaneously are declared and paid or declared and a sum
          sufficient for the payment thereof is set apart for such payment on
          the Series F Preferred Stock for all dividend periods ending prior to
          or on the most recent past Dividend Payment Date. When dividends are
          not paid in full for all such dividend periods (or a sum sufficient
          for such full payment is not so set apart) upon the Series F Preferred
          Stock and the shares of any other series of Preferred Stock ranking on
          a parity as to dividends with the Series F Preferred Stock, all
          dividends declared upon the Series F Preferred Stock and any other
          series of Preferred Stock ranking on a parity as to dividends with the
          Series F Preferred Stock shall be declared pro rata so that the amount
          of dividends declared per share of Series F Preferred Stock and such
          other series of Preferred Stock shall in all cases bear to each other
          the same ratio that accrued dividends per share on the Series F
          Preferred Stock and such other series of Preferred Stock (which shall
          not include any accrual in respect of unpaid dividends for prior
          dividend periods if such Preferred Stock does not have a cumulative
          dividend) bear to each other.

     (d)  Except as provided in the immediately preceding paragraph, unless full
          cumulative dividends on the Series F Preferred Stock have been or
          contemporaneously are declared and paid or declared and a sum
          sufficient for the payment thereof is set apart for payment for all
          dividend periods ending prior to or on the most recent past Dividend
          Payment Date, no dividends (other than in shares of Common Stock or
          other shares of capital stock ranking junior to the Series F Preferred
          Stock as to dividends and upon liquidation) shall be declared or paid
          or set aside for payment nor shall any other distribution be declared
          or made upon the Common Stock, or any other capital stock of the
          Company ranking junior to or on a parity with the Series F Preferred
          Stock as to dividends or upon liquidation, nor shall any shares of
          Common Stock, or any other shares of capital stock of the Company
          ranking junior to or on a parity with the Series F Preferred Stock as
          to dividends or upon liquidation be redeemed, purchased or otherwise
          acquired for any consideration (or any moneys be paid to or made
          available for a sinking fund for the redemption of any such shares) by
          the Company (except by conversion into or exchange for other capital
          stock of the Company ranking junior to the Series F Preferred Stock as
          to dividends and upon liquidation or redemptions for the purpose of
          preserving the Company's qualification as a REIT). Holders of shares
          of the Series F Preferred Stock shall not be entitled to any dividend,
          whether payable in cash, property or stock, in excess of full
          cumulative dividends on the Series F Preferred Stock as provided
          above. Any dividend payment made on shares of the Series F Preferred
          Stock shall first be credited against the earliest accrued but unpaid
          dividend due with respect to such shares which remains payable.

                                       3
<PAGE>

5.   Liquidation Preference. Upon any voluntary or involuntary liquidation,
     dissolution or winding up of the affairs of the Company, the holders of
     shares of Series F Preferred Stock are entitled to be paid out of the
     assets of the Company legally available for distribution to its
     stockholders a liquidation preference of $25 per share (the "Liquidation
     Preference"), plus an amount equal to any accrued and unpaid dividends to
     the date of payment, but without interest, before any distribution of
     assets is made to holders of Common Stock or any other class or series of
     capital stock of the Company that ranks junior to the Series F Preferred
     Stock as to liquidation rights. The Company will promptly provide to the
     holders of Series F Preferred Stock written notice of any event triggering
     the right to receive such Liquidation Preference. After payment of the full
     amount of the Liquidation Preference, plus any accrued and unpaid dividends
     to which they are entitled, the holders of Series F Preferred Stock will
     have no right or claim to any of the remaining assets of the Company. The
     consolidation or merger of the Company with or into any other corporation,
     trust or entity or of any other corporation with or into the Company, or
     the sale, lease or conveyance of all or substantially all of the property
     or business of the Company, shall not be deemed to constitute a
     liquidation, dissolution or winding up of the Company.

     In determining whether a distribution (other than upon voluntary or
involuntary liquidation) by dividend, redemption or other acquisition of shares
of stock of the Company or otherwise is permitted under the MGCL, no effect
shall be given to amounts that would be needed if the Company would be dissolved
at the time of the distribution, to satisfy the preferential rights upon
distribution of holders of shares of stock of the Company whose preferential
rights upon distribution are superior to those receiving the distribution.

