Document:

STOCK EXCHANGE AND RESTRUCTURING AGREEMENT

 

This Stock Exchange
and Restructuring Agreement (this “Agreement”) is made and effective as of August 1, 2016 (the “Effective
Date”), by and between American Housing Income Trust, Inc., a Maryland corporation (“AHIT”) with a mailing address
for notice purposes of 34225 North 27th Drive, Building 5, Suite 238 in Phoenix, Arizona 85085, which is the business
address of its wholly-owned subsidiary, American Realty Partners, LLC (“ARP”), and Performance Realty Management, LLC,
an Arizona limited liability company (“PRM”) with a mailing address for notice purposes of 34225 North 27th
Drive, Building 5, Suite 238 in Phoenix, Arizona 85085. AHIT and PRM may be defined singularly as a “Party” or collectively
as the “Parties.”

 

WHEREAS, the Parties have
determined that the transaction contemplated by this Agreement would be advantageous and beneficial to their respective companies,
members and shareholders, and would be consistent with a related-party restructuring.

 

WHEREAS, on July 28, 2016,
PRM was issued 439,401 shares of common stock in AHIT pursuant to a Designation and Acceptance of Rights (the “Designation”)
entered into between AHIT, PRM and the designor under the agreement, Sean Zarinegar. AHIT represents and warrants that the Designation
had been unanimously approved by its Board of Directors with Mr. Zarinegar abstaining from vote. This issuance resulted in 1,439,401
shares of issued and outstanding shares of common stock in AHIT owned by PRM, of which 1,000,000 shares issued on September 28,
2015 were registered as selling shareholder shares with AHIT’s registration statement on Form S-11 with an effective date
of June 22, 2016 (www.sec.gov/edgar). The exchange of units-for-shares as set forth in Article II, below, is based on these 1,439,401
shares.

 

WHEREAS, pursuant to a
confidential private offering under Rule 506(b) of Regulation D under the Securities Act of 1933 (the “Private Offering”),
PRM issued 144 (rounded up) Class A Units to forty-eight holders (some with different purchase dates). The Class A Unit holders
and their specific holdings are set forth on Exhibit A. The Private Offering has since closed. The potential for this type of agreement
with AHIT was disclosed in the Private Offering, and the Private Offering was disclosed in AHIT’s registration statement
on Form S-11.

 

WHEREAS, pursuant to the
Articles of Amendment to Articles of Organization of PRM dated April 1, 2016, the Class A Units have preference over the common
units held by Mr. Zarinegar, on, amongst other things, “...any future reorganization or stock exchange on a pro rata
basis, as determined by the Manager.” Furthermore, pursuant to the disclosures in the Private Offering, and Section 3.3(t)
of the Operating Agreement for PRM, which had been attached as an exhibit to the Private Offering, Mr. Zarinegar was granted limited
power of attorney by each Class A Unit holder to vote their respective proxy on any future exchange, such as the one agreed to
herein.

 

WHEREAS, PRM has represented
to AHIT that notwithstanding Mr. Zarinegar’s authority under Section 3.3(t) of the Operating Agreement for PRM, PRM has notified
all Class A Unit holders of the exchange set forth herein.

 

    	-1-

    	 

    

WHEREAS, prior to this
Agreement, PRM represents that its business model and intent was to expand on its property management services for other real estate
investment trusts, or other property holding and operating companies, similar to the services rendered as manager of ARP. However,
Mr. Zarinegar, as authorized under the Operating Agreement for PRM, has determined, exercising his sound business judgment and
discretion, that the Class A Unit holders would benefit from an issuance of shares in AHIT (a related party) considering the trajectory
of AHIT’s acquisitions, and the fact that AHIT is publicly reporting with the United States Securities and Exchange Commission
(the “SEC”) and trades on the OTCQB marketplace.

 

 

WHEREAS, AHIT has determined
that the exchange of units for stock between related parties under this Agreement is beneficial to its overall capital structure.

