To: REO Listing Agents
From: Safeguard Properties REO Department

As you may know, we are quickly approaching grass cut season once again.  We wanted to take a moment to review our grass cut procedures, as we have made a few changes from last season. Here are a few key points to keep in mind.

• Grass cut season will begin April 1.
• The grass will be cut every two weeks unless we are otherwise notified.
• Lawn care services include the grass cut; removing all clippings; edging around the walkways, driveway, and foundation; and trimming any weeds from the walkways and driveway.
• New assets will automatically be added to the grass cut list after the initial services are completed.

Safeguard typically follows the FHA grass cut seasons, which vary slightly from state to state.  In most areas, grass cut season begins on April 1 and continues through October 31.  We cut the grass once every two weeks; please contact us if you feel that the grass at certain properties needs to be cut more often.  These requests will be accommodated on an individual basis, pending approval from our clients. The lawn maintenance includes trimming the shrubs when needed, removing all grass clippings, and edging the walkways and driveway.  It also includes trimming the grass and weeds from the fence lines and from the foundation of the house. The properties will remain on our grass cut list until we are notified that the property has closed, or until the end of October.

By April 1, 2006, all properties will be on our ongoing grass cut list. This includes properties for which we have already completed the initial services. As we obtain additional assets after April 1, those properties will also be added to the grass cut list once the initial services have been completed.  You do not need to contact us to have your listings added to our grass cut list.

Please feel free to contact us if you have any questions or concerns.

Thank you,

Safeguard Properties
REO Department
800.852.8306  ext 2296