1. EMC 101 New Employee Training

2. Welcome to Edgewood Management Corporation. It is Edgewoods philosophy that our people are our greatest strength. In fact it is in our company motto…Performance, People and Pride is the cornerstone of our success! So as you start, what we hope will be a long career with us, we would like to provide you with some valuable information and tools to help you be more successful in your career with us. Edgewood as you will see in our presentation believes heavily in promoting from within and a great many of our top executives and managers started with the company as community managers, porters, and maintenance technicians and have worked their way up through the ranks as they say. In this training you will learn about Edgewoods History People Policies And the Tools to help you do your job

3. MISSION STATEMENT We are dedicated: to providing superior real estate management and financial services to property owners to creating quality housing in a service-enriched community for our residents to offering our employees a safe, productive and supportive environment which embraces change and diversity to strategic growth while providing a reasonable return to the management company. Performance, People and Pride is the cornerstone of our success!

4. VISION STATEMENT A company built on People, Performance and Pride People = A continuous relationship with exceptional people who share our values Performance = Exceeding customer expectations Pride = Excellence in what we do and how we do it

5. VALUE STATEMENT Edgewood Management Corporations Values are built on Integrity, Trust, Teamwork, Dependability and Competitiveness. Edgewood Management Corporations forthrightness, honesty and high principles are the stepping stones to our most important value – integrity. We commit ourselves to the highest of standards and do our utmost to personify the quality of trust among not only our clients and residents but also our employees. We realize our strengths are a result of the teamwork and skills of our employees, who have been a constant in this organization. As a result, we excel in competitively meeting a large part of our societys needs by providing the best possible housing managed in all departments by skilled and dependable staff.

6. In 1972, Eugene F. Ford, Sr., founded Edgewood Management Corporation to provide quality property management services for Owners of multi-family housing. Through a unique combination of hands-on management, sophisticated accounting/reporting systems and enhanced resident services, Edgewood has become an industry leader in residential property management. Edgewoods Philosophy is simple. As management agent, we have the responsibility to meet the needs of both the Owners and the residents of the property. Whether for a conventional, tax-credit or federally assisted property, residents want a comfortable home at a reasonable cost - as well as a lifestyle that offers opportunity and variety. Edgewood is more than just a caretaker and has developed specialized programs and services that are designed to enhance the resident experience and support the ownership goals. Edgewood Management Corporation A Brief History Eugene F. Ford, Sr. - Founder

7. Mr. A. Scott Jones President & CEO of Edgewood Management Corporation Telephone:(301) 562-1723 Email:sjones@emcmgmt.comsjones@emcmgmt.com Scott Jones began his career in real estate property management as the Community Manager of Bolton House, a property now managed by Edgewood. From this position, he was promoted to a Regional Property Manager, then to a Senior Property Manager and eventually became the Assistant Vice President of CRICO Management. In July, 1990, CRICO Managements owners formed a joint venture with Edgewood and Scott joined Edgewood as a Senior Vice President. While at Edgewood, he supervised a portfolio of properties, and a number of Regional Property Managers. Scott left Edgewood in January 2006 to become President and Chief Operating Officer (COO) at Landex Management. In September 2008, he became President & Chief Executive Officer (CEO) of Edgewood after the retirement of Jack Murray, former President & CEO. The moral of this story is, that Edgewood firmly believes in promoting from within. There is a great deal of opportunity for promotion and advancement within Edgewood.

8. Mr. George C. Caruso Executive Vice President of Edgewood Management Corporation and its Affiliates Telephone – (703) 298-0693 Email – gcaruso@emcmgmt.comgcaruso@emcmgmt.com A thirty year veteran of the property management and real estate development business, Mr. Caruso has extensive experience in all types of residential management and development. Mr. Caruso is responsible for the operation of Edgewoods portfolio of Assisted and Affordable properties in Maryland, Virginia, the District of Columbia and parts of North Carolina. Prior to joining Edgewood, Mr. Caruso was Executive Director of the National Affordable Housing Management Association (NAHMA) in Alexandria, Virginia. As Executive Director from 1997 to 2002, Mr. Caruso was integrally involved in the development of legislation and policy for assisted and affordable housing on a national and regional basis. As the premier voice for Affordable Housing, NAHMA has been centrally involved in all major legislative and regulatory issues affecting affordable housing. Within the Washington advocacy community, Mr. Caruso is known as one of the most knowledgeable and tireless advocates for housing.