 

WHEREAS, for United States
federal income tax purposes, the transactions contemplated hereby are intended to qualify as a tax-free reorganization under
Section 368 of the Internal Revenue Code of 1986, as amended (together with all rules and regulations issued thereunder (the “Code”))
and this Agreement is intended to be adopted as a plan of reorganization for purposes of Section 368 of the Code. Notwithstanding
this intention, PRM and AHIT have advised the Class A Unit members of PRM that it is not passing on whether the exchange hereunder
actually qualifies for a tax-free event under the Code; rather, PRM and AHIT have advised the PRM members of the intended treatment
set forth herein.

 

WHEREAS, the Recitals stated
herein are not mere statements, but representations and warranties of the parties, and material terms in which each party has relied
upon in executing this Agreement.

 

NOW, THEREFORE, in consideration
of the premises and the representations, warranties and agreements herein contained, the parties hereto agree as follows:

 

ARTICLE I

 

DEFINITIONS

 

SECTION 1.1. DEFINITIONS. As used herein, the
following terms shall have the following meanings:

 

(a)“Act” means the
Securities Act of 1933, as amended, and the rules and regulations issued in respect thereto.

 

(b)“Encumbrance”
means any security interest, mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or
otherwise), charge against or interest in property to secure payment of a debt or performance of an obligation or other priority
or preferential arrangement of any kind or nature whatsoever.

 

(c)“Law” means any
law, statute, regulation, rule, ordinance, requirement or other binding action or requirement of any governmental, regulatory or
administrative body, agency or authority or any court of judicial authority.

 

    	-2-

    	 

    

 

(d)“Order” means
any decree, order, judgment, writ, award, injunction, stipulation or

 

consent of or by any Federal, state or local
government or any court, administrative agency or commission or other governmental authority or agency, domestic or foreign.

 

(e)“Person” means
any individual, corporation, general or limited partnership, joint venture, association, limited liability company, joint stock
company, trust, business, bank, trust company, estate (including any beneficiaries thereof), unincorporated entity, cooperative,
association, government branch, agency or political subdivision thereof or organization of

any kind.

 

(f)“Transaction Documents”
means any ancillary contracts, agreements or other documents that are to be entered into in connection with the transactions contemplated
hereby.

 

ARTICLE II

 

EXCHANGE OF STOCK

 

SECTION 2.1. Subject to the terms and conditions
of this Agreement, at the Closing, PRM will retire and void the PRM Class A Unit holders interests in PRM, and upon receipt of
notice from PRM that such company action has taken place, AHIT will direct its transfer agent to issue certificates consistent
with Exhibit A. The shares issued to the PRM Class A Unit holders set forth on Exhibit A are hereinafter referred to as the “AHIT
Shares.” The valuation associated with the exchange rate under Exhibit A has been arbitrarily determined by PRM and the Board
of Directors for AHIT pursuant to consent.

 

SECTION 2.2. THE CLOSING. Subject to the terms
and conditions of this Agreement, the closing of the transactions contemplated by this Agreement (the “Closing”) shall
take place as promptly as possible but no later than the fifth (5th) business day following the day the last of the
conditions set forth in Article V has been fulfilled or waived (other than those that this Agreement contemplates will be satisfied
at or immediately prior to the Closing), or at such other time as shall be mutually agreed upon by the Parties (the “Closing
Date”).

 

ARTICLE III

 

REPRESENTATIONS AND WARRANTIES OF AHIT

 

AHIT represents and warrants
to PRM that the statements contained in this Article III are true and correct as of the date of this Agreement and will be true
and correct as of the Closing as though made as of the Closing, except to the extent such representations and warranties are specifically
made as of a particular date (in which case such representations and warranties will be true and correct as of such date).

 

    	-3-

    	 

    

 

SECTION 3.1. POWER AND AUTHORITY. AHIT is a
corporation duly organized, validly existing and in good standing under the laws of the State of Maryland. AHIT has all requisite
capacity, power and authority to execute, deliver and perform this Agreement. No other corporate action on the part of AHIT is
necessary to authorize the execution and delivery by AHIT of this Agreement. This Agreement has been duly executed and delivered
and, upon execution by PRM, will constitute a valid and legally binding obligation of AHIT, enforceable against AHIT in accordance
with its terms, except (a) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, and other laws of general
application affecting enforcement of creditors' rights generally and (b) as limited by laws relating to the availability of specific
performance, injunctive relief, or other equitable remedies.

