Completion of the Standard Application A1.2

APPLICATION PROCESS

Dated 9/1/06

Contents

Completion of the Standard Application...... A1.2

Processing of the Standard Application...... A1.6

Qualifying the Standard Applicant...... A1.7

Completion of the Corporate Application...... A1.12

Processing the Corporate Application...... A1.13

Upon Approval...... A1.17

Co-Signers Addendum...... A1.20

Waiting List Procedure...... A1.22

APPLICATION PROCESS

Completion of the Standard Application

Policy: To have a standard form and process to ensure applications are completed accurately and completely.

Effective date:November 1, 2005

Procedure:

• The application must be completed in its entirety as demonstrated in the attached sample (A1.3).
• An application must be completed for every person 18 and older (unless state law calls for an older age) who will occupy the apartment.
• The following forms must be signed by applicant(s):

- Application (A1.3)

- Employment verification (A1.5)

• OneSite screening will be run on all leaseholders. Criminal background only will be run on occupants 18 and older.

9/1/06Mgmt A1.1

Rental Application

BENCHMARK

COMMUNITIES

Please complete all requested information on the front and back of this form. Thank you for your interest in our apartments.

Date of Application Desired Date of Occupancy

Type and Size of Apartment Wanted (No. of Bedrooms, etc.)

PERSONAL INFORMATION

APPLICANT’S FULL NAME Date of Birth

Social Security No. Driver’s License No./State

CO-APPLICANT’S FULL NAME Date of Birth

Social Security No. Driver’s License No./State

Full Names of All Other Residents:Relationship to YouDate of Birth

How Many Pets Do You or Other Occupants Own?

Kind of Pet, Breed, Weight and Age

How Did You Hear About Our Property?

RESIDENCE HISTORY

PRESENT ADDRESS

Present Telephone Dates From: To:

Present Landlord or Mortgage Co. Telephone:

Monthly Payment $ Reason for Moving

PREVIOUS ADDRESS

Dates From: To:

Previous Landlord or Mortgage Co. Telephone:

Monthly Payment $ Reason for Moving

EMPLOYMENT INFORMATION

PRESENT EMPLOYER Dates From: To:

Employer’s Address Telephone:

Position Supervisor Gross Monthly Salary $

PREVIOUS EMPLOYER Dates From: To:

Employer’s Address Telephone:

Position Supervisor

CO-APPLICANT’S EMPLOYER Dates From: To:

Employer’s Address Telephone:

Position Supervisor Gross Monthly Salary $

OTHER INFORMATION

TOTAL NUMBER OF VEHICLES (Including Company Vehicles)

Make/Model Year Color Tag No./State

Make/Model Year Color Tag No./State

Other Car, Motorcycle, etc.

Total Gross Monthly Household Income $

If there are other sources of income you would like us to consider, please list income, source and person (Banker, Employer, etc.) who we could contact for confirmation. You do NOT have to reveal alimony, child support or spouse’s annual income unless you want us to consider it in this application.

Amount $ Per Source Telephone

Amount $ Per Source Telephone

Comments:

HAVE YOU OR CO-APPLICANT EVER: Been sued for non-payment of rent?  Yes  No

Been evicted or asked to move out? Yes  NoBroken a Rental Agreement or Lease?  Yes  No

Been sued for damage to rental property?  Yes  NoDeclared Bankruptcy?  Yes  No

Been convicted of a crime, had an adjudication withheld, entered into a pretrial intervention program, or are criminal charges currently pending against you?  Yes  No

In case of Personal Emergency, Notify: Relationship:

Address Home Phone Work Phone

I hereby make application for an apartment and certify that this information is

correct. I authorize you to contact any references that I have listed. I also

authorize you to obtain my consumer credit report from your credit reporting

agency, which will appear as an inquiry on my file.

I am depositing herewith the sum of $ as a non-refundable

application fee. In addition, I am depositing $as a

holding deposit. If I fail or refuse apartment tendered for any reason after

hours, the Lessor shall retain said deposit to cover the cost of

taking and processing the application. In the event this application is

disapproved, deposit will be returned to me.

FOR OFFICE USE ONLY – DO NOT WRITE BELOW

Date Application Received Received By

9/1/06Mgmt A1.1

EMPLOYMENT VERIFICATION

TO:

(Employer)

(Address)

DATE:

has applied for residency at

(Applicant’s Name) (Property Name)

.

As part of our processing procedure, it is necessary to obtain verification of his/her employment and anticipated gross annual income prior to occupying the apartment. Please complete the information below and return to us via facsimile ______. Thank you for your prompt attention. (Fax Number)

Sincerely,

(Management Signature)(Applicant Signature)

======

The total anticipated gross annual income (including tips, bonuses, commissions and overtime) for the next 12 months for is $ (Total only, please). (Employee’s Name)

Hire Date:

(Signature of Supervisor/Human Resources)(Printed Name)

(Title)

APPLICATION PROCESS

Processing the Standard Application

Policy:To process application properly and consistently.