6.   Redemption.

     (a)  The Series F Preferred Stock is not redeemable prior to February 23,
          2009. On and after February 23, 2009, the Company, at its option upon
          not less than 30 nor more than 60 days' written notice, may redeem
          shares of the Series F Preferred Stock, in whole or in part, at any
          time or from time to time, for cash at a redemption price of $25 per
          share, plus all accrued and unpaid dividends thereon to the date fixed
          for redemption (except with respect to Excess Shares), without
          interest. Holders of Series F Preferred Stock to be redeemed shall
          surrender such Series F Preferred Stock at the place designated in
          such notice and shall be entitled to the redemption price and any
          accrued and unpaid dividends payable upon such redemption following
          such surrender. If notice of redemption of any shares of Series F
          Preferred Stock has been given and if the funds necessary for such
          redemption have been set aside by the Company in trust for the benefit
          of the holders of any shares of Series F Preferred Stock so called for
          redemption, then from and after the redemption date dividends will
          cease to accrue on such shares of Series F Preferred Stock, such
          shares of Series F Preferred Stock shall no longer be deemed
          outstanding and all rights of the holders of such shares will
          terminate, except the right to receive the redemption price. If less
          than all of the outstanding Series F Preferred Stock is to be
          redeemed, the Series F Preferred Stock to be redeemed shall be
          selected pro rata (as nearly as may be practicable without creating
          fractional shares) or by any other equitable method determined by the
          Company.

     (b)  Unless full cumulative dividends on all shares of Series F Preferred
          Stock shall have been or contemporaneously are declared and paid or
          declared and a sum sufficient for the payment thereof set apart for
          payment for all dividend periods ending prior to or on the most recent
          past Dividend Payment Date, no shares of Series F Preferred Stock
          shall be redeemed unless all outstanding shares of Series F Preferred
          Stock are simultaneously redeemed and the Company shall not purchase
          or otherwise acquire directly or indirectly any shares of Series F
          Preferred Stock (except by exchange for capital stock of the Company
          ranking junior to the Series F Preferred Stock as to dividends and
          upon liquidation); provided, however, that the foregoing shall not
          prevent the purchase by the Company of Excess Shares in order to
          ensure that the Company continues to meet the requirements for
          qualification as a REIT, or the purchase or acquisition of shares of
          Series F Preferred Stock pursuant to a purchase or exchange offer made
          on the same terms to holders of all outstanding shares of Series F
          Preferred Stock. So long as no dividends are in arrears, the Company
          shall be entitled at any time and from time to time to repurchase
          shares of Series F Preferred Stock in open-market transactions duly
          authorized by the Board of Directors and effected in compliance with
          applicable laws.

                                       4
<PAGE>

     (c)  Notice of redemption will be given by publication in a newspaper of
          general circulation in the City of New York, such publication to be
          made once a week for two successive weeks commencing not less than 30
          nor more than 60 days prior to the redemption date. A similar notice
          will be mailed by the Company, postage prepaid, not less than 30 nor
          more than 60 days prior to the redemption date, addressed to the
          respective holders of record of the Series F Preferred Stock to be
          redeemed at their respective addresses as they appear on the stock
          transfer records of the Company. No failure to give such notice or any
          defect therein or in the mailing thereof shall affect the validity of
          the proceedings for the redemption of any shares of Series F Preferred
          Stock except as to the holder to whom notice was defective or not
          given. Each notice shall state: (i) the redemption date; (ii) the
          redemption price; (iii) the number of shares of Series F Preferred
          Stock to be redeemed; (iv) the place or places where the Series F
          Preferred Stock is to be surrendered for payment of the redemption
          price; and (v) that dividends on the shares to be redeemed will cease
          to accrue on such redemption date. If less than all of the Series F
          Preferred Stock held by any holder is to be redeemed, the notice
          mailed to such holder shall also specify the number of shares of
          Series F Preferred Stock held by such holder to be redeemed.

     (d)  Immediately prior to any redemption of Series F Preferred Stock, the
          Company shall pay, in cash, any accumulated and unpaid dividends to
          the redemption date, unless a redemption date falls after a Dividend
          Record Date and prior to the corresponding Dividend Payment Date, in
          which case each holder of Series F Preferred Stock at the close of
          business on such Dividend Record Date shall be entitled to the
          dividend payable on such shares on the corresponding Dividend Payment
          Date notwithstanding the redemption of such shares before such
          Dividend Payment Date.

     (e)  Excess Shares may be redeemed, in whole or in part, at any time when
          outstanding shares of Series F Preferred Stock are being redeemed, for
          cash at a redemption price of $25 per share, but excluding accrued and
          unpaid dividends on such Excess Shares, without interest. Such Excess
          Shares shall be redeemed in such proportion and in accordance with
          such procedures as shares of Series F Preferred Stock are being
          redeemed.

7.   Voting Rights.

     (a)  Holders of the Series F Preferred Stock will not have any voting
          rights, except as set forth below.