 

SECTION 3.2. OWNERSHIP; TRANSFERABILITY. AHIT
is the legal and beneficial owner of the AHIT Shares, free and clear of any Encumbrance or restriction on transfer (and shall remain
free and clear until the Closing), other than restrictions under the Act, or restrictions reflected in a legend on the certificates
representing the AHIT Shares.

 

SECTION 3.3. CONSENTS AND APPROVALS. Neither
the execution, delivery and performance of this Agreement by AHIT, nor the consummation by AHIT of any transaction related hereto,
including the transfer, sale and delivery of the AHIT Shares will require any consent, approval, license, Order or authorization
of, filing, registration, declaration or taking of any other action with, or notice to, any Person, other than such consents, approvals,
filings or actions as may be required under the Federal securities laws which have or will be made, or the securities laws of the
jurisdiction of AHIT.

 

SECTION 3.4. NO CONFLICTS. The execution and
delivery by AHIT of this Agreement, and the consummation of the transactions contemplated by this Agreement shall not, assuming
the consents, approvals, filings or actions described in Section 3.3 are made or obtained, as the case may be, (a) contravene,
conflict with, or result in any violation or breach of any provision of the certificate of incorporation or by-laws of AHIT, (b)
result in any violation or breach of, or constitute (with or without notice or lapse of time, or both) a default (or give rise
to a right of termination, cancellation or acceleration of any obligation or loss of any benefit) under any of the terms, conditions
or provisions of any note, bond, mortgage, indenture, lease, contract or other agreement, instrument or obligation to which AHIT
is a party or by which it or any of its properties or assets may be bound, or (c) conflict or violate any permit, concession, franchise,
license, judgment, Order, decree, statute, law, ordinance, rule or regulation of any government, governmental instrumentality or
court, domestic or foreign, applicable to AHIT or any of its properties or assets, except in the case of (b) and (c) for any such
conflicts, violations, defaults, terminations, cancellations or accelerations which would not, individually or in the aggregate,
materially and adversely affect the AHIT Shares being conveyed by AHIT to the holders of Class A Units in PRM.

 

SECTION 3.5. Brokers,
etc. AHIT is not obligated to pay any fee or commission to any broker, finder or other similar Person in connection with
the transactions contemplated by this Agreement (other than any fees or commissions that are solely for the account of AHIT).

 

    	-4-

    	 

    

 

ARTICLE IV

 

Representations
and Warranties of PRM

 

PRM represents and warrants
to AHIT that the statements contained in this Article IV are true and correct as of the date of this Agreement and will be true
and correct as of the Closing as though made as of the Closing, except to the extent such representations and warranties are specifically
made as of a particular date (in which case such representations and warranties will be true and correct as of such date).

 

SECTION 4.1. POWER AND AUTHORITY. PRM is a
company duly organized, validly existing and in good standing under the laws of the State of Arizona. PRM has all requisite capacity,
power and authority to execute, deliver and perform this Agreement. No other company action on the part of PRM is necessary to
authorize the execution and delivery by PRM of this Agreement. This Agreement has been duly executed and delivered and, upon execution
by AHIT, will constitute a valid and legally binding obligation of PRM, enforceable against PRM in accordance with its terms, except
(a) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, and other laws of general application affecting
enforcement of creditors' rights generally and (b) as limited by laws relating to the availability of specific performance, injunctive
relief, or other equitable remedies.

 

SECTION 4.2. CONSENTS AND APPROVALS. Neither
the execution, delivery and performance of this Agreement by PRM, nor the consummation by PRM of any transaction related hereto,
will require any consent, approval, license, Order or authorization of, filing, registration, declaration or taking of any other
action with, or notice to, any Person, other than such consents, approvals, filings or actions as may be required under the Federal
securities laws which have or will be made, or the securities laws of the jurisdiction of PRM. PRM consents to any and all necessary
requirements of AHIT in reporting this transaction with the United States Securities and Exchange Commission.