Effective date:November 1, 2005

Procedure:

• Review application for completeness.
• Collect application fee and holding deposit. (Payment can be made by credit card, check, money order, or bank draft). If applicant is paying by personal check, the move in date must be at least 14 days from the date of approval. Application fees to be deposited immediately. Holding deposits to be held 72 hours from date of application. Holding deposit may be applied to security deposit, lease administration fee, rent, etc.
• Assign an apartment.

-Review notices and assign a notice if possible.

-If no notice is available to assign, assign a vacant if move-in is expected within 15 days.

-Put applicant on waiting list if no notice is available or if move-in is greater than 60 days out.

-If a notice becomes available meeting applicant’s requirement and reducing days vacant, reassign apartment whenever possible.

• Enter into OneSite.
• Deposit application fees collected.
• Run OneSite screening per section A1.8.
• If OneSitepasses or passes with conditions, fax employment verification (A1.5) or obtain two most recent pay stubs from applicant(s).
• Inform applicant that final approval is contingent on Property Manager’s review.

All of the above should be performed on the same day unless it is a non-banking day, then it should be performed on the next business day.

APPLICATION PROCESS

Qualifying the Standard Applicant

Policy:Run and review OneSite score to ensure applicant meets or exceeds the minimum requirements for approval.

Effective date:November 1, 2005

Procedure:a. OneSite screening should be run before any other processing.

b. The applications should be analyzed based on attached guidelines (A1.8).

If application is failed, the following should be followed:

-Do not mail or fax employment verification

-Mail rejection letter to applicant (A1.10).

-Return holding deposit.

c. Employment verification should be signed by a representative of the employer.

Wage base should be compared to application.

1. Corporate renters must meet all requirements as outlined per attached (A1.15).
2. If an applicant does not have a social security number, they must have passports with an I-94 form which gives the date of entry to the United States and the date they must leave (most are for 30 days, rare occasions for 6 months). If no passport is available, applicant should not be considered whatsoever. If an applicant has a legal resident alien card, he/she should also have a social security number. Temporary Residents will have a temporary social security number with a temporary work permit valid for only one year. ALL PAPERWORK SHOULD BE VERIFIED FOR DATES. It is required to collect an additional month’s rent from a temporary citizen since he/she will have no established credit and could leave the country.

Resident Selection Criteria

THIS COMMUNITY DOES NOT DISCRIMINATE ON THE BASIS OF RACE, COLOR, SEX, RELIGION, HANDICAP, FAMILIAL STATUS, SEXUAL ORIENTATION OR NATIONAL ORIGIN.

APPLICATION FOR RESIDENCY

An application for residency must be completed and maintained for each applicant (minimum age 18 years) who will be living in the apartment.

QUALIFYING STANDARDS

1. Identity Verification. A government issued photo identification will need to be presented by all applicants and co-signors (who are present at the property). Any non-present applicants must have signatures notarized.

2. Rental History. Up to 12 months of rental history may be verified on present and previous residence. A positive record of prompt monthly payment, sufficient notice to vacate, with no damages is expected. For applicants who are homeowners, permission must be granted to verify payment history with the bank or lending institution.

3. Consent to Verify Credit (Criminal Background and previous occupancy history). All applicants and co-signers must agree to the following by executing a rental application form.

Scoring of your Consumer Credit Report. (Property Name) Apartments uses an empirically derived, statistically sound, credit scoring system to evaluate your consumer credit report. Credit scoring is based on real data and statistics, so it treats all applicants objectively. Your consumer credit report contains information about you and your credit experiences, such as your bill-payment history, the number and type of accounts that you have, late payments, collection actions, outstanding debt, and the age of your accounts. Using a statistical program, we compare this information to the credit performance of other applicants with similar profiles which allows us to predict how likely it is that you will pay your rent in a timely manner and fulfill your other lease obligations. Based upon your credit score, your application will be accepted, rejected or accepted on the condition that an additional security deposit be paid. If your application is rejected or is accepted with conditions, you will be given the name, address and telephone number of the consumer reporting agencies which provided your consumer information to us. An applicant rejected for unsatisfactory credit is encouraged to obtain a copy of the credit report, correct any erroneous information that may be on the report and submit a new application to this community for further consideration.

4. Occupancy Background. Benchmark Management, and its affiliates, maintain a list of former residents who are excluded from renting at any property managed by us because of negative previous occupancy history at one of our properties. If your application is rejected because of negative previous occupancy history at one of our properties, you will be given the name, address and telephone number of the consumer reporting agency where you can get a copy of this information. An applicant rejected for a negative previous occupancy history at one of our properties is encouraged to obtain a copy of the credit report, correct any erroneous information that may be on the report and submit a new application to this community for further consideration.

5. Criminal Background Search: It is our policy not to lease to applicants who have been arrested or convicted of certain felonies or misdemeanors. We have a pre-defined selection configuration which has been provided to our Criminal Search vendor. Prior to final acceptance of any applicant, our Criminal Search vendor will search for criminal background information on each applicant. If a report is found, it will be compared to our pre-selected criteria and a determination regarding whether an applicant meets our criteria will be made. Applicant may be declined for any criminal history, based on the sole discretion of Management, if Management believes the applicant may be a detriment to the community. If your application is rejected based upon our pre-selected criteria, you will be given the name, address and telephone number of the consumer reporting agency which provided your criminal information to us. An applicant rejected for an unsatisfactory criminal background is encouraged to obtain a copy of the criminal report, correct any erroneous information that may be on the report and submit a new application to this community for further consideration.