9. Ms. Pat Shumaker Regional Vice President Chairman of Knowledge Management Communications Committee Edgewood Management Corporation and its Affiliates Telephone – (757) 722-3229 Email – pshumaker@emcmgmt.compshumaker@emcmgmt.com

10. Ms. Michelle DeVastey Regional Property Manager Edgewood Management Corporation and its Affiliates Telephone – (410) 382-8160 Email – mdevastey@emcmgmt.commdevastey@emcmgmt.com Michelle began here career with Edgewood Management Corporation in 1998 as an Assistant Manager. In 2002 she moved to Richmond, VA to be a Community Manager and was then promoted to a Senior Community Manager. In 2009 she began her new position as a Regional Property Manager in Baltimore, MD. Todays Presenter

11. Mr. Mike Davis Director of Information Services (IS) Edgewood Management Corporation and its Affiliates Telephone – (301) 562-1608 Email – mwdavis@emcmgmt.commwdavis@emcmgmt.com L to R: Mike Davis, Mario Pareja-Lecaros, Terrance Doles IT Dept – What you need to know Personnel Hours Who to call first for specific problems When to Call PC, network or internet is down Question about AP Entry Scanning and use of EMC Genie When NOT to Call Onesite procedural issues Payroll hours or earnings questions EMC Intranet www.emcnet.biz How to login Computing tab www.emcnet.biz

12. EMC Intranet Access http://www.emcnet.biz To Access Intranet: 1. Enter User Name. Typically first initial and last name. 2. Enter Password. This is the last 4 digits of your social security number.

15. Ms. Traci Wallace Director of Compliance for Edgewood Management Corporation and its Affiliates Telephone – (301) 562-1624 Email – twallace@emcmgmt.comtwallace@emcmgmt.com Welcome! Be on the look out for a Welcome e-mail from your Compliance Training Specialist Compliance Intranet Resources: Income Limits, HUD 4350.3, Forms, Training Guides, State Agency Links, REAC Secure Server Connection Information and more! Compliance Department Technical Assistance: File Reviews, Telephone Training, One-on-One Training, Tax Credit Training and Calculation Workshops, Site Visits, Audit Preparation & Response, Annual Report Submission, Income Limit Updates, HUD and State Agency Policy Updates. http://www.emcnet.biz/EMCHomeCOMPL.asp Compliance Dept. Contacts: Gloria Armstrong (301) 562-1713 garmstrong@emcmgmt.com-garmstrong@emcmgmt.com- Rhiandra Graye-Green (301) 562-1711 rgraye@emcmgmt.comrgraye@emcmgmt.com Joyce Wilson (301) 562-1763 jwilson@emcmgmt.comjwilson@emcmgmt.com L to R: Rhiandra Graye-Green, Joyce Wilson, Traci Wallace, Gloria Armstrong

16. Ana Shkurti Telephone – (301) 562-1633 Email – ashkurti@emcmgmt.comashkurti@emcmgmt.com Training, Development & Support Team The Training, Development and Support Team is responsible for developing comprehensive training programs for Edgewood Management. This team also provides technical support for OneSite. If you have issues with OneSite and have checked with your Community Manager and Regional Property Manager FIRST! contact Ana Shkurti (contact info below) for assistance. Members of the Training, Development & Support Team include: Pat Shumaker Joyce Border Brian Berube Mary Sweeney Ana Shkurti Tracie Wallace Benita Spencer Kiersten Downing Cindy Maldonado

17. Ms. Mary Sweeney Controller Edgewood Management Corporation and its Affiliates Telephone – (301) 562-1762 Email – msweeney@emcmgmt.commsweeney@emcmgmt.com L to R, F to B: Ron Pucciarelli, Chris Care, Jodi Reeves, Brian Berube, Annette Smith, Elena Cetean, Janice Zhang, Benita Spencer, Eva Tee, Joyce Border, Traci Brown, Katie Lamb, Mary Sweeney (seated). Not pictured Debra Coleman. Staff Accountant contacts: Brian Berube 301-562-1610 bberube@emcmgmt.combberube@emcmgmt.com Joyce Border 301-562-1753 jborder@emcmgmt.comjborder@emcmgmt.com Tracey Brown 301-562-1715 tbrown@emcmgmt.comtbrown@emcmgmt.com Chris Care 301-562-1765 ccare@emcmgmt.comccare@emcmgmt.com Elena Cetean 301-562-783 ecetean@emcmgmt.comecetean@emcmgmt.com Ron Pucciarelli 301-562-1606 rpucciarelli@emcmgmt.comrpucciarelli@emcmgmt.com Jodi Reeves 301-562-1687 jreeves@emcmgmt.comjreeves@emcmgmt.com Eva Tee 301-562-1759 etee@emcmgmt.cometee@emcmgmt.com Janice Zhang 301-562-1730 jzhang@emcmgmt.com Accounts Receivable Contacts: Debra Coleman 301-562-1716 dcoleman@emcmgmt.comdcoleman@emcmgmt.com Benita Spencer 301-562-1609 bspencer@emcmgmt.combspencer@emcmgmt.com Accounting Executive Assistant Contact: Katie Lamb 301-562-1719 klamb@emcmgmt.comklamb@emcmgmt.com

