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“INTEGRITY: THE QUALITY OF BEING HONEST
AND HAVING STRONG MORAL PRINCIPLES,
MORAL UPRIGHTNESS”

 

  • A facility Owner/Operator calls Integrity, and expresses a desire to discuss Contributing their facility into our growing Portfolio.
     

  • A 12 month trailing 12 is provided by the Owner, along with census and rent roll.  Ultimately, a three year history of earnings will be required for underwriting.   Integrity evaluates the facility, and generates a valuation.  If the Owner/Operator is satisfied with this valuation, a more formal Letter of Intent to Contribute is initiated and the value is stated.  Integrity engages, thru Bank Leumi or UCB, third parties, including the appraisal (normally by Integra/CBRE/ or Cushman).  If the appraisal is completed, showing a valuation no less than 5% of that stated in the Contribution Letter, then the Contribution is finalized.  The Owner/Operator is responsible for a written Title Opinion performed by their attorney, and to furnish a current ALTA level Survey of the facility, showing the facility, and any encroachments.  Integrity is solely responsible for the costs of the third parties.  A copy of the Owner/Operator’s resume is Emailed to all existing Partners, and copies of all existing Partners resumes are forwarded to the new, pending Partner, all for review and acceptance.
     

  • Should the appraisal reflect a higher value than that originally indicated, the Owner/Operator receives that value.  30% (or more if desired) of this amount is traded for Integrity Units, and upon closing,  the Owner/Operator becomes a Partner, and member of our Family.  The amount contributed is totally Capital Gains Tax Deferred.
     

  • Integrity arranges a conference call with Integrity's CPA firm. The call includes our new Partner’s CPA/Accountant. This call is at Integrity’s expense

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  • Integrity will begin training and transitioning for centralized accounting and payroll 4 weeks prior to closing.
     

  • The new Partner may continue to manage/operate his facility (s) if he so desires, under an Integrity standard Management Agreement.  Accounting is centralized, and payroll is centralized as well.  Staffing, which is responsible for the ‘bottom line’ and is the reason Integrity acquires a facility, is left intact, unless changes are discussed, and agreed upon, prior to closing.

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