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APPENDIX A <br />THE COMPANY, THE SCHOOL AND THE PROJECT <br />THE COMPANY <br />The Project owner is PCS Building Company, a Minnesota nonprofit corporation, <br />organized on February 20, 2002. The address of the Company is 7250 E. Ramsey Parkway, <br />Minnesota 55303. The Company was formed for the sole purpose of owning and operating the <br />Project for lease to the School. On September 20, 2002, the Company received a determination <br />letter from the Internal Revenue Service (the "IRS") that it is an organization exempt from <br />taxation pursuant to Section 501(c)(3) of the Code. <br />The sole member of the Company is PACT Charter School, a Minnesota nonprofit <br />corporation, incorporated on March 17, 1994_ On November 28, 1994, the School received a <br />determination letter from the Internal Revenue Service that it was exempt from federal income <br />taxation under Section 501(c)(3) of the Code. <br />The Company has no substantial assets other than the Project and does not intend to <br />acquire any other substantial assets or to engage in any substantial business activities other than <br />those related to the ownership of the Project. <br />The obligations and liabilities of the Company under the Loan Agreement and the <br />Mortgage are of a full recourse nature but are nonetheless limited to the Project and moneys <br />derived from the operation of the Project, including revenues received pursuant to the Lease, <br />since the Project is the only asset of the Company. No representation is made that the Company <br />has substantial funds available for the Project. Accordingly, the financial statements of the <br />Company are not included in this Official Statement. <br />The Company does not have, and is not expected to have, any employees of its own. <br />Consequently, pursuant to the Lease, the School is required to perform all property maintenance <br />and management functions for the Project <br />The current members of the Board of Directors of the Company are as fellows - <br />Name and Address <br />Humnick, Bernice <br />Andover, MN <br />Levy, Mary (Chair) <br />Plymouth, MN <br />Petersen, James <br />Brooklyn Park, MN <br />Weaver -West, Martha <br />Ramsey, MN <br />Relationship to School <br />Parent of PACT Student <br />Teacher Special Ed <br />PACT Board Member <br />Parent of PACT Student <br />(Non -parent) Community Member <br />PACT Board Member <br />A-11 <br />