 

SECTION 4.4. NO CONFLICTS. The execution and
delivery by PRM of this Agreement, and the consummation of the transactions contemplated by this Agreement shall not, assuming
the consents, approvals, filings or actions described in Section 4.3 are made or obtained, as the case may be, (a) contravene,
conflict with, or result in any violation or breach of any provision of the certificate of incorporation or by-laws of PRM, (b)
result in any violation or breach of, or constitute (with or without notice or lapse of time, or both) a default (or give rise
to a right of termination, cancellation or acceleration of any obligation or loss of any benefit) under any of the terms, conditions
or provisions of any note, bond, mortgage, indenture, lease, contract or other agreement, instrument or obligation to which PRM
is a party or by which it or any of its properties or assets may be bound, or (c) conflict or violate any permit, concession, franchise,
license, judgment, Order, decree, statute, law, ordinance, rule or regulation of any government, governmental instrumentality or
court, domestic or foreign, applicable to PRM or any of its properties or assets, except in the case of (b) and (c) for any such
conflicts, violations, defaults, terminations, cancellations or accelerations which would not, individually or in the aggregate,
materially and adversely affect the PRM Shares being conveyed by PRM to AHIT.

 

    	-5-

    	 

    

 

SECTION 4.5. Purchase
Entirely for Own Account. PRM has advised the Class A Unit holders of PRM receiving AHIT Shares that the AHIT Shares to
be received are acquired for investment in their respective accounts, and not with a view to the resale or distribution of any
part thereof, unless otherwise allowed for under the Act or any applicable exemption to registration.

 

SECTION 4.6. Brokers,
etc. PRM is not obligated to pay any fee or commission to any broker, finder or other similar Person in connection with
the transactions contemplated by this Agreement (other than any fees or commissions that are solely for the account of PRM).

 

SECTION 4.7. LEGENDS. Unless AHIT’s transfer
agent and the Board of Directors determines that the AHIT Shares currently registered may be transferred to the Class A Unit holders
on a pro rata basis on Exhibit A, with the balance issued pro rata on a restricted basis, it is understood that the certificates
evidencing the AHIT Shares, i.e. those shares issued to those identified on Exhibit A, shall bear a legend substantially in the
form below:

 

			THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1933 OR WITH ANY STATE SECURITIES COMMISSION, AND MAY NOT BE TRANSFERRED OR DISPOSED OF BY THE HOLDER IN
THE ABSENCE OF A REGISTRATION STATEMENT WHICH IS EFFECTIVE UNDER THE SECURITIES ACT OF 1933 AND APPLICABLE STATE LAWS AND RULES
OR UNLESS SUCH TRANSFER MAY BE EFFECTED WITHOUT VIOLATION OF THE SECURITIES ACT OF 1933 AND OTHER APPLICABLE STATE LAWS AND RULES.

 

ARTICLE V

 

CONDITIONS PRECEDENT; RELATED COVENANTS

 

SECTION 5.1. CLOSING EFFORTS. Each of the Parties
hereto shall use its commercially reasonable efforts (“Reasonable Efforts”) to take all actions and to do all things
necessary, proper or advisable to consummate the transactions contemplated by this Agreement, including using its Reasonable Efforts
to ensure that (i) its representations and warranties remain true and correct in all material respects through the Closing Date,
and (ii) the conditions to the obligations of the other parties to consummate the transaction are satisfied.

 

SECTION 5.2. CONDITIONS PRECEDENT TO OBLIGATIONS
OF PRM. The obligations of PRM are subject to the fulfillment of the condition that, at the Closing, the representations and warranties
of PRM set forth in this Agreement that are qualified as to materiality shall be true and correct in all respects, and all other
representations and warranties of PRM set forth in this Agreement shall be true and correct in all material respects, in each case
as of the date of this Agreement and as of the Closing as though made as of the Closing, except to the extent such representations
and warranties are specifically made as of a particular date (in which case such representations and warranties shall be true and
correct as of such date).

