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<br />. <br /> <br />. <br /> <br />. <br /> <br />EXHIBIT 1 <br /> <br />REMODELING <br /> <br />Building remodeling is planned for both the inside and outside of the <br />building. This remodeling is planned to be done in three stages as <br />the budget and needs will allow. The following is a breakdown of <br />planned repairs and improvements by stage. <br /> <br />STAGE ONE INSIDE - to be accomplished within 4 months of closing on <br />or about June 1, 1993. <br /> <br />1) <br />2) <br /> <br />3) <br />4) <br />5) <br />6) <br />7) <br />8) <br />9) <br />10) <br />11) <br />12) <br />13) <br />14) <br />15) <br /> <br />gut interior to the exterior walls <br />relocated main breaker boxes, remove excess equipment, rewire <br />interior to meet current needs <br />add new stud walls <br />ceramic foyer entry <br />linoleum in kitchen/bathroom areas <br />carpet main office <br />new drop ceiling <br />new plumbing and fixtures in rest room <br />new water heater <br />new heating ducts <br />paint interior <br />sheetrock new walls <br />insulate exterior walls <br />telephone system wiring <br />neon signs for window (area to be included in the 100 square <br />foot signage maximum) <br /> <br />STAGE ONE OUTSIDE - to be accomplished within 4 months of closing on <br />or about June 1, 1993. <br /> <br />1) site clean-up and debris removal <br />2) parking lot - remove weeds, patch holes, hot fill cracks, seal <br />coat parking lot and restripe <br />3) new sign for building front <br />4) remove wood structure at rear of building <br />5) remove graffiti from building <br />6) repair leaks in roof <br />7) repair awning and paint to burgundy (same as for sale sign) <br />8) replace outside overhang lights <br /> <br />STAGE TWO INSIDE - to be accomplished between October 1993 and <br />December 1994. <br /> <br />1) new interior furnishings <br />2) finish second rest room <br />3) wallpaper interior <br />4) tinting for windows <br />