PRESERVATION FREEHOLD COMPANY

SEE SCHEDULE O FOR THE ORGANIZATION'S DEFINED MISSION STATEMENTPRESERVATION FREEHOLD COMPANY IS A PUBLIC CHARITY ORGANIZED FOR THE PURPOSE OF RELIEVING THE DISTRESSED THROUGH THE PROVISION OF HOUSING DESIGNED SPECIFICALLY TO ACCOMMODATE AND ADDRESS CERTAIN PHYSICAL, SOCIAL, AND CIVIC NEEDS OF THE ELDERLY, WHILE PROMOTING THE CONTINUED DIGNITY AND WELL-BEING OF ITS RESIDENTS. THE CORPORATION IS ORGANIZED AND SHALL BE OPERATED EXCLUSIVELY FOR CHARITABLE AND EDUCATIONAL PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. WITHIN THE SCOPE OF THE FOREGOING PURPOSES, BUT NOT BY WAY OF LIMITATION THEREOF, THE CORPORATION SHALL CARRY OUT THESE PURPOSES PRIMARILY BY OWNING AND OPERATING, EITHER DIRECTLY OR THROUGH AFFILIATED ENTITIES, NONPROFIT HEALTH CARE FACILITIES AND SENIOR LIVING COMMUNITIES.