 

    	-6-

    	 

    

 

SECTION 5.3. CONDITIONS PRECEDENT TO OBLIGATIONS
OF AHIT. The obligations of AHIT to convey the AHIT Shares are subject to the fulfillment of the condition that, at the Closing,
the representations and warranties of AHIT set forth in this Agreement that are qualified as to materiality shall be true and correct
in all respects, and all other representations and warranties of AHIT set forth in this Agreement shall be true and correct in
all material respects, in each case as of the date of this Agreement and as of the Closing as though made as of the Closing, except
to the extent such representations and warranties are specifically made as of a particular date (in which case such representations
and warranties shall be true and correct as of such date).

 

ARTICLE VI

 

TERMINATION

 

SECTION 6.1. TERMINATION BY MUTUAL CONSENT.
This Agreement may be terminated and the transactions contemplated hereby may be abandoned at any time prior to the Closing by
the written consent of each party hereto.

 

SECTION 6.2. TERMINATION BY EITHER AHIT OR
PRM. This Agreement may be terminated (upon written notice from the terminating party hereto to the other party hereto) and the
transactions contemplated hereby may be abandoned by action of any party hereto, if (a) the conveyance of the AHIT Shares to the
Class A Unit holders of PRM Members shall not have occurred on or prior to August 31, 2016, or (b) any Federal, state or local
government or any court, administrative agency or commission or other governmental authority or agency, domestic or foreign shall
have issued a Law or Order permanently restraining, enjoining or otherwise prohibiting the transactions contemplated hereby and
such Law or Order shall have become final and non-appealable.

 

SECTION 6.3. EFFECT OF TERMINATION AND ABANDONMENT.
In the event of termination of this Agreement pursuant to this Article VI hereof, no Party or, its directors or officers or other
controlling persons shall have any liability or further obligation to any other Party hereto pursuant to this Agreement, except
that

 

 

 

 

Article VII hereof shall survive termination
of this Agreement and nothing herein will relieve any party hereto from liability for any breach of this Agreement occurring prior
to such termination.

 

    	-7-

    	 

    

 

ARTICLE VII

 

GENERAL PROVISIONS; OTHER AGREEMENTS

 

SECTION 7.1. PRESS RELEASES. Other than any
required filings under the Federal securities laws, none of the parties hereto will, without first obtaining the approval of the
other, make any public announcement, directly or indirectly, regarding this Agreement, nor the nature of the transaction contemplated
by this Agreement, to any person except as required by law or regulatory bodies and other than to the respective principals or
other representatives of the Parties, each of whom shall be similarly bound by such confidentiality obligations. If any such press
release or public announcement is so required by either party (except in the case of any disclosure required under the Federal
securities laws to be made in a filing with the Commission), the disclosing party shall consult with the other parties prior to
making such disclosure, and the parties shall use all reasonable efforts, acting in good faith, to agree upon a text for such disclosure
which is satisfactory to each of the Parties.

 

SECTION 7.2. INTENDED TAX-FREE TRANSACTION.
From and after the date of this Agreement, AHIT shall use all reasonable efforts to cause the transactions contemplated hereby
to qualify, and shall not knowingly take any actions or permit any actions to be taken that could reasonably be expected to prevent
said transactions from qualifying as a “reorganization” under Section 368(a) of the Code for the benefit of the Class
A Unit holders of PRM. This Agreement shall be, and hereby is, adopted by PRM as an intended plan of reorganization for purposes
of Section 368 of the Code.

 

SECTION 7.3. EXPENSES. Regardless of whether
the transactions contemplated hereby are consummated, all legal and other costs and expenses incurred in connection with this Agreement
and the transactions contemplated hereby shall be paid by the party hereto incurring such costs and expenses.

 

SECTION 7.4. GOVERNING LAW. This Agreement
shall be governed by and construed in accordance with the laws of the State of Maryland without regard to the conflicts of laws
provisions thereof.

 

SECTION 7.5. HEADINGS. Article and Section
headings used in this Agreement are for convenience only and shall not affect the meaning or construction of this Agreement.

 

SECTION 7.6. ENTIRE AGREEMENT. This Agreement
constitutes the entire agreement between the parties hereto and supersedes all prior agreements and understandings, both written
and oral, with respect to the subject matter hereof.