                                       5
<PAGE>

     (b)  Whenever (i) dividends on any shares of Series F Preferred Stock or
          Series E Preferred Stock shall be in arrears for six or more quarterly
          periods, or (ii) dividends on any shares of Series A Preferred Stock
          or Series B Preferred Stock shall be in arrears for eighteen or more
          months (each of (i) and (ii) are hereinafter referred to as a
          "Preferred Dividend Default"), the number of directors then
          constituting the Board of Directors shall be increased by two (if not
          already increased by reason of a similar arrearage with respect to any
          Parity Preferred (as hereinafter defined)). The holders of shares of
          Series F Preferred Stock (voting separately as a class with all other
          series of Preferred Stock ranking on a parity with the Series F
          Preferred Stock as to dividends or upon liquidation including, but not
          limited to, the Series A Preferred Stock, the Series B Preferred Stock
          and the Series E Preferred Stock ("Parity Preferred") upon which like
          voting rights have been conferred and are exercisable) will be
          entitled to vote separately as a class, in order to fill the vacancies
          thereby created, for the election of a total of two additional
          directors of the Company (the "Preferred Stock Directors") at a
          special meeting called by the holders of record of at least 20% of the
          Series F Preferred Stock or the holders of record of at least 20% of
          any series of Parity Preferred so in arrears (unless such request is
          received less than 90 days before the date fixed for the next annual
          or special meeting of the stockholders) or at the next annual meeting
          of stockholders, and at each subsequent annual meeting until all
          dividends accumulated on such shares of Series F Preferred Stock,
          Series E Preferred Stock, Series A Preferred Stock and Series B
          Preferred Stock for the past dividend periods and the dividend for the
          then current dividend period shall have been fully paid or declared
          and a sum sufficient for the payment thereof set aside for payment. In
          the event the directors of the Company are divided into classes, each
          such vacancy shall be apportioned among the classes of directors to
          prevent stacking in any one class and to insure that the number of
          directors in each of the classes of directors, are as equal as
          possible. Each Preferred Stock Director, as a qualification for
          election as such (and regardless of how elected) shall submit to the
          Board of Directors of the Company a duly executed, valid, binding and
          enforceable letter of resignation from the Board of Directors, to be
          effective upon the date upon which all dividends accumulated on such
          shares of Series F Preferred Stock and Parity Preferred for the past
          dividend periods and the dividend for the then current dividend period
          shall have been fully paid or declared and a sum sufficient for the
          payment thereof set aside for payment, whereupon the terms of office
          of all persons elected as Preferred Stock Directors by the holders of
          the Series F Preferred Stock and any Parity Preferred shall, upon the
          effectiveness of their respective letters of resignation, forthwith
          terminate, and the number of directors then constituting the Board of
          Directors shall be reduced accordingly. A quorum for any such meeting
          shall exist if at least a majority of the outstanding shares of Series
          F Preferred Stock and shares of Parity Preferred upon which like
          voting rights have been conferred and are exercisable are represented
          in person or by proxy at such meeting. Such Preferred Stock Directors
          shall be elected upon the affirmative vote of a plurality of the
          shares of Series F Preferred Stock and such Parity Preferred present
          and voting in person or by proxy at a duly called and held meeting at
          which a quorum is present. If and when all accumulated dividends and
          the dividend for the then current dividend period on the Series F
          Preferred Stock, Series E Preferred Stock, Series A Preferred Stock
          and Series B Preferred Stock shall have been paid in full or declared
          and set aside for payment in full, the holders of shares of Series F
          Preferred Stock shall be divested of the foregoing voting rights
          (subject to revesting in the event of each and every Preferred
          Dividend Default) and, if all accumulated dividends and the dividend
          for the current dividend period have been paid in full or set aside
          for payment in full on all series of Parity Preferred upon which like
          voting rights have been conferred and are exercisable, the term of
          office of each Preferred Stock Director so elected shall terminate.
          Any Preferred Stock Director may be removed at any time with or
          without cause by, and shall not be removed otherwise than by the vote
          of the holders of record of a majority of the outstanding shares of
          the Series F Preferred Stock when they have the voting rights
          described above (voting separately as a class with all series of
          Parity Preferred upon which like voting rights have been conferred and
          are exercisable). So long as a Preferred Dividend Default shall
          continue, any vacancy in the office of a Preferred Stock Director may
          be filled by written consent of the Preferred Stock Director remaining
          in office, or if none remains in office, by a vote of the holders of
          record of a majority of the outstanding shares of Series F Preferred
          Stock when they have the voting rights described above (voting
          separately as a class with all series of Parity Preferred upon which
          like voting rights have been conferred and are exercisable). The
          Preferred Stock Directors shall each be entitled to one vote per
          director on any matter.