18. Staff Accountants Reconcile books to the bank statements (A/R)Reconcile books to the bank statements (A/R) Re-class expenses as requested by CM/RPM/SVP/EVP (A/P)Re-class expenses as requested by CM/RPM/SVP/EVP (A/P) Review and finalize financial statements that go to the ownersReview and finalize financial statements that go to the owners Report to investors, lenders, federal and state agenciesReport to investors, lenders, federal and state agencies Staff: –Brian Berube –Joyce Border –Jodi Reeves –Chris Care –Ron Pucciarelli –Janice Zhang –Elena Cetean –Eva Tee –Tracey Brown

19. Accounts Receivable (A/R) Our job includes:Our job includes: –Reviewing Cash Batches –Reviewing Final Account Statements (FAS) and processing refunds if applicable –Assisting with month end close (AME) by advancing the date to the new accounting period Staff –Debra Coleman –Benita Spencer –Tracey Brown (HAP) –Staff Accountants also perform these tasks by property

20. Mr. Sonny Mitchell Accounts Payable Supervisor Edgewood Management Corporation and its Affiliates Telephone – (301) 562-1771 Email – smitchell@emcmgmt.comsmitchell@emcmgmt.com L to R: Sonny Mitchell, Anna Chen, Kim Nguyen, Christopher Chase, Asha Abyankar, Accounts Payable Contacts: Anna Chen 301-562-1772 achen@emcmgmt.comachen@emcmgmt.com Sharon Ford-Carraway 301-562-1742 sfordcarraway@emcmgmt.comsfordcarraway@emcmgmt.com Kim Nguyen 301-562-1774 knguyen@emcmgmt.comknguyen@emcmgmt.com Christopher Chase 301-562-1622 cchase@emcmgmt.comcchase@emcmgmt.com Asha Abyankar 301-562-1623 ashak@emcmgmt.comashak@emcmgmt.com

21. Accounts Payable (A/P) Reviewing batched invoices that were processed at the site level.Reviewing batched invoices that were processed at the site level. As part of their review, they: As part of their review, they: –Verify billing property –Verify proper invoice number was entered into the system –Verify proper amount has been entered into the system Generating available cash reportsGenerating available cash reports Staff –Sonny Mitchell –Sharon Ford-Carroway –Michelle Roberts –Asha Abyankar –Chris Chase –Tracey Brown –Anna Chen –Kim Nguyen

22. ACCOUNTS PAYABLE JOB RESPONSIBILITIES A/P Bookkeepers 1. Processing of A/p batches imported from properties - checking completeness and correctness. 2. Review received batches each day for utilities bills to make sure they are paid on time. 3. Determine what properties has in available cash and releasing invoice relative to the available cash for the check run. 4. Selecting properties for payment of invoices on check run day. 5. Assembling and reviewing printed checks for mail out. 6. Updating mortgage standard invoices file each month. 7. Maintaining files for replacement reserve checks and invoices. Then competing replacement reserves requests at the scheduled times or whenever they are needed. 8. Assisting the Property Managers and the properties with A/P problems, providing cancelled checks when needed. 9. Setting up vendors numbers when set up paperwork is received from A/P Manager or A/P Supervisor. 10. Setting up utility meters on intranet site. 11. Sorting of A/P mail. 12. Routing vendor calls to the Property Managers/properties when received at the Main Office. A/P Supervisor 1. Supervision of the A/P bookkeepers. 2. Review of A/P bookkeepers time sheets. 3. Review of mortgage standard invoices before the printing of the checks. Mailing out the mortgage checks insuring they are received by the mortgage companies on time. 4. Upload and initialized the CDs to log file for cancelled checks. 5. Maintain and updated all other standard invoices. 6. Maintain log of COD checks and insuring that the backup is received from the properties. 7. Selection of Demand checks for printing. 8. Assist A/P Manager in the review of Replacement Reserve Requests. 9. Assist the A/P Manager with the processing of 1099s and 1096s. 10. Training of the A/P bookkeepers and resolution of A/P problems. 11. Review new vendor set ups and give to assigned A/P Bookkeeper to setup; review the setup and make the vendor active. 12. Act as backup for the A/P Manager.

