FIRST SENIOR HOUSING CORPORATION

FIRST SENIOR HOUSING CORPORATION (THE ORGANIZATION), WAS FORMED IN APRIL 1996, AS A WISCONSIN NONSTOCK CORPORATION IN ACCORDANCE WITH THE NOT-FOR-PROFIT STATUTES OF THE STATE OF WISCONSIN. THE ORGANIZATION WAS FORMED TO CONSTRUCT, OPERATE, AND MANAGE TWO HOUSING FACILITIES FOR SENIOR CITIZENS IN JANESVILLE, WISCONSIN. THE HOUSING PROJECT, PROVIDED BY THE ORGANIZATION CALLED, "FIRST SENIOR APARTMENTS" (THE PROJECT), IS PARTIALLY FUNDED BY THE STATE OF WISCONSIN UNDER THE HOME INVESTMENT PARTNERSHIPS PROGRAM AND FINANCED BY THE WISCONSIN HOUSING AND ECONOMIC DEVELOPMENT AUTHORITY (WHEDA). THE FIRST PHASE OF 45 UNITS WAS PLACED IN SERVICE IN NOVEMBER 1997 AND THE SECOND PHASE OF 36 UNITS WAS PLACED IN SERVICE IN JUNE 1999.