 

SECTION 7.7. COUNTERPARTS. This Agreement may
be executed in one or more counterparts, each of which shall be deemed an original but all of which together shall constitute one
and the same instrument. Signatures on this Agreement may be communicated by facsimile transmission and shall be binding upon the
parties hereto so transmitting their signatures. Counterparts with original signatures shall be provided to the other parties hereto
following the applicable facsimile transmission; provided that the failure to provide the original counterpart shall have no effect
on the validity or the binding nature of this Agreement.

 

    	-8-

    	 

    

 

SECTION 7.8. AMENDMENT. Any term of this Agreement
may be modified or amended only by an instrument in writing signed by each of the parties hereto.

 

SECTION 7.9. SEVERABILITY. If one or more provisions
of this Agreement are held to be unenforceable under applicable law, such provision shall be excluded from this Agreement and the
balance of the Agreement shall be interpreted as if such provision were so excluded and shall be enforced in accordance with its
terms.

 

SECTION 7.10 JOINT DRAFTING, NEGOTIATION AND
CONFLICT WAIVER. Each Party agrees that they have had an opportunity to participate in the drafting, preparation and negotiation
of this Agreement. Each of the Parties expressly acknowledges such participation and negotiation in order to avoid the application
of any rule construing contractual language against the drafter thereof and agrees that the provisions of this Agreement shall
be construed without prejudice to the Party who actually memorialized this Agreement in final form. PRM acknowledges that Paesano
Akkashian Apkarian, P.C. (“PAA”) has disclosed to it that it is legal counsel to AHIT, only, and that it does not represent
PRM in conjunction with this Agreement or implementation of the intended restructuring plan set forth herein, and that an actual
or perceived conflict of interest may exist under the Michigan Rules of Professional Conduct by virtue of the fact that PRM is
a related party to AHIT, and that PAA has disclosed that it represents PRM and Mr. Zarinegar in other unrelated matters. PRM, and
its common unit holder, Mr. Zarinegar, acknowledges that PAA has thoroughly explained the conflict, and to the extent such a conflict
exists, PRM waives the conflict following advice of independent counsel.

 

SECTION 7.11 CONFLICT WAIVER RELATED TO PRM
AND ZARINEGAR. The Parties acknowledge that this Agreement is intended to serve as a step in the restructuring of the Parties in
furtherance of AHIT’s business objectives, and in furthering PRM’s business relationship with AHIT and future services
to be provided to AHIT. The Parties acknowledge that PRM, and its single common unit member, Mr. Zarinegar, will continue to serve
as (a) Manager of PRM until such time the Board of Directors for AHIT determines that the arrangement impairs or might impair its
ultimate objective of being a REIT, and (b) that Zarinegar will continue to serve as Chairman of the Board for AHIT. PRM and AHIT
agree that Zarinegar’s continued roles furthers the interest of AHIT and the interests of the PRM Members, and so to the
extent any conflict exists, PRM and AHIT knowingly and willingly waive such conflict since the execution of this Agreement is in
the best interests of PRM, AHIT and the PRM Members. Furthermore, since Zarinegar is the sole member of PRM, AHIT waives any conflict
of interest in PRM, and more specifically, Zarinegar, executing this Agreement on behalf of PRM.

 

    	-9-

    	 

    

 

IN WITNESS WHEREOF, the
parties hereto have caused this Agreement to be duly executed and delivered as of the date set forth above.

 

AMERICAN HOUSING INCOME TRUST, INC.