23. A/P Manager/Cash Manager 1. Supervision of A/P Supervisor and A/P Bookkeepers. 2. Initiation of wires at request. 3. Review and update positive pay files each day, adding new issues when necessary. 4. Retrieve daily cash balances and sending cash position report for the properties to the SVPS, RPMS and the properties. 5. Do ACH transfers for central disbursement and central payroll. 6. Maintain and update mortgage standard journal entries. 7. Do wires for mortgages not paid by check. 8. Insure the timely payments of tax and insurance invoices where EMC holds the escrows or the payments are to be paid from operations. 9. Review and submission of Replacement Reserve Requests. Review RR report. 10. Processing and submission of 1099s and 1096s. 11. Review new vendor set ups and give to assigned A/P Bookkeeper to setup; review the setup and make the vendor active. 12. Act as backup for A/P supervisor. 13. Do the bank reconciliations for the central disbursement and central payroll accounts. 14. Retrieve and give to A/R the daily report of HAP funds received. 15. Has overall responsibility for the operation of the A/P Department. ACCOUNTS PAYABLE JOB RESPONSIBILITIES CONTINUED

24. Ms. Colene Winston Administrative Training Specialist Edgewood Management Corporation and its Affiliates Telephone – (301) 562-1794 Email – cwinston@emcmgmt.comcwinston@emcmgmt.com Administrative Training Guide Resident File Set Up Vendor Set UP Ж Resident File Checklist Review - http://www.emcnet.biz/SiteForms/Compliance/Administrative%20Training%20Guide.pdfhttp://www.emcnet.biz/SiteForms/Compliance/Administrative%20Training%20Guide.pdf Ж - http://www.emcnet.biz/EMCHomePOLCY.asphttp://www.emcnet.biz/EMCHomePOLCY.asp - http://www.emcnet.biz/SiteForms/EMC631%20Resident%20File%20Checklist2.pdf (HUD / Tax Credit)http://www.emcnet.biz/SiteForms/EMC631%20Resident%20File%20Checklist2.pdf http://www.emcnet.biz/SiteForms/EMC%20631C.pdf (Conventional)http://www.emcnet.biz/SiteForms/EMC%20631C.pdf Colene – Im available for in town and out of town file audits.

25. Mr. Frank Winston Vice President of Purchasing Edgewood Management Corporation and its Affiliates Telephone – (301) 562-1786 Email – fwinston@emcmgmt.comfwinston@emcmgmt.com Sealed Bid Instructions ж Asbestos Procedures ж Think Green Check List ж As Vice President of Purchasing, Frank Winston logs and tracks all sealed bids for the properties. Any proposal over $5,000.00 for HUD properties or $2,500.00 for New Jersey properties must be in sealed bid form. Frank reads and writes specifications for various types of contractual jobs relating to apartment communities. Frank also deals with conflicts relating to contract issues between the property and the contractor. Frank will assist you in seeking and administering landscape contracts for the local metro properties for grounds maintenance and fertilization. Frank is the Asbestos Coordinator for all pre-1981 properties. Frank also has 30+ years experience in all phases of property management and is willing to assist you with answers to most questions. Ж Available in Edgewood Management Corporation Policy Manuel under the Maintenance Section. Available at : http://www.emcnet.biz/EMCHomePOLCY.asp

26. Mr. Frank Martin Custodial Training Specialist Edgewood Management Corporation and its Affiliates Telephone – (301) 562-1737 Email – fmartin@emcmgmt.comfmartin@emcmgmt.com Topics to be Covered Custodial Checklist 2 ¤ Building & Laundry Room Report ¤ Cleaning Schedules/Chemical Information Sheets ¤ Custodial Monthly Planner/Cleaning Reminders ¤ Technical Specifications-Custodial ¤ Maintenance Tips for Power Custodial Equipment ¤ Pest Control Policies & Procedures ¤ Cleaning Specifications for Common Areas and Vacant Apartments ¤ Market Ready Procedures ¤ Market Ready Apartment Tips ¤ Painting Standards for Apartment Units ¤ Landscaping Policies & Procedures Landscaping Calendar/Planner ¤ - Can be found at http://www.emcnet.biz/CustodialResources.asp#ClngSchedhttp://www.emcnet.biz/CustodialResources.asp#ClngSched - Can be found at http://www.emcnet.biz/EMCHomePOLCY.asp Volume III, Section E, Maintenance, Landscapehttp://www.emcnet.biz/EMCHomePOLCY.asp Can be found at http://www.emcnet.biz/EMCHomeLAND.asphttp://www.emcnet.biz/EMCHomeLAND.asp

