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J -j <br />Q <br />O <br />A rb <br />M <br />T <br />a <br />O d <br />en A <br />= D <br />m:r <br />n cn <br />d <br />M <br />m CJ ,a <br />M <br />0 <br />MEMORANDUM OF OPTION AGREEMENT <br />S <br />r *� <br />N <br />N <br />0 <br />w <br />C-) cn <br />O —i <br />C= )> <br />z rn <br />O � <br />s r,: <br />r <br />r � <br />n <br />Cn <br />U) <br />Notice is hereby given that SUNWEST PROPERTIES N.C., INC., a Delaware corporation, <br />and SUNWEST PROPERTIES N.C. II, INC., a Delaware corporation, SUNWEST N.C. TRUST, <br />a Delaware trust (hereinafter collectively referred to as "Sunwest "), entered into an Option <br />Agreement (hereinafter referred to as the "Agreement "), whereby Sunwest granted to CROWN <br />FINANCIAL, L.L.C., a Texas limited liability company (hereinafter referred to as "Crown "), the <br />option to acquire those certain tracts or parcels of land more particularly described on Exhibit "A" <br />attached hereto and made a part hereof for all purposes (the "Option Properties "). <br />This Memorandum is executed concurrently with the Agreement for the purpose of <br />recordation in the Real Estate Records of all applicable counties in order to give notice of all terms, <br />provisions, and conditions of the Agreement, and is not intended, and shall not be construed, to <br />define, limit, or modify, any terms, provisions, or condition thereof. <br />EXECUTED effective as of the 10`h day of March, 2003. <br />SUNWEST PROPERTIES N.C., INC., <br />a Delaware corporation <br />By: <br />Robert J. ierson, President <br />SUNWEST PROPERTIES N.C. II, INC., <br />a Delaware corporation <br />By: <br />Robert J. Aerson, President <br />0 <br />OCDI* <br />oa <br />CL <br />N <br />rn to <br />co CE) <br />Z <br />4 <br />33, .So <br />