 

By: /s/ Jeff Howard

Jeff Howard

Chief Executive Officer
and President

Authorized by Board of
Directors

 

PERFORMANCE REALTY PARTNERS, LLC

 

By: /s/ Sean Zarinegar

By: Sean Zarinegar

Its: Manager

 

 

    	-10-

    	 

    

 

EXHIBIT
A

 

  

	Last Name	First Name	AHIT Shares Rounded	PRM Units 	Registered	Restricted
	Nielsen, Manager	Todd	5,000	0.50	3,866	1,134
	Boehmer	Edward	33,333	3.33	22,785	10,548
	Boehmer	Edward & Paula	33,333	3.33	22,785	10,548
	33,333	3.33	22,785	10,548
	Bollwerk	Albert	30,000	3.00	22,785	7,215
	Borkman	Ralph	10,000	1.00	7,857	2,143
	Campeau	David & Joan	33,333	3.33	22,785	10,548
	Colantonio	Ray	20,000	2.00	11,386	8,614
	Creighton	James	3,333	0.33	2,619	714
	Foerder	Michael	20,000	2.00	11,386	8,614
	George	Chris	10,000	1.00	7,857	2,143
	Hafner	Jeri L, Vantage	6,667	0.67	5,238	1,429
	Hunkler	Michael	10,000	1.00	7,857	2,143
	16,667	1.67	11,386	5,281
	Kolanowski, TTE	Joseph	30,000	3.00	22,785	7,215
	Kozubal	Michael	66,667	6.67	45,582	21,085
	Levine	Jay	20,000	2.00	11,386	8,614
	Linebaugh	James	10,000	1.00	7,857	2,143
	Lineberger	Jason	38,802	3.88	22,785	16,017
	Luke	James "Tom"	20,000	2.00	11,386	8,614
	20,000	2.00	11,386	8,614
	MacDiarmid	Don	10,000	1.00	7,857	2,143
	23,333	2.33	11,386	11,947
	MacDiarmid	Don	19,927	1.99	11,386	8,541
	McCanless	Kurt	13,333	1.33	10,476	2,857
	Neilson 	Todd	10,500	1.05	8,206	2,294
	Nolen	Kenneth	70,000	7.00	45,582	24,418
	Paukert 	Thomas	9,908	0.99	7,744	2,164
	Rees	James	114,855	11.49	79,779	35,076
	12,345	1.23	9,677	2,668
	40,000	4.00	22,785	17,215
	Reynolds	Julie	20,000	2.00	11,386	8,614
	Reynolds	Julie	4,333	0.43	3,417	916
	Reynolds	Julie	2,900	0.29	2,269	631
	Rollins	Scott	6,667	0.67	5,238	1,429
	Rollins	Scott	11,047	1.10	8,655	2,392
	Schneider	Dennis	13,000	1.30	10,251	2,749
	Seward	Paul	28,802	2.88	22,785	6,017
	Smith	Paul, L.	258,247	25.82	193,766	64,484
	Tapia, Manager	Leroy	90,000	9.00	68,380	21,620
	Tognazzini	Arthur	10,000	1.00	7,857	2,143
	Tournillion 	Nicholas & Audrey 	14,401	1.44	10,251	4,150
	Visser	Richard & Phyllis	85,333	8.53	56,981	28,352
	25,000	2.50	11,386	13,614
	Wade	Jerry	13,333	1.33	10,476	2,857
	13,333	1.33	10,476	2,857
	Wells	Roger	5,000	0.50	3,866	1,134
	Williams	Doug	10,000	1.00	7,857	2,143
	Wright	Robin	33,333	3.33	22,785	10,548
	 	 	1,439,401	143.94	999,504	439,897

 

 

    	-11-BOARD OF DIRECTORS CONSENT IN LIEU OF
MEETING REGARDING 

SHARE ISSUANCE INSTRUCTIONS

 

The Board of Directors
for American Housing Income Trust, Inc., a Maryland corporation (the “Company”) in furtherance of the prior consents
approving and ratifying the Stock Exchange and Restructuring Agreement between the Company and Performance Realty Management, LLC
(“Performance Realty”) dated August 1, 2016, but not closed until issuance of the shares set forth herein, hereby consents
to the following action in lieu of a meeting:

RESOLVED, Issuer Direct,
as transfer agent for the Company, is authorized to issue the 999,504 shares currently titled to Performance Realty bearing OFAC
#29847 to those individuals or entities set forth on Exhibit A attached hereto. Issuer Direct is authorized to issue 439,897 shares
of restricted common stock out of the Company’s treasury to those individuals or entities set forth on Exhibit B attached
hereto.

