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Summerhill <br />OF MAPLEWOOD <br />A Disiinctive Cooperative Community <br />by Nichols Development: LLC <br />Minimum Share Payment Options <br />Option 1: <br />Pay minimum share payment in full* <br />• Payment due upon written notice 45 days or one month prior to construction start <br />• Receive a S500 credit for construction upgrades in your Summerhill home <br />*Incentives do not apply to Swing Loans where Nichols Development pays the interest <br />on the loan, or the 50/50 option <br />Option 2 <br />50/50 payment option* <br />• 50% o of minimum share payment due upon written notice 45 days or one month <br />prior to construction start <br />• Balance 50% of minimum share payment due on certificate of occupancy for <br />Summerhill Cooperative of Maplewood <br />*Requires that subscriber enter into a promissory note with Nichols Development for the <br />amount financed. Note to bear interest at the prime rate and to be secured by a second <br />mortgage on primary residence. <br />Option 3 <br />Swing Loan Interest Paid* <br />• Apply for a swing loan at a basilk referred to you by Nichols Development and let <br />Nichols Development pay the interest on the loan for up to 1 months. <br />*Please consult with a Summerhill representative for more information regarding this <br />innovative financing option. <br />PAGE 12 <br />