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A Dream Come True Continues ~

In the fall of 1996 the corporation attained yet another important milestone when we purchased a Glendale apartment complex for more than $2 million dollars. We operated this 33 unit complex for a period of more than two years and gained invaluable and important experience in the management of investment real estate. We sold the property and realized a profit of more than $400,000. this transaction set us up for our next stage, one we had been working and praying for, namely, to own and operate a Southern California Retirement facility.

Towards this end, in the early months of the year 2001 we entered into an agreement to purchase 15 1/2 acres of land in the Hemet area of Riverside County adjacent to a new Catholic Church. Unfortunately, our plans to re-zone the property and construct a retirement facility of 100 units were not approved by the County of Riverside due to opposition by local residents. Subsequently we sold the undeveloped land for double our original investment.

Additionally, for the last several years the Corporation has raised development funds through the issuance of promissory notes to our councils, assembles and membership. This program has proved to be most successful.

During the course of 2006 the Corporation has been in negotiations to purchase an operating 80 unit dependent living facility in the San Fernando Valley. If this endeavor is successful, we will have significantly realized our Dream.

The Support of our California Knights for the last 30 years has made all of this possible. To all of our 64,000 California Brothers and their families we owe a debt of gratitude. We earnestly solicit their continued good will and financial support, as we hopefully enter a new and important phase of our Dream to provide affordable housing for our elderly Knights, their wives and widows.