Dated:August 10, 2016

RESOLVED:

 

Abstaining from Vote

Sean Zarinegar

Chairman of the Board

/s/ Jeff Howard

Jeff Howard

Director

 

/s/ Kenneth Hedrick

Kenneth Hedrick

Director

/s/ Les Gutierrez

Les Gutierrez

Director

/s/ James Stevens

James Stevens

Director

 

    	-1-

    	 

    

 

EXHIBIT A

 

	Last Name	First Name	Registered
	Nielsen, Manager	Todd	3,866
	Boehmer	Edward	22,785
	Boehmer	Edward & Paula	22,785
	22,785
	Bollwerk	Albert	22,785
	Borkman	Ralph	7,857
	Campeau	David & Joan	22,785
	Colantonio	Ray	11,386
	Creighton	James	2,619
	Foerder	Michael	11,386
	George	Chris	7,857
	Hafner	Jeri L, Vantage	5,238
	Hunkler	Michael	7,857
	11,386
	Kolanowski, TTE	Joseph	22,785
	Kozubal	Michael	45,582
	Levine	Jay	11,386
	Linebaugh	James	7,857
	Lineberger	Jason	22,785
	Luke	James "Tom"	11,386
	11,386
	MacDiarmid	Don	7,857
	11,386
	MacDiarmid	Don	11,386
	McCanless	Kurt	10,476
	Neilson 	Todd	8,206
	Nolen	Kenneth	45,582
	Paukert 	Thomas	7,744
	Rees	James	79,779
	9,677
	22,785
	Reynolds	Julie	11,386
	Reynolds	Julie	3,417
	Reynolds	Julie	2,269
	Rollins	Scott	5,238
	Rollins	Scott	8,655
	Schneider	Dennis	10,251
	Seward	Paul	22,785
	Smith	Paul, L.	193,766
	Tapia, Manager	Leroy	68,380
	Tognazzini	Arthur	7,857
	Tournillion 	Nicholas & Audrey 	10,251
	Visser	Richard & Phyllis	56,981
	11,386
	Wade	Jerry	10,476
	10,476
	Wells	Roger	3,866
	Williams	Doug	7,857
	Wright	Robin	22,785
	 	 	999,504

 

 

 

    	-2- 

    	 

    

 

EXHIBIT B

 

	Last Name	First Name	Restricted
	Nielsen, Manager	Todd	1,134
	Boehmer	Edward	10,548
	Boehmer	Edward & Paula	10,548
	10,548
	Bollwerk	Albert	7,215
	Borkman	Ralph	2,143
	Campeau	David & Joan	10,548
	Colantonio	Ray	8,614
	Creighton	James	714
	Foerder	Michael	8,614
	George	Chris	2,143
	Hafner	Jeri L, Vantage	1,429
	Hunkler	Michael	2,143
	5,281
	Kolanowski, TTE	Joseph	7,215
	Kozubal	Michael	21,085
	Levine	Jay	8,614
	Linebaugh	James	2,143
	Lineberger	Jason	16,017
	Luke	James "Tom"	8,614
	8,614
	MacDiarmid	Don	2,143
	11,947
	MacDiarmid	Don	8,541
	McCanless	Kurt	2,857
	Neilson 	Todd	2,294
	Nolen	Kenneth	24,418
	Paukert 	Thomas	2,164
	Rees	James	35,076
	2,668
	17,215
	Reynolds	Julie	8,614
	Reynolds	Julie	916
	Reynolds	Julie	631
	Rollins	Scott	1,429
	Rollins	Scott	2,392
	Schneider	Dennis	2,749
	Seward	Paul	6,017
	Smith	Paul, L.	64,484
	Tapia, Manager	Leroy	21,620
	Tognazzini	Arthur	2,143
	Tournillion 	Nicholas & Audrey 	4,150
	Visser	Richard & Phyllis	28,352
	13,614
	Wade	Jerry	2,857
	2,857
	Wells	Roger	1,134
	Williams	Doug	2,143
	Wright	Robin	10,548
	 	 	439,897

 

 

 

    	-3-

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