Reference

David B. Sholem

To whom it may concern:

I am writing this letter to recommend Ramshaw Real Estate, Inc. as a property manager based upon my personal experiences with the firm. For 14 years, Ramshaw Real Estate, Inc. efficiently, responsibly and economically managed my 40 bedroom apartment building on the University of Illinois campus in Champaign, Illinois. At all times, Ramshaw Real Estate, Inc.'s staff (and in particular Mr. Todd Lienhart) was knowledgeable, cooperative, and very professional.

The best indication of the level of service provided by Ramshaw Real Estate is the following:

1. During the 12 years when the property was managed by Ramshaw Real Estate, Inc., not one vacancy ever occurred.
2. During its entire tenure, only one tenant needed to be referred for collection due to non-payment and no other tenant defaults arose.
3. The property was well maintained and ultimately sold for a significant profit due to the excellent condition and management history of the building.

Ramshaw Real Estate, Inc. at all times managed the property as if it were the owner and operating costs were kept to a minimum while revenues were maximized. I highly recommend Ramshaw Real Estate, Inc. for property management services.

My law firm has also provided legal services to Ramshaw Real Estate, Inc. since its formation and regards Ramshaw Real Estate, Inc. as a valued client. In my opinion, Ramshaw Real Estate, inc. is clearly a market leader in real estate brokerage, property management and real estate development in east central Illinois.

Very truly yours,
David B. Sholem
Law Offices of Meyer Capel