27. Mr. Jamal Abdul-Wali Total Maintenance Service Training Specialist Edgewood Management Corporation and its Affiliates Telephone – (301) 562-1731 Email – jabdul-wali@emcmgmt.comjabdul-wali@emcmgmt.com Review of Difference of Rent Roll and Onsite Emergency Work Orders Importance of Filling Out Corrective at Time of Repairs Preventative Maintenance Assets List Resend Move In Work Orders REAC Inspections

28. Mr. Robert Boo Nickle Vice President – Construction & Maintenance Telephone – (301) 704-5216 Email – bnickle@emcmgmt.com Mr. Nickle is responsible for overseeing engineering and construction projects for Edgewood managed properties. Mr. Nickle also assists in the preparation and solicitation of bids. Mr. Nickle has been with Edgewood Management Corporation for over thirty-two years. Mr. Nickle began his career as a Porter and was promoted to Community Manager through several positions including Groundskeeper, Maintenance Person, and Maintenance Engineer. In 1984, Mr. Nickle was given the responsibility for overseeing all the on-site maintenance systems and performed both maintenance audits and grounds keeping inspections. Mr. Nickle supervises the A-Team which is a specialized crew of maintenance persons that assist on-site personnel. The A-Team also trains new maintenance personnel. Because of Mr. Nickles extensive maintenance background, he is responsible for recruiting and interviewing new maintenance persons.

29. Ms. Maesha McNeill HR Benefits Coordinator Edgewood Management Corporation and its Affiliates Telephone – (301) 562-1785 Email – mmcneill@emcmgmt.commmcneill@emcmgmt.com

30. Ms. Angela Angie M. Bowen Senior Vice President of Administration Edgewood Management Corporation and its Affiliates Telephone – (301) 562-1792 Email – abowen@emcmgmt.comabowen@emcmgmt.com Administration Department Tasks Advance and Periodic Replacement Reserve Requests (GS) Affirmative Fair Housing Marketing Plan (PB) Annual Adjustment Factor Rent Increase (PB, LN, GS) AT&T Long Distance Code (PB) Business License Renewals (BP) Community Manager Responsibility Checklist Monitoring (CM) Corporate Newsletter (LN) Excess Income Retaining Requests (PB) Federal Express Account (MC) Guernsey Office Supplies/ Invoices (MC) Policy and Procedures Manual (LN) Tracking of REAC Inspections, Management Reviews and Violations (LN) Rent Schedules (GS) Resident Complaint Line (CM) Review of Real Estate Tax Assessments (BP) Washington Post Account (PB) Administration Staff Paula Bahamonde – PB (301) 562-1783 pbahamonde@emcmgmt.compbahamonde@emcmgmt.com Maria Carantes – MC (301) 562–1768 mcarantes@emcmgmt.commcarantes@emcmgmt.com LaSharn Newbill – LN (301) 562–1637 lnewbill@emcmgmt.comlnewbill@emcmgmt.com Bill Pinner – BP (301) 562-1612 bpinner@emcmgmt.combpinner@emcmgmt.com Glynis Steffy – GS (301) 562-1758 gsteffy@emcmgmt.comgsteffy@emcmgmt.com Receptionist -CM (301) 562-1600 cmims@emcmgmt.comcmims@emcmgmt.com L to R: Angela Bowen, Paula Bahamonde, LaSharn Newbill, Bill Pinner, Maria Carantes, Glynis Steffy.

31. Thank you for attending todays EMC 101 New Employee Training. It is our sincerest wish that todays presentation will help you as you begin your career with Edgewood Management Corporation. If you have any questions, please raise your hand and we will be happy to answer them. If you have questions in the future do not be afraid to ask your Community Manager, Regional Property Manager or Executive Staff. If you can not get your question(s) answered please contact the corporate office at (301) 562-1600 and we will be happy to find someone who can answer your questions. After our training session ends, a brief survey will be displayed please take a few minutes and complete the survey on your experience with this training session. Again, WELCOME TO EDGEWOOD. Pat Shumaker, Knowledge Management Communications Committee Chair