                                       6
<PAGE>

     (c)  So long as any shares of Series F Preferred Stock remain outstanding,
          the Company will not, without the affirmative vote or consent of the
          holders of at least two-thirds of the shares of the Series F Preferred
          Stock outstanding at the time, given in person or by proxy, either in
          writing or at a meeting (voting separately as a class), amend, alter
          or repeal the provisions of the Charter or these Articles
          Supplementary, whether by merger, consolidation or otherwise (an
          "Event"), so as to materially and adversely affect any right,
          preference, privilege or voting power of the Series F Preferred Stock
          or the holders thereof; provided, however, that with respect to the
          occurrence of any Event set forth above, so long as the Series F
          Preferred Stock (or any equivalent class or series of stock issued by
          the surviving corporation in any merger or consolidation to which the
          Company became a party) remains outstanding with the terms thereof
          materially unchanged, the occurrence of any such Event shall not be
          deemed to materially and adversely affect such rights, preferences,
          privileges or voting power of holders of the Series F Preferred Stock
          and provided, further that (i) any increase in the amount of the
          authorized Preferred Stock or the creation or issuance of any other
          series of Preferred Stock, or (ii) any increase in the amount of
          authorized shares of such series, in each case ranking on a parity
          with or junior to the Series F Preferred Stock with respect to payment
          of dividends or the distribution of assets upon liquidation,
          dissolution or winding up, shall not be deemed to materially and
          adversely affect such rights, preferences, privileges or voting
          powers.

     (d)  The foregoing voting provisions will not apply if, at or prior to the
          time when the act with respect to which such vote would otherwise be
          required shall be effected, all outstanding shares of Series F
          Preferred Stock shall have been redeemed or called for redemption upon
          proper notice and sufficient funds shall have been deposited in trust
          to effect such redemption.

     (e)  Except as expressly stated in these Articles Supplementary, the Series
          F Preferred Stock shall not have any relative, participating, optional
          or other special voting rights and powers and the consent of the
          holders thereof shall not be required for the taking of any corporate
          action, including but not limited to, any merger or consolidation
          involving the Company or a sale of all or substantially all of the
          assets of the Company, irrespective of the effect that such merger,
          consolidation or sale may have upon the rights, preferences or voting
          power of the holders of the Series F Preferred Stock.

8.   Conversion. The holders of Series F Preferred Stock shall not have any
     rights to convert such shares into, or exchange such shares for, shares of
     any other class or series of stock or any other securities of, or interest
     in, the Company.

9.   Limit on Ownership of Series F Preferred Stock; Excess Preferred Shares.
     Shares of Series F Preferred Stock shall be subject to the limitations on
     ownership and transfer set forth in Article NINTH of the Charter of the
     Company, including the applicable Limit (as defined in the Charter) and
     other provisions of Article NINTH of the Charter. Subject to the authority
     of the Board of Directors set forth in said Article NINTH, the Limit
     applicable to shares of the Series F Preferred Stock shall be the number of
     shares of Series F Preferred Stock that is equal to 9.8% of the then
     outstanding shares of Series F Preferred Stock.

     FOURTH: The Series F Preferred Stock has been classified and designated by
the Board of Directors of the Company under the authority contained in the
Charter.

                                       7
<PAGE>

     FIFTH: These Articles Supplementary have been approved by the Board of
Directors in the manner and by the vote required by law.

     SIXTH: The undersigned Chairman of the Board, President and Chief Executive
Officer of the Company acknowledges these Articles Supplementary to be the
corporate act of the Company and, as to all matters or facts required to be
verified under oath, the undersigned Chairman of the Board, President and Chief
Executive Officer of the Company acknowledges that to the best of his knowledge,
information and belief, these matters and facts are true in all material
respects and that this statement is made under the penalties of perjury.

                            [Signature Page Follows]

                                       8
<PAGE>

     IN WITNESS WHEREOF, the Company has caused these Articles Supplementary to
be executed under seal in its name and on its behalf by its Chairman of the
Board, President and Chief Executive Officer and attested to by its Corporate
Secretary on this 19th day of February, 2004.

ATTEST:                                              LTC PROPERTIES, INC.

/s/ Alex J. Chavez                  By:    /s/ Andre C. Dimitriadis(SEAL)
___________________________                _____________________________________
Name:   Alex J. Chavez              Name:  Andre C. Dimitriadis
Title:  Corporate Secretary         Title: Chairman of the Board, President and
                                           Chief Executive Officer

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