1. www.kkolawyers.com 856 South Sage Dr., Suite 300, Cedar City, Utah Telephone 435.586.9366 / Facsimile 435.586.9491 © Kyler Kohler & Ostermiller, LLP 2007 May 16, 2007 Webinar “Case Studies in Business and Real Estate Transactions” Mathew N. Sorensen, J.D. “1031 Exchanges- What are the possibilities?” S. James Park, J.D., LL.M.

2. Disclaimer- Although the information contained in this Presentation may be extremely useful and helpful, please understand that the presentation of this information does not constitute an attorney-client relationship. Moreover, the information contained in this Presentation is for general guidance only. It is strongly recommended that each individual or entity obtain their own legal advice, particularly applied to their own set of circumstances, facts and specific situation. Kyler Kohler & Ostermiller, LLP is not responsible or liable for any advice that is taken and applied in a situation without direct consultation and representation specific to that individual’s or company’s needs. Instructor Notes © Kyler Kohler & Ostermiller, LLP 2006

3. Case Study 1 Small Business Jim and Mary own an interesting small business. They own a building that houses their restaurant as well as a candy shop, and flower shop. The building and business are located on main street in a small town in Arizona. The businesses have put a strain on the family and essentially breakeven each month and provide some minor living expenses. The real value is in the building and with its location and size, is worth a lot more than the businesses themselves. All together they hope to sell for 2 million dollars.

4. Case Study 2 Real Estate Venture Eric and Suzan are business partners in a real estate venture in Utah. They want to tie up 10 acres of land in a great location that has been growing steadily for the past couple of years. They decide that the best thing they can do with it is to make it residential. The zoning for the area will allow them to put up in 25 houses on this amount of land. They have a few hundred thousand dollars in cash and retirement plans and want to know what their options are. They potentially may want to sell the entire project or keep some of the properties as rentals.

5. Case Study 3 Rental Properties Jack and Jill are married and live in Illinois. Jill is a stay at home mother of three children and Jack owns his own Dental Practice. They own a total of 19 rental properties in various states. They have 6 properties in Illinois, 4 in Ohio, 2 in Florida, and 7 in Indiana. They have completed very little tax and legal planning and want to know what their options are. They are really in need getting organized and want to know the potential benefits.