6. Income: Applicants must have a gross income source that can be verified. Acceptable income verification, such as 2 recent paycheck stubs, is required. If new employment: letter of offer, or proof of assets equal to three (3) years rent. Self-employed applicants are required to supply the most recent tax return or certified verification from their certified public accountant.

OCCUPANTS

Occupancy standards are followed by Federal Guidelines of 2 occupants per bedroom.

PETS

ALL pets are subject to property policy.

(date)

Dear

Thank you for your recent application. Your request for a leasing agreement was carefully considered and we regret that we are unable to approve your application at this time for the following reason(s):

Criminal history unsatisfactory

Fraud alert

Unverified information

Our credit decision was based in whole or part on the information obtained in a report from the consumer reporting agency listed below. You have rights under the Fair Credit Reporting Act to know the information contained in your file at the consumer reporting agency. Under the Fair Credit Reporting Act, you have the right to make a written request to the consumer reporting agency, no later than 60 days after you receive this notice, for disclosure of the nature of this information in the form of a free copy of the consumer credit report from the consumer reporting agency. The reporting agency played no part in our decision, and is unable to supply specific reasons why we have made this decision on your leasing application.

If you have a question about this notice, please contact the submitting property management company listed below.

Reporting Agency

Equifax

P O Box 105873

Atlanta, GA30348

(800) 685-1111

RealPage, Inc.

P O Box 118889

Carrollton, TX75011-8889

(800) 456-4008

Submitting Property Management Company

Benchmark Management, Inc.

4053 Maple Road; Suite 200

Buffalo, NY14226-1058

(904) 641-2103

The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to enter into a binding contract), because all or part of the applicant’s income derives from any public assistance program, or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The federal agency that administers compliance with this law concerning this creditor is the Federal Trade Commission. Call toll free 877-382-4357 or write to Correspondence Branch, Federal Trade Commission, Washington, DC20580. For questions regarding Fair Housing and Equal Opportunity, call toll free 800-669-9777 or write to the Department of Housing and Urban Development Office of Fair Housing and Equal Opportunity, 451 7th Street S. W., Room 5100, Washington, DC 20410.

Sincerely,

APPLICATION PROCESS

Completion of the Corporate Application

Policy:To have a standard form in process to ensure corporate applications are completed accurately and completely. To be used when a corporation is leasing the apartment and is responsible for the rental payments.

Effective date:November 1, 2005

Procedure:

• The application must be completed in its entirety as demonstrated in the attached sample (A1.14).

• The attached credit information must be obtained (A1.16).

• All applications and leases must be signed by an officer of the company.

• Security deposit is same as all other applicants.

• If the corporation applying is a nationally recognized company (i.e. Gieco, Publix, Nextel, Xerox, Boeing, etc.), you do not need to run the Dunn & Bradstreet report. All other companies need to have the report run. If you are not sure whether to run a Dunn & Bradstreet report, please discuss with your Regional Manager (See page A1.16).

• Proceed with application and approval process.

APPLICATION PROCESS

Processing the Corporate Application

Policy:To process corporate applications properly and consistently.

Effective Date:November 1, 2005

Procedure:

• Run a Dunn and Bradstreet report:

1. Sign in using your property ID.
2. Refer to the section on the home page that states:

Enter the company’s business name, country, and state/providence; then click FIND IT (this will be the business name of the company, which is applying).

1. Dunn and Bradstreet will generate a list of companies that could be a possible match for the business. When you find the correct company, click on the company name highlighted in blue, and the company’s address will appear.
2. Click on Comprehensive Report.
3. You will be prompted to enter your credit card information.
4. The report will generate and pop-up on your screen. At that time, you can print report for your files.

• Reading the Report:

1. Commercial credit score will range from 0 – 5. Businesses with a score of 1, 2 or 3 are acceptable. Applicants with a score of 4 or 5 are considered high risk and should be denied. Refer any questions to your Regional Manager.

BENCHMARK MANAGEMENT, INC.

CORPORATE CREDIT INFORMATION

Applicant has submitted the sum of $ , which is a non-refundable payment for a credit check and processing charge of this application. This amount will be retained by management to cover cost of processing application as furnished by the applicant; any false information will constitute grounds for rejection of this application.

DEPOSIT

The undersigned warrants and represents the information on this rental application to be true and correct and authorizes you to contact any references listed above. I also authorize you to obtain the corporation’s credit report from Dunn and Bradstreet or any other credit reporting agency. A holding deposit, in the amount of $ , is a good faith deposit in connection with this application. I understand that this good faith deposit portion will be applied toward payment of my security deposit(s). If application is approved and I refuse apartment tendered for any reason after hours, the lessor shall retain said deposit to cover the cost of taking and processing the application. In the event this application is disapproved, deposit will be returned to me.