Proposal to take out loan from National

Brothers:

Theta Chi of Penn State, Inc. has received a proposal for two loans from The Norwich Housing Corporation for a package of two loans for updates/renovations outlined in the previous letter.

The first proposal is to borrow up to $120,000.00 at 3.00% for a term of 20 years to install life safety equipment (i.e. sprinklers, hard wire smoke alarms, new doors).

The second proposal is to borrow up to $200,000.00 at 6.625 for a term of 20 years to refinance our existing higher interest rate first mortgage and renovate (i.e. new windows, repair to walls, electrical updates, Internet wiring).

Approval of our membership is required to increase the indebtedness of the Corporation. Please check your response and return the bottom portion of this card by March 21st.

If you have any questions, please feel free to contact me at work (814-643-9787) or at home (814-543-0879)

Fraternally,

Ed Brown '87
President