b'1946); typically this encompasses any passive investment in an entity that will be managed by an asset manager and will have passive investors who arenotinvolvedingeneratingtheirownprofitsormakingday-to-day decisions about the property.Investment Summary Adocumentdevelopedtogiveinvestorspertinentinformation regarding a securities offering and the issuers business and objectives. Irretrievably Contractually Committed Whendeterminingwhensecuritiesnoticesmustbefiledwithstate and/or federal securities agencies, an irretrievable commitment occurs both at: 1) the date of impounds, and 2) the date of acceptance, for any investors acceptedafterimpoundsarebroken.Theissuermustcauseapplicable federal and/or state securities notices to be filed, generally within 15 days of the date investor funds become irretrievably committed. Issuer A legal entity such as a corporation, limited liability company or a limited partnership that sells securities to finance its business objectives. The term issuer encompasses the asset manager, but the issuer entity is the actual entity that is issuing the securities to investors. The issuer is your syndicate, fund, or Investor LLC.Leverage The use of debt to finance the acquisition of properties. 303'